Bitcoin News and Finance: What You Need to Know

On May 5, 2022, at block height 735,000, the bitcoin mining pool Poolin mined the 105,000th block reward since the last halving. The mined block also represents the halfway point to the next halving that is estimated to take place on or around April 27, 2024. Block 735,000 follows the network issuing over 19 million bitcoin and the hashrate reaching an all-time high three days ago on May 2. Block 735,000: Halfway to the Next Halving The Bitcoin network is getting closer to the next halving which is estimated to happen on or around April 27, 2024 , or 723 days from now. At block height 735,000, the 105,000th block was mined and there’s now 105,000 left to go until the next halving. At the time of writing, data shows that there’s 104,928 block subsidy rewards left to mine. Presently, bitcoin miners get 6.25 BTC for a block reward and the fees associated with the confirmed transactions. Poolin earned the 6.25 BTC and 0.16215354 BTC worth of network fees associated with the block re...

California Governor Gavin Newsom has signed an executive order on crypto and blockchain to create a comprehensive and harmonized framework for Web3 technology to thrive. “California is a global hub of innovation, and we’re setting up the state for success with this emerging technology,” said the governor. California’s Governor Issues Executive Order on Blockchain and Crypto The governor of the U.S. state of California, Gavin Newsom, signed an executive order Wednesday to “create a transparent and consistent business environment for companies operating in blockchain, including crypto assets and related financial technologies,” according to a notice published by the office of the governor. The notice states: California becomes the first state in the nation to begin creating a comprehensive and harmonized framework for responsible web3 technology to thrive. Under Governor Newsom’s executive order, the state will also “assess how to deploy blockchain technology for state and publi...

Tesla and Spacex CEO Elon Musk has secured $7.139 billion in new financing commitments to fund his acquisition of Twitter, including from several pro-crypto companies. Cryptocurrency exchange Binance, for example, has committed to invest $500 million in the social media platform alongside Musk. Crypto-Friendly Companies Join Elon Musk to Buy Twitter Tesla CEO Elon Musk has secured funding from 18 companies to purchase Twitter Inc., his filing with the U.S. Securities and Exchange Commission (SEC) on Thursday shows. The SEC filing explains that Musk received equity commitment letters from these investors on May 4 “providing for an aggregate of approximately $7.139 billion in new financing commitments” in connection with his proposed acquisition of Twitter. Some pro-crypto companies are on the list of investors, including Sequoia Capital Fund which committed $800 million, crypto exchange Binance which committed $500 million, AH Capital Management (aka Andreessen Horowitz, a16z) whi...

High-end fashion house Gucci will begin accepting cryptocurrencies at some of its stores this month, including bitcoin, ether, dogecoin, and shiba inu. The company plans for all of its directly operated stores in North America to accept crypto by this summer. Gucci to Start Accepting Crypto Payments Italian high-end luxury fashion house Gucci will start accepting cryptocurrency payments in five stores later this month, Vogue Business reported Wednesday. The five stores are located in New York City (Wooster Street), Los Angeles (Rodeo Drive), Miami (Design District), Atlanta (Phipps Plaza), and Las Vegas (The Shops at Crystals). Gucci will accept bitcoin, bitcoin cash, ethereum, wrapped bitcoin, litecoin, dogecoin, shiba inu, and five stablecoins pegged to the U.S. dollar, the publication conveyed. These coins are the ones supported by popular crypto payment service provider Bitpay, which also supports GUSD, USDC, USDP, DAI, and BUSD stablecoins. Marco Bizzarri, the president and...

The Dubai virtual assets regulator, the Virtual Assets Regulatory Authority (VARA), has established its metaverse headquarters in The Sandbox virtual world. By establishing a presence in the metaverse, the regulator said it hopes to make itself accessible to all stakeholders. World’s ‘Virtual Assets Capital’ Dubai’s digital assets regulator, the Virtual Assets Regulatory Authority (VARA), has established its metaverse headquarters (HQ) in the virtual world of The Sandbox, a statement from the regulator has said. The regulator said its objective for setting up the metaverse HQ is to ensure VARA “is accessible to its industry in their environment.” VARA is also expected to help facilitate engagement between virtual asset service providers (VASPs), industry influencers, and global regulators. According to the statement, by making this move, the Dubai regulator is signaling a willingness to make the Emirate “the world’s Virtual Assets Capital.” Maintaining Dubai’s Lead In remarks fo...

Brubank, one of the first Argentinian digital banks approved by the central bank of the country, is getting into the cryptocurrency business. The company announced it is now allowing customers to make cryptocurrency investments via its platform, giving them the ability to purchase crypto assets in its app. This is reportedly the second financial institution that is providing these services in the country. Brubank Introduces Cryptocurrency Services Private Banks in Argentina are starting to see the value of offering cryptocurrency services to their customers amidst a crypto boom in the country. Brubank, an all-digital financial institution licensed by the country’s central bank, has reported it is now offering cryptocurrency purchase services in its app. The bank announced this new functionality on social media when answering an inquiry from a customer about the new options on the platform. Brubank stated : Yes, we already have crypto! It is a functionality that is being progress...

Bankoff, a platform offering virtual cards that could be topped up with cryptocurrency, has told customers its cards are no longer supported by payment systems Visa and Stripe. They allowed Russians to pay abroad after major processors restricted their services in the country. Visa and Stripe Halt Support for Bankoff Cards Payment processors Visa and Stripe have halted services for cards issued by Bankoff, the online banking platform informed clients on Tuesday, May 3. In a notice, a copy of which was posted on social media, the company explained that the suspension was due to the increased number of active users and transactions from Russia. “It means our cards are no longer supported for any offline and online payments,” the Bankoff team elaborated. The neobank also revealed that its funds in a U.S. account had been frozen, assuring customers it’s currently working to restore access to the money. Representatives of Bankoff have confirmed the development to Forklog. The crypto...

Web3 platform Infinite Arcade launches batch 3 Gamer NFTs sale. The Gamer (avatar) NFTs act as access keys to unlock play & earn on the platform. The games are free-to-play, each set. The first 2 batches of the Genesis Gamer NFTs were sold out very quickly. Now the last stage of NFTs sale starts and it will be held for those players only who are Whitelisted. Infinite Arcade has launched a month ago. It makes it possible for developers and creators to connect with players in a marketplace in order to create a common economy. Infinite Arcade is like an arcade in the metaverse. Users can own part of the ecosystem and gain from its growth, as well as be rewarded for their time spent in the game and contribution to the community. By now players are enjoying 15 live P2E games. About 200 games will be launched in the near future on this exclusive metaverse Web3 platform. Players can earn TIC, the utility token of the Infinite Arcade. To get access to the platform one should use the Game...

Several U.S. lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) have voiced concerns about the securities regulator expanding its crypto enforcement unit. “The SEC is a regulatory agency with an enforcement division, not an enforcement agency.” Lawmakers Oppose SEC’s Crypto Enforcement Focus A number of lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) slammed the securities watchdog Tuesday for focusing on crypto enforcement. This followed the SEC’s announcement that the agency nearly doubled the size of its crypto enforcement unit. SEC commissioner Hester Peirce, also known in the crypto community as “crypto mom” for her pro-crypto stance, commented on Twitter: The SEC is a regulatory agency with an enforcement division, not an enforcement agency. Why are we leading with enforcement in crypto? Congressman Patrick McHenry (R-N.C.) tweeted stating that SEC Chair Gary Gensler’s regulation by enforcement “is stif...

Joe Rogan, the host of The Joe Rogan Experience, likens bitcoin to the early internet. Noting that now the cryptocurrency is “a viable form of currency” that “You can actually buy things with,” he said, “the government is freaking out.” Joe Rogan, Bitcoin, and the Government Famous podcaster Joe Rogan, the host of The Joe Rogan Experience, talked about bitcoin on his show, posted Tuesday. The show features an interview with UFC light heavyweight fighter Khalil Rountree Jr. The Joe Rogan Experience is one of the world’s most popular podcasts with a back catalog of more than 1,800 episodes — each receiving millions of views regularly. In February, The New York Times reported that Spotify paid over $200 million for Rogan’s podcast, which is now exclusively available on the platform. “I think about bitcoin the same way I think about the early internet,” Rogan told Rountree. Noting that the government “didn’t see it coming,” he said: Now it’s a viable form of currency. You can actual...

Billionaire hedge fund manager Paul Tudor Jones expects crypto to have a bright future as the Fed hikes interest rates to fight inflation. The famed investor emphasized, “It’s hard not to want to be long crypto.” Famed Hedge Fund Manager Paul Tudor Jones on Bitcoin, Crypto Billionaire investor and renowned hedge fund manager Paul Tudor Jones talked about bitcoin in an interview with CNBC Tuesday. Jones is the founder of asset management firm Tudor Investment Corp. “I see this generational divide and it’s a digital divide,” the billionaire said. “If you look at the smartest and brightest minds that are coming out of colleges today, so many of them are going into crypto, so many of them are going into the internet 3.0,” he noted, adding: It’s hard not to want to be long crypto because of the intellectual capital, just the sheer amount of intellectual capital that’s going into that space. “Clearly, if you think about the ultimate dream of crypto, it’s a borderless internet where a...

Decentralized Finance (DeFi) represents the financial, blockchain-based world of tomorrow. Future generations will leave the traditional financial system behind and use dApps, tokens, and other digital innovations for economic purposes. However, DeFi is still in its infant stage, leaving room for scams, money laundering, and other criminal activities. Without secure solutions and educational services, DeFi could become more of a risky venture than an enriching opportunity for individuals and businesses. Here is where STACKD Finance steps in, to help develop DeFi into a safer, more transparent, and sustainable economic environment. Read on to discover its vision, utilities, and services! What is STACKD Finance? STACKD Finance is a project seeking to take the DeFi industry to a new level. Its cryptocurrency ecosystem aims to provide an ultimate standard of trust and security by offering various services to tokens and individuals and by helping to bridge fiat and DeFi. This way, ST...

On Wednesday, the world’s largest family-owned banking institution, LGT Bank, announced that it has selected SEBA Bank in order to provide cryptocurrency custody and brokerage services to clients. LGT will start by offering investments in bitcoin and ethereum and the bank’s customers can incorporate the digital assets into their existing LGT Bank-managed portfolios. LGT Bank Adds Crypto Services by Partnering With the FINMA Licensed SEBA Bank The largest family-owned private banking and asset management firm LGT Group has revealed the parent company’s banking institution will now offer crypto investment opportunities. LGT Group is over 100 years old and the financial institution is owned by the princely House of Liechtenstein. On May 4, SEBA Bank , a FINMA licensed digital assets banking platform, revealed that LGT Bank has chosen SEBA as a cryptocurrency partner. LGT will leverage SEBA’s regulated crypto platform and custody services so the bank’s clientele can invest in crypto a...

South Korean law enforcement recently announced the arrest of a serving military captain and an operator of a cryptocurrency exchange on charges of spying for a North Korean hacker. In return for the acts of espionage, the two South Korean individuals were allegedly paid bitcoins worth a total of $637,789. South Korea’s Joint Command and Control Targeted Two South Korean citizens, a businessman running a crypto asset management firm and a serving captain of the country’s army, were arrested on suspicion of passing military secrets to a North Korean hacker. In exchange for passing on the sensitive information, the individuals were allegedly paid in bitcoin worth $600,000 and $37,789, respectively. In an AFP report , South Korean law enforcement is quoted stating that the arrest was the first time a civilian and an active-duty military captain have been caught spying for North Korea. With respect to the captain, whose name has not been identified, the country’s authorities said the i...

Minting of NFT domains with exclusive TLDs like .chain, .metaverse, .vr, .doge, .shib, .bored is now live on the Quik’s NFT domain marketplace ! Each of these TLDs has a domain minting limit ranging from 1k to 20k, and they work on a first-come, first-serve basis, so ensure that you don’t miss out on your favorite domain. There are no renewal fees, and it comes with a unique NFT artwork. You can use Quik NFT domains to create your digital identity and become a part of Web 3.0, the internet of tomorrow! Quik is a blockchain-based marketplace that allows users to mint, purchase, and sell NFT domains with minimum effort without any third parties. What are NFT Domains? At first glance, NFT domains look like traditional domain names. But, upon closer assessment, you will discover that blockchain-based domain names have different functionalities and are superior with added functions. Those running a website know the hassle of annual renewal of their domain names or risk losing it to th...

The Ugandan central bank has warned licensed entities and the public against facilitating crypto-related transactions as well as the practice of converting cryptocurrency into mobile money and vice versa. The central bank warned it will not hesitate to act against entities found to be in breach of the country’s laws. No Entity Issued License to Trade Cryptos The central bank in Uganda recently issued a statement reminding the public that no business is licensed to offer or facilitate cryptocurrency-related services. The statement warned licensed entities to end the practice of converting crypto to mobile money and vice versa. According to a report in the Monitor, the warning — which came from Andrew Kawere, the director of payments at the Bank of Uganda (BOU) — comes less than three years after the country’s finance minister Matia Kasaija made similar remarks. In the report, Kawere is quoted reiterating the central bank’s position. He said: “Bank of Uganda has noted press reports ...

On May 2, 2022, a report stemming from the broadcast television and radio network the National Broadcasting Company (NBC), 100,000 Cubans are leveraging crypto assets. The report says increased crypto usage is due to the fact that Cubans cannot use certain payment vehicles due to the sanctions placed on Cuba by the United States. 100,000 Cubans Bypass Payment Bans via Crypto NBC has published a video report that indicates roughly 100,000 Cubans are using digital currencies like bitcoin. For instance, one particular Cuban cafe owner, Nelson Rodriguez, who accepts bitcoin and ethereum, was interviewed by the NBC news team. He explained that he “believes in the philosophy” behind crypto assets. While showing a number of antique cars still driven by Cubans today, the NBC reporter further says Cubans are embracing the future. 100,000 Cubans using crypto assets is largely due to the increased internet performance during the last three years, the report claims. Another Cuban entrepreneur...

Reggie Fils-Aimé, the former president of Nintendo of America, has offered his take on blockchain and play to earn models when applied to the gaming industry. The executive declared that he was a big believer in blockchain technology, and that players investing their time in games should be able to monetize whatever items they had gained. Former Nintendo President Believes Blockchain Elements Can Be Used in Gaming While the opinion of blockchain and play-to-earn technologies is still negative among traditional gamers, some veterans of the gaming industry seem to be taking these elements in a more serious way. This is the case of Reggie Fils-Aimé, an executive that was President of Nintendo of America from 2006 to 2019 when he announced his retirement. Fils-Aimé was very clear about his opinion on the role that these new technologies could play in gaming, and in a recent panel at SXSW, he stated : I’m a believer in blockchain. I think blockchain as a technology is really compelli...

According to a recently published study by Merchant Machine, mobile wallets are predicted to have 4.4 billion users by 2024. Merchant Machine’s findings show the global pandemic propelled the popularity of digital wallets and researchers expect the numbers to grow from 44.50% of the population in 2020 to 51.70% by 2024. Half the World’s Population Will Leverage Mobile Wallets in 2 Years, Study Says The use of mobile wallets has grown a great deal since the start of the Covid-19 pandemic and a study published by Merchant Machine predicts growth will continue. The researchers note that since 2015, the total revenue generated by mobile wallet applications has tripled, and by 2022, it’s expected to be around $1,639.5 trillion. “The safety, security, and convenience of digital wallets, as well as the popularity of smartphones and general digitalisation of society, were among the main reasons for the popularity of this method,” Merchant Machine’s study details. Furthermore, the research...

PRESS RELEASE. Singapore, May 3, 2022 – NFTs have disrupted the gaming industry with their unique benefits. It has been gaining popularity as many have welcomed the advent of play-to-earn (P2E) for considerable rewards, with also disquiet over the unwelcome intrusion of commerce into the escapist world of gaming. Web3 games are supposed to consist of two things people crave — entertainment and the possibility of making money, with the scales not tipping to either end. Shaking work-to-earn off from play-to-earn space is undoubtedly an urgent mission for all builders. Launched in 2022, ArchLoot intends to provide an ideal practice of blending playability and sustainability with profitability in the new era of GameFi 2.0. Using the lessons learned from play-to-earn development, the game has been balanced and enhanced, keeping the core elements of what made the P2E model attractive, while incorporating interactive NFT technology that could not be implemented in any other games before....

PRESS RELEASE. Zug, Switzerland – 2nd May 2022. UniX Gaming is delighted to announce that they are now officially listed on MEXC, a top 20 exchange, following the announcement of their Final Round launchpad . This is the second CEX on which UniX has been listed, with several more planned for later this year. UniX token holders will be able to deposit their tokens in the MEXC wallet, and trading will begin at 2 p.m. UTC on May 2nd. MEXC users will be able to deposit, withdraw, and trade UniX tokens, providing token holders with a highly liquid exchange. “This is the second centralised exchange listing we’ve had this year, and we are so excited to announce more over the next several months. It has been a great year for us so far with our ‘Final Round’ launchpad in partnership with DAO Maker and SL2 Capital having just been announced. We are extremely grateful for our community’s support so far, and we’re excited to share more soon,” stated Mirko Basil Doelger , the co-founder and ...

Wikipedia has decided to stop accepting cryptocurrency donations after eight years of doing so. The decision is based on the request by the Wikimedia community citing “issues of environmental sustainability” as a key reason. Wikipedia Discontinues Accepting Bitcoin, Crypto Donations Wikimedia Foundation has announced its decision to “discontinue direct acceptance of cryptocurrency as a means of donating.” The foundation began accepting bitcoin in July 2014. “The Wikimedia Foundation is the nonprofit that hosts Wikipedia and our other free knowledge projects,” its website details. Wikipedia is a free online encyclopedia with over 200K volunteer contributors, according to the foundation. The organization posted an update on its Wikipedia page on May 1, stating: We began our direct acceptance of cryptocurrency in 2014 based on requests from our volunteers and donor communities. We are making this decision based on recent feedback from those same communities. “Specifically, we wil...

PRESS RELEASE. Football Superstars such as: Roberto Carlos Mario Yepes David Trezeguet Michel Salgado Fernando Hierro Lucas Radebe, Invite you to a Global Metaverse of Lydian.World exclusive event. The event will take place on the 7th of May 2022 in Dubai Opera. As a first offline event of such scale where thousands of guests from all over the world will gather to become a part of Lydian.World metaverse. Guests are invited to take part in multiple business opportunities and multiple entertainment moments. Lydian.World is a virtual game partially owned by its users which in reward for their engagement and strategy the game rewards them back in cryptocurrency. In other words, the place where you can Earn, Learn & Have fun! If this already rings a bell for you, join Lydian.World! The metaverse brings opportunities such as: staking pools, crypto credit cards sharing their commissions, mining pools, assisted trading, NFT marketplace, a trivia game over the blockchain, a lot...

Three Nigerian nationals are accused of using money laundering proceeds to buy bitcoin worth over $43 million from cryptocurrency exchange platforms like Binance and Busha. The trio is accused of moving an equivalent of over $215 million from Nigeria to Kenya between October and November 2020. Powerful Kenyan Politician Assists the Alleged Money Launderers The global law enforcement agency, Interpol is seeking to conclude a case where three Nigerian nationals are believed to have used money laundering proceeds to buy bitcoins worth over $43 million, a report has said. Three Kenyans including an unnamed powerful Kenyan politician are accused of having aided the Nigerian trio in their efforts to conceal the exact motive for moving the funds. According to a report by the Kenyan publication, the Nation, a probe by Interpol found that the trio could have transferred over $215 million (25 billion Kenyan shillings) from Nigeria to Kenya between October and November 2020. Once the funds ...

The revenues accrued by the Ethereum network rose by 46% from $1.6 billion to $2.4 billion during the first quarter of 2022. Contributing to the growth in the network’s revenues were non-fungible token (NFT) marketplace sales, which rose by more than 19,000% during the period under review. ETH Inflation Rate Drops to 0.51% Ethereum’s revenues rose by 46% from $1.6 billion to $2.4 billion during the first quarter of 2022, a new report by Bankless has said. According to the report, about 87% or $2.1 billion of this revenue was removed from the ETH ’s circulating supply through the burning mechanism. The token burning mechanism was made possible by the network’s EIP-1559 upgrade that was carried out in August 2021. As a consequence of this token burning process, the ETH network’s inflation rate — a metric that measures the net change in the supply of ethereum tokens — dropped from 1.10% to 0.51% during Q1. In terms of the average of daily active addresses, the report states that t...

PRESS RELEASE. NFTs are not a temporary trend. NFTs are here to stay. Although analysts are still in the process of realizing the full potential that the technology behind ‘Non-fungible tokens’ offers, much is already clear. Beyond being used to certify the authenticity of artwork, the applicability of NFT technology extends to many other fields and harbors some natural synergies with the next generation of gaming. Battle Borgz is on top of this trend. Battle Borgz are developing a unique NFT-based PvP and PvE battle game built on the Cardano ecosystem, promising gamers an experience that not only rewards enthusiasts with countless hours of engaging gameplay but also an opportunity to earn some passive income on the side. Traditionally, the relationship between the gamers and the developers has been one-sided – customers enjoy the experience while developers monetize their playtime. Battle Borgz is different. By drawing on the blockchain and NFT technology which has enabled t...