Bitcoin News and Finance: What You Need to Know

Anatoly Aksakov, head of the Financial Market Committee at the Russian parliament, has reiterated a warning for cryptocurrency investors and insisted that Russians owning coins should declare their digital assets. The parliamentarian also urged for the comprehensive regulation of crypto mining and taxation. Aksakov Warns Russian Crypto Investors They Can Lose Everything Russians have put 5 trillion rubles (around $67 billion) into crypto and some of them may lose everything as cryptocurrencies are not backed by anything, Anatoly Aksakov, a deputy with a key role in the regulation of Russia’s crypto space, has recently stated. Many of these people are non-qualified investors and as such, pyramid schemes are likely to occur, added Aksakov who heads the Financial Market Committee at the State Duma , the lower house of parliament. Repeating previously issued warnings in an interview with the parliamentary Duma TV channel, the Russian lawmaker emphasized that there is no stability in t...

In our view, blockchain technology and non-fungible tokens (NFTs) present a perfect tool to revolutionize the traditional Fine Art industry, to the benefit of both artists and collectors. With this in mind, the Invictus NFT Lab’s inaugural Out of Africa collection aims to blaze the trail by facilitating, via the Ethereum blockchain, the sale of a professionally-curated collection of 118 unique physical artworks from Southern Africa’s top artistic talent. Throughout history, major socioeconomic change has largely only taken place as new generations displace older generations that are more set in their ways. Often these changes are necessitated or enabled by technological development. For Millenials and Gen Z, growing up in a period that has seen computers, the internet and smartphones revolutionize our way of life has left these generations to look with skepticism at many traditional institutions that have failed to adapt. The world of Fine Art is a sphere that is dangerously at ri...

Crypto.com, a leading cryptocurrency exchange, experienced an incident on January 17 when some of its users reported strange activity in their accounts. The exchange acknowledged the event, and conducted an investigation immediately after, declaring that all funds were safe. However, reports from security and blockchain auditing firms Certik and Peckshield indicate that some funds were removed from exchange wallets. Crypto.com Suspends Withdrawals After Suspicious Activity Reported Crypto.com, a cryptocurrency exchange, suspended normal withdrawal operations after customers reported having experienced suspicious activity regarding their accounts. In its first statements, the exchange told customers that all funds were safe. The reports led to an enhancement in the security measures applied to access the accounts, with all customers having to sign back into their accounts. Also, the two-factor authentication (2FA) for all accounts had to be reset. Some customers complained about n...

The U.K. government has announced plans to impose new rules on cryptocurrency ads to ensure they are fair, clear, and not misleading to consumers. The rules will be enforced by the Financial Conduct Authority (FCA). UK to Impose New Rules on Crypto Ads The U.K. government announced Tuesday plans to impose new rules on cryptocurrency advertisements to “protect consumers from misleading claims.” The announcement states: New rules will increase consumer protection while encouraging innovation. The U.K. chancellor of the exchequer, Rishi Sunak, commented: “Crypto assets can provide exciting new opportunities, offering people new ways to transact and invest – but it’s important that consumers are not being sold products with misleading claims.” The new rules will bring the promotion of crypto assets within the scope of financial promotions legislation to ensure they are “fair, clear, and not misleading,” the government explained, elaborating: This means the promotion of qualifying...

Crypto exchange Binance is launching a new exchange in Thailand after the country’s Securities and Exchange Commission (SEC) filed a complaint against the company for operating without a license. Binance has now signed an agreement with Gulf Energy Development, a Thai public company, to establish a crypto exchange in Thailand. Binance and Gulf Energy to Establish a Crypto Exchange in Thailand Gulf Energy Development, a Thai public company, notified the Stock Exchange of Thailand (SET) Monday that its wholly owned subsidiary Gulf Innova has entered into a Memorandum of Understanding with Binance Group “to jointly study avenues for the development of digital asset exchange and related business in Thailand.” The company added that it “foresees rapid growth in digital infrastructure in Thailand as the economy increasingly becomes driven by innovation and technology, with digital assets and related technology playing a prominent role in improving efficiency of financial infrastructure i...

The reigning UFC Heavyweight Champion Francis Ngannou has announced the mixed martial artist has partnered with the payments firm Cash App and plans to take half of his UFC 270 purse in bitcoin. Ngannou told his 620,100 Twitter followers that he believes “bitcoin can empower people everywhere.” ‘Bitcoin Is the Future and I’m a Believer’ — Mixed Martial Arts Champ Francis Ngannou to Take Half of His Purse in Bitcoin On January 18, 2022, the Ultimate Fighting Championship (UFC) Heavyweight Champion Francis Ngannou explained that the fighter plans to get half of his UFC 270 purse paid in bitcoin ( BTC ). UFC 270: Ngannou vs. Gane will debut on Saturday, January 22, 2022, as the ‘Predator’ Ngannou will face the mixed martial artist ‘Bon Gamin’ Ciryl Gane. The knockout artist Ngannou will defend his title at the Honda Center in Anaheim, California. The French Cameroonian mixed martial artist will join the likes of athletes like Russell Okung, Odell Beckham Jr, and Aaron Rodgers choosi...

The use of bitcoin as a digital currency for payments has gone down significantly, according to the numbers stemming from Bitpay, one of the leading cryptocurrency payments processors. While most of the purchases were made with bitcoin back in 2020, this dominance has dwindled, opening the space for other tokens and currencies, such as ethereum and stablecoins, to enter the crypto payments arena. Bitcoin Use for Payments Diminished in 2021, Bitpay States Bitcoin’s use as digital payments currency has dwindled since 2020. This was the conclusion that Bitpay, one of the leading cryptocurrency-based payment processors, had when reviewing the numbers the market left them last year. Bitpay told Bloomberg that the dominance of bitcoin for purchases in its platform went down from 93% during 2020, to 65% in 2021. This loss of almost a third of its dominance has to do with the entrance of other currencies into the payment arena. The rise of stablecoins and the popularity that some meme coi...

According to new data from Linkedin, a professional work-based social network, the number of cryptocurrency-related job postings soared in 2021. The increase was even higher than the general increase in tech-related job postings. The nature of these posts is also diversifying, with various industries requiring people with crypto know-how. Linkedin Says Crypto Jobs Are on the Rise An analysis of the cryptocurrency jobs sector made by the work-based social network Linkedin found that cryptocurrency job postings soared in 2021 even when compared to other growing fields. The company stated that job postings including the words “ethereum,” bitcoin,” and “cryptocurrency” grew almost 400% in 2021 when compared to the year before. The field outgrew even tech, which only managed to grow 98% in its job listings during the same period. The analysis concluded this demand had to do with the influx of funding that flooded the crypto environment last year: $30 billion were poured into the crypt...

The number of ether locked in the Ethereum 2.0 contract has exceeded 9 million ethereum or more than $28 billion using today’s exchange rates. The amount of ethereum locked into the contract has increased 22.29% since the first week of September 2021, when the contract held 7.4 million ether. Ethereum 2.0 Contract Exceeds 9 Million Ether While the proof-of-work (PoW) side of the Ethereum network has seen its hashrate tap all-time highs above 1 petahash per second (PH/s) this year, the transition to Ethereum 2.0 continues with ether being locked into the ETH 2.0 contract . Essentially, to become a validator and stake ethereum, 32 ETH is required to join the pool of ETH 2.0 validators. When the ETH 2.0 contract first launched, Bitcoin.com News reported on Ethereum’s co-founder Vitalik Buterin contributing funds to the contract on November 6, 2020. On January 17, 2022, etherscan.io data indicates that there’s approximately 9,057,890 ethereum worth over $28 billion (at the time...

PRESS RELEASE. The cryptocurrency market in the last months has witnessed the enormous success of promising valuable blockchain projects. Nevertheless, even investors from traditional markets are starting to detect the real potential of cryptocurrencies. They pour vast amounts of funds into the blockchain market. Therefore, the biggest success boom of promising projects is yet to come in 2022 and it is a good time to invest at current lower prices. This is a desirable situation for Venture Capital funds because demand for their services is rapidly increasing. However, their target is only wealthy investors due to the high entrance threshold. This leaves a huge number of individuals out of access to such benefits. Against this phenomenon comes the Decentralized Venture Capital (DeVC) trend. It aims to make investments in projects in the early stage of development accessible for everyone. DeVC is just beginning to take shape, but we can already distinguish the leading company in this...

A major bank in Pakistan has reportedly asked its customers to avoid conducting cryptocurrency transactions. Bank Alfalah’s action came shortly after the State Bank of Pakistan, the country’s central bank, submitted a report to the Sindh High Court recommending a complete ban on cryptocurrency. Bank Alfalah Asks Customers to Avoid Conducting Crypto Transactions Pakistani Bank Alfalah has reportedly started sending SMS alerts to its customers, asking them to avoid carrying out cryptocurrency transactions using its banking channels. Incorporated in 1992, Bank Alfalah is one of the largest private banks in Pakistan with a network of more than 800 ATMs and branches in more than 200 cities across the country. Owned and operated by the Abu Dhabi Group, the bank has an international presence in Bangladesh, Afghanistan, Bahrain, and UAE. According to several media outlets, the bank’s text message to customers reads: Dear Customer, Virtual currencies/coins/tokens, etc. are not legal tend...

India’s prime minister, Narendra Modi, has called on governments worldwide to collaborate on cryptocurrency. He pointed out that “The kind of technology that is associated with it, the decisions taken by a single country will be insufficient to deal with its challenges.” Indian Prime Minister Urges ‘Every Country, Every Global Agency’ to Collaborate on Cryptocurrency Indian Prime Minister Narendra Modi talked about cryptocurrency at the World Economic Forum’s virtual Davos Agenda conference Monday. “The challenges we have been facing are also increasing. To counter these, there is a need for collective and synchronized action by every country, every global agency. These supply chain disruptions, inflation, and climate change are examples of these. Another example is cryptocurrency,” Prime Minister Modi said, elaborating: The kind of technology that is associated with it, the decisions taken by a single country will be insufficient to deal with its challenges. We have to have a si...

Singapore’s central bank has issued guidelines to discourage cryptocurrency trading by the general public. The central bank emphasized that “the trading of cryptocurrencies is highly risky and not suitable for the general public.” Singapore’s Central Bank Discouraging Crypto Trading by the General Public The Monetary Authority of Singapore (MAS), the nation’s central bank, announced Monday that it has issued guidelines “to discourage cryptocurrency trading by [the] general public.” The guidelines restrict cryptocurrency trading service providers from promoting their digital payment token (DPT) services to the general public. DPT is commonly known as cryptocurrency, the MAS clarified. The central bank explained that companies should not market or advertise crypto services in public areas in Singapore or use third parties, such as social media influencers, to promote cryptocurrency services to the general public. Companies can only market or advertise crypto services on their own c...

A U.S. consumer survey shows that 25% of respondents who currently do not own cryptocurrency plan to start investing in crypto. “2021 was a good year for crypto. Of the respondents that own crypto, more than half reported that they had just started investing in the space within the last year.” ‘2021 Was a Good Year for Crypto’ Cryptocurrency exchange Huobi released a report titled “Crypto Perception Report 2022” Thursday. The report includes “an in-depth survey to learn how the average person views cryptocurrencies, their thoughts on emerging trends, and if they plan on investing in the space in the future,” the company detailed. A total of 3,144 U.S. adults aged 18 and over participated in the survey, 47% of whom were men. “The crypto industry has seen mainstream growth in 2021, but it’s still a niche topic among most people,” the report describes, elaborating: 2021 was a good year for crypto. Of the respondents that own crypto, more than half reported that they had just starte...

Konami, a Japanese game developer and software publisher, raised more than $160K in its first foray into the non-fungible token (NFT) scene. This was the result of an NFT auction related to the 35th anniversary of Castlevania, one of its most popular franchises. The end result contrasts with what other companies have experienced so far, facing a negative backslash regarding these activities. Konami Takes to Opensea With Castlevania NFTs Konami, one of the most recognized Japanese gaming development companies, raised more than $160K in sales during its first NFT related business. The company organized an NFT auction to celebrate the 35th anniversary of one of its most beloved franchises, Castlevania, which has sold more than 20 million copies at a worldwide level. 14 NFTs were sold during the auction, with the highest amount being paid for an NFT depicting the map of the first Dracula’s Castle, which sold for more than $26K. The second-highest bid was made by a three-minute video t...

PRESS RELEASE. GemUni , a Decentralized NFTs Gaming Platform for Play To Earn, has announced that its upcoming Initial DEX Offering (IDO) will be conducted on three launchpads GameFi, Red Kite, and KrystalGO on January 19th. GemUni is building a Decentralized NFTs Gaming Platform for everyone around the world to engage in Fun, Easy, and Play to Earn NFT Casual Games and Signature Games. Users can enjoy fun games while monetizing their experiences with gaming platform rewards and GENI Pass NFTs transactions. A Great Head Start Since its announcement, GemUni has been through three months full of activities and milestones. Last December, the Grand Opening INO event, featuring guests from prominent gaming and blockchain organizations, marked the first time the GENI Pass NFTs were offered on multiple NFT marketplaces. GemUni’s GENI Pass NFTs were highly sought after by crypto and gaming enthusiasts, with thousands of GENI Pass NFTs being sold. Such a good starting point prompted GemUni...

Fidelity expects more sovereign nation states, or even a central bank, to acquire bitcoin this year. “There is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers,” the firm explained. Fidelity’s Crypto Predictions Fidelity Digital Assets, a subsidiary of Fidelity Investments, published a report on crypto trends and their potential future impact earlier this month. Among the trends discussed in the report is the adoption of cryptocurrency by sovereign nations. “This past year saw some major moves by world governments with regards to digital assets,” Fidelity described. The report discusses countries like China that have banned cryptocurrency and countries like El Salvador that took the opposite approach and made BTC legal tender. “We think the two developments observed this year couldn’t be more opposed. Time will certainly tell which path is more successfu...

Boxing legend Mike Tyson, aka “Iron Mike,” says he is “all in on solana.” He is now asking his Twitter followers how high the price of the cryptocurrency SOL will go. Mike Tyson Asks How High the Price of Solana Will Go Mike Tyson, one of the greatest heavyweight boxers of all time, has been active in the crypto space. After announcing last week that he is “all in” on the cryptocurrency solana (SOL), he is now asking his 5.7 million Twitter followers how high they think the price of the crypto will go. He tweeted Saturday, “How high do you think Sol will go?” While his tweet has received 2.4K comments at the time of writing, no one gave him a serious price analysis for solana. Tyson is nicknamed “Iron Mike” and “Kid Dynamite” in his early career, and later known as “The Baddest Man on the Planet.” Last week, he tweeted that he was “All in on Solana,” adding that he “Just copped a Catalina Whale.” His tweet included an image of a non-fungible token (NFT) from the Catalina Whale M...

Robinhood’s chief financial officer has revealed the popular trading platform’s crypto priority and the potential of listing more cryptocurrencies. “We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,” he emphasized. Robinhood Waiting for Regulatory Clarity The chief financial officer (CFO) of Robinhood, Jason Warnick, talked about cryptocurrency during The Wall Street Journal’s virtual CFO Network Summit last week. Commenting on retail investors’ high demand for Robinhood to list more cryptocurrencies, particularly the meme crypto shiba inu (SHIB), Warnick emphasized, “It’s not lost on us that our customers and others would like to see us add more coins.” However, the Robinhood executive stressed: We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators. Compliance is a top priority at Robinhood. In December...

In mid-October 2021, Twitter founder Jack Dorsey revealed the payments firm Block Inc. (formally Square) was considering joining the bitcoin mining industry. Three months later, Dorsey tweeted that his firm was “officially building an open bitcoin mining system.” The Block’s Hardware General Manager: ‘We See Bitcoin Mining as a Long-Term Need for a Future That Is Fully Decentralized and Permissionless’ Jack Dorsey and the Block’s hardware general manager Tom Templeton discussed the company’s focus on bitcoin mining this week. Templeton explained that three months ago the Block hinted at building a bitcoin mining system and the firm has ultimately decided to step into the field. Templeton insists the goal is to make mining “more distributed and efficient in every way” and this includes maintenance, purchases, and setting up. “We’re interested because mining goes far beyond creating new bitcoin. We see it as a long-term need for a future that is fully decentralized and permissionle...

With Johann Steynberg now in custody in Brazil, a lawyer has suggested that South Africa may have to resort to an existing legal assistance agreement with Brazil if it wishes to have the CEO extradited. However, the success of any such extradition will depend on the next steps taken by authorities in Brazil. Steynberg Extradition Options Following the capture of Johann Steynberg, the CEO of Mirror Trading International (MTI) by Brazilian law enforcement, lawyer Darren Hanekom has confirmed that South Africa does have in place a legal assistance agreement with Brazil. According to the lawyer, the unsigned agreement could possibly be used to help facilitate Steynberg’s extradition to South Africa, home to many investors in MTI. Yet in his comments during an interview with Moneyweb, Hanekom also revealed that the United States has a similar agreement with Brazil which allows the latter to keep Steynberg in custody for up to 90 days. According to the lawyer, during this period two cou...

Cryptocurrency exchange Bitfinex has asked its Ontario users to withdraw their funds since they will no longer have access to any services offered by Bitfinex in March. Bitfinex Stops Providing Services to Ontario Customers Crypto exchange Bitfinex announced Friday that it is making changes to the services it provides to Ontario customers. Effective immediately, the firm said that “Ontario customers who do not have balances on the platform will have their accounts closed.” In addition, those who do not have open positions in the platform’s peer-to-peer financing markets will no longer have access to those markets. “Ontario customers who do not have open margin positions or ‘borrowing’ positions in our peer-to-peer financing markets will no longer have access to open margin positions or engage in ‘borrowing,'” the firm further detailed, adding: Starting on March 1, 2022, Ontario customers will no longer have access to any services. “Additionally, Ontario customers should wi...

Ethereum co-founder Vitalik Buterin set up a pair of polls on Twitter asking his followers if 80% of all transactions and savings in the year 2035 are in one currency and it is not ether, which currency they would prefer it to be. He asked them to choose from a number of cryptocurrencies including bitcoin, cardano, solana, tron, and Binance coin. Vitalik Buterin’s Cryptocurrency Twitter Polls Ethereum co-founder Vitalik Buterin set up a pair of polls on Twitter Thursday for the Ethereum community. “You wake up in 2035 and 80% of all transactions and savings in the world are in one currency that is not ETH . Which would you prefer it to be?” He wrote. In his first tweet, Buterin asked his followers to choose from BTC , USD, SOL, and ADA . The second tweet lets them choose from TRON, BNB , CNY, and NEO . After 24 hours, the first poll ended with 600,697 votes and the second with 358,743 votes. Cardano ( ADA ) tops the results of the first poll, followed by bitcoin ( BTC ) and solana ...

Bank of America’s analyst says that Solana could take market share away from Ethereum. Noting that Solana is optimized for micropayments, gaming, and non-fungible tokens (NFTs), the analyst expects “Solana could become the Visa of the digital asset ecosystem.” Bank of America on Crypto, Ethereum, and Solana Bank of America (BOFA) analyst Alkesh Shah published a research note on cryptocurrency this week arguing that Solana could take market share away from Ethereum. The Bank of America analyst described that Solana “produces a blockchain optimized for consumer use cases by prioritizing scalability, low transaction fees and ease of use,” citing Solana Foundation member Lily Liu. Its ease of use and low cost make the crypto optimized for micropayments, gaming, and non-fungible token (NFTs). With more than 50 billion transactions settled since its March 2020 launch, and $10 billion in total value locked, Shah said: Solana could become the Visa of the digital asset ecosystem. Solan...

The top meme tokens by market capitalization have increased in value by 4.4% in the last 24 hours according to statistics. Dogecoin had a good week jumping more than 20% during the last seven days. However, 14 meme tokens surpassed dogecoin’s weekly jump as a few tokens have seen triple-digit spikes over the last week. Tesla Acceptance Pushes Dogecoin Up 20% This Week, Shiba Inu Gains Over 7% After the electric car company, Tesla announced the firm would be accepting dogecoin (DOGE) payments, the meme crypto spiked in value almost immediately. At the time of writing, metrics show that DOGE has gained 20.3% over the last week. Data shows DOGE has seen a 24-hour price range of around $0.182 to $0.192 per unit on January 15. DOGE has an overall market valuation of around $24.8 billion and that represents 1.13% of the $2.20 trillion crypto economy. The second-largest meme crypto token shiba inu (SHIB) has not had a great week, compared to DOGE . Despite this, seven-day metrics show...