Bitcoin News and Finance: What You Need to Know

The Italian luxury brand Michele Franzese Moda has announced the firm is accepting crypto assets for payments. The company revealed the decision via Michele Franzese Moda’s online magazine in an article called “Its Time for Crypto.” Italian luxury Brand Michele Franzese Moda Says ‘Its Time for Crypto’ According to the company’s fashion news blog, Michele Franzese Moda will accept bitcoin (BTC) and a number of other crypto assets for items stemming from the luxury catalog. The announcement post says that it’s time for the luxury brand to accept crypto and going forward e-commerce and Android shoppers will be able to pay with digital currencies. Currently, Michele Franzese Moda will accept payments in bitcoin (BTC) , bitcoin cash (BCH) , bitcoinsv ( BSV ), cardano ( ADA ), dogecoin (DOGE), ethereum ( ETH ), voyager token (VGX), solana (SOL), polkadot (DOT), litecoin ( LTC ) and a number of other crypto tokens. The announcement claims that “Michele Franzese Moda is the first majo...

PRESS RELEASE. Singapore, Singapore / Mar 26, 2022 / — APENFT Marketplace aims to lower the entry barrier for users through a new NFT market and build new forces in the TRON community by issuing exclusive Genesis NFT badges live on March 31. As an essential art foundation in the TRON ecosystem, APENFT’s goal is to achieve cross-field collection worldwide and provide a bridge for top traditional artists to make inroads into the NFT market. It’s backed by the TRON network’s underlying technology with support from the world’s most extensive distributed storage system, BitTorrent File System (BTFS) , to provide secure, reliable, efficient, and decentralized services to NFT art lovers across the globe. Like how blockchain democratizes finance, APENFT turns prominent art pieces into NFTs. It upgrades the way artworks are hosted and transforms them from elite-exclusive items to something that truly belongs to the people. APENFT believes in art for everyone. The Genesis NFT badge is an e...

The U.S. Department of Justice (DOJ) has charged two people allegedly behind a million-dollar non-fungible token (NFT) “rug pull” scheme. They abandoned the NFT project within hours after selling out, deactivated the website, and transferred over $1 million in crypto to the wallets they controlled, the justice department explained. NFT Purchasers Defrauded in a Rug Pull Scam The U.S. Justice Department announced Thursday that two 20-year-olds have been charged in a “non-fungible token (NFT) fraud and money-laundering scheme.” The defendants, Ethan Nguyen and Andre Llacuna, allegedly defrauded purchasers of NFTs advertised as “Frosties.” According to the DOJ, on or about Jan. 9, the defendants “abandoned the Frosties NFT project within hours after selling out of Frosties NFTs, deactivated the Frosties website, and transferred approximately $1.1 million in cryptocurrency proceeds from the scheme to various cryptocurrency wallets under their control in multiple transactions designed t...

Malaysia’s deputy finance minister has clarified that the government will not adopt cryptocurrency as legal tender. “Cryptocurrencies like bitcoin are not suitable for use as a payment instrument due to various limitations,” he said. Bitcoin Will Not Be Legal Tender in Malaysia, Says Deputy Finance Minister Following reports that a high-ranking government official has proposed adopting cryptocurrency as legal tender in Malaysia, the government clarified in parliament Thursday that it has no intention of making cryptocurrency legal tender in the country, Bloomberg reported. Deputy Finance Minister Mohd Shahar Abdullah said in parliament: Cryptocurrencies like bitcoin are not suitable for use as a payment instrument due to various limitations. He named price swings and exposure to cyber threats as examples of the limitations of cryptocurrencies. His statement echoes another he made earlier this month about cryptocurrency. “Digital assets, such as bitcoin and ethereum, are not su...

A Nevada man has admitted his role in laundering funds solicited for the Bitclub Network, a $722 million fraudulent cryptocurrency scheme. He also pleaded guilty to tax offenses. Bitclub Network Investor Pleads Guilty The U.S. Department of Justice (DOJ) announced Thursday that Gordon Brad Beckstead, a 57-year-old from Henderson, Nevada, has pleaded guilty in connection with the Bitclub Network fraud. The announcement details: A Nevada man today admitted his role in laundering funds solicited for Bitclub Network, a $722 million fraudulent cryptocurrency scheme. The DOJ explained that the Bitclub Network was a fraudulent scheme that ran from April 2014 through December 2019. Its creator and operator, Matthew Brent Goettsche, was indicted in December 2019. Silviu Catalin Balaci, Russ Albert Medlin, Jobadiah Sinclair Weeks, and Joseph Frank Abel were also indicted at the same time in connection with the scheme. The fraudsters “solicited money from investors in exchange for shares ...

The Kenyan central bank governor has once again told Kenyans to be wary of the risks that are associated with cryptocurrency transactions and trading. The governor also warned financial institutions supporting cryptocurrency transactions that they risk losing their licenses. Crypto Trading Beneficial to a Few The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has reiterated that his institution still opposes cryptocurrency transactions. The governor also suggested that Kenyan citizens must always be wary of investing in highly volatile asset classes such as cryptocurrencies. In remarks published by the East African newspaper, Njoroge — who was addressing Kenyans that attended the World Consumer Rights Celebration Day — suggested that investing in cryptocurrencies is only beneficial to a few people. He explained: There are people who are excited about cryptocurrencies because they see it as a sort of investment that they can win big because prices are going up quic...

On March 23, Honduras’ central bank issued a clarification on crypto assets such as bitcoin, and noted that digital currencies are not legal tender or regulated in the country. The announcement, posted via Honduras’ central bank official Twitter account, comes after lots of speculation about the Honduran president, Xiomara Castro, allegedly going to declare bitcoin legal tender in the country. Despite Rumors, Honduras’ Central Bank Says Bitcoin and Crypto Assets Are Not Legal Tender in the Country In recent times, there’s been a lot of rumors that claimed the 56th president of Honduras Xiomara Castro may legalize bitcoin in Honduras. Some reports even noted that an announcement may come from Honduras’ government this week or “ the coming days .” However, on March 23, the central bank of Honduras put the rumors to rest, as the bank’s statement notes that crypto assets are neither legal tender nor regulated in Honduras. “Bitcoin is a financial asset that exists virtually (also ...

Exxon Mobil Corporation is reportedly participating in a pilot program that leverages excess natural gas to power crypto mining machines, according to a recent report quoting people familiar with the matter. The report states that the oil giant is partnered with the firm Crusoe Energy Systems, and the pilot is purportedly taking place in North Dakota at the Bakken shale basin. Unnamed Sources Say Exxon Is Piloting a Bitcoin Mining Operation in North Dakota Using Flare Gas On March 24, Bloomberg author Naureen S Malik reported that the largest American oil and gas corporation Exxon Mobil (NYSE: XOM ) is participating in piloting a bitcoin mining project with excess gas. Malik wrote that “people familiar with the matter” told Bloomberg that they could not be named because the information is not public. However, the people who asked to not be named said that currently, Exxon Mobil is working with Crusoe Energy Solutions in the state of North Dakota. Crusoe Energy is a firm that prov...

PRESS RELEASE. MetaGods , the world’s first play-to-earn 8-bit action role-playing game built on the blockchain, introduced an upcoming in-game land sale with a group of amazing backers involved, including world-famous Youtuber MrBeast. MetaGods is a game based on Greek mythology where players fight against gods as they ascend through the virtual world. Gameplay requires players to acquire unique characters through NFTs to increase their chances of winning battles and earning rewards. MetaGods players can also team up and fight epic bosses on their path to becoming gods. The blockchain-based role-playing game (RPG) uses two tokens – $MGOD and $RELIC – powering the entire MetaGods ecosystem. Players use $MGOD as the platform’s governance token, and also to participate in special in-game events. On the other hand, $RELIC is a token players earn through gameplay, usable for purchases in the MetaGods marketplace. Lands in the MetaGods Game Players can use either $MGOD or $ BNB to acq...

Meta Inc., formerly Facebook, has filed eight trademark applications relating to a wide range of crypto services and the metaverse. They include cryptocurrencies, crypto trading, blockchain software, crypto wallets, and crypto exchanges. Meta’s Trademark Filings Cover a Range of Crypto Services and the Metaverse Facebook owner Meta has filed eight new trademark applications with the United States Patent and Trademark Office (USPTO) for its logo covering a range of crypto-related products and services. A USPTO-licensed trademark attorney, Mike Kondoudis, tweeted Wednesday explaining that the applications (serial numbers: 97320155, 97320153, 97320149, 97320147, 97320146, 97320144, 97320140, and 97320136) were filed on March 18. They cover a wide range of crypto-related products and services including crypto tokens, cryptocurrencies, blockchain software, crypto exchanges, and crypto trading. Kondoudis described Meta’s applications as a blueprint for how the company intends to engage...

The CEO of the world’s largest asset manager, Blackrock, says the Russia-Ukraine war has a “potential impact on accelerating digital currencies.” He confirms that Blackrock “is studying digital currencies, stablecoins and the underlying technologies to understand how they can help us serve our clients.” Blackrock on the Acceleration of Digital Currencies Blackrock CEO Larry Fink published his 2022 letter to shareholders Thursday with a section on digital currencies. Blackrock is the world’s largest asset manager, overseeing more than $10 trillion. “The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades,” Fink wrote. After extensively discussing the impact of the war, the CEO noted: A less-discussed aspect of the war is its potential impact on accelerating digital currencies. The war will prompt countries to re-evaluate their currency dependencies. Several renowned investors have predicted that the Russia-Ukraine war c...

Florida governor, Ron DeSantis explained at a press conference on Tuesday that he’s spoken with state agencies and told them to figure out ways for businesses to pay tax with cryptocurrencies. During the signing ceremony for a bill focused on financial literacy, DeSantis said that the government is working on accepting bitcoin “for payments in the state of Florida.” DeSantis Is Concerned About Biden’s Executive Order On Tuesday, Ron DeSantis, the 46th governor of Florida appeared at a press conference with fellow colleagues in order to sign a bill that mandates financial literacy in schools throughout the state. DeSantis touched on many subjects as Florida’s governor noted that he is concerned about U.S. president Joe Biden’s recent digital currency-focused executive order . According to DeSantis, there’s a lack of understanding when it comes to decentralized crypto assets and centralized digital bank currencies (CBDCs). “There’s a difference between a decentralized digital crypto...

Spain’s Ministry of Treasury has admitted that Spanish citizens are not forced by law to declare their cryptocurrency holdings under the disputed Model 720, which involves declaring funds held abroad. While the antifraud law approved last year established this duty, there are still no rules regarding cryptocurrency after Model 720 was declared to be illegal by European laws. No Obligation to Include Crypto in Tax Statements Under Model 720 The Spanish Treasury Ministry has admitted that the current legal framework does not include the obligation for Spaniards to declare their cryptocurrency holdings under Model 720, which has to do with funds held abroad. The Spanish Tax Agency confirmed that citizens don’t have any duty to report their cryptocurrency holdings, not even in an informative way, after the underlying ruleset has not been established by the authorities. This means that citizens need not include any of their crypto-related info in the upcoming Model 720 statement corres...

The Japanese social media and messenger software firm Line Corporation has announced the company is introducing a non-fungible token (NFT) marketplace on April 13. Line detailed on Wednesday that the market will be called “LINE NFT” and it will showcase “more than 100 types of NFTs.” Japan’s Line Corporation to Launch LINE NFT Marketplace In March 2021, Line Corporation completed a merger with Softbank Group, Yahoo Japan, and Z Holdings. The merged company aims to encompass the digital world from all aspects and last week, reports revealed Z Holdings was launching a global NFT marketplace that will operate in 180 countries. 13 days later, Line announced the company is also launching an NFT marketplace called “LINE NFT.” Line’s press release notes that the market will showcase more than 100 types of NFTs. LINE NFT will launch on April 13, and LINE app users will be able to use the marketplace via the app, the company details. The LINE NFT launch will see participation from Nissy (...

PRESS RELEASE. Bitcoin of America is a popular virtual currency exchange, registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). Apart from ensuring a fast and hassle-free transaction, they are known for their customer support. Bitcoin of America has announced their newest addition to their Bitcoin ATM machines (BTMs). Dogecoin is now available at Bitcoin of America ATM locations. Bitcoin of America added Ethereum in October of last year. They recognized the growing popularity of Dogecoin and decided it was time to include it in their BTMs. To date, Bitcoin of America has 1800 plus BTMs across 31 states. Bitcoin of America also offers Bitcoin and Litecoin options online and at their BTM locations. To find a BTM you can visit their website and enter in your address to find the nearest one. Bitcoin of America has made several updates to their machines and services over the past year. In May of last year, Bitcoin of America announced th...

The CEO of Almonty Industries has warned that it could take the Federal Reserve 10 years to get inflation under control if they do not act now and stop spending money. “And they need to raise rates. That’s the only tool that works,” he said. Federal Reserve Could Take a Decade to Get Inflation Under Control Almonty Industries CEO Lewis Black discussed the state of the U.S. economy and inflation in an interview with Kitco News this week. Almonty is a global mining company focused on tungsten mining and exploration. Black has over 15 years of experience in the tungsten mining industry. He recently explained that one key use for tungsten is in the batteries used in electric vehicles. “Tungsten is used in anodes and cathodes in batteries, helping vehicles charge quicker,” he said. While noting that the Russia-Ukraine war is directly contributing to the recent inflation surge, the executive pointed out that many commodities were already near record highs before Russia began its invasio...

Billionaire Carl Icahn, the founder of Icahn Enterprises, has predicted that the U.S. economy could be heading into “a recession or even worse.” The famous investor warned of “a lot of trouble ahead” and “a rough landing.” Billionaire Carl Icahn Predicts a Recession in the US Famous investor and billionaire Carl Icahn said Tuesday in an interview with CNBC that a recession or something worse could be on the horizon for the U.S. economy. Icahn is the founder of Icahn Enterprises, a public company and diversified conglomerate holding company based in New York City. His current net worth is approximately $17 billion. Noting that surging inflation is a major threat to the economy, he said: I think there very well could be a recession or even worse. He explained that based on his experience sitting on the boards of a lot of companies, “when you get to understand what these boards do, the system is needing fixing.” He also noted that at this point, “we have supply chain problems” bec...

On Tuesday, the international governing body of association football, FIFA, announced the exchange Crypto.com will be an official sponsor of the FIFA World Cup Qatar 2022 tournament. According to the announcement, the digital currency trading platform will “activate its official sponsorship” during the tournament “in many ways.” FIFA Chooses Digital Asset Exchange Crypto.com as an Official 2022 World Cup Sponsor in Qatar Crypto.com is continuing its trend of leveraging to sports to showcase the brand and generate digital currency awareness. On March 22, FIFA announced the organization has chosen Crypto.com to be an official sponsor for this year’s FIFA World Cup. The World Cup is watched by millions of people all around the world and this year the tournament is taking place in Qatar. FIFA World Cup Qatar 2022 will start on November 21 at the Al Bayt stadium in Al Khor. FIFA’s announcement says that Crypto.com “will be the exclusive cryptocurrency trading platform sponsor of Qatar ...

A major crypto exchange in Japan is going public in the U.S. in a $1.25 billion merger deal. Coincheck is regulated by the Financial Sevices Agency (FSA). It will be listed on Nasdaq under the symbol “CNCK.” Japanese Crypto Exchange Coincheck to List on Nasdaq Japanese cryptocurrency exchange Coincheck revealed Tuesday its plan to go public in the U.S. by merging with Thunder Bridge Capital Partners IV, a special purpose acquisition company (SPAC), in a $1.25 billion deal, which is expected to close in the second half of this year. The combined entity will be named Coincheck Group NV. It is expected to be listed on the Nasdaq Global Select Market under the symbol “CNCK.” SPACs are publicly listed shell companies that carry out initial public offerings (IPOs) to raise funds for acquiring a private entity at a later date. Tokyo-headquartered Coincheck operates one of the largest multi-cryptocurrency marketplaces and digital asset exchanges in Japan. The company is regulated by Japan...

The PSG (Paris Saint-Germain) FC, a soccer club in Europe, has taken its first steps to building an online presence in the metaverse. The club has filed a series of trademark applications to register its name in order to offer a number of services, including software, memorabilia, and articles linked to non-fungible tokens (NFTs) for authentication purposes. PSG Gets Ready for the Metaverse The Paris Saint-Germain (PSG), a French soccer club with a large European following, is interested in having a presence in the metaverse, and is now securing its name to be used in these ecosystems. The club filed a series of trademark applications that seek to establish the brand on several virtual memorabilia and trading cards, all authenticated by non-fungible tokens (NFTs). The trademark application, which was introduced March 16th, includes downloadable audio and video recordings, downloadable multimedia files containing text, audio, and video relating to sports highlights, and goods for us...

PRESS RELEASE. Mercuryo is an international fintech company based in London founded in 2018, focused on providing cryptocurrency payment solutions. The company’s cryptocurrency infrastructure provides global access to fast and cheap money transfers with a bank-level oversight and it’s mission is to reinvent the ease of making digital transactions. Features Of Mercuryo: Integrated Multicurrency Wallet: This feature is an inbuilt crypto on-ramp capability in a custodial multicurrency wallet that is engineered to let you purchase, trade, hold, and spend a wide variety of digital assets, easily exactly like you would with fiat currency. Crypto exchange from your Mercuryo account to any other wallet or blockchain address: Mercuryo wallet users may top up their cryptocurrency wallets by buying crypto through their website or transferring crypto from another wallet. By the same token, customers can also transfer crypto from their Mercuryo account to another account or blockchain addre...

The CEO of Southeast Asia’s largest bank, DBS, says cryptocurrency “can be an alternative to gold.” He added that regulating crypto “out of the formal banking system is an unwise thing to do.” DBS’ CEO on Cryptocurrency and Regulation DBS Bank Group CEO Piyush Gupta talked about cryptocurrency and its regulation at the recent Economic Times Global Business Summit. DBS is Southeast Asia’s largest bank by assets. The Economic Times quoted Gupta as saying: I don’t think that cryptocurrencies will become money as we know it, but it can be an alternative to gold and its value. “The other big challenge [of cryptocurrencies] is volatility in value. If you want to use this to pay for something, you don’t know what it’s costing you,” he elaborated. “Today cryptos are a potential source of speculated value, it’s unlikely that this is a source of money as we know it.” The executive said that central banks across the world should consider bringing cryptocurrency into the regulated space. H...

The European Central Bank (ECB) warns cryptocurrencies are being used to evade sanctions by Russians. ECB President Christine Lagarde warns crypto firms against becoming “accomplices” in the crime. ECB President Lagarde Is Certain About Crypto Being Used to Evade Russian Sanctions Christine Lagarde, president of the European Central Bank (ECB), said Tuesday at the Bank for International Settlements (BIS) Innovation Summit that cryptocurrencies are “certainly” being used by Russian firms and individuals to bypass sanctions. A growing number of countries have levied heavy sanctions against Russian entities after Russia began its invasion of Ukraine . Expressing concerns over crypto’s continued use, the ECB chief said: They are certainly being used as a way to try to circumvent the sanctions that have been decided by many countries around the world against Russia. “A specific number of players, either individuals or corporates, are obviously trying to convert their rubles into cry...

The U.K.’s advertising authority has sent an enforcement notice to more than 50 companies that advertise cryptocurrencies. “We will monitor for compliance and implement sanctions if we do not see improvements,” said the regulator. British Advertising Regulator’s ‘Red Alert’ Priority Issue The U.K. Advertising Standards Authority (ASA), the country’s regulator of advertising, announced Tuesday: We have issued an enforcement notice to over 50 companies which advertise cryptocurrencies, instructing them to review their ads and to ensure they understand and are complying with the rules so that consumers are treated fairly. “The enforcement notice provides guidance to the crypto industry on how to stick to the rules and warns that we will monitor for compliance and implement sanctions if we do not see improvements,” the ASA added. “The notice applies to ads for cryptocurrencies, crypto exchanges and ads or promotions which otherwise involve the transfer, sale or supply of cryptocurr...

An account blockade that happened more than five months ago due to money laundering issues has prompted some Colombian users of Binance to commence legal action against the exchange in the country. According to reports the funds blocked exceed $1 million, and after an investigation from the FIOD, the Netherlands’ anti-money laundering watchdog, the funds were linked to financial crimes. Binance Account Blockage Prompts Legal Action in Colombia Binance is facing legal issues in Colombia after blocking the accounts of a group of citizens whose activities were allegedly linked to a money-laundering investigation from the FIOD, the Fiscal Intelligence and Investigation Service of the Netherlands. According to reports , the value of the cryptocurrency blocked in these accounts totals more than $1 million, with users being unable to move the funds since five months ago. Some users noted they’ve been victims of a seizure of funds, like Jairo Velez, who stated: I have been blocked since...

On Monday, Tommy Hilfiger has announced the company is joining the inaugural Decentraland Metaverse Fashion Week from March 24th to March 27th, 2022. During the Metaverse Fashion Week, the American fashion design firm said it will showcase its Spring 2022 collections and provide consumers with a “digital retail platform” that features Tommy Hilfiger-crafted NFTs. American Fashion Designer Tommy Hilfiger Is ‘Inspired by the Power of Digital Technology’ At the end of February, Decentraland, the virtual blockchain metaverse, announced the project’s first Metaverse Fashion Week (MFW) would take place this year. Additionally, Decentraland mentioned that visitors would see appearances by Dolce & Gabbana, Selfridges, Jacob & Co, Franck Muller, Garrett Leight, Cavalli, and The Fabricant. It was also noted at the time that the American fashion design firm Tommy Hilfiger would be in attendance. On March 21, Tommy Hilfiger explained that joining the Decentraland MFW represents the “b...

Nepalese actress and model Priyanka Karki is being questioned by the police after her picture was found in promotional material for a cryptocurrency scheme. “The investigation is still underway. We are trying to find out if the actress is involved in the crypto trading promotion or only her picture was used,” said the police. Actress Priyanka Karki Questioned in Connection With a Cryptocurrency Scheme Nepalese actress and model Priyanka Karki has been questioned by Nepal’s Central Bureau of Investigation (CBI) in connection with a cryptocurrency scheme. The CBI brought Karki in for questioning after they found a cryptocurrency ad with her picture on Facebook. The CBI released her on bail Sunday. However, the police said that the investigation is not yet completed and seized her mobile phone for investigation, according to local media. CBI Deputy Inspector General (DIG) Dhiraj Pratap Singh explained, “The bureau began an investigation after seeing cryptocurrency promotional content...

PRESS RELEASE. Nestree is a blockchain-based community messenger that is incentivized in nature. It is also a messaging platform that specializes in the development and revival of diverse communities by exposing them to blockchain technology and cryptocurrencies. In 2022, Nestree will deploy an NFT Aggregator Service (Beta). Nestree has evolved into a specialist platform for NFTs, a fast developing asset class. Moreover, by connecting with multiple worldwide platforms, the team hopes to increase the utility value of the EGG token. Understanding NFT Aggregators Several NFT markets have recently emerged throughout the world. This has resulted in knowledge asymmetry and fragmentation, particularly in relation to NFTs. Thus far, the world has seen a tremendous quantity of knowledge and cash come into the NFT sector, but we’ve also seen an equal amount of bogus and malevolent information flood in. In fact, the greatest crypto fraud case (worth approximately $4 million USD), happened ...