Bitcoin News and Finance: What You Need to Know

Mining hardware manufacturer Bitmain will no longer ship its products to mainland China. The move is in response to local regulations, the company explained. The announcement follows a prolonged crackdown on crypto mining operations in the country and a recently reiterated wide ban on activities related to cryptocurrencies. Bitmain Stops Mining Rig Deliveries to Mainland China Referring to its commitment to abide by law and regulations in the jurisdictions where its entities operate, mining equipment producer Bitmain announced it terminates deliveries to the People’s Republic of China. In a statement published on Sunday, Bitmain said: From October 11, 2021, Antminer will stop shipping to mainland China. The company noted that “for customers in mainland China who have purchased long-term products, our staff will contact them to provide alternative solutions.” It did not share further details about the arrangements. Bitmain emphasized that the decision for the Chinese market does...

New Bybit users can get up to $600 in welcome rewards upon completing simple tasks and hitting trading milestones after signing up. The rewards include an exclusive $50 coupon when a new user makes a first time deposit of at least 0.05 BTC or equivalent within 48 hours of joining the cryptocurrency exchange. If they miss the 48-hour mark, they will still be rewarded with a $20 coupon for making a deposit. In addition, new users who follow any of Bybit’s social media accounts within 14 days of joining Bybit will be rewarded with a $5 coupon immediately, which can be used to offset trading fees. For every trading milestone reached, be it big or small, new users will be able to stack bonus rewards. Those who successfully refer a friend to Bybit will also receive a $20 bonus (their referee will also receive a $20 bonus). These users will be guaranteed additional rewards each time their friend hits a trading volume milestone, including a chance to win a $500 bonus. Here are more reas...

55 days from now will be the hundred-year anniversary of when the American industrialist and business magnate Henry Ford talked about a unique “energy currency” that could “stop wars.” The well known founder of the Ford Motor Company suggested that a currency could be backed by energy in kilowatt-hours (kWh) in a similar fashion to the way energy is leveraged to mine bitcoin. New York Tribune, December 4, 1921: ‘Ford Would Replace Gold With Energy Currency and Stop Wars’ Close to 100 years ago on December 4, 1921, Henry Ford discussed an idea he conceived in the New York Tribune . The title of the published article was called “Ford Would Replace Gold With Energy Currency and Stop Wars.” Ford is well known for developing the assembly line technique and creating one of the first mass-produced American-built automobiles. Ford’s energy currency concept describes a digital currency much like Satoshi Nakamoto’s Bitcoin and one that is also scarce. Not only would Ford’s energy currency ...

By the end of next year, at least five countries will have accepted bitcoin as legal tender, the CEO of cryptocurrency exchange Bitmex has predicted. He cited three key reasons why he arrived at this conclusion. “Developing countries will jump into crypto in 2022,” he said. More Countries Will Adopt Bitcoin as Legal Tender The CEO of cryptocurrency exchange Bitmex, Alex Hoeptner, has predicted that developing countries will lead the way in bitcoin adoption. He detailed last week: My prediction is that by the end of next year, we’ll have at least five countries that accept bitcoin as legal tender. All of them will be developing countries. Here’s why I think developing countries will jump into crypto in 2022. The CEO offered three main factors driving the adoption of bitcoin in developing countries and why he came up with this prediction. The first is remittances. Remittances made up 23% of El Salvador’s GDP in 2020, Hoeptner described. Citing data from the World Bank, he added t...

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, thinks the dogecoin rival shiba inu token (SHIB) is “pointless,” criticizing its supply. The cryptocurrency skyrocketed 230% over the past week. Michael Burry Shares His View on Shiba Inu Token Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, commented on the shiba inu token (SHIB) Saturday after the dogecoin rival cryptocurrency surged 230% over the past week. Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale. The Big Short investor shared Coinbase’s description of the shiba inu token on Twitter Saturday, which states: “Shiba inu (SHIB) is a token that aspires to be an Ethereum-based alternative to dogecoin (DOGE), the po...

A commissioner with the U.S. Securities and Exchange Commission (SEC) says that true decentralized projects pose a challenge to crypto regulation. Noting that “decentralized finance carries within itself inherently some ability to self regulate,” the commissioner said, “we need to take that into account as we design a regulatory system.” SEC Commissioner Peirce Discusses Crypto Regulation and Decentralized Finance SEC Commissioner Hester Peirce talked about cryptocurrency regulation in an interview with Yahoo Finance, published last week. Peirce is also known in the crypto community as “crypto mom” for her knowledge and support of the crypto space. She was asked about whether the SEC has any trouble catching up with developments in the crypto space and protocols which are advancing and changing very quickly on a daily basis. “There is certainly difficulty on the part of a regulator to stay on top of developments in defi [decentralized finance] and crypto more generally,” Peirce ad...

PRESS RELEASE. HONG KONG – 10th October 2021 – Refinable , a leading decentralized NFT marketplace, is taking a step forward in realizing advanced use cases for NFT applications. In a keystone partnership with high-end jewelry maker NALAS , and the support of Sotheby’s , Refinable will be the first marketplace to provide item authentication with NFTs for the high-value jewelry piece known as “ Shining Stars ”. Valued at upwards of $300,000 HKD, “Shining Stars” is studded with over 200 diamonds to reconstruct the star-filled nights seen throughout Vincent Van Gogh’s artwork. Online review and bidding of the auction of “Shining Star” will start in Sotheby’s “ Magnificent Jewels: Part II ” from 5 October until 28 October. The successful bidder will receive a proof of purchase and proof of authenticity in the form of a digital NFT from Dias Group Limited. Leveraging the Ethereum blockchain, all associated information about the sale will be stored publicly and be available for anyone ...

As bitcoin’s value has increased, the global hashrate has been steadily climbing higher week after week. On Sunday, the hashrate dedicated to the Bitcoin network is hovering just above the 155 exahash (EH/s) handle and bitcoin’s price has made a great number of mining rigs more profitable. Older generation mining rigs like Bitmain’s Antminer S9 series with hashrate speeds around 11 TH/s or higher are also profiting. Bitcoin Hashrate Climbs, Mining Rigs Gather Higher Profits Six days ago, Bitcoin’s overall hashpower was around 130 exahash per second (EH/s) and today it’s up 19.23% at 155 EH/s. Bitcoin ( BTC ) markets have been doing well this week up 15.9% during the last seven days. On Sunday, a single BTC is exchanging hands for just above the $55K zone and there’s $35.2 billion in global trade volume. The higher price per BTC has made it so mining rigs are more profitable than they once were a few weeks ago in September. Using today’s BTC difficulty and electrical costs of ar...

Sri Lanka’s leading online retailer, Kapruka, has unveiled plans to introduce support for cryptocurrency payments. The news comes as the South Asian country intensifies efforts to adopt legislation tailored to regulate its blockchain space and attract investments from the crypto industry. Kapruka to Launch Cryptocurrency Payments Within Weeks Kapruka ( Kapruka.com ), a major e-commerce platform in Sri Lanka, has revealed its intention to start accepting payments in cryptocurrency quite soon. Kapruka’s founder and Chairman Dulith Herath made the announcement on Twitter this week. Quoted by the Sri Lankan Daily Mirror newspaper, the executive stated: Kapruka plans to accept crypto payments within the next couple of weeks. Founded in 2005 by the Sri Lankan entrepreneur and web-technology specialist, Kapruka has established itself through the years as Sri Lanka’s largest retailer on the internet. Besides its core business, it has also ventured into cross-border e-com exports and las...

While the world of non-fungible token (NFT) assets continues to swell, the notorious artist and art forger Wolfgang Beltracchi has joined the NFT industry with a collection of NFTs called “The Greats.” Beltracchi is well known for admitting that he forged hundreds of paintings and sold the artworks in the name of the original famed artists like Heinrich Campendonk, Fernand Léger, and Max Ernst. Wolfgang Beltracchi Introduces ‘The Greats’ Collection An infamous artist who got caught selling forged art from some of the world’s most beloved artists, Wolfgang Beltracchi, is jumping into the fray of non-fungible token (NFT) collectibles. The German art forger and his wife admitted to selling artworks from 14 different pieces that sold for roughly $45 million. However, Beltracchi claimed to have re-created the works of “about 50 artists” and also said his profits exceeded $100 million. After a 2011 trial in Germany, Beltracchi was found guilty and served a touch over three years for his...

23 days ago on September 16, cross-chain bridges held around $7.79 billion total value locked (TVL) and since then the TVL has increased 89% since then to $14.75 billion. Currently, the top bridges include network connections like Polygon Bridges with $4.5 billion, Fantom Anyswap Bridge with $4.1 billion, and the Avalanche Bridge with $3.2 billion. Cross-Chain Bridge Technology Swells Decentralized finance (defi) and cross-chain bridge technology have continued to grow in value this year. A cross-chain bridge allows users to connect to another blockchain, which in most cross-chain cases the other network has been the Ethereum chain, and users can swap assets back and forth between each blockchain. Last month, Bitcoin.com News reported on an in-depth study that covers the myriad of multi-chain bridges that exist today. At that time on September 16, metrics from Dune Analytics ’ “Bridge Away (L1 Ethereum)” dashboard indicated that bridges held $7.79 billion total value locked (TVL)....

PRESS RELEASE. Bitcoin is not just the first cryptocurrency to have come onto the scene – the role of this asset has substantially increased in recent years. Giant corporations like Tesla and Xiaomi have added BTC to the list of payment options, while El Salvador has made Bitcoin a legal tender within the country. According to market capitalization, only Amazon, Google, Saudi Aramco, Microsoft, and Apple surpass the first cryptocurrency, hence the crypto market still has a huge potential to grow . Merchants are aware that innovations are inevitable and they must keep up with the times. This is why a Bitcoin payment gateway has become a “must-have feature” for today’s businesses. Top-3 Reasons to Accept Bitcoin Payments Why should a business owner add this option? The overall number of crypto holders is booming – 300+ million people hold BTC , USDT , and other digital assets. This is why your target audience could drastically skyrocket. Bitcoin payments are cheaper as no thi...

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has confirmed the country’s upcoming digital currency will be launched “in a couple of days from now.” According to the governor, the digital currency which is also known as the e-naira will be the first of its kind in Africa. Nigeria to Launch CBDC in Days Emefiele’s reassurances to Nigerians follow the CBN’s deferment of the e-naira launch to an unknown date. Sources disclose Emefiele said on Thursday the e-naira CBDC will make Nigeria “one of the first countries in Africa to adopt the digitisation of its national currency.” As previously reported by Bitcoin.com News, the central bank claimed it had postponed the e-naira’s launch because this would have clashed with the country’s independence day celebrations. However, some observers have speculated that the deferment may have been necessitated by a legal challenge that was brought against the central bank by a Nigerian firm. A Nigerian court has since rul...

On October 8, the leading California-based talent agency Creative Artists Agency announced it has inked a deal with the infamous non-fungible token (NFT) asset collector known as “0xb1.” The influential talent agency aims to help the pseudonymous 0xb1 monetize the vast NFT collection and bolster “blue-chip brands looking to enter the NFT space.” 0xb1 Partners With Creative Artists Agency to Bolster ‘Advisory Partnerships’ This week the well known talent agency based in Los Angeles, Creative Artists Agency (CAA), revealed it has partnered with a crypto NFT whale called “ 0xb1 .” The character has a Twitter profile and 53,000 followers after joining the social media platform in November 2020. On Friday, CAA told The Hollywood Reporter that it has signed a deal with the pseudonymous 0xb1 and it aims to help “monetize their collection of NFTs through licensing and brand partnerships.” Super proud to be a part of the CAA family! Will work hard to bring open license NFT brands & p...

Another batch of Russian online crypto exchanges in Russia face closure following a recent decision by a regional court. Information published on their websites has been deemed illegal meaning the country’s telecom watchdog can block access to their platforms. Roskomnadzor May Take Down Blacklisted Crypto Exchanges A number of websites providing options to exchange, cash out, and transfer cryptocurrency using various payment methods may be blocked by Russia’s telecom regulator, Roskomnadzor, if their operators don’t delete the illegal web pages. The threat for the online crypto platforms stems from a court ruling recognizing their content as prohibited. In early September, the Kushnarenkovsky District Court in Bashkortostan, a republic of the Russian Federation, confirmed that the information they are disseminating is banned under current law, Forklog reported. The register of banned Russian websites, maintained by the non-government organization Roskomsvoboda, lists 17 sites aff...

A Cameroonian fintech start-up, Ejara, has raised $2 million to pioneer the usage of crypto and investment services in French-speaking African countries. Coinshares Ventures and Anthemis Group led the funding round in which they were joined by Mercy Corps Ventures, Lateral Capital, Lofty Inc Capital, and Netx Fund. Using Crypto to Protect Savings in Francophone Africa According to a report, the start-up, which was founded by Cameroonian Nelly Chatue-Diop, wants to “level this playing field for the average French-speaking African so they can invest as little as $9 (CFA5,000).” In addition, Chatue-Diop hopes that through this start-up, the non-elites from this region can also save and avoid going through the painful experience of losing everything as her family did. “I was really young and we were part of the middle class. Overnight all our savings dwindled and the aftermath was that the government couldn’t even pay salaries. So even at that tender age, I asked myself how we managed ...

In preparation to regulate its fintech space, the government of Sri Lanka has established a special committee tasked to formulate the country’s policy on digital banking and crypto-related activities. The committee comprises professionals from the public and private sectors. New Committee to Propose Rules for Blockchain Industry in Sri Lanka Sri Lankan authorities have unveiled the composition of а newly established committee of experts gathered to formulate the nation’s policy in three key areas related to cryptocurrencies, the local Daily Mirror reported on Saturday. The members are expected to present regulations for entities operating in the digital banking, blockchain, and cryptocurrency mining industries. According to an announcement by the Government Information Department, the professionals involved in the project are Viraj Dayaratne, chairman of the Securities and Exchange Commission of Sri Lanka, Rajeeva Bandaranaike, CEO of the Colombo Stock Exchange, and Dharmasri Kumar...

On October 9, whistleblower and privacy advocate Edward Snowden published an opinion editorial concerning central bank digital currencies (CBDCs) and claimed CBDCs are “the newest danger cresting the public horizon.” Snowden stressed that rather than being an innovation, CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency.” Snowden Stresses CBDCs ‘Are Expressly Designed to Deny Its Users the Basic Ownership of Their Money’ While politicians and the modern banking cartel have been all about central bank digital currencies, a great number of critics believe they are no different than centralized databases. On Saturday, the former Central Intelligence Agency (CIA) and National Security Agency (NSA) subcontractor, Edward Snowden , published an article describing what he thinks CBDCs will bring to society. Snowden is a fan of decentralized crypto assets like bitcoin, ethereum, and zcash. However, when it comes to CBDCs the whistleblower is concerned ...

U.S. Senator Cynthia Lummis has disclosed her bitcoin purchase worth between $50K and $100K. The senator from Wyoming sees bitcoin as an “excellent store of value” that should be in every investment portfolio. Senator Lummis Buys Bitcoin The pro-bitcoin senator from Wyoming, Cynthia Lummis, disclosed her recent bitcoin purchase in a periodic transaction report (PTR) Thursday. According to the filing, the senator bought BTC worth between $50,001 and $100,000 on Aug. 16. The price of bitcoin was around $45K at that time. The disclosure was made outside of the 45-day reporting deadline set by the Stop Trading on Congressional Knowledge (STOCK) Act. The Act requires members of Congress to disclose every purchase and sale of individual stocks, bonds, and commodity futures valued over $1,000 within 45 days of the transaction. A spokesperson at Senator Lummis’ office told CNBC that the disclosure delay was due to “a filing error,” stating: Once we realized it we worked with the Ethic...

Non-fungible token (NFT) assets have been extremely popular in 2021 and it doesn’t seem like the NFT hype is going away any time soon. A number of NFT collections have propelled the industry to new heights with enormous sales, outpacing some of the most popular auctions selling physical items. One specific NFT project called Bored Ape Yacht Club (BAYC) has seen $542 million in lifetime sales between 8,749 traders. Moreover, on Friday, the official BAYC Twitter account announced the project plans to launch a token in the first quarter of next year. Bored Ape Yacht Club NFT Collection Captures $542 Million in Lifetime Sales There’s definitely been a few artists that have made millions of dollars selling single NFTs to buyers willing to pay for the cryptographic-backed collectibles. For instance, Beeple is well known for his NFT work, and one of his pieces sold for $69 million at Christie’s. Then there are the NFT collections that have also fueled the NFT craze like Cryptopunks, Art B...

PRESS RELEASE. Blockchain company DRepublic has announced the launch of their innovative combinable NFT platform MetaCore, and NFT product Legoot, using the new EIP-3664 Modularity. Blockchain MMORPG game “Cradles: Origin Of Species” creators DRepublic have now developed the first-ever combinable NFT platform MetaCore, using the new EIP-3664 Modularity. With this groundbreaking new technology, DRepublic has also developed the first combinable NFT product: Legoot, and simultaneously opened up a whole new world of possibilities within both the NFT space and the wider blockchain industry. What is EIP-3664? EIP-3664 is the next infrastructure layer for NFTs and on-chain development, bringing notable functionality improvements on the previous 1155 (multi-token) & 721 (non-fungible token) standards. The most relevant advancement EIP-3664 offers is its disaggregation and assemblage characteristics which enable the arbitrary combination of all NFTs. The most important features of EIP...