Bitcoin News and Finance: What You Need to Know

Vitalik Buterin, a co-founder of Ethereum, the second-largest cryptocurrency by market cap, has made Time magazine’s list of the 100 most influential people of 2021. The programmer was listed as an innovator, and Time valued his ability to empower other creators with his continued support for Ethereum and all the things that its prime feature, smart contracts, can help them accomplish. Vitalik Buterin in Time’s Top 100 Influencers The most famous Ethereum co-founder, Vitalik Buterin, has been included in Time’s top 100 influential people of 2021 list. The magazine lists the most important people according to current events and specifies the unique roles of the individuals on the list. Others included for 2021 are Nayib Bukele, president of El Salvador, who pushed the inclusion of Bitcoin as legal tender, and Elon Musk, the CEO of Tesla and SpaceX, who is also a cryptocurrency enthusiast. Alexios Ohanian, one of the original builders of Reddit, discussed Buterin’s inclusion this ye...

There is no greater fear for cryptocurrency investors than one day forgetting the password to their blockchain wallets, seeing how their own money is right in their hands but still locked away forever from them. If this has happened to you, however, don’t lose hope. There are ways to recover a lost blockchain wallet password, as explained by a leading expert at wallet recovery with years of experience from KeychainX. Step by Step Guide for Recovering a Lost Blockchain Wallet Password Blockchain has over 76 million wallets created since its inception in 2011, and many users might have lost their passwords in the passing decade. But if Blockchain.com support will not help you recover your password, what other options do you have? Luckily, Robert Rhodin, the CEO of KeychainX and an expert in the field of wallet recovery, has written a complete step by step guide to help you with the process of recovering it yourself. Lost your blockchain wallet password? First, if you forget your...

Bitcoin prices have been better after the second week of September, hovering around $46.5K to $48.5K per unit during the last two days. Meanwhile, bitcoin proponents still believe a significant second-leg up will be happening this year and a recent survey published by Plan B with 123,410 votes shows people believe bitcoin will reach $100K by Christmas 2021. Furthermore, a price model crafted by Will Clemente called “Illiquid Supply Floor” indicates that bitcoin prices may never drop below $39K again. Plan B’s Bitcoin Price Survey Sees 100K Votes Plan B is a pseudo-anonymous Twitter account ( @100trillionusd ) and the creator of the bitcoin price model called stock-to-flow (S2F). Plan B has stated in previous tweets that September bitcoin ( BTC ) prices may be lackluster, and this week he said “let’s skip September and go straight to October.” He said this because in a tweet he wrote on June 20, Plan B expects bitcoin prices to follow this path: “Aug>47K, Sep>43K, Oct>63K,...

The president of the European Central Bank (ECB), Christine Lagarde, says cryptos are not currencies, adding that they are “highly speculative, suspicious occasionally, and high intensity in terms of energy consumption.” She also discussed the need for stablecoin regulation and central bank digital currencies (CBDCs). Lagarde: ‘Cryptos Are Not Currencies. Full Stop’ ECB President Christine Lagarde shared her view on cryptocurrency, stablecoins, and central bank digital currencies (CBDCs) in an interview with Carlyle Group co-founder David Rubenstein, published Thursday. Lagarde was asked whether “cryptocurrencies are a plus for the global economy” or whether it is too early to tell. The ECB chief promptly replied: “Cryptos are not currencies, full stop. Cryptos are highly speculative assets that claim their fame as currency, possibly, but they’re not. They are not.” She continued: I think we have to distinguish between cryptos that are those highly speculative, suspicious occasi...

A committee of the U.S. House of Representatives has proposed to subject cryptocurrencies to the “wash sale” rule. Since cryptocurrencies are treated as property by the Internal Revenue Service (IRS), they are currently not subject to the wash sale rule. This proposal attempts to close down a big crypto tax loophole. Crypto Included in New Proposal The Committee on Ways and Means, the chief tax-writing committee of the U.S. House of Representatives, proposed to subject cryptocurrencies to the wash sale rule Monday. If adopted, the rules will apply to crypto trades occurring after Dec. 31. The “wash sales” provision in the bill states: This section includes commodities, currencies, and digital assets in the wash sale rule, an anti-abuse rule previously applicable to stock and other securities. The wash sale rule in section 1091 prevents taxpayers from claiming tax losses while retaining an interest in the loss asset. The wash-sale rule was designed to discourage people from sel...

On September 8, 2021, Dmitriy Berenzon, research partner at 1kxnetwork, an early-stage crypto fund that helps founders bootstrap token networks, published a comprehensive research post concerning blockchain bridges. Berenzon’s study highlights the current “multi-chain market structure” and bridges that are making a myriad of blockchains compatible. Researcher: ‘We Are Finally in a Multi-Chain Market Structure’ For quite some time now, multi-chain or cross-chain technology has been a holy grail of sorts in the cryptocurrency development space. People want to transact with other blockchains by leveraging bridges to different ecosystems. Dmitriy Berenzon published a detailed article about the subject of cross-chain tech and bridges, and he believes we’ve finally reached a watershed moment. “After years of research & development, we are finally in a multi-chain market structure,” Berenzon stresses in his blog post. Image of bridge technology “as of September 8, 2021; Illustrati...

PRESS RELEASE. AscendEX is thrilled to announce the Monsta Infinite token (MONI) listing under the trading pair USDT/MONI on Sept. 15 at 1 p.m. UTC. In celebration of the MONI listing, AscendEX and the MONI team will launch seven limited-time promotional events for users to earn token rewards. The events will take place between 12:00 a.m. UTC, on Sept. 16 and 12:00 a.m. UTC, on Sept. 23, 2021. By depositing and trading MONI, users will have the chance to share airdrop rewards worth up to 80,000 USDT . Monsta Infinite is a decentralized game universe where tokens are earned through participation. The project’s efforts are focused on bringing accessibility and decentralization to the gaming world. They believe that greater blockchain adoption can be achieved through gamification. The project is built on top of Binance Smart Chain, which they believe will improve the user experience by making gameplay affordable and accessible. Monsta Infinite implements a sidechain service with EV...

On August 5, 2021, the Ethereum network and its participants successfully completed the highly anticipated London upgrade, which saw the implementation of the Ethereum Improvement Proposal (EIP)-1559. Since then, 303,681 ether worth more than a billion U.S. dollars have been burned. More Than 300K Ether Burned Following EIP-1559 More than a billion dollars worth of ethereum ( ETH ) has been burned to date, after the London upgrade was implemented 42 days ago. The biggest changes added to the Ethereum blockchain included EIP-1559 and EIP-3554. While EIP-3554 changed the difficulty bomb, EIP-1559 changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary. Essentially, fees are standardized and calculated based on network demand, as a transaction pricing mechanism introduces a base fee for every block found on the network. The remainder of the fees will be burned and ether proponents assume this will significantly reduce the overall supply of ethereu...

While the dogecoin’s token price has floundered during the last seven days, the meme-coin’s rival shiba inu (SHIB) has moved up the ranks in terms of weekly gains. Dogecoin has shed 5.8% during the last week, but shiba inu has spiked 21.3% during the course of the week and 21.1% in the last 24 hours. Shiba Inu Gains 21% in 24 Hours Two days ago, Bitcoin.com News covered the DOGE market action concerning dogecoin’s four-legged fall in recent times. Weekly stats show dogecoin (DOGE) is still down 5.8% during the last seven days but it is still the largest meme-based crypto asset in terms of market capitalization. The second leader in that category is shiba inu (SHIB), an ERC20 token that’s been moving northbound in terms of price in recent times. SHIB is currently swapping for $0.00000824 per unit but has lost 8% during the last 30 days. SHIB has been trading for $0.00000720 to $0.00000824 per unit on September 16, 2021. Today there’s 657,335 SHIB holders according to Etherscan d...

As someone who’s been deeply ingrained in the software development community for 20 years, I’ve come to realize that misinformation propels hearsay unlike anything else. There are a number of falsehoods circling the XRP Ledger (XRPL) that I encounter on a regular basis including the misconception that it’s centralized, that there are hidden fees, that … Continued The post Facts & Fiction: Debunking XRP Ledger Misconceptions appeared first on Ripple. http://dlvr.it/S7jJ3g

Cryptocurrency exchange Coinbase has filed an application with the National Futures Association (NFA) to offer futures and derivatives trading on its platform. The exchange says its new offerings aim to “Further grow the cryptoeconomy.” Coinbase Registers to Offer Crypto Futures and Derivatives Trading Coinbase Global Inc. (Nasdaq: COIN) announced Wednesday via Twitter that it has filed an application with the National Futures Association (NFA) to register as a Futures Commission Merchant (FCM). The exchange wrote: This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms. The exchange added that its goal is to “Further grow the cryptoeconomy.” The filing shows that the company is registered as Coinbase Financial Markets Inc. Crypto derivatives have become a huge market and most major cryptocurrency exchanges offer derivatives trading, including Binance, Okex, FTX, CME Group, and Kraken. In April, Coinbase announced that ...

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explained that there is not enough investor protection in cryptocurrency. He added that the securities regulator needs more funding and manpower to effectively regulate the crypto sector. SEC Chair Gensler Says More Funding Needed to Regulate Crypto Space SEC Chairman Gary Gensler detailed his agency’s approach to regulating cryptocurrencies before the Senate Banking Committee Tuesday. He assured senators that the SEC is working overtime to create a regulatory framework for crypto assets. Noting the enormity of the task, he told Senator Catherine Cortez Masto that the SEC could use “a lot more people” to evaluate the 6,000 digital “projects” and determine whether they are securities under the U.S. securities law. He said: Currently, we just don’t have enough investor protection in crypto finance, issuance, trading, or lending. Frankly, at this time, it’s more like the Wild West or the old world of ‘b...

The world’s largest movie exhibition company, AMC Entertainment, has announced its plan to accept cryptocurrencies by year-end. AMC CEO Adam Aron says the entertainment giant will accept bitcoin, ether, litecoin, and bitcoin cash. AMC Prepares to Accept Cryptocurrencies AMC, the largest movie exhibition company in the U.S., Europe, and the world, has unveiled its plan to accept cryptocurrencies by the end of the year. As of March 31, AMC owned or operated approximately 950 theaters and 10,500 screens globally. AMC CEO Adam Aron tweeted Wednesday: Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept ethereum, litecoin and bitcoin cash. AMC unveiled its plan to accept bitcoin during an earnings call in August. The CEO detailed on Twitter at the time: “By year end, we will have the technolo...

September 16th, 2021 09:00 UTC – The HUMAN Protocol Foundation, the team behind HUMAN Protocol , have announced today that the Protocol’s native utility token, HMT, is listed on Bitfinex. Bitfinex is one of the crypto world’s legacy exchanges. It consistently performs as one of the highest ranked exchanges , taking into account trading volume, liquidity, website visits, and compatible fiat currencies (USD, EUR, etc.) It offers users state-of-the-art trading tools, and high-quality customer service. “We are delighted to bring our community access to HMT on such a prestigious exchange,” said Haryjot Singh, Director of Technology at the HUMAN Protocol Foundation. “Bitfinex is one of the highest quality crypto exchanges, one of the legacy platforms that offers users a first-class trading experience. We are already fortunate to work with some top exchanges, and we hope Bitfinex offers our users another great opportunity to interact with HMT.” HMT broke the CoinList record for the numbe...

On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across the country will have to report accounts with at least $600 worth of transactions or more. The proposal stems from the Treasury’s “American Families Plan Tax Compliance Agenda.” Yellen, IRS Push Tax Compliance Agenda on Wednesday — Biden Fails to Mention Agenda in Tweets and Facebook Posts Using Twitter, United States president Joe Biden told the public that if a citizen made under $400,000 his administration won’t raise taxes. “To be clear,” Biden tweeted on Tuesday, “If you make under 400k, my Build Back Better Agenda won’t raise your taxes a cent. Not only that — you’ll get a historic tax cut, and see lower costs on things like child care and health care. And all of it will be paid for by the we...

The Turkish central bank has established a new platform together with technology stakeholders to further the development of a digitalized version of the national fiat currency. The new collaboration will allow Turkey to focus on expanding research and conducting tests of the prospective digital lira. Turkey Sets Up Digital Lira Collaboration Platform The Central Bank of the Republic of Turkey ( CBRT ) has secured agreements with two defense and technology companies, Aselsan and Havelsan, the Scientific and Technological Research Council of Turkey, and the Informatics and Information Security Research Center to cooperate on the digital lira project, the state-run Anadolu Agency and Daily Sabah reported. As per the signed memorandums of understanding, the partners are launching a “Digital Turkish Lira Collaboration Platform” to facilitate the research, development, and testing of the new currency, the bank said in a statement. Efforts will focus on examining the potential benefits o...

While Africa is seen as one of the smallest cryptocurrency markets, according to a preview of Chainalysis’ Geography of Cryptocurrency annual report, this region has “some of the highest grassroots adoptions in the world.” African Volumes Mainly Composed of Retail Transfers The crypto adoption observation for Africa is corroborated by the blockchain analysis firm’s latest Global Crypto Adoption Index . According to this index, four African countries, namely Kenya, Nigeria, South Africa, and Tanzania, are all in the top 20. In addition to being the region with one of the highest grassroots adoption rates, Africa’s cryptocurrency market grew by “over 1200% by value received in the last year.” This market is also reported to have received $105.6 billion worth of cryptocurrency between July 2020 and June 2021. As the latest preview indicates, Africa has “a bigger share of its overall transaction volume made up of retail-sized transfers than any other region at just over 7%, versus th...

On-demand work has created new financial opportunities, benefitting both individuals and local economies. In just two short years, the industry is expected to become a $455 billion market as freelancers and independent contractors reap the benefits of a flexible schedule and remote work. However, getting paid in a timely manner is still a challenge for … Continued The post Paydek Expands Footprint to Latin America and Africa Through RippleNet appeared first on Ripple. http://dlvr.it/S7gczr

Authorities in the Chinese province of Hebei have reportedly launched a campaign against cryptocurrency mining and trading. According to a quoted announcement by the region’s cyberspace administration, a number of government agencies are working together to prevent the use of the region’s computing power in the crypto activities which the government considers illegal. Cyberspace Watchdog Targets Crypto Mining and Trading Operations in Hebei Hebei province in Northern China has become the latest Chinese region to undertake measures to clamp down on cryptocurrency mining and trading, media reports revealed. South China Morning Post (SCMP) wrote that the regional cyberspace administration has started a campaign against cryptocurrency mining and trading, citing various reasons ranging from environmental and financial concerns to national security considerations. Government agencies and state-run companies in the province which surrounds Beijing have been asked to inspect their inform...

On September 15, the top non-fungible token (NFT) marketplace, Opensea, revealed that an Opensea executive profited from insider trading. “Yesterday we learned that one of our employees purchased items that they knew were set to display on our front page before they appeared there publicly,” Opensea informed the public on Wednesday. Opensea did not name the employee, but social media posts accused an Opensea executive of using “secret wallets” on Tuesday. Opensea Team Says NFT Market Operators Are ‘Incredibly Disappointed’ Opensea is the leading NFT market in terms of trade volume and during the last seven days, Opensea saw $519.51 million in volume, according to dappradar.com stats . While the volume is decent, it is down 48.20% during the last week in terms of sales. Meanwhile the number of Opensea traders did increase last week by 6.10% to 164,878 traders. On Wednesday, the Opensea management team announced that an employee has been accused of leveraging and profiting from insi...

This week, ABEY has announced that it has been adding an average of 20,000 active ABEY 2.0 addresses each week since the beginning of August 2021, making it one of the fastest-growing blockchains in the world and finishing an exceptional week that included the ABEY token being listed on Liquid Global, a premier international cryptocurrency exchange. ABEY developers say there are more than 120,000 active ABEY 2.0 addresses today, quadrupling from 30,000 addresses at the beginning of August. Developers say this growth began around the first airdrop of XT, the native token of XSWAP on August 17th. This news follows the confirmation that ABEY token, the native token of third-generation blockchain platform ABEYCHAIN, is now listed on popular cryptocurrency exchange Liquid Global. Major milestone for ABEY This development indicates the rapid growth of the ABEY ecosystem and will expose the token to more users globally. Liquid Global is a Japan-based exchange that ranks among the top ...

Maxime Bernier, a former cabinet minister nicknamed “Mad Max” and the leader of the People’s Party of Canada (PPC), says he supports bitcoin and cryptocurrencies. “I hate how central banks are destroying our money and economy … cryptos are another new and innovative way to counter this that should be encouraged,” he said. ‘Mad Max’ Supports Bitcoin and Crypto Maxime Bernier, the leader and founder of the People’s Party of Canada (PPC), has revealed his support for bitcoin and cryptocurrency. He is a former Canadian foreign minister whose supporters have nicknamed “Mad Max.” According to an EKOS poll, the PPC has 9% support nationally, which is higher than the Green Party but well below Justin Trudeau’s Liberal Party and Erin O’Toole’s Conservative Party, each with around 30%. Bernier tweeted Tuesday: Many people are asking if I support bitcoin and cryptos. Of course I do! I hate how central banks are destroying our money and economy. He continued: “I’m more of an old-fashioned...

At the U.S. Senate Banking Committee hearing Tuesday, Senator Elizabeth Warren called on the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, to increase oversight of cryptocurrency. She brought up several problems she associates with cryptocurrency that could hurt small investors. Senator Elizabeth Warren Says ‘There’s a Whole List of Problems With Crypto’ U.S. Senator Elizabeth Warren questioned U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler about several issues regarding cryptocurrency at the Senate Banking Committee hearing Tuesday. The senator from Massachusetts began by noting that last Tuesday, “In a matter of hours, $400 billion in market value disappeared.” She then pointed out that as the prices of cryptocurrencies tumbled, “several of the biggest crypto exchanges had outages, which kept customers from making withdrawals or trades.” Questioning how this affects small retail investors, “who don’t have a lot of money to lose,” Wa...