Bitcoin News and Finance: What You Need to Know

Changes to the rules governing activities of crypto exchanges in Uzbekistan now allow residents to trade coins on licensed platforms. Uzbekistanis could previously only sell their digital assets. The new provisions also regulate the issuance of tokens and their listing. Uzbekistan Loosens Restrictions on Domestic Crypto Trading Uzbekistanis will be able to trade digital currencies on the country’s licensed crypto exchanges. This has become possible after the National Agency for Project Management (NAPM) under President Shavkat Mirziyoyev recently amended the rules pertaining to local cryptocurrency trade. According to the new regulations, residents of Uzbekistan can buy, sell, and exchange crypto assets domestically for their national currency, Forklog reported, quoting a decree issued by the agency’s director. Non-residents are allowed to exchange cryptocurrencies for foreign fiat as well. Uzbekistan legalized crypto trading in 2018 but in late 2019 the government banned local...

Ever since the Indian government listed a cryptocurrency bill to be taken up in parliament during the upcoming session that starts next week, much debate has transpired about whether the government will ban cryptocurrencies, such as bitcoin and ether. Crypto Regulation Is Coming but There Are Conflicting Accounts About What Is In It Indian crypto legislation is drawing near. The Indian government has listed a cryptocurrency bill to be taken up in Lok Sabha, the lower house of India’s parliament, for the winter session which starts on Monday, Nov. 29. The bill titled “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021” seeks to “prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.” Much debate has transpired about whether the Indian government will ban cryptocurrencies such as bitcoin ( BTC ) and ether ( ETH ). The crypto bill itself has not been made pu...

Mexico’s third-richest billionaire, Ricardo Salinas Pliego, has advised investors to “buy bitcoin right now.” He explained that the U.S. is “looking more and more like any other irresponsible third world country.” Ricardo Salinas Pliego on US Economy and Bitcoin Mexican billionaire Ricardo Salinas Pliego commented on the U.S. economy and bitcoin Wednesday. He is the founder and chairman of Grupo Salinas, a group of companies with interests in telecommunications, media, financial services, and retail stores. According to Forbes’ list of billionaires, his net worth is currently $14.2 billion. Salinas tweeted a weekly chart of the total value of the Federal Reserve’s assets (less eliminations from consolidation), which was updated on Nov. 18. It shows total assets of more than 8.67 trillion dollars. The billionaire tweeted: Good old USA is looking more and more like any other irresponsible third world country…wow…look at the scale of fake money creation. Buy bitcoin right now. The...

The CEO of global investment bank JPMorgan has warned investors about investing in cryptocurrency. “Cryptocurrency has no intrinsic value. You are basically buying a token,” he said. “I would be very careful.” JPMorgan Boss Jamie Dimon Warns About Investing in Crypto JPMorgan Chase and Co’s (JPM.N) chief executive officer, Jamie Dimon, shared his thoughts on the U.S. economy, inflation, China, and cryptocurrency in an interview with CBS Boston, published Wednesday. He was asked whether young people should invest in crypto in reference to several commercials encouraging investors to put money in cryptocurrencies, such as a commercial featuring Tom Brady and his wife Gisele Bundchen. “I’m a skeptic,” Dimon replied. “I mean blockchain is real if we use it for certain things. Parts of defi (decentralized finance) are real.” However, the JPMorgan boss emphasized: Cryptocurrency has no intrinsic value. You are basically buying a token. Why it has a lot of that I don’t know, and I thi...

U.S. Senator Sherrod Brown has sent letters to cryptocurrency exchanges and stablecoin issuers, including Coinbase, Gemini, Binance, and Tether, asking how they are protecting consumers and investors. “I have significant concerns with the non-standardized terms applicable to redemption of particular stablecoins,” the senator said. US Senator Raises Concerns Regarding Stablecoins U.S. Senator Sherrod Brown (D-Ohio), chair of the U.S. Senate Committee on Banking, Housing, and Urban, announced Tuesday that he has sent letters to a number of crypto exchanges and stablecoin issuers. Among the recipients of his letters are Coinbase, Gemini, Paxos, Trusttoken, Binance.us, Centre, and Tether. The senator asked these crypto companies how they “are protecting consumers and investors amid the risks highlighted in the recent report by the President’s Working Group on Financial Markets.” The announcement adds: “Senator Brown emphasized the difficulties consumers and investors may face in unde...

PRESS RELEASE . Manchester, UK, 25 November 2021: GAIMIN releases platform to create a global data processing network with “supercomputer” performance UK and Swiss based gaming and blockchain company, GAIMIN ․ IO Ltd releases a PC-based platform to create a global, decentralised data processing network with “supercomputer” level performance and also announces Nicky Butt, ex-Manchester United, Newcastle and England Team Player as Company Ambassador. A new UK-based technology platform designed to boost the world’s processing power using high-end gaming PCs has opened its platform to users. GAIMIN utilises the unused processing power available from the GPUs of high-end gaming PCs to boost global processing power virtually, effectively creating a huge global supercomputer. GAIMIN’s platform harnesses the “spare” processing capacity from gaming PCs creating a virtual source of interconnected, networked, data processing power that businesses and institutions can tap into. GAIMIN curren...

Following the non-fungible token (NFT) platform supporting Flow-based NFT collectibles, NFT marketplace Rarible has launched a direct messaging feature that gives creators the ability to connect with fans via the user’s wallet address. Rarible Reveals Messenger Tool via Internal NFT Marketplace, Standalone Rarible Messenger to Follow The NFT marketplace Rarible is the seventh-largest NFT platform in terms of all-time sales with $273.06 million in sales to date. Statistics from dappradar.com indicate that Rarible has roughly 86,489 traders using the marketplace. Rarible is an Ethereum ( ETH )-based NFT market but during the second week of November 2021, the platform revealed that users can now create, list, and trade Flow blockchain-based NFT collectibles on the Rarible platform. The NFT marketplace announced the launch of the Rarible Messenger feature on November 23 and the firm explains that it aims to connect NFT creators with the community. At the time of writing, Rarible Me...

On Tuesday, November 23, the closing arguments for both sides of the Kleiman v. Wright trial finished and now ten jurors will decide the fate of the billion-dollar bitcoin lawsuit. While Craig Wright claims he’s Satoshi Nakamoto, he also insists the now-deceased Dave Kleiman did not help with the creation of Bitcoin. The plaintiffs are hoping to win an incredibly large sum of money and intellectual property (IP) estimated to be worth billions of dollars. Kleiman v. Wright Trial Nears the End The infamous Kleiman v. Wright trial is nearing its end and the cryptocurrency community is about to witness the long-awaited decision stemming from a jury in Miami, Florida. The plaintiffs’ attorney representing the Kleiman estate, Vel Freedman, tweeted about the case when the closing arguments were finished and the jury left to make a decision. “Kleiman v Wright update: Case submitted to the jury. Closings done. Now we wait,” Freedman explained on Tuesday afternoon (EST). Freedman further t...

During the last week, the price of bitcoin has been hovering below the $60K range and digital currency advocates are wondering which way the market is headed next. At the time of writing, the crypto economy is valued at $2.81 trillion and bitcoin’s market dominance has sunk below the 40% region for several days now. Bitcoin Dominance Slips to 39.7%, While Ethereum Dominance Commands 19% The price of bitcoin (BTC) reached $69K on November 10, and six days later on the 16th, the price fell below the $60K zone and hasn’t returned above that region since then. Today, according to crypto coin market aggregators there are around 11,117 coins being traded on 525 cryptocurrency exchanges. The value of all more than 11K crypto coins in existence is around $2.81 trillion and it increased in value 3.9% over the last 24 hours. Bitcoin (BTC) has an overall market capitalization of around $1.1 trillion and on Thursday, November 25, BTC dominance is 39.7%. BTC ’s dominance has not been this lo...

PRESS RELEASE. INTERNET CITY, DUBAI, Nov. 25, 2021 – LBank Exchange, a global digital asset trading platform, will list Dexioprotocol (DEXI) token on November 27, 2021. For all users of LBank Exchange, the DEXI/ USDT trading pair will be officially available for trading at 23:00 (UTC+8) on November 27, 2021. Crypto investment has gone viral in recent years, but compared with the global population, crypto investors are still a small community. Dexioprotocol is a project that aims to engage vastly more people in activities that encourage them to learn about cryptocurrencies. Its DEXI token will be listed on LBank Exchange at 23:00 (UTC+8) on November 27, 2021, to further expand its global reach and help it achieve its vision. Introducing Dexioprotocol Dexioprotocol’s vision is a world in which blockchain technology is mainstream and infinitely more people are connected by it. The team will advance this ambition by becoming the industry standard in Augmented Reality (AR) app develop...

Karl Sebastian Greenwood, one of the masterminds behind the Onecoin pyramid scheme, recently used a contraband mobile phone to move at least $20 million while holed up in a prison in the United States, an attorney for one of the scheme’s victims has said. Onecoin Mastermind Taking Advantage of Regulators’ Failures The lawyer representing victims of the Onecoin scam, Jonathan Levy, has alleged that the pyramid scheme’s jailed co-mastermind, Karl Sebastian Greenwood, recently moved at least $20 million which he insists was stolen from investors. In a statement released on November 24, 2021, Levy explains how Greenwood, who is currently detained at Manhattan Metropolitan Correctional Center, was able to pull off the transfer. He said Greenwood had been aided by a network of lawyers and a contraband cellphone. The lawyer also said the failure of the SEC and other regulators to confiscate assets and the 230,000 bitcoins stolen from Onecoin is aiding Greenwood’s cause while making it ...

China’s crackdown on its crypto mining sector, launched earlier this year, caused a massive migration of mining enterprises to friendlier jurisdictions. Miners have been moving enormous amount of coin minting hardware to new bases around the world, with Russia reportedly taking the largest share among several attractive destinations, including the U.S. Russia, Kazakhstan, US Accept Most Chinese Mining Rigs The influx of Chinese miners in several countries which either provide certain regulatory clarity or offer cheap energy has been accompanied by a large transfer of mining equipment. Data compiled by the Financial Times shows that 14 of the world’s biggest crypto mining businesses have evacuated more than 2 million mining machines out of the People’s Republic after the government in Beijing launched a nation-wide crackdown on the industry in May. North America and Central Asia have turned into mining hotspots, but it’s Russia that has taken the top spot. The report reveals that a...

Mercadolibre, one of the biggest online retailers in Latin America, has started rolling cryptocurrency trading services to a selection of their customers and plans to expand this test in the coming weeks. Mercadopago, the payments service native to the platform, will allow these customers to purchase, hold and sell cryptocurrencies directly from the platform. The pilot run will start in Brasil and it might extend to other countries later. Mercadolibre Forays Into Crypto Services Mercadolibre, the biggest Latam-based company, has started including cryptocurrency services in its platform. Now, users of Mercadopago will be able to purchase, sell and hold cryptocurrencies using Mercadolibre’s platform. This is a logical step for the company, that acts as an intermediate between companies offering products and services in the platform and customers consuming these. The test run of the service was rolled out quietly earlier this month to some customers in Brazil, and it is expected to k...

EY, one of the big four consulting and auditing firms in the world, found that one in four hedge funds are expecting to increase their crypto exposure for the next year. The 2021 EY Global Alternative Fund Survey describes that alternative fund managers are slowly taking a stable place in the portfolios of investors, with digital assets being present, albeit in a small way. EY Survey Finds Hedge Funds Hungry of Crypto Exposure The 2021 Global Alternative Fund Survey, a survey compiled by EY, one of the big four companies , shows the performance and popularity of alternative fund managers among investors during the year. The survey has found that hedge funds are one of the most open platforms to include crypto assets in their structures. According to the survey, one in four hedge funds is studying to increase their exposure to cryptocurrencies in the next year. Due to the coronavirus pandemic, investors had to go through an interesting year with many challenges, and navigating thro...

PRESS RELEASE. MetaWars is the first project to unite the world of metaverses – with the first of its kind MetaWars Launchpad portal. For the first time, players will be able to build portals that transfer characters, currencies, and assets between game worlds. This builds on Meta (previously known as Facebook) and enhances their vision. With the MetaWars Launchpad, players can mine for different cryptocurrencies from different multiverses, injecting additional play-to-earn features. It’s positioned to become the main way new people enter into the blockchain economy, and the best way to break into the mainstream. This is an enormous opportunity in this space. MetaWars will become the first metaverse launchpad, filling a highly important role. By aligning with new projects in the future, MetaWars will lead the way for the GameFi movement and provide more value to the blockchain gaming community and entire industry. Introducing MetaWars MetaWars completed a successful IDO and the t...

Despite largely lagging behind the rest of the world on many other metrics, Africa however appears to have taken the lead where cryptocurrency or the blockchain is concerned. Africa-Based Kucoin Users Skyrocket in 2021 In African countries that are plagued by currency woes or hyperinflation, cryptocurrencies have emerged as a genuine alternative store of value. The same digital currencies are also increasingly becoming the preferred means of sending remittances or for making cross-border payments. In other words, cryptocurrencies have real uses in Africa besides trading. However, as Johny Lyu, the CEO of Kucoin — one of the biggest crypto exchanges in the world — observes, many African cryptocurrency users or holders are starting to become more interested in the trading side of things. In fact, in his written responses to questions that were sent to him via Linkedin, Lyu reveals that more African users are venturing into futures or margin trading. The CEO also explains how his org...

Tesla and Spacex CEO Elon Musk has raised concerns with cryptocurrency exchange Binance about its dogecoin issue. Musk calls the situation “shady,” adding that “DOGE holders using Binance should be protected from errors that are not their fault.” Both Binance CEO Changpeng Zhao and the official Twitter account for the crypto exchange responded. Elon Musk Raises Issue on Behalf of Other Dogecoin Holders Tesla CEO Elon Musk has raised concerns on behalf of dogecoin holders regarding the recent DOGE problem at cryptocurrency exchange Binance. The issue resulted in numerous erroneous dogecoin transactions with some users reporting that their accounts were frozen. Musk, who is sometimes known as the Dogefather, asked Binance CEO Changpeng Zhao (CZ), “What’s going on with your Doge customers?” He added, “Sounds shady.” His tweet gained much attention. At the time of writing, it has received 4.5K comments and liked 24.1K times. Both Zhao and the official Twitter account for Binance repl...

Former presidential candidate Hillary Clinton has called on the Biden administration to regulate the cryptocurrency markets. She warned that countries like Russia or China, as well as nonstate actors, could manipulate all kinds of technology to their advantage and destabilize countries as well as the dollar as the world’s reserve currency. Hillary Clinton Stresses the Importance of Crypto Regulation Hillary Clinton, former Democratic presidential candidate, talked about cryptocurrency Tuesday in an interview with MSNBC. She elaborated on her crypto statement last week and warned that the technology may be manipulated by countries like China and Russia to undermine the United States. She stressed “the need to regulate the cryptocurrency markets,” noting that “it’s on the horizon that people are only beginning to pay attention to.” “Imagine the combination of social media, the algorithms that drive social media, the amassing of even larger sums of money through the control of certai...

The monetary authority in Moscow, the Bank of Russia, wants those who use cryptocurrencies against the law to be held accountable. The financial regulator has proposed the introduction of legal liability for some operations with digital assets which it considers illegal. Central Bank of Russia Aims to Prevent Circulation of Decentralized Currencies Cryptocurrencies in the Russian Federation, as well as related activities, remain only partially regulated, mainly through the law “On Digital Financial Assets,” which went into force at the beginning of this year. One of the aspects that is still unclear is whether digital coins can be used to pay for goods and services. The Central Bank of Russia ( CBR ) has remained consistently opposed to allowing payments with bitcoin and the like. The authority claims these are all “ money surrogates ” that are banned under current Russian legislation which recognizes the ruble as the only legal tender in the country that spans 11 time zones. Th...

PRESS RELEASE. Recently, on the 23rd of November, SpaceSeven launched its state-of-the-art NFT marketplace. The SpaceSeven marketplace is the first of its kind — one of the few — if not the only scaled e-commerce, fully regulatory compliant platform. By combining powerful NFT marketplace technology from Tacans , a Swiss-based Software development house, and Venture Builder, with an R&D center in Ukraine and the vanguard Concordium blockchain platform, SpaceSeven achieved a world-class NFT Marketplace that is expected to fundamentally transform artists’ exposure and recognition. With the Concordium blockchain platform, SpaceSeven is able to offer significantly lower gas fees — literally a fraction of the cost of Ethereum or other proof-of-work protocols — and at the same time facilitate transaction speeds that are ten times faster. Packed with several game-changing features like ‘Universes’ that deliver unique experiences through exclusive customized galleries, SpaceSeven is ...

A play-to-earn (P2E) blockchain gaming guild has raised $18 million in a Series A financing round according to an announcement on Wednesday. Avocado Guild detailed that the firm raised the funds from investors such as Animoca Brands, Goldentree Asset Management, Three Arrows Capital, and Solana Ventures. P2E Organization Avocado Guild Raises $18 Million From Strategic Investors According to an announcement from Avocado Guild on Wednesday, the organization raised $18 million from strategic investors. The capital raise stemmed from the firm’s Series A funding round which gave Avocado Guild an overall valuation of around $200 million. Avocado Guild's Series A Fundraise has officially closed in at $18 Million co lead by @animocabrands @kyled116 @hashed_official #QCP Soteria Thank you to our investors, and most importantly our fellow Avocadians. Time to build the future of P2E. #avocadodao pic.twitter.com/mdAH9MzpHZ — Avocado Guild 🥑 (@Avocadoguild) November 24, 2021 ...

111 days ago, the Ethereum network implemented the London hard fork upgrade which added a mechanism (EIP-1559) that changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary. Since then 1 million ether has been burned or the equivalent of around $3.8 billion worth of ethereum using today’s exchange rates. Over a Million Ether or $3.8 Billion Burned to Date The second-largest crypto asset in terms of market capitalization, ethereum ( ETH ) has an overall valuation today just above $500 billion. Ethereum’s market capitalization represents 18.8% of the $2.7 trillion crypto economy. Three months ago, on August 5, 2021, the Ethereum blockchain upgraded and added various features to the consensus rules. The most transformative included EIP-1559 and EIP-3554 , and EIP-1559 in particular created a new fee rate scheme that allows the network to burn a portion of ether. EIP-1559’s summary hosted on Github states: There is a base fee per gas in protocol, wh...