Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. Aloha Browser is paving the way towards a decentralized web with the recent Handshake (HNS) integration. Now websites with HNS names automatically resolve within the Aloha Browser without additional configuration. Aloha has always focused on privacy and security for its users and is now at the forefront by having a revolutionary browser for Web3. There are currently more than 28 million monthly active users on Aloha’s mobile apps for Android and iOS. With this release, an Aloha desktop browser is now available too. Download Aloha Browser here . Aloha Browser has several first of its kind Web3 features, making this a must-have for Web3 enthusiasts. While Web3 is multifaceted from DeFi to NFTs, having a Web3 enabled browser at the center is just as important as the browser was for the Web2 user experience. Handshake aims to be the base of the web by decentralizing the DNS root zone and replacing the need for centralized Certificate Authorities (CAs) through DNS-base...

BTC fell to its lowest level since last July, as prices dropped below $33,000 to start the week. The selloff in cryptocurrency started last week, following the Fed’s decision to hike interest rates by 0.5%. In addition to bitcoin, ETH hit a two-month low as a result of the red wave. Bitcoin Bitcoin slipped to a ten-month low to start the trading week, as a red wave continued to sweep the cryptocurrency market. Following five consecutive days of declines, BTC /USD dropped to an intraday low of $32,813.31 on Monday. Today’s bottom is the lowest level prices have traded since July 23 last year, when prices went on to drop below $30,000. Weakness in cryptocurrency markets has been present since the beginning of April, however following last Wednesday’s rate decision, a new chapter of the downturn seems to have commenced. As a result of the last fall in price, the 14-day RSI is now tracking at a low of 29.50, which is its weakest point since January 26. Should we see this level be...

The government of Venezuela is now focusing its action on trying to establish the bolivar as the go-to currency for purchases in the country. According to several economists, this might be a risky bet in a country that has just exited hyperinflation and still suffers high levels of inflation. However, the establishment of a 3% tax targeting expenses in foreign currency and crypto is having some effects in this regard. Venezuela Seeks to Strengthen Its Fiat Currency After having defacto dollarization, which the president of the country called an “escape valve” from the economic crisis that Venezuela had faced five years ago, now the country is seeking to establish its fiat currency, the bolivar, as an interesting choice for payments. A new tax called the IGTF, which seeks to tax transactions and payments made in dollars, foreign currency, and crypto at 3% in some instances, seems directed to aid in achieving this purpose. However, this might not yet be the time for such adjustments...

PRESS RELEASE. GensoKishi Online -Meta World- is developed under the license of the well-known Japanese 3D MMO title “Elemental Knights Online.” The iconic game has a 14-year history and has accumulated 8 million downloads worldwide. It already has a 3D MMORPG game with active users, with a fully-functioning 3D metaverse that simultaneously connects users worldwide, be it smartphones, PCs, or video game consoles. The game recently announced its collaboration with gaming legend Yoshitaka Amano to design its NFT collection. Since the release of the GensoKishi website and various social media channels on December 2, 2021, GensoKishi has achieved several records to date. The governance token of the GensoKishi is currently more than 50 times higher than the initial listing price of Bybit, the first exchange to list MV token. GensoKishi Online has opened up applications to enter the Closed Alpha Bronze Tickets lottery. Winners of the lottery will be provided exclusive access to Ge...

The African fintech industry has grown rapidly over the past few years and this has caught the attention of some well-resourced venture capital (VC) firms. As one would expect, Nigerian fintech startups have dominated the continent in terms of funds raised or the number of transactions performed. Nigeria’s Burgeoning Fintech Scene This dominance has convinced VCs to pour tens of millions of dollars into different Nigerian fintech projects. In fact, a few fintech startups that originated in Nigeria, the continent’s most populous country, have managed to secure funding in excess of $100 million. Using the funds raised, the fintech startups have not only expanded their footprint across the African continent but have increased the number of services they offer. Overall, the rapid growth of the fintech industry is said to have benefitted many financially excluded people from Africa. However, critics of Nigeria’s fintechs have argued that some of the VC-backed startups appear intereste...

Leading U.S. crypto exchange Coinbase has reportedly notified certain Russian customers that their accounts may be blocked at the end of this month. According to Russian media, the trading platform has offered them to withdraw their funds unless they prove they are not under sanctions. Coinbase Reportedly Asks Russian Clients to Withdraw Funds Some Coinbase users from Russia have received letters informing them that their accounts will be blocked on May 31, the crypto page of the Russian business news portal RBC reported. The company suggested that these customers withdraw their funds unless they provide documents indicating they are not subject to EU sanctions, the publication explained quoting the correspondence, which stated: Until May 31, 2022, you must withdraw all funds from your account or provide us with special documents that confirm that you do not fall under these sanctions. After that date, the funds may be frozen and all assets transferred to the accounts in the fut...

According to a Gallop poll published on May 2, the public’s confidence in America’s current economic leaders has been deteriorating. Confidence in U.S. president Joe Biden managing the U.S. economy has dropped from 57% to 40%, and faith in Federal Reserve chair Jerome Powell has faltered from 55% to 43%. The April 2022 Gallop poll, published amid the highest inflationary pressure the country has seen in decades, indicates trust in economic leaders is at its lowest point since 2008. Americans Are Not Confident in Current Leaders Managing the Economy After the largest monetary expansion the country has seen in its entire lifetime, faith in America’s economic leaders is “flagging,” according to a recently published Gallop poll . The poll was conducted via telephone interviews on April 1-19, 2022, with 1,018 adult U.S. residents. The Gallop poll particpants resided in all 50 states and the District of Columbia. Furthermore, the survey was done before U.S. gross domestic product report...

The U.S. Securities and Exchange Commission (SEC) has halted a $62 million global cryptocurrency trading and mining scheme and the Department of Justice (DOJ) has indicted its CEO and founder. If convicted of all counts, he faces a maximum total penalty of 45 years in prison, the Justice Department. SEC Halts $62M Global Cryptocurrency Fraud Scheme The US Securities and Exchange Commission (SEC) announced Friday that it has halted a fraudulent crypto mining and trading scheme. The SEC charged MCC International (aka Mining Capital Coin), its founders (Luiz Carlos Capuci Jr. and Emerson Souza Pires), and two entities controlled by them. The charges are “in connection with the unregistered offerings and fraudulent sales of investment plans called mining packages to thousands of investors,” the agency noted. The securities watchdog detailed that since at least January 2018: MCC, Capuci, and Pires sold mining packages to 65,535 investors worldwide and promised daily returns of 1 perc...

Another whirlwind week in crypto draws to a close, and of course there’s no shortage of spicy stories and new, compelling narratives in the world of innovative digital money. This week, Elon Musk gives investment advice, United States Securities and Exchange Commission chair Gary Gensler catches flack from SEC commissioner Hester Peirce, and Joe Rogan calls bitcoin a viable currency, noting that it’s got the government “freaking out.” Buckle up and look lively, this is the Bitcoin.com News Week in Review. Joe Rogan: Bitcoin Is Now a Viable Currency and the Government Is Freaking Out 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. Noting that now bitcoin is “a viable form of currency” that “You can actually buy things with,” he said, “the government is freaking out.” Read More Lawmakers, SEC Commissioner Slam Chair Gensler for ...

PRESS RELEASE. The blockchain ecosystem is growing exponentially. It has brought prosperity to most African countries by creating wealth for individuals and fast economic growth for their people. However, many believe that the region is yet to tap into its full potential, that is, leveraging blockchain technology to build a solid ecosystem. As a result, there has been an increasing global interest in Africa recently, with many prominent investors and companies looking to invest in this promising continent. LBank has set up shop in various locations across Africa as pioneers of the next generation of crypto and blockchain users, collaborating with other African ventures such as Adanian Labs who share a similar desire to help these countries realise their full potential. Specifically, Adanian Labs is a Pan African venture building studio with a mission to build, incubate and launch impact-driven technology companies and entrepreneurs working to solve some of Africa’s most pertinent ...

Many of the financial pyramids identified in Russia during the first quarter of the year have been associated with cryptocurrencies, a top central bank official has revealed. Fraudsters are actively exploiting the hot topics of the day, including the sanctions theme. Pyramids Offer Russian Investors Ways to Circumvent Western Sanctions Amid growing financial uncertainty, Ponzi schemes advertising opportunities to invest in digital assets are mushrooming in Russia. Of all financial pyramids detected by regulators in the first three months of 2022, well over half have used cryptocurrency as a lure. “Schemes based on transfers using cryptocurrencies or investments in ‘digital instruments’ have received another impetus,” Valery Lyakh, director of Bank of Russia’s Department for Combating Unfair Practices told Tass news agency. More than 58% of the pyramids identified by Russian financial authorities in the first quarter of this year were linked to cryptocurrencies, Lyakh detailed. As...

An apartment in Portugal has changed hands, with the buyer paying directly in cryptocurrency in a reported first for the country. The home was purchased for 3 bitcoins without conversion to euros, under a new regulation permitting real estate deals with digital currencies. Buyer Pays With Bitcoin for Apartment in Braga, Portugal A three-room (two-bedroom) apartment in the Portuguese city of Braga has been bought with cryptocurrency without any conversion to fiat money. Local media reports have described the deal as a first in the history of the country’s real estate market. The new owner paid 3 bitcoins ( BTC ) for the home, worth around 110,000 euros at the time the purchase took place. The title deed was transferred in Porto’s Póvoa de Varzim district this past Thursday, May 5, the business news portal Idealista unveiled. The purchase was made with the help of real estate agency Zome, the law firm Antas da Cunha Ecija, and partners from Switzerland’s Crypto Valley. The Chairman ...

On May 6, the financial services company Robinhood announced the firm has listed Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE). Robinhood customers can now gain access the crypto investment products in order to get exposure to bitcoin or ethereum without actually owning the digital currencies. In Addition to Cryptos, Robinhood Adds Grayscale’s GBTC and ETHE This week Robinhood added GBTC and ETHE to the company’s platform and the firm’s brokerage account customers can now buy or sell GBTC and ETHE stock and options commission-free. There's two new ways to access crypto on @RobinhoodApp . You can start trading $GBTC and $ETHE today. https://t.co/n09aiEVhqE https://t.co/6tFrYCsmzx pic.twitter.com/AxKH7xZ0nS — Grayscale (@Grayscale) May 6, 2022 Robinhood adding GBTC and ETHE investment products follows the firm rolling out its crypto wallet during the first week of April. On April 12, 2022, Robinhood listed shiba inu (SHIB), compound (COMP), polygon (MATI...

On May 5, Tron’s algorithmic stablecoin USDD went live and so far, the fiat-pegged token has been listed on a number of decentralized finance (defi) protocols. Two days later, the Tron DAO Reserve announced it purchased 504.6 million tron ( TRX ) to back the algorithmic stablecoin, as the project aims to leverage a decentralized forex reserve similar to Terra’s UST reserves. Tron DAO Reserve and Justin Sun Reveal a $38 Million TRX Purchase Terra’s UST reserve system is becoming a popular scheme, and Tron’s USDD stablecoin project is following the pattern. Bitcoin.com News reported on Tron’s algorithmic stablecoin project on April 21, and since then the fiat-pegged crypto asset has officially launched. The project has a number of partners now and USDD is listed on Pancakeswap, Kyberswap, Sunswap, Sun.io, Curve Finance, Uniswap, and Ellipsis. According to tronscan.org , there’s approximately 211,245,005.49 USDD at the time of writing. Statistics show on Saturday, May 7, 2022, Unis...

The U.S. Securities and Exchange Commission (SEC) has charged Nvidia Corp. for failing to disclose that crypto mining significantly boosted its revenue. The company agreed to a cease-and-desist order and to pay a $5.5 million penalty. Nvidia Failed to Disclose That Crypto Mining Was a Significant Element of Its Material Revenue Growth The U.S. Securities and Exchange Commission (SEC) announced settled charges against technology company Nvidia Corporation Friday “for inadequate disclosures concerning the impact of cryptomining on the company’s gaming business.” The securities watchdog explained that during consecutive quarters in Nvidia’s fiscal year 2018: The company failed to disclose that cryptomining was a significant element of its material revenue growth from the sale of its graphics processing units (GPUs) designed and marketed for gaming. As demand for and interest in cryptocurrency rose in 2017, Nvidia customers increasingly used gaming GPUs for crypto mining, the SEC n...

Google is establishing a Web3 team within its cloud unit, noting that “it is a market that is already demonstrating tremendous potential.” A Google executive explained: “We’re providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises.” Google Creating Web3 Team Within Cloud Unit Google’s cloud unit is creating a team to build services for developers who are composing their own Web3 software and running blockchain applications, CNBC reported Friday. Amit Zavery, a vice president and head of the Google Cloud, informed employees in an email on Friday that the aim of the initiative is to make the Google Cloud platform the first choice for developers in the field. He wrote: While the world is still early in its embrace of Web3, it is a market that is already demonstrating tremendous potential with many customers asking us to increase our support for Web3 and crypto related technologies. The new Web3 t...

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued its first-ever sanctions on a crypto mixer. The mixing service was used by Lazarus Group to process illicit proceeds from the $620 million crypto heist of the online game Axie Infinity, said the Treasury Department. Treasury Department Sanctions Crypto Mixer The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced Friday that it has sanctioned crypto mixer Blender.io (Blender). According to the OFAC, this mixing service is used by the Democratic People’s Republic of Korea (DPRK) “to support its malicious cyber activities and money-laundering of stolen virtual currency.” The announcement explains that on March 23, Lazarus Group, a DPRK state-sponsored cyber hacking group, carried out the largest cryptocurrency heist to date, worth almost $620 million, of a blockchain project linked to the online game Axie Infinity. The OFAC added: Blender was used in processing o...

A U.S. senator has introduced a bill to prohibit the Labor Department from issuing a regulation or guidance that limits the type of investments investors can choose in their retirement plans, including cryptocurrency. “Today, the Biden administration is targeting cryptocurrency. Which investment class is next?” the lawmaker stressed. Financial Freedom Act The issue of what investments Americans can put in their retirement accounts has become a hot topic in Washington. In March, the Department of Labor issued guidance warning employers and investment firms against allowing cryptocurrency investments in retirement plans. Responding to the Labor Department’s crypto warning, U.S. Senator Tommy Tuberville (R-AL) introduced the Financial Freedom Act Thursday. The lawmaker described the bill as “legislation to prohibit the U.S. Department of Labor (DOL) from issuing a regulation or guidance that limits the type of investments that self-directed 401(k) account investors can choose through...

The last five weeks has been brutal for digital currencies as more than 21% has been shaved off the crypto economy’s fiat value since March 27. While all the crypto assets combined shed roughly 0.8% in the last 24 hours, bitcoin has lost 9.4% since last week and seven day statistics show ethereum has dropped 8.1% against the U.S. dollar. Since the crypto economy’s significant losses, the stablecoin UST has managed to take the top ten market capitalization among 13,439 crypto assets. 3 Stablecoins Hold Top 10 Positions, Terrausd Enters the 10th Spot Today, three stablecoins now command a position in the top ten largest cryptocurrency market capitalizations. While tether ( USDT ) and usd coin (USDC) have been in the top ten for quite some time, Terra’s UST is now holding the top ten spot since the crypto economy’s market conditions turned red. Another fundamental that pushed UST higher is the fact that the algorithmic stablecoin’s market valuation expanded by 12.3% over the last 30 da...

Bitcoin fell to its lowest level in over two months, as Friday’s non-farm payrolls report showed an addition of 428,000. It was expected that last month’s payrolls would show an increase of 391,000 jobs — lower than March’s figure of 431,000. ETH also fell on the news, hitting a six-week low. Bitcoin Bitcoin fell by nearly 10% in today’s session, as traders continue to react to recent action by the Federal Reserve to hike interest rates. Today’s drop, which sees prices of BTC /USD hit an intraday low of $35,714.30, also comes as markets were preparing for the latest non-farm payrolls report. Friday’s drop sees bitcoin slip for a second consecutive session, with prices now trading at their lowest level since February 24. Despite slipping to a more than two-month low, there could be more declines ahead, as prices appear to be moving toward a floor of $34,050. Looking at the chart, this latest fall in prices has pushed the RSI towards a one-month low of 35.50, which is a point tha...

Authorities in Georgia are now holding discussions with industry representatives to finalize a bill designed to regulate coin trading, among other crypto-related activities. The legislation will be presented to the Georgian society this fall at the latest, a top central bank official announced. Central Bank of Georgia Talks Crypto Regulation With Market Players The National Bank of Georgia (NBG) is fine-tuning a draft law tailored to establish a legal framework for certain operations with cryptocurrencies with the help of interested parties from the sector. Public and business officials are currently holding talks on the new legislation, the bank’s Vice Governor Papuna Lezhava revealed, quoted by Sputnik Georgia. He stated: We are working on a bill regulating cryptocurrency, and now it is at the stage of consideration with market participants. The final document will be made public either in the summer or in the fall. The law will regulate several crypto-related areas at once, t...

New Zealand-based venture capital firm Global From Day 1 (GD1) recently said it had launched a $5 million Web3 and crypto-focused venture capital fund to back local startups. The fund will invest in pre-seed to Series A companies across decentralized finance (defi), decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), and Web3. GD1’s Web3 and Crypto Strategy In a boost for New Zealand-based startups and local investors, GD1 has launched a $5 million Web3 and crypto-focused venture capital fund. The fund, known as GD1 Crypto Fund 1, will be led by cryptocurrency and Web3 expert Nawaz Ahmed as a general partner. Remarking on what the incoming general partner is expected to bring, Vignesh Kumar, the co-managing partner at GD1, said in a press release : One of our goals at GD1 has always been to diversify into new focus areas and continuously expand our knowledge base by onboarding individuals with diverse and interesting experiences and so we’re thrilled to have...