Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. EverRise , a leading web3 security and infrastructure platform, has released EverRevoke. The newest addition to the EverRise Ecosystem is a utility to review and revoke token and NFT approvals from a single place across multiple blockchains. EverRevoke supports five blockchains: Ethereum, BNB Chain, Polygon, Avalanche, and Fantom. Token approvals are an often overlooked vulnerability in decentralized finance. EverRise developed EverRevoke not only to provide a solution to revoking active permissions but also to bring awareness to the potential problem . With DeFi and web3 gaining more adoption, security must be at the forefront to give users assurance that their assets are protected. EverRise believes credible tools must be readily available. “The token revoking tools currently available aren’t the most reliable and don’t provide users with an easy way to navigate what is in their wallet. EverRevoke provides them with the information they need to know to make an inf...

The San Diego-based cryptocurrency firm Edge has announced the launch of a confidential crypto Mastercard that doesn’t collect KYC data and doesn’t charge transaction fees. Edge’s website notes that there’s “no name or address associated with [the] Edge Mastercard” giving privacy advocates peace of mind. Edge Reveals Privacy-Centric Crypto Mastercard The digital currency firm Edge has announced the launch of the Edge Mastercard , a loadable crypto debit card that doesn’t collect KYC data. Edge revealed the Mastercard on Twitter and told the company’s followers: “Zero fees. Instant funding — With Edge Mastercard everyone can now spend BTC , DOGE, DASH , LTC , [and] BCH instantly, with zero personal information required.” Blockspace.io founder Gabe Higgins gave Edge props for the new privacy-centric crypto Mastercard. “Kudos to Edge, sticking with their original vision of providing an easy way to secure [and] use bitcoin without compromising on privacy,” Higgins tweeted on Wednesd...

PRESS RELEASE. On June 9, 2022 at 14:30 UTC, the FIAT currency pairs of MV(ERC20)/USD and MV(ERC20)/EUR will be listed on Kraken, a leading crypto exchange. Genso believes that by listing MV on Kraken, Genso will be able to increase the reach of our Metaverse to more users, and therefore stimulate the GensoKishi Online Economy. What is Kraken? Kraken is a US based cryptocurrency exchange, founded in 2011. The exchange is known to be the first for providing crypto price information to Bloomberg Terminal, a computer software system by the financial data vendor Bloomberg L.P.. It is also the first crypto exchange to provide BitCoin leveraging as a service, and therefore trusted by millions of users worldwide. Blog： https://blog.kraken.com/ Twitter： https://twitter.com/krakenfx About GensoKishi Online GensoKishi Online Metaworld is a GameFi and metaverse incarnation of the award-winning Nintendo Switch/PS4 game “Elemental Knights”. The iconic game has a 14 year history and has a...

U.S. Treasury secretary Janet Yellen doesn’t think inflationary pressures stem from the stimulus policies enacted after the Covid-19 outbreak. While speaking to lawmakers on Wednesday, during the House Ways and Means Committee, Republicans criticized Yellen for not knowing about the risks of inflation. A U.S. senator from Wyoming questioned the Treasury secretary’s “pronouncements and decisions” concerning the record gas prices and rising inflation. Yellen Claims Stimulus ‘Produced Excellent Rewards for Americans’ — Republican Senator Says American Rescue Plan ‘Overheated the Economy’ On Wednesday, Treasury secretary Janet Yellen downplayed the theory that the stimulus from the American Rescue Plan and other monetary expansion policies contributed significantly to the current rising inflation. “The success of the policy adopted is that we have an economy with the strongest labor market, arguably in the entire post-war period,” Yellen remarked during her House Ways and Means Committ...

BTC was fighting to stay above $30,000 on Thursday, as markets prepare for the release of U.S. inflation data on Friday. Crypto prices mainly consolidated in today’s session, whilst ETH marginally slipped, falling below $1,800. Bitcoin Bitcoin was attempting to stay above $30,000 on Thursday, as traders began to anticipate the latest U.S. inflation report. On Friday, the latest consumer price index (CPI) is expected to show inflation at 8.3%, which is still close to record highs. Prior to the release of this, BTC /USD fell marginally lower on Thursday, hitting an intraday bottom of $30,015.98. This move comes after bulls recaptured the $30,000 mark during yesterday’s session, however they have failed to extend these gains. Some believe this may be a result of the upcoming CPI release, which has been a key economic indicator in recent months. In addition to this, the 14-day RSI remains near its 45.50 floor, and should this continue to hold steady, BTC will likely stay above $...

The Congress of Colombia has approved a bill that regulates the behavior of cryptocurrency exchanges in the country in its first discussion, taking the first steps to bring clarity to this issue. One of the creators of the bill, Mauricio Toro, a representative of the Green Party, stated that this bill is needed to protect users from Ponzi schemes, giving them security in the crypto world. Colombia Gets on the Crypto Regulation Road More and more countries in Latam are realizing the growth and influence crypto and crypto-related businesses are seeing in their territories. Colombia is one of them, and this is moving the government to accelerate the regulation of cryptocurrency exchanges to clarify the responsibilities and duties of these companies. In this sense, the Colombian Congress has taken steps in this direction by approving a bill that seeks to give more clarity and security to the operation of crypto exchanges in the country. One of the proponents of the bill, representative...

A Brazilian judge has ruled that the CEO of Mirror Trading International should remain in precautionary detention as authorities in South Africa have already furnished their Brazilian counterparts with the documentation that is required for extradition purposes. The judge also rejected Johann Steynberg’s attempts to use his Brazilian family as the basis for seeking an end to his precautionary detention. Documentation for Steynberg’s Formal Extradition A Brazilian judge recently dismissed an application by Johann Steynberg — the mastermind behind Mirror Trading International (MTI), one of South Africa’s biggest cryptocurrency scams — to have his precautionary detention revoked. In his application, the MTI chief executive had reportedly argued that since no formal extradition request had been made the court should at least place him under house arrest. Steynberg also argued that when he left South Africa in December 2020, there was no outstanding warrant for his arrest and that the c...

Hong Kong’s securities regulator has warned investors to be wary of risks that are associated with non-fungible tokens (NFTs). The regulator also advised investors to consider investing in NFTs only if they fully understand the risks. NFTs ‘Straddle the Line Between Collectibles and Financial Assets’ A Hong Kong regulator has said NFTs face risks that are associated with other virtual assets and investors should not invest in these assets if they do not fully understand such risks. According to a report by Interface News, the Hong Kong Securities Regulatory Commission (HKSRC) said some of these risks include a lack of liquidity in the secondary market, volatile prices, a lack of transparency in the pricing of NFTs, and the risk of hacking. The regulator’s warning comes after the HKSRC said it had observed that some NFTs have unique qualities. Explaining this, the report said: “some NFTs straddle the line between collectibles and financial assets, such as subdivision or homogenei...

PRESS RELEASE. Binance Pay, Alchemy Pay, ePayments, and QponBay are collaborating to facilitate offline crypto payment methods at ‘Artaverse’, an NFT and metaverse event to be held in Hong Kong from June 3rd to 12th. Participants of Artaverse will be able to use cryptocurrencies to buy NFTs directly on site. The cryptocurrencies supported are BNB , ETH , ACH, and USDT . The exhibition is one of the largest of its kind and will be held in the 150,000 square-foot Central Harbourfront venue in Hong Kong. Hosted both inside and outside, there will be a giant tent and more than 20 independent exhibition spaces. With a total of more than 100 exhibition pieces, Artaverse aims to promote art forms such as non-fungible tokens(NFTs) and the metaverse, so that art enthusiasts have the opportunity to view, purchase, and even create new kinds of art. With diverse digital art exhibitions, and musical and cultural performances, the public will experience an immersive art, entertainment, and cul...

Two months after the Russian ruble fell below a U.S. penny, the transcontinental country’s fiat currency is the best performing currency worldwide. American economists are baffled by the “unusual situation” because a country facing stiff sanctions typically sees its fiat currency decline in value, but Russia’s ruble has done the exact opposite. Russia’s Ruble Outshines the Euro and Dollar — Transcontinental Country’s Fiat Currency Shows Resiliency On February 28, 2022, Bitcoin.com News reported on the Russian ruble sinking to record lows, and citizens started to withdraw lots of cash causing what many reports called a “bank run.” At the time, Russia was hit with strict financial sanctions from countries opposed to the war in Ukraine. Furthermore, the United States, the European Commission, and Western allies imposed restrictions on the Bank of Russia’s international reserves. However, during the second week of April 2022, Bitcoin.com News reported on the country’s central bank sl...

The World Bank has warned of a possible global recession. “For many countries, recession will be hard to avoid,” said World Bank President David Malpass. “This is the sharpest slowdown in 80 years.” World Bank on Global Recession, Stagflation The World Bank warned about the rising risk of stagflation and global recession Tuesday. World Bank President David Malpass said: The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid. “Markets look forward, so it is urgent to encourage production and avoid trade restrictions. Changes in fiscal, monetary, climate and debt policy are needed to counter capital misallocation and inequality,” he explained. The World Bank president clarified on Bloomberg Tuesday that we are not in a global recession yet. However, “The downside risk is that it could be a global recession,” he opined. “One of the key variables is whether supply comes...

Citadel Securities and Virtu Financial are reportedly building a cryptocurrency trading platform with help from Fidelity Investments and Charles Schwab. “We know there is significant interest in this cryptocurrency space and we will look to invest in firms and technologies working to offer access with a strong regulatory focus and in a secure environment,” said Schwab. Citadel, Virtu, Fidelity, Schwab Building Crypto Trading Platform Global market maker Citadel Securities and Virtu Financial are building a cryptocurrency trading platform with help from retail brokerage giants Fidelity Investments and Charles Schwab, Bloomberg reported Tuesday, citing people familiar with the matter. The crypto product is still in its early development, the people said, adding that it could be available late this year or early next year. A spokesperson for Schwab, Mayura Hooper, said the brokerage giant “has made a minority, passive strategic investment in a new digital asset venture.” She added: ...

John Riccitiello, CEO of Unity, one of the leading real-time 3D engine providers, has predicted that the internet will become part of the metaverse in the next several years. The executive predicted that most websites will become metaverse destinations and that this change will be mostly completed by the year 2030. However, legacy sites will still be around at the time, according to Riccitiello. Unity CEO States Internet Will Be VR-Based in the Future Several companies are now interested in how the metaverse could be a part of our lives in the near future. Unity, a company specializing in providing real-time 3D solutions, has predicted that most of the internet will be metaverse-based by 2030. John Riccitiello, CEO of the company, stated that 2D websites will mutate into metaverse destinations and that these will be interconnected. The CEO made the remarks during a keynote at AWE, an augmented reality event, last week. Among the web destinations, there will essentially be three ki...

PRESS RELEASE. June 8, 2022: Myria Studios , the blockchain gaming division of Myria , announced that the company is rewarding its community members with its inaugural NFT drop — a free-to-claim Alliance Sigil NFT . For a limited time, all new and existing Myria community members can claim the exclusive NFT for free. The Alliance Sigil NFT forms part of the intricate lore of the Myriaverse and will signify where each holder chooses to stand in the fight against “The Rift” — a powerful force that consumes real worlds and mutates them into digital ones. The Sigil NFT will also grant holders additional access and utility, which will be revealed at a later date. Participants must complete basic missions to claim their chosen Alliance Sigil NFT, such as joining and introducing themselves to the Myria Discord community, and can also choose to complete further missions to claim additional rare rewards. Members can select from three Alliances: Federation, which seeks to combat the Rift’...

India’s market regulator, the Securities and Exchange Board of India (SEBI), says the decentralized nature of crypto assets makes consumer protection and regulatory enforcement challenging. SEBI on Crypto Regulation The Securities and Exchange Board of India (SEBI) reportedly told the Parliamentary Standing Committee on Finance that the decentralized nature of crypto assets makes any consumer protection or regulatory enforcement of this asset class challenging. Noting that “crypto assets are maintained in decentralized distributed ledgers,” SEBI was quoted by local media as saying: There is a great likelihood of execution of unauthorized trades not in consonance with any regulatory framework. The market regulator emphasized the need for clarity about whether crypto assets are securities. “If crypto assets are not banned, then there is a need for feature-based characterization of the tokenized version of the assets, which may attract supervision of different sectoral regulators,...

The Brazilian central bank digital currency (CBDC), the digital real, will be more of a wholesale asset instead of a public retail-focused token, according to statements from the president of the Central Bank of Brazil, Roberto Campos Neto. Campos Neto indicated that private banks in the country will be able to issue their own stablecoins that will be collateralized with digital real deposits. Digital Real Will Not Be Retail Oriented Brazil is planning to issue a CBDC that has a very different design when compared to other CBDCs like the digital renminbi , known also as Digital Currency Electronic Payment. The digital real, the Brazilian CBDC, will have a wholesale purpose, and will not be used for retail purposes. This information was revealed by Roberto Campos Neto, president of the Central Bank of Brazil, at a crypto summit hosted in Rio. About the projected uses of the digital real, Campos Neto stated: Banks will be able to issue stablecoins on their deposits and will develo...

Following a move towards $32,000 to start the week, BTC was fighting to stay above $29,000 during Tuesday’s session. The red wave which captured bitcoin bulls, also overcame ETH , pushing prices nearly 8% lower, as of writing. Bitcoin Following a strong start to the week, bitcoin was once again trading lower, as prices dropped below the $30,000 mark. Tuesday’s selloff saw BTC /USD slip to an intraday low of $29,311.68, which is over 7% lower than yesterday’s peak at $31,693.29. After breaking out of its $30,500 ceiling on Monday, prices were unable to penetrate the higher resistance point of $31,550, which was an entry point for bears. Looking at the chart, today’s candlestick appears to be a bearish engulfing candlestick, which has wiped out the precious three days of gains. Although prices are still trading above $29,000, should this floor break, then the target will likely be the $28,800 support level. As of writing, the 14-day RSI is tracking at 44.20, with its own support...

A Chinese prosecutor is reported to have given a thumbs up to the arrest of a listed big data company director accused of embezzling $8 million and using the funds to buy bitcoin mining rigs. Although Li Qunnan has denied the allegations, executives insist their evidence implicates him. Director’s Unsanctioned Use of Funds Discovered in November 2021 A prosecutor in Beijing, China, has reportedly approved the arrest of a former director of a listed big data firm who is accused of using fraudulently acquired funds to purchase bitcoin mining rigs. According to the company’s filings with Shanghai Stock Exchange, the director, Li Qunnan, is alleged to have embezzled about $8 million (55.53 million yuan) from Zhongchang Big Data. As per one Chinese language report , Qunnan, a former chairman of Zhongchang Big Data, is thought to have misappropriated funds during his tenure as a senior executive of the company. Zhongchang Big Data claimed it only became aware of the director’s unsanction...

The South Korean science and ICT ministry has said it will recruit companies that will participate in its 2022 Metaverse Content Creation Project. A director in the ministry said the project is being promoted as part of the country’s industry-leading metaverse strategy. Building Trust in the Metaverse Content Creation Ecosystem South Korea’s Ministry of Science and ICT in conjunction with the National Information and Communication Industry Promotion Agency (NIPA) has said it will recruit companies that will be participating in the 2022 Metaverse Content Creation Project. Through the project, South Korea intends to support local metaverse content makers as well as the issuance of non-fungible tokens (NFTs). According to a report in the Korean language publication News 1, the goal of the project is to engender trust in the metaverse content creation ecosystem. Four companies will be selected to participate in the project and each one will receive approximately $160,000 (200 million...

Bitso, the Mexico-based cryptocurrency exchange, has announced a new partnership with Addem Capital, a debt fund that provides startups and other companies with financing options. The cryptocurrency exchange will process payments for the fund and provide conversion functions, allowing it to accept cryptocurrency as part of its payment options. Bitso Partners Addem Capital to Allow Latam Users to Invest With Crypto Cryptocurrencies are starting to be included more and more in traditional financial structures in the world and also in Latam. Bitso, a Latam-based exchange, announced a partnership with Addem Capital, a Mexican debt fund that allows startups to get access to financing structures. On the importance of these decentralized finance methods, Pedro Cetina, co-founder and managing partner of Addem Capital, stated: Cryptocurrencies and DeFi protocols have the potential to become a driver for financial inclusion in Latin America. Our model intrinsically has some operational com...

Citigroup CEO Jane Fraser warns that a recession is more likely in Europe than in the U.S. Nonetheless, she stressed that it is not easy for the U.S. to avoid a recession. Citigroup’s CEO on Global Recession Citigroup CEO Jane Fraser warned about the health of the global economy Friday, Reuters reported. Citi is the third-largest and most globally-focused U.S. bank. Speaking at an investor conference in New York, she talked about how “the three Rs” are affecting the global economy, stating: “It’s rates, it’s Russia, and it’s recession.” Fraser explained that Europe’s energy problems are “really having an impact on a number of companies in certain industries that are not even competitive right now.” She added that “some of them are shutting down operations … because of the cost of electricity and the cost of energy.” The Citi executive opined: Europe definitely felt more likely to be heading into a recession than you see in the U.S. Major central banks are already planning inte...

The U.S. Department of Labor has been sued by a 401(k) plan administrator over its cryptocurrency guidance. “This lawsuit seeks to preserve the rights of American investors to choose how to invest money in their own retirement accounts.” U.S. Labor Department Sued Over Crypto Guidance The U.S. Department of Labor (DOL) and Secretary of Labor Martin J. Walsh have been sued over the department’s Compliance Assistance Release No. 2022-01. The guidance, titled “401(k) Plan Investments in ‘Cryptocurrencies,'” was issued on March 10. The lawsuit alleges that the Labor Department breached its statutory purview by threatening “an investigative program” aimed at plan sponsors that offer digital assets. According to the court document: This lawsuit seeks to preserve the rights of American investors to choose how to invest money in their own retirement accounts. The plaintiff is Forusall Inc., which provides administrative and other services to retirement plans. The company claims t...

Tesla and Spacex CEO Elon Musk believes that Twitter is in material breach of the merger agreement with him, so he has the right to terminate the deal. The social media giant has refused to provide critical information relating to spam and fake accounts on its platform, Musk’s legal team explained. Elon Musk Could Terminate His $44 Billion Twitter Buyout Offer In a letter sent to Twitter Inc. Monday, which was also filed with the U.S. Securities and Exchange Commission (SEC), Elon Musk’s legal team wrote: Twitter has … refused to provide the information that Mr. Musk has repeatedly requested since May 9, 2022 to facilitate his evaluation of spam and fake accounts on the company’s platform. “Mr. Musk has made it clear that he does not believe the company’s lax testing methodologies are adequate so he must conduct his own analysis,” Musk’s lawyer added. The letter notes that Twitter is required to provide the data Musk asked for under the merger agreement. Musk’s legal team furt...

On June 6, the Web3 entertainment company Gala Games announced that the Wild West-focused battle royale blockchain game Grit will soon be available via the Epic Games Store and accessible to 194 million users. The well known company Epic Games is the producer of the Unreal Engine and the popular online video games Fortnite and Gears of War. Blockchain-Powered Grit Gets Added to the Epic Games Store — Gala Games Exec Says Epic Listing Brings Legitimacy to This New Genre of Gaming The Epic Games Store currently hosts a blockchain video game called Grit , a Wild West-based battle royale game built using the Unreal Engine. Grit players face a gang of gunslingers “in epic showdowns and shootouts” and the game features over 400 types of old-school guns. The game crafted by the Web3 entertainment firm Gala Games is listed on the Epic Games Store but the description notes that Grit is “coming soon.” Gala Games is also behind the Web3 first-person-shooter (FPS) Last Expedition , and the...

Gate.io is building on its success and evolving to become a remarkable crypto ecological landscape for its users, its ecosystem encompassing a vast variety of digital assets that collectively offer a feature rich experience to its users. With the 9th anniversary celebrations now kicked off, Gate.io is bringing even more innovative features to its users and updating its brand to continue to deliver quality and offer excellence. Read on to know more about Gate’s ecological map and what is in-store for users as part of its 9th anniversary! The Ecological Map of Gate.io One of the several secrets to Gate.io’s success is that it was one of the first to build a comprehensive solution for users on one platform – an ecosystem of digital assets. To date, Gate.io has grown and gone through a developmental curve, updating itself and gaining several achievements based on courageous innovation , being user-centric , and focused on global market improvement . Its wide range of product and serv...