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‘Financial Inclusion’ — A Buzzword for Central Banks Who Secretly Despise Economic Freedom

The World Economic Forum (WEF) has released its latest report on “digital currency governance” this month, addressing stablecoins, cryptocurrencies, and “barriers to financial inclusion.” Like most central banks, regulators, think tanks, and politicians, the WEF publication gives lip service to the power of crypto, but never addresses the elephant in the room: instead of actual access to the utility cryptocurrencies already freely provide, the “unbanked” and impoverished individuals of the world are forced to use a co-opted, fiat 2.0. ‘Financial Inclusion’ and ‘Sensible Regulation’: Freedom for Me, Compliance for Thee According to the World Economic Forum’s November 2021 White Paper Series Report “What is the Value Proposition of Stablecoins for Financial Inclusion”: Financial inclusion is a complex global problem that existing systems and offerings have so far failed to solve. Financial inclusion is not really that complex, but existing systems most definitely are failu...

Paytm Founder: Crypto Is Here to Stay and Will Become Mainstream in 5 Years

The founder of Paytm, a major digital payment company in India, is “very positive about crypto.” Noting that cryptocurrency is here to stay, he expects it to become a mainstream technology in a few years. Paytm Founder Is ‘Very Positive About Crypto’ Vijay Shekhar Sharma, the founder of Paytm, said at a virtual conference organized by the Indian Chamber of Commerce (ICC) Thursday that cryptocurrency is here to stay, PTI reported. He added that crypto is Silicon Valley’s answer to Wall Street. Paytm is an Indian multinational technology company that specializes in digital payments. The company completed an initial public offering (IPO) last week. In its IPO filing, Paytm revealed that it has 337 million registered consumers and 22 million merchants. Sharma opined: I am very positive about crypto. It is fundamentally based on cryptography and will be the mainstream technology in a few years like the internet which is (now) part of daily life. The Paytm founder admitted that cry...

Binance CEO Says He and Warren Buffett Use Similar Investment Strategy but Doubts Buffett Has Skills to Keep Crypto Safe

The CEO of cryptocurrency exchange Binance says that he and Berkshire Hathaway CEO Warren Buffett share a similar investment strategy. However, he said he would not convince the Oracle of Omaha to invest in cryptocurrency. “I get worried if he uses crypto. He may not have the necessary skills or the knowledge on how to keep his own crypto safe,” the Binance CEO stressed. Binance’s CEO on Warren Buffett and Crypto Investing Binance CEO Changpeng Zhao (CZ) talked about Berkshire Hathaway CEO Warren Buffett and cryptocurrency investing on Yahoo Finance Wednesday. Zhao recently praised Buffett’s investing skills after reading a book about him titled “Warren Buffett: Inside the Ultimate Money Mind.” The book provides “a deep analysis of Buffett’s essential wisdom, an intricate mosaic of wide-ranging ideas and insights that Buffett calls a Money Mind,” according to its description. The Binance boss was asked if he were sitting in a room with Buffett, what he would tell the Oracle of Om...

Major Estonian Bank LHV Starts Offering Cryptocurrency Trading via Bitstamp

One of the largest banks in Estonia, LHV, is now offering cryptocurrency trading directly from its app through crypto exchange Bitstamp. The bank says it is the “first bank in the Baltics to start offering crypto trading.” Large Estonian Bank Now Offers Crypto Trading LHV announced this week that it has become “the first bank in Estonia to offer its clients the opportunity to trade in crypto assets.” Starting Monday, LHV customers can trade major crypto assets directly on its mobile app. Transactions are carried out on the cryptocurrency exchange Bitstamp. Clients’ crypto assets are held on the Bitgo platform, which is part of the Toronto Stock Exchange-listed Galaxy Digital Group. The bank started experimenting with blockchain technology in 2015. Since then, “We have been waiting for the regulatory environment to evolve, for the market to become organized, and for professional market players to emerge,” the bank noted. Madis Toomsalu, chairman of the management board of LHV Grou...

2021 Crypto Literacy Report Suggests 96% of Americans Fail to Comprehend Basic Crypto Knowledge

A recent study suggests that 99% of people from Mexico and Brazil and 96% of Americans fail to grasp the basic concepts of cryptocurrencies. Out of all the survey respondents aware of bitcoin, 17% in the U.S., 15% in Brazil, and 14% in Mexico own the crypto asset. The report published by cryptoliteracy.org further explains that 9 out of 10 survey respondents did not know that Bitcoin’s supply is capped off at 21 million. Despite the Bull Run in 2021, Study Shows Crypto Knowledge Is Lacking in the US, Mexico, Brazil According to a study published by cryptoliteracy.org comprehension of cryptocurrency fundamentals is low in 2021. The researchers leveraged a Yougov survey to sample roughly 1,000 participants who are aware of cryptocurrencies from each country. The study consisted of 17 questions pertaining to cryptocurrency, bitcoin, decentralized finance (defi), non-fungible tokens (NFTs), and general sentiment. One of the key findings in the survey notes that “ownership is the best t...

Nigerian Crypto Exchange Raises Over $4 Million in Latest Funding Round

A Nigerian crypto exchange, Busha, recently raised over $4 million in a funding round led by Jump Capital. Busha, a Nigerian cryptocurrency exchange, is reported to have raised a $4.2 million seed funding round recently. These funds, according to the exchange, will be used to expand its operations across Africa. Financial Freedom According to a report by Disrupt Africa, Jump Capital led the funding round that also featured Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital, and other investors. In his comments following the announcement, Busha co-founder and CEO Michael Adeyeri is quoted explaining the exchange’s key objective and how the latest funding round helps the company. He said: Our immediate mission is to onboard the next one million Africans into the crypto economy. We have seen the significant difference in financial freedom that crypto can make in the lives of our over 200,000 users, and we are very motivated to extend this to more pe...

Stablecoin Economy Surges Past $150B, Stablecoins Command Over 50% of Global Crypto Trade Volume

A great number of digital currencies have swelled in value this year and as the end of 2021 approaches, the market capitalization of all 11,000+ crypto assets in existence is roughly $2.6 trillion. These days, it’s safe to say that dollar-pegged tokens, otherwise known as stablecoins, have a strong presence in the crypto market. Today the market capitalization of all the stablecoins in the world is more than $152 billion or 5.84% of the crypto economy’s USD value. Stablecoins Have Seen Massive Growth Within the Crypto Economy Stablecoins have been a hot topic in the cryptocurrency world as the growth of these dollar-pegged tokens in 2021 has been quite significant. Basically, a stablecoin is a type of cryptocurrency that leverages the value of an external reference such as the U.S. dollar or another fiat currency. The largest stablecoin today in terms of market capitalization is tether ( USDT ) as its current market valuation is $73.95 billion. During the last 30 days, USDT ’s mark...

Crypto Economy Slides 8% in Value Shaking Out Billions, Blame Placed on New Covid Variant

During the last 24 hours, the crypto economy has lost 8% in value as a great number of crypto asset prices dropped significantly during the overnight trading sessions. Crypto markets lost more than $22 billion in value as the leading digital currencies in the top 20 standings lost anywhere between 6% to 20%. Global Markets Lurch in Fear Over B.1.1.529 Variant Global markets are shaken today as headlines declare that a new Covid-19 variant called B.1.1.529 is spreading beyond South Africa where it was discovered. The B.1.1.529 variant is said to be more contagious than the Delta variant and it is said to have around 30 mutations . As soon as the headlines broke, markets in nearly every nation worldwide started to tank, and investments tied to the oil and gas sector dive-bombed. For instance, the international benchmark for a barrel of Brent crude slipped in value by 5.3%. On Friday, the economist and bitcoin advocate Alex Krüger tweeted about how the new variant has roiled global ma...

Flexible Staking Now Live on Bybit’s ByFi Center

Bybit recently launched Flexible Staking on its ByFi Center. This new service allows traders to stake BTC , ETH , USDT , and USDC to earn stable and guaranteed yields. Participants will receive yield every day for their staked tokens. Traders can get started by staking at least 0.01 ETH , 0.001 BTC , 50 USDC, or 50 USDT . For newer traders with a lower risk appetite, they can get started with either USDC or USDT , as these flexible staking products have lower entry points. The staked tokens can be unstaked by participants at any point in time. All traders, whether seasoned or new, are eligible to participate in Flexible Staking as no KYC verification is required right now. ByFi Center is Bybit’s asset management platform. It helps both new and veteran traders grow their crypto assets easily. Other than Flexible Staking, ByFi Center also offers DeFi Mining, Dual Asset Mining, and Launchpool. Established in 2018, Bybit is one of the world’s fastest growing cryptocurrency trading...

Russian Parliament Sets Up Working Group on Cryptocurrency Regulations

A working group on cryptocurrencies and related activities will soon begin to meet at the State Duma, the lower house of Russian parliament. Its members are expected to take on the task of clarifying various regulatory aspects related to digital financial assets such as the legalization of mining and the introduction of taxation. Working Group in Russian Parliament to Address Regulatory Gaps in Crypto Space The Russian State Duma is now forming a working group of deputies who will try to deal with outstanding questions regarding the regulation of decentralized digital currencies. The group will hold its first meetings in the near future, the head of the parliamentary Financial Market Committee, Anatoly Aksakov, revealed to RIA Novosti. Duma Speaker Vyacheslav Volodin proposed the establishment of the working group on Nov. 11, the Russian business news agency Prime reported. Aksakov expressed his positive attitude towards the move and added that the house is now gathering the group...

Sidus Heroes CEO Dan Khomenko Talks About the Economics of Play-to-Earn Blockchain Games, NFTs and the Metaverse

SIDUS HEROES is the first ever WEBGL, AAA-level, Play-to-Earn, NFT and MMORPG game. The game is set in a space metaverse at a time when technological advancements have reached the level of merging with all living beings. All characters belong to one of several blockchain races and embody that chain’s strongest attributes. Dan Khomenko is the co-founder and CEO of SIDUS HEROES . He recently joined the Bitcoin.com News Podcast to talk about the game: Before getting into blockchain gaming, Dan Khomenko worked in FinTech, banking, property development, blockchain and crypto. Dan has co-founded one of the biggest blockchain software development companies and consulted over 500 projects, many of which have now reached the Top 200 on CoinMarketCap. He is also the founder and CEO of NFT marketplace NFT STARS (launched in July 2021) and the CEO of DeFi aggregator SpaceSwap. SIDUS HEROES provides users with multiple gaming scenarios. Users can choose to fight in the Battle Arena, build fi...

Etoro to Limit Cardano and Tron Services in US Due to Regulatory Concerns

Etoro, an Israel-based trading platform, has taken action on its platform regarding the trading of cardano and tron. Now, U.S.-based customers will have limited functionality with these cryptocurrencies on the Etoro platform starting in December. Etoro explained in a post that these new measures were a consequence of “business-related considerations in the evolving regulatory environment.” Etoro Limits Cardano and Tron Trading for US-Based Customers Etoro, one of the most important Israel-based trading companies, has limited tron and cardano trading for users based in the U.S. The announcement was made on November 23, in a blog post that informed customers about the limitations that these assets will see applied to the platform. Users will not be able to open positions for these cryptocurrencies starting December 26, and will not be able to stake these assets anymore starting next December 21. However, this only applies to new positions. Existing positions will have to be maintain...

Uzbekistan Allows Residents to Trade Cryptocurrencies on Local Exchanges

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...

Ban or No Ban: Conflicting Reports on Crypto Regulation Coming Out of India

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 Man Advises Buy Bitcoin Now — Says US Looking Increasingly Like Third World Country

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...

JPMorgan CEO Jamie Dimon Warns People to Be Careful When Investing in Crypto Citing ‘No Intrinsic Value’

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...

US Senator Asks Coinbase, Gemini, Binance, Tether How They’re Protecting Consumers

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...

GAIMIN Releases Platform to Create a Global Data Processing Network With “Supercomputer” Performance

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...

Seventh-Largest NFT Platform Rarible Launches Messaging Application

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...

Jury to Decide Fate of Billion-Dollar Bitcoin Lawsuit Involving Craig Wright

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...

Bitcoin Dominance Slides Below 40% for First Time in 6 Months

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...

LBank Exchange Will List Dexioprotocol (DEXI) on November 27, 2021

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...
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