Bitcoin News and Finance: What You Need to Know

A professor with the University of Johannesburg, Rabelani Dagada, has urged South Africa to finalize its cryptocurrency public policy if the country still wants to become a hub for digital currency innovation. History Will Repeat Itself In an opinion published by Itweb, Dagada warned South African authorities that the continued efforts to stifle cryptocurrencies will not achieve the intended objectives. He adds that regulators must learn from history that violently opposing an emerging innovation will not kill it. He explained: Technology has prevailed against violent and regulatory opposition. During the era of the industrial revolution, some workers in Britain rioted against mechanised manufacturing firms. Blue-collar workers waged a war against technology. They physically destroyed production machinery, cotton and woollen mills. Dagada also shared a recent example of how “some people in the UK and SA falsely accused 5G technologies of causing the COVID-19 pandemic, and destr

As the lawsuit with the U.S. Securities and Exchange Commission (SEC) continues, Ripple CEO Brad Garlinghouse insists that the Commission has provided no clarity in crypto regulation. He said the SEC is using its meetings with crypto companies as lead generation for enforcement actions, and the agency has lost sight of its mission to protect investors. Ripple’s CEO Claims SEC Uses Meetings With Crypto Companies as Lead Generation for Enforcement Actions Amid the SEC’s lawsuit over XRP , Ripple CEO Brad Garlinghouse reiterated his concerns over the lack of clarity in crypto regulation provided by the securities watchdog. He tweeted Saturday: American innovation is on the line because of the SEC’s refusal to provide a clear framework for crypto. Instead of working with the industry, the SEC is using their meetings with companies as lead generation for their enforcement actions. The Ripple CEO’s tweets followed his interview with Fox Business Friday where he also talked about the l

Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” has predicted a “giant stock market crash” coming in October. He believes that “bitcoin may crash too.” The famous author also offered his opinion on China’s crackdown on cryptocurrencies. Robert Kiyosaki Warns of ‘Giant’ Market Crash in October Famous author and investor Robert Kiyosaki has predicted that a “giant stock market crash” is coming in October, noting that gold, silver, and bitcoin may crash as well. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Saturday: Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold, silver, bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold, silver, bitcoin, yet have lots of cash for lif

The billionaire investor and CEO of Galaxy Digital, Mike Novogratz, says the bitcoin market is in good shape, noting that he sees “so much capital coming into the space.” He also commented on the dwindling influence China has over the crypto market. Billionaire Investor Says the Market Is ‘in Good Shape’ — ‘I’m Not Nervous’ Galaxy Digital CEO Mike Novogratz commented on the crypto market and the latest news of China’s crackdown on cryptocurrencies Friday. He explained that the crypto market was down for three reasons. The first is China reiterating its anti-crypto and anti-freedom stance. The second is the U.S. Federal Reserve “putting taper in motion,” and the third is the big overhead resistance level for bitcoin and ether. Novogratz noted that he believes BTC and ETH will consolidate. At the time of writing, the price of bitcoin stands at $43,695 and the price of ether stands at $3,090 based on data from Bitcoin.com Markets. Furthermore, the billionaire CEO believes that

CryptoKitties was the first to bring blockchain gaming to life, and games such as Axie Infinity defined how a good blockchain game should be. The Three Kingdoms aims to build on this with their next-generation play-to-earn game. The Three Kingdoms is a highly strategic third-generation NFT game based on the historical characters of the Three Kingdoms period in ancient China. The historical characters enable users to have engaging gameplay while obtaining rewards for their achievements. The Next Generation of GameFi What does the new era of play-to-earn games mean? The TTK team believes the current generation of NFT games has limited ways for players to earn in them. Additionally, they suffer from outdated and cartoony graphics and minimal gameplay features. The Three Kingdoms team set out to build a blockchain game that features multiple methods never seen before in the GameFi market to earn tokens. Additionally, they are creating an authentic gaming experience that compares more

Following the latest statements from China’s central bank concerning cryptocurrencies and offshore crypto exchanges, massive amounts of funds have been moving onchain. On September 26, at approximately 1:00 a.m. (UTC) 72,999 BTC or $3.1 billion in bitcoin was dispersed to unknown wallets. Huobi to Gradually Retire Mainland China Users, 800K Ether Move from Huobi to an Unknown Wallet Word around the crypto campfire is that offshore exchanges near China are seeing massive amounts of crypto transfers during the last few days. For instance, theblockcrypto.com writer Wolfie Zhao revealed on September 25 that the Chinese government’s crackdown has “spooked some retail users” and the action had spilled over to over-the-counter (OTC) markets. Zhao’s report shows a screenshot of “OTC merchant quotes for USDT against Chinese yuan on Huobi.” Following Zhao’s report, Huobi detailed to users on Sunday that the crypto exchange would “gradually retire existing mainland China users.” Meanwh

On September 24, the staff writer for The New Republic, Jacob Silverman, tweeted about a Freedom of Information Act (FOIA) request he filed that was ultimately denied. On the social media platform, Silverman wrote that he got Securities and Exchange Commission (SEC) responses to his FOIA requests and said the responses were “withheld because of possible law enforcement investigation.” Jacob Silverman Sought ‘Access to All Documents, Emails, Memos, and Reports Related to Tether’ There’s a ton of stablecoins these days and today, all the stablecoins in existence are valued at $129.7 billion . The oldest stablecoin and the largest, in terms of market valuation, tether ( USDT ) commands $69.7 billion of the aggregate total of all stablecoins. This Friday, a staff writer from the publication The New Republic, Jacob Silverman , tweeted that he had filed for a FOIA request concerning “Tether” and “Tether Operations Limited.” Essentially, a Freedom of Information Act (FOIA) request allows

The scandal around sanctioned crypto broker Suex is growing in Russia where one of the co-founders of the OTC platform has been dismissed from his executive post at a bank. Meanwhile, an anti-drug organization has referred the case to the interior ministry and the central bank, asking authorities to investigate Suex’s connections with financial companies and a darknet market operating in the region. Co-Founder of Suex Fired by MTS Bank, Another Quits Job at Chatex Russian entrepreneur and financial executive Vasily Zhabykin, one of the founders of troubled crypto broker Suex, has been released from his managerial role at MTS Bank, where he headed the innovative Neo bank project, Kommersant reported. Quoting a source familiar with the matter, Russia’s leading business daily added that the dismissal was due to the U.S. sanctions imposed over the platform’s alleged money laundering operations . The news comes after one of Zhabykin’s partners at Suex, co-owner Egor Petukhovsky, announ

While a number of popular crypto-assets like bitcoin have been consolidating, decentralized finance (defi) tokens have captured significant gains during the last 24 hours. A few defi crypto assets have seen double-digit gains and the leader of the pack is Uniswap which has jumped 20.9% in the last 24 hours. Uniswap’s Defi Token Leads the Percentage Gains on Sunday Decentralized finance (defi) tokens are making waves during Sunday’s crypto trading sessions, as a dozen defi tokens have seen better gains than most of today’s well known digital assets. While bitcoin ( BTC ) has risen 2% today and ethereum ( ETH ) is up over 3%, crypto tokens like uniswap (UNI) and sushi (SUSHI) have seen double-digit gains. Uni has jumped over 20% during the last day while SUSHI is up 15.6%. Both UNI and SUSHI are followed by coins like maker ( MKR ) up 11.5%, ftx token (FTT) up 10.6% today, and chainlink (LINK) which has risen 10.3% on Sunday. Uniswap (UNI) has a $12.1 billion market valuation today

Buying a Rolex watch or a Chanel bag with Bitcoins? It becomes possible with LuxFi. With the vision to bridge the gap between real-world luxury assets and digital assets (NFTs), LuxFi has announced the planned launch of its NFT marketplace. The introduction of LuxFi’s marketplace allows everyone to buy, sell and invest in luxury assets through NFTs, with the possibility of using cryptocurrency and traditional payment methods. The phygital world of luxury evolved into an integral part of human experience. With the recent worldwide impact of the COVID-19 pandemic and the increasing demand for luxury assets, the luxury market has delved deeper into digital initiatives. The digital revolution has won over the hearts of consumers worldwide, and the prosperous global luxury market has displayed no signs of stopping soon. LuxFi’s NFT Marketplace LuxFi is among the pioneers in the luxury industry to recognize the potential of NFTs. The company will launch a platform to assist consumers by

On September 24, 2021, the Fantom Foundation announced the launch of a new non-fungible token (NFT) marketplace that aims to compete with the myriad of NFT markets out there today. The market dubbed Artion is an NFT marketplace built on the Fantom network and claims to bolster “0% commissions, with the near-zero transaction costs.” Fantom Reveals Beta Version of the NFT Marketplace Artion A new NFT marketplace has been announced by the Fantom Foundation following the billions of dollars worth of NFT sales stemming from veteran NFT markets that leverage the Ethereum ( ETH ) network like Opensea, Rarible, and Makersplace. In more recent times, the Ethereum network, due to excessive network fees and transaction congestion, has been losing ground to other blockchains like Avalanche (AVAX), Solana (SOL), Binance Smart Chain (BSC), Terra (LUNA), Tezos ( XTZ ), and more. This includes taking money from decentralized finance (defi) and non-fungible token (NFT) sales as other blockchains a

Authorities in Abkhazia have confiscated thousands of mining machines, closing down all large crypto farms, yet they have admittedly failed to put an end to illegal mining operations. The breakaway republic of Georgia has been struggling with power shortages blamed on underground miners. 30,000 Rigs Remain in the Hands of Miners, Government Says In recent years, a growing number of people in Abkhazia , a partially-recognized de facto state in the South Caucasus, have turned to cryptocurrency mining as an alternative income source. However, the government of the Russia-backed republic has targeted the energy-intensive process as a major cause of the territory’s growing electricity deficit. A temporary ban on mining activities and hardware imports was introduced back in 2018 and extended this spring until March 31, 2022. But officials in Sukhumi have recently admitted their efforts to impose the restrictions throughout the region have largely proved unsuccessful. At a press confer

MetaWars is a highly immersive multiplayer strategy game. With an infinite universe that is established in a digital metaverse, players can use a wide variety of NFTs to determine the journey they take in-game. MetaWars allows players all around the world to earn through gameplay, “adopting blockchain into the thriving gaming industry”. The Booming Game Industry The global gaming industry market size is flourishing with a staggering 48% on mobile game returns in 2020. With the rising popularity of the gaming industry, investors are searching for blockchain-based games to play-to-earn and experience state-of-the-art innovations. MetaWars hopes to provide a highly addictive NFT gaming experience for everyone to enjoy and gain profits from interactive challenges and quests. Introducing MetaWars MetaWars is a futuristic sci-fi strategy game with a multi-layered, critical tactic battlefield, allowing players to monetize from the game’s war economy. Players can picture themselves in a

Recently a student from the University of Kent in London was robbed at knifepoint for his bitcoin. After eight thugs stormed his dorm room and demanded that he reveal his crypto credentials and passwords, the student was forced to leave the campus and he moved back home. Freshmen College Student Loses Bitcoin in an On-Campus Mugging A recent report shows that a college student who started the year as a freshman was robbed at the University of Kent, a school located in the historic city of Canterbury. The student’s mother details that five days before starting his course, her son started to talk about cryptocurrencies with a friend from the school. “They were just having lads’ talk. [Then] the conversation turned to [finance] and the friend started talking about cyber currency,” the student’s mother explained. After the discussion, the boy’s friend alleges that the student brought eight friends from East London to visit the student’s room and he instantly “knew he was in trouble,”

Former U.S. treasury secretary and chief economist at the World Bank, Larry Summers, says cryptocurrency will do better regulated in a sound way instead of being treated as a libertarian paradise. Larry Summers Sees Crypto Benefiting From Strong Regulation Lawrence Summers, who served as the Secretary of the Treasury in the Clinton administration and director of the White House National Economic Council in the Obama administration, talked about cryptocurrency regulation during an interview with Bloomberg Friday. A former chief economist at the World Bank, Summers is currently Harvard University’s President Emeritus. He was asked why regulators worldwide are “deeply skeptical” about cryptocurrencies. China, for example, has been cracking down on crypto activities. Summers began by stating that the word “crypto” suggests a “desire for secrecy with respect to large financial sums,” elaborating: When you have large financial sums happening in secret, you have risks of money launderi

Authorities in Indonesia do not intend to follow China’s example of imposing an outright ban on cryptocurrencies, a government official said, noting the country will limit itself to ensuring they are not used in illegal activities. The statement comes after local crypto exchanges registered a serious increase in turnover this year. Indonesia to Tighten Regulations Without Prohibiting Crypto Transactions The Indonesian government will not follow in the footsteps of China, which has confirmed a ban on all cryptocurrency transactions, the country’s Minister of Trade Muhammad Luthfi emphasized in comments to local media. The official added, however, that the government is looking into how to make them less prone to being used in illegal financial activities. Quoted by Berita Satu and the Jakarta Globe, Luthfi stated: We don’t prohibit it, but we will tighten the regulations. Cryptocurrencies such as bitcoin, ethereum, and dogecoin are currently regarded as assets and commodities in

PRESS RELEASE. LD Capital announced it established a 50 million US dollars FOF towards supporting high-quality blockchain funds worldwide. Besides the financial support, hundreds of the projects invested by LD Capital will be shared as resources to the participated funds with post-investment services such as strategy consulting, market growth, and capital relations to enable the outstanding blockchain projects. LD Capital FOF has invested in well-known global funds like 1kx, Kraken Ventures, Republic, Shima Capital, Big Time Eco-fund, Signum Capital, and Hero Ventures. LD Capital FOF will continue to invest global top tier blockchain funds, reach strategic cooperation with more outstanding funds, enable excellent blockchain projects, and promote the development of the blockchain industry. LD Capital is a leading crypto fund in investment and trading in primary and secondary markets, whose sub-funds include dedicated eco fund, FoF and hedge fund. Owing to industrial resources and p

While Pepe the frog and Doge made it into the limelight with unique and rare non-fungible token (NFT) assets, another NFT meme collection tied to the infamous 2010 meme “Wojak” has entered the fray. A new NFT collection stemming from the web portal called rarewojak.com has leveraged the notorious, old-school meme to release a compilation of Rare Wojak NFTs via the Solana network. Meet the Rare Wojak NFT Collection Wojak is an 11-year-old meme that appeared on the now-defunct imageboard Krautchan and after the picture went viral it could be seen regularly on sites like 4chan. Wojak has a number of variants. The meme is also known as “Feels Guy” as people used to comment “I know that feel bro” after posting the meme. One notable Wojak variant is the “NPC Wojak,” which became a viral visual interpretation of individuals who can’t think for themselves. Alongside “NPC Wojak,” there’s also the “Coomer,” the “Doomer,” and “Soyjak.” Just like Doge and Pepe the frog , Wojak is a popular me

As of September 25, 2021, there’s $129.3 billion worth of stablecoin assets in existence which represents 6.54% of the crypto economy. The second-largest stablecoin by market valuation, USDC, has seen its capitalization increase a great deal, rising more than $10 billion in 125 days. Since May, USDC’s Market Cap Increased by 54% In recent times, Bitcoin.com News has reported on the growth of tether (USDT) as the market capitalization of USDT is near $70 billion today as the supply increased 1,500% in five years. Following that report, our newsdesk reported on the decentralized stablecoin called DAI, which is issued by the Makerdao project. DAI’s market capitalization increased more than 800% in 12 months and today the aggregate total of all the DAI in existence is worth $6 billion. Now the second-largest stablecoin by market capitalization, usd coin (USDC) , just recently grew significantly in a mere four months to $30.9 billion. USDC is issued by the Centre Consortium which is

A U.S. senator has asked the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, to provide clear guidance on cryptocurrency regulation. The senator stated that in many enforcement actions, “the SEC did not identify the securities involved or the rationale for their status as securities, which would have provided much-needed public regulatory clarity.” US Senator Wants SEC to Provide Clear Guidance on Crypto Regulation Senator Pat Toomey, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, wrote a letter to SEC Chairman Gary Gensler Friday regarding cryptocurrency regulation. His letter followed Gensler’s testimony before the Senate Banking Committee last week. Toomey began: I write to follow up on the concerns I expressed at the hearing about the need for regulatory clarity around emerging technologies like cryptocurrencies, including stablecoins. Noting that “For investors to benefit from a fair and competitive marketpl

Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.” US Lawmakers Comment on China’s Cryptocurrency Crackdown Following the latest news of China’s crackdown on cryptocurrency, several U.S. lawmakers have shared their views on the situation. Senator Pat Toomey from Pennsylvania said: China’s authoritarian crackdown on crypto, including bitcoin, is a big opportunity for the U.S. It’s also a reminder of our huge structural advantage over China. “Beijing is so hostile to economic freedom. They cannot even tolerate their people participating in what is arguably the most exciting innovation in finance in decades,” he added. “Economic liberty leads to faster growth, and ultimately, a higher standard of living for all.” The pro-bitcoin senator from Wyoming, Cynthia Lummis, who has been

A court in Tatarstan has extended the detention of Kirill Doronin, founder of Russia’s largest Ponzi scheme in recent times, Finiko. Doronin will spend at least two more months in custody as authorities fear he could hide from law enforcement. Ilgiz Shakirov, vice-president of the crypto pyramid, remains under detention as well. Finiko Mastermind Doronin Denied House Arrest Vakhitovsky District Court of Kazan, the capital of the Russian republic of Tatarstan, has decided to keep the two most prominent figures of the Finiko crypto pyramid in custody. This week, the court announced it has extended the detention period for Kirill Doronin, who established the Ponzi scheme in December 2018, until Nov. 28. Finiko defrauded hundreds of thousands of investors before it collapsed in July this year when he was arrested. Three lawyers representing Finiko’s founder asked judicial authorities to place Doronin under house arrest, insisting he has to look after his wife, pregnant with their thi