Bitcoin News and Finance: What You Need to Know

Former teen soap star from the popular television series “The O.C.,” Ben McKenzie, has called out his fellow celebrities for shilling specific cryptocurrency projects. McKenzie calls the trend a “moral disaster” and he’s named a bunch of celebrities that have shilled a few crypto projects to their loyal fans. ‘The O.C.’ Star Ben McKenzie Writes a Scathing Review About His Fellow Celebrities and Their Crypto Participation On October 7, the American actor, writer, and director Ben McKenzie has a problem with his fellow celebrities pushing certain crypto projects. So much so he wrote an opinion editorial denouncing the behavior and published it via the publication The Slate. Ben McKenzie is also a celebrity himself as his first high-profile role was in 2003, when he played “Ryan Atwood” in the television series “The O.C.” McKenzie also starred in the show “Southland” and the television series “Gotham.” The oped written by McKenzie is called “Celebrity Crypto Shilling Is a Moral Dis...

China has proposed adding cryptocurrency mining to the country’s latest “Negative List for Market Access.” This will make cryptocurrency mining an industry that is off-limits to investors, another move by the Chinese government to clamp down on crypto-related activities. China’s Negative List of Industries to Include Cryptocurrency Mining Cryptocurrency mining has been added to the 2021 draft “Negative List for Market Access,” according to an announcement on Friday by China’s National Development and Reform Commission, the state planner. The list was jointly released by the Commission and the Ministry of Commerce. The State Council explained: The negative list for market access outlines sectors, fields, and businesses off-limits for investors. Industries, fields, and businesses not on the list are open for investment to all market players. The list consists of 123 industries in 2020. The number of industries on the list has been reduced to 117 in the current version. Industries...

Binance has announced that it is terminating some services in South Africa to comply with regulations. This move followed a warning issued by the South African financial regulator that Binance Group was not authorized to give any financial advice or render any intermediary services in the country. Binance Ceases Some Services in South Africa Cryptocurrency exchange Binance announced Friday some changes to its offerings in South Africa. Noting that it “constantly evaluates its product and service offerings to comply with local regulations,” Binance said it will “cease offering” futures, options, margin, and leveraged tokens products to South African users. The company added: With immediate effect, South African users will be restricted from opening new accounts for these products. Users will have 90 days to reduce and close their positions for these products. The exchange continued, “Users will be able to top-up margin balances to prevent margin calls and liquidations, but they w...

Digital asset platform Bakkt has announced a partnership with Google “to introduce digital assets to millions of consumers.” With the partnership, Bakkt says consumers will benefit from the “expanded reach and access” to cryptocurrencies. Google Collaborates With Bakkt to Expand Consumer Access to Cryptocurrencies Intercontinental Exchange’s digital asset platform, Bakkt, announced Friday that it has partnered with Google “to introduce digital assets to millions of consumers.” By forming a partnership with Google, Bakkt said: Consumers will benefit from expanded reach and access to digital assets. Launched in 2018 by Intercontinental Exchange Inc., the parent company of the New York Stock Exchange (NYSE), Bakkt enables institutions and consumers to buy, sell, store and spend digital assets, including cryptocurrencies. Bakkt explained that “users will be able to add their virtual Bakkt Visa Debit Card into Google Pay to purchase everyday goods and services online, in-store, or w...

Cryptocurrency can be quite complicated for some and lawmakers in Russia think they need to contemplate restrictions for private investors. According to a high-ranking representative of the legislature, the Russian parliament needs to provide them with “maximum protection” against the risks. Members of Russian Parliament to Seek Protection for Citizens Investing in Cryptocurrency Deputies in the State Duma, the lower house of Russian parliament, are thinking about introducing certain legal restrictions on the funds non-qualified investors can put into crypto assets. Anatoly Aksakov , chairman of the parliamentary Financial Market Committee, revealed the intention during an international conference on consumer protection for users of financial services, Interfax reported. Billions of dollars are being spent on the acquisition of cryptocurrency, Aksakov noted in his statement while highlighting the great risks but also the great returns associated with this type of investment. He the...

Over the last few days, cryptocurrency advocates have been discussing the Sat Symbol initiative, a goal that aims to get a specifically designed symbol to represent the smallest unit of bitcoin and also get the symbol widely adopted. The Sat Symbol has been promoted by a number of crypto luminaries but others have offered alternative ideas. Initiative Attempts to Tie Symbol to Bitcoin’s Smallest Unit Most people know that Satoshi Nakamoto is the inventor of the Bitcoin protocol , the “purely peer-to-peer version of electronic cash” that was launched on January 3, 2009. The word Satoshi has Japanese roots and the name translates into definitions such as ‘quick-witted,’ ‘clear thinking’, and ‘wise.’ Furthermore, the popular anime Pokémon’s lead human character Ash Ketchum’s name is “Satoshi” in Japanese. While the name was used by Bitcoin’s inventor, the term “satoshi” (lowercase) is also the smallest unit of bitcoin. The term satoshi, when referring to bitcoin’s smallest unit, has ...

The cryptocurrency shiba inu has managed to capture the 18th position in terms of crypto market valuations. The token has gained 230% during the last seven days and year-to-date, SHIB has gained a whopping 24,177,682%. SHIB’s Value Swells After Whale Buys $43 Million Worth of Tokens The popular meme-based crypto-asset shiba inu (SHIB) has seen massive gains this year and has propelled itself into the top 20 market positions. At the time of writing, shiba inu has a market valuation of around $11.6 billion. While seven-day stats show SHIB has jumped over 230%, monthly metrics show the crypto asset has gained close to 300%. On Friday, October 8, 2021, there’s $13.9 billion in 24-hour SHIB trading volume. On September 30, 2021, a whale purchased over 6 trillion SHIB just before the price skyrocketed. Shiba inu made its way into the limelight when Ethereum co-founder Vitalik Buterin donated $1 billion worth of SHIB to India’s Crypto Covid Relief. In recent times, Coinbase has l...

The Bitcoin.com Team is excited to announce support for Ethereum-based DApps in the Bitcoin.com Wallet via WalletConnect. Earn interest on your cryptoassets, trade using decentralized exchanges, participate in NFT marketplaces and more. What is WalletConnect? WalletConnect is a bridge that securely connects DApps to crypto wallets. Once you’ve approved the connection between your wallet and a DApp, the DApp can send transaction requests to your wallet, which you must then approve or deny. You can find more information about WalletConnect here . How do you connect to DApps in the Bitcoin.com Wallet? Just go to any DApp website, locate the “Connect” or “Sign in” button, and select WalletConnect as the connection / sign in method. This brings up a QR code and a link. Then, in the Bitcoin.com Wallet, tap the QR code icon on the home screen and either scan the DApp’s QR code, or paste in the link. Once you confirm via the Wallet, you’ll be connected to the DApp. This w...

According to the findings of a study by Afriwise, Kenya, Nigeria, and South Africa have the most developed fintech ecosystems on the continent. The study points to early regulation as one of the reasons for the industry’s success in these countries. Regulated Fintech Ecosystems Attract Investors Explaining the key role that regulation has played in the growth of the fintech sector in these three countries, the study states: The connection between regulations and a flourishing fintech sector is an important one. It is no coincidence that investors and businesses in fintech are drawn to markets with more robust financial regulatory ecosystems. It is one of the reasons that funding remains concentrated in a few markets. Indeed, the three countries along with Egypt “are recognised as the four fintech hubs in Africa, securing 80% of fundraising in 2020.” Importance of Regulation In contrast, investors have steered clear of African countries where there are no fintech regulatory e...

Dapper Labs, one of the most successful companies in the NFT space, has partnered with Chainalysis, a blockchain intelligence company, to increase its compliance profile in the NFT business. The company will use Chainalysis insights to have a better understanding of each one of the transactions that users make with their products and the purpose of each transaction. This will help them detect money laundering instances and market manipulation attempts. Dapper Labs to Use Chainalysis’ Solutions to Increase Oversight Dapper Labs, the creators of notable projects like Cryptokitties and NBA Top Shots, has partnered with Chainalysis , one of the leading blockchain intelligence companies, to increase oversight of transactions involving its products. The company is seeking to have a better understanding of what users are doing with its creations, and if these are indeed being leveraged by bad actors for illicit purposes. NFTs have gotten a bad rap, with some members of the cryptocurrenc...

The central bank of Georgia is advancing its digital currency project. The monetary authority is preparing to launch the CBDC as early as next year and plans to use the blockchain-based version of the national fiat, the Georgian lari, to facilitate retail sales. Georgia to Introduce Digital Lari in 2022 The National Bank of Georgia ( NBG ) intends to pilot its own digital currency in a program scheduled for next year, Vice President Papuna Lezhava revealed this week. Speaking to reporters on Tuesday, the high-ranking official remarked that 85% of the world’s central banks are already working on state-issued digital currencies. Quoted by the Interfax news agency, Lezhava stated: Some are in the research phase, some are testing, some have already implemented it, including China and the Bahamas. We also want to be at the forefront of this trend. The banker further elaborated that a central bank digital currency ( CBDC ) is not cryptocurrency but rather “an evolution of cash.” Never...

PRESS RELEASE. Dreamr Labs flagship product the Dreamr app gains significant traction after its recent $DMR token listing on Bittrex global exchange and sponsoring Charlie Rockets Dream Machine Tour #DMT21 NASSAU, BAHAMAS (OCTOBER 7, 2021) Dreamr (Ticker: DMR ) is the community driven platform created for users to pursue their personal and entrepreneurial dreams. The platform currently helps people to build a tribe around their declared dream or idea and has decentralized financial tools built on the blockchain in its roadmap to help users overcome monetary obstacles. Users can earn DMR tokens through Dreamr’s in-app rewards program by declaring their dream and using the app’s networking features. Dreamr social media sensation Charlie “Rocket” Jabaley recently embarked on a 45-day traveling bus tour set to give away $1 million dollars to app users who declare their dreams. The Dreamr token was recently listed on Bittrex global exchange, trading under the DMR symbol. The com...

Blockchain-based games and NFT trading were the driving force behind dapp adoption during Q3, according to defi insight platform Dappradar. In its Dapp Industry Report: Q3 2021 Overview, Dappradar states that the importance of these new activities in the crypto industry rose dramatically, making the space more diversified and competitive in the process. Defi also got a boost with platforms like Solana and Terra maturing to accommodate more projects. Dappradar: NFTs and Play-to-Earn Were Key During Q3 NFTs and play-to-earn games were very important for the industry during the last quarter, according to the Dapp Industry Report: Q3 2021 Overview issued by Dappradar. The report states the sector has surpassed traditional decentralized apps in unique active wallets, a testament to the popularity of these tools nowadays. The play-to-earn movement attracted more than 754,000 daily unique active wallets during Q3, providing more activity than other more established decentralized finance ...

Moneygram, one of the leaders in the cross-border payments and remittances market, has partnered with the Stellar Development Foundation to use the Stellar blockchain for settlements. The company will use the native version of USD coin (USDC), a popular stablecoin, to simplify and accelerate the process of sending remittances. This also means that Moneygram will act as a fiat on and off-ramp service for USD coin users. Moneygram to Use Crypto for Remittances Moneygram, a Dallas, Texas-based payments and remittances company, has announced a partnership with the Stellar Development Foundation, the development and growth arm for the Stellar blockchain, to make use of its capabilities for settling payments and facilitating remittances. The company will use the native version of USDC on the Stellar blockchain to move funds in a more easy and effective way. However, neither Moneygram nor Circle are banks. United Texas Bank will serve as a settlement bank between Circle and MoneyGram, ac...

Soros Fund Management, founded by billionaire investor George Soros, has invested in bitcoin. The CEO of the asset management company says bitcoin is not just an inflation hedge: “I think it’s crossed the chasm to mainstream.” Soros Fund Management’s CEO Says Bitcoin Has Gone Mainstream Soros Fund Management, the asset management company founded by billionaire investor George Soros, has invested in bitcoin, the fund’s CEO, Dawn Fitzpatrick, revealed in an interview with Bloomberg, published Tuesday. Fitzpatrick is both the CEO and chief investment officer (CIO) of Soros Fund Management. She is the first person to hold both titles. Discussing inflation, she said, “If you watched gold in September, it was down 5% so I think the fear of the debasing of the U.S. dollar has receded to a degree.” In addition, she noted, “The IMF just came out with kind of reserve currency balances and the U.S. dollar has stopped losing ground.” Nonetheless, bitcoin is trading above $50K. Commenting on ...

Global investment bank JPMorgan says institutional investors are returning to bitcoin, seeing the cryptocurrency as a better hedge than gold. The firm’s analysts describe three key drivers boosting the price of bitcoin in recent weeks, including assurances that U.S. policymakers will not ban cryptocurrencies. JPMorgan Sees Renewed Interest in Bitcoin JPMorgan published a research note Thursday stating that institutional investors are returning to bitcoin. Citing the trend of money flowing out of gold into BTC , the firm’s analysts wrote: Institutional investors appear to be returning to bitcoin perhaps seeing it as a better inflation hedge than gold. The analysts explained that there are three key drivers pushing the price of bitcoin from about $40K to about $55K in a short period of time. The price of bitcoin is $53,853.14 at the time of writing based on data from Bitcoin.com Markets . The first is “The recent assurances by U.S. policymakers that there is no intention to foll...

Investing platform Public, with over 1 million users, is rolling out cryptocurrency trading. “Crypto is gaining momentum as a compelling asset class for millions of investors,” the company said. Public Launches Cryptocurrency Trading Investing platform Public describes itself as “the investing social network where members can own fractional shares of stocks and ETFs [exchange-traded funds], follow popular creators, and share ideas within a community of investors.” The company announced Thursday: Today, we’re adding crypto on Public. Members will be able to buy, sell, and hold crypto assets in the same app they use to manage their stock market portfolios. “Members can now explore ten cryptos in the app: bitcoin ( BTC ), ether ( ETH ), cardano ( ADA ), dogecoin (DOGE), litecoin ( LTC ), bitcoin cash ( BCH ), stellar ( XLM ), ethereum classic ( ETC ), dash ( DASH ), and zcash (ZEC),” the company detailed. “The offering will be rolled out to eligible members gradually over the next ...

Wall Street is often touted as the place where dreams come to life, but the world’s economic epicenter can also be an absolute nightmare. From brokers screaming at each other across trading floors to the modern electronic trading systems of today, money talks in Wall Street. However, while the NYSE houses over $28.5 trillion in assets, there’s still a lot left unsaid. On Wall Street, it is believed that history doesn’t repeat itself, but rhymes. The world’s financial systems have failed consistently over time, but when Phemex’s founder Jack Tao initially joined Morgan Stanley in 2009, nothing could have prepared him for the restrictive design financial markets utilized towards retail investors. From censoring trades inflating fees to conducting deals with exclusive partners away from the public’s attention, Jack started seeing the system as it was — skewed in favor of the rich and influential. The name ‘Phemex’ comes from two words — ‘Pheme,’ the Greek God of fame, who was a conduit...

About five years ago, Bitcoin.com News reported on the notorious Pepe the frog getting added to the blockchain collectible world after the non-fungible token (NFT) cards were minted on the Counterparty protocol in 2016. Now the creator of Pepe the frog, Matt Furie, has added his flare to the mix with a special NFT featuring his original green amphibian creation. Crypto Fans Get Their First Introduction to Counterparty Rare Pepe NFTs in 2016 Back in 2005, when Matt Furie introduced Pepe the frog to the world, he did not expect it to garner such virality across the web. At the time, he didn’t even know what a meme was when he crafted the green frog that is now shared far and wide across the web. More than ten years later, in 2016, Pepe the frog was a legend and cryptocurrencies were in the midst of changing course toward another climactic bull run. In October 2016, Bitcoin.com News reported on the Rare Pepe blockchain cards that were introduced via the Counterparty blockchain . At...

Members of the parliament in Kazakhstan have proposed the establishment of a state register for cryptocurrency farms operating in the country. Alarmed by the growing consumption of energy in the sector, the lawmakers also want to charge miners a higher price for the electricity they use. Mazhilis Members Want Miners in Kazakhstan to Register With Government, Pay More for Power A group of deputies from the Mazhilis, the lower house of Kazakhstan’s bicameral legislature, have voiced concerns over the growing electricity demand. The parliamentarians believe the surge is due to the influx of crypto mining companies into the country, attracted by its low energy prices. Members of the People’s Party of Kazakhstan have put forward proposals to deal with the escalating situation. According to a report by Tengrinews, the lawmakers have urged Deputy Prime Minister Roman Sklyar to create a special register for crypto farms that mint digital currencies in the country. Zhambyl Ahmetbekov, on...

The price of bitcoin soared past the $55K handle on Wednesday for the first time in four months giving proponents hope the crypto bull run has been re-ignited. Speculators are predicting a bitcoin exchange-traded fund (ETF) will be approved soon and some believe bitcoin will outperform other crypto assets this month. ETF Analyst Eric Balchunas Discusses Bitcoin Exchange Traded Fund Approval Odds While 13 digital currencies outperformed bitcoin ( BTC ) this past week, BTC has been a top performer gathering 34.2% over the last seven days. On Wednesday, statistics indicate that BTC gained more than 7% in value and tapped a daily high of $55,800. One of the reasons behind bitcoin’s price spike is the rumor that an exchange-traded fund (ETF) may get the green light from the U.S. Securities and Exchange Commission (SEC). Bloomberg ETF analyst Eric Balchunas discussed his opinion of the possibility on October 2 and shared a screenshot of the odds. Balchunas also mentioned SEC chairman G...

Since the beginning of the COVID-19 pandemic and after an initial dip, the stock market has performed exceptionally well for such an economically uncertain time. The SPDR S&P 500 electronically traded fund (ETF), which provides a good indicator of the stock market’s overall performance, has increased in value by 32% year-over-year (YoY) and 39% since the beginning of January 2020. While these returns are impressive, the performance of Bitcoin has surpassed expectations and greatly exceeded the performance of the S&P 500. Bitcoin’s value has drastically increased by 554% since the beginning of 2020 and by 352% YoY. As Figure 1 highlights, these are far beyond those of the stock market and most any other asset class. Bitcoin’s price during this time rose from $7,175 and $10,382, respectively, to $46,898. For the past 4 years, Cash2Bitcoin has helped new investors across the United States gain access to this asset by providing physical locations where Bitcoin can be purchased,...