Bitcoin News and Finance: What You Need to Know

One of the United Arab Emirates (UAE)’s leading airlines, Emirates Airline, said it has plans to add “bitcoin as a payment service.” The airline is planning to recruit personnel to create applications that monitor client needs. Two Different Applications and Approaches The United Arab Emirates (UAE)’s leading airline, Emirates Airline, will soon embrace “bitcoin as a payment service,” the company’s chief operating officer (COO) Adel Ahmed Al-Redha has said. In addition, the airline will add non-fungible token (NFT) collectibles on its webpage. Reports of the airline’s plan to embrace bitcoin come just a few weeks after it revealed its NFT and metaverse plans. As reported by Bitcoin.com News, the company’s goal with the metaverse launch is to ensure the airline is “aligned with the UAE’s vision for the digital economy.” In remarks published in Arab News, Al Redha hinted that his company may have to recruit employees to assist it in creating applications which monitor customer ne...

Ruja Ignatova, mastermind of the notorious pyramid Onecoin, is now one of Europe’s most wanted fugitives. Also known as the “Crypto Queen,” she disappeared almost five years ago, after the Ponzi scheme she led collected billions of dollars from defrauded investors around the world. Europol Seeks Information on Onecoin Inventor’s Whereabouts The European Union Agency for Law Enforcement Cooperation, Europol, is now offering a reward of up to €5,000 ($5,200) for any information that could lead to the arrest of Ruja Ignatova, suspected of masterminding one of the largest scams in crypto history, Onecoin. The announcement describes Ignatova, a doctor of law, as the “driving force and intellectual inventor of the alleged cryptocurrency Onecoin.” She is suspected of inducing investors all over the world to put money into “this actually worthless ‘currency’,” Europol notes. The agency also points out that the fraud-related losses to the Ponzi scheme that have been established so far ar...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, believes bitcoin could crash to $17K. However, he also believes the cryptocurrency “will win” because America is led by the three stooges. He has been recommending bitcoin to investors alongside gold and silver. Kiyosaki Thinks Bitcoin Could Test the Bottom at $17K The author of Rich Dad Poor Dad, Robert Kiyosaki, has shared his latest price expectation and future outlook for bitcoin. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Thursday that bitcoin is crashing and he is waiting for the price of the cryptocurrency to fall to the $20K level. He explained that he will then wait for BTC to test the bottom, which might be at $17K, before he starts buying. “Crashes are the best times...

Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, has launched cryptocurrency trading. S tarting with bitcoin and ether, the bank explained that its 54 million customers can “buy, hold and sell cryptocurrency all from the same app, with no need to open new accounts or transfer money.” Nubank Now Offers In-App Crypto Trading Nubank, one of the world’s largest digital banking platforms, announced Wednesday that it is entering the crypto trading market. The bank serves around 54 million customers across Brazil, Mexico, and Colombia. The announcement details: The company launched today in Brazil an exclusive in-app crypto trading experience, offering initially bitcoin and ethereum trading starting at BRL $1.00 (~U.S. $0.20). The new service aims to enable “customers to buy, hold and sell cryptocurrency all from the same [Nubank] app, with no need to open new accounts or transfer money,” the bank explained. Prior to this launch, Nubank clients coul...

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Tanzania is getting closer to launching a central bank digital currency (CBDC) which gives the country’s residents a “safe alternative,” the central bank governor has said. However, no date for the digital currency launch has been given. Growing Interest in Cryptocurrencies According to Florens Luoga, the governor of Tanzania’s central bank, his country is inching closer to the launch of a central bank digital currency (CBDC). When launched, the CBDC is expected to counter the growing interest in privately issued cryptocurrencies, a report has said. In remarks made during an interview , Louga suggested the Bank of Tanzania (BOT) is also preparing for the launch of a CBDC because it cannot ignore the technological advances in money. The governor claimed that BOT’s digital currency will provide users with an alternative that is safer than cryptocurrencies. He said: It’s important for us to provide a central bank digital currency as a safe alternative because many people are being a...

Russia’s Bitriver, one of the largest operators of crypto mining data centers, may take legal action against the U.S. over the decision to place it under sanctions. The company insists it does not help the Russian government to circumvent international restrictions. Bitriver Rejects US Accusations as Unfounded, Sees No Legal Ground for Sanctions Leading Russian mining enterprise Bitriver is considering filing a lawsuit against the U.S. Treasury Department, which recently designated the Swiss-registered company and a number of affiliated entities in a new round of sanctions against Russian businesses and individuals. Russia’s coin minting potential was specifically targeted with the new penalties imposed over the war in Ukraine. In comments to the RIA Novosti news agency, Bitriver stated that the actions of the department are damaging its reputation and international business since the accusations are unfounded. The company is also convinced there are no legal grounds for the rest...

Masterminds of one of South Africa’s biggest bitcoin Ponzi schemes, Mirror Trading International (MTI), have been asked by the scheme’s liquidators to pay back over $291 million to cover the scam operation’s debts. Liquidators’ Influence Liquidators of the South African bitcoin Ponzi scheme, Mirror Trading International (MTI), have issued summonses against eighteen individuals believed to be the masterminds behind the now-defunct scheme. The liquidators want the named individuals to pay back more than $291 million (4,666,077,528 rand) to cover the scheme’s debts, a report has said. The move to summon the alleged MTI masterminds comes just a few months after liquidators unsuccessfully tried to have the online bitcoin trading platform declared an unlawful business by a South African court. As per a report by Bitcoin.com News, the move was frustrated by a slew of late court filings by lawyers representing MTI investors. Investors were reportedly worried that the liquidators’ motion ...

Economist Nouriel Roubini, a crypto skeptic known as “Dr. Doom,” is developing a tokenized asset intended to be a more resilient U.S. dollar. “Our goal is to create a global store of value … This is something akin to a substitute for Treasuries, or a digital asset that has payment features in it.” Nouriel Roubini’s Tokenized USD Alternative Economist Nouriel Roubini revealed this week that he is developing a suite of financial products, including a tokenized asset, called the United Sovereign Governance Gold Optimized Dollar (USG), to act as a more resilient dollar against high inflation, climate change, and civil unrest, Bloomberg reported. Roubini is a longtime crypto skeptic who called bitcoin “the mother of all bubbles.” He teaches at New York University’s Stern School of Business and has his own economic consulting firm called Roubini Macro Associates. Famed for predicting the housing bubble crash of 2007-2008, his gloomy predictions have earned him the nickname “Dr. Doom” in ...

Several major financial services firms, including Citi, Wells Fargo, and BNY Mellon, are investing in institutional digital asset technology provider Talos, which aims to remove “the barriers to wide-scale crypto adoption.” The latest funding round values the company at $1.25 billion. Citi, Wells Fargo, BNY Mellon Participate in $105M Funding Round for Digital Asset Tech Firm A number of major financial services companies, including Citi and Wells Fargo, have joined a funding round for Talos, a global firm that provides institutional digital asset trading technology. Talos announced a $105 million Series B funding round Tuesday that values the company at $1.25 billion. “Our institutional-grade infrastructure technology supports the full lifecycle of digital asset trading, from price discovery to execution through to settlement,” its website describes, adding that “Talos is removing the barriers to wide-scale crypto adoption.” The funding round was led by global growth equity fir...

Bitso, a Mexico-based cryptocurrency exchange, is expanding its range of crypto investing options. The company has announced it will now allow customers to earn funds just by holding bitcoin or stablecoins in its wallet. The program, called Bitso+, will offer different yields based on the quantities deposited by users, and it is designed to help customers tackle inflation problems in Latam. Bitso Introduces Yield Program for Bitcoin and Stablecoins Bitso, one of the biggest cryptocurrency unicorns in Latam, is expanding its services offerings by introducing new yield services for customers. A new program, called Bitso+, will offer users different yield plans according to the cryptocurrency and the quantities present in the wallet of the exchange. This program, which was available to many users before and is now open for all users, offers up to 6% yield for bitcoin deposits, and up to 15% yield in stablecoins. However, this depends on the amount that the user has in the exchange w...

Kucoin, a Seychelles-based cryptocurrency exchange, has announced it has raised $150 million in a pre-Series B funding round. The negotiation, which was led by Jump Crypto with the participation of other investors including Circle Ventures, IDG Capital, and Matrix Partners, has conferred the exchange a valuation of $10 billion. The exchange will use these funds to keep expanding in the Web3 sector. Kucoin to Expand in the Web3 Arena Crypto exchange Kucoin has announced it has raised $150 million as a part of its pre-Series B funding round. The company, which had raised $20 million in its Series A funding round back in November 2018, has reached a valuation of $10 billion with this capital influx. The pre-funding round investment was led by Jump Crypto, and had participation from other VC firms in the sector, including Circle Ventures, IDG Capital, and Matrix Partners. On this round, Johnny Liu, CEO of Kucoin, stated: The vote of confidence from prominent investors, including Jum...

United24, a new fundraising platform announced recently by Ukrainian President Volodymyr Zelenskyy, accepts a number of cryptocurrencies, alongside traditional payment methods. The initiative also permits donors to choose how their money will be spent. Kyiv Launches New Platform for Donations Amid Ongoing War With Russia Ukraine, which has been increasingly relying on foreign donations to support its defense efforts and overcome humanitarian challenges following Russia’s invasion, now offers those who want to help an integrated platform that streamlines the process and allocates financial support in accordance with the donor’s will. According to its website, United24 was launched by President Volodymyr Zelenskyy as the main venue for collecting charitable donations to support Ukraine. The Ukrainian head of state announced the global initiative last week, with his administration pointing out that the goal is to unite people from all over the world in their desire to help the countr...

De Beers, one of the leading diamond-producing companies globally, recently announced the deployment of its blockchain-based diamond source platform at scale. The platform will “enable the provision of provenance information from source to Sightholder to store on a secure blockchain.” Immutable Record of a Diamond’s Provenance One of the world’s top diamond miners, De Beers, recently said it had deployed a blockchain-based diamond source platform at scale. The platform, which is known as Tracr, gives the so-called sightholders the ability “to provide an immutable record of a diamond’s provenance, and [empowers] jewellery retailers to have confidence in the origin of the diamonds they purchase.” The launch of the platform at scale comes nearly four years after De Beers launched the R&D phase, a statement released by the company said. The launch also comes in a year when the company has already “registered one-quarter of its production by value on TracrTM in the first three sight...

Delivering the Queen’s Speech, Prince Charles outlines the British government’s plans to support the safe adoption of cryptocurrencies and create “powers to more quickly and easily seize and recover crypto assets.” UK Government Plans to Support Crypto Adoption The U.K. government outlined its legislative agenda for the next parliamentary year in the Queen’s Speech delivered Tuesday by Prince Charles, the monarch’s son and first in line to the throne. The Queen’s Speech is written by the government and read out by the monarch as part of the official state opening of parliament. Speaking to both the House of Lords and the House of Commons, Prince Charles detailed numerous commitments that Her Majesty’s government will carry out. He mentioned that 22 bills will be introduced, telling parliament that the government’s “priority is to grow and strengthen the economy and help ease the cost of living for families.” One of the bills is the “Financial Services and Markets Bill,” according ...

As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently needed. Treasury Secretary Janet Yellen Testifies Before Senate Committee Stablecoins have become a hot topic in Washington. Following Monday’s terrausd (UST) fiasco, U.S. lawmakers are calling for the urgent regulation of stablecoins. On Tuesday, U.S. Treasury Secretary Janet Yellen brought up UST as an example of a “stablecoin run” during her testimony before the Senate Committee on Banking, Housing, and Urban Affairs on the Financial Stability Oversight Council (FSOC) Annual Report . Senator Pat Toomey (R-Pa.) asked Yellen to confirm her view on the need to regulate stablecoins. “I would like to ask if you can co...

The Nigerian central bank digital currency (CBDC) wallet app is set for an update that will see users given the ability to pay for utilities like pay television and for topping up airtime. The addition of the unstructured supplementary service data (USSD) functionality to the wallet app means people without bank accounts will be able to make payments using the CBDC. The Update Process The wallet app for Nigeria’s central bank digital currency, the e-naira, is set to undergo an update that will see users being able to pay for regular utilities like pay television and airtime top-up, an official with the bank has reportedly said. According to a Nairametrics report that quotes the official — Yusuf Abdul Jelil — the Central Bank of Nigeria (CBN) will initiate the upgrade process by sending a message to users asking them to update the wallet app. Designated the CBN’s e-naira presentative, Jelil made the remarks while attending an event at Kairo Market in Oshodi, Lagos. “Any moment fro...

A new report has concluded that restrictions on cryptocurrency trading, as well as the banning of Twitter by Nigerian authorities, may have “crippled foreign direct investment in the fintech industry.” Foreign Direct Investment ‘Crippled’ A new report has found that restrictions imposed by Nigerian authorities on crypto trading may have contributed to the reduced foreign direct investment that goes to the fintech industry. The same restrictions, as well as the banning of Twitter, have also adversely affected young Nigerians who were earning money via crypto trading. The report , which is titled Africa’s Urbanisation Dynamics 2022: The Economic Power of Africa’s Cities, was jointly published by the secretaries-general of the Organisation for Economic Co‑operation and Development (OECD) and the United Nations (UN). “The restrictions on cryptocurrency transactions and the outright ban of Twitter in Nigeria have crippled foreign direct investment in the fin‑tech industry and negative...

Qualcomm, one of the largest fabless mobile chip makers, is very optimistic about the future of the metaverse and what it might bring for companies and consumers in the area. Qualcomm CEO Cristiano Amon believes that, while there is much to do in the development space, this development is real and will bring a very big opportunity for the people involved. Qualcomm CEO Talks Future of Metaverse Hardware companies are starting to view the recent metaverse push in the software industry as an interesting market for them to tackle. Qualcomm, which is one of the biggest fabless chip makers in the mobile world, is focused on the importance that this new technology might bring to the chip and electronic consumer market in the not-so-distant future. Cristiano Amon, CEO of the company, explained the importance that the company gives to the metaverse in an interview with Yahoo Finance. On the future of the metaverse, he explained : It’s real, it’s going to be a very big opportunity. We star...

The Indian government is reportedly considering imposing a 28% goods and services tax (GST) on all crypto transactions. “Currently tax is levied only on the part of the services provided by crypto exchanges. Subjecting the whole transaction to tax at a higher slab of 28% could give the markets a free fall,” one tax expert warned. Council Mulls Over 28% GST on Crypto Transactions India’s Goods and Services Tax (GST) Council will soon make a decision on whether to expand the scope of applicable transactions and levy a 28% GST on all services and activities related to cryptocurrencies, CNBC TV18 reported Monday. The GST Council is the apex decision-making body chaired by the country’s finance minister. The council has nominated its law committee to form a view on the GST issue relating to cryptocurrency. Sources told the publication: There are various aspects of cryptocurrencies — the transactions involving cryptos, cryptos being used to make purchases, cryptos being received as pay...

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...