Bitcoin News and Finance: What You Need to Know

According to the crypto mining operation Pow.re Holdings Limited, the firm announced that it has begun construction of two new mining facilities in Asunción, Paraguay. The new data centers will manage 12 megawatts (MW) of hydroelectric power, and the firm has also acquired 3,600 Microbt Whatsminer mining rigs that produce roughly 396 petahash per second (PH/s) of hashrate. Pow.re Holdings Limited Commences Mining Facility Construction in Paraguay On October 13, Pow.re revealed that the company has commenced the construction of two new bitcoin mining facilities in Paraguay. The first site is expected to be fully operational by the end of 2022’s fourth quarter and the second should be readied by Q1 2023. The company says that the expansion will add a lot more hashpower to the firm’s operations and it hopes to achieve 0.5 exahash per second (EH/s) by Q2 2023. Just recently, Pow.re was in the news after it was revealed that Quebec’s Mohawk Council of Kahnawake was seeking power for cry

Bitcoin was trading below $19,000 on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. In the minutes, the Federal Reserve hinted at upcoming hikes, while also acknowledging a level of surprise at the rate at which inflation has risen. Ethereum moved below $1,300 in today’s session. Bitcoin Bitcoin ( BTC ) was back in the red on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. September’s minutes showed that the U.S. Federal Reserve was relatively surprised at the rate at which inflation has risen, whilst also signaling the prospect of upcoming rate hikes. As a result of the report, BTC /USD fell to an intraday low of $18,642.11, after a brief rally in yesterday’s session. Today’s sell-off takes the token to its lowest point since September 28, and close to a support of $18,600 in the process. Looking at the chart, the 14-day relative strength index (RSI) has also broken out of its floor at 41.00, whi

Cryptocurrency miners in Kazakhstan are to be required to convert up to three quarters of their income on locally registered exchanges, according to a new bill that’s advancing in the nation’s legislature. Lawmakers also want to make sure crypto companies pay their taxes and fees. Parliament of Kazakhstan Votes on Bill Regulating Activities of Crypto Miners and Exchanges A draft law designed to create a regulatory framework for both the production and circulation of digital assets in Kazakhstan has been approved on first reading in the Mazhilis. The bill and other supporting documents were prepared and submitted recently to the lower house of parliament on request of the country’s president, Kassym-Jomart Tokayev. One of the main purposes of the legislation is to establish rules for the operation of a new type of financial institution for Kazakhstan — licensed cryptocurrency exchanges. In order to support these trading platforms, the government plans to oblige crypto miners to exc

September has been one of the busiest months at Binance this year. Last month the world’s largest crypto exchange by trading volume kicked off the inaugural Binance Blockchain Week Paris, a three-day event exploring the best of Web3. They also expanded their ever-growing suite of products, including introducing a more user-friendly way to earn crypto passive income. Concurrently, the team has continued to push product innovation — which is something that Binance views as a crucial driving force for industry growth. The team’s values have remained unchanged despite the negative market sentiment. They strive to continue building for Binance users and the larger digital asset space. Here’s a quick summary of the Binance ecosystem’s biggest updates this month: Launched a new marketplace for crypto gift cards. Launched Simple Earn, a one-stop platform for passive crypto income. Added a new Web3 content feed for Binance Pro users. Invested in six different Web3 projects through Bina

Samsung, the consumer electronics giant, has announced the introduction of a blockchain-like security system for its smart devices. Named Knox Matrix, the objective of the system is to increase the security of a multi-device environment, with each smart device monitoring others and sharing access data to simplify login tasks. Samsung Blockchain-Powered Security System Blockchain technology is being harnessed for more and more uses each passing day, including security and trust-based applications. This time Samsung, the Korean consumer electronics and software company, has announced the implementation of a “private blockchain” system as a way of increasing the security of its smart devices. At the recent Samsung Developer Conference, the system, named Knox Matrix, was presented as a revamp of Samsung’s current security approach. While the company was thin on details and did not specify about the inner workings of the system, it did explain that it will interconnect the different sm

According to a report, some Egyptian banks recently informed clients who plan to travel abroad that they can now only withdraw $2,000 or less. The banks have also lowered the amount of foreign exchange that clients can withdraw when abroad. Egypt’s ongoing shortage of foreign exchange has forced some merchants to start demanding payment in dollars. Pound Depreciation As pressure against the Egyptian pound mounts, banks in the country are reportedly imposing limits on the amount of foreign currency travelers can withdraw before departing, or when they are abroad, a report has said. While there has been no formal announcement about the new limits, banks are said to have sent notices advising clients of the changes. According to a Reuters report , one of these banks, HSBC, has informed its clients that the maximum amount of foreign currency they can withdraw for travel purposes is now $1,500. Before the changes, the bank’s clients could withdraw a maximum of $5,000. The report, which

A list of crypto exchanges, including global platforms, have not introduced new restrictions on Russian users after the EU’s most recent sanctions round, Russian crypto media reported. The latest European penalties target an array of crypto-related services to increase pressure on Russia amid an escalating conflict in Ukraine. Major Exchanges Continue to Work in Russia Following EU’s Ban on Crypto Services The European Union adopted a wide range of sanctions last week, aiming to hit Russia’s government, economy, and trade harder. Along with other measures, the eighth package of EU restrictions banned the provision of all crypto wallet, account, or custody services to Russian residents and entities. While some companies from the industry have quickly reacted and already suspended operations with Russian accounts, a number of crypto exchanges have not conformed to the European requirements yet, the crypto page of leading Russian business news portal RBC revealed in a report. Among

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