Bitcoin News and Finance: What You Need to Know

American professional basketball player for the National Basketball Association (NBA) Kevin Durant, is joining Coinbase according to a recent report from Bloomberg. According to the report, Durant will appear as “a face of the brand” and will help promote the exchange’s advertising content. Kevin Durant Joins Coinbase NBA legend Kevin Durant, otherwise known as “KD,” has joined Coinbase in an advertising deal that will feature Durant as a Coinbase spokesperson. Durant plays for the Brooklyn Nets as a power forward and is widely considered one of the best professional basketball players of all time. The Brooklyn Nets star will join Coinbase as “a face of the brand” according to Durant’s manager, Rich Kleiman, speaking with Bloomberg. While Kleiman says that KD does minimal amounts of brand partnerships, off-court, the Nets’ forward is one of the highest-paid basketball players in the world thanks to his deals with Nike and Foot Locker. “Kevin does very, very few brand deals and th...

YouHodler is a fintech platform that helps people access the benefits of the crypto economy. It allows users to get instant cash and cryptocurrency loans, exchange crypto, and earn up to 13% APY by depositing crypto in their reward account. Ilya Volkov is the CEO and Founder of YouHodler . He recently joined the Bitcoin.com News Podcast to talk about the business: Ilya has more than 15 years experience in the fintech industry. Prior to his entry into the cryptocurrency and DLT industry, he got his expertise in different financial market segments such as commercial finance and online trading with various financial assets — for almost 6 years he was a Member of the Management Board of Libertex Group (Forex Club Group). Currently, Ilya is Member of the Board of the Crypto Valley Association, Switzerland, and its Western Chapter Chair, coordinating the CVA’s activity in this region and abroad. The Bitcoin.com News podcast features interviews with the most interesting leaders, fou...

Global markets have defied predictions as the U.S. Federal Reserve and several central banks worldwide are prepping to slow down monetary easing policy. On Wednesday, the U.S. central bank’s Federal Open Market Committee (FOMC) said it plans to taper quantitative easing (large monthly asset purchases) and end the program by March 2022. Moreover, the FOMC members decided to keep interest rates at zero but expect at least three rate hikes next year. Federal Reserve Outlines Asset Purchase Tapering Plan and Rate Hikes for 2022 Since the onset of Covid-19 in the United States, the U.S. Federal Reserve initiated a monetary easing policy like no other in history. The move has led to a surge in inflation and analysts and economists worldwide have criticized the Fed’s decisions in recent times. The FOMC concluded a two-day meeting on Wednesday and the central bank explained that it plans to shrink its bond purchase program to $30 billion per month by January. This month the Fed will leve...

Federal Reserve Chairman Jerome Powell says that he does not see cryptocurrencies as a financial stability concern. However, he noted that they are risky and “there’s big consumer issues for consumers who may or may not understand what they’re getting.” Fed Chair Powell Says Cryptos Are Risky but Currently Not a Financial Stability Concern Fed Chairman Jerome Powell talked about cryptocurrency in a press conference Wednesday. Commenting on whether cryptocurrencies are a threat to the country’s financial stability, he said: I don’t see them as a financial stability concern at the moment. I do think they are risky. They’re not backed by anything. “I think there’s big consumer issues for consumers who may or may not understand what they’re getting,” Powell continued, adding that “There are certainly developments in the markets that are worth following, which are really not in our jurisdiction.” Powell also discussed stablecoins. He noted that he supports the view expressed in the ...

The Indian government is reportedly making additional changes to the country’s crypto bill. The bill, which is listed for the current session of parliament, may be taken up in the budget session instead. According to reports, the government could also “consider bringing an ordinance or special order after the session.” Indian Crypto Bill Needs More Work The government of India is reportedly planning to make additional changes to the crypto bill. The “Cryptocurrency and Regulation of Official Digital Currency Bill 2021” is currently listed to be considered in the winter session of parliament. However, a senior government official told Business Today Thursday that the government is considering reworking the bill and will likely introduce it in the budget session in February. According to the unnamed official: Discussions are ongoing and key issues like the treatment of private cryptocurrencies, the rationale of regulation and global practices is being looked into once again. The...

Minereum, the project behind the first self-mining smart contract, welcomes you to The Minereum World – an exciting and interactive play-to-earn 3D game venture where users can come together virtually in the metaverse! The goal of the game is to grab and own as much land as possible! The more land you own, the more cubes you will get, leading to more and more Minereum. Want to know more? Find out below. Introducing the Minereum World Metaverse Minereum has recently announced to the community that its entering the Metaverse race with the launch of Minereum World . The Minereum World consists of a finite number of land plots, these land plots are NFTs, and once minted by the users, they can be traded on open markets like opensea.io. The Land Pre-Sale is live, so anyone can now mint Minereum Land for the ETH , BSC , and Polygon Chains. 20,000 plots of land are available for meeting on each blockchain and can be minted by anyone via the Minereum web3 platform. The costs to mint NF...

A court in Beijing has ruled that three investment agreements for bitcoin mining operations in Sichuan are “invalid.” A compensation claim has been rejected in the case, viewed as an indication that the Chinese judiciary would not provide protection for crypto-related interests. Beijing Court Invalidates Bitcoin Mining Contracts The Chaoyang District People’s Court in the Chinese capital has recently rejected a lawsuit seeking damages from a crypto company. It was filed by one of its clients who failed to make a return on his investments in bitcoin mining, the Hong Kong daily South China Morning Post reported, quoting state-run media in the mainland. Beijing Phonf Marketing Technology, the plaintiff, entered into three agreements with Zyzc Blockchain Technology in May 2019 for the deployment of mining hardware in Sichuan, paying 10 million yuan ($1.6 million) for the job. At the time, the central government was still tolerant of crypto mining, while some local authorities, includin...

The pace of the crypto industry’s acceleration in 2021 has surprised many, including Marcus Swanepoel, CEO of cryptocurrency exchange Luno. Swanepoel recently remarked: “We knew it was coming, but just not that fast, particularly in certain subsectors like NFTs and some altcoins.” Subsectors at ‘Top of Their Hype Cycle’ The acceleration of the crypto industry in 2021 surprised some players in the space, including Marcus Swanepoel, co-founder and CEO of crypto exchange platform Luno. Although Swanepoel notes this acceleration was expected, he nonetheless concedes that the pace of the growth was not anticipated. In remarks published by the Daily Maverick, the CEO offers his thoughts on what may have caused the rapid acceleration. “The industry accelerated a lot faster this year than we anticipated. We knew it was coming, but just not that fast, particularly in certain subsectors like NFTs and some altcoins,” Swanepoel is quoted explaining. However, Swanepoel opines that some of th...

Along with the growing popularity of cryptocurrencies, Ukrainians are enjoying an expanding range of related services and products. Besides new options to buy and trade coins, crypto users in the country will be offered two cards that will allow them to spend their digital currencies in stores and online. Wirex Gives Ukrainians Access to Over 20 Cryptocurrencies, Promises Crypto Card U.K.-based crypto payment processor Wirex has allowed residents of Ukraine to purchase and exchange cryptocurrencies on its platform. The company supports more than 20 cryptocurrencies, including major coins such as BTC and ETH as well as popular altcoins like DOGE. Ukrainians will also be able to open crypto savings accounts based on defi products, Wirex told Forklog this week. These will return up to 16% compound interest on selected currencies annually, the provider explained, noting that the interest can also be credited in the native WXT currency. Wirex also plans to issue its card to Ukrainia...

As both fractional and traditional non-fungible tokens (NFTs) have seen exponential growth this year, the firm Otis has announced the launch of a marketplace called Otis House. The platform is a new NFT project that turns physical items into NFTs, and the tokens can be traded at any time for the physical items stored in a vault. The platform has launched the auction of six assets that include a vintage Super Mario Bros 3 video game and a rare Bob Ross painting. Otis House Aims to Bridge NFTs and Physical Collectibles While NFTs have been a hot subject in 2021, Bitcoin.com News has reported on a number of interesting projects that use NFT technology in a different way. For instance, Bitcoin.com News spoke with the popular American rapper Ja Rule in September about his startup Flipkick.io , a platform that leverages both physical and digital NFTs from artists, celebrities, and creators who want to monetize their work. Our newsdesk has also discussed fractional NFTs on a few occasion...

On Wednesday, the non-fungible token (NFT) marketplace Rarible announced that the platform now supports the Tezos blockchain network. The move follows Rarible’s integration with the Flow blockchain protocol in mid-November, and the NFT marketplace now supports a total of three blockchain networks. 8th Largest NFT Marketplace Rarible Adds Tezos Support Rarible says it has expanded its multi-chain compatibility as it now supports a total of three blockchains which include Ethereum, Flow, and now the Tezos proof-of-stake (PoS) blockchain. The strategic alliance with Tezos allows Rarible to provide users the ability to “mint low fee and energy-efficient NFTs, and support secondary sales of projects live on the Tezos ecosystem,” the company’s announcement explains. Rarible is the eighth largest marketplace in all-time sales, according to dappradar.com statistics , with $260.45 million in sales across 88,258 traders. The NFT marketplace originally started its services leveraging the Eth...

On December 14, Moonray PBC, the developer behind the multiplayer action-role-playing game (RPG) Moonray, announced that the project has raised $3.5 million from strategic investors. Moonray is considered the first metaverse and gaming non-fungible token (NFT) exchange built on the Bitcoin network via Stacks. Moonray PBC Leverages Stacks to Build a Blockchain Game on Bitcoin, Project Raises $3.5 Million From Strategic Investors Play-to-earn (P2E) games, non-fungible tokens (NFTs), and the metaverse have become very popular in recent times. There’s been a massive amount of funding directed at projects developing video games and new ventures being launched by big-name game makers. A report published in mid-November shows that game developers are starting to incorporate blockchain tech into games more frequently. On Tuesday, the startup Moonray PBC announced that the team has raised $3.5 million in a funding round led by Animoca Brands. The funds will be dedicated toward scaling th...

Shopping․io, the very first E-commerce platform that allows users to purchase from major hubs using over 200 cryptocurrencies, is now proud to expand the catalog of products and to launch their very own NFT collection: the Shopverse . On December 3rd, Shopping․io announced their incredibly daring and adventurous journey into the Metaverse with the introduction of their genesis NFT line – Shopverse ! This will also be the first ever NFT to add benefits when you shop at major e-commerce hubs online, such as Amazon, eBay, Walmart, and Home Depot. The NFT will serve as your pass to explore a virtual world behind Shopping․io and will show how a modern shopping mall can be constructed in the mysterious world of the Metaverse. Find adventure, exploration, and a thriving nightlife as Shopping․io walks beside you in one of the biggest events to ever hit the online world of E-commerce. Shopping․io is building an experience unlike any before by allowing NFT holders of their genesis collec...

The Tanzanian central bank governor recently revealed that cryptocurrencies are not outlawed in the country but warned those dabbling in crypto-related investments that they do so at their own risk. Central Bank Open to Ideas The governor of the Bank of Tanzania (BOT), Florens Luoga, recently stated that the central bank has not outlawed cryptocurrencies and that those putting money into crypto-related investments are doing so at their own risk. Also, in his remarks published by The Citizen, Luoga revealed that the BOT — which is now exploring the possibility of issuing a digital currency — is nonetheless open to any ideas on how it can regulate cryptocurrencies. “We can’t outlaw something that we are not yet competent with or regulate a game that we don’t really know how it is played. We have not reached a position where we can costerise [sic] cryptos, but we welcome applications from interested parties. All should feel free to present their ideas for consideration,” Luoga is qu...

Dvision Network is a blockchain-based metaverse, which powers the robust and diversified NFT marketplace within its augmented reality. Dvision is based on three primary platform features, which are known as NFT Market, Meta-Space, and Meta-City. The users can utilize LANDs (Meta-Space) in the metaverse in order to build their preferred content that will be integrated as an essential part of the Meta-City. The user-created content has no limitations and can be presented in the form of gaming, academic, commercial, or even entertainment pieces of in-game content. Dvision has recently conducted one of the largest LAND Sale on BSC, got invested by in Republic Realm, and partnered with Refinable and DeFine for P2P NFT sales on the secondary marketplaces. Boburjon Muydinov is the head of business development at Dvision Network . He recently joined the Bitcoin.com News Podcast to talk about the metaverse: Boburjon has a strong finance and business background, being alumni of top unive...

Bitmex co-founder and cryptocurrency investor Arthur Hayes has addressed the current state of the market with the effect the U.S. Federal Reserve’s upcoming tapering process may have. Hayes also links this with the Evergrande situation in China and advises cryptocurrency newcomers to hold on until new signals emerge next year. Arthur Hayes Analyzes the Current Market Situation Former Bitmex CEO and cryptocurrency investor Arthur Hayes issued his opinion on what cryptocurrency investors should do in the context of the current market. In his latest digest, titled “Circo Loco” (Crazy Circus), Hayes expounds on the current market situation in view of the larger economic framework, taking the Federal Reserve tapering and the recent Evergrande default event into account. To him, the situation in China, combined with the accelerated tapering process that the Federal Reserve is already conducting, will affect cryptocurrency prices in a substantial way. Hayes states: The Fed will contin...

Crypto exchange Binance is winding down its exchange operation in Singapore after the company decided to withdraw its application with the Monetary Authority of Singapore (MAS) to operate a digital asset exchange in the country. “Buying and selling of crypto from existing assets of users will be discontinued from 13 January 2022,” said Binance Singapore. Binance Withdraws Application to Operate Crypto Exchange in Singapore Binance announced Monday some changes affecting all users of its Singaporean platform, Binance.sg. Noting that “The decision has not been made lightly,” the exchange detailed: We are writing to you today to inform you that Binance Asia Services Pte Ltd (BAS) intends to withdraw its licensing efforts in Singapore and wind down its digital payment token (‘DPT’) services in Singapore by 13 February 2022. Binance explained that with immediate effect, no new user registrations will be permitted on Binance.sg and existing users will not be able to deposit crypto or ...

The crypto-economy has been sliding in value this week and during the last 24 hours, it has lost 2.5% dropping to $2.3 trillion. The leading crypto asset bitcoin has slid 4.8% during the last seven days and ethereum has dropped 11.7% last week. The downward spiral has cryptocurrency advocates questioning whether or not the bull run is over and if the bear market has begun. Bears Continue to Claw the Crypto Economy Down Following all-time price highs on November 10, the crypto asset economy has shed an enormous amount of value and continues to sink lower every few days. After reaching $69K per unit on November 10, bitcoin (BTC) managed to stay above the $60K zone for six days after, and for just over two weeks, BTC managed to stay above the $50K region. After sliding below $50K on December 4, the same day it hit a low of $43,972 per unit but has managed to jump back above the $47K zone. Still, bitcoin (BTC) is trading for 149% higher than it was on this day last year. However, mo...

PRESS RELEASE. Metaverse Alliance has announced the launch of its online Metaverse Hackathon (Metathon) for all metaverse enthusiasts around the world. In recent months, the metaverse has generated a lot of buzz across the internet, with notable corporations like Facebook and Microsoft all racing to embrace the concept. The Metaverse Alliance team believes that the metaverse will create long-term value in the future and that both real and virtual worlds will exist in parallel with little boundaries. Metathon comes from the portmanteau of metaverse and hackathon. It is seeking to create a viable platform for great and amazing developers who have the imagination and vision of the metaverse. The metathon is for those who believe that many protocols and Web 3 tools are necessary for everyone in terms of metaverse infrastructure. It is also open to artists who understand the future direction of non-fungible tokens (NFTs). Details About the Metathon The Metaverse Alliance has cooperated...

Dogecoin got a boost Tuesday morning when Elon Musk announced that Tesla will be accepting dogecoin for some products. Musk has just been named Time Magazine’s Person of the Year and said that DOGE is more suitable for transactions than bitcoin. Tesla Will Begin Accepting Dogecoin Tesla CEO Elon Musk has announced via Twitter that his electric car company will accept dogecoin (DOGE) for some products. In a tweet Tuesday morning, Musk wrote: “Tesla will make some merch buyable with doge & see how it goes.” The announcement came just one day after Musk was named Time Magazine’s Person of the Year and said that dogecoin is better suited for transactions than bitcoin. The Tesla boss noted that BTC is more suitable as a store of value. The price of dogecoin popped 28.5% from $0.1699 at the time of Musk’s tweet to $0.2183 in just over an hour based on data from Bitcoin.com Markets. Meanwhile, Tesla still has not resumed accepting bitcoin. The electric car company began accepting...

SIDUS HEROES is the first ever WebGL, AAA-level, Play-to-Earn, NFT and MMORPG game built by an experienced tech company with 200+ full-time employees and numerous successful projects under its belt. 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. The game provides users with multiple gaming scenarios: interstellar exploration, battles and settlements, as well as scope for political, social and economic development. Introduction and Details SIDUS HEROES utilizes a gaming graphics engine built on WebGL. The graphics engine enables unmatched HD rendering quality in compatible web browsers. Users don’t need to download any applications onto their PCs or phones, wait for the game to download, install updates or bother about storage. Players can simply enter the game’s URL and the game is restored f...

Vulcan Forged, a gaming and NFT platform, suffered a security breach that allowed attackers to gain control of some cryptocurrency wallets of the service. The hackers got hold of 96 user wallets and managed to steal more than 4.5 million PYR, the native token of the project, among other assets. Vulcan is now dealing with the aftermath and announced it would reimburse all users with funds from their treasury. Vulcan Forged Wallets Hacked, 4.5 Million PYR Stolen Vulcan Forged, a blockchain gaming platform with an NFT market, suffered a security breach on December 13 that allowed attackers to gain access to the private keys of some users. According to early reports, the attackers managed to compromise the keys of 148 wallets, holding 4.5 million PYR, the native token of the project, and other crypto-assets such as ethereum and matic. Later, the platform stated that just 96 wallets were affected. Vulcan also stated that, due to this hack, they were moving to a fully decentralized wal...