Bitcoin News and Finance: What You Need to Know

The Republic of El Salvador has made many headlines this week as the country adopted bitcoin as legal tender on Tuesday and became the first-known nation-state to purchase the leading crypto asset. A recent report details that remittance providers like Moneygram and Western Union could lose up to $400 million annually if the Chivo wallet is used more. Furthermore, the creator of the world wide web, Tim Berners-Lee has written an opinion piece about why Salvadoran president Nayib Bukele announced the bitcoin tender law at the Miami bitcoin conference. Chivo Wallet Could Hurt Remittance Giants Like Moneygram and Western Union, Says Report Ever since El Salvador adopted bitcoin ( BTC ) as legal currency on September 7, 2021, the country has continued to be a topic of discussion. Bitcoin.com News has reported on the many developments in El Salvador from ‘ Bitcoin Beach ’ to the ‘30for30’ trend that took place this week. Moreover, the country started buying mass quantities of bitcoin (...

PRESS RELEASE. At the end of August, the new NFT avatar collection known as SIDUS: NFT Heroes released its first batch of characters – in just 10 minutes, the entire batch had sold out! The release of the remaining characters from the collection is scheduled for September 10th at 4:00 am UTC. The team has also announced that the Rare and Legendary upgrade cards needed to modify an NFT Hero to Rare and Legendary status will be launched on the same day. I Want an NFT Hero – How Do I Get One? The public sale for the remaining NFT Heroes starts on September 10th at 4:00 am UTC, on the NFT Heroes website. The price for 1 NFT Hero is the same as before – 0.055 ETH . The remaining Heroes will come with new features and physical traits. After the whole collection of Original NFT Heroes is minted, users will be able to learn the precise percentage of their Hero’s rarity. On the same day, September 10th, SIDUS will be presenting its Rare and Legendary upgrade cards. The upgrade cards are t...

Seychelles’ Financial Services Authority (FSA) together with the country’s finance ministry, is reportedly working on a policy to either prohibit or license crypto trading platforms as registered international businesses. Increase in International Investigations of Crypto Platforms According to a report , the move by the FSA happens against the backdrop of a rising number of international investigations into scam crypto trading platforms that have been traced to the island nation. As recently reported by Bitcoin.com News, the Onecoin bitcoin scam became the latest foreign crypto entity to be a target of such an investigation. This after a request for a probe was submitted to the country’s law enforcement. Meanwhile, in the same report, Randolf Samson, who heads the FSA’s anti-money laundering and terrorist financing section, is quoted explaining the rationale behind the regulator’s move. Samson detailed: There are many incorporated companies that are facilitating that activity. ...

Two central bank governors have shared their opinions about bitcoin after the cryptocurrency became legal tender in El Salvador. The governor of the Bank of Mexico sees bitcoin as a high-risk investment and a poor store of value while the governor of Sweden’s central bank, the Riksbank, believes bitcoin could collapse. Central Bankers Continue to Warn About Bitcoin The governors of the Bank of Mexico (Banxico) and Sweden’s central bank, the Riksbank, have shared their views on bitcoin after the cryptocurrency became legal tender in El Salvador. Bank of Mexico Governor Alejandro Diaz de Leon said Thursday that bitcoin is more like a means of barter than fiat money, Reuters reported, adding that he called the cryptocurrency “a high-risk investment and a poor store of value.” The Banxico governor is an economist; he was appointed by Mexico’s president to serve as governor of the central bank until Dec. 31. He was quoted as saying: Whoever receives bitcoin in exchange for a good or ...

On Wednesday, the stock and cryptocurrency trading platform Robinhood rolled out recurring crypto investments and now customers can purchase as little as $1 in crypto commission-free daily, weekly, biweekly, or monthly. The company’s announcement discusses the strategy of investment called dollar-cost averaging “in order to help smooth out the price swings.” Robinhood Rolls Out Recurring Crypto Purchases The investment platform Robinhood (Nasdaq: HOOD) is now providing customers with the ability to purchase crypto assets in a recurring fashion. This means that customers can purchase a set amount of digital currency ($1 or more) and buy it every day, week after week, every two weeks, or on a monthly basis. Additionally, Robinhood says that clients can “set recurring investments across multiple coins without ever incurring a fee.” “Today we’re rolling out crypto recurring investments, a new feature that allows you to regularly buy your favorite coins, commission-free and with as litt...

Dydx, a decentralized exchange, finally unlocked its airdrop rewards for users. Its governance token, dydx, was locked due to airdrop restrictions since the protocol announced its distribution on August 3rd. Since its release the price has skyrocketed, giving some of the more active users on the platform more than $50K worth of dydx. However, some users were unable to reclaim the airdrop due to location restrictions. Dydx Unlocks Airdrop, Price Skyrockets Dydx, a derivatives decentralized exchange, announced yesterday the unlocking of its airdropped governance token, dydx. The platform had airdropped these tokens on August 3, but users had to wait for an initial transfer restriction period to be able to withdraw funds. The token, which will be used as a reward and also as a governance token, experienced a quick appreciation in price. This contributed to the most active users getting more than $50K worth of tokens. The protocol dropped tokens to each one of the users that traded ev...

PRESS RELEASE. GoMeat Services ( https://gomeat.io ) is a digital marketplace connecting consumers with their local specialty (halal/kosher) stores. Since its launch in 2019, GoMeat has processed over 6k orders and garnered over 5k loyal users. GoMeat application and website bring convenience to the doorstep of specialty consumers by providing web-based ordering and same-day delivery options. GoMeat is the first project of its kind serving this $1.7 trillion industry and empowering local specialty stores. Specialty meat refers to any meat prepared following strict guidelines. Any meat slaughtered and prepared according to Islamic principles is called Halal meanwhile the meat prepared according to Jewish guidelines is called Kosher. The same applies to foods and beverages. While specialty meat certainly is a niche but it is a massive one with over 1.8 billion consumers around the world. These consumers are not just restricted to the Middle East as globalization and increased awaren...

Mastercard, the American multinational financial services corporation, announced the company is dipping further into the digital asset ecosystem by acquiring the blockchain intelligence firm Ciphertrace. The partnership announcement says the firm will help bolster Ciphertrace’s and Mastercard’s cyber security solutions. Mastercard Purchased Ciphertrace for Undisclosed Sum On Thursday, the financial payments giant Mastercard (NYSE: MA) has revealed the company has acquired the blockchain surveillance firm Ciphertrace. The blockchain company is a Menlo Park, California-based cyber security firm that specializes in tracking “more than 900 cryptocurrencies.” Ciphertrace was founded by Stephen Ryan on May 31, 2016, and it has filed a number of patents throughout the years. In mid-May, Ciphertrace reported on cryptocurrency crime moving toward decentralized finance (defi), and during the first week of August, Ciphertrace claimed it had enhanced monero ( XMR ) tracing capabilities. In ...

The cryptocurrency solana reached another all-time high on September 9 at $213 per coin. The digital currency’s market valuation has swelled significantly, pushing dogecoin from its position in the top ten last week. Today, solana’s crypto market capitalization has managed to surpass XRP ’s overall valuation, taking the sixth position in the top ten this week. Solana’s Month-Long Tear Continues Solana has managed to continue its ascent higher and higher as a great majority of the crypto economy coins have faltered in value. On Thursday, solana (SOL) reached an all-time high (ATH) at $213 per unit, and it’s a touch over 5.9% lower than that price point at the time of writing. The higher price has ballooned the crypto asset’s overall market capitalization and for the first time, SOL knocked XRP down a spot in terms of the top ten crypto positions. SOL also knocked DOGE down last week and today, solana’s market cap is hovering around $58.9 billion. Year-to-date, SOL has gained a m...

Seven-time Super Bowl winner Tom Brady and his supermodel wife Gisele Bündchen are featured in a new commercial for cryptocurrency exchange FTX. The company plans to invest $20 million in the ad campaign. Tom Brady and Gisele Bündchen Star in Commercial for FTX Tom Brady and Gisele Bündchen are in a commercial for cryptocurrency exchange FTX. The commercial titled “FTX. You in?” was released by FTX Wednesday. The company’s U.S. affiliate plans to invest $20 million in the campaign, the Wall Street Journal reported, adding that the campaign begins Thursday during the National Football League season kickoff game between Tampa Bay and Dallas. It will run during NFL broadcasts throughout October along with digital advertising components. The commercial opens with Bündchen saying to Brady, “Can I talk to you about something?” After showing him something on her cell phone, she asked, “What do you think? Are you in?” Brady replied: “I’m in. Let’s call everyone.” The pair proceeded to ca...

PRESS RELEASE. GoCrypto, a solution allowing merchants to accept, store, withdraw and buy cryptocurrencies, announced the integration of Binance Pay into the GoCrypto system giving crypto adopters more options to use crypto as the mainstream means of payment as they are intended to be. The GoCrypto solution, developed by Elly – a fully regulated company, is currently available in 64 countries, and is expanding to new markets as regulations evolve and allow. GoCrypto enables online and brick-and-mortar merchants to accept instant payments with various crypto wallets. The integration of Binance Pay into the GoCrypto payment network enables tens of millions of Binance app users to use 40+ Binance Pay-supported cryptocurrencies at thousands of GoCrypto locations around the world. Elly, the GoCrypto developer, also presented the multichain bridge for its native GoC token, which enables migrations between the SLP protocol on the Bitcoin Cash blockchain and Binance Smart Chain (BSC). ...

The chairman of India’s Parliamentary Standing Committee on Finance explains that cryptocurrency legislation in India will be “distinct and unique.” He added, “We have to balance stability and growth but we recognize how important this whole area of crypto is.” Lawmaker Provides an Update on Crypto Legislation Jayant Sinha, a lawmaker of the ruling Bharatiya Janata Party, talked about India’s cryptocurrency legislation Wednesday at an event organized by the Blockchain and Crypto Assets Council (BACC) of Internet and Mobile Association of India (IAMAI). Sinha, who is the chairman of India’s Parliamentary Standing Committee on Finance, explained that it is not possible for India to adopt the cryptocurrency policies used in advanced economies because the nation still does not have a full capital account convertibility. He clarified that India’s crypto policies will not follow the U.S., Japan, or El Salvador, the country which made bitcoin legal tender this week. The lawmaker elabora...

The parliament in Kyiv has passed legislation determining the rules for crypto-related operations in Ukraine. The law “On Virtual Assets” recognizes cryptocurrencies as intangible goods while denying them the status of legal tender. It also regulates the activities and obligations of crypto businesses. Ukraine Legalizes Crypto Activities, Defines Virtual Assets Ukraine’s Verkhovna Rada, the country’s parliament, has adopted the law “On Virtual Assets” on second and final reading. The legislation regulates operations with cryptocurrencies in the Ukrainian jurisdiction. Deputies passed the bill with a large majority of 276 votes out of 376 present MPs, with only six voting against the motion. The long-awaited law will enter into force after lawmakers approve amendments to the country’s tax code pertaining to the taxation of cryptocurrency transactions. The Ukrainian legislature is yet to vote on these changes, Forklog noted in its report on the development. Provisions of the new ...

A high-ranking representative of Russia’s notorious Finiko Ponzi scheme has been arrested in Tatarstan. Ilgiz Shakirov, a businessman from Kazan, rose to the rank of vice president of the crypto pyramid which is believed to have defrauded millions of investors in the Russian Federation and surrounding regions. Kazan Police Detain Finiko Vice President Police in the Russian republic of Tatarstan have detained Ilgiz Shakirov, a businessman from the capital city Kazan, for his suspected involvement in the fraudulent theft of funds in the Finiko case, Realnoe Vremya reported. The local news outlet quotes undisclosed sources familiar with the investigation. Shakirov has allegedly attracted 100,000 people to the Ponzi scheme which is one of the largest financial scams in Russia’s modern history. For his achievements, the Tatarstan native was granted the status of vice president of the cryptocurrency pyramid. Ilgiz Shakirov. Source: Realnoe Vremya According to a recent report by blo...

The Central Bank of Nigeria (CBN)’s director of monetary policy, Hassan Mahmud, has suggested that the institution is not worried about the naira’s valuation but is instead interested in “boosting dollar supply on the currency market.” Naira Depreciation According to a report , Mahmud’s remarks were made just a day after the local currency touched a new low of 532 naira for one dollar on the parallel market. This new parallel market exchange rate differs significantly from the CBN’s current spot exchange rate of approximately 411 naira to the dollar. Yet, in spite of the glaring differences between the two rates, Mahmud, who was addressing a virtual investor conference, insisted that fixing this gap is not the priority of the central bank. Mahmud explained: We are not really bothered much about valuation. What we are worried about is the supply side and the confidence in the system. Forex Shortages Since the second quarter of 2020, Nigeria has grappled with shortages of foreig...

On Wednesday, the programmable liquidity platform Balancer Protocol announced the project has partnered with the Wallstreetbets defi project Wsbdapp. The announcement details that the two projects will collaborate in order to launch Wsbdapp’s exchange-traded portfolios (ETPs) on Balancer V2. Balancer Protocol and Wallstreetbets’ Defi Project Partner to Launch Exchange-Traded Portfolios Last week, Bitcoin.com News reported on the newly launched Wsbdapp decentralized finance (defi) platform hosted on the website wsbdapp.com . The application’s creators claim to be the leaders behind the Wallstreetbets community alongside backing from Jaime Rogozinski, according to a video the team shared on Twitter. On Wednesday, the team behind the Balancer Protocol revealed the project will be collaborating with the Wsbdapp creators. Balancer Protocol is a liquidity provider and decentralized exchange (dex) platform that leverages the Ethereum blockchain. According to Wednesday’s data, Balancer P...

PRESS RELEASE. TimeCoinProtocol is a decentralized sharing economy protocol which aims to optimize world resource usage. Various applications can be built and run on the TimeCoinProtocol including third party applications. The project puts a strong focus on the Gig Economy and Creator Economy. The project has issued an original crypto currency called TimeCoin(TMCN) which is already listed on BitFrorex, BiKi, and BitMart and is planning to be listed on Binance DEX in November and other major exchanges as well. The project has raised over 7 Million USD from equity and crypto investors. There is a limited number of tokens available for special token sales ending at the end of October. The project is currently focusing on Gig Economy applications such as TimeTicket, GameTomodachi, eSportStars, and VTuber Production, NeoRad. TimeCoin will be used on various applications on the platform. TimeTicket is a well-established skill-sharing platform with more than 560,000 users in Japan and ...

One of South Africa’s biggest cryptocurrency exchanges, Luno, has confirmed that it has started restricting withdrawals by clients. The exchange insists the limits are meant to “act as a deterrent for illicit actors moving large amounts of funds within the crypto ecosystem.” Transfers From Luno to Binance Blocked However, despite this acknowledgement, Luno has so far refused to explain how the exchange sets the so-called “dynamic risk-based limits.” According to a report, the limits — which are separate from the send limits that appear on Luno’s website — were discovered by one of the exchange’s clients. The discovery became apparent to the client when their attempt to transfer crypto assets from a Luno account to a Binance wallet failed. When approached for answers, Luno explained to the client(s) that the limits had been imposed in order to “protect our customers and in an effort to comply with best practices in anti-financial crime and anti-fraud.” Furthermore, the exchange tol...

A former federal prosecutor says that the U.S. Securities and Exchange Commission (SEC) “will stop at nothing to control the entire crypto space.” The SEC has now threatened to sue the Nasdaq-listed crypto exchange Coinbase. The regulator is already in an ongoing lawsuit with Ripple Labs and its executives. SEC Going After Entire Crypto Space, Says Former Federal Prosecutor James K. Filan, a former federal prosecutor who served for nine years in the United States Attorney’s Office for the District of Connecticut, commented on the warning issued by the U.S. Securities and Exchange Commission (SEC) regarding Coinbase’s Lend program Wednesday. Filan is an attorney specializing in securities litigation and government investigations. He is also a prominent voice in the Ripple community. Filan tweeted: The SEC will stop at nothing to control the entire crypto space. This isn’t just about Ripple. Coinbase accuses the SEC of using ‘intimidation tactics behind closed doors’ to stop the c...