Bitcoin News and Finance: What You Need to Know

Huobi Global, one of the biggest exchanges in volumes traded, has announced a partnership to make it easier for its Latam-based customers to acquire cryptocurrencies. The exchange has allied with Astropay, a payment services platform, to allow customers in Latam to purchase cryptocurrency with fiat currencies in several countries. Huobi to Make Crypto Easier to Purchase in Latam Huobi is aiming to be more appealing to Latam-based customers who want to enter the cryptocurrency market for the first time. The leading crypto exchange has recently announced a partnership with Astropay, a payment processing platform, to allow customers in Latam to purchase crypto using fiat currencies in selected countries. Customers will have to use Astropay’s wallet in order to purchase the assets, having the opportunity to do so in countries like Brazil, Mexico, Colombia, Chile, Peru, and Uruguay. The company informed that various payment methods would be supported, including credit and debit cards, ...

Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges. Under revised regulatory framework, two-thirds of crypto exchange directors must be Indonesian citizens residing in the country. Indonesia Plans to Tighten Crypto Regulation Indonesia is preparing to issue new rules to tighten the regulation of crypto exchanges, officials from the country’s Minister of Trade and the Commodity Futures Trading Regulatory Agency (Bappebti) said Tuesday at a parliamentary hearing in Jakarta. One of the new rules requires two-thirds of directors of crypto exchanges to be Indonesian citizens residing in the country. Didid Noordiatmoko, acting head of Bappebti, told parliament: That way, at least we can prevent the top management from fleeing the country if any problem arises. The new measure followed the financial trouble faced by Southeast Asia-focused crypto exchange Zipmex , which had to halt withdrawals. Crypto exchanges will also be required to use a third ...

The Uniswap Foundation (UF), the group behind the decentralized exchange (dex) Uniswap, announced the first wave of foundation grants on Wednesday as it plans to distribute $1.8 million total, awarded across 14 grants. The UF announcement details that a touch more than $800K will be awarded to Uniswap Diamond, a project being constructed by GFX Labs. Uniswap to Disperse $1.8 Million to 14 Different Projects On September 21, the Uniswap Foundation announced the first wave of grants that aims to bolster the decentralized finance (defi) ecosystem and progress research and development. According to the UF, the foundation will disperse $1.8 million in the form of 14 grants, and the project Uniswap Diamond will receive the largest sum. The Uniswap Diamond project is in the midst of being crafted by GFX Labs and it will get a total of $808,725 across 3 disbursements. The UF says the project is “one of the most ambitious initiatives ever to be funded by Uniswap Grants.” The other grants wi...

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Flybondi, a low-cost Argentine airline, is introducing blockchain tech in its operations. The company announced recently it will start issuing tickets as non-fungible tokens (NFTs), broadening the possibilities of what customers can do with them. Users will be able to sell or transfer the tokens to other travelers up to three days before the applicable flight, for example. Flybondi to Issue NFT Tickets More companies are including NFTs as part of their business models due to the perceived benefits and advantages they can bring. Flybondi, a low-cost Argentine airline, has also decided to use blockchain tech in its operations, announcing it will issue tickets as non-fungible tokens (NFTs), broadening the scope of what customers can do with them. The solution, which was developed by Travelx, a blockchain tech development company, will allow customers to trade, transfer, and sell the tickets, changing the names of the users up to three days before the flight. The alliance also introdu...

China’s special administrative region of Hong Kong is going to trial а digital version of its dollar as early as this year, in preparation for eventual roll-out. The territory is trying to catch up with those that are already launching central bank digital currencies, including the People’s Republic with its digital yuan project. Trials of Digital Hong Kong Dollar Planned for Q4 Hong Kong intends to begin testing a currency called the e-HKD, a digital incarnation of the Hong Kong dollar, in the remaining months of the year. The trials will be facilitated by the adoption of legislative amendments and the building of digital infrastructure necessary to support the project, the Hong Kong Monetary Authority ( HKMA ) announced, quoted by the South China Morning Post. The pilot phase comes after consultations conducted to gather feedback on potential demand, privacy aspects, and other issues that may arise around the issuance of a central bank digital currency ( CBDC ). Howard Lee, deput...

Changpeng Zhao (CZ), founder and chief executive officer of cryptocurrency exchange Binance, has announced the opening of an office in Romania. During a visit to the country, he met with high-ranking officials and emphasized Binance’s intentions to expand direct operations in Eastern Europe. Binance to Launch Romanian-Language Support This Fall, Exchange CEO Unveils in Bucharest Binance, the world’s leading crypto exchange by trading volume, is setting up a local office in Romania, CEO Changpeng Zhao revealed during his stay in Bucharest, part of a regional tour. The trading platform will also offer a Romanian version of its support service, starting from October. The move is part of Binance’s plans for wider expansion in Eastern Europe. The exchange already covers a large portion of the crypto asset market, with 120 million customers around the world using it to buy and sell various digital currencies. “We want to go global by playing locally in multiple markets,” its founder ela...

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 ...