Bitcoin News and Finance: What You Need to Know

Some disgruntled Nigerian users of the cryptocurrency exchange Binance have launched a campaign to boycott the platform, which they accuse of freezing client accounts without valid reason. Accounts Blocked Cryptocurrency exchange platform Binance recently became the target of a boycott campaign initiated by disgruntled users in Nigeria. Using the hashtag #Binancestopscamming, the campaigners are urging other Binance users around the African continent to join them in registering their displeasure with the exchange. According to a report in the Premium Times newspaper, the users’ anger towards Binance stems from apparent changes made to the platform’s terms of use which have resulted in certain users losing access to their funds. Similarly, on Twitter, frustrated users shared their experiences with the exchange and how efforts to get their issues resolved have proved to be in vain so far. For instance, one user named Brown-Mi alleges that Binance blocked his account and therefore h...

A member of the Brussels Parliament, Christophe De Beukelaer, says he will receive his entire salary in bitcoin this year. He believes that the technology will disrupt all industries and crypto adoption is going to be “exponential.” Belgian MP Says He Will Receive Entire Salary in Bitcoin — ‘We Can No Longer Remain Ignorant of This New World’ Christophe De Beukelaer, a member of the Brussels Parliament, said in a blog post on his personal website that he will receive his 2022 salary in bitcoin. The lawmaker explained that “with the blockchain, we are at the dawn of a revolution of the same order as what we experienced with the internet 30 years ago.” He believes that all sectors “will be disrupted,” adding that in other countries, “large institutions are beginning to invest massively in crypto assets in order not to miss this gigantic opportunity.” Noting that “it is the role of politicians to make the population aware of these societal changes that are coming,” he stressed: We ...

Finder’s panel of 33 fintech specialists has forecasted that the price of bitcoin will peak at about $94K before ending the year above $76K. In addition, the panel expects the price of the cryptocurrency to reach $192,800 in 2025 and $406,400 in 2030. Finder’s Experts Predict BTC Price for 2022, 2025, and 2030 Finder, a major product comparison website, published an updated bitcoin price prediction Wednesday for 2022 by “Finder’s panel of 33 fintech specialists.” According to the panel’s BTC price forecasts: Bitcoin ( BTC ) is expected to peak at US$93,717 this year before dropping to $76,360 by the end of 2022 … This is roughly 60% higher than the price of bitcoin at the beginning of 2022. The panel of specialists also predicted the price of bitcoin for 2025 and 2030. However, their most recent predictions are lower than their October forecasts. At the time of writing, the price of bitcoin is $36,311.13 based on data from Bitcoin.com Markets. By the end of 2025, the panel ...

American Express (Amex) sees cryptocurrency as an asset class, according to CEO Steve Squeri. He added that right now, the firm does not see crypto as an immediate or medium-term threat to its business. American Express CEO Discusses Crypto Strategy The chairman and CEO of American Express (Amex), Steve Squeri, answered some questions regarding cryptocurrency during the company’s Q4 earnings call Tuesday. Squeri said: “As far as cryptocurrency goes, we watch cryptocurrencies … We think about the spectrum of digital currencies. We think about crypto. We think about stablecoins. We think about central bank digital currency [CBDC].” The CEO continued: At this particular point in time, we view cryptocurrency more as an asset class. Regarding crypto’s use as currency for payments, he said, “that’s a hard thing to utilize that way.” The American Express executive further noted: “And as far as blockchain, we’ve got investments in blockchain companies … We constantly look at blockchai...

The founder of Barstool Sports blog, Dave Portnoy, announced he purchased 29 bitcoin on January 28, spending more than a million dollars. The day trader has had his ups and downs with bitcoin over the last few years, and it seems he’s now jumping back into the market. Day Trader Dave Portnoy Bought 29 Bitcoin on the Fly After His Ups and Downs With the Leading Crypto In August 2020, the stock trader and the founder of Barstool Sports blog, Dave Portnoy, told his Twitter followers that he currently owned “zero bitcoins.” “I will wait and watch,” the day trader wrote at the time. “I lost 25K. Just like with the stock market it took my brain time to figure it out. I know this. The Link Marines are weak and the orchid flowers do die in the crypto world. I may or may not be done,” Portnoy added. Earlier in the day, Portnoy seemed very irritated with cryptocurrency markets and stressed in a video : This Bitcoin — I don’t trust this market at all. I may be out of it by the end of today,...

Al Fardan Exchange, a money transfer firm, has joined up with Ripplenet in a deal that will see the company use the Ripplenet blockchain when sending funds across national borders. Al Fardan’s Reasons for Joining Ripple A United Arab Emirates (UAE)-based money transfer platform, Al Fardan Exchange, has partnered with Ripple in a deal in which the remittances firm will use the latter’s blockchain to send funds across borders in real-time. According to a report in The National News, Al Fardan will become part of the Ripplenet Cloud, the blockchain firm’s cloud-based global financial network. In his comments following an announcement of the agreement, the money transfer firm’s chief executive, Hasan Al Fardan, explained why his company went into this partnership. He said: We are well into a digital future and payments powered by technology, which is becoming key in the region. This partnership underscores our commitment to offering new channels and opportunities for people to remit...

PRESS RELEASE. LetsExchange.io , an instant cryptocurrency exchange platform, reports the tremendous growth it has achieved since its launch in early 2021. In March 2021, the platform had 6,000 active users from 20 countries. At the time, users could swap 200 digital coins and tokens, accounting for more than 40,000 crypto pairs. The figures in December 2021 speak volumes about the growth of this platform: 120,000 supported crypto pairs (3x increase) 350,000 monthly active users (60x increase) 170 countries served (8.5x increase) With 350 cryptocurrencies available and the massive growth of its community, LetsExchange increased the number of swaps per month by 100 times as of December 2021. This achievement has positioned LetsExchange as one of the leading non-custodial exchanges worldwide. The platform’s rapid development is in great part due to the approach to crypto exchange that LetsExchange has taken. It doesn’t require registration or KYC checks. Users can exchange unli...

Reddit, one of the largest micro-posting sites on the internet, is reportedly venturing further into the world of non-fungible tokens (NFTs). The company is testing a new functionality that allows users to set NFTs as profile pics, something Twitter is already doing now. Reddit released its own batch of NFTs, called Cryptosnoos, in June 2021, albeit via a limited release. Reddit to Delve Further Into NFTs Reddit, one of the leading micro-posting sites on the internet, is reportedly testing NFT-related functionality on its platform. According to Techcrunch , the company is testing a feature that will allow its users to set NFTs as profile pics on the platform. The announcement was made by Reddit spokesperson Tim Rathschmidt, who stated: We’re always exploring ways to provide value for users and communities on Reddit. At the moment we’re testing the ability to use NFTs as profile pictures (avatars) and verify ownership. Rathschmidt further stated that this is a small, internal tes...

The president of Turkey, Recep Tayyip Erdoğan, has reportedly instructed the country’s ruling party to conduct a study on cryptocurrency and the metaverse. “It is a sensitive subject, a good and meticulous study should be done,” said President Erdoğan. Turkish President Wants the Ruling Party to Study Crypto and the Metaverse Turkish President Recep Tayyip Erdoğan reportedly discussed cryptocurrency and the metaverse at the Justice and Development Party’s central executive board meeting held Tuesday under his chairmanship. The Justice and Development Party (AK Party) is the largest party in Turkey, and President Erdoğan is its current leader. During the meeting, President Erdoğan directed the AK Party to analyze new developments, including cryptocurrency and the metaverse, local media reported Wednesday. He also instructed the party members to organize a forum to focus on these areas. President Erdoğan reportedly said at the meeting: It is a sensitive subject. A good and meticul...

Lloyd Blankfein, a former Goldman Sachs CEO who is now the firm’s senior chairman, says his view on cryptocurrency is evolving. “I look at the crypto, and it is happening,” he added. Goldman Sachs Executive Lloyd Blankfein Says Crypto ‘Is Happening’ Lloyd Blankfein, a former Goldman Sachs CEO who has voiced skepticism about cryptocurrency in the past, said in an interview with CNBC this week that his view on crypto is “evolving.” Blankfein served as Goldman Sachs’ chairman and chief executive officer from 2006 through September 2018, and remained chairman through December 2018. He is now senior chairman of the Goldman Sachs Group. He was asked whether his view on cryptocurrency has changed given the current market condition and traditional banks, including Goldman Sachs, starting to offer crypto services, such as trading and custody. The Goldman executive replied: Look, my view of it is evolving … I can’t predict the future, but I think it’s a big thing to be able to predict th...

A special agent with the Internal Revenue Service (IRS) says the tax agency is “seeing mountains and mountains of fraud” in the cryptocurrency space. The IRS criminal investigation unit is trying to train all of its agents on crypto and non-fungible token (NFT) issues because “this space is the future,” he stressed. IRS Special Agent Says Crypto Is Rife With ‘Mountains and Mountains of Fraud’ A special agent in charge of the IRS’ criminal investigation division in Los Angeles, Ryan Korner, talked about cryptocurrency at a virtual event hosted by the USC Gould School of Law Tuesday. He was quoted by Bloomberg as saying: We’re just seeing mountains and mountains of fraud in this area. He explained that non-fungible tokens (NFTs) and crypto in general are prone to market manipulation, adding that high-profile individuals could influence crypto prices with just one tweet. Noting that celebrities are not immune to the tax authority’s criminal probes, the special agent clarified: “We...

Equities, crypto markets, and precious metals did well during the early morning trading sessions on Wednesday, just before the U.S. central bank wrapped up its Federal Open Market Committee (FOMC) meeting. While the Fed said in a statement that the benchmark interest rate would rise soon, the central bank’s lead Jerome Powell said the committee “is of a mind to raise the federal funds rate at the March meeting.” Powell’s statements following the meeting, alongside discussions of reducing the balance sheet, were viewed as hawkish among investors and global markets dipped in value. FOMC Says It Plans to Raise the Federal Funds Rate ‘Soon,’ Fed Chair Jerome Powell Insists Rates Will Change in March Following a week of dismal markets, the highly anticipated Federal Open Market Committee (FOMC) meeting took place, and members of the committee unanimously approved the decision to keep rates at near-zero levels. “With inflation well above 2 percent and a strong labor market, the Committe...

The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity. Power Utility Takes Crypto Miners to Court Irkutskenergosbyt, the local power distributer in Irkutsk Oblast, has filed 137 lawsuits against customers using subsidized electricity to mint digital currencies in mining facilities set up in basements and garages. Taking the cases to court, the utility hopes to recover 63 million Russian rubles (over $790,000) in compensation, Tass reported quoting its director, Andrey Kharitonov. The company says these home miners are engaged in entrepreneurial activities while paying for their electricity at the tariffs for the population, which are four times lower than commercial rates. The owners of the underground crypto farms are also increasing the lo...

PRESS RELEASE. Not too long ago, Dvision Network had successfully initiated their LAND sale, and now it is time for the second sale to commence as the first month of 2022 nears its end. On January 27th, 11:00 AM UTC, the Polygon Ecosystem will witness the Dvision’s second LAND Sale via Dvision Marketplace and the NFT marketplace known as OpenSea . The NFTs, which are key units for the initiative’s Meta-Cities, shall be distributed fairly for sale through the native Dvision Marketplace and OpenSea via the Polygon Ecosystem. Moreover, the ERC-721 compliant LAND NFTs will be minted on the Polygon Mainnet in addition to all ecosystem-related operations taking place in their native chain-supported marketplaces. Furthermore, the team will continue to integrate Polygon Partners through a mutual LAND NFT Grant Program that will provide increased access and exposure to the metaverse through the allocation of LAND NFTs. The first project to receive the grant LAND NFT is Project Galaxy – ...

The leader of the Nigerian blockchain association, Senator Ihenyen, has implored the country’s lawmakers — currently pushing for the securities law to be revamped — to consider crafting laws that regulate the crypto industry. Proposed Law Does Not Expressly Mention Cryptocurrencies As Nigerian lawmakers debate a bill that proposes a ten-year jail term for operators of Ponzi schemes, a leader of a Nigerian blockchain lobby group, Senator Ihenyen, has urged the country’s lawmakers to consider crafting a law to govern the cryptocurrency industry. He argued that an “unregulated crypto space is not in anyone’s best interest.” Ihenyen, who heads the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), however, concedes that while the proposed bill does not expressly mention or refer to digital currencies, crypto Ponzi schemes are included in what the lawmakers call “prohibited schemes.” The remarks by the leader of SIBAN follow reports that Nigerian lawmakers had passed...

Elon Musk’s electric car company, Tesla, did not sell any bitcoin in the fourth quarter, according to the company’s latest financial statement. Tesla is holding bitcoin worth $1.26 billion. The company still has not resumed accepting bitcoin payments but now accepts the meme cryptocurrency dogecoin (DOGE) for some merchandise. Tesla Did Not Sell Bitcoin in Q4 Tesla released its Q4 and FY2021 financial statements Wednesday. The company’s unaudited balance sheet shows net digital assets of $1.26 billion at the end of December last year. This amount is unchanged from the third quarter . Tesla’s unaudited statement of cash flows also shows that there was no purchase or sale of digital assets in the last three quarters. The only cryptocurrency purchase Tesla made was bitcoin in the first quarter in the amount of $1.5 billion. The only sale the company made was also in the first quarter. While Tesla never disclosed how much bitcoin it owns, Musk previously hinted that it is close to 42...

Ripple has bought back shares from its Series C funding round, which raised the company’s valuation to $15 billion, according to CEO Brad Garlinghouse. He added that despite the lawsuit by the U.S. Securities and Exchange Commission (SEC) over the status of XRP cryptocurrency, Ripple had the best year on record. Ripple’s $15 Billion Valuation and ‘Best Year on Record’ Ripple CEO Brad Garlinghouse announced via Twitter Wednesday that Ripple has bought back its Series C shares at a $15 billion valuation. The CEO described that “Even with 2021’s headwinds, it was our best year on record,” adding that Ripple’s financial position is the strongest it has ever been, with $1 billion dollars in the bank. In December 2019, the company raised $200 million in the Series C funding round, led by Tetragon. SBI Holdings and Route 66 Ventures also participated. According to reports, the company’s valuation was $10 billion after the Series C funding round. Noting that “slow down” is not in Rippl...

PRESS RELEASE. As the new year gets underway, there has been a lot of speculation and interest regarding what role the metaverse, crypto and VR (Virtual Reality) will play going forward. After all, our society is becoming increasingly digitised and the COVID-19 global pandemic is still very much ongoing. As a result, there is a clear need for everyone to continue to live their lives but in a vastly different way than before, and that is exactly where Ariva Digital comes into play. Understanding Ariva Simply put, Ariva can be thought of as an innovative blockchain platform which intends to solve the inefficiencies of the tourism industry by providing a next-generation blockchain-based ecosystem. It essentially wishes to influence the tourism sector by combining cutting-edge goods, services and products into its ecosystem. This is divided into many important categories, according to the official whitepaper , including Ariva.World, Ariva.Finance, Ariva.Club, and finally the Ariva Me...

Indonesia’s Financial Services Authority (OJK) has prohibited financial firms from using, marketing, and/or facilitating crypto trading. The financial regulator also cautioned the public to always beware of fraudulent Ponzi schemes under the guise of crypto. Indonesian Regulator’s Crypto Warning Indonesia’s Financial Services Authority (OJK), the Jakarta-based government agency which regulates the financial services sector, warned Tuesday that financial firms are not allowed to offer or facilitate sales of crypto assets. The warning was conveyed by the chairman of the OJK Board of Commissioners, Wimboh Santoso, on the regulator’s official Instagram account. The OJK was quoted by Reuters as saying: OJK has strictly prohibited financial service institutions from using, marketing, and/or facilitating crypto asset trading. The regulator also cautioned the public when investing in crypto assets. “Crypto assets themselves are a type of commodity that has fluctuations in value which c...

The Trump family has threatened legal action over trumpcoin, a cryptocurrency created in 2016 “to honor Donald J. Trump.” Eric Trump said that the crypto has nothing to do with the Trump family. “We do not authorize the use and we are in no way affiliated with this group. Legal action will be taken,” he said. Trump Family Threatens Lawsuit Over Trumpcoin Eric Trump, a son of the former president and a Trump Organization executive, tweeted about cryptocurrency trumpcoin Monday. “Fraud Alert: It has come to our attention that someone is promoting a cryptocurrency called ‘trumpcoin’ (Symbol ‘TRUMP’),” he wrote, adding: This has nothing to do with our family, we do not authorize the use and we are in no way affiliated with this group. Legal action will be taken. According to the Trumpcoin website, the cryptocurrency was created in February 2016 “in order to honor Donald J. Trump.” Trumpcoin has a market cap of about $1.3 million. At the time of writing, its price is about $0.26. T...

Tesla CEO Elon Musk says that he will eat a happy meal on television if McDonald’s accepts the meme cryptocurrency dogecoin (DOGE). However, McDonald’s replied, “only if Tesla accepts grimacecoin.” Musk’s statement followed a tweet by McDonald’s asking how crypto Twitter is doing. Elon Musk Tries to Tempt McDonald’s to Accept Dogecoin Tesla and Spacex CEO Elon Musk offered to eat a McDonald’s happy meal on television if the fast-food restaurant chain accepts dogecoin (DOGE) in a tweet Tuesday. At the time of writing, his tweet has been retweeted 34.3K times and liked 229.1K times. Many people expressed their excitement on Twitter, promising that they will eat at McDonald’s more often if the restaurant chain accepts DOGE. Some said they will only pay at McDonald’s with the meme coin if that happens. A few people asked McDonald’s to consider accepting other coins, like shiba inu (SHIB). The price of DOGE pumped slightly after Musk’s tweet. The price of dogecoin was $0.1359 at that...

The mayor of New York City, Eric Adams, converted his first paycheck into bitcoin and ether before the price of the cryptocurrencies plummeted. However, the mayor said, “When you are a long-term investor, you don’t keep your eyes on your portfolio.” He added that the purpose of receiving a paycheck in bitcoin is to send a message that New York City is open to technology. NYC Mayor Converted Paycheck Into Bitcoin and Ether Before Prices Tanked New York City Mayor Eric Adams answered some questions in an interview with CNN Sunday about receiving his first paycheck in bitcoin just before the price of the cryptocurrency sank. Adams recently converted his first paycheck into bitcoin and ether via Coinbase. He promised to take his first three paychecks in bitcoin. He was asked if he had any regrets about converting his paycheck into cryptocurrency before prices crashed. The mayor replied: It’s the same when I invested in the stock market in my 401k. We saw a drastic drop during 2018...

Grayscale, the world’s largest crypto asset manager, is considering 25 more crypto assets for investment products. With the latest additions, the company’s list of coins under consideration has grown to 43. “The process of creating an investment product similar to the ones we already offer is a complex, multifaceted process,” said Grayscale. 25 Crypto Assets Added to List of Coins Under Consideration for Grayscale’s Investment Products Grayscale Investments announced Monday that it has updated its list of digital assets under consideration for 2022. Grayscale currently has $30.6 billion in net assets under management. The company explained that the “Assets Under Consideration” list comprises “some digital assets that are not currently included in a Grayscale investment product, but that have come to our attention as part of our exploration of this sector, and that our team has identified as possible candidates for inclusion in a future investment product.” Grayscale detailed: Wit...

The software behemoth Google has reportedly started a new blockchain-based division inside its Labs group. The division will also deal with other distributed computing and data storage technologies. While the company has been wary of associating with any form of cryptocurrency, Bill Ready, Google’s president of commerce, stated on January 19 they were paying a lot of attention to the area. Google Goes Blockchain Google, one of the biggest software companies in the world, is reportedly launching a new blockchain division as part of its Labs group. The blockchain division will be led by Shivakumar Venkataraman, an engineering vice president for Google. The division will focus on “blockchain and other next-gen distributed computing and data storage technologies,” according to an email obtained by Bloomberg. While the company has been involved in certain blockchain projects, it has been very wary of being associated with any cryptocurrency in particular. The new blockchain division wi...

PRESS RELEASE. INTERNET CITY, DUBAI, Jan. 25 2022 – LBank Exchange, a global digital asset trading platform, will list ADENE (ADEN) on January 27, 2022. For all users of LBank Exchange, the ADEN/ USDT trading pair will be officially available for trading at 18:00 (UTC+8) on January 27, 2022. The gambling industry has become an empire that is owned by some powerful bodies (centralized casino system) who are solely making profits only for themselves. As the first fully decentralized game system of the 4th generation, ADENE (ADEN) is here to disrupt the gambling culture, end this monopoly, and create its own realm of gambling to bring back equality and justice to the gambling industry. Its utility token ADEN will be listed on LBank Exchange at 18:00 (UTC+8) on January 27, 2022, to further expand its global reach and help it achieve its vision. Introducing ADENE As the first fully decentralized gambling system of the 4th generation, ADENE gives its community access to possibilities...

Myanmar’s military-ruled government is proposing to enact laws that will see users of virtual private networks (VPN) and digital currencies being jailed for up to three years. In addition, offenders will be made to pay fines of up to $2,800. Draft Bill Open for Comments Myanmar’s military-ruled government is proposing to enact a law that outlaws the use of virtual private networks (VPN) and digital currencies in that country. Once enacted, violators of the new law not only face jail time but will be made to pay a fine. According to a report published by The Register, individuals caught using VPNs will face a possible jail sentence of between one and three years. In addition, offenders may also be asked to pay a fine of $2,800 or five million Myanmar Kyats. Digital currency users, on the other hand, face a minimum jail term of six months and a maximum of up to one year. They will also be liable to pay fines of up to $2,800. Besides targeting digital currency and VPN users, the mil...

Global investment bank Goldman Sachs has predicted that the metaverse could be an $8 trillion opportunity. Several others have similarly predicted that the metaverse is a multitrillion-dollar market. Goldman Sachs Says the Metaverse Could Be an $8 Trillion Opportunity Global investment bank Goldman Sachs has predicted that the metaverse could be an $8 trillion opportunity. Goldman Sachs’ analyst Eric Sheridan explained the bank’s metaverse prediction in a recent “Exchanges at Goldman Sachs” episode, titled “Understanding the metaverse and web 3.0.” He was asked about the evolution of the metaverse ahead and how big the potential opportunity could be. The analyst replied: We think this could be as much as an $8 trillion opportunity on the revenue and monetization side. “We look at the digital economy today, which is roughly about 20%, 25% of the global economy … We see the digital economy continuing to grow, and on top of that we see a virtual economy that will grow within and a...