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Avalanche Foundation Launches $290 Million ‘Multiverse’ Incentives Program for Subnets

The Avalanche Foundation has announced a new incentives program to support the use of subnets. The organization announced that the program, dubbed “Multiverse,” will connect developers with a fund of up to $290 million, approximately 4 million AVAX, to incentivize the growth of subnets, a trait that allows AVAX to spur multiple networks that share common computing resources. Avalanche ‘Multiverse’ to Incentivize Subnet Usage The Avalanche Foundation has just announced a new incentives program that seeks to put subnets, a core trait of the Avalanche protocol, in the sights of developers. The organization has agreed to put up to $290 million (4 million AVAX) toward bringing applications to create their own native subnets in the Avalanche ecosystem. Subnets are deployments that allow developers to define rules that can vary from the rule of the Primary Avalanche blockchain. These are flexible enough to be configured to only be validated by a group of nodes and to follow specific rule

African Crypto Startup, Basqet Launches Payment Gateway to Enable Businesses Accept Bitcoin – Goes Live With 118 Businesses and $1.3 Million in Transaction Volume

PRESS RELEASE. Recently, blockchain payments startup Basqet announced the launch of its cryptocurrency payments gateway which will allow businesses to accept Bitcoin and other cryptocurrencies as payment. Basqet said it is launching a public beta and will be going live with 118 businesses already signed up to start accepting payments in Bitcoin and several other cryptocurrencies. Prior to the launch of its beta launch, the team at Basqet also revealed that they had done about $1.3 million dollars in transactions with a handful of businesses. According to Bunmi Eleshin, Senior Product Manager at Basqet “we are creating a missing link between people who hold cryptocurrency and businesses who want to accept crypto as a means of payment. And we are doing it without merchants having to experience a loss due to crypto’s price volatility”. Since Bitcoin entered mainstream media there has been a lot of discussion about crypto being the evolution of money, and Basqet could take crypto ad

Regulator Says UAE ‘Closer to Issuing the Regulatory and Supervisory Framework’ for VASPs

The United Arab Emirates (UAE) is getting closer to issuing a regulatory and supervisory framework that will govern the country’s virtual asset industry, the Securities and Commodities Authority (SCA) has said. FATF Recommendations A UAE securities regulator, the SCA has said it is getting closer to “issuing the regulatory and supervisory framework related to virtual assets issued for investment purposes.” In addition, the regulator revealed in a statement that it had consulted the “concerned authorities” during the development of the regulatory framework that addresses the risks of money laundering and terrorist financing that relate “to virtual assets and virtual asset service providers.” Such consultations have been concluded the statement adds. The regulator meanwhile said the development of this framework had been done in order to ensure the country’s crypto industry adheres to the Financial Action Task Force (FATF)’s recommendations. As a result, licensed exchanges “can app

Robert Kiyosaki Says ‘We Are in Biggest Bubble in World History’ — Warns Government Will Seize All Cryptocurrencies

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has made some gloomy predictions about the economy and the future of cryptocurrency. Besides warning that we are in the biggest bubble in world history, Kiyosaki has predicted that the government will seize all cryptocurrencies. Robert Kiyosaki Warns of the Biggest Bubble, Depression, Hyperinflation The author of Rich Dad Poor Dad, Robert Kiyosaki, has made several gloomy predictions and bleak warnings over the past couple of days. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. On Tuesday, he tweeted to his 1.8 million followers, “Do you have a plan B?” The famous author proceeded to warn that we are in the biggest bubble in world history, citing bubbles in stocks, real estate, commodities, and oi

Bitcoin Miner Hive to Purchase Intel Mining Chips, Firm Reveals a 100 MW Deployment Deal in Texas

On March 7, the publicly-listed mining firm Hive Blockchain Technologies announced the company inked a deal with Intel to purchase new ASIC mining chips. Additionally, Hive has formed an agreement with an original design manufacturer (ODM) and a non-binding letter of intent with Compute North. Hive said the company plans to deploy 100 MW of mining capacity to Compute North’s renewable energy facilities in Texas. Hive to Purchase ASIC Chips From Intel, Aims to Deploy 100 MW in Texas The blockchain company and mining operation Hive (TSX.V: HIVE) (Nasdaq: HIVE ) has revealed it has entered a supply agreement with Intel Corporation (Nasdaq: INTC ). Hive will obtain Intel’s new ASIC mining chips that will be leveraged in custom-built equipment made for the company. The blockchain firm says it has a manufacturing agreement with an ODM that specializes in “electronics manufacturing.” “Hive’s engineering team will draw on its expertise in hardware and software implementation and will work

Pakistan’s Central Bank Sees Few Good Use Cases for Crypto Citing ‘a Lot of Misuses’ Worldwide

The central bank of Pakistan does not see many good use cases for crypto. However, the regulator cites “a lot of misuses” of cryptocurrency around the world, “including human rights violations, trafficking of people, money laundering, and many other things.” Pakistani Central Bank Governor’s Stance on Crypto The governor of the State Bank of Pakistan (SBP), Reza Baqir, talked about cryptocurrency during a panel discussion at the 13th Karachi Litera­ture Festival Sunday, Dawn newspaper reported. Asserting that crypto lacks good use cases, the Pakistani central bank governor remarked: When we look at the value proposition offered by crypto right now, the use cases that have been brought forward have just been exchanges. The SBP governor proceeded to talk about the risks associated with cryptocurrencies. Noting that “There is no way that the regulator or a law enforcement agency has visibility on who is doing transactions and for what purpose,” he opined: Therefore, around the

AdaLend: The World’s Leading Cardano-Based Lending Protocol

BSCPad and ADAPad Public Sale On March 14th. Cryptocurrencies and DeFi are experiencing a period of blistering growth: The total value locked (TVL) of tokens in DeFi protocols rose 357% to $255.39 billion among all blockchains. Over $2.5 trillion in cryptocurrencies was traded in January 2022 alone. Global crypto market cap is now over $2 trillion. Within the space, crypto lending has become the most dynamic niche. Over $35 billion TVL is in DeFi lending protocols, which is dominated by Ethereum with a 54% share of TVL as of January 2022. The problem is that Ethereum is slow, expensive, and lacks scalability: Ethereum can only manage 10 to 15 transactions per second, which means orders pile up faster that they can be posted and are delayed. Gas costs when demand is high can be exorbitant, reaching over $50 per transaction on average in January 2022. Ethereum’s market share is rapidly eroding after peaking at 97% in January 2021, as developers and crypto investors flock to m

Griffin Gaming Partners Launches $750 Million Gaming and Web3 Fund

Griffin Gaming Partners, a venture capital firm specializing in gaming-related investments, has revealed the launch of its second gaming-related fund. The fund, which was reportedly oversubscribed, managed to raise $750 million to support gaming initiatives, including Web3-based and blockchain endeavors. Griffin Gaming Partners has now amassed more than $1 billion AUM. Griffin Gaming Partners Raises Sizable Gaming-Related Fund Griffin Gaming Partners has announced the launch of its second gaming-related fund, which will focus on investing in seed and growth rounds of companies dedicated to building blockchain-powered or traditional games. The fund, which was reported to be oversubscribed raising $750 million, is one of the biggest funds dedicated to interactive entertainment investments. According to numbers coming from the firm, gaming has become a ubiquitous form of entertainment, surpassing movies, music, and books combined. Per reports, the sector is expected to grow by 248%

Goldman Sachs’ Blankfein Asks Why Crypto Isn’t Having a Moment Despite Inflating US Dollar, Freeze Orders

A Goldman Sachs senior chairman has asked why crypto is not having a moment despite “the inflating U.S. dollar” and governments demonstrating that they can and will freeze accounts under certain circumstances. “Not seeing it in the price, so far,” he said. Goldman Sachs’ Blankfein Has a Question About Crypto Lloyd Blankfein, who is currently senior chairman of the Goldman Sachs Group, tweeted about crypto Sunday. Blankfein previously served as Goldman Sachs’ chairman and chief executive officer from 2006 through September 2018. He explained that he is keeping an open mind about crypto. However, he questioned why it is not “having a moment” given “the inflating U.S. dollar” and governments showing that they “can and will under certain circumstances freeze accounts and block payments.” He opined, “Not seeing it in the price, so far…” Recently, the Canadian government froze accounts tied to the Freedom Convoy trucker protest. Furthermore, since Russia began its invasion of Ukraine

US Lawmakers Introduce Bill to Sanction Russia’s Gold

Four U.S. senators are introducing a bill to place sanctions on Russia’s gold. “This legislation would deter the purchase of Russian gold and close this loophole that allows the Russian Federation to soften the financial impact of sanctions,” the senators explained. “By sanctioning these reserves, we can further isolate Russia from the world’s economy and increase the difficulty of Putin’s increasingly-costly military campaign.” US Lawmakers Seek to Sanction Russia’s Gold U.S. Senators John Cornyn (R-TX), Maggie Hassan (D-NH), Bill Hagerty (R-TN), and Angus King (I-ME) announced Tuesday the introduction of the “Stop Russian Government and Oligarchs from Limiting Democracy (Stop Russian GOLD) Act.” “The free world’s sanctions are devastating Russia’s economy — and as long as Putin continues his horrific invasion, we must keep up the pressure,” Senator King tweeted. He added that he has joined Senators Cornyn, Hassan, and Hagerty “to introduce sanctions on Russia’s gold reserves.”

FinCEN Issues ‘Red Flags’ on Potential Sanctions Evasion Using Cryptocurrency

The Financial Crimes Enforcement Network (FinCEN) has issued an advisory on Russian efforts to evade sanctions that includes a number of crypto-related red flags. However, the bureau admitted that it has not seen “widespread evasion” of its sanctions using cryptocurrency. FinCEN Warns About Sanctions Evasion The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, issued an advisory Monday providing regulated financial institutions with “red flags on potential Russian sanctions evasion attempts.” Him Das, acting director of FinCEN, said: “It is vitally important for U.S. financial institutions to be vigilant about potential Russian sanctions evasion, including by both state actors and oligarchs.” He further noted: Although we have not seen widespread evasion of our sanctions using methods such as cryptocurrency, prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people.

Binance Launches Bitfinity, a Payments Company Targeting the Web3 Economy

Leading cryptocurrency exchange Binance has announced the launch of its own payments processing company, Bitfinity. Bitfinity will act as the default fiat-to-crypto payments ramp for the exchange, as well as for other blockchains. With this launch, Binance also targets the expanding Web3 economy, partnering with Paysafe and Checkout.com. Bitfinity Launches to Help Merchants Accept Crypto Binance, one of the largest exchanges by volume traded, recently announced the launch of Bitfinity, its own payments technology company. Bitfinity will become the de facto fiat-to-crypto payments processor of the exchange, supporting more than 50 currencies and all major payment methods, including Visa and Mastercard. This new processor also aims to make merchant onboarding easier, with merchants being able to use Bitfinity’s API to receive cryptocurrency-based payments directly. Binance stated that another objective is to present users with a more friendly system for crypto payments. On the launc

South African Regulator Explains Why It Has Been Targeting Global Crypto Exchanges

Brandon Topham, the head of enforcement at South Africa’s financial sector regulator, has insisted that his organization has not issued warnings to some global exchanges because they deal in crypto. Rather, the warnings have been made because the exchanges are not registered to offer derivatives in the country. Exchanges Not Registered to Offer Derivative Products An official with the South African financial sector regulator, the Financial Sector Conduct Authority (FSCA), has said his organization has been targeting global cryptocurrency exchanges operating in the country because they “offer a derivative product with crypto as the underlying or reference asset.” As previously reported by Bitcoin.com News, the South African regulator has in the past issued public warnings against global crypto exchange platforms like FTX, Binance, and Bybit. In some cases, the regulator’s warnings have forced some crypto exchanges operating in the country to terminate certain services. While the

Fundraising Platform Says It Raised and Distributed 2 Million USDT to Ukrainians

A new fundraising platform whose objective is to help to raise funds for Ukrainians and the Ukraine military recently claimed to have raised 2 million of the stablecoin tether. Some of the donated crypto assets have been sent to the Ukrainian army and to a humanitarian fund that finances volunteers. Ukraine’s Crypto Donations Whitepay , a fundraising platform that seeks to assist Ukrainian civilians and the country’s military forces, recently said it had raised 2 million USDT . According to a tweet posted by the fund on March 6, some of the USDT has since been transferred to the Ukrainian Army to cater to its medical needs. Some of the funds have been transferred to the humanitarian fund that finances the volunteers. The announcement by Whitepay, which was founded by the Estonian cryptocurrency exchange Whitebit and a Ukrainian fintech and crypto entrepreneur, Gleb Udovychenko , came as some reports said Ukraine had received cryptocurrency valued at $50 million in just one week

Binance Fully Resumes EUR and GBP Deposits and Withdrawals via SEPA, Faster Payments

Cryptocurrency exchange Binance has fully resumed EUR and GBP deposits and withdrawals via the SEPA payment network and Faster Payments Services (FPS). Binance is also offering all verified users zero fees for depositing EUR via SEPA and GBP via FPS to “celebrate the return of SEPA and FPS.” SEPA and FPS Back on Binance Cryptocurrency exchange Binance announced Monday that at 11:00 a.m. UTC for both desktop and app: Binance and Paysafe will fully reopen EUR and GBP deposits and withdrawals respectively via the SEPA payment network (SEPA) and Faster Payments Services (FPS). “Binance retail users across Europe, with the exception of Netherlands and Switzerland, will be able to make EUR transfers directly via SEPA,” the exchange detailed. The announcement adds that to “celebrate the return of SEPA and FPS,” Binance is “offering all verified users zero fees for depositing EUR via SEPA and GBP via FPS” until March 31 at 11:59 p.m. UTC. Binance temporarily suspended EUR deposits vi

Data Shows Global Financial Conditions Tightest in 2 Years, Shaky Bond Markets Point to Long-Run Inflation

At the end of the trading day on Monday, Wall Street was roiled once again as major stocks plunged during the day’s trading sessions. Most news outlets indicate the Russia-Ukraine war is causing the bleak outlook and reports show strained financial conditions worldwide are currently the tightest since 2020. Meanwhile, bond markets during Monday’s trading sessions indicate increased inflationary pressures may be on the horizon. Global Investors Grow Concerned About Strained Financial Conditions Equities traders did not have a pleasant day during Monday’s trading sessions as the S&P 500, Nasdaq, NYSE, the Dow, and many other stocks plunged in value . The price shocks and economic fallout is no longer being blamed on Covid-19, as fingers are pointing at the ongoing Russia-Ukraine conflict in Europe. While reports say the military warfare has been brutal, economic sanctions are also taking a toll on the Russian economy. Moreover, economists have noted the sanctions are affecting

Apple Co-Founder Steve Wozniak on Crypto: Bitcoin Is ‘Pure-Gold Mathematics’

Apple co-founder Steve Wozniak says Bitcoin is “the only one that’s pure-gold mathematics.” He is skeptical of most other cryptocurrencies. In addition, Wozniak is a fan of the metaverse but is less enthusiastic about non-fungible tokens (NFTs). Apple’s Steve Wozniak Praises Bitcoin Apple co-founder Steve Wozniak talked about cryptocurrency in an interview with the Insider, published last week. He said: There’s so many cryptocurrencies that come out now. Everybody has a way to create a new one, and you have a celebrity star with it. It seems like they’re just collecting a bunch of money from people who want to invest at the very earliest stage, when it’s worth pennies. Wozniak also noted that some people buy cryptocurrencies because they are not aware of the potential windfalls. “Then they just fold,” he said. While he’s a fan of the metaverse, he’s less enthusiastic about non-fungible tokens (NFTs) and cryptocurrencies, the publication conveyed. He said that for the most part,

Renowned Investor Jim Rogers Sees the End of the US Dollar — Says ‘Washington Does Not Play Fair Anymore’

Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says that “what is happening with the U.S. dollar now is the end of the U.S. dollar.” He explained that “an international currency is supposed to be neutral but in Washington, they are now changing the rules,” emphasizing, “Washington does not play fair anymore.” Jim Rogers on the End of the U.S. Dollar Renowned investor Jim Rogers discussed the end of the U.S. dollar and the future outlook for cryptocurrency in an interview published by the Economic Times Sunday. Rogers is George Soros’ former business partner who co-founded the Quantum Fund and Soros Fund Management. He was asked about the outlook for the U.S. dollar and where he sees the dollar index headed. “I own U.S. dollars partly because when turmoil comes, people look for a safe haven. They think the U.S. dollar is a safe haven for historic reasons,” Rogers began. However, the veteran investor added: But what is happenin

Anchor Nips at Aave’s Heels as Defi Protocol Becomes Second-Largest Lending Application

While the decentralized finance (defi) platform Anchor Protocol’s native digital asset ANC has gained more than 180% over the last month, the total value locked (TVL) in Anchor has increased a great deal during that time as well. Anchor Protocol is currently the second-largest defi lending platform in terms of TVL, and over the last month, Anchor’s TVL has increased by 40.13%. Anchor TVL Surges More Than 40% in 30 Days, Protocol’s TVL Rivals Aave’s Lead The Terra-based token anchor protocol (ANC) has increased in value significantly against the U.S. dollar during the last month. At the time of writing, 14-day metrics show ANC has gained 82.7%, and 30-day stats indicate ANC is up 182.4%. Anchor is a lending protocol built with the Terra blockchain network, and it gathers liquidity from lenders and borrowers. Moreover, lenders depositing the stablecoin terrausd (UST) gather a stabilized yield at close to 20% APY. In order to gather yield, Anchor uses a liquid-staking mechanism .

New Exclusive Slot Game — ‘Bitcoin Rocket’ Open for Play With a $10,000 Tournament

Bitcoin.com releases Bitcoin Rocket — an extremely fun exclusive slot game playable only on games.bitcoin.com! 🚀New high-octane slot game with amazing visuals and retro music🚀 Bitcoin’s rocket to the moon is the single most identifiable meme in the cryptocurrency universe. So, it was only natural that our very own premium gaming portal Bitcoin.com Games would release a title that embodies this meme. Bitcoin Rocket – the newest exclusive slot game from the casino, promises an engaging experience for crypto enthusiasts and guarantees a level of thrill never before felt in the realm of online casinos. The Bitcoin Rocket slot enacts the possibility of Bitcoin going to the proverbial moon with elements such as an astronaut representing a crypto ‘hodler’, the rocket itself as a vehicle of price gain, and the moon acting as the target price speculated by the crypto holding astronaut. The game also features its own Progressive Jackpot which often gets very big, very fast – curren

Report: Official Says Switzerland May ‘Target’ Crypto Assets Belonging to Sanctioned Russians

Neutral Switzerland may target crypto assets within its territory that belong to sanctioned Russian entities, a report has said. The report quotes an official who explains that the move is designed to protect the integrity of the country’s cryptocurrency industry. The official, however, warns that crypto-assets that are not stored with cryptocurrency exchanges are impossible to target. Protecting the Integrity of the Swiss Crypto Industry An official from the traditionally neutral Switzerland has said the country may “target” all crypto asset service points within its borders that are owned by Russians and all entities that have been sanctioned by the European Union. To achieve this, the non-EU country’s Federal Council said it will add provisions against cryptocurrencies to own its sanctions regulations. According to an unnamed official from the country’s finance ministry, denying Russian digital currency holders access to their crypto assets also helps to “protect the integrity”

Visa and Mastercard Suspend Operations in Russia as Part of Sanctions Over Ukraine

The world’s leading payment processors Visa and Mastercard have joined sanctions against Russia over its military invasion of Ukraine. The American companies announced suspension of operations in the Russian Federation although Russians will be able to use their cards inside the country. Card Payment Giants Visa and Mastercard Add to Pressure on Russia Over Ukraine War Payment firms Visa and Mastercard are suspending operations in Russia as part of the international response to its decision to invade Ukraine. The U.S.-based financial services corporations revealed Saturday they’ll be working with clients and partners to terminate transactions through their systems. Visa explained that once it takes the necessary steps, “all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa cards issued by financial institutions outside of Russia will no longer work within the Russian Federation.” “We are compelled to act following Russia’s

IMF Warns Ongoing War in Europe Will Have a ‘Severe Impact on the Global Economy’

In a report published on Saturday, the International Monetary Fund (IMF) has warned that an ongoing war in Europe and associated sanctions will have a “severe impact on the global economy.” The IMF’s report says there is “extraordinary uncertainty” in the air, and the international financial institution believes “economic consequences are already very serious.” IMF’s Economic Outlook Amid Ongoing War in Europe Predicts Inflationary Pressures, Supply Chain Disruptions, and Price Shocks With a crisis happening in the world, many analysts and economists are concerned about the global economy and the aftermath of the warfare taking place in Ukraine. Additionally, Russian sanctions are being discussed or implemented daily by a large quantity of countries across the globe. On Saturday, the IMF issued a staff statement concerning the economic impact of the war in Ukraine after the executive board met on March 4. The report notes that the meeting was chaired by the IMF’s managing directo
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