Bitcoin News and Finance: What You Need to Know

The Singapore High Court has granted a court injunction which stops or blocks the sale of a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) that one man claims was wrongfully taken away from him. NFT Used as Collateral A Singapore man has won a court injunction that blocks the sale or potential transfer of a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) that he claims to be rightfully his. According to a report, the NFT is currently in the possession of an online lender named Chefpierre. The man, who has been identified by the Strait Times (ST) as Janesh Rajkumar, is seeking to recover the BAYC 2162 NFT which he pledged as his security for a loan obtained from Chefpierre. Rajkumar claimed the NFT was wrongfully taken from him. The Bored Ape Yacht Club NFTs are popular with celebrities, some of whom have paid large sums of money to acquire them. The ST report notes Madonna is the latest celebrity to become the owner of a BAYC non-fungible token, after she reportedly pa

Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still, the experts concede that any attempt to diminish the dollar’s dominance will take time. BRICS Countries’ Dependence on the US-Dominated Global Financial System Chinese experts have urged BRICS countries, namely Brazil, Russia, India, China and South Africa, to counter the dollar’s global dominance which is now being abused by the United States government, a report has said. According to the experts, BRICS countries can achieve this by enhancing trade ties and limiting their reliance on a financial system in which the U.S. dollar dominates. As explained in a Global Times report , the call by the experts was made just before the foreign ministers from the five countries were scheduled to hold a virtual meeting on May 19. At the meeting, the foreign ministers were expected to discuss enhancin

Microsoft co-founder Bill Gates has explained why he does not own any bitcoin or other cryptocurrencies. “I like investing in things that have valuable output,” Gates said, adding that crypto is “not adding to society like other investments.” Bill Gates on Crypto, and Why He Isn’t Investing Microsoft co-founder Bill Gates shared his opinion about bitcoin and cryptocurrencies in a Reddit AMA (Ask Me Anything) session Thursday. One of the questions he was asked was “What do you think about bitcoin and cryptocurrencies?” Gates replied: I don’t own any. I like investing in things that have valuable output. He added: “The value of companies is based on how they make great products. The value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments.” Gates’ stance on cryptocurrency echoes that of Berkshire Hathaway Warren Buffett. The Oracle of Omaha explained in detail why he would not invest in bitcoin or cryptoc

SOL was trading lower to start the weekend, as prices slipped on Saturday. This comes as bears re-entered the market following a week of consolidation. ATOM was one of the biggest movers, falling by 10%. Cosmos ( ATOM ) After climbing by over 15% on Friday, ATOM was one of the biggest losers on Saturday, as prices fell by over 10%. ATOM /USD followed up yesterday’s peak of $12.12 by falling to an intraday low of $10.82 to start the weekend. The move comes as ATOM moved back towards its floor of $9.90, just as some were preparing for a rally towards $15.00. However, instead of this, we have seen ATOM move back towards a ten-day low, as bearish pressure pushed prices lower. Looking at the chart, the drop comes as the Relative Strength Index (RSI) failed to break out of a ceiling at 38. Markets will now likely continue to move around the current support point, prior to any further rallies or possible declines. Solana (SOL) SOL fell to ninth in the list of most valuable crypt

President of the European Central Bank Christine Lagarde has insisted that unlike a digital euro, cryptocurrency has no underlying asset. It should be regulated to prevent people from losing their life savings by speculating on crypto assets, the top ECB official has suggested. Cryptocurrency Is ‘Worth Nothing,’ ECB Governor Claims The head of the eurozone’s monetary authority, Christine Lagarde, maintains that cryptocurrencies are “based on nothing,” and is concerned about people “who have no understanding of the risks, who will lose it all and who will be terribly disappointed, which is why I believe that that should be regulated.” Speaking to Dutch TV, Lagarde admitted she is skeptical about the value of crypto assets, as opposed to a central bank digital currency ( CBDC ) such as the digital euro , which the European Central Bank (ECB) is planning to issue within the next few years. Regarding cryptocurrency, she also stated: My very humble assessment is that it is worth nothi

ETH started the weekend trading below $2,000 as the price consolidation in crypto continued. Bitcoin is also trading lower during Saturday’s session, with the world’s largest cryptocurrency once again falling under $30,000. Bitcoin Following marginal gains above the $30,000 level during yesterday’s session, BTC once again fell below this point. Friday saw BTC /USD trading at a high of 30,664.98, however these gains were short-lived, with prices falling to a bottom of $28,793.61 earlier today. As of writing, prices are down 3.27% to start the weekend, with this decline coming as bulls were unable to sustain the price floor at $28,800. The recent consolidation in bitcoin comes as a result of increased market uncertainty, following recent actions by the Federal Reserve, leading investors to move away from riskier assets. This is encapsulated by the fact that BTC has only seen a marginal move in price over the past week, despite all the ups and downs. Overall and as we speak, pr

As the consumer price index (CPI), a measure of prices for goods and services, hit another all-time high in April reaching 8.3%, Americans are stressed out more than ever about inflation and money. A recent survey published by the American Psychological Association shows that 87% of U.S. residents say inflation on everyday items has driven their stress levels way up. APA Survey Says 87% of Americans Are Stressed About Inflation Two recent studies show that a great number of Americans are stressed out over inflation and the rising costs of everyday goods and services. According to the American Psychological Association (APA) “ Stress In America Survey ,” Americans are burdened by mental health issues tied to money and inflationary pressures. Vaile Wright, a senior director of health care innovation at the American Psychological Association, further explained to CNBC’s Charlotte Morabito that “Eighty-seven percent of Americans said that inflation and the rising costs of everyday goo

Tim Draper, an early bitcoin investor, has declared he is still optimistic about the value of the first cryptocurrency even with the downturn its price has taken in the last months. Draper believes that the asset is still valuable as an inflation hedge, and that the market we are navigating right now is “very similar” to the dot-com bubble burst, but with higher inflation. Tim Draper Still Bullish on Bitcoin Tim Draper, the venture capitalist famous for his early investments in bitcoin, has explained his stance when it comes to the value of bitcoin in the current market situation. In an interview broadcast by CNBC, Draper explained that the importance of bitcoin in the downturn that crypto and traditional markets are experiencing, has to do with its inflation hedge traits. Draper told CNBC: I’m still a bull on Bitcoin because it’s a great hedge against inflation, and as speculators leave it will diverge from tech stocks. I do believe that tech stocks will keep going down as long

A16z has launched a new fund that seeks to invest $600 million in gaming experiences including Web3 and metaverse. The fund, which seeks to build the future of the gaming industry, aims to back several startups and projects in different areas including gaming studios, the intersection of gaming and consumers, and infrastructure. This move complements the investments that the VC has made in other gaming and metaverse-involved startups. A16z Doubles Down on Gaming Executives at a16z seem to be enticed by the intersection of metaverse, Web3, and gaming happening now in the industry. The company has announced the launch of a $600 million gaming fund called Games Fund One, which seeks to power startups in the industry in three key sectors, including gaming studios, gaming relationships, and infrastructure building. The fund, according to the company, bases its operation on the belief that “games will play a pivotal role in defining how we socialize, play, and work over the next century

Meta Platforms Inc., formerly Facebook, has filed five trademark applications for “Meta Pay.” The filings cover a wide range of cryptocurrency services. The company is renaming Facebook Pay to Meta Pay. Trademark Applications for Meta Pay Meta Platforms Inc., formerly Facebook, filed five trademark applications for “Meta Pay” with the United States Patent and Trademark Office (USPTO) last week. Trademark attorney Josh Gerben tweeted explaining Wednesday that, in his opinion, Meta’s applications indicate the company is planning to launch a payment platform called Meta Pay for users to exchange regular fiat money for cryptocurrencies. Meta’s head of fintech, Stephane Kasriel, explained last week that the company is “investing more” in its existing payments experiences, noting that it has been in payments since 2009. “Today, people and businesses use our platforms to make payments in 160 countries and 55 currencies,” Kasriel wrote, elaborating: The experience that people see toda

The G7 finance ministers and central bank governors have called for a swift and comprehensive regulation of crypto assets. The G7 decision followed the recent crypto market turmoil, including the collapse of cryptocurrencies LUNA and UST. G7 Countries Calling for Swift, Comprehensive Regulation of Crypto Assets The finance ministers and central bank governors from the Group of Seven (G7) industrialized nations convened in Bonn and Königswinter, Germany, on May 18–20. Among the topics they discussed was the regulation of crypto assets following the recent market turmoil and the collapse of cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST). “The G7 supports work by the Financial Stability Board (FSB) to monitor and address financial stability risks arising from all forms of crypto-assets, and welcomes increasing global cooperation to address regulatory issues associated with the use of crypto-assets, including in cross-border payments,” according to the communiqu

The CEO of one of Kenya’s biggest lenders has argued there is a possibility cryptocurrencies will complement mobile money in Africa but first, there is a need to convince regulators of their benefits. African Regulators’ Stance on Crypto Cryptocurrencies can potentially complement mobile money in Africa if regulators on the continent are made to change their perceptions of the digital currencies, the boss of one of Kenya’s biggest lenders has said. According to James Mwangi, CEO of Equity Group Holdings Plc, central banks first need to be convinced of the benefits of cryptocurrencies. In remarks published by Bloomberg, Mwangi noted that most of the continent’s central banks have either banned the use of cryptocurrency like bitcoin or have imposed restrictions on its use. He noted, however, that a few countries have or are exploring ways to embrace cryptocurrencies. According to Mwangi, adopting cryptocurrencies is also one way Africa can get ahead of other continents as far as em

PRESS RELEASE. MetaOasis Wins the Double in Hackathon Competitions Three months ago, MetaOasis won the championship in Metaverse Alliance 2021 Global Metathon. Three months later, MetaOasis got the most votes and beat 112 competitors in the recent Avalanche Asia Hackathon. Therefore, MetaOasis will become the first project that wins the double in international hackathon competitions in the gamefi history. What worth mentioning is that Avalanche Asia Hackathon set up an algorithm mechanism which can prevent repeated voting. That’s to say, all votes were from loyal supporters of the project, which makes the votes be of great value, and it also shows that MetaOasis deserve the championship by having the strength with strong and real user base. Who is the Champion-MetaOasis？ MetaOasis is the next-generation game publishing platform linking Web2 and Web3. Meanwhile, MetaOasis will launch the first self-developed big game, making it the core to gather excellent game around the world

Pakistan can generate tax revenues of at least $90 million each year if authorities impose a 15% tax on cryptocurrency transactions, an executive with a cryptocurrency exchange has said. 15% Crypto Tax An executive with a Pakistani cryptocurrency exchange has said Islamabad can generate at least $90 million in tax revenues if authorities decide to levy a 15% tax on cryptocurrency transactions. The executive, Zeeshan Ahmed, the country general manager at Rain Financial Inc, claimed this would be possible if Pakistan adopts what one report calls “hard and fast regulations.” In comments published by The International News, Ahmed claimed that Pakistan’s neighbor India and the United States are already getting billions of dollars in tax revenues. He said: The US and India are collecting billions of dollars through a 30 percent tax on the profit earned from crypto trading. We can start with a 15 percent tax. Role of Crypto in Pakistan’s Economy Ahmed’s sentiments were echoed by his

Microstrategy’s CEO has predicted that bitcoin is “going to go into the millions” despite the recent cryptocurrency market sell-off. Noting that the cryptocurrency is the future of money, he said: “We are in it for the long term.” Microstrategy Sees Bitcoin as the Future of Money The CEO of the Nasdaq-listed software company Microstrategy, Michael Saylor, shared his bitcoin outlook Thursday in an interview with Yahoo Finance Live. The executive is still bullish on bitcoin despite the recent sell-off. He was asked whether there is a price target at which Microstrategy will start liquidating some of its bitcoins. The company is currently hodling 129,218 BTC . “No,” the CEO replied, emphasizing, “we are in it for the long term.” He elaborated: “Our strategy is to buy bitcoin and hold the bitcoin, so there’s no price target. I expect we’ll be buying bitcoin at the local top forever.” He continued: I expect bitcoin is going to go into the millions. So, we’re very patient. We think i

Official records show Do Kwon dissolved Terraform Labs Korea, closing down its headquarters and sole branch just days before the collapse of terra crypto (LUNA) and stablecoin terrausd (UST). Do Kwon Shut Down Terraform Labs Korea Before UST and LUNA Fallout Terraform Labs founder Do Kwon reportedly closed down his company in Korea days before the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). According to South Korea’s supreme court registry office, Terraform Labs Korea decided to dissolve its Busan headquarters and Seoul branch at the general shareholders meeting on April 30, Digital Today reported. The company named CEO Kwon Do-hyeong, the full name of Do Kwon, as the liquidator. The publication detailed: On May 4, Terraform Labs Korea’s headquarters was dissolved and on May 6, the Seoul branch was dissolved. On May 9, UST lost its peg to the U.S. dollar and its price kept falling. At the time of writing, it is trading at about $0.08. LUNA also shar

PRESS RELEASE. Binance is a curious company. the world’s largest cryptocurrency exchange, it also has no official headquarters and operates outside regulatory control. But that may not stop its step. Binance.US raised funding at a $4.5bn valuation this month, providing a new case for Binance enthusiasts. Today, they can share the exciting news that Freedom Protocol has set a new record on IDO volume. Freedom Protocol is a new financial protocol that makes pledging easier and more efficient. It makes the largest amount of IDO with over $4M, and it is another big DeFi project issued on the Binance Smart Chain. Freedom Protocol is wise to raise funds while it can. Revenue depends on trading volumes in its crypto, which are notoriously volatile. It is sensible to put aside capital when it can while building relations with external investors. It is worth mentioning that Freedom Protocol raises $4 from normal users instead of professional agencies. Freedom Protocol fans like to claim th

The president of Panama, Laurentino Cortizo, has declared he will not sign the recently approved cryptocurrency bill passed by the National Assembly of the country in its current form. Cortizo stated that one of his main concerns about the bill is the stance it takes regarding money laundering activities and crypto. Cortizo may approve some parts of the bill while vetoing others. Panama’s President Considers Crypto Bill Veto Laurentino Cortizo, the president of Panama, has announced his opinion regarding the recently approved cryptocurrency bill, and how it might be too lax when it comes to dealing with unlawful activities like money laundering in the sector. While speaking at the Bloomberg New Economy Gateway Latin America conference in Panama City, Cortizo stated : If I’m going to answer you right now with the information that I have, which is not enough, I will not sign that law. Furthermore, Cortizo explained that he and his government would have to be “very careful” if the

Following several sessions of consolidation, ETH has finally caved in, dropping below the $2,000 floor in the process. As we move towards the end of the week bitcoin also fell for a second consecutive session, with prices falling below $29,000. Bitcoin Bitcoin dropped below the $29,000 level on Thursday, as bears continued to push prices lower this week. As a result of a second consecutive session of selling, BTC /USD fell to an intraday low of $28,708.96 on Thursday. This drop comes after prices were trading at a level of $30,016.18 on Wednesday. However they’ve fallen by over 3% as traders still look to find a stable support point. Despite the 14-day Relative Strength Index (RSI) trading below 30, which is in oversold territory, many do not expect bulls to buy any dips, as some believe we could still be heading to further lows. Looking at the chart, this indicator is currently tracking at 34.94, which is marginally below a ceiling of 35.46. We will likely not see any signifi

Even after introducing fines and criminal liability for cryptocurrency mining, Abkhazia continues to find underground facilities for digital currency extraction. This week, law enforcement officials have confiscated dozens of mining devices from an illegal crypto farm. Abkhazia Shuts Down Crypto Farm, Seizes Mining Hardware Police in Abkhazia have closed down another crypto mining installation in a rural area of the breakaway Georgian republic. The illegal coin minting facility was located in the village of Yashtuha, Sukhumi region, the Ministry of Internal Affairs announced . Representatives of the interior ministry, together with officials from the Department for Energy Supervision and other government agencies, raided the cryptocurrency farm on Wednesday, May 16, acting on a tip-off. An administrative protocol has been drawn up against the miner, 29-year-old local resident Khanchalyan Robertovich. He operated 31 mining machines that have been confiscated and transferred to a go

YellowHeart Protocol, an NFT platform poised to disrupt the ticketing and music industries, is set to launch its utility token, HRTS (pronounced “Hearts”), on Bittrex Global’s IEO Platform Starting Block as the platform’s debut project on May 24 at 13:00 UTC. YellowHeart Protocol Is a Significant Milestone in the History of Event Ticketing System The first ever event tickets can be traced back to ancient Rome. Not issued on paper, but on a little piece of clay. People’s passion for public cultural events never stopped since, and it was until the mid-18th century when concert goers in London started to receive pre-paid checks to guarantee their seats. In the late 19th century, paper tickets gradually came to use. In the following two hundred years, more and more ticket designs emerged. In the early 2000’s, tickets moved online. And if you wonder what is the next important milestone in the history of event ticketing system, YellowHeart Protocol is one of the most relevant candidates.

Leading U.S. crypto exchange Coinbase is slowing hiring, citing the current down cycle in the market as a reason to rethink its staffing strategy. The company’s management believes the move will allow the trading platform to match its hiring needs with its business goals. Coinbase to Reassess Headcount Needs, Focus on Integrating Recent Hires Cryptocurrency exchange Coinbase has announced a change in its staffing plans. After previously aiming to triple its size heading into this year, the company now feels it’s prudent to slow hiring and reassess its personnel needs against its business goals, given the current market conditions. Quoted in a press release on Tuesday, Coinbase President and Chief Operating Officer Emilie Choi explained: To ensure we’re best positioned to succeed during and after the current market downturn, we’re announcing we’re slowing hiring so we can reprioritize our hiring needs against our highest-priority business goals. Choi further elaborated that Coin

Bitcoin Argentina, an NGO dedicated to the promotion and expansion of Bitcoin and cryptocurrency in the country, is going to take Bitcoin education to high schools. The project, called “Schools and Bitcoin,” will help educate high school students about the relevance of Bitcoin and the differences between this alternative system of money and the traditional fiat finance structure. Bitcoin Argentina to Educate High School Students Argentina is one of the countries with a high crypto adoption rate in Latam, according to numbers published by Chainalysis. Some citizens of the country have fled to crypto and bitcoin due to inflation and exchange controls depleting buying power. This is why Bitcoin Argentina, an NGO dedicated to the expansion of the Bitcoin ecosystem in the country, has decided to launch an education project that will allow high schoolers to learn about Bitcoin. The project, called “Schools and Bitcoin,” launched in partnership with humanitarian initiative Built with Bit

On Wednesday, the acid jazz-funk band Jamiroquai revealed it has partnered with the blockchain-based virtual world platform The Sandbox in order to “get funky in the metaverse.” According to the announcement, Jamiroquai plans to bring virtual insanity to the band’s virtual land located in The Sandbox metaverse. Acid Jazz-Funk Band Jamiroquai Joins the Sandbox Virtual World Another popular music act is joining the virtual world The Sandbox, as the subsidiary of Animoca Brands announced on Wednesday that Jamiroquai is now a project partner. Jamiroquai is an award-winning band that plays funk, acid jazz, soul, disco, and R&B, and is led by the band’s frontman Jay Kay. Jamiroquai is well known for hit songs like “Virtual Insanity,” and “Canned Heat,” and Virtual Insanity was named MTV’s Video of the Year in 1997. The hit song also earned Jamiroquai a Grammy Award the following year. The Sandbox and Jamiroquai plan to celebrate the partnership on May 18, 2022, with Jamiroquai x Sand

Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned of hard times ahead for cryptocurrency investors as the Federal Reserve and other central banks tighten monetary policy. Bank of England’s Executive Warns About Crypto Sir Jon Cunliffe, deputy governor for financial stability at the Bank of England (BOE), had a warning for crypto investors at a Wall Street Journal conference Tuesday, Reuters reported. The Bank of England executive cautioned that crypto investors should expect more difficult times ahead. He explained that as the Federal Reserve and central banks around the world tighten financial conditions, investors will be more attracted to safer assets. Replying to a question about whether rising interest rates would ramp up pressure on cryptocurrencies, Cunliffe was quoted as saying: Yes, I think as this process continues, as (quantitative tightening) starts in the U.S. … I think we’ll see a move out of risky assets. Federal Reserve Cha

A panel of specialists at Finder has predicted the death of shiba inu (SHIB) cryptocurrency. The majority believes that the price of the meme crypto will eventually fall to zero. In addition, “Our panel is overwhelmingly out on SHIB, with 73% saying that now is the time to sell.” SHIB’s Price Prediction Leading price comparison portal Finder.com updated its price prediction for the shiba inu cryptocurrency last week. “Finder surveyed a panel of 36 fintech specialists in April for their thoughts on how shiba inu will perform over the next decade,” the company explained. “Things are not looking good for the meme coin shiba inu,” Finder remarked, adding that “It’s a matter of when, not if, we’ll see the death of shiba inu, according to the majority of Finder’s shiba inu price predictions report panel.” The company explained that at the time of the survey, the price of SHIB was $0.00002029, and the panel expected it to drop 7.6% to $0.000018750 by the end of 2022. However, at the tim