Bitcoin News and Finance: What You Need to Know

Non-fungible token (NFT) sales this week dropped 10.88% lower than the week prior. Roughly $118.02 million worth of NFTs were sold this week compared to last week’s $132.43 million. Further, the top two NFT collections with the largest market capitalizations shed significant value during the past seven days. While Bored Ape Yacht Club’s market valuation lost 21.29%, Cryptopunks’ market cap slid by 19.18%. NFT Sales and Prices Nosedive NFTs had a lackluster week as sales and prices have followed in sync with falling crypto asset prices. Statistics show that a large number of NFT collections have lost considerable market value during the past week. For instance, metrics show that Bored Ape Yacht Club’s (BAYC) floor value on September 13, 2022, was $114,388 and today, the floor value is around $90,026 . BAYC’s market valuation on September 13 was $1.14 billion and today it’s down 21.29% to $900.25 million. Data shows that the second most expensive NFT floor value belonged to Cryptopu...

On Wednesday, the layer two scaling solution that leverages optimistic rollup technology, Boba Network has revealed it now supports the proof-of-stake (PoS) network Avalanche. According to the Boba Network team, the new Avalanche support will produce “faster transactions and lower fees.” Boba Network Integrates With the Avalanche PoS Blockchain Boba Network , the layer two (L2) scaling project introduced Boba AVAX L2 on Wednesday via the team’s Twitter account. “We’re over the slopes to announce our partnership as an official scaling solution for Avalanche,” Boba said. “ Avalanche offers blazing fast speeds, low costs, and eco-friendly solutions: Boba AVAX L2 holds true to those values and enhances it further.” Boba is already connected with the Ethereum ( ETH ) network and at the time of writing, l2fees.info stats show Boba’s fee to move ether today is $0.17, and to swap tokens the estimated price is $0.30. That is cheaper than the current 34 gwei ($0.96) to send ether onchain, ...

On Wednesday, the Japanese financial holding company and principal member of the Nomura Group, Nomura Holdings, announced the launch of a crypto-focused venture capital unit called Laser Digital Holdings. Nomura’s move follows a number of financial giants entering the cryptocurrency industry this year. Nomura Introduces Laser Digital Holdings The investment banking giant from Japan, Nomura Holdings, is stepping into the world of crypto assets and in the coming months the new venture will reveal a slew of “new services and product lines.” Nomura is one of the largest investment banks in Japan and one of the oldest in the country. The investment company established itself 97 years ago in Osaka in 1925 as Nomura Securities. The new Laser Digital Holdings is a Switzerland-incorporated holding company that aims to establish three vertical product offerings including secondary trading, venture capital, and investor products. The new venture will be led by Jez Mohideen as CEO and Steven A...

Africa-focused crypto exchange Yellow Card recently revealed it has closed its $40 million Series B funding round. The exchange’s announcement of its latest capital raise comes just over a year after it raised $15 million from its Series A round. Funds to Be Used for Development of New Products Yellow Card, an Africa-focused cryptocurrency exchange, recently disclosed it had closed its $40 million Series B funding round. The crypto exchange said it will use the funds raised to finance the development of new products as well as to “advance strategic partnerships across Africa.” According to a press statement , the exchange platform’s latest funding round was led by Polychain Capital with the participation of Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The Raba Partnership, Jon Weiner, Alex Wilson, and Pat Duffy. As reported by Bitcoin.com news in September last year, Yellow Card had raised $15 million in its Seri...

China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping up digitalization efforts this year. Government to Increase Digital Yuan Coverage in 4 Provinces of China Chinese authorities are going to expand the digital yuan’s area of application in four of the first pilot cities in the project to the rest of their respective provinces. These are Shenzhen in South China’s Guangdong Province, Suzhou in the eastern Jiangsu Province, Xiongan New Area in Hebei Province in the north, and Chengdu in Southwest China’s Sichuan Province. With the upgrade to province-wide testing in these regions, the government in Beijing hopes to “continue to push the innovation of China’s recognized cryptocurrency,” the English-language newspaper Global Times wrote, quoting a report by the Cnstock.com business news ...

The offshore exchange rate of China’s fiat currency versus the U.S. dollar recently breached the 7:1 mark for the first time in over two years, after it touched a new 2022 low of 7.0188 yuan for every dollar on September 15. Similar to other global currencies that have depreciated in 2022, the yuan’s decline is being driven by the strengthening of the U.S. dollar. The Yuan’s Depreciation The offshore exchange rate of the Chinese currency versus the U.S. dollar breached the seven RMB per every dollar mark after it traded at 7.0188 on September 15, 2022. This is the first time in over two years that the exchange rate of the two currencies has gone past this threshold. However, on the same day, the yuan onshore exchange rate had not breached the 7:1 threshold. According to a report in the Economic Times, the yuan’s depreciation against the greenback comes against the backdrop of a strengthening dollar. The currency’s decline also came amidst growing fears that the Chinese economy may...

Binance, one of the biggest crypto exchanges by volume traded, has announced its expansion plans for Brazil. The exchange will open two new offices in the country to host 150 employees, who will be able to choose if they want to work in-office or remotely. The company also hinted at the launch of a debit card in the future. Binance Expands Team Facilities in Brazil Latam countries like Brazil are becoming more and more important for cryptocurrency exchanges all over the world, due to the boom that crypto is experiencing in the region. Leading cryptocurrency exchange Binance has recently announced it will open two new offices in the country. However, according to reports, employees will have the choice of working in these offices or completing their tasks remotely. The two new offices, which will be located in Rio de Janeiro and Sao Paolo, will reportedly be shared co-working spaces, with the function of supporting the growing number of Binance employees in Brazil. While at the begi...

Work is underway in Ukraine to update the legal act that applies to cryptocurrencies in order to align the nation’s legislation with European standards. Several government institutions in Kyiv are preparing changes to the bill “On Virtual Assets,” which was signed into law earlier this year. Ukraine to Transpose European Crypto Regulations Into National Law Ukraine’s law “On Virtual Assets,” the main piece of legislation that concerns the country’s crypto space, will be amended in accordance with the provisions of the European Union’s Markets in Crypto Assets ( MiCA ) legislative package. Since the East European nation was granted the status of a candidate for EU membership, Ukraine needs to adapt its national legislation to European standards, the country’s Ministry of Digital Transformation explained, quoted by the crypto news outlet Forklog. The law was first adopted by the Ukrainian parliament a year ago, but President Volodymyr Zelenskyy returned it with some recommendation...

Bitcoin was trading marginally higher ahead of Wednesday’s United States FOMC meeting, where it is expected that the Federal Reserve will increase interest rates. As inflation continues to remain at elevated levels, many anticipate the Fed will raise rates by over 75 basis points. Ethereum was also up, after briefly falling below $1,300 on Monday. Bitcoin Bitcoin ( BTC ) was marginally higher on Tuesday, as markets began to prepare for tomorrow’s Federal Open Market Committee (FOMC) meeting. BTC /USD hit an intraday high of $19,639.48 earlier in today’s session, as prices rebounded from losses to start the week. The move came as bulls rejected an attempt to move below yesterday’s floor of $18,645, instead using this as a point of reentry. Looking at the chart, today’s gains have seen the 14-day relative strength index (RSI) move away from yesterday’s bottom below the 38.00 point. The RSI is currently tracking at 39.69. The next step for bulls would be to recapture the $20,000 le...

Eurocoinpay, a Spanish cryptocurrency exchange, has closed a deal to offer one of the first cryptocurrency-based debit cards in Spain. The card, which is already available for customers of Eurocoinpay, will allow users to acquire products in more than 90 million establishments in the European Union and around the world. Eurocoinpay Aims to Introduce Crypto Payments in Spain Eurocoinpay, a cryptocurrency exchange based in Spain, and registered with the Bank of Spain, has partnered with Mastercard to become one of the first companies in the country to offer its own cryptocurrency-based debit card. The company, which has been always interested in including cryptocurrency solutions as payment methods, believes that this will help its customers make better use of cryptocurrency assets. Herminio Fernandez de Blas, CEO of Eurocoinpay, believes this kind of intermediate product is necessary in order to popularize crypto. He stated this move “consolidates purchases with cryptocurrencies, s...

Just over a year after overseeing El Salvador’s adoption of bitcoin, the Central American country’s 41-year-old president, Nayib Bukele, recently declared his intention serve another five-year term. The announcement has been criticized by some who have been quick to remind Bukele that El Salvador’s constitution prohibits presidents from serving consecutive terms. Re-Election of Presidents a Common Practice in Developed Countries El Salvador’s bitcoin-embracing leader, President Nayib Bukele, recently revealed that he plans to serve another five-year term even though the country’s constitution bars presidents from serving consecutive terms. The announcement by Bukele, who reportedly enjoys high approval ratings, has been slammed by opponents and critics who accuse him of undermining the country’s democratic institutions. According to an Al Jazeera report , the 41-year-old leader made the announcement while delivering a speech about El Salvador’s independence. In the speech, Bukele s...

A new survey conducted by Harris Poll has found that most cryptocurrency investors in America feel they have the necessary tools to become billionaires in the future. The survey, which inquired about how Americans see billionaires, also revealed that this sentiment is higher amongst millennials and Gen Zers, with other groups falling behind Crypto Still Seen as Billionaire-Maker Investment, According to Harris Poll Survey While the recent downturn in the global economy and the subsequent price deceleration in traditional stock and crypto markets has made some investors lose confidence, many cryptocurrency investors are still optimistic. A survey conducted by Harris Poll in July has revealed that cryptocurrency investors are very hopeful about the future of the industry. Harris Poll contacted close to 2,000 Americans to inquire about their views on billionaires and how society sees them. 71% of the cryptocurrency investors polled stated that they believed they had the available too...

The Better Business Bureau (BBB) has warned about cryptocurrency scams on Tiktok. “You are scrolling through Tiktok when you come across a video showing a pile of cash. The creator says they earned the stack of money in just a few days by investing in cryptocurrency,” the BBB detailed. Crypto Scammers Defrauding Tiktok Users The Better Business Bureau (BBB) warned of cryptocurrency scams on the popular video-hosting platform Tiktok Friday. Founded in 1912, the BBB is a private, nonprofit organization that empowered people to find businesses, brands, and charities they can trust for over 110 years. The BBB explained that “as Tiktok’s popularity grows, so do the con artists.” Noting that it is seeing many new reports from its “Scam Tracker related to this money-flipping scam,” the BBB described: You are scrolling through Tiktok when you come across a video showing a pile of cash. The creator says they earned the stack of money in just a few days by investing in cryptocurrency. Sc...

U.S. President Joe Biden has shared his perspective on inflation. “I am more optimistic than I’ve been in a long time,” he said, noting that inflation has not spiked for several months. Many people disagree with Biden, with one saying that “families are poorer than when he took office.” US President Joe Biden’s Views on Inflation and the U.S. Economy U.S. President Joe Biden discussed a wide range of topics, including the U.S. economy and inflation, in an interview with 60 Minutes, aired Sunday. He was asked what he can do better and faster given that the annual inflation rate of 8.3%. Biden replied: First of all, let’s put this in perspective. Inflation rate, month-to-month, was up just an inch, hardly at all. Noting that he’s not arguing that 8.3% inflation is good news, Biden stressed: “It was 8.2% before.” While acknowledging that the inflation rate is the highest in 40 years, the president said: “Guess what we are, we are in a position where for the last several months it ...

The crypto asset exchange Wazirx is following Binance’s move by delisting a number of stablecoins and automatically converting them to BUSD at a 1:1 ratio. Wazirx customers have until September 23 to withdraw their stablecoins if they don’t want the funds converted. Wazirx Plans to Drop 3 Stablecoins and Auto-Convert Them to BUSD by October 5 During the first week of September, the world’s largest crypto exchange by trade volume, Binance, revealed it would be dropping a number of stablecoins. Binance also noted at the time, that customers had a certain period of time to withdraw the stablecoins or the funds would be automatically converted to BUSD. On September 19, 2022, the cryptocurrency exchange Wazirx said it would no longer support deposits for USDC, TUSD, and USDP. The announcement published on Monday details that customers can still withdraw the aforementioned stablecoins but only until Friday, September 23. Wazirx will “support withdrawals of USDC, USDP, and TUSD till 5 ...

While Nigeria’s year-on-year inflation rose for the seventh straight month to 20.52% in August 2022, the latest data from Nigeria’s National Bureau of Statistics shows that the month-on-month rate declined from 1.82% to 1.77% during the same period. The depreciation of the local currency, disruptions in the supply of food products, and an increase in the costs of production are said to be the factors behind the latest increase. Currency Depreciation Driving Inflation According to the latest data from Nigeria’s National Bureau of Statistics (NBS), the West African country’s headline inflation for the month of August 2022 topped 20.52%. The latest rate is 3.51 percentage points higher than the 17.01% recorded in August 2021. With this latest surge, Nigeria has now seen its year-on-year (YoY) inflation increase for the seventh consecutive month. According to the statistical body, the depreciation of the local currency is one of the main factors that caused the YoY inflation rate to ...

Between September 2021 and mid-June 2022, Samsung invested in 13 crypto/blockchain companies thus making the South Korean corporation the most active among the top 40 corporations. Google’s parent Alphabet firm, on the other hand, tops the category of top corporations that participated in the biggest funding rounds. 40 Corporations Invest $6 Billion According to the research firm Blockdata’s analysis of investments in blockchain and crypto startups by top corporations between September 2021 and mid-June 2022, the South Korean electronics giant Samsung was the most active having invested in 13 companies. United Overseas Bank, which invested in 7 companies is the next most active and is closely followed by two American financial services giants Citigroup (6) and Goldman Sachs (5). As shown by the analysis , the number of crypto or blockchain startups funded by Samsung, United Overseas Bank, Citigroup and Goldman Sachs in the period under review is nearly half (31) of the total numbe...

A report issued by Group-IB, a Singaporean cybersecurity company, has found that the number of cryptocurrency scams that use fake domains has exploded during the first half of 2022. The number of these domains has grown fivefold, and most of these campaigns, though registered with Russian registrars, are designed to reach English and Spanish-speaking crypto investors. Domains Associated With Crypto Scams Grew Immensely in H1 2022 The number of domains that are used to perpetrate cryptocurrency scams has multiplied during the first half of 2022. According to a report issued by Group-IB, a Singapore-based online security firm, the number of these domains, which are used as welcome pages for Youtube scam streams, has grown fivefold during the first half of this year. More than 2,000 of these domains were registered. Most of these cryptocurrency scam sites use the names of famous cryptocurrency-linked personalities to attract their victims. Among them is the President of El Salvador, N...

PRESS RELEASE. TOKEN2049 , Asia’s premier crypto conference, announced the DJ line-up of AFTER 2049 , the official closing event of this year’s September edition. Headlined by Istanbul-based DJ and producer Carlita, electronic icon DJ Tennis, and Moojo, Mo-Shi and Leon (Calamar Crew), AFTER 2049 will be taking place on Friday, 30 September as it takes over the rooftop of the city’s most iconic building, Marina Bay Sands. Occupying both the iconic observation deck that offers unparalleled, uninterrupted views of the Singapore skyline, and CÉ LA VI, one of Singapore’s most iconic nightlife institutions, AFTER 2049 will be hosted in tandem with the first practice round of the Formula 1 Singapore Grand Prix 2022 . The exclusive event will feature exhilarating views of the night race at what’s set to be the Singapore Grand Prix race weekend’s largest party. Raphael Strauch, Founder of TOKEN2049 said: “AFTER 2049 is our way of thanking our community, partners and speakers who’ve supported...

The U.S. Department of Justice (DOJ) has established the nationwide Digital Asset Coordinator Network of over 150 federal prosecutors. The authority explained that the new network will further its “efforts to combat the growing threat posed by the illicit use of digital assets to the American public.” US Government’s Digital Asset Coordinator Network The U.S. Department of Justice (DOJ) announced Friday that its Criminal Division has established the nationwide Digital Asset Coordinator (DAC) Network. The Justice Department noted that the DAC Network launch is “in furtherance of the department’s efforts to combat the growing threat posed by the illicit use of digital assets to the American public,” elaborating: Led by the department’s National Cryptocurrency Enforcement Team (NCET), the DAC Network comprises over 150 designated federal prosecutors from U.S. attorneys’ offices and across the department’s litigating components. The DOJ added that the DAC Network will serve as its ...

Britain’s top financial regulator, the Financial Conduct Authority (FCA), has issued a warning about cryptocurrency exchange FTX operating in the U.K. without authorization. “Almost all firms and individuals offering, promoting or selling financial services or products in the U.K. have to be authorized or registered by us,” said the regulator. FCA Warns About FTX Operating Without Authorization The U.K. Financial Conduct Authority (FCA) published a warning on its website Friday regarding crypto exchange FTX. The regulator detailed: We believe this firm may be providing financial services or products in the U.K. without our authorization. The FCA explained that FTX is not authorized but is targeting investors in the U.K. Firms carrying out specific crypto asset activities in the U.K. must comply with the amended “Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations,” and register with the FCA. “You will not have access to the Financi...

PRESS RELEASE. JPEX , a licensed digital bank designed to enable the buying and selling of virtual and digital currencies, has announced its partnership extension with the Australian-based football club, Western Sydney Wanderers. This contract renewal will see the crypto trading platform continue providing needed support to the A-League team until the end of the 2022/2023 footballing season. In addition to this partnership extension, JPEX recently launched the “Fix the Money, Fix the World” marketing initiative starring Kusini Yengi, Tomi Mrcela, and Lawrence Thomas—Western Sydney Wanderers players. Speaking about this campaign and the extension, Scott Hudson, CEO of the A-League football club, reveals that he is delighted with both announcements, and he’s looking forward to more support from JPEX in the forthcoming football seasons. “ After a year’s partnership with the Wanderers, we found that it was an amazing start to our relationship with the club doing everything they could ...