Bitcoin News and Finance: What You Need to Know

Galaxy Digital Holdings and the company’s CEO and founder Mike Novogratz announced the company has “exercised its right to terminate” a previously announced acquisition of Bitgo. According to Galaxy the termination of the deal was due to Bitgo’s “failure to deliver” audited financial statements for 2021. Galaxy Ends Deal With the Crypto Custodian Bitgo On Monday, Galaxy Digital Holdings (TSX: GLXY ) explained that the company has terminated a proposed $1.2 billion stock and cash deal that would allow the crypto firm to acquire the digital asset custody business and financial services provider Bitgo . Galaxy’s announcement details that the abandoned deal was due to Bitgo’s “failure to deliver” specific financial documents. “[Galaxy] exercised its right to terminate its previously announced acquisition agreement with Bitgo following Bitgo’s failure to deliver, by July 31, 2022, audited financial statements for 2021 that comply with the requirements of our agreement,” the crypto com...

India’s finance minister has cautioned investors about cryptocurrency as the country’s Enforcement Directorate (ED) investigates a number of crypto exchanges and freezes the assets of some trading platforms. Indian Finance Minister Cautions About Crypto Indian Finance Minister Nirmala Sitharaman reportedly warned about cryptocurrency Saturday at an event organized by the BJP Economic Cell. She cautioned the public and entrepreneurs that cryptocurrency is not currency, stating : The government has already warned. I think all of us will have to share our thoughts and move with a bit of caution on this. On Thursday, News18 reported that the finance minister asked investors to exercise caution on crypto, emphasizing that a new law on cryptocurrency is coming soon. Her statements came as India’s Enforcement Directorate (ED) probes cryptocurrency exchanges in relation to its money-laundering investigations. The law enforcement agency has frozen the assets of at least two cryptocurre...

JPMorgan CEO Jamie Dimon has shared his predictions for the U.S. economy, including a chance of “something worse” than a recession. “There are storm clouds,” the executive said, citing interest rates, QT, oil, Ukraine, war, and China. JPMorgan Chief Jamie Dimon’s Economic Forecasts JPMorgan’s chairman and chief executive officer, Jamie Dimon, reportedly shared his predictions about where the U.S. economy is headed during a client call last week, Yahoo Finance reported Saturday. While noting that the U.S. economy is strong, with consumers’ balance sheets and businesses in good shape, the executive emphasized that “you have to think differently” when forecasting. The JPMorgan chief described: “What is out there? There are storm clouds. Rates, QT, oil, Ukraine, war, China.” Dimon shared: “If I had to put odds: soft landing 10%. Harder landing, mild recession, 20%, 30%.” He added: Harder recession, 20%, 30%. And maybe something worse at 20% to 30%. “It is a bad mistake to say ‘her...

After three years of dormancy, a massive ethereum whale that participated in the project’s first token sale, also known as the Genesis initial coin offering (ICO), spent 145,000 ether worth just over $276 million using today’s ethereum exchange rates. Mega Ethereum Whale Distributes 145,000 Ether to 9 Different Addresses On August 14, 2022, onchain data indicates that a whale who participated in the Ethereum Genesis ICO has moved 145,000 ETH to various addresses. The funds were worth $276 million using current ETH exchange rates. It was the first time the Genesis ICO participant spent coins since 2019, back when 5,000 ETH exited the whale’s wallet. At the time of writing, the address currently holds 0.‍1177 ETH worth $22,4 after it emptied the 145,000 ether. The transfers on Sunday were sent in multiple batches of 5,000 ETH , 10,000 ETH , and 20,000 ETH increments. The whale ended the transfers with a final 10,000 ETH transfer sent at 12:18 a.m. (UTC). The wallet owner also...

Do you have a talent for picking winners? Do you follow athletes’ careers and know who is gonna be successful? So why not benefit from that?! Upcoming NFT Platform OWNIC empowers sports fans to earn from the real world performance of the stars they pick using dynamic NFTs. It introduces a number of revolutionary concepts to the space of collectible sports cards that will create new ways for fans to earn from fantasy sports leagues and metaverse gaming. OWNIC has also already proven its credibility with exclusive partnerships with top global athletes in the fields of soccer and MMA. The NFT platform will launch on August 22, 2022 with the Pre-Sale for the collection of the captain of the Italian national football team and Juventus F.C., Leonardo Bonucci. Own a Piece of Your Favorite Player’s Success in an Officially Licensed Dynamic NFT Sports Platform OWNIC is an upcoming platform for NFT (non-fungible token) sports collectibles where an athlete’s performance is reflected on a card...

The city of Buenos Aires will deploy a number of Ethereum validator nodes in 2023. The statements were made by Diego Fernandez, secretary of Innovation and Digital Transformation of the city, who clarified this deployment will pursue exploratory and regulatory purposes and will help the city to develop regulations for cryptocurrencies. Buenos Aires to Deploy Ethereum Validator Nodes More and more cities are including cryptocurrency and blockchain projects as part of their development and growth plans. Buenos Aires will reportedly deploy validator nodes for the Ethereum chain in 2023. Diego Fernandez, secretary of Innovation and Digital Transformation of the city reported this at ETH Latam, an Ethereum-centric convention that is taking place in the city. Fernandez clarified the interest of the city in running these nodes had an exploratory purpose, and that they expected that running these nodes will allow them to have a deeper understanding of the Ethereum chain in order to regul...

Vaculug, a British company that brands itself as Europe’s largest independent tire retreader, will now accept cryptocurrencies for its products and services. Its management says the business must move with the times and offer customers more options than pounds and pence. Vaculug to Take Major Coins, Offer Contracts in Cryptocurrency U.K.-based tire retreading firm Vaculug has announced it will accept two leading cryptocurrencies, bitcoin (BTC) and ethereum (ETH) as a means of payment for tires and related services. The company claims it’s the first in the industry to do that. In a press release , Vaculug also revealed it intends to sign fixed price contracts in ‘crypto per kilometer’ and ‘crypto per vehicle’ formats, if customers would like to fix or link them to the prices of the two supported cryptocurrencies. Blockchain is not the future but the now, says Vaculug’s IT manager Jason Humphries. “We believe that all companies will have to accept cryptocurrencies in the near futu...

“Freedom in a wallet” is how Member of European Parliament Stefan Berger describes the non-fungible token (NFT) he is now selling on Opensea. The NFT represents a pair of ‘Bergoletten’ slides. Shoes symbolize the first step in every development, says Berger who invested efforts in making sure Europe’s upcoming crypto legislation gets the backing of his colleagues. European Lawmaker Auctions NFT Slides on Opensea Stefan Berger, the German member of the European Parliament (MEP) who was tasked to facilitate the progress of EU’s Markets in Crypto Assets ( MiCA ) regulatory package, has come up with a summer initiative to promote tokenization, something “as groundbreaking for the world as the introduction of the stock market was in the 17th century.” In late July, the member of the group of the conservative European People’s Party urged his followers on Twitter to join an auction on the NFT marketplace Opensea. “My NFT is out now,” Berger announced in a post about the sale which ends...

Skybridge Capital is “pretty optimistic” about bitcoin and ethereum over the next 12 to 24 months. The global asset management firm’s founder explained that the world’s largest cryptocurrency could reach $300K in six years, urging investors to “just relax” and “stay long-term.” Skybridge Optimistic About Bitcoin and Ethereum Anthony Scaramucci, founder and managing partner at global asset management firm Skybridge Capital, shared his firm’s outlook for bitcoin and ethereum in an interview with CNBC Friday. Replying to a question about whether the crypto winter is over, he said: “I want to caution people to see through the current environment,” citing better-than-expected economic data such as inflation and unemployment numbers released last week. “The crypto market, it’s our belief that most of the leverage is completely out of that system. So you are seeing a very strong recovery,” the Skybridge founder described, elaborating: It is a reminder to investors not to pull out, fig...

In just over a month’s time, The Merge is likely to be implemented on the Ethereum blockchain and the network’s proof-of-work (PoW) miners will be forced to mine another coin. So far, it seems ethereum miners are sticking with the PoW Ethereum chain until the very end as profits have increased. While Ethereum will change the consensus ruleset, a great number of crypto community members are attempting to guess where the hashrate will go after The Merge transition. The Crypto Community Wants to Know Where Ethereum Miners Will Go After the Merge — There’s a Myriad of Different Theories On August 11, 2022, Ethereum developers let the community know during a Consensus Layer Call livestream that The Merge will most likely happen on or around September 15th to the 16th. The following day, Ethereum co-founder Vitalik Buterin confirmed that The Merge would likely happen on September 15. “The terminal total difficulty has been set to 58750000000000000000000. This means the ethereum PoW netw...

The governor of the Zimbabwean central bank, John Mangudya, recently said his organization “has developed a roadmap for adoption of CBDC [central bank digital currency] in Zimbabwe.” Mangudya also revealed that two fintech startups had been admitted into the central bank’s fintech regulatory sandbox. Stakeholders’ Views Wanted Nearly six months after announcing the Reserve Bank of Zimbabwe (RBZ)’s intention to explore the feasibility of launching a central bank digital currency (CBDC), the bank’s governor John Mangudya recently revealed that the central bank now has a roadmap for the envisaged digital currency. He said the bank’s development of the roadmap is in line with the government’s decision on the CBDC which was made in November 2021. Nevertheless, Mangudya suggested in his second monetary policy statement of the year that the RBZ is now eager to get the views of stakeholders. He said: The role of stakeholders in the CBDC journey is paramount and in that regard, the Bank ...

The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary authority intends to gradually connect various financial institutions to the platform. Russia’s Central Bank to Introduce Digital Ruble Currency in 2 Years The Central Bank of the Russian Federation (CBR) has recently published a draft document that sets out the main directions for its monetary policy in the next three years. The paper reveals that one of the key goals for the regulator will be the introduction of a digital version of the national fiat currency, the ruble, and reads: In 2024, the Bank of Russia will begin to gradually connect all credit institutions to the digital ruble platform and increase the number of available payment options and transactions using smart contracts. While the ...

The United States-based venture capital (VC) firm, QED Investors, recently led an investment round that raised more than $50 million for the Nigerian fintech Teamapt. The investment, as well as the VC firm’s hiring of personnel tasked with spearheading its investments in Africa, seem to point to QED Investors’ newfound commitment towards the continent. Teamapt’s Pre-Series C The fintech-focused venture capital firm, QED Investors, recently became an investor in a Nigerian company, Teamapt, a startup that specializes in providing payments and banking platforms. According to a Techcrunch report , QED led an investment round that reportedly raised more than $50 million for Teamapt. Besides QED Investors, the other participants in the investment round — which the Techcrunch report has called pre-Series C — were Novastar Ventures, Lightrock, and BII. The three all became investors in the fintech firm after they participated in Teamapt’s Series B round. Meanwhile, in his response to as...

Alexander Vinnik, the alleged owner and operator of the infamous cryptocurrency exchange BTC-e, has been found not eligible for release on bail in the United States, where he was recently transferred from Greece. The Russian, accused of large-scale money laundering through the now-defunct trading platform, and other crimes, rejects U.S. charges. Alexander Vinnik Remains in California Prison, Russian Embassy Offers Help Authorities in the United States have effectively denied release on bail for the IT specialist Alexander Vinnik, Russian media reported, quoting his record on the website of the Santa Rita Jail in California where he is incarcerated. Vinnik has been in the U.S. since his hasty extradition from Greece a little more than a week ago, which angered his international defense team. The crypto entrepreneur was arrested on a U.S. warrant in the summer of 2017, in the Greek city of Thessaloniki where he arrived on a family vacation. Greece first sent him to France in late 2...

Gold bug Peter Schiff has settled with Puerto Rico’s financial regulator and agreed to liquidate his Euro Pacific Bank. Schiff stressed that he is not admitting to any legal wrongdoing. Peter Schiff Liquidating Euro Pacific Bank Gold bug and notorious bitcoin skeptic Peter Schiff has settled with the Office of the Commissioner of Financial Institutions of Puerto Rico, also known as Oficina del Comisionado de Instituciones Financieras (OCIF), and agreed to liquidate his Euro Pacific Bank. He tweeted Wednesday: I have agreed to a settlement with Puerto Rican banking regulators that tasks me with leading an orderly liquidation of Euro Pacific Bank. He noted that the liquidation of Euro Pacific Bank is based on its having insufficient regulatory capital. The bank was not in compliance with the Puerto Rican minimum capital requirements. Schiff previously explained : “My team didn’t understand the rules. We were new to Puerto Rico. We were required to keep more capital than we though...

Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, is facing a class action lawsuit for promoting Voyager Digital’s crypto products. The plaintiffs claim that Voyager was “a massive Ponzi scheme” and Cuban “duped millions of Americans into investing.” Mark Cuban Sued by Voyager Investors A class action lawsuit has been filed in the U.S. district court of the southern district of Florida against Shark Tank star Mark Cuban, Dallas Basketball Ltd. (DBA Dallas Mavericks), and Voyager Digital CEO Steven Ehrlich. There are 12 lead plaintiffs. Referencing the case of “Mark Cassidy v. Voyager Digital Ltd., et al.,” filed in December last year, they alleged that Cuban and Ehrlich “went to great lengths to use their experience as investors to dupe millions of Americans into investing — in many cases, their life savings — into the Deceptive Voyager Platform and purchasing Voyager Earn Program Accounts (‘EPAs’), which are unregistered securities,” the lawsuit describe...

It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic. Top Banker Confirms Crypto Trading Still Illegal in Iran The purchase and sale of cryptocurrencies or using the digital assets for investment purposes is prohibited, the governor of the Central Bank of Iran ( CBI ), Ali Salehabadi, has recently told local media. At the same time, authorized persons and entities can legally mine crypto that can be employed for international settlements, the official pointed out. Referring to regulations adopted by the bank and other government institutions such as the Ministry of Industry, Mine and Trade two years ago, the CBI chief elaborated that it is legal for Iranian companies to pay for imports with cryptocurrency. He was quoted in a report by the English-lan...

PRESS RELEASE. SEOUL – Iskra took the stage at Korea Blockchain Week, outlining their vision of game publishing in the era of Web3. “The technology is now available for us to provide an ecosystem that enables better outcomes for everyone: players, game developers and the platform itself. There is now an opportunity for every stakeholder (especially players) to share in the overall value created by the game experience: from digital asset ownership, fandom development, to overall community participation.”, explains Ben Colayco, Iskra’s Global Managing Director. Iskra plans on distributing up to 100% of all platform fees to every stakeholder, based on their participation. Participation is determined through Iskra’s Community Ranking System that measures everything from running an Iskra network node (Pioneer NFT), staking Iskra’s native token (ISK), to simply using platform services. This form of Game Publishing for Web3 includes the players as stakeholders from the very beginning, cre...

Two of the biggest soccer clubs in Spain, Real Madrid and FC Barcelona, have applied to receive trademarks for some elements in the metaverse. The clubs have introduced an application that encompasses different activities and services that they can conduct in the metaverse, including a cryptocurrency wallet and the possibility of selling virtual merchandise. Real Madrid and FC Barcelona Interested in the Metaverse Sports teams are now moving their activities to the metaverse, in order to create new profit sources and also to improve feedback and their relationship with fans. Recently, two of the biggest soccer clubs in Spain, Real Madrid and FC Barcelona, have filed a joint trademark application to offer several services in the metaverse. Trademark Attorney Michael Kondoudis first reported about the trademark application on social media, reporting that it was filed on August 5. The trademark filing indicates that the two clubs may be interested in offering their own cryptocurrency...