Bitcoin News and Finance: What You Need to Know

Samsung Latam, the regional division of the electronics giant, has decided to present its own space in Decentraland, an Ethereum-based metaverse platform. The space, which will be named “House of Sam,” will allow users to have virtual contact with different products of the brand, and play mini-games to win Samsung-branded rewards for their avatars. Samsung Latam Dives Into the Metaverse Samsung Latam, the Latin American regional division of the electronics company, has decided to dedicate an online space to increasing the visibility of its brand in the digital world. The company will maintain a space called “House of Sam” in Decentraland, one of the biggest Ethereum-based metaverse platforms. According to reports, the goal of this move is to bring the brand closer to a new generation of consumers using the metaverse as a tool. The space is already open for users, being launched on September 1 with a virtual show from the Brazilian trio, Melim. About the launch of this new digital...

As a result of DeFi protocols, access to finance has been democratized, allowing anyone with an Internet connection to gain access to opportunities and services. However, they only gained popularity after the ‘DeFi summer of 2020’ and the yield farming craze that followed. The concept of yield farming has changed the way people view savings by becoming the standard means of generating passive income in the cryptosphere. Consequently, numerous DeFi protocols have developed their architecture and functionalities around yield farming. However, yield farming has remained virtually unchanged over the years despite its value. Introducing Animal Farm Animal Farm is a DeFi protocol that is modelled after George Orwell’s novel of the same name that criticizes centralized power. Unlike its competitors, it is the first and only decentralized ownership lending and yield aggregation protocol in the DeFi industry. The platform uses two native tokens, DOGS ($AFD) *live October 18th*, the rewar...

Telefonica, one of the world’s largest telecom companies, has closed an investment in the Spanish cryptocurrency exchange Bit2me. The company, which has been very active in the metaverse space, is entering the crypto payments arena by running a pilot to allow its customers to make payments via its online store Tu.com with an upper limit of $490. Telefonica Invests in Cryptocurrency Exchange Bit2me Telefonica, the fourth-largest telecom company in Europe, has decided to tackle the cryptocurrency business. The company announced an investment in Bit2me, a Spain-based cryptocurrency exchange, that will give it access to the implementation of the technology stack of the organization. The investment, whose details and numbers were not disclosed, is the first move of the company in the crypto area. Unnoficial sources disclosed that this participation could be between $20 and $30 million, giving Telefonica a very important stake in Bit2me. This fund injection would be giving the exchange ...

Monoverse, a blockchain game developer, announced the simultaneous listing of FDT (Frutti Dino Token), the governance token of its blockchain game Frutti Dino, which will list on global crypto exchanges Huobi Global and Gate.io from October 5th. Huobi Global and Gate.io announced on September 30th that FDT would be listed, and trade would begin on October 5th. Frutti Dino’s listing on the two exchanges represents an extremely significant step toward international recognition. Developed based on BEP-20, FDT (Frutti Dino Token) is the governance token of Frutti Dino, one of the most anticipated NFT Play-to-Earn games of 2023. A lot of effort is being put into preparing for the upcoming launch of Frutti Dino’s main game following the successful completion of its private sales last year and the first and second pre-sales in early 2022. It is anticipated that Frutti Dino Stories – a social game in the growth simulation genre where users raise Dino characters – will be launched in the fo...

Central Bank of Russia has introduced digital assets, including the digital version of the Russian ruble, to the recently published draft of the new banking chart of accounts. In the future, financial institutions will be able to provide data about operations with these assets. Russian Banks to Record Digital Currencies as Assets in Their Accounting Books The Central Bank of the Russian Federation (CBR) has released the draft of the updated banking chart of accounts for next year. Starting from 2023, Russian lenders will be required to account for new types of transactions, including digital ruble flows and operations with digital financial assets (DFAs). The monetary authority has been expanding the testing of its new central bank digital currency ( CBDC ) this year and hopes to pilot real-value settlements in early 2023. Authorities in Moscow are also working to more comprehensively regulate decentralized digital currencies. The current DFA law refers mostly to coins and tokens...

A surge in the demand for foreign exchange and the general scarcity of the resource may be the reasons why the naira currency recently slumped to a new all-time low of 735 versus the U.S. dollar, a report has said. One Nigerian currency dealer said he expects the naira to further depreciate to 750 per dollar in October. Foreign Exchange Scarcity On September 29, the Nigerian currency lost further ground versus the greenback after the naira’s parallel market exchange rate slumped to 735 units per dollar. The naira’s latest plunge came just days after the Central Bank of Nigeria (CBN) announced a 150 basis points (bps) upward adjustment of the monetary policy rate (MPR). As reported by Bitcoin.com News just before the CBN’s interest rate increase, one U.S. dollar bought 720 nairas on the foreign exchange parallel market. The Central Bank of Nigeria has in the past suggested that the naira’s fall may be linked to the activities of currency speculators. However, according to a repo...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has predicted that the U.S. dollar will crash by January next year after the Federal Reserve pivots. He named bitcoin as one of the investments to buy as the Fed continues to raise interest rates. Robert Kiyosaki Predicts Imminent Crash of US Dollar The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with a dire warning about the U.S. dollar, predicting that the USD will crash in a few months. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Following the British pound nosediving against other currencies and the Bank of England taking emergency action with a bond-buying program to calm markets, Kiyosaki tweeted Saturday, “English pound died this week.” The famous author shared his expectation...

274 days or roughly nine months ago, the crypto economy was worth $2.34 trillion and at $967 billion the aggregate value of all 13,192 crypto assets is $1.48 trillion less. Most of the top digital currencies tapped an all-time price high in November 2021 and today, a great majority of the top crypto assets are down between 70% to 90% in value against the U.S. dollar. 9 Out of 12 Crypto Assets Have Lost Significant Value Since Last Year’s Price Highs It’s almost a year later since the world’s top crypto assets tapped all-time highs in 2021, and a great number of digital currencies have lost considerable value. The following is a look at the top crypto assets by market capitalization, in order to see how much USD value each coin has lost. The leading crypto asset by market valuation bitcoin (BTC) is currently trading for prices between $19,078 to $19,377 per unit during the last 24 hours. Bitcoin is down today, 72.1% lower in USD value than the all-time high ($69,044 per unit) prin...

Rumors of expanding war, massive inflation destroying people’s purchasing power, and widespread volatility in the world of fiat currencies shaped the news this past week, with similarly dynamic developments in the world of cryptocurrency. Rich Dad Poor Dad author Robert Kiyosaki says the “end is here” for fake money. This and more just below in the latest Bitcoin.com News Week in Review. While the US Dollar Tramples the Euro, Pound and Yen, Russia’s Ruble Skyrockets Against the Greenback While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback last week. During the first week of September, Russia told the press China would pay for natural gas with rubles and yuan. Moreover, Switzerland’s imports of Russian gold reached a high not seen since April 2020. Read More Report: Gap Between Ethiopian Currency’s Official and Parallel Market Exchange Rate Grows to New Record The Ethiopian birr currency’s par...

The Uganda-based digital lending fintech startup, Numida, has said it will start offering its services to micro, small, and medium-sized enterprises in other African countries. Numida’s plans to offer its services to businesses beyond Uganda’s borders came shortly after it was announced that the startup had raised a total of $12.3 million in its pre-Series A funding round. Serena Ventures, a venture capital firm founded by American tennis player Serena Williams, led the funding round. Unlocking the Potential of Small Businesses in Africa Numida, the Uganda-based fintech, has said it plans to take its digital lending business outside the country, using part of the $12.3 million it raised via its pre-Series A equity-debt funding. The round was led by the U.S. tennis star Serena Williams’ venture capital firm Serena Ventures. Also participating in this funding round were Breega, 4Di Capital, Launch Africa, Soma Capital and Y Combinator. In comments following Numida’s successful capit...

The monetary policy committee of the Kenyan central bank recently revealed it increased the central bank rate by 75 basis points from 7.5% to 8.25%. Justifying its decision to act, the committee cites growing inflationary pressures and increased global risks, as well as their likely impact on the domestic economy. Growing Inflationary Pressures Following its latest meeting, the monetary policy committee (MPC) of the Central Bank of Kenya (CBK) announced it approved increasing the central bank rate (CBR) from 7.50 percent to 8.25 percent. The MPC, which is chaired by the central bank governor Patrick Njoroge, approved the interest rate adjustment to shield Kenya from the imploding global economy. With the upward adjustment of the CBR, the Kenyan central bank appeared to follow in the footsteps of the Central Bank of Nigeria which recently increased its monetary policy rate by 150 basis points. However, unlike the CBN, which hiked interest rates after seeing its inflation rate jump ...

Crypto firms in Uzbekistan will have to pay fees to the state under new legislation proposed by regulators. The charges vary depending on the business activity and can reach $11,000 a month in the case of digital asset exchanges. Failure to pay will result in license suspension. Crypto Operators in Uzbekistan to Be Charged Fixed Fees for Their Business Activities Authorities in Uzbekistan have adopted a law which obliges entities working with cryptocurrencies to make special contributions to the state budget. The legislation, put forward by the country’s main crypto regulatory body, has come into force after registration with the Ministry of Justice, as required. According to the bill authored by the National Agency of Perspective Projects (NAPP) under the President of Uzbekistan, licensed crypto companies will have to pay the charges each month. Different rates have been set for the various categories of cryptocurrency operators. Crypto exchanges, for example, will be charged th...

Juno, the Singapore-based Web3 crypto firm that offers customers checking accounts tied to crypto assets, has raised $18 million in a Series A financing round led by Parafi Capital. The fresh capital follows the startup’s seed round in 2019 when Juno raised $3 million from investors. Juno Raises $18 Million in a Funding Round Led by Parafi Capital, Crypto Startup Reveals Loyalty Token The Web3 crypto startup Juno is a digital currency company that provides clients with the ability to create a checking account by leveraging crypto assets. On October 1, it was revealed that the company has raised $18 million in a Series A funding round led by Parafi Capital. According to the announcement, Juno’s Series A investors also included 6th Man Ventures, Hashed, Sequoia India’s Surge, Greycroft, Jump Crypto, and Uncorrelated Fund. Varun Deshpande, the co-founder and chief executive officer of Juno, told Tech Crunch reporter Manish Singh the firm has “has reached $1 billion in annualized tra...

Quant moved close to a six-month high on Saturday, as the token remained in the green for a second consecutive session. The rally comes as prices are now up by over 25% in the last seven days. Dogecoin was also in the green, as prices moved higher for a third consecutive day. Quant (QNT) Quant (QNT) was one of the notable gainers to start the weekend, as prices moved closer to a six-month high. QNT/USD raced to an intraday high of $146.52 on Saturday, less than a day after trading at a low of $138.40. Today’s high was marginally below Friday’s peak of $147.00, which is the strongest point that quant had hit since March 29. Looking at the chart, the move comes as the relative strength index (RSI) broke out of a ceiling at 73.00. As of writing, the index is tracking at 75.81, which is deep in overbought territory, and could act as a signal for bears to reenter the market. The 10-day (red) moving average continues to remain higher, however, bulls will likely begin to consider secu...

After a move above $20,000 on Friday, bitcoin was back in the red on Saturday, as prices fell close to a key support point. As a result of this move the token has been largely unchanged in the last week, with price up 0.87% in the last seven days. Ethereum was also lower to start the weekend. Bitcoin Bitcoin ( BTC ) fell below $20,000 to start the weekend, as bearish sentiment returned following a brief rally late on Friday. Following the release of the University of Michigan Consumer Sentiment report for September, which showed improvement from the previous month, BTC surged to a peak of $20,109.85. However on Saturday, the token slipped to an intraday low of $19,238.12, falling below its floor of $19,300 in the process. Looking at the chart, the move comes as the 14-day relative strength index (RSI) continues to move away from its ceiling at 49.00. As of writing, the index is tracking at 45.45, which is close to another support point near the 44.00 region. Should this floor ...

Laliga, the premier soccer league organization in Spain, has announced a partnership with Globant, an Argentine software giant, to bring Web3 and metaverse experiences to its fans. The partnership will combine Globant’s tech resources with Laliga’s tech division in order to build products to expand the reach of the organization in the digital realm. Laliga Enlists Globant’s Aid to Build Its Metaverse Stack Big sports organizations are getting closer to the digital world as a way of reaching new fans and offering new interaction possibilities for their users. Laliga, the premier soccer league organization in Spain, recently announced a partnership that will serve to expand the digital reach of the company. The organization partnered with Globant, a Buenos Aires-based software giant, to build metaverse and Web3 experiences for current fans and new users. These new additions would come to complement the current digital offer of Laliga’s tech division, which currently includes fantasy...

The largest decentralized exchange (dex) platform by global trade volume, Uniswap, is looking to raise between $100 and $200 million, according to a report citing people familiar with the company. The funding round is currently in a nascent stage as the report claims Uniswap has been “engaging with a number of investors.” Sources Say Uniswap Is Eyeing a Fresh Capital Raise From Investors Like Polychain According to four unnamed sources familiar with the matter, Uniswap is eyeing fresh capital from investors. The news stems from a report published by Tech Crunch reporter Manish Singh who cites the parties familiar with Uniswap’s business dealings. Singh says the sources claim that the decentralized exchange (dex) startup is “engaging with a number of investors” and one of them is Polychain Capital. Uniswap is seeking roughly $100 to $200 million in fresh capital and could print a post-valuation of around $1 billion. To date, Uniswap has raised around $12.8 billion from investors. F...

New sanctions discussed by EU member states amid the current escalation of the conflict in Ukraine are going to restrict European crypto services for Russians. Reports about the tightening have come after earlier this year the Union banned only “high-value” crypto-asset services to Russian residents and companies. EU Expected to Target Crypto Services for Russians in New Round of Sanctions Over Ukraine The European Union is preparing to punish Russia with more sanctions over its decision to announce partial mobilization as part of its escalating military intervention in Ukraine and moves to annex occupied Ukrainian territories through what are seen as sham referendums. The package will hit trade in the first place, with European Commission President Ursula von der Leyen announcing intentions to impose a new ban on Russian imports as well as the export of technologies that could be employed by the Russian military. A price cap for Russian oil is planned, too. The new measures would...

Binance has officially launched a cryptocurrency exchange in New Zealand after successfully registering with the country’s financial regulator. “We see significant value in having a serious New Zealand presence,” said Binance CEO Changpeng Zhao (CZ). Binance Launches Crypto Trading Platform in New Zealand Global crypto exchange Binance announced Friday that it has successfully registered as a financial service provider with the New Zealand Ministry of Business, Innovation and Employment (MBIE). The crypto exchange also announced the official launch of Binance New Zealand (Binance NZ). Noting that the registration was actually effective on Sept. 10, the company detailed: This registration allows Binance NZ to offer a range of financial services, including spot trading, staking, NFTs and more. Binance CEO Changpeng Zhao (CZ) commented: “A lot of major tech firms are slow to open a New Zealand office. I guess for some, it’s easy to overlook as it’s a smaller market but we see sign...

The Delaware Department of Justice’s Investor Protection Unit has issued a cease and desist order against 23 entities and individuals involved in a popular cryptocurrency scam known as “pig butchering.” The order also freezes the accounts allegedly holding cryptocurrencies belonging to the victims. Delaware Cracks Down on Pig Butchering Crypto Scam The attorney general of the U.S. state of Delaware, Kathy Jennings, announced Wednesday that the Investor Protection Unit of the state’s Department of Justice (DOJ) has “issued a summary order to cease and desist against 23 entities and individuals involved in a cryptocurrency scam known as the ‘pig butchering scam.'” Pig butchering crypto scams have recently become alarmingly popular . Victims of this type of scam “are groomed over time to make investments using cryptocurrency, only to find that what they thought was a safe investment was a scam,” the Delaware DOJ detailed. “The moniker stems from the scammers’ practice of ‘fattenin...

The mobile software, cloud-based services, and business intelligence (BI) firm Microstrategy is seeking a full-time Lightning Network software engineer, according to a job listing published this week. The developer, if hired, will build a Lightning Network-based software as a service (SaaS) platform for the company so it can be used for ecommerce use cases and connect with enterprises looking for payment solutions as well. Microstrategy Looks to Hire Lightning Network Software Developer After the company purchased 301 bitcoin ( BTC ) to hold on its balance sheet, the BI firm Microstrategy published a job listing on the web portal smartrecruiters.com. Microstrategy’s job offer is for full-time employment as a Bitcoin Lightning Software Engineer and the chosen individual will be in charge of creating a Lightning Network (LN) SaaS platform. “As a Bitcoin Lightning Software Engineer at Microstrategy, you will build a Lightning Network-based SaaS platform, providing enterprises with in...

According to a recent Chainalysis report, although Sub-Saharan Africa is believed to account for as little as 2% of global transaction activity, the area “contains some of the most well-developed cryptocurrency markets of any region.” Additionally, Sub-Saharan Africa’s “retail market and outsized usage of P2P platforms make it unique compared to other regions.” Sub-Saharan Africa’s ‘Outsized Usage of P2P Platforms’ According to a new report by blockchain intelligence firm Chainalysis, Sub-Saharan Africa’s total crypto transaction volumes of $100.6 billion seen between July 2021 and June 2022 are the least of any region that has been surveyed. While the on-chain volumes during this period are 16% higher than the preceding period, the report nevertheless states that Sub-Saharan Africa only accounts for 2% of the global crypto activity. Still, according to the blockchain analysis firm’s findings, Sub-Saharan Africa likely has some of the most developed cryptocurrency markets global...