Bitcoin News and Finance: What You Need to Know

European institutions are closing crypto loopholes for Russia with the latest package of penalties imposed by the EU over Moscow’s aggression against Ukraine. The new sanctions prohibit the provision of “high-value” crypto-asset services to Russian entities and residents. EU Limits Russian Crypto Wallet Deposits to €10,000 Expanding its sanctions in response to the Russian military assault on Ukraine, the European Union has again targeted cryptocurrencies. On Friday, the European Commission, the executive body in Brussels, welcomed the fifth round of restrictions agreed upon by the Council of the EU. They have been tailored to “further contribute to ramping up economic pressure on the Kremlin and cripple its ability to finance its invasion of Ukraine.” The new Council regulation, published in the Official Journal of the European Union, bans the provision of “high-value” crypto-asset services to the Russian Federation. It applies to crypto wallet, account, or custody services fo...

Billionaire Paypal co-founder Peter Thiel has compiled a list of bitcoin’s enemies, the “finance gerontocracy” he said is stopping the price of the cryptocurrency from soaring a hundred times. Berkshire Hathaway CEO Warren Buffett tops the list. Thiel called him “the sociopathic grandpa of Omaha.” Peter Thiel Unveils List of Bitcoin’s Enemies Billionaire Paypal co-founder Peter Thiel shared his list of enemies stopping bitcoin from rising 100x Thursday while speaking at the Bitcoin 2022 conference in Miami, Florida. The “enemies list [is] a list of people who I think are stopping bitcoin,” he said. “There’s a lot of them, they tend to have nameless faceless bureaucrat perspectives, which is of course one of the ways they hide.” Thiel continued: We are going to try to expose them and realize that this is sort of what we have to fight for bitcoin to go up 10x, 100x from here. “The central banks are going bankrupt. We are at the end of the fiat money regime,” he said. The first p...

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has predicted that trillions of dollars will flow into cryptocurrencies, particularly bitcoin. In addition, he said bitcoin mining will “save the world.” O’Leary Says ‘Spigots of Capital’ Will Flood Into Crypto Like You’ve Never Seen Shark Tank star Kevin O’Leary gave a keynote speech at the Bitcoin 2022 conference Thursday. He said that based on his experience in the indexing business, “massive pools of capital, these trillion-dollar pools” are waiting for policy. They currently own zero or very little crypto. “It’s the purvey of high net worth individuals, hedge funds, and retail investors,” he clarified. Mr. Wonderful detailed: What we’re missing is policy. When we get policy and the regulator regulates, that’s not a negative thing. The spigots of capital are going to flood into this sector like you’ve never seen. “So for those of us that can invest in it now, you are going to get ahead of what’s going to be a huge wave of i...

The mayor of the U.S. city of Miami, Florida, has unveiled his “Vision for Bitcoin America 2024.” Stressing that the U.S. needs to elect a pro-bitcoin president, he said “we need to integrate bitcoin into every aspect of our society” this year and “unleash the macro power of bitcoin.” Miami’s Mayor’s Vision of Bitcoin America Miami Mayor Francis Suarez talked about bitcoin at the Bitcoin 2022 conference that’s taking place in his city this week. The pro-bitcoin mayor has led several bitcoin initiatives in his city and state. His salary is already paid in bitcoin and his city employees can choose to be paid in bitcoin. “I need to articulate a vision for this country,” he said. “The vision is simple. I call it: Vision for Bitcoin America 2024.” Suarez explained that it has three points, stating: The first is we need to elect pro-bitcoin candidates, and yes the next president of the United States has to be a pro-bitcoin candidate. “Because what’s at stake is federal legislation th...

Global markets company and Chicago-based derivatives exchange CME Group plans to launch 11 new reference rates tied to specific crypto assets. The reference rates and real-time indices bolstered by CF Benchmarks are typically leveraged by exchange-traded products and other investment vehicles. 11 Crypto Assets Get Reference Rate Treatment From CME Group and CF Benchmarks CME Group is adding 11 more cryptocurrencies to the firm’s existing bitcoin and ethereum reference rates. Crypto reference rates like the CME CF Reference Rates are often used as a benchmark for exchange-traded funds (ETFs) and other financial products. The new rates cover polygon, solana, stellar, algorand, bitcoin cash, cardano, chainlink, uniswap, cosmos, litecoin, and polkadot values. Pricing data for the benchmarks will be provided by Bitstamp, Coinbase, Gemini, Itbit, Kraken, and LMAX. Each coin will leverage two exchanges, CME Group’s announcement discloses. “As the digital asset market continues to expand...

The head of the South African central bank has insisted that regulators and policymakers should be involved in directing any potential move to markets that are based on distributed ledger technology (DLT). Pondering the Implications of Innovation The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has argued that central banks, regulators, and policymakers should and must play a role in “shaping a potential move to DLT-based markets.” According to Kganyago, these stakeholders can achieve this objective by “pondering the implications of innovation, promoting responsible innovation for the public good.” In addition, they can also do this by “informing an appropriate policy and regulatory response.” In his virtual address following the launch of the Project Khokha 2 (PK 2) report, Kganyago shared his views concerning the future of central banks in a world that is based on the principles of decentralization. He said: From a regulatory perspective, I think it is...

Sky Mavis, the company behind the play-to-earn (P2E) game Axie Infinity, announced it has raised $150 million in a funding round to replenish the funds the company lost in the Ronin Network exploit. The funding round — which was led by Binance and had the participation of companies like Animoca Brands, a16z, Dialectic, Paradigm, and Accel — constitutes part of the actions the company is taking to recover its ecosystem and reimburse users. Sky Mavis Raises Funds to Replenish Its Ronin Bridge Sky Mavis, the operator of Axie Infinity, a recognized play-to-earn (P2E) video game in the Web3 ecosystem, has finally announced the actions it will take to recover the funds lost and restore trust in its Ronin Network. The company revealed a funding round where it raised $150 million, led by Binance with the participation of companies in the play-to-earn field like Animoca Brands, and other firms like a16z, Dialectic, Paradigm, and Accel. On the participation of Binance in this round, Changpe...

Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digital currency (CBDC). The governor, however, warns the launch might have implications for financial stability. BON Researching CBDCs The BON governor, Johannes Gawaxab, recently confirmed that the central bank is now planning to launch a CBDC. He confirmed the BON has already started researching CBDCs which, according to him, are now a “reality” that cannot be ignored. In remarks published by Namibia Daily News, Gawaxab hinted that the increased interest in privately issued cryptos may have forced the central bank to act. He said: The number and value of cryptocurrencies have surged, raising the possibility of a financial world operating outside the control of governments and central banks. There is thus a need for central banks to have a clear digital currency agenda to reinforce Central Bank authority over money and maintain control over the payment sy...

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has outlined the implications of India issuing a central bank digital currency, the digital rupee. ”I think central banks would go about it in a very calibrated, graduated manner, assessing impact all along the line,” he explained. RBI’s Deputy Governor Discusses Indian Central Bank Digital Currency RBI Deputy Governor T. Rabi Sankar talked about the country’s central bank digital currency (CBDC) Thursday at an event organized by the Indian Council for Research on International Economic Relations (ICRIER). He also outlined potential implications on India’s financial system and monetary policy, PTI reported. The RBI will issue a central bank digital currency this financial year, Finance Minister Nirmala Sitharaman announced during her budget speech in February. Prime Minister Narendra Modi described that the digital rupee will be the digital form of India’s physical rupee and will be regulated by the RBI. “The digital rupe...

A crypto-friendly special economic zone in Honduras has adopted bitcoin as legal tender, allowing the cryptocurrency to be used to pay taxes and fees. In addition, bitcoin bonds can be issued within its jurisdiction using “world-class standards for AML and KYC.” Bitcoin Operates as Legal Tender in Próspera Próspera, a special economic zone located on the island of Roatan in the Western Caribbean and the Northern Corridor of Honduras, announced Thursday that it has adopted bitcoin as legal tender. Referring to Próspera as “crypto-friendly,” the announcement details, “Bitcoin and other cryptocurrencies effectively operate as legal tender within its jurisdiction.” A spokesperson for Próspera told Bitcoin.com News: Próspera has no capital gains taxes, which means that bitcoin and other cryptocurrencies effectively operate as legal tender in the jurisdiction. “Residents and businesses in Próspera may transact using bitcoin, Honduran Lempiras, U.S. dollars, or any other currency of t...

Amid the Ukraine-Russia conflict, the Russian ruble has managed to rebound despite the strict sanctions imposed against the Russian Federation. The country’s central bank has taken a few steps to protect the nation’s currency as the Bank of Russia revealed a fixed price for gold and rubles. Furthermore, after pegging the fiat currency to gold, on Friday Russia’s central bank announced a surprise interest rate cut that starts Monday. EU Leaders and Western Allies Create Stricter Sanctions Amid Ruble Rebound At the end of February, after the conflict started between Ukraine and Russia, the European Commission and Western allies imposed strict restrictions on the Bank of Russia’s international reserves. The sanctions sparked bank runs and the Russian ruble dropped to record lows against the U.S. dollar. With harsh sanctions still imposed against Russia and the conflict still taking place, European leaders are planning to stop Russian coal imports. On Friday, European Union (EU) leade...

With the current concerns around global energy usage, combined with increasing requirements for data processing services, many countries previously supportive of centralized data processing businesses are investigating the impact of these businesses and how they mitigate a requirement for continuous energy distribution to all sectors – commercial and private. Data processing services consume large amounts of energy in a localized physical space. The combination of energy consumption and physical footprint expansion is impacting the continuous and uninterrupted distribution of energy creating an unsustainable demand from both the commercial and private sectors. To ensure continuous availability across all markets, countries are limiting supply, terminating supply or stopping new operating licenses. However, demand for data processing requirements is not diminishing, it is growing and so alternative data processing solutions are required. Spreading energy consumption with decentralized...

Certik, a Web3 and blockchain auditing and security firm, has raised $88 million in its recent B3 funding round. The round, which was led by Tiger Global and included Goldman Sachs as an investor in the firm, gives the company a valuation of $2 billion. This doubles the valuation that Certik reached via its last funding round in November 2021. Certik Reaches $2 Billion Valuation Certik, a blockchain auditing firm, has closed its Series B3 financing round with a significant increase in investments. The company raised $88 million, with Tiger Global, Insight Partners, and Advent International leading the round, and with the participation of Goldman Sachs and other current investors. With this funding round, the company has managed to reach a valuation of $2 billion, doubling the numbers it obtained in its Series B2 funding round in November 2021, which gave it a valuation of $1 billion. Regarding how the company has managed these funding rounds and their successes, Ronghui Gu, founde...

Cryptocurrency exchange Coinbase has announced that it is launching full-scale crypto trading in India with Unified Payments Interface (UPI) support. However, moments later, the National Payments Corporation of India (NPCI), which developed UPI, stated that no crypto exchange is using the UPI system. Coinbase Launches in India, Hit With UPI Problem The Nasdaq-listed cryptocurrency exchange Coinbase announced Thursday at an event in Bengaluru that its trading platform will be fully available for retail traders in India. The company said that customers will be able to buy cryptocurrencies on Coinbase using the Unified Payments Interface (UPI), the most widely used payment method in India. Coinbase began testing UPI payments a few weeks ago. However, the company did not disclose the names of its banking partners for UPI payments. UPI, an instant real-time payment system developed by the National Payments Corporation of India (NPCI), accounts for 60% of retail payment traffic in the c...

Following the Luna Foundation Guard’s (LFG) purchase of 5,040 bitcoin on Wednesday, the following day the Singapore-based non-profit announced it will be acquiring $100 million avalanche (AVAX) tokens. LFG detailed on Thursday that the purchase is meant to strategically align the Terra network with Avalanche ecosystems. LFG to Add $100 Million in Avalanche Backing to UST Reserve On Thursday, the Luna Foundation Guard announced that it inked a deal with the Avalanche Foundation to acquire $100 million worth of AVAX , the Avalanche blockchain’s native asset. LFG is a non-profit dedicated to fostering decentralized finance (defi) via the Terra (LUNA) network and the blockchain’s algorithmic stablecoin UST. LFG detailed that the goal behind purchasing AVAX was meant “to help bolster its UST Decentralized Forex Reserve and strategically align the two ecosystems.” Both LFG and the Avalanche Foundation will be handling the transaction in an over-the-counter (OTC) fashion. AVAX will beco...

PRESS RELEASE. Facebook transformation to Meta a conceptual displacement towards Metaverse and Web 3.0, crypto and NFTs (non-fungible tokens) are perceived by the global community as a game changing leap forward with a huge potential. The estimated number of global crypto users is 106 million people in the world. 13% of Americans bought or traded crypto in the past 12 months. (By comparison, only 24% of Americans invested in stocks). Even bigger companies such as Tesla or Square have up to 7-10% of their assets in cryptocurrency. In 2021 investors poured a record $30 billion into crypto. Armaldia is a fantasy metaverse globe. It is an economic, social, MMO unique cryptogame using BNB chain (BInance smart chain). The universe is composed of 198k revenue generating land plots that can be purchased as NFT. A pivot is a war. War is the main amusement and money provider. The builder game includes construction, production of resources and trade. Crypto and Web 3.0 as the edge of ...

On Thursday, the payments and checkout and shopper network, Bolt has announced the firm plans to acquire the digital currency provider Wyre in a $1.5 billion deal. Bolt has explained the acquisition is aimed at bolstering cryptocurrency services and “the opportunity of Web3.” Payments and Checkout Firm Bolt Acquires Wyre The e-commerce platform Bolt has revealed a definitive agreement to acquire Wyre , according to the company’s press statements published on Thursday. According to the Wall Street Journal (WSJ), the deal was one of the largest crypto firm acquisitions in terms of financial settlement size in 2022, as the WSJ report noted the acquisition was roughly $1.5 billion. The official Bolt press release does not disclose the financial details of the acquisition deal. The announcement explains that the companies aim to “decentralize commerce” and “simplify digital shopping.” Both Bolt and Wyre plan to “close the transaction and fully integrate before the end of the year, an...

The metaverse will become the most popular place to buy, sell, and trade cryptocurrency, according to a recent survey. In addition, 70% of respondents agreed that “cryptocurrency and blockchain technology advancements will be critical to shaping the future of the metaverse.” Survey: Metaverse Will Be the Most Popular Place for Crypto Nasdaq-listed Agora (NASDAQ: API), a video, voice, and live interactive streaming platform, conducted a survey on the metaverse and published the results Tuesday. The company asked 300 U.S.-based developers a set of questions “to learn more about what they thought about the metaverse and what we will see in the coming years,” Agora detailed. Developers were surveyed because for them, “the growth of the metaverse allows the development of new communities and allows them to better connect with users,” the company explained. According to the results: 57% of respondents think that the metaverse will become the most popular place to buy, store and trade...

The crypto space is growing at a rapid pace, and it’s beginning to change major industries around the world. Even with the widespread of crypto, some people still do not have any idea of what it is. According to a survey mabe by Financial Conduct Authority (FCA), three in 10 people in the UK can’t correctly identify the definition of cryptocurrency from a selection of possible answers. The importance of crypto education can’t be overemphasized, with the accelerating growth of crypto adoption, there are key things to be aware of, for example, you need to know how to DYOR (Do Your Own Research). Having a solid foundation in crypto and financial education will help you to understand the evolution of the crypto space. Financial education is important for every individual to function in their everyday life, ranging from business owners to investors, etc. Business owners need this knowledge to make wise business decisions, likewise investors. Unfortunately, getting well-structured Crypt...

The Central Bank of Russia has turned down a proposal to allow the use of digital currencies for the purpose of sanctions evasion. The monetary authority believes this is hardly an option as Western regulators are already taking steps to prevent such transactions. Employing Bitcoin to Evade Sanctions Not Possible, Central Bank of Russia Says Bank of Russia considers it impossible to use cryptocurrencies to circumvent financial restrictions imposed over the military conflict in Ukraine. That’s according to a statement by the central bank’s First Deputy Governor Ksenia Yudaeva, issued in a reply to a proposal by a member of the State Duma, the lower house of Russian parliament. Anton Gorelkin, a lawmaker from the ruling United Russia party, had suggested that Russian companies and individual entrepreneurs should be allowed to make payments in digital currencies, including for settlements with foreign partners. He thinks the establishment of a Russian national crypto infrastructure ...

A newly established Ukrainian charity organization, Pray4Ukraine, has brought together hundreds of digital artists that are using art to raise funds for the Ukrainian army and civilians devastated by the war. The organization is also attempting to use the power of art to help end the war in Ukraine. 10,000 NFTs Created A newly launched Ukrainian charity project, Pray4Ukraine, has brought together hundreds of the country’s digital artists who have created 10,000 NFT art pieces. Working in concert with Pray4Ukraine, the artists hope to raise funds that will be used for humanitarian aid and to support the country’s armed forces. In a statement, the Pray4Ukraine team also revealed the charitable organization has already launched the sale of its NFT collection which consists of 9,930 artworks. According to the statement, the funds raised from the sale will go directly to the wallet of Come Back Alive , another charitable foundation that has been on the “humanitarian frontline since May...