Bitcoin News and Finance: What You Need to Know

The German multinational corporation that crafts athletic shoes, sportswear, and accessories, Adidas announced on Tuesday the company is collaborating with Ready Player Me, a cross-game avatar platform for the metaverse. Adidas and Ready Player Me will launch a personality based AI generated avatar creation platform featuring the Adidas Originals’ Ozworld shoe collection. Adidas Collaborates With Ready Player Me Adidas is continuing its path into the metaverse and non-fungible token (NFT) collectibles as the firm announced it has partnered with Ready Player Me on Tuesday. Basically, Ready Player Me is a cross-application avatar platform designed specifically for the metaverse. Ready Player Me’s technology allows people to explore different virtual metaverse worlds with a single identity. The platform Adidas Originals is launching is linked to the company’s latest Ozworld shoe release. The futuristic sneakers bearing the name Ozworld were originally launched in the nineties and fe...

EverLend.app is a secured lending protocol powered by Everscale . The platform was successfully launched on the 18th of March, 2022 together with its own utility token. The platform facilitates DeFi lending by hosting funding pools with interest rates based on Everscale’s asset supply and demand algorithm. EverLend.app is a protocol where users can play the role of provider, borrower, or both, and interact with each other within the protocol to earn or pay flexible interest rates. At its core, it is a secured lending platform that charges interest on the use of funds. The platform has been in development for more than 6 months by the SVOI.dev team. Conceptually, EverLend was modeled on the market-leading Compound protocol . One of the goals in creating the project was providing end users with a simple and clear lending platform that would be comfortable to use. At the same time, the development team, together with the advisory team, revised some parameters of the original mo...

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has asked SEC staff to collaborate with the Commodity Futures Trading Commission (CFTC) to develop a new plan to regulate cryptocurrency trading platforms. SEC Wants to Work With CFTC on Regulating Crypto Exchanges The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, talked about the regulation of cryptocurrency Monday at an event hosted by the University of Pennsylvania Carey Law School. “The SEC’s remit is overseeing the capital markets,” the SEC chief began, adding that the agency has a “three-part mission: protecting investors, facilitating capital formation, and maintaining fair, orderly, and efficient markets.” Noting that the SEC is concerned about regulating crypto “platforms, stablecoins, and crypto tokens,” Gensler stressed: There’s no reason to treat the crypto market differently just because different technology is used. We should be technology-neutral. The ...

The Ecuadorian Police and the prosecution of Ecuador have raided several locations linked to Fortunario Digital Assets, a company that was allegedly making illegal collections of money related to forex and cryptocurrency business. The operation also encompassed the seizure of more than $7 million from the accounts of the Ecuadorian company. Ecuadorian Police Raid Fortunario Digital Assets The Ecuadorian police and the prosecution were the main actors in an operation against a company that was allegedly making illegal collections of money. On April 2, these two organizations carried out a joint operation leading to the raid of five locations linked to the aforementioned company in Quito, the capital of the country. According to a preliminary investigation, the company scammed investors through a network of companies that offered investment services on financial platforms. The company supposedly offered operations in forex and cryptocurrency markets and offered a minimum monthly ret...

EverRise , the blockchain technology company that brought the buyback to crypto, has upgraded to a new smart contract that supports VeNomics (vote escrowed token model) and on-chain utility NFTs. The upgraded EverRise protocol introduces increased security features and an innovative staking platform built with on-chain utility NFTs. The RISE token is available on Ethereum, BNB Chain, Polygon, Fantom, and Avalanche with one shared supply, made possible with EverRise’s bridging solution, EverBridge. With use of on-chain NFTs, staking contracts are now fully secured on the blockchain. Most NFTs today are stored off-chain on a centralized server, with just a serial number and redirect link on the blockchain. These on-server NFTs can be changed in the future by the contract deployer. EverRise makes full use of the public ledger and the immutability of smart contracts by securing all information needed to generate NFT Stakes via The EverRise NFT Staking Lab . Both the metadata and the i...

The bitcoin mining startup Primeblock has announced plans to go public via a special purpose acquisition company (SPAC) deal. Primeblock will merge with a blank-check firm 10X Capital Venture Acquisition Corp. II, and the company’s shares will be listed on Nasdaq. Primeblock Reveals SPAC Merger With Plans to Be Listed on Nasdaq in the Second Half of 2022 — SEC Targets SPACs, Shell Companies, and Projections Another bitcoin mining firm is going public and will be listed on the Nasdaq stock exchange. Primeblock revealed a SPAC merger with 10X Capital and the merger should be complete by the end of Q2 2022. Primeblock will join a number of mining operations that have already gone public. Companies such as Riot Blockchain and Marathon Digital Holdings are listed on Nasdaq. The deal with 10X Capital, will bring Primeblock’s overall valuation including debt up to $1.25 billion. The company further explained during the SPAC merger announcement that it had secured $300 million in equit...

The UIAF, which is the Colombian money laundering watchdog, has postponed the date on which exchanges and individuals must start reporting their transactions to the organization. The institution will now open a consulting period in which companies and individuals can present their thoughts regarding the proposed regulation, which might be modified before its application on June 1st. Colombian Watchdog Delays Report Resolution for Transactions The UIAF, the organization that controls and detects money-laundering and terrorism-financing activities in Colombia, has delayed a resolution that established the obligation for exchanges and individuals to report some cryptocurrency transactions. The Colombian unit will start receiving these reports on June 1, instead of when it was established before, on April 1. The exact reasons behind the delay were not specified in the document, but the new resolution that establishes the postponement states: In order to ensure that the submission of...

China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users. PBOC Adds More Cities to Test Its CBDC The Chinese central bank, the People’s Bank of China (PBOC), said Saturday that it is adding more pilot cities to test its central bank digital currency (CBDC), the digital yuan (e-CNY). The new pilot cities are Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and six cities in the Zhejiang province that will host the 2022 Asian Games in September. The six cities are Hangzhou, Ningbo, Wenzhou, Shaoxing, Jinhua, and Huzhou. The digital yuan is already being tested in 10 major cities: Shenzhen, Shanghai, Suzhou, Xiong’an, Chengdu, Hainan, Changsha, Xi’an, Qingdao, and Dalian. It was also tested at the Winter Olympics in Beijing. Commenting on its digital currency, the Chinese central bank stated: Policies must be designed to stimulate creativity and enthus...

PRESS RELEASE. The leading virtual currency exchange, Bitcoin of America, is announcing its return to BTC 2022 in Miami. Bitcoin of America made headlines last year at Bitcoin 2021 for promoting females in the cryptocurrency space. This year the company is back and bringing even more of its female team, including its top women executives. The company has been vocal about making cryptocurrency inclusive to women and getting more females into the industry. Mayor Francis Suarez has become a staple in the cryptocurrency space with his immense support of Bitcoin and its importance in the emerging tech hub, Miami. Suarez spoke last year at the Bitcoin 2021 conference. This year, he is welcoming the all-women team from Bitcoin of America. “I am excited that Miami is hosting the largest Bitcoin conference for the second year. We don’t see very often promoting women in the cryptocurrency industry, and it’s refreshing to see a top operator like Bitcoin of America sending its all-female exec...

Coinbase is focusing on growing the crypto and Web3 ecosystem in India. “Combined with India’s world-class software talent, we believe that crypto and web3 technology can help accelerate India’s economic and financial inclusion goals,” said CEO Brian Armstrong. Coinbase Expanding in India With Web3 and Crypto Push The Nasdaq-listed cryptocurrency exchange Coinbase revealed its plan for India Monday. “India has built a robust identity and digital payments infrastructure and implemented it at rapid scale and speed,” CEO Brian Armstrong described, adding: Combined with India’s world-class software talent, we believe that crypto and web3 technology can help accelerate India’s economic and financial inclusion goals. The CEO continued: “Coinbase Ventures has already invested $150 million in home-grown Indian technology companies in the crypto and web3 space, and is constantly identifying new opportunities to help Indian founders scale.” He added that Coinbase’s Indian tech hub, launc...

The U.K. government has unveiled a detailed plan to make the country a global crypto hub and “a hospitable place for crypto.” The plan includes establishing a dynamic regulatory framework for crypto, regulating stablecoins, and working with the Royal Mint to create a non-fungible token (NFT) to be issued by the Summer. U.K. Wants to Be ‘the Very Best Place’ to Start and Scale Crypto Companies The British government unveiled several initiatives Monday as part of its plan to make the U.K. “a global cryptoasset technology hub.” They include regulating stablecoins, legislating for a “financial market infrastructure sandbox” to help firms innovate, holding a Financial Conduct Authority (FCA)-led Cryptosprint, working with the Royal Mint on a non-fungible token (NFT), and establishing an engagement group to work more closely with the crypto industry. The British chancellor of the exchequer, Rishi Sunak, commented: It’s my ambition to make the U.K. a global hub for cryptoasset technol...

Since September 18, 2021, close to 250 Casascius physical bitcoins were redeemed over the last 198 days. On that day six months ago, there were 19,920 Casascius physical bitcoins left active and today, there are approximately 19,676 left to peel. 19,676 Casascius Physical Bitcoins Left to Peel During the last six months, approximately 244 Casascius physical bitcoins were redeemed for their digital value. The Casascius physical bitcoin collection created by Mike Caldwell is one of the most popular physical BTC collections. The rare coins are often sold for more than the digital face value and today, there are 19,676 physical coins left unredeemed or active, according to casasciustracker.com stats. Each physical bitcoin has a different fraction of digital BTC , as some coins carry .5 in BTC value while some hold a single BTC . Caldwell also made gold bars with bitcoins loaded onto them like the popular 100 BTC gold bar . There are Casascius physical bitcoins that hold 25 BTC and...

Wechat, the Chinese messaging app, has reportedly suspended accounts that are linked to non-fungible tokens (NFTs). The objective of the crackdown is to stop the use of the affected accounts in promoting NFTs. The Widening Crackdown on Digital Assets The Chinese messaging app Wechat recently acknowledged it had suspended some accounts which are said to be linked to non-fungible tokens (NFTs). The suspension of the accounts, according to a BBC report, is aimed at stopping such blacklisted accounts from engaging in NFT market promotional activities that help to drive up prices. The targeting of NFT-promoting accounts by Wechat appears to suggest that China, which currently does not have specific regulations against NFTs, is widening its crackdown on digital assets that began in 2021. As explained by multiple reports published by Bitcoin.com News, Chinese authorities have been clamping down on bitcoin miners and cryptocurrency exchange platforms since mid-2021. The crackdown is beli...

The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the same rate will be levied on crypto purchases. Indonesia to Start Taxing Crypto Income at 0.1% The Indonesian Directorate General of Taxes, the Ministry of Finance, has set income tax (PPh) on capital gains from crypto investments and value-added tax (VAT) on crypto purchases at 0.1%. Hestu Yoga Saksama, director of tax regulations for the Ministry of Finance, told CNN Indonesia Friday: That’s right, 0.1% PPh and 0.1% VAT (for crypto), all of which are final. He added that both the income tax and VAT on crypto purchases will be imposed starting May 1. According to the director, the Indonesian government has levied income tax and VAT on crypto purchases because the central bank, Bank Indonesia, and the Ministry of Trade consider crypto a commodity, not a means of payment. He clarified: Crypto assets will be subject to VAT...

PRESS RELEASE. To help traders earn more cryptocurrency, leading crypto derivatives exchange Bexplus has launched a 100% deposit bonus promotion to all traders. If you deposit 1 BTC , 2 BTC will be credited to your account. Every user can get up to 10 BTC for each deposit. Bitcoin’s high volatility has made a comeback and currently presents more opportunities for traders to make profits. Taking advantage of the price swings and leverage offered by brokers, trading can easily generate 100% or even 1,000% ROI. It’s important to point out only traders who know what they are doing can get to these returns consistently.Because leveraged trading is both high-yield and high-risk. How Does Leveraged Trading Work? Assume we use 1 BTC to open a long contract when Bitcoin is trading at $40,000. Please note that with 100x leverage, 1 BTC can open a contract worth 100 BTC . One day later, the price of Bitcoin increase to $45,000.The profit will be ($45,000 – $40,000) * 100 BTC /$45,000...

A lawsuit against Binance accusing the cryptocurrency exchange of selling unregistered crypto securities has been dismissed. The plaintiffs listed nine cryptocurrencies in the lawsuit. Binance’s Lawsuit Dismissed U.S. District Judge Andrew Carter dismissed a lawsuit against cryptocurrency exchange Binance Thursday. The motion to dismiss was filed by Binance and CEO Changpeng Zhao (CZ). The lawsuit (case no. 20-02803) was originally filed in April 2020 in the U.S. district court in the Southern District of New York. Binance is accused of violating U.S. securities laws by selling cryptocurrencies that are allegedly unregistered securities. The exchange is also accused of failing to register as a securities exchange or broker-dealer with U.S. regulators. The case involves nine cryptocurrencies — EOS , QSP, KNC, TRX , FUN, ICX, OMG, LEND, and ELF — which the plaintiffs bought through Binance’s online exchange starting in 2017. However, the coins soon lost significant value. The pl...

It’s been another bustling week full of colorful stories in the crypto world, with Rich Dad Poor Dad author Robert Kiyosaki talking about the U.S. dollar imploding, and advocating people buy bitcoin, ethereum, and solana — not to mention talk of Spacex founder and CEO Elon Musk potentially starting his own free speech-focused social media network. On top of all this, the Ukrainian government has launched a “Museum of War” NFT collection, and massive amounts of sleeping bitcoin are on the move. So, without further ado, here’s your bite-sized digest of the week’s hottest crypto news. Robert Kiyosaki Warns US Dollar ‘About to Implode’ — Advises Buying Bitcoin, Ethereum, Solana The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the U.S. dollar is “about to implode.” Among the investments he suggested are cryptocurrencies bitcoin, ethereum, and solana. Read More Elon Musk Giving ‘Serious Thought’ to Creating Social Media Platform With Free ...

The Colombian tax authority, DIAN, has reminded taxpayers that they need to start registering cryptocurrencies in their statements starting this year. The director of the DIAN, Lisandro Junco, reminded cryptocurrency users that this kind of asset is taxed as any other asset held by citizens. Colombia has already collected $1 billion in digital economy-related taxes. Colombian Citizens Must Start Including Crypto in Their Tax Statements The Colombian tax authority has reminded taxpayers about their duty of declaring cryptocurrency assets in their tax statements starting this year. In a consultation made by local media, the organization informed the public that it is empowered to perform verifications on the received data from taxpayers to ensure the correct application of the tax laws of the country. The director of the tax authority, Lisandro Junco, informed about crypto assets and their tax status in Colombia. He declared: You have to pay taxes even if it is an element of the d...

Members of the team of the now defunct Turkish crypto exchange Thodex may receive thousands of years in prison, if the court backs the prosecutor’s plea in the case. The trading platform’s CEO has been missing for the past year since Thodex suspended activities in a suspected exit scam. Turkey Seeks up to 40,000 Years Jail Time for Thodex Defendants Faruk Fatih Ozer, founder and chief executive of the crypto exchange Thodex, and another 20 people involved in its operations, should each get up to 40,564 years of jail time, according to a Turkish prosecutor. The indictment was quoted by Demiroren news agency and Hurriyet, about a year after the platform stopped trading. The defendants are accused of establishing a criminal organization, fraud, and laundering of proceeds from illicit activities. The 28-year-old Ozer has been missing since last year and is still wanted on a red notice from Interpol, despite efforts by Turkish law enforcement to locate him in several countries. He was ...

A high-ranking representative of the Ministry of Finance in Moscow sees no point in banning crypto mining in Russian households as it would be hard to restrict the activity. The top official also revealed that the department is currently finalizing regulations for the mining sector as part of efforts to legalize Russia’s crypto space. Russia Prepares to Legalize Cryptocurrency Mining Trying to prohibit at-home crypto mining makes no sense as it would be difficult to impose such a ban, according to Alexey Yakovlev, deputy director of the Financial Policy Department at the Ministry of Finance of Russia. He made the statement at a round table discussion devoted to the legalization and regulation of the industry. The ministry is now finalizing new provisions that would bring this crypto-related activity into the legal field, Yakovlev announced during a video conference call, quoted by the crypto news outlet Forklog. Russian authorities intend to put an emphasis on ensuring that activi...

A recent poll conducted by NBC News indicates that one in five Americans has used cryptocurrencies by either investing or trading digital assets. The findings suggest that crypto assets continue to become more popular as 21% of the 1,000 participants surveyed have “dabbled” in crypto assets. Survey Says 1 in 5 Americans Has Used Crypto Assets in Some Capacity Digital currencies have seen significant growth during the last year as the crypto economy is currently valued at $2.2 trillion at the time of writing. According to an NBC News poll , one in five American residents hass used cryptocurrencies in some fashion, and the popularity among men was significant. Male participants held the largest share of all the demographics surveyed as 50% of men between the ages of 18 and 49 said they have either invested in or traded crypto assets. The polled participants had different views about cryptocurrencies and the industry, and 56% of the surveyed individuals explained they were neutral or...

The head of Defiance ETFs says she is “completely bullish on bitcoin.” Noting that it is a “good time” to get into the cryptocurrency, she explained why she believes the price of bitcoin will reach $100K. CEO of Defiance ETFs Bullish on Bitcoin Sylvia Jablonski, chief executive officer, chief investment officer, and co-founder of Defiance ETFs, explained her bullishness on bitcoin despite recent price declines in an interview with CNBC Thursday. Defiance ETFs is an exchange-traded funds (ETFs) sponsor and registered investment advisor focused on thematic investing. Jablonski told the media outlet: I remain completely bullish on bitcoin. I think the short-term activity is just noise. She noted: “It looks as though, in terms of what we’ve seen for the last six months to a year or so, is that bitcoin is correlated with risk assets and equities specifically.” The executive explained that when investors see the crypto market rallying for a couple of days, they pile back into bitco...

Tesla CEO Elon Musk has shared a dogecoin video on Twitter in a conversation about bitcoin mining on April 1. He says, “this video explains everything.” Elon Musk Shares Dogecoin Video Tesla and Spacex CEO Elon Musk shared a video about the meme cryptocurrency dogecoin (DOGE) on April 1 in reply to a tweet about bitcoin by Brett Winton, Ark Invest’s director of research. In the tweet, Winton quoted a conversation about bitcoin mining where he seems to be having difficulty explaining to his mom on April Fools’ Day that bitcoin miners are computers. Replying with a meme video titled “Ð is for Ðogecoin” on the same day, Musk wrote: “Just show her this video explains everything.” The short video features the DOGE mascot on a journey to the moon. The shiba inu on a rocket passed bitcoin and other major cryptocurrencies as the price of DOGE soared. Winton replied to Musk: “A meme too far for her I’m afraid. (On the other hand, my 5-year-old is now frantically agitating to set up a Coi...