Bitcoin News and Finance: What You Need to Know

Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrency is getting closer to posing a threat to global financial stability due to the sector’s rapid growth. Crypto is also being integrated into the traditional financial system at a rapid rate. He urges regulators to take action now. Bank of England’s Jon Cunliffe Warns Crypto Is Closer to Becoming a Threat to Global Financial Stability Sir Jon Cunliffe, Bank of England’s deputy governor for financial stability, talked about bitcoin and cryptocurrencies in general on BBC’s Today program Monday. He warned that cryptocurrencies, including bitcoin, are getting closer to becoming a threat to global financial stability due to their rapid growth. Cunliffe said: My judgement is they’re not, at the moment, a financial stability risk, but they are growing very fast, and they’re becoming integrated more into what I might call the traditional financial system. The Bank of England official...

PRESS RELEASE. INTERNET CITY, DUBAI, Nov. 15, 2021 – LBank Exchange, a global digital asset trading platform, will list LMCSWAP (Limocoin Swap) on November 15, 2021. For all users of LBank Exchange, the LMCSWAP/ USDT trading pair will be officially available for trading at 21:00 (UTC+8) on November 15, 2021. In the ever-evolving African continent, blockchain technology and crypto are changing its economic landscape dramatically. Limocoin Swap (LMCSWAP) is a token created to allow, by the principle of crypto assets, the evolution of market solutions. The LMCSWAP token will be listed on LBank Exchange at 21:00 (UTC+8) on November 15, 2021, to further expand its global reach and help it achieve its vision. Introducing Limocoin Swap Limocoin Swap is based on a strong community built in four years by one of the subsidiaries of the parent company SIMTREX COMMERCIAL BROKERS LLC, GIT S.A. The premium product Liyeplimal is a private investment tool in the cryptocurrency industry, through ...

The CEO of the world’s largest movie exhibition company, AMC Entertainment, says that payment service provider Bitpay has agreed to support the meme cryptocurrency shiba inu (SHIB) at his request. AMC will be able to accept shiba inu crypto for payments within the next few months. AMC Says Bitpay Agrees to Support Shiba Inu: SHIB to Be Accepted for Payments at AMC Soon AMC CEO Adam Aron announced Monday evening that AMC will soon be able to accept the meme cryptocurrency shiba inu (SHIB). AMC is the largest movie exhibition company in the U.S., Europe, and the world. As of March 31, the company owned or operated about 950 theaters and 10,500 screens globally. He tweeted that crypto payment service provider Bitpay has decided to support shiba inu specifically because he asked them to. Therefore, AMC will be able to take SHIB for online payments of movie tickets and concessions in about 60 to 120 days. Aron added that AMC Theatres is set to become the first Bitpay client to accept sh...

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says that he has never shorted any cryptocurrency. He further warned that the current bubble is the biggest one. Michael Burry on Bubbles and Shorting Cryptocurrencies Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, has confirmed on Twitter that he has never shorted cryptocurrency. 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. He tweeted Sunday: I’ve never shorted any cryptocurrency. This is my third bubble, and the biggest. I’ve learned a thing or two. 30 year Treasuries on the other hand… In October, he said, “I believe that cryptocurrencies are in a bubble.” However, he clarified in an interview with CNBC that h...

Investment firm Paradigm has launched a $2.5 billion venture fund to invest in the next generation of crypto companies and protocols. The firm believes that the “new fund and its size are reflective of crypto being the most exciting frontier in technology.” $2.5 Billion Fund for Crypto Industry Investment firm Paradigm announced Monday the launch of a $2.5 billion venture fund to invest in the next generation of crypto companies and protocols. Matt Huang and Fred Ehrsam, who co-founded Paradigm in 2018, explained: Our conviction in these beliefs has only strengthened over the past three years, and we are pleased to announce a new $2.5 billion venture fund to continue investing in the next generation of crypto companies and protocols. “This new fund will invest alongside our existing flagship fund across all stages and geographies,” they noted. Ehrsam also co-founded the Nasdaq-listed crypto exchange Coinbase. Huang was previously a partner at Sequoia Capital focusing on early-s...

PRESS RELEASE. SEYCHELLES, 15 November 2021 – CoinFLEX , leading crypto exchange and yield platform, has partnered with Copper.co, a global digital asset custodian and trading solutions provider by integrating with their ClearLoop instant settlement trading network. The partnership expands CoinFLEX’s crypto yield products to more institutional investors globally, starting with flexUSD, the world’s first interest-earning stablecoin. This partnership will help accelerate flexUSD to a US$1 billion market cap by Q1 2022. flexUSD is currently paying 16% APY and has distributed $11 million in interest to holders over the past 12 months. The partnership will enable Copper’s 300+ institutional asset managers to trade flexUSD on CoinFLEX while securely storing their assets offline and off the exchange. The integration with ClearLoop adds an extra layer of regulatory assurance for institutional investors, while providing more crypto trading options to Copper’s clients. ClearLoop connects e...

While bitcoin’s value has remained well above the $60K range, the network’s hashrate has surged to over 184 exahash per second (EH/s) as mining devices are far more profitable at these prices. The price has made it so that older generation mining devices manufactured over four years ago, with processing power of more than 8 terahash per second (TH/s), can make a daily profit mining the leading crypto asset. Bitcoin Hashrate Follows Ethereum’s Hashrate Toward All-Time Highs On November 15, 2021, Bitcoin’s hashrate climbed to 184 EH/s gathering 17.19% more hashpower than the network saw a mere two days ago on November 13 . Bitcoin’s (BTC) hashrate is getting close to nearing its all-time high (ATH), which was recorded on May 9, 2021, at 191 EH/s. Today’s Bitcoin hashrate metrics show that the hashpower is only 3.8% away from surpassing its ATH, according to coinwarz.com data. In addition to BTC ’s hashrate nearing ATH, the second-largest crypto asset in terms of market valuation, e...

During the last week, mainstream media outlets have been publishing reports that say “Bitcoin’s creator Satoshi Nakamoto could be unmasked at [a] Florida trial.” Alongside this, the name “Satoshi Nakamoto” has been trending in people’s discussions on social media for the last few days as well. The Internet Is Buzzing Over Conversations Concerning Bitcoin’s Mysterious Creator Last week, the long-awaited Kleiman v. Wright trial started in Florida and the court case has sparked significant interest from mainstream media publications like Fox News , the Daily Mail , and the Wall Street Journal . Vertical trends on Twitter also indicate that the name “Satoshi Nakamoto” has been in the midst of many conversations this week. Since October 2, interest in Bitcoin’s creator has increased 48.71%, according to Google Trends’ search query score for the topic “Satoshi Nakamoto.” The aforementioned media publications have been asserting in a few editorials that the Florida trial could uncover t...

India’s parliamentary committee on finance has held a meeting with representatives from the crypto industry and other stakeholders on cryptocurrency and its oversight. “There was an understanding that cryptocurrency can’t be stopped but it must be regulated” and “There was a consensus that a regulatory mechanism should be put in place to regulate cryptocurrency.” First Parliamentary Meeting Dedicated to Crypto With Stakeholders and Industry Experts India’s Standing Committee on Finance held a meeting with representatives from the crypto industry Monday. This was India’s first-ever parliamentary discussion of the broad subject of crypto finance involving the industry. According to a notice posted by Lok Sabha Secretariat, the official agenda of the meeting circulated to members of parliament was to hear the views of associations and industry experts “on the subject of ‘cryptofinance: opportunities and challenges.’” The meeting was chaired by BJP’s Jayant Sinha. Sinha told news agen...

On Monday, the enterprise bitcoin mining operation Marathon Digital Holdings announced the firm will raise $500 million from convertible senior notes in order to accrue more “bitcoin or bitcoin mining machines.” Publicly-Listed Mining Operation to Raise $500M From Debt Markets to Purchase Bitcoin and ASIC Devices Marathon ( Nasdaq: MARA ), is one of the largest U.S. mining operations and on November 15, the firm revealed it plans to utilize debt markets for “general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines.” The news comes after significant growth during the course of 2021 and at the end of October, Marathon disclosed it had mined 417 bitcoin ( BTC ). With over $457 million worth of bitcoin held in its coffers, the 417 BTC revenue was considerably larger than the month prior. “As in prior months, our bitcoin production was impacted by maintenance-related outages at the power plant in Hardin, MT and increases in the total network hash rat...

Singapore, November 15, 2021 – The Tron Foundation ( TRX ), the world’s largest blockchain decentralized application operating system, and crypto-fiat hybrid payment solutions provider, Alchemy Pay (ACH), have announced a collaboration. Alchemy Pay will integrate the TRX token into its global crypto-fiat gateway. The partnership also further entails the support of Alchemy Pay by the Tron Foundation in the provision of technical resources, cross-community promotions, and other ecological development initiatives that will foster joint efforts between Alchemy and TRON ecosystems. This partnership comes on the back of the successful test trading of TRX tokens through Bit.Store, a crypto investment platform powered by Alchemy Pay. Bit.Store is an intuitive crypto trading platform popular among new crypto investors with 500,000 users across Australia, Canada, Hong Kong, Indonesia, and the United Kingdom. The platform leverages Alchemy Pay’s fiat payment rails to enable direct fiat-to-cr...

The government in Cameroon, which is reportedly keen on regulating cryptocurrencies, is set to hold a workshop that will look at the challenges and risks of using such digital currencies in the country. Proliferation of Scams According to a report by Business in Cameroon, the workshop, which is set to be held on November 15 in Yaounde, is being organized by the Ministry of Posts and Telecommunications. At this meeting, participants are expected to review mechanisms that will help the government to regulate the cryptocurrency sector. The ministry said the country’s lack of a regulatory framework, which has led to the proliferation of scams, had prompted the government to organize the workshop. The report also revealed that the ministry will not only highlight the importance of regulation but will seek to map out cryptocurrency actors present in Africa and in the national territory. In addition, the ministry will attempt to use the meeting to estimate the extent to which the servic...

Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before a final decision is made, a government minister has said. The Importance of Getting the Views of Stakeholders In his remarks during an interview with The Citizen, Mudrick Soraga, who is the Minister of State, revealed his government is planning to meet stakeholders in the third week of November. Soraga also explained why such a meeting is necessary. He said: We are seeking views on the matter before deciding whether it is viable or not. You cannot make such a decision without getting input from stakeholders, including banks and the ministries of Finance and Foreign Affairs. According to the report by The Citizen, Soraga has already met with Joe Chuene, a representative of Hypertech and they discussed how best the island nation can adopt cryptocurrencies. The report also quotes Haji Semboja, a professor at the State University of Zanzibar’s Economics Department, who endorses t...

A new crypto tax paradigm is brewing in Argentina, where two provinces have now approved crypto tax laws. This means that Argentinian citizens must disclose their cryptocurrency holdings and pay taxes according to the trades they do in the provinces of Tucuman and Cordoba. This is because cryptocurrencies have been grouped with all other international currencies, and are therefore subject to tax. Cryptocurrencies Will Be Taxed in Certain Provinces of Argentina Cryptocurrency taxes have arrived in Argentina, at least in certain provinces. Now, users that trade and hold cryptocurrencies must disclose their earnings and pay taxes at least in two provinces: Cordoba and Tucuman. The reason behind this lies in a new regulation adopted at the province level that stipulates cryptocurrencies will be taxed like other international currencies when traded. This means that effectively, in these two provinces, cryptocurrencies are treated as other international currencies according to regulation...

William Quigley loved baseball cards during his pre-teens. As the founder of WAX (Worldwide Asset Exchange), you might think Quigley’s crowning achievement may have been to strike a deal with Topps Baseball Card company, so WAX could manage and create NFTs with the MLB. However, Quigley was able to add another giant feather to his cap as WAX recently completed the rare “hat trick” as the official NFT partner for the toy industry’s “big three” – Funko, Hasbro and Mattel. WAX was already a trusted partner for many, working with well-known intellectual property including “SAW”, “The Princess Bride”, “Blade Runner”, and already had multiple massively successful NFT drops for Topps (with more planned), Capcom, and others; but the business is now in rare company with this week’s upcoming launch of the Mattel Hot Wheels NFT Garage line which completes the trifecta WAX began with successful partnerships with Funko and Hasbro earlier this year. “As we innovate within the NFT space, WAX ...

The United States Securities and Exchange Commission (SEC) has introduced an action against Terraform Labs, the company behind the design of the Terra blockchain, and its co-founder and CEO Do Kwon. The SEC is seeking an order for Kwon to comply with a series of subpoenas he has failed to address. The investigative subpoenas seek Kwon’s testimony and the production of documents from Terraform Labs SEC Acts Against Terraform Labs and Do Kwon The United States Securities and Exchange Commission (SEC) has taken the next step in its battle against Terraform Labs, the company behind Terra, and its co-founder and CEO Do Kwon. According to a litigation release, the SEC has filed an order that seeks to compel the company to comply with a series of subpoenas the SEC delivered to Kwon, which he has failed to address. According to the document, these subpoenas include petitions for Kwon’s testimony and also the production of documents from Terraform Labs. These actions are part of an investi...

This year, the Sky Mavis-crafted blockchain game Axie Infinity has seen incredible growth and has recently surpassed $3 billion in all-time sales. However, researchers at Naavik explain in a recent study that Axie Infinity players called ‘scholars’ are seeing daily earnings drop, and many have seen earnings dip below the minimum wage line of countries like the Philippines. Naavik Researchers Take a Deep Dive Into Axie Infinity — ‘Scholar’ Earnings Have Been Dropping Since August The Ethereum-based blockchain game Axie Infinity is one of the most popular video games hosted on a distributed ledger network. The game was developed by a studio called Sky Mavis , and as of this week metrics from dappradar.com indicate the game has seen $3.23 billion in all-time non-fungible token (NFT) sales. Sky Mavis launched the game in 2018 and the company is headquartered in Ho Chi Minh City, Vietnam. Bitcoin.com News has covered the project on various occasions and just recently Sky Mavis revealed...

In development since 2018, Integritee AG’s solution enables sensitive business or personal data to be securely handled in an interoperable blockchain ecosystem. Using a hybrid of blockchain technology and hardware-enabled trusted execution environments, it enables businesses to securely process sensitive data, aiding compliance with privacy laws like GDPR. Alain Brenzikofer is the CTO and Co-founder of Integritee Network . He recently joined the Bitcoin.com News Podcast to talk about the technology and the business: Project initiator and Head of Decentralized Systems at Supercomputing Systems AG. MSc from ETH Zurich. Brings vast experience designing and delivering high quality IT and blockchain client-projects. Alain has been involved and active as a thought leader in the blockchain space since 2013. To name a few of his accomplishments, he has actively contributed to Quartierstrom peer-to-peer energy markets as well as the driving force behind Encointer, a crypto-based univers...

Skybridge Capital’s founder says bitcoin “will easily trade at $500,000 a coin,” noting that investors should buy some right now, even at the current price. “I’m trying to do my best to explain to them why they need to own this right now,” he said, emphasizing that we are still “very, very early.” ‘These Coins Will Easily Trade at $500K a Coin’ Anthony Scaramucci, the founder and managing partner of New York City-based investment firm Skybridge Capital, commented on the U.S. economy, inflation, and bitcoin on CNBC Friday. Scaramucci briefly served as the White House director of communications during the Trump administration in July 2017. He was asked whether he advises people to buy bitcoin at the current price of around $64,000. Scaramucci promptly replied, “no question about that.” At the current BTC price level, he said, “I still believe we are very, very early.” He noted that if Ark Invest CEO Cathie Wood is correct and there are “a billion wallets at the end of 2024 into the...

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has some advice on how to get into bitcoin or other cryptocurrencies. “It’s a wonderful universe. It’s a fantastic asset. It’s a must-own if you’re an investor,” O’Leary said. He also revealed that his crypto exposure has grown to about 10%. Kevin O’Leary Has Some Advice for New Crypto Investors Shark Tank star Kevin O’Leary, chairman of O’Shares ETFs, gave some advice for new investors wanting to get into bitcoin or the crypto space for the first time during an interview with Bitcoin Magazine, published early this month. O’Leary was asked, “Do you have any advice for people curious about bitcoin or just getting into the space?” He replied: I really advise them to explore this asset and the way to do it is to start small, start to understand the platforms. Are you going to buy it through a centralized wallet? Are you going to decentralize? Try all the options, learn by experience. He added: “The thing about bitcoin is you need ...

Crypto exchange Coinbase has been meeting with a number of regulators to convince them that the U.S. should have just one federal regulator overseeing the crypto sector. Currently, there is a variety of different regulators in the U.S., CEO Brian Armstrong explained, noting that Coinbase has “53 regulators in just one country, the United States.” Coinbase Wants One Regulator in the US The Nasdaq-listed cryptocurrency exchange Coinbase is pushing for the U.S. to have just one crypto regulator. “We’ve met with a number of different regulators out there … on a regular basis … I had a meeting last week with the chairman of the SEC, Chair [Gary] Gensler, which I think was very productive,” Coinbase CEO Brian Armstrong said during the company’s Q3 earnings call last week. “There’s a variety of different regulators in the United States … There’s the CFTC [Commodity Futures Trading Commission], the SEC [Securities and Exchange Commission], the Treasury. And then, of course, we have state ...

A government official in Rivne region of Ukraine owns close to $8 million in cryptocurrency and 500 Tesla shares, his declaration shows. The news comes as another Ukrainian lawmaker in Kyiv has found it hard to prove possession of the crypto holdings on her asset statement. Ukraine Officials Declare Crypto Assets, Fail to Provide Proof of Ownership Crypto investments have enjoyed a growing popularity among Ukrainian politicians in recent years, mandatory asset statements have revealed. According to recent media reports , a member of the Virovsky Village Council in the western Rivne Oblast has declared having 124 BTC worth almost $8 million in today’s prices. Vladimir Pachesny acquired the coins in early 2013 for 73,920 hryvnia at the time of purchase, a little over $2,800, using the latest exchange rate of the inflated Ukrainian fiat currency. In 2019, the 36-year-old local deputy also bought 500 shares of the U.S. electric vehicle company Tesla which pushed crypto prices up this...

After becoming one of the top non-fungible token (NFT) marketplaces, the Tezos-based NFT market Hic et nunc has discontinued its services. After more than $50 million in all-time sales on the market, Hic et nunc’s creator has not disclosed why the NFT marketplace was shut down. Tezos-Based NFT Marketplace Shuts Down A popular non-fungible token (NFT) marketplace that leveraged the Tezos network has closed down its business and has not explained why. The now-defunct NFT market is called Hic et nunc and it was one of the top twenty NFT markets in terms of all-time sales. At the time before its closure, dappradar.com metrics show Hic et nunc was the 14th largest NFT marketplace in terms of all-time sales. Has anyone deciphered wtf happened here? https://t.co/1xOhZOjV2r — 2kew (@2kew4u) November 12, 2021 At press time, the Hic et nunc front end is not operating and it gives a server error explaining that the server cannot be found. Although, other affiliated links like hen101.x...