Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. The gaming business is undergoing a revolution thanks to the advent of blockchain technology. Because of this, it’s giving developers a new way to engage the audience with capabilities that were previously unavailable. The Play-To-Earn (P2E) concept, in which gamers’ are rewarded for their time with tokens that can be exchanged for real money, is already commonplace in the gaming world. In this industry, the GameFi model represents a huge shift from the past, when in-game assets were restricted to centralized protocols and players were prohibited from trading their digital assets outside of the platform. But in recent years, the P2E business model has gained enormous popularity, particularly in developing countries where local employment and opportunities are limited, but also where the vast majority of people have access to basic electronic gadgets and the internet. MetaGods is one of the projects that is enhancing the Play-To-Earn model. It is the world’s first 8-b...

The non-fungible token (NFT) project the Origyn Foundation announced on Tuesday the team received a strategic investment of $20 million from a myriad of investors. Hilton hotel heiress Paris Hilton participated in the funding round alongside firms like Polychain Capital and Table Management. Origyn Foundation Secures $20 Million NFT marketplaces and web platforms have seen a lot of investments over the last year as venture capitalists and venture financing companies have poured millions into these projects. On November 23, the Switzerland-based non-profit NFT project Origyn Foundation revealed it has secured $20 million from strategic investors. According to the announcement, after the financing Origyn Foundation has a valuation of around $300 million. The private funding round was financed by Bill Ackman’s Table Management, Polychain Capital, Coinko, Vectr Ventures, Carter Reum, Div Turakhia, and GD10 Ventures. Additionally, the popular socialite and entrepreneur, Paris Hilton, a...

The chairman of Australia’s Securities and Investments Commission (ASIC) says crypto is “being driven by extraordinary consumer and investor demand,” noting that “The implications for consumers are potentially huge.” The securities regulator is currently working with lawmakers to develop rules for cryptocurrencies. Regulator Sees ‘Extraordinary Consumer and Investor Demand’ for Crypto Australian Securities and Investments Commission (ASIC) Chair Joe Longo talked about cryptocurrency at the Australian Financial Review’s Super & Wealth Summit Monday. “Consumers should approach investing in crypto with great caution,” he said, emphasizing its lack of investor protection. However, Longo opined: Crypto is on our doorstep, here and now, and being driven by extraordinary consumer and investor demand. The implications for consumers are potentially huge. While noting that the securities regulator is working with lawmakers to develop rules for cryptocurrencies, he stressed that many ...

Ripple CEO Brad Garlinghouse says that he expects the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC) to come to a conclusion next year. The executive explained: “We’re seeing pretty good progress despite a slow-moving judicial process.” Ripple’s CEO Is Hopeful the SEC’s Lawsuit Over XRP Will Conclude Next Year Ripple CEO Brad Garlinghouse discussed the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC) in an interview with CNBC Monday. Garlinghouse said he expects the lawsuit to reach a conclusion next year, elaborating: We’re seeing pretty good progress despite a slow-moving judicial process. “Clearly we’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple. This will have broader implications,” the Ripple executive added. The SEC sued Ripple, Garlinghouse, and co-founder Christian Larsen in December last year, alleging that they sold $1.3 billion worth of the XRP tokens in an un...

U.S. football Star Odell Beckham Jr. is taking his new salary in bitcoin and is giving away $1 million in the cryptocurrency in partnership with Square’s Cash App. “To all my fans out there … I’m giving back a total of $1M in BTC right now,” he wrote. Football Star Odell Beckham Jr. Will Take His New Salary in Bitcoin and Is Giving Away $1 Million in the Crypto Odell Beckham Jr., also known as OBJ, announced via Twitter Monday that he is taking his new salary in bitcoin via Square’s Cash App. He also told his 4.1 million Twitter followers that he is giving away $1 million in bitcoin. OBJ is an American football wide receiver for the American National Football League (NFL)’s Los Angeles Rams. He signed a one-year deal with the Rams two weeks ago after the Cleveland Browns released him. According to reports, his contract comes with a base salary of $750,000 and a $500,000 signing bonus, with another $3 million available to earn in the form of team-based incentives. At the time of...

Nowadays, there are so many different viable ways of earning money through the usage of cryptocurrencies. In the past, many traders would have preferred to simply hold on to their coins or ‘hold’ for as long as possible in order to get substantial returns on their investments. However, as time went on, new methods such as mining, staking, farming, and more emerged through which many are now earning much more comparative to their previous amounts. What is the DeFi Yield Protocol? The DeFi Yield Protocol (DYP) is a one-of-a-kind platform which provides solutions pertaining to staking, yield farming, and also non-fungible tokens (NFTs). It allows users to successfully leverage DYP’s sophisticated trading capabilities and tools in a seamless fashion. Simply put, DYP enables its users to provide liquidity as well as be rewarded for their efforts. The rewards can come via ETH , for instance. Concurrently, the platform is also working towards maintaining its token price stability in addit...

The founder of Africa-focused media and investment company Footprint to Africa, Osita Oparaugo, has urged governments on the continent to embrace cryptocurrency. Africa Must Not Be Left Behind Osita Oparaugo, founder of Footprint to Africa, has argued that a timely embrace of cryptocurrencies by African governments would be beneficial to the continent’s growth prospects. In his remarks published by the Vanguard, Oparaugo, who was co-host of a Decentralized Finance (defi) event in Nigeria, suggested that African countries cannot afford to lag behind when it comes to crypto. After noting the impact of cryptocurrencies and blockchain on global finance, Oparaugo explained why African governments must get on board quickly. He said: Cryptocurrency and digital money will eventually unite the world and the earlier African governments embrace it, the better for the continent’s growth. Africa can’t afford to play catch-up on blockchain technology; it’s the future. To back up his predict...

Non-fungible token (NFT) sales have dropped considerably during the last month as cryptocurrency values have seen significant losses in recent times. NFT sales saw a quick spike when a number of crypto assets neared all-time price highs in mid-November, but sales quickly plummeted back down following the crypto market downturn. A Number of NFT Sales Slide Following Crypto Market Downturn Throughout the year, NFTs have seen massive demand and markets have processed billions of dollars in sales. In the midst of the all-time highs bitcoin , ethereum , and numerous other crypto assets saw in mid-November, NFT sales regained momentum after a downward slump in sales since October 24. The spike in NFT sales took place on November 15 and lasted only 24 hours. Since the end of October, the number of NFT sales dropped 28.79% according to market metrics from nonfungible.com. Despite the number of NFT sales sliding, the U.S. dollar value of sales stemming from October 24 until today is not s...

The International Monetary Fund (IMF) has warned El Salvador against using bitcoin as legal tender due to various risks associated with cryptocurrency. The warning came one day after Salvadoran President Nayib Bukele announced his plan to build a “bitcoin city” powered by a volcano and financed by bitcoin bonds. IMF Says El Salvador Shouldn’t Use Bitcoin as Legal Tender The International Monetary Fund (IMF) warned El Salvador on Monday that the country should not use bitcoin as legal tender, citing various risks associated with the cryptocurrency. El Salvador is the first country in the world to adopt bitcoin as legal tender alongside the U.S. dollar which it has used for two decades. The country’s bitcoin law went into effect in September. Furthermore, El Salvador has purchased 1,120 BTC , according to Salvadoran President Nayib Bukele. The IMF regularly undertakes Article IV missions to member countries to consult with government officials before they request to use its resour...

The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electronic payments, including services related to crypto assets. The new set of rules will complement upcoming EU regulations for cryptocurrencies and stablecoins. ECB Aims for Secure and Efficient Digital Payments Through Improved Oversight Following public consultations on the matter, the Governing Council of the European Central Bank (ECB) has approved a new oversight framework for electronic payments. The document has been published by the Eurosystem, which consists of the ECB and the national central banks of the EU member states that have adopted the common European currency, the euro. According to an announcement by the ECB, the single framework replaces other regulations within the Eurosystem’s existing oversight regime for payment instruments and complements its oversight mechanisms for payment systems. The bank noted that the framework has been designed to “make the cur...

PRESS RELEASE. Dvision has recently announced that it will be conducting the LAND sale for its digital estate that will be used in the Dvision Metaverse through tripartite cooperation with Binance NFT and NFTb, allowing its users to participate in the sale on three platforms with different sale structures. Dvision has revealed, that it will be offering 1,452 NFT Mystery Boxes through Binance NFT exclusively for Binance.com users. As the name suggests itself, the mystery box contains a random LAND NFT from the total LAND collection offered by Dvision. The users will be able to purchase the Mystery Box under a specified price with a probability to drop a common 1×1 LAND Lot or even a legendary 3×3 LAND Lot NFT. Furthermore, 1,495 LAND Boxes shall also be offered through an Initial NFT Offering (INO) on NFTb, where users can participate in highly sought after NFT drops by Metaverse projects such as Dvision and other NFT drops from celebrities and creators and games. It should be note...

The Blockchain Industry Coordinating Committee of Nigeria (BICCON), has said it is not lawful for Nigerian financial institutions to arbitrarily freeze or close bank accounts belonging to individuals or entities accused of trading cryptocurrency. Affected Crypto Entities Told to Seek Legal Advice In a public statement issued on November 22, BICCON — a coalition of Nigeria’s foremost cryptocurrency and blockchain advocacy groups — advises affected individuals and companies to seek legal advice and redress in courts where appropriate. The body also insists that no Nigerian organization, public or private, should be above the law. As previously reported by Bitcoin.com News, Nigerian financial institutions have been closing or freezing bank accounts of entities suspected of trading cryptocurrency since November 3. The institutions have claimed they are doing this in order to comply with the Central Bank of Nigeria (CBN) directive that was initially issued on February 5. However, des...

Moonpay, a cryptocurrency payments service provider, has raised $555 million during its first funding round. Led by Tiger Global Management, this series A funding round propelled the valuation of the company to $3.4 billion, which will be used for expansion endeavors. The fiat-to-crypto ramp that Moonpay provides is key to several hundred wallets and services for onboarding users with fiat currency. Moonpay Snags $3.4 Billion Valuation Moonpay, a startup that specializes in processing payments to purchase cryptocurrencies, has raised $555 million in its first financing round. The series A financing round was led by Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm, and NEA. With this round, the valuation of the company reached $3.4 billion. John Curtius, a partner at Tiger Global, stated: We spoke to many of the company’s customers during diligence who highlighted Moonpay’s compelling user experience and expressed conviction in ...

On Monday, the mining firm Griid Infrastructure announced the company has secured a $525 million credit facility from the crypto firm Blockchain.com. According to the announcement, the credit facility will be a four-year term in order to increase the company’s mining capacity. Bitcoin Mining Infrastructure Firm to Increase Capacity With Help From Blockchain.com Cryptocurrency mining, and more specifically bitcoin ( BTC ) mining, has seen millions of dollars invested during the course of the year. Enterprise operations have inked massive deals with bitcoin mining rig manufacturers like Canaan, Bitmain, and Microbt for thousands of ASIC devices. A few large bitcoin mining operators have also begun constructing new facilities in order to increase capacity. On November 22, Griid Infrastructure announced the company has secured a $525 million credit facility from the company Blockchain.com . The financing will be used to increase mining capacity as well as “capitalizing on over 1,300 m...

PRESS RELEASE. Chimeras is announcing a brand new collection of NFT-based characters for sale on INO platforms and its marketplace . November 23rd, 2021, Kyiv, Ukraine – Play-to-Earn gaming metaverse Chimeras is launching a brand new collection of NFTs based on in-game characters. There are two types of characters in Chimeras’ in-game world – Chimeras and the Chosen ones. The new NFTs feature 20 of The Chosen characters, with a further 268 variations and different levels of stardom, resulting in 5360 new NFT characters in total who will be used and can be upgraded in the game. The Chosen are unique creatures that a Player can use for battles. A Player can get a Chosen by performing a ritual with a Magical Stone. There is no limit on the looks and skills of the Chosen: they look like people, demons, dragons. Every Chosen can be turned into NFT and sold so that a Player can earn with it too. A Player can upgrade the level of the Chosen by experience and unique sources earned in the...

The Nigerian startup behind the social payment app for cryptocurrency and fiat, Kurepay, says the Central Bank of Nigeria (CBN)’s current crackdown on crypto entities has forced it to suspend operations in Nigeria. ‘Horrible’ Year for Crypto Adoption According to a report by the Cryptoassetbuyer, this suspension of operations is set to commence at the start of the first quarter of 2022. At that time, Kurepay, whose app harnesses blockchain technology, will begin to restrict its business to over-the-counter (OTC) and crypto consulting services. Commenting on the startup’s plan to quit the West African country, Kurepay CEO Abikure Tega is quoted lamenting what he calls a horrible year for cryptocurrency adoption and expansion in Nigeria. He said: This year has been quite horrible for cryptocurrency adoption and expansion in Nigeria as CBN continues to take drastic measures to slow down and frustrate Nigeria’s growing ability to participate in what has been the fastest-growing emer...

Australian Senator Jane Hume says we need to acknowledge that cryptocurrency is not a fad, adding that there are huge opportunities in decentralized finance (defi). “We should tread cautiously, but not fearfully,” she said, emphasizing that “Australia mustn’t be left behind by fear of the unknown.” Australian Senator Says Crypto Is Not Going Away, Sees ‘Incredible’ Opportunities in Defi Australian Senator Jane Hume talked about cryptocurrency and decentralized finance (defi) Monday during her speech at the Australian Financial Review Super & Wealth Summit in Sydney. Hume is Australia’s minister for superannuation, financial services, and the digital economy. She is also the country’s minister for women’s economic security. Referencing a recent Australian Senate Committee report that claims 17% of Australians are investing in cryptocurrency, Hume stressed: “This is an asset class that has captured hearts and minds, but beyond that — whatever you might personally think — it’s a ...

Citigroup is reportedly looking to hire 100 people for its new crypto team. “We believe in the potential of blockchain and digital assets including the benefits of efficiency, instant processing, fractionalization, programmability, and transparency.” Citigroup Growing Its Crypto Team Citigroup is reportedly looking to hire 100 people to grow its digital asset team within its institutional business, Bloomberg reported on Monday, citing a person familiar with the matter. Puneet Singhvi will be the firm’s new head of digital assets within Citi’s institutional client group, according to a memo to staff seen by Bloomberg News. Singhvi was previously head of blockchain and digital assets within Citi’s trading business. In his new role, he will report to Emily Turner, who oversees business development for the broader group. Turner explained in the memo to staff: We believe in the potential of blockchain and digital assets including the benefits of efficiency, instant processing, fracti...

The Ethereum scaling wars are raging on social media due to the problems that this chain is facing, with fees on layer one (L1) at very high levels. Zhu Su, CEO of Three Arrows Capital, a notable crypto VC company, announced he withdrew his support from the project, criticizing the state in which the chain is now. Emin Gun Sirer, Founder and CEO of Ava Labs, the company behind Avalanche, stated that Avalanche will be able to scale regardless of its growth. Ethereum Facing Heat in Social Media The high fees that users have to pay to transact on Ethereum L1 are prompting supporters of the chain to be very vocal in social media about the problems these cause. Zhu Su, CEO of Three Arrows Capital, voiced his discomfort with the state of the Ethereum chain right now, and how its proponents have failed to scale its operation. On Twitter, Su stated : Yes I have abandoned Ethereum despite supporting it in the past. Yes Ethereum has abandoned its users despite supporting them in the past. E...

U.S. president Joe Biden revealed his intent on Monday to re-nominate Jerome Powell as the Federal Reserve chairperson. Major indices and stocks gained on the news that Powell will get a second term as the head of the central bank. Biden Chooses to Renominate Fed Chair Jerome Powell On Monday, president Joe Biden revealed that he has chosen Jerome Powell to lead the U.S. Federal Reserve for another term. Powell will serve as the chairperson during his second term, while Lael Brainard will serve as the Fed’s vice chair. Powell’s renomination follows the uncertainty surrounding who would take his seat. At the end of August, three Democrat representatives Alexandria Ocasio-Cortez (AOC), Rashida Tlaib, and Ayanna Pressley had urged Biden to choose a chairperson that would address social change and the so-called climate crisis. However, two weeks later sources with ties to Washington told the press that Biden would renominate Powell. Jerome Powell selected for a second term! Stonks...

While crypto-asset markets have shed billions during the last week, the top meme tokens coins by market capitalization have seen deeper losses than most coins. The top two meme digital assets dogecoin and shiba inu have seen double-digit losses during the last seven days. The top meme tokens coins by market capitalization today are worth $60.7 billion losing 3.5% in value over the last 24 hours. Dogecoin and Shiba Inu Lose Double-Digits Last Week During the course of the year, meme-based crypto assets were all the rage and many of them have gained significant value in 2021. The top two meme-based cryptocurrencies dogecoin (DOGE) and shiba inu (SHIB) were once top ten contenders in terms of market capitalization. However, today, after suffering some losses both dogecoin and shiba inu have dropped out of the top ten standings. Dogecoin (DOGE) is the largest meme-based crypto asset in terms of overall valuation. DOGE is also the 11th largest market cap out of 10,975 coins in existenc...

The U.S. and U.K. governments have “committed and agreed to heighten the focus on illicit use of cryptocurrency and ransomware,” the U.S. Department of Justice announced. According to the FBI, high crypto prices have partially made ransomware “incredibly lucrative for the criminals.” Governments Collaborate to Focus on Illicit Use of Crypto The U.S. Department of Justice (DOJ) announced Friday that Deputy Attorney General Lisa Monaco and officials from its National Security Division and Criminal Division met with U.K. Home Secretary Priti Patel in Washington, D.C., on Thursday. “In their meeting, both governments discussed their close cooperation against numerous threats to their countries’ collective security, including with respect to combating terrorism, cybercrime, and illicit finance,” the DOJ detailed, adding: Both the deputy attorney general and the home secretary committed and agreed to heighten the focus on illicit use of cryptocurrency and ransomware, as well as to cont...

The crypto asset economy has been down in value over the last week as a great number of digital currencies shed significant amounts. The entire crypto-economy is down under the $3 trillion mark, hovering around $2.7 trillion across 10,970 cryptocurrencies. Bitcoin dominance is just above the 40% region while ethereum’s market commands 18.4% of the crypto economy on Monday. Analyst Notes a Few Possible Factors May Have Contributed to the Market’s Slide Digital currency markets have seen better days and on Monday, November 22, 2021, bitcoin ( BTC ) is down 9.7% during the last seven days. At press time, a single bitcoin is exchanging hands for just above the $58K per unit zone and the asset has a market valuation of around $1.11 trillion. Ethereum ( ETH ) has lost 7.4% this past week and is currently swapping for under $4,300 per ether. The biggest loser out of the top ten market caps this week was polkadot (DOT) with a 12.3% loss. Solana (SOL) lost the least amount of value dropping ...

The Central Bank of Kenya (CBK) governor, Patrick Njoroge, has said his institution is currently exploring the use of central bank digital currencies (CBDC) to settle cross-border payments. Njoroge however insists the bank’s priority is getting it right rather than being the first. CBK’s Approach According to a report by the Kenyan Wallstreet, Njoroge — who made these remarks while attending a virtual Afro-Asia Fintech festival — argued that such a CBDC would enhance the efficiency of cross-border payments. The report nonetheless quotes Njoroge reiterating the CBK’s approach which is different from that of other central banks. He said: We see the benefits would be more cross border. The issue is not to be first, the issue is to do it right. These remarks by the CBK governor come a few weeks after the Central Bank of Nigeria (CBN) became the first country in Africa to launch a CBDC. Some three weeks after launch, the CBN reported that nearly 500,000 wallets had been downloaded ...