Bitcoin News and Finance: What You Need to Know

The Bank of Namibia recently said it has brought virtual assets and virtual asset service providers under its fintech innovations regulatory framework, and that it plans to amend applicable laws and regulations. According to the central bank’s governor, there is an ongoing “battle between regulated and unregulated money on the one hand and sovereign versus non-sovereign money on the other.” Amending Applicable Laws The Bank of Namibia (BON) has said that while cryptocurrencies have no legal tender status in the country, it has now brought “virtual assets (VA) and virtual assets service providers (VASP) under its Fintech Innovations Regulatory Framework in a phased approach, through its innovation hub.” The central bank added it is also considering amending “applicable laws and regulations diligently in consultation with other relevant authorities.” In a recently issued statement , the BON also clarified that even though privately issued digital currencies are still not legally reco

Tesla and Spacex CEO Elon Musk has hinted that “X, the everything app,” is coming. He explained that his purchase of the social media platform Twitter is an accelerant to the creation of X, which could knock three to five years off the project. Elon Musk’s X — The Everything App Tesla CEO Elon Musk has hinted about the creation of “X, the everything app.” Responding to a tweet about why he is buying Twitter, Musk wrote Wednesday: Twitter is an accelerant to fulfilling the original X.com vision. He similarly tweeted Tuesday that buying Twitter is “an accelerant to creating X.” In a follow-up tweet, he said that Twitter could accelerate X by three to five years. This was not the first time Musk mentioned X. In August, when asked whether he had thought about creating his own social medial platform if the Twitter deal does not come through, the Tesla boss replied : “X.com.” Some people pointed out on Twitter that the Tesla CEO is obsessed with the letter X. Firstly, X.com was an

Cryptocurrency exchange Binance has agreed to support Kazakhstan in ensuring the safe development of the country’s crypto market. The trading platform and Kazakhstan’s financial regulators intend to inform each other about cases involving the use of digital assets for illicit purposes. Binance Exchange to Help Kazakhstan Authorities Combat Crime Linked to Cryptocurrencies The world’s leading coin trading platform, Binance, and Kazakhstan’s Financial Monitoring Agency have recently signed a Memorandum of Understanding expressing their mutual interest in the safe development of the Central Asian nation’s virtual assets market. An announcement explained that the agreement will govern joint efforts to fight crimes involving digital assets. The crypto exchange and the regulatory body plan to share data that can be used to identify and block crypto holdings obtained by criminal means as well as those employed in the laundering of proceeds from crime and the financing of terrorism. Accor

PRESS RELEASE. It can be increasingly frustrating when someone has a worthwhile crypto and NFT project but cannot find a way to gain enough engagement. Many people fall into this category, believing they can handle promoting their crypto and NFT projects only to be swallowed by other projects. It is not like they have a better project. Instead, most of these creators and investors choose a top crypto marketing agent to handle all their project’s online marketing campaigns and strategies. But now that you know what you have been missing, it is still not enough to make your project the number one trending topic in crypto and NFT. So what next? Choosing the right crypto marketing agency with enough experience in creating awareness and ensuring investors invest heavily in a project. Thankfully, this article has removed the stress of selecting a top marketing agency by introducing the best one in 2022—ICO SPEAKS. So, what makes ICO Speaks the top crypto marketing agency in 2022? Here a

Jared Huffman, a United States lawmaker who advocates for increased scrutiny of crypto-mining entities, has reportedly chastised U.S. energy agencies that he accuses of failing to act on the White House’s call on them to do “reliability assessments of current and projected crypto-asset mining operations on electricity system reliability and adequacy.” However, a commissioner at the Federal Energy Regulatory Commission, Allison Clements, insists crypto mining should not be singled out from grid studies. Agencies Reviewing White House Recommendations Jared Huffman, a United States House of Representatives member, has reportedly queried some U.S. federal agencies’ unwillingness or reluctance to give their response to recommendations contained in a recently released White House report on cryptocurrency mining. According to Huffman, a California representative and member of the Democratic Party, the Federal agencies’ silence could well mean “this problem [environmental damage allegedly

The latest data from Coin 98 Analytics shows the Web3 gaming platform Gameta as the top-ranked gamefi (the intersection of gaming and finance) project after it garnered 1.85 million recorded subscribers by September 28. The data also shows that the top five gamefi projects alone accounted for more than 70% of September’s total gamefi subscribers in the top 20. Most Popular Project on the BNB Chain According to Coin 98 Analytics’ latest rankings of the leading gamefi projects, Gameta, a Web3 gaming platform, topped the list with 1.85 million subscribers as of September 28, 2022. The project’s phenomenal rise to the top spot means Gameta, which reportedly began September with 80,000 active daily users, now has subscribers that dwarf those of the more established gaming platform Axie Infinity. Before being revealed as the gamefi project with the highest number of subscribers, Gameta, according to one report , was already the most popular project on the BNB Chain. “Gameta [is] stil

Golden, a startup that seeks to build a decentralized data hub, has raised $40 million dollars in a Series B funding round. The round, which was led by a16z crypto, will allow the company to keep building its concept, which revolves around combining data submission and validation with Web3-based token incentives. Golden Raises $40 Million to Build Decentralized Encyclopedia Golden, a decentralized data hub company, has announced it has raised $40 million in its latest Series B funding round. The round, which was led by a16z crypto, had the participation of many big names in the VC industry including Opensea Ventures and leaders associated with Solana, Protocol Labs, Figma, and others. The company, which seeks to pair Web3 with the construction of a solid and verifiable information hub, will use the funds to keep building on its business model, which revolves around providing reliable data to customers. This is because current data mining models have proven to be unreliable, accor

Billionaire hedge fund founder Ray Dalio has stepped down as chief executive of Bridgewater Associates, according to a transfer of voting rights on September 30. Bridgewater’s co-chief executive explained on Tuesday that “Ray no longer has the final word,” in regard to the hedge fund’s future. Hedge Fund Giant and Bridgewater Associates Founder Ray Dalio Steps Down, Co-CEOs Mark Bertolini and Nir Bar Dea to Take Over Senior Management On Tuesday, October 4, after founding Bridgewater Associates more than 40 years ago, Ray Dalio stepped down as co-CIO. Bloomberg’s Erik Schatzker first reported on the matter after the hedge fund founder relinquished all of his voting rights to the board of directors on September 30. After founding Bridgewater in 1975, Dalio was considered a mogul hedge fund titan and within the first ten years of business, Bridgewater got a $5 million investment from the World Bank. Schatzker report cites Bridgewater’s co-chief executive, Nir Bar Dea, who told the r

In recent times, non-fungible tokens (NFTs) and their physical counterparts have started to debut at well known retail stores and luxury boutiques. On October 4, the NFT project called Veefriends revealed that the team is launching its limited edition series of collectible characters exclusively at Macy’s and Toys”R”Us. Veefriends holds the 20th position in terms of all-time NFT collection sales, with approximately $240.15 million in sales since the NFT project launched. Veefriends Are Coming to Macy’s and Toys’R’Us Retail Locations, Existing Veefriends Holders Can Claim Physical Counterparts The non-fungible token (NFT) project created by the serial entrepreneur Gary Vaynerchuk aims to debut in both physical and digital form at the retail stores Macy’s and Toys”R”Us. The collection is starting its pre-sale today and will officially launch on October 17. The collection will feature plush and vinyl characters of the Veefriends, and people can pre-order leveraging the Macy’s mobile ap

PRESS RELEASE. Coorest, a Polygon-native project, is the first blockchain project to have a certified standard for carbon compensation entirely on-chain — allowing anyone with an internet connection to compensate for their carbon footprint, thereby demonstrating that the newly certified Coorest Carbon Standard (CCS) is an excellent alternative to other pre-existing standards. As a result of the new standard, all activities related to carbon compensation must be carried out through the blockchain; this ensures that all steps of the carbon compensation process are visible at all times and the process is transparent. The Floodlight Chainlink node introduces a new level of accountability by monitoring carbon capture projects via satellite and validating the carbon capture process with satellite data. This feature proves actual carbon capture, thereby ensuring that Coorest’s carbon tokens are provably backed by absorbed CO2. Furthermore, the standard guarantees the additionality of Coo

YPF Luz, a subsidiary of the Argentine state oil company YPF, is currently piloting a project to power bitcoin mining operations with residual gas. The initiative, which is currently being tested in Vaca Muerta, one of the biggest oil fields in the country, seeks to take advantage of this byproduct from the initial stages of oil well drilling. Argentine Company YPF Luz Takes Bitcoin Mining to the Oil Wells Cryptocurrency miners are always looking for new forms of getting cheap and convenient power sources to run mining operations. YPF Luz, a subsidiary of the state-owned YPF in Argentina, is running a pilot project to take advantage of flare or residual gas to power bitcoin mining operations. This project, which has been running for three months in Vaca Muerta, a large oil field in the country, seeks to take advantage of this gas, which would be otherwise be burned. The gas in these oil fields cannot be taken to other sites to be used, so the only way is to bring interested parties

The United Kingdom-based gold dealer, Ash Kundra, has claimed that he recently ran out of gold coins and bars after the demand for the precious metal skyrocketed. The pound’s plunge to a record low versus the dollar, as well as the turmoil in financial markets, is said to be the cause of the sudden increase in demand for the precious metal. Demand for Gold ‘Increased Exponentially’ A United Kingdom-based gold dealer, Ash Kundra, has revealed that he repeatedly ran out of gold coins and bars in the days that followed the United Kingdom treasury chief Kwasi Kwarteng’s mini-budget proposal. Kundra, who operates from London’s Hatton Garden jewelry quarter, is quoted in a Bloomberg report suggesting that demand for the precious metal had “increased exponentially” following Kwarteng’s controversial proposals. According to the report , the rush to gold by Britons came at a time when the precious metal’s U.S. dollar value was approximately 20% lower than its March peak of just above $2,060

The Central Bank of Kenya appeared to rebuke the country’s new deputy president Rigathi Gachagua, after it rejected the latter’s claims the East African nation lacks enough foreign exchange to import oil. According to the bank, all the foreign exchange used in private transactions and for oil imports is sourced from commercial banks. Central Bank Only Sources Forex for the Government The Kenyan central bank has pushed back against remarks made by the country’s deputy president Rigathi Gachagua which implied the East African nation lacks foreign exchange reserves to import fuel. In a statement , the bank said it “does not supply foreign exchange for transactions other than for the national government.” According to the bank, all the foreign exchange used in private transactions and for oil imports is sourced from commercial banks. This has been the case since the complete liberalization of the foreign exchange market in the 1990s, the bank’s statement added. In addition, the Centr

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