Bitcoin News and Finance: What You Need to Know

Ripple CEO Brad Garlinghouse says he thinks “we’ll have an answer in the first half of next year” in the U.S. Securities and Exchange Commission (SEC) lawsuit over xrp. Maintaining that xrp is not a security, the executive stressed that the case “is about the whole industry” and “Everyone acknowledges how important this is.” Ripple’s CEO Expects Answer in First Half of Next Year Ripple CEO Brad Garlinghouse talked about the timeframe of the lawsuit by the U.S. Securities and Exchange Commission (SEC) over the sale of XRP during an event for DC Fintech Week, Bloomberg reported Tuesday. While acknowledging that it is difficult to predict the pace of court proceedings, Garlinghouse said: I think we’ll have an answer in the first half of next year. Whether that’s the first quarter or second quarter, we shall see. Garlinghouse further said Tuesday that Ripple would consider a settlement with the SEC if the regulator states that XRP is not a security. The executive stressed that th...

The Denver-based gas-to-bitcoin infrastructure company Crusoe Energy announced on Wednesday that it acquired the operating assets of Great American Mining (GAM). The acquisition gives Crusoe over 10 megawatts (MW) of mining capacity and 4,000 ASIC mining rigs. Digital Flare Mitigation Firm Crusoe Energy Acquires Great American Mining’s Assets, Acquisition Adds Approximately 9% to Company’s Capacity On October 12, 2022, the digital flare mitigation (DFM) company Crusoe Energy announced that it has acquired the assets of Great American Mining (GAM). Through the deal, not only does Crusoe get 10 MW of capacity and 4,000 ASIC mining devices, it also will benefit from “commercial relationships with several large-scale energy producers in the Bakken region of North Dakota and Montana.” Furthermore, it also has acquired a new facility in Ponchatoula, LA which will be used for Crusoe’s new research and development (R&D) center. The news follows Crusoe’s issues with the rival firm Alk...

European Parliament’s economic committee has backed the adoption of the comprehensive Markets in Crypto Assets (MiCA) regulation. It has also supported the introduction of rules for tracing cryptocurrency transfers, part of the latest EU anti-money laundering push. European Union’s MiCA Crypto Law Passes Another Hurdle Before Final Adoption The European Parliament Committee on Economic and Monetary Affairs (ECON) has approved the provisional deal on a landmark legislation tailored to regulate the European Union’s crypto space. The vote, in which 28 members were in favor and only one against, comes ahead of the Parliament’s plenary vote on the new framework. MEPs from @EP_Economics voted to confirm w/ 28/1 provisional deal on markets in crypto assets #MICA @DrStefanBerger ahead of the final plenary vote 30 June deal details https://t.co/zFPKaTxki9 — ECON Committee Press (@EP_Economics) October 10, 2022 Representatives of key EU institutions and member states reached an agre...

PRESS RELEASE. It is looking like the dawn of a new beginning for crypto enthusiasts across the globe as the Girles Token – GIRLES practically raises the bar, with reports that holders of trending coins such as Cardano ( ADA ) and DogeCoin (DOGE) are selling to purchase the versatile, utility token. Girles Token is the primary currency of the Girles Metaverse, which consists of NFT Metaverse, P2E Alliance, and free-to-play servers. The crypto space has witnessed tremendous growth over the years, with the increasing use cases of blockchain technology and the emergence of products and solutions such as NFTs and the Metaverse, further attracting millions of people to the phenomenon. However, many crypto enthusiasts still struggle to harness the features and benefits of the technology, which probably underlines the increasing popularity of Girles Token – GIRLES. GIRLES is already launched on presale, which comes in 5 different stages and potential profits of up to 200% for early bi...

Harare Institute of Technology, a Zimbabwean higher learning institution, is reportedly developing a central bank digital currency (CBDC). Quinton Kanhukamwe, the institution’s vice chancellor, said the digital currency is expected to help eliminate vices such as currency manipulation and unsanctioned foreign exchange deals. Eliminating Illegal Foreign Exchange Deals A Zimbabwean tertiary learning institution, the Harare Institute of Technology (HIT) is developing a central bank digital currency (CBDC), the organization’s vice chancellor Quinton Kanhukamwe has said. According to Kanhukamwe, the envisaged CBDC is expected to help eliminate vices such as currency manipulation, the hoarding of cash, as well as illegal foreign exchange deals. As per his remarks published by the Herald, Kanhukamwe, who spoke at a graduation ceremony also attended by Zimbabwean President Emmerson Mnangagwa, revealed how the blockchain-anchored CBDC can potentially bring the unbanked into the formal bank...

In the age in which contactless interactions are encouraged or where society is adopting new ways of making payments, it is thought by some to be imperative for progressive organizations and institutions to move with the times. As history has shown us, organizations quick to learn or embrace new ways of doing things can sometimes outcompete the ones that insist on continuing with old ways. Using Web3 to Raise Awareness of Plight of Hungry People It would appear that keeping up with the times is what Princess Charlene of Monaco and her charitable organization, The Princess Charlene of Monaco Foundation SA (PCMFSA) are already doing. Working with the internationally renowned South African artist, Junaid Senechal-Senekal, the foundation recently launched its first non-fungible token collection which went on sale on October 1. The 15-piece NFT collection features paintings of countless children and each has a watermark of Princess Charlene’s face. The objective of the NFT sale is to ...

Interoperable QR payments, a system that allows all digital wallets in Argentina to make payments in several stores, reached a record number in September. According to official numbers, 3.15 million payments were completed using this system, including cryptocurrency-based payments that exchanges like Bitso are already offering in the country. Interoperable QR Payments Gain Ground in Argentina Latam, due to its unique economic characteristics, has been a fertile ground for the eruption of innovative savings and payment technologies. Interoperable QR payments, which are payments that use codes to direct the funds to be moved and use a cellphone or an internet device, are currently gaining ground in Argentina. These are denominated “interoperable” due to the fact that the network provides its functionality to traditional banks and digital wallets, allowing all actors to be involved in the payments ecosystem. According to numbers derived from Coelsa, the system that receives and route...

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has given Coinbase “in-principle approval” allowing the crypto exchange to “offer regulated digital payment token products and services in the island state.” Coinbase stressed: “Today’s announcement underlines our commitment to Singapore as a regional hub.” Coinbase Committed to Making Singapore Its Regional Hub The Nasdaq-listed crypto exchange Coinbase announced Monday that it has received “In-Principle Approval (IPA) as a major payments institution license holder from the Monetary Authority of Singapore (MAS).” The announcement details: This license will allow us to offer regulated digital payment token products and services in the island state. “Today’s announcement underlines our commitment to Singapore as a regional hub,” Coinbase stressed. “Singapore serves as the hub for Coinbase’s APAC institutional business … Gaining this in-principle approval from MAS is an important step, as we plan to launch our fu...

On October 11, the U.S. Treasury department’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) announced that it has settled charges with the cryptocurrency exchange Bittrex. The crypto exchange was accused of sanctions violations and failure to “implement effective sanctions compliance controls” between March 2014 and December 2017. Crypto Exchange Bittrex Charged With US Sanctions Violations, Washington State Trading Platform Agrees to Settle The Washington State-based crypto asset exchange Bittrex has been charged by FinCEN and OFAC over “116,421 apparent violations of multiple sanctions programs.” According to the regulators from the U.S. Treasury department, the violations stemmed from transactions that were from “persons apparently located in the Crimea region of Ukraine, Cuba, Iran, Sudan, and Syria.” U.S. officials say that the transactions added up to $263.45 million worth of crypto transactions that were in violation of America...

Google Cloud has announced a partnership with Coinbase to drive Web3 innovation that includes using the crypto exchange to accept cryptocurrency payments. “We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers,” said Coinbase CEO Brian Armstrong. Google Cloud Partners With Coinbase Alphabet Inc.’s Google Cloud and the Nasdaq-listed crypto exchange Coinbase announced Tuesday “a new, long-term strategic partnership to better serve the growing Web3 ecosystem and its developers.” Under the agreement, Coinbase will use Google Cloud to build its advanced exchange, grow data services, and process blockchain data at scale. The exchange will also leverage Google’s fiber-optic network to enhance the global reach of its crypto services. In addition, Coinbase will build its global data platform on Google Cloud’s infrastructure and leverage the internet giant’s data and analytics technologies to provide Coinbase ...

On October 11, the publicly-listed bitcoin miner Cleanspark announced that it has completed the acquisition of Mawson Infrastructure Group’s Georgia-based bitcoin mining facility. Following the acquisition, Cleanspark says it now manages 220 megawatts (MW) of bitcoin miners with a hashrate of over 4.7 exahash per second (EH/s). Cleanspark Hashrate Moves Closer to 5 Exahash, Firm Obtains 6,500 Mining Rigs From the Facility Acquisition Cleanspark (Nasdaq: CLSK ) revealed on Tuesday that the mining firm has finished the acquisition of Mawson’s Georgia-based bitcoin mining facility located in Sandersville. The acquisition, Cleanspark says, included 6,500 mining rigs or roughly 560 petahash per second (PH/s) of hashpower. According to Cleanspark, the Sandersville site is the publicly-listed bitcoin miner’s fourth facility in Georgia. The other locations Cleanspark operates are located in Washington, College Park, and Norcross. “Mawson has built a world-class facility, staffed by an inc...

Ethereum fell to a nine-day low during Tuesday’s session, as the U.S. dollar rose to a two-week high. The decline comes ahead of this week’s U.S. inflation report, which is expected to show consumer prices falling by 0.2% month-on-month. Bitcoin was also in the red during today’s session, moving below $19,000. Bitcoin Bitcoin ( BTC ) fell below $19,000 for the first time in over a week in today’s session, as the U.S. dollar rose in strength. USD climbed to its highest point in nearly two weeks versus several of its G7 counterparts, ahead of Thursday’s inflation report. As a result, BTC /USD slipped to an intraday low of $18,984.66 earlier in the day, which is its weakest point since October 3. Looking at the chart, today’s drop in price sees the token fall marginally below its key support point of $19,300. In addition to the price, the 14-day relative strength index (RSI) also dropped below a floor of 45.80, and as of writing, is tracking at 44.67. Bitcoin bulls have since reen...

NTT Docomo, the largest telecom carrier in Japan, has launched a new division that will be dedicated to directing its metaverse push. The unit, named Qonoq, is already operating and has a staff of 200 people, researching and developing software and hardware solutions directed to integrate extended reality products for customers of the Japanese carrier. NTT Docomo Gets Into the Metaverse Telecom companies around the world are interested in the metaverse and the new services this digital world can bring to their customers. NTT Docomo, the biggest wireless telecom carrier in Japan with more than 80 million customers, launched its own metaverse division earlier this month — the first move of the company into the metaverse market. The unit is named Qonoq and has a staff of 200 employees that will be dedicated to building software and hardware-based products for users and customers of the company. The estimated budget that this newly formed unit will have is around $412 million and wil...

A Kenyan bitcoin mining company, Gridless, recently revealed how it is helping local communities reduce electricity costs by using excess generated power to mine bitcoin. The Gridless model has been hailed because it potentially helps to decentralize bitcoin mining as well as move some hashpower to Africa. Using Wasted Energy to Mine Bitcoin Gridless, a Kenya-based crypto mining company, has said the excess electricity from mini-grid hydro generators is now being used to mine bitcoin. The revenue generated from bitcoin mining helps to reduce or subsidize the cost of electricity. In a recently issued statement, Gridless said while mini-hydropower plants that generate below 100 KW (kilowatts) are being used so far, the company’s objective is to work with larger plants which can generate 500 KW. The bitcoin mining company said: We’ve been working with mini-grid hydro generators in Kenya on how to use their excess capacity for Bitcoin mining, which also significantly reduces the cost...

Bitbase, a Spanish cryptocurrency ATM company, is planning to keep expanding its services in 2023. The company, which received investments from Dextools and Woonkly, two Web3-based decentralized companies, aims to reach 200 cryptocurrency ATMs installed in Spain. Bitbase is also working to obtain licenses to begin operating in countries like Italy, England, Germany, and the Netherlands, and in Latam countries like Venezuela. Bitbase Receives Major Investments Bitbase, a Spain-based cryptocurrency ATM company with offices all around the world, is now aiming to further expand to new territories for next year. The company, which already has 100 crypto ATMs in Spain, received investments from two decentralized Web3 companies that could help it keep growing into new markets. Dextools, a company offering a series of tools dedicated to the handling of tokens in decentralized exchanges, acquired 22% of the company, while Woonkly, another decentralized exchange, and NFT marketplace, is now...

Following the United Nations Conference on Trade and Development (UNCTAD) report that the U.S. Federal Reserve should stop raising rates, Ark Invest CEO Catherine Wood has published an open letter to the U.S. central bank asking the institution to stop raising interest rates. Wood says that the “unprecedented 13-fold increase in interest rates” has not only shocked the world but it’s also pushing the economy toward risking a “deflationary bust.” Ark Invest’s Catherine Wood Says Fed’s Last 75bps Rate Hike Was ‘Surprising,’ Letter Says 13 to 16-Fold Increase in Benchmark Bank Rates Is Risky Ark Invest CEO Catherine Wood has published an open letter to the Federal Reserve which notes that the central bank’s aggressive benchmark bank rate hikes have been risky. Wood’s letter says the “Fed’s last decision to increase the Fed funds rate by 75 basis points was surprising.” Wood’s letter says that the Fed’s concept of reducing upstream price deflation is “likely to turn into downstream de...

Bitcoin was trading near a key support point on Monday as markets prepared for a big week of economic data. The headline release will be Wednesday’s U.S. inflation report, which is forecasted to come in at 8.1% for September, which is lower than August’s rate of 8.3%. Ethereum was also in the red, as the token slipped to a one-week low to start the week. Bitcoin Bitcoin started the week trading at a seven-day low, as markets prepared for a big week of economic data. BTC /USD slipped to a bottom of $19,162.31 on Monday, which saw prices drop below a key support point of $19,300. Since hitting this floor, bulls have since reentered, pushing prices back above the aforementioned support. Looking at the chart, today’s drop in price came as the 14-day relative strength index (RSI), fell to a bottom of its own. As of writing, the index is tracking 45.47, which is marginally above a support of 45.00, however, bulls have thus far rejected a breakout attempt. Should this continue to be t...

Changpeng Zhao, founder and CEO of Binance, the biggest cryptocurrency exchange by volumes traded, pondered the importance of decentralization and the relation it has with security and freedom. Zhao stated that there are several aspects of decentralization and that this is part of a gradient scale, explaining the different ways in which even Bitcoin can be seen as centralized. Binance CEO Changpeng Zhao on Decentralization and Its Degrees A lot has been said about the benefits decentralization brings to cryptocurrency projects and how it differentiates some initiatives from others. Changpeng Zhao, CEO of Binance, pondered on the importance of decentralization and how this characteristic must not be the objective, but a tool to achieve several objectives related to a cryptocurrency project. In a blog post published on October 9, Zhao explained that decentralization was not absolute and that there are several key aspects to it. He explained : Every aspect is a gradient scale, not s...

PRESS RELEASE. The world’s first blockchain-based global equity crowdfunding network – the Dacxi Chain – has been unveiled. The Dacxi Chain is a unique global ecosystem that creates digital tokenized versions of company shares, which can then be quickly and easily bought and sold all over the world. Connecting investors, entrepreneurs and deal makers from across the globe. A singularly complex technical challenge, the Dacxi Chain has taken the company’s tech team four years to develop. The advanced technical features within Dacxi Chain are built on the unique capabilities of blockchain. Dacxi CEO Ian Lowe says , “When we set out to create a global ecosystem to deliver thousands of funding deals to hundreds of thousands of investors around the world, there are many significant problems to solve. Emphatically, blockchain is the path to unlocking the limitless potential of equity crowdfunding.” The Dacxi Chain ecosystem must be equipped to deal with tokenized assets, cryptocurrency-...

With limited access to global finances, Russian businesses have begun settling in cryptocurrency with their partners abroad. Although these are still small-scale payments, government officials have noted their increase, which comes even before authorities have decided how to regulate these transactions. Cross-Border Crypto Settlements on the Rise in Russia as US Dollar and Euro Payments Decline Companies operating under sanctions imposed on Russia over the escalating conflict in Ukraine have started employing cryptocurrencies despite that the new regulations for this type of payment are expected to come into force in 2023 at the earliest, a government representative has revealed. Director of the Financial Policy Department at the Ministry of Finance Ivan Chebeskov acknowledged the trend in conversation with the Russian daily Izvestia. At the same time, he remarked that such cross-border settlements are still carried out on a limited scale. Russian entities are now actively using d...

Canadian company Dapper Labs has blocked operations with non-fungible tokens (NFTs) for Russian accounts. The move follows a new round of sanctions recently imposed by the EU which prohibit the provision of crypto-related services to Russian residents and entities. NFT Platform Dapper Labs Conforms to Latest EU Restrictions Against Russian Federation Dapper Labs, the creators of the Flow blockchain network and projects like Cryptokitties and NBA Top Shot , has complied with the new restrictive measures adopted by the European Union in response to Russia’s military intervention in Ukraine. The eighth package of EU sanctions was approved by Brussels on Thursday, Oct. 6, after the latest escalation of the conflict with Russia announcing partial mobilization and taking steps to annex four Ukrainian regions through what the bloc sees as fake referendums. The penalties, targeting the Russian economy, government and foreign trade, also feature financial measures affecting the business ...

Li Lin’s controlling stake in Huobi, one of Asia’s largest cryptocurrency exchanges, was recently acquired by About Capital Management for an undisclosed sum. Huobi’s acquisition by the Hong Kong-based asset management firm came shortly after the crypto exchange had exited the Chinese market. Lin’s Arrest in 2020 a Key Event for the Huobi Founder The Hong Kong-based asset management company, About Capital Management, recently became the biggest shareholder in the crypto exchange Huobi after it acquired founder Li Lin’s stake in the firm. The Asian crypto exchange’s acquisition by the “secretive” asset management firm has put an end to rumors suggesting that Sam Bankman-Fried’s FTX, Binance, and Justin Sun were interested in buying, or had already bought, Huobi. According to a Wublockchain report, following his arrest in 2020 by local law enforcement, Lin hinted he wanted to quit the Chinese market. “Without Huobi, everyone still has Binance and Okx. If you are disappointed, I’m so...