Bitcoin News and Finance: What You Need to Know

Ricardo Salinas Pliego, president of the Salinas Group, owner of the Elektra Group stores, hinted at the possibility of the shops selling bitcoin. The executive stated that due to the regulations of the Central Bank of Mexico, his company cannot implement cryptocurrency integration in the Azteca Bank app. However, he did point out that Elektra could sell bitcoin as it is a commercial institution. Ricardo Salinas Criticizes Mexico’s Crypto Regulations Ricardo Salinas Pliego, one of the richest men in Mexico and president of the Salinas Group, mentioned the possibility of selling bitcoin in his popular Elektra Group department stores. The remarks were made in a recent Tiktok video , where Salinas commented about the difficulties of including bitcoin in different services due to the regulations of the Bank Of Mexico. On this, Salinas stated: The issue with the Banco Azteca app is that the regulatory pundits won’t let us, the Bank of Mexico won’t let us, but they’re all of them. The M...

PRESS RELEASE. Zug, Switzerland — Ambrosus Core, the technical foundation of Ambrosus Ecosystem , has announced the launch of a substantial developer funding program — $10 million for developers deploying decentralized finance (DeFi) applications and other decentralized solutions on the Ambrosus blockchain. Ambrosus is a fully operational Layer 1 EVM-compatible blockchain protocol providing scalability, zero-knowledge proof data security, and unique built-in data storage capacity. In order to support network growth and expand its user base, Ambrosus Core is launching a developers funding initiative. DeFi on Ambrosus has recently seen an all-time high in total value locked (TVL) of over 310 million AMB as a result of its newly launched staking platform. As of today, the foundation is accepting applications for its grant program open to new contributors looking to build dApps, NFTs, and DAOs on AMB-NET. Any developer or entrepreneur can now apply for funding to create scalable solut...

On Tuesday, the U.S. Department of Justice (DOJ) arrested two individuals that are accused of an “alleged conspiracy to launder” 94,636 bitcoins stolen from Bitfinex in 2016. Interestingly, both of the suspects are known individuals within the tech industry as Ilya Lichtenstein was the co-founder of Mixrank, a Y-Combinator backed startup and Heather Morgan was a writer for Forbes. The Myriad of Mysterious Bitcoin Transfers From the 2016 Bitfinex Hack The U.S. government announced the “largest cryptocurrency seizure to date” after the DOJ seized 94,636 bitcoins that were stolen in the August 2016 Bitfinex hack. On August 2, 2016, a hacker managed to breach Bitfinex and steal 120,000 bitcoin ( BTC ). Bitcoin’s price shuddered 24 hours after the breach losing 22% in USD value during the course of the aftermath. At first, Bitfinex talked about reimbursing customers with a bail-in haircut plan , which means traders would only get a fraction of losses. Two weeks later after the 120,000...

A former Bank of Thailand director has warned about an imminent crypto crash. “A cryptocurrency bubble will emerge at the end of March when liquidity in the financial market drops,” he reportedly predicted. Former Central Bank Director Warns Crypto Market Will Soon Crash Former Bank of Thailand (BOT) Director Anusorn Thammajai reportedly warned that the cryptocurrency market will crash in a couple of months, the Nation reported Sunday. The ex-central bank director cautioned: A cryptocurrency bubble will emerge at the end of March when liquidity in the financial market drops due to moves by central banks to taper quantitative easing and raise interest rates. He noted that the first wave of the crypto bubble has already passed and many cryptocurrencies lost more than 40% in value this year. The former Bank of Thailand director added that while cryptocurrency helps create a financial ecosystem in the digital economy, it also poses risks to financial systems. He further warned inv...

Switzerland’s largest bank, UBS, has suggested some investment strategies for investors seeking to gain exposure to crypto assets with less risk than investing directly in bitcoin, ether, or other cryptocurrencies. “There are several main ways investors can access this potential while avoiding the high volatility and regulatory risks of holding bitcoin or rival cryptos,” the UBS analysts explained. UBS’ Crypto Investing Advice The UBS Global Wealth Management team published a research note last week on alternative investments to directly holding cryptocurrencies. The bank’s analysts, led by UBS Chief Investment Officer Mark Haefele, explained that “direct exposure to cryptos is highly speculative.” They believe that bitcoin’s recent fall from a record high in November last year “has undermined two of the most common defenses of the asset class.” The UBS report details: “The first is that it provides an effective form of diversification from traditional financial assets, such as eq...

A new report by one of the Big Four accounting firms, KPMG, reveals that investment in the crypto and blockchain space grew 5.5 times the previous year to more than a record $30 billion in 2021. KPMG called 2021 a “Blockbuster year for crypto and blockchain.” ‘Blockbuster Year for Crypto and Blockchain’ KPMG published a report Monday on investments in the cryptocurrency, blockchain, and fintech space. Noting that global fintech reached $210 billion last year, the Big Four accounting firm wrote: “We saw growing deal sizes in a wide variety of fintech subsectors — from crypto and blockchain to wealthtech and cybersecurity.” Describing 2021 as a “Blockbuster year for crypto and blockchain,” KPMG detailed: Investment in the crypto and blockchain space soared in 2021, rising from $5.4 billion in 2020 to over $30 billion. “Globally, there was an incredible increase in the level of recognition for the potential role of crypto and its underlying technologies in modern financial system...

Saudi Arabia’s King Faisal Specialist Hospital and Research Centre recently became one of the country’s early adopters of blockchain technology after it implemented a “digital credentialing solution.” Saudi Arabia’s Blockchain Goal The Saudi Arabian medical institution, King Faisal Specialist Hospital and Research Centre, (KFSHRC) recently completed a deployment of blockchain tech when it implemented “a digital credentialing solution” for all patients that use its facilities. The implementation was carried out via the recently launched Blockchain Lab which has already identified several viable use cases for the technology. As a result of the deployment of this solution, the hospital can now publish digital certificates directly on the blockchain where they can be verified by residents. The deployment of this solution, according to a statement released by the hospital, aligns with Saudi Arabia’s goal of building blockchain know-how as well as the adoption of this technology in heal...

On February 8, the subsidiary of Animoca Brands and the decentralized gaming virtual world project, The Sandbox, announced the company has partnered with the French video game company Ubisoft. According to the announcement, Ubisoft will have its own land in the virtual metaverse, and the world will begin by featuring voxelized versions of Rabbids’ characters. The Sandbox Partners With Ubisoft, Multimedia Game Franchise Owner to Bring IP Elements to the Sandbox Gaming Metaverse Ubisoft and the Rabbids are coming to the blockchain-based virtual world The Sandbox, according to an announcement from the company. The gaming giant Ubisoft is well known for its multimedia franchises including Assassin’s Creed, Far Cry, Tom Clancy’s, Prince of Persia, Rabbids, and Rayman. The Sandbox says the project has “strategically partnered with Ubisoft to introduce Ubisoft game IP elements to The Sandbox gaming metaverse.” To start, Ubisoft is bringing characters from the franchise Rabbids, a spin-o...

PRESS RELEASE. Dvision Network’s second LAND sale has now been successfully conducted on the Polygon Mainnet. As a matter of fact, all 4650 LAND NFTs offered on the primary sale had been sold out at an incredibly fast pace, sealing the successful sold out both on Dvision Marketplace as well as OpenSea . The original first LAND sale had occurred not too long ago, and it was similarly successful, which became the largest LAND NFT Sale to occur on Binance Smart Chain’s history, completing the LAND Sale on Binance NFT, Dvision Marketplace and NFTb in less than 5 minutes. Building upon that success, the second sale saw plenty of action from buyers and investors who were all eager to partake as soon as the sale officially started on January 27th, 2022, at 11:00 AM UTC. It should be noted, that secondary trading on OpenSea is continuously occurring, with the floor price for the most common LAND NFT being traded at x2 from the original price, and the total volume currently exceeding 3...

Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity. Mining Companies in Kazakhstan Expected to Pay Much More to the State Government officials in Kazakhstan are debating over new legislation for the cryptocurrency industry. The authors of a draft law “On Digital Assets in the Republic of Kazakhstan” have covered certain matters that concern the growing crypto mining sector, local media reported. Quoted by Kazinform, First Deputy Minister of Finance Marat Sultangaziyev noted at a recent meeting of an interdepartmental commission that mining activities are now subject only to registration , but more rules are to come. He also emphasized that it’s very difficult to identify underground miners who consume a lot of electricity illegally. Kazakhstan has been tr...

India’s finance minister, Nirmala Sitharaman, has reportedly revealed that the government is “constantly monitoring” and “watching the crypto sector.” Referring to her budget speech, she noted that crypto taxation will be implemented before the central bank, the Reserve Bank of India (RBI), issues its digital currency. Indian Finance Minister on Monitoring Crypto Sector and RBI’s Digital Currency Launch India’s finance minister, Nirmala Sitharaman, has revealed that government officials are constantly monitoring the crypto sector, India Today reported Monday. Speaking at India Today Budget Roundtable 2022 on the “State of India’s Economy: The Final Word,” she was quoted as saying: We have a team of people who are constantly monitoring, watching the crypto sector and listening to people from that area. They are giving me feedback. In addition, the finance minister said that the Reserve Bank of India (RBI) is working on issuing India’s central bank digital currency (CBDC), the di...

Crypto exchange FTX is giving away bitcoin during the Super Bowl this weekend. The company estimates that each winner could receive between eight and 10 bitcoins. The actual prize amount depends on the time FTX’s Super Bowl commercial airs. FTX Giving Away Bitcoin in Super Bowl Sweepstakes Cryptocurrency exchange FTX announced Monday that it is giving away bitcoin during the Super Bowl this weekend. The company’s website explains: We’re making our Big Game debut and giving away the time our ad runs in bitcoin. Super Bowl LVI, the upcoming championship game of the National Football League (NFL), will be played between the National Football Conference Champion Los Angeles Rams and the American Football Conference Champion Cincinnati Bengals. “When the ad airs, we’ll tweet the commercial and pin the tweet. To enter, follow us and retweet that pinned tweet on our @FTX_Official Twitter account between the time it airs and 11:59 p.m. EST,” FTX detailed, adding that no purchase is nec...

The U.S. Federal Deposit Insurance Corporation (FDIC) has named the evaluation of crypto assets a priority this year. “The rapid introduction of a variety of crypto-asset or digital asset products into the financial system could pose significant safety and soundness and financial system risks,” the FDIC said. Crypto Evaluation Named a Priority for FDIC The U.S. Federal Deposit Insurance Corporation (FDIC) announced Monday that Acting Chairman Martin J. Gruenberg has released the FDIC’s priorities for the coming year. The FDIC is an independent agency created by the U.S. Congress to maintain stability and public confidence in the nation’s financial system. One of the priorities is to “evaluate crypto-asset risks,” the announcement details, elaborating: The rapid introduction of a variety of crypto-asset or digital asset products into the financial system could pose significant safety and soundness and financial system risks. “It is imperative that the federal banking agencies c...

The first real estate purchase with Bitcoin has been registered in Colombia last week. The company, called La Haus, sold one property in Santa Marta to a buyer that was not in Colombia at the time of the purchase. While Colombia is just starting to consider bitcoin for real estate payments, in neighboring countries like Venezuela, it is becoming more common to use crypto for such transactions. Colombia Debuts Real Estate Purchases With Crypto The real estate sector in Colombia has reached a milestone when it comes to cryptocurrency usage, after registering its first purchase with bitcoin. La Haus, an online real estate company, mediated in this purchase after having received a reserve payment for 0.03 BTC a month ago. The purchase was recently completed by a buyer that was not in Colombia, so the operation was completed using Lightning Network through Opennode, a payment processor. The purchase comes roughly one month after the company announced it would accept bitcoin for reser...

PRESS RELEASE. INTERNET CITY , DUBAI, Feb. 8, 2022, LBank Exchange, a global digital asset trading platform, will list FutureCoin (FUTURE) on February 9th, 2022. For all users of LBank Exchange, the FUTURE/ USDT trading pair will be officially available for trading at 16:00 (UTC+8) on February 9th, 2022. The digital currency market is growing rapidly, along with the platforms and technology surrounding it, but most of the traded coins have lost their practical utility on the market and in people’s lives. To address this problem, FutureCoin (FUTURE) is here to provide a truly efficient, more secure and much faster coin that can be used in everyday life, with solid projects that back it up. The FUTURE token will be listed on LBank Exchange at 16:00 (UTC+8) on February 9th, 2022, to further expand its global reach and help it achieve its vision. Introducing FutureCoin FutureCoin is a project for creating a more stable, promising and safer virtual coin than those already on the mar...

Cryptocurrency and blockchain firms are concerned about the future legislation revolving around the cryptocurrency industry and money spent on lobbying cemented this fact. A recently published study indicates that money spent on crypto lobbying jumped 116% in 12 months with $9.56 million leveraged to seek to influence from politicians and public officials. Millions of Dollars Were Spent on Crypto Lobbying and Interest Representation in 2021 While the digital currency and blockchain industry has matured a great deal, a number of crypto advocates are concerned about regulation and politicians misunderstanding an innovative technology. This month researchers from cryptohead.io published a study that highlights crypto lobbying in 2021. In U.S. politics, the act of persuading bureaucrats into interest representation is lawful, and lobbyists are found in nearly every American industry. Cryptohead.io study written by James Page shows the California-based financial services company Robin...

A U.S. senator has warned about China’s central bank digital currency. “Analysts have raised the eCNY’s potential to subvert U.S. sanctions, facilitate illicit money flows, enhance China’s surveillance capabilities, and provide Beijing with ‘first mover’ advantages,” the senator informed Treasury Secretary Janet Yellen. U.S. Senator Warns About the Threat From China’s Central Bank Digital Currency U.S. Senator Pat Toomey sent a letter to Treasury Secretary Janet Yellen and Secretary of State Tony Blinken last week raising concerns about China’s central bank digital currency, the digital yuan. “I write to request your engagement on a momentous development in Beijing this week: the rollout of the world’s first major central bank digital currency (CBDC) to a foreign audience,” he told Yellen and Blinken. “While the United States is still evaluating the concept of a digital dollar, China is using the Beijing Winter Olympics as an international test for the digital yuan (eCNY), which h...

KPMG in Canada has added bitcoin and ether to its corporate treasury in what the company called a “first-of-its-kind investment.” KPMG said: “This investment reflects our belief that institutional adoption of crypto assets and blockchain technology will continue to grow and become a regular part of the asset mix.” Bitcoin and Ether on Balance Sheet of KPMG in Canada KPMG in Canada announced Monday the company’s “first-of-its-kind investment.” KPMG is one of the Big Four accounting firms. The announcement details: KPMG in Canada has completed an allocation of crypto assets to its corporate treasury, the firm’s first direct investment in crypto assets. “The allocation includes bitcoin ( BTC ) and ethereum ( ETH ), as well as carbon offsets to maintain a net-zero carbon transaction to deliver on the firm’s stated environmental, social and governance (ESG) commitments,” KPMG detailed. The accounting firm acquired bitcoin and ether on its balance sheet through Gemini Trust Company L...

Elon Musk’s electric car company, Tesla, has filed an annual report with the U.S. Securities and Exchange Commission (SEC) showing bitcoin holdings with a fair value of almost $2 billion at the end of December. The company sees crypto as both an investment and liquid alternative to cash. Tesla Has $2 Billion in Bitcoin Tesla filed an annual report with the U.S. Securities and Exchange Commission (SEC) Friday. “We continue adapting our investment strategy to meet our liquidity and risk objectives, such as investing in U.S. government and other marketable securities, digital assets and providing product-related financing,” the company wrote, adding: The fair market value of our bitcoin holdings as of December 31, 2021, was $1.99 billion. The report explains that Tesla bought $1.5 billion worth of bitcoin in early 2021 and later accepted the cryptocurrency as a form of payment for certain products in some regions. However, the electric car company suspended accepting BTC in May l...

Cryptocurrency exchange Binance has warned investors of a “massive phishing scam via SMS.” The scammers sent SMS messages to crypto users informing them of a withdrawal request from an unknown IP address they may want to cancel. Massive Phishing Scam Targeting Crypto Investors Binance CEO Changpeng Zhao (CZ) tweeted Friday: There is a massive phishing scam via SMS with a link to cancel withdrawals. It leads to a phishing website to harvest your credential as in the screenshot below. According to the Binance boss, scammers sent SMS messages to cryptocurrency investors stating that a withdrawal has been requested from an unknown IP address. The message then asks investors to click a link to cancel the withdrawal request. However, the link leads to a phishing website that will attempt to steal credentials from investors. The Binance CEO further advised that users should always go directly to the Binance website via a bookmark or type the URL into the browser. He stressed: Never...

PRESS RELEASE. The world of e-commerce is rapidly transitioning to that of social commerce, where demand for products is driven by videos and posts from social media. Both brands and their consumers can benefit from advertising products through social media, with stronger sales and valuable insights into product use cases, which further encourage online shopping. Video commerce already accounts for 10% of Chinese e-commerce – a trend that is already making its way to the West. That’s why we are thrilled to be hosting the seed sale of Meloot ($LADA) on the KICK.IO launchpad . Meloot is the first decentralized e-commerce platform on the Cardano blockchain, powered by its native utility token $LADA. You can think of Meloot as Amazon driven by TikTok, where e-commerce capabilities are utilised in synergy with video-based shopping, and Meloot algorithm connects people to the brands they like through an interactive medium. Meloot offers a platform for the sale and purchase of physical ...

Nike has filed a lawsuit against an online reseller using unauthorized Nike shoe images in non-fungible tokens (NFTs). “Those unsanctioned products are likely to confuse consumers, create a false association between those products and Nike, and dilute Nike’s famous trademarks,” Nike alleges. Nike Sues Online Retailer Over NFT Sales Sneaker giant Nike filed a lawsuit against online reseller Stockx in New York federal court last week for selling non-fungible tokens (NFTs) using unauthorized images of Nike shoes. Detroit-based Stockx, valued at more than $3.8 billion last year, began selling NFTs last month, Nike detailed, adding that the reseller has sold over 500 unauthorized Nike-branded NFTs. The sneaker giant further noted that Stockx told buyers they would be able to redeem the tokens for physical versions of the shoes “in the near future.” Nike claims that by minting “Vault” NFTs based mostly on popular Nike sneakers, Stockx is infringing upon and diluting its trademarks. Acc...

U.S. Senator Ted Cruz has declared his bitcoin purchase worth up to $50,000. “I’m also particularly proud that my home state, Texas, is becoming an oasis for the blockchain community, for bitcoin miners, for innovators and entrepreneurs in the crypto world,” said the senator. Senator Ted Cruz Declares Bitcoin Purchase U.S. Senator Ted Cruz has bought the bitcoin dip. A Periodic Transaction Report filed on Friday shows that the senator from Texas personally bought bitcoin worth between $15,001 and $50,000 on Jan 25. On the date of the transaction, the price of bitcoin was hovering around $37,000 based on data from Bitcoin.com Markets. At the time of writing, the price of bitcoin is $41,708. BTC is up 10.5% over the past seven days but down 4.2% over the last 30 days. The senator from Texas has long been a vocal bitcoin proponent. In June last year, he said that people are flocking to BTC because the U.S. is on the verge of an inflation crisis. In November last year, he introd...

Google has shared some details of its web3 and blockchain strategies. “As a company, we are looking at how we might contribute to the ecosystem and add value,” said Sundar Pichai, the CEO of Google and its parent company, Alphabet Inc. Google’s Web3 and Blockchain Strategies The CEO of Alphabet Inc. and its subsidiary Google, Sundar Pichai, shared some information on the group’s blockchain strategy during the company’s Q4 earnings call last week. Pichai was asked about his view on web3 and Alphabet’s approach to the industry. “Anytime there is innovation, I find it exciting,” the Google CEO began, elaborating: On web3, we are definitely looking at blockchain, and such an interesting and powerful technology with broad applications, so much broader, again, than any one application. “As a company, we are looking at how we might contribute to the ecosystem and add value,” he continued, adding: Just one example, our Cloud team is looking at how they can support our customers’ need...

The U.S. treasury department has warned that non-fungible tokens (NFTs) may present new illicit finance risks. According to industry estimates, the NFT market could reach $35 billion in 2022 and more than $80 billion by 2025. NFTs May Present Illicit Finance Risks The U.S. Department of the Treasury announced Friday the release of a “study on illicit finance in the high-value art market.” The study was mandated by Congress in the Anti-Money Laundering Act of 2020. “This study examined art market participants and sectors of the high-value art market that may present money laundering and terrorist financing risks to the U.S. financial system,” the Treasury wrote, adding: The emerging digital art market, such as the use of non-fungible tokens (NFTs), may present new risks, depending on the structure and market incentives. In order to combat the risks, the study recommends several options, including updating training for law and customs enforcement, enhancing private sector informa...

The federal government of Russia should be ready with different regulatory scenarios for the country’s crypto market by the end of next working week, documents from a recent meeting have indicated. The executive power in Moscow favors regulation over the prohibition of cryptocurrencies and related activities. Government Inclined to Legalize Rather Than Ban Cryptocurrency in Russia The Russian government, which is hosting the ongoing debate on the future of decentralized digital money in Russia, is going to produce alternative scenarios for crypto regulation by Feb. 11. The Russian business daily Kommersant broke the news, quoting documents from a meeting held at the White House in Moscow last week. The fate of cryptocurrencies in the country is likely to be decided by the outcome of a clash between two opposing views. While the Central Bank of Russia proposes a blanket ban on crypto-related activities such as issuance, exchange, and mining, the Ministry of Finance pushes for lega...