Bitcoin News and Finance: What You Need to Know

Amid ongoing hostilities with advancing Russian forces, Ukraine has been increasingly relying on cryptocurrency donations to solve humanitarian problems and finance its defense efforts. Crypto helps the country to receive and quickly distribute money and operate internationally, a high-ranking government official has indicated. Ukraine Accepts, Spends Millions in Crypto, Deputy Minister Reveals Since the Russian military assault started, Ukraine has been actively seeking financial support in the form of crypto donations . “It’s a very rapid way to get a payment — in times like that you can’t just wait for days to get money and then you have to distribute them,” the country’s Deputy Minister of Digital Transformation Oleksandr Bornyakov said in an interview. The official noted that the government in Kyiv set up a cryptocurrency fund in partnership with a major exchange right after the invasion began. “So money immediately started to go in. And so far we have collected more than $30 ...

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Malaysia’s deputy finance minister says that cryptocurrencies, such as bitcoin and ethereum, are not suitable as a means of payment or a store of value. While digital assets are not recognized as legal tender in Malaysia, the finance ministry official said that they are an asset class that can be invested in. Deputy Finance Minister on Cryptocurrency in Malaysia Malaysian Deputy Finance Minister Yamani Hafez Musa talked about cryptocurrency Thursday in reply to a question raised by parliament member Nurul Izzah Anwar in Dewan Rakyat, The Star reported. The parliament member asked about the government’s role in monitoring and regulating cryptocurrency. Noting that cryptocurrencies are not a payment instrument regulated by the central bank, Bank Negara Malaysia, the deputy finance minister said: Digital assets such as bitcoin and ethereum are not suitable to be used as a payment instrument … In general, digital assets are not a store of value and a good medium of exchange. “This ...

Veteran investor and fund manager Bill Miller explains why he thinks that it is currently “very bullish for bitcoin.” Miller noted that Russia has almost 50% of its reserves in currencies that are controlled by people who want to do them harm. Bill Miller’s Crypto Outlook: ‘It’s Very Bullish for Bitcoin’ Famed value investor Bill Miller talked about the outlook for crypto amid a war between Russia and Ukraine in an interview with CNBC Wednesday. He is the founder of Miller Value Partners and currently serves as its chairman and chief investment officer. He manages the firm’s Opportunity Equity and Income Strategy funds. Prior to Miller Value Partners, he co-founded Legg Mason Capital Management. Following its invasion of Ukraine, a growing number of countries have imposed sanctions on Russia. This has caused the Russian ruble and stocks of Russian companies listed abroad to plummet . European Commission President Ursula von der Leyen said last week: “We will paralyze the assets of ...

U.S. Treasury Secretary Janet Yellen says the Treasury Department is monitoring Russian efforts to evade sanctions using cryptocurrency. Four U.S. senators have written to Yellen raising concerns about Russia using cryptocurrency as a channel to circumvent sanctions. Treasury Secretary Janet Yellen on Monitoring Russian Efforts to Use Cryptocurrency to Evade Sanctions U.S. Treasury Secretary Janet Yellen talked about the Treasury Department monitoring Russian efforts to evade sanctions using crypto at an event hosted by the University of Illinois Wednesday, the Wall Street Journal reported. Yellen said: We will continue to look at how the sanctions work and evaluate whether or not there are leakages, and we have the possibility to address them. On Wednesday, four U.S. senators, including Sen. Elizabeth Warren , also wrote a letter to Yellen inquiring about the “Treasury Department’s progress in monitoring and enforcing sanctions compliance by the cryptocurrency industry.” The s...

More than three-quarters of Saudi Arabian residents are aware of cryptocurrencies, a new Yougov survey has found. However, the study also found that only 18% of those surveyed are presently buying and selling cryptocurrencies. Easy Accessibility of Virtual Coins According to the findings of a Yougov survey, about 77% of Saudi Arabian residents are aware of cryptocurrencies, which suggests that the asset class “has generated a fair amount of awareness.” The study data, on the other hand, shows that only 18% of those surveyed confirmed they are buying and selling cryptocurrencies. As shown in the study data, while younger Saudis are currently dominating crypto trading in the kingdom, the findings show that older Saudis also “plan to deal in it.” Concerning the factors that motivate Saudi residents to invest or trade cryptocurrencies, the study found that almost half of the respondents cite their accessibility. The report states: Currently, the key motivation for most Kingdom of S...

The Rwandan central bank may not know whether it can issue a digital currency until December 2022, when it completes a study that looks at the benefits and risks that come with such a currency, the bank’s deputy governor has said. The Investigation Phase The deputy governor of the Rwandan central bank, Soraya Hakuziyaremye, recently suggested that Rwanda is likely to know the outcome of the bank’s investigation into central bank digital currencies (CBDC) by the end of the year. In her remarks published in The New Times, Hakuziyaremye revealed that the decision to issue or not issue a CBDC will depend on the findings of the research study currently being undertaken by the National Bank of Rwanda (NBR). “We are now at an investigation phase. We are analysing what could be the benefits to Rwandans to have CBDC but also the risk not only to our economy but the sector depending on the form of digital currency we would issue,” Hakuziyaremye explained. As reported by Bitcoin.com News ...

A text threatening to prohibit cryptocurrencies relying on energy-intensive proof-of-work mining has been deleted from the draft legislation aimed at regulating the European crypto space. The move comes after the controversial provision sparked objections from the crypto community. MiCA Proposal Drops Ban on Proof-of-Work Coins Wording that could have banned cryptocurrencies with proof-of-work ( PoW ) mining, like bitcoin, is missing in the latest version of EU’s Markets in Crypto Assets ( MiCA ) framework. The European Parliament (EP) was expected to approve the proposal on the last day of February but the vote was postponed to address concerns raised by representatives of the crypto industry. “The Bitcoin ban in the EU is off the table for now,” BTC Echo noted, quoting the document. The German crypto news outlet revealed that the controversial paragraph has been dropped. The text proposed by the factions of the Left, Greens, and Social Democrats would have prohibited companies f...

Square Enix, the Japanese game publishing and developing company, has announced a new deal with The Sandbox to allow one of its IPs to be featured in the metaverse-based platform. The company will bring elements of Dungeon Siege — one of its oldest intellectual properties — to The Sandbox, allowing players to include these elements in their own custom-made experiences. Square Enix Partners With The Sandbox Square Enix, a traditional gaming company, announced it is partnering with the metaverse-based platform The Sandbox, bringing one of its IPs to the virtual world. The IP that the company will introduce is Dungeon Siege, an RPG experience that has sold more than 1.7 million copies and spawned a series of sequels. The collaboration will encompass the integration of the Dungeon Siege into the metaverse in two different ways. Square Enix will establish an interactive piece of land in the platform to allow players to enjoy experiences including Dungeon Siege elements, and to also rec...

South African cryptocurrency exchange Valr announced recently that it has raised $50 million in a Series B round led by Pantera Capital. The capital raise means Valr is now valued at a reported $240 million. Funds Raised to Finance Valr’s Expansion Into Other Markets The South African cryptocurrency exchange, Valr, recently announced that it raised $50 million in a Series B funding round. The round was led by Pantera Capital, while Alameda Research, Cadenza, CMT Digital, Coinbase Ventures, Distributed Global, GSR and Third Prime also took part. According to a report by Globalcryptotv, the cryptocurrency exchange’s latest capital raise dwarfs the $3.4 million that it raised in July 2020 and places Valr’s value at $240 million. The report added that Valr, which entered the South African crypto market more than three years ago, will use the capital raised to fund the platform’s expansion into other markets across Africa and into emerging markets such as India. Remarking on the exch...

U.S. Senator Elizabeth Warren is worried that “cryptocurrencies risk undermining sanctions against Russia.” She urges financial regulators “to take this threat seriously and increase their scrutiny of digital assets.” Senator Elizabeth Warren Worried Russia Could Use Cryptocurrency to Evade Sanctions As governments worldwide are placing sanctions on Russia following its invasion of Ukraine, U.S. Senator Elizabeth Warren is worried that cryptocurrency could give Russia a way to evade sanctions. The senator from Massachusetts tweeted Monday: Cryptocurrencies risk undermining sanctions against Russia, allowing Putin and his cronies to evade economic pain. “U.S. financial regulators need to take this threat seriously and increase their scrutiny of digital assets,” she added. Senator Warren’s tweet was heavily criticized in the crypto community. Some people called her ignorant while others said she lied. One person tweeted: “So what you’re saying is that a stateless, permissionless,...

Mobile network operator MTN recently staked claim to its status as one of the first South African companies to enter the metaverse, after it purchased 144 plots of digital land in the virtual world Ubuntuland for an undisclosed amount. MTN Seeks to ‘Amplify Consumers’ Digital Experiences’ South Africa’s mobile network operator, MTN, recently bought 144 plots of digital land in the Ubuntuland metaverse, a report has said. The purchase reportedly makes MTN one of the first companies from South Africa to enter the metaverse. As the Mybroadband report explained, MTN now owns 144 plots with an area of 12 square meters. Commending the company’s pivot to the metaverse, MTN’s group executive for marketing, Bernice Samuels, is quoted explaining how this dovetails with its Ambition 2025 strategy. The executive said: This is exactly what our Ambition 2025 strategy is premised on — leveraging trends that amplify consumers’ digital experiences and engagement. We have always been at the fore...

Spacex has managed to deliver Starlink equipment to Ukraine as promised by its founder, Elon Musk. The hardware will provide access to high-speed internet for users in the country, which has been experiencing disruptions in communications as a result of Russia’s military invasion. Ukrainians Get Starlink Internet Amid Ongoing Russian Offensive Ukraine has received a batch of terminals needed to connect to the satellite internet constellation Starlink. The network is operated by Spacex, the aerospace manufacturer founded and managed by U.S. tech entrepreneur Elon Musk, and offers high-speed broadband internet across the globe. The arrival was announced by Mykhailo Fedorov, Ukraine’s deputy prime minister and minister of digital transformation. “Starlink — here. Thanks, @elonmusk,” the Kyiv official tweeted on Monday, posting a photo of a truck full of antennas and routers used to connect to the satellites. On Saturday, Fedorov took to Twitter to ask the billionaire to provide Ukra...

Analysts from Venezuela have expressed their worries about the expulsion of a number of Russian banks from SWIFT, an international messaging system that allows the interconnection of banks. These measures could affect the finances not only of Venezuela, but also of other countries in the region, damaging their capability to move funds, which is highly dependent on services provided by Russian banks. Russian Banks’ SWIFT Expulsion Could Affect Venezuela The recent announcement of the expulsion of some Russian banks from the SWIFT payments system has raised concern about the effects it could have in countries like Venezuela, which is linked to the Russian banking system. Jose Guerra, a Venezuelan economist, was one of the first to speculate about this possible problem on social media. Guerra stated : What does it mean for Venezuela? If the government money is in Russian banks, it will not be possible to transfer it to make payments. everything gets complicated. Guerra further exp...

One of the United Arab Emirates (UAE)’s leading real estate property developers, DAMAC Properties, is planning to launch a project in the metaverse soon, the company’s managing director (MD) has said. DAMAC Looking Into NFTs and Metaverse According to Ali Sajwani, the managing director of the real estate property developer DAMAC Properties, his company is planning to start a project in the metaverse sometime in March. The project, if launched, will be a first for the London Stock Exchange-listed property developer. Sajwani’s confirmation of the company’s planned foray into the metaverse came a few weeks after an online poll he conducted suggested real estate is likely to be the first sector to adopt non-fungible tokens (NFTs). In addition, the revelation came shortly after Sajwani himself was said to have purchased a plot in The Sandbox metaverse. In remarks following an announcement made during NFT collection Crypto Bear Watch Club (CBWC)’s ask me anything (AMA) session, Sajwani ...

Former presidential candidate Hillary Clinton has criticized the Biden administration and European governments for not pressuring cryptocurrency exchanges to end transactions with Russian users. She believes regulators “should look hard at how they can prevent the crypto markets from giving an escape hatch to Russia, both governmental and private transactions in and out of Russia.” Hillary Clinton ‘Disappointed’ Crypto Exchanges Are Not Blocking All Russian Users Hillary Clinton, a former first lady, U.S. senator, secretary of state, and the 2016 Democratic presidential candidate, heavily criticized the Biden administration, the Treasury Department, and European governments on MSNBC Monday night for allowing Russians to use cryptocurrency as an escape route. Commenting on some major cryptocurrency exchanges refusing to block accounts of all Russian users, Clinton said: I was disappointed to see that some of the so-called crypto exchanges, not all of them but some of them, are re...

Airbnb confirms that it is looking to support cryptocurrency. The company has also offered to provide housing for up to 100,000 Ukrainian refugees. According to the European Union, about four million people may try to leave Ukraine because of the Russian invasion. Airbnb’s CEO Discusses Cryptocurrency and the Refugee Crisis in Ukraine The CEO of Airbnb, Brian Chesky, talked about cryptocurrency and his company’s efforts to help Ukrainian refugees in an interview with CNBC Tuesday. According to its website, Airbnb has about 6 million active listings worldwide, with more than 4 million hosts. There are 100,000 cities and towns with active Airbnb listings. Chesky was asked if Airbnb supports crypto since some people in Ukraine are trying to take payments in cryptocurrency following Russia’s invasion. He replied: Airbnb is. I mean, I am personally supportive of the idea of crypto, of course. I think it’s a really interesting technology. He continued: “I went on Twitter in the begin...

According to reports and data stemming from ruble-denominated crypto trading pairs, Russian citizens are flocking toward cryptocurrencies amid the conflict in Ukraine. Analytical data indicates that the ruble is the sixth most traded pair with tether and tether’s fourth most traded fiat-denominated pair globally excluding two crypto assets. Report Highlights Russian Rubles Pouring Into Tether, Data Shows Binance RUB-Denominated Crypto Trading Pairs Spike 24 hours ago, Bitcoin.com News reported on ruble (RUB)-denominated crypto volumes increasing and further investigation shows the trend has continued. According to a report published by vice.com author Ekin Genç, metrics sent to Motherboard from Arcane Research indicate that USDT /RUB trading volume has been surging. A number of other data points show similar findings as ruble trade volume has been rising across the crypto ecosystem. A report published by the Wall Street Journal reporter, Paul Vigna, shows that between February ...

The U.S. Securities and Exchange Commission (SEC) has revealed that there are benefits for cryptocurrency companies to self-report their violations of securities laws to the regulator. While noting that there will be no amnesty, the SEC enforcement director said, “We’ll view their conduct more favorably if they come in — such as what the remedies will look like.” No Amnesty for Crypto Firms Cryptocurrency companies that self-report violations of security laws to the U.S. Securities and Exchange Commission (SEC) cannot expect amnesty but there are some benefits, Gurbir Grewal, the agency’s enforcement director, told Reuters Monday. The director elaborated: Our message to them is not, ‘Register your product and we’ll just ignore the billions you have under management in this crypto lending product and your violations of the securities laws.’ SEC Chairman Gary Gensler has repeatedly urged companies in the crypto space to come in and discuss their products with the SEC to bring the...

Binance, the biggest cryptocurrency exchange by trading volume, has announced a series of humanitarian aid actions it will take to support Ukrainians. The exchange stated it will donate a minimum of $10 million to help the Ukrainian people through the Binance Charity Foundation. Binance also announced it was kickstarting a crypto-first crowdfunding site to coordinate donations to the Ukrainian cause. Binance to Offer Humanitarian Donation to Ukrainians Binance, one of the leading exchanges in the cryptocurrency sphere, has announced its intentions to help the people of Ukraine in light of the current conflict. The exchange announced it will donate at least $10 million to support humanitarian efforts to improve the situation of Ukrainian citizens in the midst of the conflict. The donation, which will be made by the Binance Charity Foundation, will be divided between nonprofit and governmental organizations present in the country. Among these organizations is UNICEF, which has a lon...

An Islamic scholar, Irshad Ahmad Ijaz, has asserted that digital currency is not fake currency and that it should be legitimized once certain conditions are met. Ijaz’s viewpoint is echoed by other scholars that attended a seminar examining the status of digital currencies from the perspective of Islamic law. Use of Crypto in the Digital Age An Islamic scholar or Mufti, Irshad Ahmad Ijaz, recently argued digital currencies are not so-called fictitious currency, a report has said. He, however, suggested that such currency can only be justified once certain conditions have been met. According to a report published by Academia, Ijaz, who made his remarks while speaking at a seminar held in Pakistan on cryptocurrencies — organized by the University of Karachi and the Al-Asr Foundation — also urged the Pakistani government to play its part and ensure the confusion surrounding the use of cryptos is removed. Meanwhile, the report also quotes another scholar, Ishaq Alam, who suggested th...

Humans have always had the ambition to explore outer space. To this day, the Moon Landing remains etched in history as one of the most highly regarded events of all time, one that continues to inspire over half a century later. Space travel is still far from universally available, such that even the planets and moons of our Solar System are beyond our reach but for the hard work and effort of the world’s various space programmes. MARS4 Metaverse aspires to bring that dream closer. What is MARS4? MARS4 is a blockchain-based project consisting of three interconnected parts: NFTs, MARS4 dollars and the upcoming game. All these elements will come together to create an interactive virtual Mars with a self-sustaining economy. Like many blockchain games, MARS4 will be a Play-to-Earn game where NFTs and tokens are utilized as tools to give a rich and exciting experience of Mars for the players. With MARS4, you can own a unique Mars land NFT modeled after NASA’s Mars data. MARS4 land NFTs...

The concept of leveraging a decentralized autonomous organization (DAO) has become very popular these days, as a myriad of DAO ideas have been created. A new DAO dedicated to purchasing fast-food restaurants called Fries DAO has raised more than $5.4 million to achieve the goal. Fries DAO Creators Dream of a ‘DAO-Governed Fast-Food Franchise Empire’ Last week, Bitcoin.com News reported on a newly launched DAO that is attempting to purchase the NFL’s Denver Broncos football franchise for $4 billion. Ever since 2016’s Genesis DAO and the subsequent hack that followed, DAO concepts have grown in popularity and security seems stronger. Basically, a DAO is automated, decentralized, and operated by the community’s blockchain governance system. A DAO’s native token is typically leveraged to be used as a stake in governance voting processes, and for paying for goods, services, and future goals. A newly launched DAO called Fries DAO is attempting to leverage the DAO idea to purchase fas...

On Monday, Sven Henrich, the founder and the lead market strategist for northmantrader.com discussed bitcoin “rallying in the face of this crisis.” The technical analyst and market commentator highlighted four reasons why he believes bitcoin’s value surged — “Fundamental, Sentiment, Technical, [and] Safety trade.” Northmantrader’s Founder Sven Henrich Describes Why He Thinks ‘Bitcoin Is Rallying in the Face of Crisis’ The price of bitcoin (BTC) surged on Monday to a high of $44,256 per unit at 5:35 p.m. (EST). BTC ’s price hasn’t been this high in USD value in roughly 39 days, since January 20, 2022. Bitcoin’s price rise sparked a number of conversations on social media and forums during the course of the day. After the price of the leading crypto jumped, gold bug and economist Peter Schiff shared his two cents about the market action on Monday. “Gold and bitcoin are both up today,” Schiff tweeted . “But this move in no way implies a correlation. They’re rising for different reas...

Hack VC, a crypto investment firm, has launched a new $200 million crypto-based seed fund. The venture capital company, which is behind the hack.summit() event, one of the biggest blockchain programming events in the world, aims to invest in early stage Web3-based teams. The idea behind this fund is to accompany these teams each step of the way, instead of just providing funding as with other, similar proposals. Hack VC Launches $200 Million Fund Backed by Sequoia Capital and Fidelity Hack VC, a crypto-led venture capital group behind the hack.summit() blockchain programming event, announced it is launching a new $200 million crypto seed fund, that aims to invest in early-stage cryptocurrency and Web3 teams. The funds come from several VC companies in the field and include investments from Sequoia Capital , Fidelity, A16z’s Marc Andreessen, and Digital Currency Group, among others. The fund aims to implement a different approach when it comes to incubating these early-stage ventur...

Ivory Coast or Côte d’Ivoire’s Tietto Minerals recently said it had drilled and extracted as much as 503.85 grams per tonne from 83 metres at its Abujar Gludehi deposit. The drilling result moves the miner another step towards production on what may become West Africa’s biggest new gold mines, a report has suggested. The Abujar Deposit Tietto Minerals, the Ivory Coast-based gold miner, has reportedly drilled 503.85 grams per tonne (g/t) from 83 metres at its flagship Abujar-Gludehi deposit. On top of this very high grade, the miner’s other better results include a 10-metre hit which had 51.75 g/t. An even richer 3-metre section had about 171 g/t from the same depth. According to a report by The West, the Abujar-Gludehi deposit is, in fact, part of a larger Abujar gold project which is comprised of three “contiguous tenements” that have a total land area of 1,114 square kilometres. Similar to the Gludehi deposit, the report noted that the miner’s other prospects had delivered notew...