Bitcoin News and Finance: What You Need to Know

Digital asset exchange Binance has blocked accounts tied to relatives of government officials in Moscow. Amid mounting international penalties over Russia’s invasion of Ukraine, the trading platform said it will continue to check for users associated with sanctioned individuals. Crypto Exchange Binance Bans Children of Top Russian Figures Binance, the world’s leading cryptocurrency exchange, has blocked several accounts linked to relatives of some high-ranking members of Russian President Vladimir Putin’s administration, Bloomberg reported. The move comes as sanctions continue to rain on Russia in response to its military assault on neighboring Ukraine. Among the users who have been denied access in the past two months since the Russian troops crossed the Ukrainian border are the stepdaughter of Foreign Minister Sergei Lavrov, Polina Kovaleva, and Elizaveta Peskova, the daughter of the Kremlin spokesman Dmitry Peskov. Binance also banned Kirill Malofeev, the son of Russian oligarc...

PRESS RELEASE. LBank Exchange is an innovative crypto assets trading platform with 6.4 million global users. Since the start of its journey, LBank Exchange has continuously expanded in the global market, serving users in over 210 countries and regions worldwide, with features including spot and grid trading, derivatives, finance, NFT marketplace, and many more. For better catering to users’ needs, LBank Exchange has strived to select better, more promising projects for listing and to classify them in a more orderly manner. To make user’s investment experience even smoother, LBank Exchange recently announced a brand new feature called Innovation Zone for spot trading projects, which will soon be launched on its platform. New projects with growing potential that are lesser-known compared to popular projects will be gathered in Innovation Zone, so that users can make their investment choices more easily and wisely, as well as providing a place where these projects can truly shine. Fo...

Eric Schmidt, a former Google CEO whose net worth is $22.8 billion, reveals that he has put “a little bit” of money into cryptocurrency. He added that he finds Web3’s economics “interesting,” noting that the platforms and the use patterns are interesting. Ex-Google Chief Eric Schmidt Discusses Crypto Investing and Web3 Former Google CEO and Chairman Eric Schmidt talked about cryptocurrency investing and Web3 in an interview with CNBC, published Thursday. Schmidt served as the CEO of Google from 2001 to 2011. He stayed on as executive chairman until 2017 and technical advisor until 2020. His net worth is currently $22.8 billion according to the Bloomberg Billionaire Index. Regarding his own crypto investment, he revealed that he has invested “a little bit” of money into cryptocurrency, without naming any coins specifically. He further clarified that he’s just getting started investing in crypto. The 67-year-old explained that for him, the most interesting part of blockchain is Web...

Global investment bank Goldman Sachs has reportedly offered its first-ever loan backed by cryptocurrency. The cash loan was collateralized by bitcoin owned by the borrower. A spokesperson for Goldman Sachs explained that the deal is interesting to the investment bank due to its structure and 24-hour risk management. Goldman Sachs and Bitcoin-Backed Loans Global investment bank Goldman Sachs has offered its first-ever cash loan backed by bitcoin ( BTC ), Bloomberg reported Thursday. A spokeswoman for the bank explained to the publication that the secured lending facility lent cash collateralized by bitcoin that is owned by the borrower. She further noted that the deal was interesting to Goldman Sachs because of its structure and 24-hour risk management. Goldman Sachs has been increasingly friendly to cryptocurrency. In March, the investment bank featured cryptocurrencies, the metaverse, and digitalization on its homepage. The firm sees the metaverse as an $8 trillion opportunity ....

The Argentinian government has taken the first steps in the launch of its own central bank digital currency (CBDC). A new decree identified the number 207/2022 gives new faculties to the Argentinian mint to involve in the investigation, development, and issuance of digital currencies. This puts Argentina on the trail of countries like Brazil and Mexico, that are already involved in the development of their e-currencies. Argentina Prepares the Field for a CBDC The government of Argentina is preparing the legal field for future issuance of its own central bank digital currency, the digital peso. In a decree approved and published on April 26 with the number 207/2022, the Argentinian government modified the functions and faculties of the national mint, giving it new responsibilities and possibilities. In these new faculties, the decree includes capture and digital processing of data, images, codes, sounds, and microchips, software design and development, implementation of digital sec...

On April 29, photography-focused tech start-up Picture This is finally launching the ‘Polar Bear’ NFT, which raises awareness and money towards climate change and the impact humans have on our planet. Digital artworks have seen a booming rise in sales and popularity since the start of the decade. Minting art as an NFT has enabled artists to reach audiences in ways earlier not fathomable. Now, the photography community is finally entering the NFT space. One devotee is Christian Houge. For decades, the artist’s dramatic photography has provoked a strong emotional response from international museums and art institutions like the California Museum of Photography, Auction Paris, and Three Shadows Photography Art Center in Beijing, among others. This week, Houge is officially expanding his internationally renowned art from gallery walls to the blockchain. — At first, I was naturally sceptical of NFT art, being an analogue ‘old school’ photographer working for years to finalise my climate...

In recent times, cryptocurrencies that burn tokens have been very popular and a number of well known blockchain projects have destroyed large sums of digital assets. While a number of crypto projects have different burn schemes, the overall effect is usually the same, as destroying tokens reduces the circulating supply. Blockchain Projects Burn Tokens for Specific Benefits and Objectives Burning tokens has been a popular trend and articles often highlight specific projects like Ethereum, Terra, Shiba Inu, and many more that have destroyed large sums of native tokens. $SHIB burn portal is a huge success!👺🔥 — Shiba Inu to $1 (@ShibInform) April 28, 2022 Six days ago, Bitcoin.com News reported on the Shiba Inu (SHIB) developers launching a burn portal, which allows shiba inu holders to burn their stash of SHIB. In that particular case, SHIB burners are rewarded for destroying their tokens. SHIB currently has a burn rate of around 180.18% during the past 24 hours. 1/ The o...

The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no minimum purchase required. Digital Yuan Pilot Continues China’s central bank, the People’s Bank of China (PBOC), continues to test its central bank digital currency (CBDC) with another digital yuan giveaway. The government of Shenzhen’s Futian district has announced that 15 million yuan ($2.27 million) in digital RMB (e-CNY) will be given to local residents Friday, Global Times reported. It will be divided into 130,000 red packets and given away by raffle via Wechat payment. Consumers can spend the red packets at nearly 5,000 stores in the district with no minimum purchase required, the publication conveyed, adding that this is the first time that the issuance of digital yuan includes all eight pilot banks and a range of sectors including restaurants and supermarkets. This is not the...

PRESS RELEASE. Artizen is a metaverse specialised company based on blockchain technology. We are preparing metaverse services by integrating various contents through NFT Marketplaces, NFT Projects and more. Artizen’s unique ecosystem, which is transparent and safe, is provided by organically linking real and virtual spaces. ATNT is a utility token from Artizen, which has its initial listing on MEXC. Announcement on MEXC: https://support.mexc.com/hc/en-001/articles/6030143038745–Initial-Listing-MEXC-will-List-ARTIZEN-ATNT-and-Launch-the-MX-DeFi-Session News on Smart Liquidity: https://smartliquidity.info/2022/04/24/artizen-mx-defi-mining-session/ Punk Panda Is a Genesis Project Containing Its Own Unique Rarity These 2D NFT pandas will be converted into 3D pandas so that you can enjoy P2E (Play to earn) on metaverse. You can also obtain ATNT tokens through mining as well as enjoying various membership benefits. TPP Mining Game for Everyone to Enjoy, Targeted for Launch by the...

Indian Finance Minister Nirmala Sitharaman says that the country’s crypto policy will not be rushed. “Our intention is in no way to hurt the ecosystem, or to even say that we don’t need it,” she added. Finance Minister on Indian Crypto Regulation India’s finance minister, Nirmala Sitharaman, discussed cryptocurrency regulation Wednesday at a fireside chat organized by Stanford University School of Medicine. She explained that India will not rush to finalize the country’s crypto policy. On the contrary, she said India will take an informed decision after due deliberations across multilateral fora, the Mint reported. Sitharaman admitted that blockchain technology has the potential to improve India’s economy. “Blockchain is full of potential not just in the payments arena but also in many others,” she described, adding: Our intention is in no way to hurt the ecosystem, or to even say that we don’t need it, but to define for ourselves how we need them and in what ways their growth s...

While there’s a number of bitcoin whales that often get caught by blockchain parsers and written about in media reports, ethereum whales get a lot less attention. According to statistics in 2022, there are a lot more ethereum whales than holders with large sums of bitcoin. In fact, while the top 100 richest bitcoin addresses control 14.08% of the circulating supply, the top 100 richest ethereum addresses hold 39.81% of all the ether today. Data Shows Ethereum Still Has a Large Concentration of Whales in 2022 Ethereum, the second-largest crypto asset in terms of market capitalization, has an overall USD valuation of around $348 billion. Ethereum’s market cap represents 18.3% of the $1.89 trillion crypto economy’s net value. While the leading crypto asset has been around for close to seven years, 100 addresses command 39.81% of the current ether in circulation. However, after subtracting the Ethereum 2.0 Contract address, which holds 10.06% of the current ether in circulation, 99 wea...

Russian Ministry of Finance has accepted a number of crypto regulatory proposals submitted by the country’s law enforcement departments. They cover a range of related areas, including the seizure of digital assets and the reporting of information on cryptocurrency transactions. Finance Ministry of Russia Backs Regulations Proposed by Law Enforcement Agencies Russia’s Ministry of Finance (Minfin) has supported some regulatory ideas regarding cryptocurrencies put forward by the nation’s law enforcement services, the daily Izvestia unveiled this week. The ministry is responsible for drafting the legislation that will introduce comprehensive rules for the nation’s crypto space, which is only partially regulated at the moment. The new bill “On Digital Currency” is expected to be filed with the State Duma, the lower house of Russian parliament, in May. A number of government institutions have provided feedback and suggested amendments to the draft, including several relevant ministrie...

The Central Bank of Russia has recently proposed authorizing traditional stock exchanges to operate in the digital assets market. Industry watchers say the regulator aims to provide investors with an option to trade cryptocurrencies in a controlled environment. Russian Stock Exchanges to List Digital Financial Assets, Central Bank of Russia Suggests Stock exchanges and central clearing counterparties may be allowed to facilitate the trading of digital financial assets (DFAs), a collective term encompassing cryptocurrencies and tokens under current Russian law. The proposal was put forward by the Central Bank of Russia ( CBR ) at a meeting with exchanges, brokers, and information system operators, a group of entities to which crypto platforms pertain. Representatives of the Moscow Exchange, SPB Exchange, major brokers, and information system operators that have the right to issue digital financial assets met with Bank of Russia officials behind closed doors on Tuesday, the Kommersan...

According to a research report, $1.3 billion in digital currencies have been stolen during the first quarter of 2022. The study, published by cryptomonday.de researchers, further highlights that 97% of the stolen funds derived from decentralized finance (defi) protocol exploits. Defi Exploits Account for Lion’s Share of Stolen Crypto This Year 2022 is already breaking records in terms of stolen cryptocurrencies from hacks and exploits. Last year, $3.2 billion in digital currencies were stolen and so far, 2022 has recorded over 40% of 2021’s aggregate during the first quarter alone. The recorded stolen crypto data stems from a report published by cryptomonday.de and the study’s author, Elizabeth Kerr. The report’s author says “the numbers signify a major spike.” For instance, out of the $1.3 billion in digital currencies stolen this year, 97% of the funds were taken from defi protocols. In Q1 2021, only 72% of the stolen funds derived from defi and in 2020, the number was as low a...

Comparing the rise of crypto assets to the gold rush, a top executive at the European Central Bank has urged governments to take action to prevent “a lawless frenzy of risk-taking.” Speaking in the U.S., the ECB official called for a global regulatory clampdown on cryptocurrencies and stepping up efforts to issue central bank digital currencies. ECB’s Fabio Panetta Lashes Out at Crypto Assets, Says They Fail to Fulfill Promise A century and half after Americans pushed westward to seek fortune, a growing distrust of banks and technological innovation have led to a new, digital gold rush beyond state control, Fabio Panetta, member of the Executive Board of the European Central Bank (ECB), said in a recent address at Columbia University in New York. In his speech, which the eurozone’s monetary authority published this week under the title “For a few cryptos more: the Wild West of crypto finance,” the high-ranking ECB official remarked that the cryptocurrency market is now larger than ...

Cambodian authorities have reportedly said that no cryptocurrency company has been issued a business license yet, and that conducting cryptocurrency-related activities in the country is still illegal. Fintech Industry Growing Rapidly The Cambodian government has not greenlighted the issuing or use of any cryptocurrency in the country, a report has said. The report, which cites a document recently released by the Ministry of Finance and Economics, said it is still illegal to create, distribute, or trade cryptocurrencies in Cambodia. According to a China News Service report , while the ministry does concede that the fintech industry is growing rapidly, it nonetheless reiterated that the long-standing ban on crypto trading remains in force. As previously reported by Bitcoin.com News, Cambodian authorities announced in 2018 that the circulation or trading of cryptocurrencies without a license was illegal. At the time, authorities warned that crypto activities had the potential to cau...

The Nepal Telecommunications Authority has issued a warning that crypto activities are illegal. The regulator emphasized that websites, apps, and online networks related to crypto activities are prohibited to be used, operated, or managed within the country. Nepalese Regulator’s Crypto Warning Nepal’s regulator of the technology sector, the Nepal Telecommunications Authority (NTA), issued a notice Monday warning the public about engaging in illegal activities, specifically naming cryptocurrency, bitcoin, and online gambling. Noting that transactions using digital technologies, such as cryptocurrency, have been on the rise in Nepal, the NTA stressed that websites, apps, and online networks related to crypto activities are prohibited to be used, operated, or managed within the country. The regulator proceeded to warn the public that activities involving cryptocurrencies, including bitcoin, are “illegal and criminal,” elaborating: If anyone is found to be doing or have done such ac...

Deutsche Bank’s economists have warned that the U.S. will suffer a major recession next year. However, several other major investment banks, including Goldman Sachs and JPMorgan, are less pessimistic about the future outlook for the U.S. economy. Major US Recession Incoming, According to Deutsche Bank’s Economists Deutsche Bank has predicted a deeper downturn than its previous forecast for the U.S. economy in a report to clients, published Tuesday. The bank’s economists, including David Folkerts-Landau, group chief economist and head of research, explained in the report why the coming recession will be worse than expected. They described: We will get a major recession, but our strongly held view is that the sooner and the more aggressively the Fed acts, the less longer-term damage to the economy there will be. The report explains that it will take a long time before inflation falls back to the Fed’s goal of 2%. The authors warned that the central bank will likely engage in the ...

A survey by crypto trading platform Bitstamp shows that 80% of institutional investors believe crypto will overtake traditional investment vehicles. Furthermore, 70% of institutional investors said crypto was a trustworthy investment, with 68% actively recommending this asset class in investment strategies. Institutional Investors Bullish About Crypto Bitstamp, a major crypto derivatives trading platform, announced the results of its first-ever Crypto Pulse Survey Monday. A total of 28,563 respondents from 23 countries across North America, Latin America, Europe, Africa, the Middle East, and Asia-Pacific participated in the survey. Among them, 5,450 were senior institutional investment strategy decision-makers and 23,113 were retail investors. According to the survey results: “88% of institutional respondents and 75% of retail investors believe that crypto will see mainstream adoption within a decade.” In addition, Bitstamp said: A further 80% of institutional investors reported...

The Bank of Spain has issued a new report that touches on the subject of the popularity of cryptocurrency usage and the possible effects it might have on the financial stability of the nation. In the document, the bank explains that these assets — which ostensibly don’t have any kind of support behind them — can introduce systemic risks via their adoption by traditional institutions and the lack of regulation over them. Crypto Assets Could Cause Systemic Risks According to the Bank of Spain The Bank of Spain has issued a new report where it warns about the growth of the cryptocurrency economy and its possible effects on the traditional economic system. According to the report, while the cryptocurrency market is still considered limited, its exponential growth and the fact that most of the value of the market comes from cryptocurrency assets without support, could pose risks for the global economy. This “systemic risk” is explained by the growing links between crypto and the tradit...

The AFIP, the Argentinian tax agency, is supporting the creation of a centralized system that serves as a registry for cryptocurrency holders. According to statements from its head, this would make it easier for tax agencies all over the world to curb evasion. The organization has already made use of financial information to collect taxes from Argentinian users with bank accounts abroad. Argentinian Tax Agency Backs Crypto Holder Registry Creation The AFIP, which is the Argentinian national tax collecting agency, wants to advance its efficiency in the collection of crypto-related taxes. In this sense, the organization has voiced its public support for creating a cryptocurrency holder registry, by making changes to include the digital assets in the current automatic exchange data system operated by the Organization for Economic Co-operation and Development (OECD). The head of the AFIP, Mercedes Marco del Pont, stated at an event that: It is necessary to include electronic money, d...

The National Assembly of Panama has advanced a cryptocurrency law project that seeks to regulate cryptocurrency activity to give more clarity to the sector in the country. The proposal, which was approved in the first discussion, was composed of two different projects presented to the economic affairs commission of the Assembly. Panama Moves to Regulate Crypto Assets Panama is taking steps to regulate crypto assets and the businesses that use them in the country. The National Assembly of the country, which is the highest legislative organization in Panama, has taken the first step toward regulating the use of cryptocurrencies. The institution has approved in the first debate a cryptocurrency law project titled “Law that regulates the commercialization and use of crypto assets, the issuance of digital value, the tokenization of precious metals and other goods, payment systems and other provisions.” The proposed law includes definitions and concepts about cryptocurrencies, blockchain...

At the end of May last year, Tesla’s Elon Musk convinced bitcoin industry leaders to form a Bitcoin Mining Council (BMC) and in mid-July, the BMC launched its public services and website. On April 25, 2022, the organization published a report that discusses the bitcoin mining industry’s improvements in sustainable energy use during the first quarter of 2022. The BMC report’s findings show Bitcoin’s electricity usage dropped by 25% in Q1 2022 compared to the year prior. Bitcoin Mining Council Publishes Q1 2022 Covering Mining Industry’s Sustainable Power Mix and Technological Efficiency According to the latest Bitcoin Mining Council (BMC) report, the bitcoin mining industry continues to improve its sustainable energy use and technological efficiency. The Q1 2022 survey conducted by the BMC, showcases three metrics which include: “electricity consumption, technological efficiency, and sustainable power mix.” BMC researchers managed to survey roughly 50% of the network’s hashpower, w...

Abu Dhabi Global Market has awarded a full financial license to crypto exchange Kraken. “Kraken will be the first global virtual assets exchange group in the UAE to offer investors the ability to invest, trade, withdraw and deposit virtual assets (bitcoin and ether) directly in local AED currency,” the regulator explained. Kraken Establishes Middle East Headquarters Abu Dhabi Global Market (ADGM) announced Monday that cryptocurrency exchange Kraken has become “the first global virtual assets exchange group in the UAE to receive a full financial license from ADGM.” Abu Dhabi Global Market is an international financial center and free zone in Abu Dhabi, the capital of the United Arab Emirates (UAE). It is the largest regulated jurisdiction of virtual asset activities in the Middle East and North Africa (MENA) region. The regulator explained: Kraken is the first global cryptocurrency exchange to receive a Financial Services Permission (FSP) license to operate a regulated virtual as...

Buzzwords like NFTs, Web 3.0, and blockchain domains have infatuated everyone in the tech and crypto of late. The term Web 3.0 is now a part of everyday conversation. However, you won’t seem serious about it until you own an NFT domain. Web 3.0, the internet of tomorrow, is an umbrella term that combines different ideas aimed at a single goal, bypassing the big intermediaries from the internet. There is no need to use giants like Google, Meta, or Twitter on this new web. One of the important pillars of building the internet of tomorrow is simplification. This is where Quik.com plays an integral role in pushing innovations for Web 3.0. Quik is a marketplace for blockchain domains that address one of the core missions of the next internet revolution; offering direct ownership to end-users without any intermediaries. “NFT domains are an exciting development in the decentralized internet. They can change how we use the internet with an added layer of security, functionality, and tran...