Bitcoin News and Finance: What You Need to Know

Some say trading is a game of luck; others view it as an adventure sport. Just like athletes love performing mind-blowing maneuvers, there’s a thrill that comes with executing the perfect trade, For those newer to the scene, trading competitions allow novice traders to learn and grow as a broker, and give more experienced participants the chance to overcome a new challenge. If you know what you’re doing, trading competitions can be a fun way to make a quick buck, but the level of risk can be hard to justify when you don’t have much to invest, especially with lackluster prizes and unpredictable markets. Phemex is no stranger to hosting trading contests, having successfully conducted Bitcoin Bonanza last month celebrating the launch of their inverse BTCUSD contracts . This time, however, the stakes are being raised. This November, Phemex, a Singapore-based crypto derivatives powerhouse, is launching the fourth edition of its ‘ Phemex Trader’s Arena ’ trading contest, encouraging team...

The publicly-listed crypto-asset exchange Coinbase has announced the company has acquired the Israeli firm Unbound Security. The announcement follows Coinbase acquiring the cryptocurrency wallet BRD last week and the Unbound acquisition is aimed at the company’s “commitment to providing the safest, most secure, and most trusted venue for anyone to interact with the [crypto economy].” Coinbase Acquires Israeli Company Unbound Security Ever since Coinbase (Nasdaq: COIN ) was publicly listed, the company has acquired a number of smaller companies. Prior to the listing on Nasdaq, the company acquired the firm Bison Trails and on April 30, the crypto-focused data analytics company Skew revealed it was purchased by Coinbase. The publicly-listed crypto asset exchange further purchased Zabo in August and during the first week of November, Coinbase acquired the company Agara. During the last week, Coinbase has revealed two more acquisitions. On Tuesday, Coinbase announced the acquisition ...

Cryptocurrency exchange Binance has explained its dogecoin issue which resulted in withdrawal suspension and Tesla CEO Elon Musk calling the problem “shady.” The exchange says it was a “rare issue” and no one was at fault. Binance’s ‘Rare’ Dogecoin Issue, Withdrawals Resumed Binance explained its dogecoin problem Monday, stating: What began as a fairly straightforward upgrade, turned into an issue where Binance users were unable to withdraw DOGE for the last 17 days. In addition, 1,634 users were sent old transactions. “The truth is that a combination of unlikely factors led to an unforeseen issue that ultimately only affected Binance,” the company admitted. Binance explained that any platform will have the same issue if it had listed dogecoin back in 2019 at v1.14.0, had transactions stuck in the wallet, and had upgraded the wallet to v1.14.2 and then updated it to v1.14.5. The exchange added: “Unfortunately for Binance, we had inadvertently threaded the needle with all of th...

A leading tech-focused retailer, Newegg, has announced its support for the meme cryptocurrency shiba inu (SHIB) with the launch of a massive billboard ad campaign. Newegg says it is set to accept shiba inu for payments in early December, which would be sooner than when AMC Theatres plans to add SHIB. Newegg Launches Massive Ad Campaign for Shiba Inu Major online retailer Newegg (Nasdaq: NEGG) announced its plan to accept the meme cryptocurrency shiba inu (SHIB) for payments Tuesday. Newegg is one of the leading tech-focused online retailers in North America, with a global reach in Europe, Asia Pacific, Latin America, and the Middle East. Its platform focuses on computer parts, PC components, laptops, gaming systems, automotive parts, and office supplies. The announcement explains: Newegg will begin accepting SHIB in early December, further cementing Newegg.com as a preferred destination for online shoppers who want to pay with cryptocurrency. SHIB will be accepted “as a form o...

Grayscale Investments has launched a solana trust. The company now has nearly $54 billion in total assets under management. The new trust, which is the company’s 16th crypto investment product, will solely invest in solana (SOL). The CEO of Grayscale said that investors are increasingly “diversifying their exposure beyond digital assets like bitcoin and ethereum.” Grayscale Adds Solana to Its List of Investment Products Grayscale Investments, the world’s largest digital currency asset manager, announced Tuesday the launch of Grayscale Solana Trust. The new trust, which will “solely and passively” invest in solana (SOL), the native token of the Solana network, is Grayscale’s 16th crypto investment product. The announcement notes: The trust is now open for daily subscription by eligible individual and institutional accredited investors. The trust functions the same as Grayscale’s other single-asset investment trusts. Grayscale’s other single-asset investment products provide expo...

PRESS RELEASE. Amsterdam, the Netherlands, 29th of November, 2021: TabTrader is excited to announce the launch of our own token (TTT) on Solanium and AcceleRaytor on December 1 🚀, aspiring to be the ‘ultimate trading terminal’; we are now on the way to drastically expand. DeFi is the future and TabTrader 2.0 makes sure to be a part of it! Following a recent closing of an $5.8 million equity round, TabTrader is ready to launch TTT to incentivize trading and accrue value for token holders. By participating in the IDO, users are taking active part in the project’s development, can benefit from a limited time offer, and an interesting investment opportunity given the scale of growth of the company. Tokens will be used within the platform in the future. Token holders will be able to use them for in-app purchases, as well as for transaction fees, and governance. ⚫️ White Paper Persons located in or residents of the United States, North Korea, Iran, Venezuela, any sanctioned countries ...

After the vertically integrated bitcoin self-mining company Griid revealed it secured a $525 million credit facility from Blockchain.com, the company revealed it plans to go public via a special purpose acquisition company (SPAC) deal. Griid will be listed on the New York Stock Exchange (NYSE) after merging with the company Adit Edtech. Griid to Go Public in a Merger With Adit Edtech Acquisition Corp Griid Infrastructure currently operates three U.S.-based mining facilities and aims to have 734 megawatts (MW) operational by 2023. On Tuesday, the company announced it entered a significant SPAC deal with the firm Adit Edtech Acquisition Corp. and after the merger, the two companies will have a combined value worth $3.3 billion. Griid started a newly formed holding company and the Griid parent company, called Griid Holdco LLC, and the holding company will be acquired by Adit Edtech. Griid explains that the firm expects a fiscal-year 2023 revenue return of around $1.6 billion after ex...

Galaxy Digital Holdings Ltd. has revealed the firm is looking to raise $500 million in an exchangeable senior note offering. The investment company, founded by billionaire investor Mike Novogratz in January 2018, aims to use the funds to “accelerate growth initiatives across its business lines.” Galaxy Reveals Exchangeable Senior Note Offering The investment firm Galaxy Digital (TSX: GLXY ) aims to raise $500 million via an exchangeable senior note offering. The convertible debt will be used to continue expanding the business. Galaxy details that the private placement will close in early December 2021 and will be subject to Toronto Stock Exchange (TSX) approval. Notes will only be sold to persons who qualify as “institutional buyers,” the announcement explains. “Galaxy Digital has agreed to issue and sell $500 million aggregate principal amount of 3.00% exchangeable senior notes due 2026 to certain purchasers, including affiliates of Arca, NZ Funds, Senator Investment Group and XN,...

Changes meant to postpone the introduction of a tax on virtual assets such as cryptocurrencies in South Korea have been approved by an important parliamentary committee. The draft legislation seeks to delay Seoul’s plan to impose a 20-percent levy on gains from crypto transactions. Ahead of Election, Major Parties Support Tax Break for Crypto Investors in South Korea South Korean parliament is taking steps to suspend a planned tax on profits from digital asset investments for another year. The move has been supported by the ruling Democratic Party, despite disagreements with the government itself, as well as the leading opposition People Power Party. The amendments, which also envisage the increase of an exemption on capital gains tax for real estate sales amid rising property prices, are viewed by Korean politicians as a popular proposition ahead of the upcoming presidential election in March next year, the Korea Joongang Daily noted in a report. The Strategy and Finance Committe...

Twitter now has a new chief executive officer after Jack Dorsey resigned Monday. Dorsey, who is still the CEO of Square Inc., previously said that he wants to focus on bitcoin. Fundstrat Global Advisors’ managing director and head of research explained why Dorsey’s departure from Twitter is bullish for crypto. Twitter Has New CEO: Jack Dorsey Steps Down Jack Dorsey announced Monday that he has resigned from Twitter. In his letter to the Twitter team, the former CEO explained that it was his decision to leave. Parag Agrawal, who served as Twitter’s chief technology officer, is the new CEO. Dorsey is still the CEO of Square Inc., which is currently working on several bitcoin projects . Tom Lee, managing partner and head of research at Fundstrat Global Advisors, believes that Dorsey’s resignation from Twitter is bullish for the crypto market. In an interview with CNBC Monday, he was asked what Dorsey’s exit from Twitter means for the bitcoin and cryptocurrency ecosystem. Responding ...

On November 27th, 2021, RChain ‘s founder Greg Meredith and blockchain scientist Atticbee were invited as guests to an AMA hosted by the Hoo Exchange . Hoo is a Dubai based innovation driven crypto exchange and has their in-house developed public chain, HSC, built for the global cryptocurrency market. In this session, Greg Meredith and Atticbee shared the latest developments in RChain and remarkable ideas about the future of the blockchain and metaverse. Built as A Coordination Technology, Instead of Payment Platform According to Greg, RChain focuses on blockchain as a coordination technology to provide a means for global coordination as conditions get more and more severe due to climate change. RChain is designed as a scalable global computer and storage mechanism, rather than a payments system. It is impossible to build a general purpose computer out of a cash register, while to build a cash register out of a general purpose computer is like a walk in the park. This is the fir...

As 2021 nears its end, the firm Harpercollins, the publisher behind the printed and online Collins English Dictionary, has revealed “The Collins Word of the Year.” According to collinsdictionary.com, the word of the year is the abbreviation for non-fungible token, otherwise known as “NFT.” Collins English Dictionary Word of the Year Is NFT Non-fungible token (NFT) collectibles have obtained a nod from the publishing team behind the Collins English Dictionary . The unabridged Collins English Dictionary is published by the company Harpercollins and was the first dictionary that was typeset using a computer database’s output. On an annual basis, Collins likes to give a specific term the Word of the Year award, and this year the word “NFT” is the grand champion. “‘NFT’, the abbreviation of ‘non-fungible token’, the unique digital identifier that records ownership of a digital asset which has entered the mainstream and seen millions spent on the most sought-after images and videos,” th...

According to an analysis of the $417.5 million that was raised by Nigerian tech startups during the first nine months of 2021, fintech firms accounted for about $379 million or 90.78% of the total. Nigerian Fintechs Dominate the African Continent Nigerian fintechs currently account for more than 90% of the $417.5 million that was raised by tech startups during the first nine months of 2021, a local report has said. While the report , which was compiled by local media outlet Punch, notes that the $417.5 million is already significantly higher than the $300 million that was raised in the entirety of 2020, it acknowledges that this growth in funds raised is largely thanks to fintech groups. To illustrate, the report points to the fact that $600 million was raised by fintech startups between 2014 and 2019. To prove that the fintech space has grown rapidly since 2020, the report makes reference to the Fintech Association of Nigeria (FAN)’s belief that investment in the financial servic...

The theatre chain AMC and Sony Pictures are offering NFT’s as a present for early buyers of tickets for the “Spider-Man: No Way Home” movie premiere. These tickets (and the opportunity to reclaim the gift NFTs) will only be available for users of AMC’s different subscriptions in its app (AMC Stubs A-List, Premiere, or Investor Connect). The NFTs will be issued on top of the Wax blockchain, and only 86,000 NFT’s will be available. ‘Spider-Man: No Way Home’ Gets the NFT Treatment AMC has partnered with Sony to offer NFTs to the buyers of tickets for the premiere of “Spider-Man: No Way Home.” The announcement was made via AMC’s portal , which specified the ticket sale started yesterday for the December 16 premiere. The company will only issue 86,000 NFTs to AMC’s perks program subscribers (AMC Stubs A-List, Premiere, or Investor Connect), and users of the app will be able to retrieve them when assisting to the function after scanning a code. This is the first time that AMC stepped in...

Pocketcoin (PKOIN) is a Proof-of-Stake token that is used decentralized advertising, boosting posts and featuring comments on the decentralized crypto social platform Bastyon ․ com. PKOIN also gives users specific privileges while using Bastyon ․ com social platform and is used for node staking. Authors also earn crypto for their content on Bastyon ․ com. And now Pocketcoin is available for purchase on https://buy.pkoin.indacoin.io/ for Visa/Mastercard through a newly announced Indacoin integration. PKOIN is also available on a number of exchanges including DigiFinex and Bitforex, and for purchase for 19 different cryptos at https://pkoin.net/ Recent Growth of Bastyon ․ com and PKOIN Userbase The crypto social network Bastyon has grown exponentially adding over one hundred thirty thousand users over the past three months. Bastyon’s block explorer routinely features hundreds of transactions showing the network is gaining majortraction. Bastyon recently added a video upload function...

The popular American-style pale lager produced by Anheuser-Busch, Budweiser announced on November 29, that the firm planned to issue a series of 1,936 non-fungible token (NFT) collectibles. Following the Bud-themed NFT market launch, the web portal experiences some hiccups. Budweiser Issues NFT Beer Can Collection — NFT Cans Give Access to the ‘Budverse’ At the end of August, the crypto community discussed the popular American beer brand Budweiser purchasing an NFT crafted by Tom Sachs called “ Life of the Party .” Moreover, Budweiser also acquired the Ethereum Name Service (ENS) domain called “beer.eth” on August 11, 2021. According to Opensea records , Budweiser spent $96,000 or 30 ether at the time of sale in order to acquire the ENS domain. There are 1,936 Budverse Cans because it’s a hat tip to our first Heritage Cans launched in 1936. And now you can own a piece of history and a collectible that gives you access to the future of Budverse. — beer.eth (@budweiserusa) Novemb...

Billionaire investor Mike Novogratz has cautioned that Federal Reserve Chairman Jerome Powell could slow down the crypto market in his second term in office. Commenting on his re nomination, Novogratz said Powell could “act more like a central banker than a guy that wants to be reappointed.” How Jerome Powell’s Second Term as Fed Chair Could Impact Crypto Billionaire investor Mike Novogratz, CEO of Galaxy Digital, talked about the impact the renomination of Jerome Powell as the Federal Reserve chairman for another term could have on the crypto market on CNBC last week. President Joe Biden nominated Powell to serve for a second term as Fed chair last week. Powell has overseen the biggest monetary stimulus in U.S. history to help the economy cope with the Covid-19 pandemic and subsequent crisis. The “macro story has changed a little bit,” Novogratz explained, adding that Powell getting reappointed could allow him “to act more like a central banker than a guy that wants to be reappoi...

Cryptocurrency exchange Kraken has announced support for the meme cryptocurrency shiba inu (SHIB). Deposits are now live and SHIB trading is expected to commence on Tuesday. The price of SHIB surged following Kraken’s announcement. SHIB on Kraken: Deposits Now Live, Trading Set to Begin Tomorrow Crypto exchange Kraken announced Monday that shiba inu (SHIB) deposits are live and trading is expected to start Tuesday. The exchange wrote: We’re thrilled to announce that Kraken now supports shiba inu (SHIB). “Funding is live, and we anticipate trading will begin tomorrow, November 30 — at which point Kraken will enable order entry and execution,” the exchange clarified, noting that the futures and margin trading service will not be available at launch. The shiba inu token will be tradeable against USD and EUR on Kraken, the announcement details, adding that there is a trading minimum of 50K SHIB, a price precision of 8 decimal places and a quantity precision of 5 decimal places. Mo...

Microstrategy has purchased 7,002 more bitcoins, growing its cryptocurrency stash to 121,044 coins. CEO Michael Saylor says, “Bitcoin is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.” Microstrategy Now Has 121,044 Bitcoins in Its Treasury The Nasdaq-listed company Microstrategy has purchased 7,002 more bitcoins. CEO Michael Saylor tweeted Monday: Microstrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per bitcoin. As of 11/29/21 we hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. At the time of writing, the price of bitcoin is $57,095.58 based on data from Bitcoin.com Markets . This means Microstrategy’s bitcoins are now worth more than $6.9 billion. Recently, Saylor discussed bitcoin becoming a $100 trillion asset class . He noted that bitcoin is winning against gold, asserting that “digital...

PRESS RELEASE. EverRise , the DeFi project that introduced the concept of buybacks in cryptocurrency, is going live with an upgraded version 2 contract on Monday, November 29th at 11:00 pm UTC. The new RISE token will be available on the Binance Smart Chain, Ethereum, and Polygon networks through PancakeSwap, UniSwap, and QuickSwap, respectively, with one supply across the three blockchains and balanced initial liquidity pools. This is the first time a token has launched on three chains at the same time and marks the first time the RISE token will be available on Polygon. The token was previously available on both the Binance Smart Chain and Ethereum. The upgraded contract features several noteworthy innovations and changes. Larry from Certik.io noted in an update to the EverRise community, “The upgraded EverRise contract is a technological tour de force. The Certik team is impressed with the level of innovation and engineering.” The most significant new feature is the introductio...

Google has warned users about the use of its Google Cloud platform by malicious actors to mine cryptocurrencies. In its latest Cloud Threat Intelligence report titled “Threat Horizons,” which provides users with security insights, the company informed that 86% of the compromised instances on Google Cloud platforms were being used to mine cryptocurrencies. Most of the accounts compromised were secured with weak passwords or with no password at all. Google Cloud Used to Mine Cryptocurrencies Software giant Google is alerting users about malicious actors using compromised Google Cloud accounts for mining cryptocurrency. Google Cloud accounts have access to processing power that can be easily redirected to perform malicious tasks. According to the first “Threat Horizons” report , issued by Google to raise awareness about the security weaknesses in its platform, 86% of the compromised accounts are used for this purpose. The report states that cryptocurrency mining in the cloud causes hi...

This month, the price of bitcoin sank below the $60K zone this month after reaching an all-time high (ATH) at $69K per unit. The pseudonymous bitcoin analyst and the creator of the bitcoin price model called stock-to-flow (S2F), Plan B, called the last three months of bitcoin prices correctly but the analyst’s “worst-case scenario” forecast missed the mark in November. Despite the recent bitcoin price drop, Plan B still seems confident bitcoin’s price is “on track towards $100K.” Plan B’s Bitcoin Price Prediction for November Misses the Analyst’s $ 98K Call The infamous pseudonymous bitcoin analyst Plan B is well respected among bitcoiners and has amassed 1.5 million Twitter followers since October 2017. Plan B is the creator of the popular bitcoin price model called stock-to-flow (S2F) , which quantifies the commodity’s (bitcoin) scarcity and then divides it by yearly issuance (the flow). The analyst has done well as far as bitcoin ( BTC ) price predictions are concerned, but thi...

One of the largest cryptocurrency mixing protocols, Tornado.cash, has announced the project will deploy on the L2 (layer 2) Ethereum platform Arbitrum One. The creators of the Ethereum-based mixing application explain that settling on Arbitrum will allow Tornado.cash users to benefit from cheaper transactions. Tornado.cash to Deploy on Arbitrum – ‘Cheaper Transactions Being the Biggest Comparative Advantage’ On November 29, the team behind the ethereum mixing application Tornado.cash revealed the project plans to deploy on the Arbitrum One network. The news follows the project’s recent collaborative efforts that applied network connections to Polygon, Avalanche, Binance Smart Chain, and Xdai. This week, total deposits for Tornado.cash on the Xdai chain crossed $1 million . In terms of ether deposited since the project’s inception, the protocol has taken in 2,222,007 ether, or $4.3 billion. Essentially, Tornado.cash improves ether transfer privacy by breaking onchain links betwee...