Bitcoin News and Finance Bitcoin News and Finance: What You Need to Know Skip to main content

Posts

Tether and Smartpay to Offer USDT at More Than 24,000 ATMs in Brazil

Tether, the company behind the issuance of usdt, the biggest dollar-pegged stablecoin in the cryptocurrency market, has announced its stablecoin will be available at more than 24,000 ATMs in Brazil. Smartpay, a cryptocurrency systems provider, integrated its technology stack with Tecban, an ATM provider in Brazil, to make this possible. Tether and Smartpay to Bring USDT to the Masses in Brazil Stablecoins have been of pivotal importance to some countries in Latam, due to their unique economic circumstances. Tether, the biggest stablecoin issuer, is now bringing USDT , its dollar-pegged stablecoin, to the masses in Brazil. The company announced that its token will be available at more than 24,000 ATMs on a national level thanks to the integration that Smartpay, a third-party crypto tech company, has developed with Tecban, an ATM provider. These ATMs will serve customers in 1,000 cities in Brazil. Now, users of Smartpay services will be able to send and receive USDT using these wid...

Relictum Pro Thrives in Bear Market with Its Token Price Surging 4 Times

PRESS RELEASE. After being listed on LBank Exchange on September 29, 2022, Genesis Token (GTN), the native token of Relictum Pro, has been witnessed by investors with an impressive 4 times price surging, indicating the great potential of the project has been further recognized by global crypto community. The global expansion of Relictum Pro continues with its recent participation in the GITEX GLOBAL exhibition, where famous brands such as Microsoft, AMD, Huawei, Lenovo also showcased their products and development. Being the one of the brightest representatives of decentralized technologies, Relictum Pro was represented at the event by its CEO, Alexander Strigin, along with other well-known companies in the blockchain market. Currently focusing on Asian countries and regions, Relictum Pro has been pushing its marketing with various advertisements, including promotional billboards in areas such as Jalan Imbi, Berjaya Times Square, Kuala Lumpur, Malaysia. By actively participating i...

Interpol Launches Police-Focused Metaverse

Interpol, the International Criminal Police Organization, has announced the launch of the supposed first police metaverse experience. This new virtual world, which allows users to visit the offices of the institution in Lyon, aims to advance the understanding of metaverse-related crimes and opens the possibility for users to receive training in different areas. Interpol Launches Metaverse World The metaverse is being harnessed for more than just recreational and commercial objectives. Interpol, the International Criminal Police Organization, has announced the launch of what is claimed to be the first police-focused metaverse experience in its 90th General Assembly in New Delhi. The objective of this experience is to help in the enforcement of law worldwide, allowing Interpol members to experience the metaverse in different forms. This, according to Madan Oberoi, executive director of technology and innovation at Interpol, is key for the future of policing in virtual worlds. Oberoi ...

Eunoia – a Knowledge Community DAO Platform for Professionals

PRESS RELEASE. DemandCircle is delighted to announce the official launch of Eunoia, Web 3.0’s very own decentralized business knowledge platform. With the goal of bringing industry professionals together in expertise-centric communities, Eunoia incentivises meaningful participation with rewards in the platform’s native token. Eunoia’s end goal is to become a DAO (decentralized autonomous organization) whereby the community members can guide the evolution of the platform towards a native web3.0 knowledge sharing community for business professionals. Web 3.0 and the Eunoia’s Vision Inclusion, open participation, and permissionless development form the foundations of decentralized applications and Eunoia is a step towards bringing those values to the business knowledge domain. Sharing information is an essential part of the human experience, and technology has facilitated our ability to rapidly increase the rate at which we can discuss and implement ideas. However, encouraging consis...

Celestia Raises $55 Million to Solve Blockchain Modularity Challenge

Celestia, a project that aims to solve the perceived centralization problem in current monolithic blockchains, has announced it has raised $55 million in its latest funding round. The round, which was led by Bain Capital Crypto and Polychain Capital, also saw the participation of Delphi Digital, Protocol Labs, Figment, Maven 11, and Spartan Group, among others. Celestia Raises $55 Million to Make Blockchain Deployment Easy Celestia, a project that aims to tackle the problem of blockchain deployment complexity, has announced it raised $55 million as part of combined Series A and Series B funding rounds. The company announced that the funding round was co-led by Bain Capital Crypto and Polychain Capital, with the participation of Placeholder, Galaxy, Delphi Digital, Blockchain Capital, NFX, Protocol Labs, Figment, Maven 11, Spartan Group, FTX Ventures, and Jump Crypto , among others. The combined funding round was oversubscribed four times, and according to reports, gives Celestia a ...

Report: Bank of America Economist Predicts 20% Devaluation of the Nigerian Currency in 2023

A Bank of America economist, Tatonga Rusike, has said the Nigerian currency is overvalued by as much as 20% and will likely be devalued in 2030. The remarks by the economist came just days after the currency’s exchange rate reportedly touched a new low of just under 750 naira for every U.S. dollar on the parallel market. Currency Fair Value Analysis According to a Bank of America economist, Tatonga Rusike, the Nigerian currency, which has officially stayed below the 450:1 mark since May 2021, is overvalued by 20% and he expects it to be devalued by as much in 2023. In his October 18 note to clients, Rusike reportedly said the bank came to this conclusion after examining indicators like the central bank’s real effective exchange rate and the widely used parallel market exchange rate. In addition to using the two exchange rates, the bank also used its own currency fair value analysis to determine the extent of the naira’s overvaluation. Meanwhile, Rusike’s devaluation comments came ...

Japan to Relax Cryptocurrency Listing Rules

The Japan Virtual and Crypto Assets Exchange Association (JVCEA) plans to allow crypto trading platforms to list coins without going through a lengthy screening process. “We hope the latest measure will help revitalize Japan’s crypto assets market,” said the vice chairman of the association. Relaxing Listing Rules for Cryptocurrencies The Japan Virtual and Crypto Assets Exchange Association (JVCEA) is planning to loosen crypto listing rules to make it easier for trading platforms to list cryptocurrencies, Bloomberg reported Wednesday, citing a document it has seen. The association plans to allow trading platforms to list crypto tokens without going through a lengthy screening process unless the tokens are new to Japan’s market. The relaxed rules could take effect as early as December, the publication conveyed, adding that the documents outlining the changes were recently distributed to member firms. JVCEA Vice Chairman Genki Oda, who is also the CEO of cryptocurrency exchange Bitp...

Hong Kong Mulls Letting Retail Investors Trade Crypto, Removing ‘Professional Investor-Only Requirement’

The director of licensing and head of the fintech unit of Hong Kong’s Securities and Futures Commission (SFC) has confirmed that the regulator is considering allowing retail investors to invest directly in crypto assets. “We’ve had four years of experience in regulating this industry … We think that this may be actually a good time to really think carefully about whether we will continue with this professional investor-only requirement.” SFC Director on Crypto Regulation in Hong Kong Elizabeth Wong, director of licensing and head of the fintech unit of Hong Kong’s Securities and Futures Commission (SFC), talked about cryptocurrency regulation during a panel discussion held by Invest HK on Monday, South China Morning Post reported. She explained that the regulatory environment for crypto in Hong Kong is different from in mainland China. Emphasizing that Hong Kong can introduce its own bill to regulate cryptocurrencies, she stressed that it “shows just how separate Hong Kong is from ...

Onecoin Cryptoqueen Associates Appear in German Court

Three people are facing trial in Germany for their roles in one of the crypto world’s most infamous scams, Onecoin. The defendants are accused of fraud, among other crimes, allegedly committed as they assisted the pyramid scheme’s mastermind, ‘Cryptoqueen’ Ruja Ignatova, who is still on the run. Lawyer and Couple Face Criminal Allegations in Germany Over Roles in Onecoin Scam A husband and wife as well as an attorney from Munich are now among the first people in Europe to face criminal charges over their participation in the Onecoin crypto scam. On Tuesday, they appeared in a German court, Bloomberg reported. The three have been accused of money laundering, fraud, and banking crimes linked to the multibillion-dollar fraud scheme. The pyramid was founded and managed by Bulgarian-born German national Ruja Ignatova, dubbed the ‘Cryptoqueen.’ The lawyer allegedly transferred €20 million ($19.7 million) to the Cayman Islands on behalf of Ignatova for the purchase of two London apartmen...

Tesla Still Holding $218M in Bitcoin — Elon Musk Expects Company to Be Worth More Than Apple and Saudi Aramco Combined

Tesla’s third-quarter balance sheet shows that the electric car company is still holding $218 million in bitcoin. CEO Elon Musk claims that Tesla could be worth more than Apple and Saudi Aramco combined. The executive is also “excited” about acquiring Twitter. Tesla Still Holds $218 Million in Bitcoin Tesla Inc. (Nasdaq: TSLA) released its third-quarter earnings results Wednesday. The company’s Q3 financial statements show that Tesla did not sell any bitcoin during the quarter. Its balance sheet still shows $218 million in digital assets, unchanged from the second quarter. At the time of writing, the price of bitcoin is $19,188 based on data from Bitcoin.com Markets. Tesla bought $1.5 billion worth of the cryptocurrency in early 2021 and has not purchased any more since. The company sold about 75% of its BTC holdings in the second quarter of this year. In the third quarter, Tesla’s revenue rose to $21.5 billion, compared with analysts’ projections of $22.1 billion. Profit exclu...

Bitcoin, Ethereum Technical Analysis: BTC Back Above $19,000 as Volatility in Crypto Markets Intensifies

Bitcoin snapped a two-day losing streak on Thursday, as prices of the cryptocurrency rebounded at a key point of support. The current price uncertainty in markets comes as global inflation continues to hover close to historical highs. Ethereum was also back in the green in today’s session. Bitcoin Following two days of consecutive declines, bitcoin ( BTC ) rose higher in today’s session, moving away from its recent floor below $19,000. On Wednesday, the world’s largest cryptocurrency fell to an intraday low of $18,971.46, however the token rebounded earlier today. So far in Thursday’s session, BTC /USD has hit a peak of $19,280.68 as the bulls rejected a breakout below a key floor of $18,900. Looking at the chart, the relative strength index (RSI) of 14-days also moved closer to its own floor of 43.70, however the index has since moved away from this point. As of writing, the index is tracking at 45.68, with the next visible point of support being the 48.00 mark. Should this le...

German Crypto Bank Nuri Asks Clients to Withdraw Funds as It Goes Out of Business

Digital asset platform Nuri has told customers to withdraw their funds in the next two months, after taking a hit from the crypto winter. Formerly known as Bitwala, the Berlin-headquartered cryptocurrency bank filed for insolvency earlier this year and failed to find a buyer. Nuri to Maintain Trading Until Last Day of November, Prepares to Close Down Crypto bank and exchange Nuri has instructed users to withdraw their funds by Dec. 18, 2022 at the latest. The Germany-based company will then terminate and liquidate its digital asset business, according to a letter from its CEO Kristina Walcker-Mayer, who assured: Customers have access and will be able to withdraw all funds until the aforementioned date. All assets in your Nuri account are safe and unaffected by Nuri’s insolvency. The chief executive pointed out that the platform will continue to support trading until Nov. 30, 2022. The announcement comes after Nuri filed for temporary insolvency in August. Reports at the time no...

South African Financial Sector Regulator Declares Crypto Assets a Financial Product

According to a general notice published in a government gazette, crypto assets are now treated as financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial products means crypto asset service providers (CASP), such as exchanges, must apply for a license. Declaration Applicable to Any Digital Representation of Value Not Issued by Central Bank According to a recently published South African government gazette, crypto assets have been declared as financial products under the country’s Financial Advisory and Intermediary Services (FAIS) Act. Signed by the Financial Sector Conduct Authority (FSCA) commissioner, Unathi Kamlana, the declaration became effective on October 19. This is an historic moment for South Africa: Today the Financial Sector Conduct Authority (FSCA) declared a crypto asset as a financial product under the FAIS Act. This Declaration was published in the Government Gazette as well a...

Retail Giant Walmart Outlines Crypto Strategy — Executive Foresees a Lot of Disruption in Payment Options

Walmart’s global chief technology officer has revealed crypto’s role in the retail giant’s future. “Crypto will become an important part of how customers transact,” the executive said. “We want to make sure that we make it as friction free for customers to be able to transact.” Executive Discusses Crypto in Walmart’s Future Walmart Global Chief Technology Officer and Chief Development Officer Suresh Kumar discussed cryptocurrency at Yahoo Finance’s All Markets Summit Tuesday. Replying to a question about the role of crypto in Walmart’s future, Kumar said: “I think that there are three major areas of disruption. Crypto falls in sort of the middle of it. I have talked before about the way in which customers are getting inspired and discovering products. That is changing.” He continued: “Part of that is going to happen in the metaverse. Part of that is going to happen on live streams, inside your social media app. So whether it is physical goods or virtual goods, they [crypto] play a...

Goldman Sachs CEO Sees Good Chance of Recession — Advises Investors to Be Cautious, Prepare for More Difficult Environment

The CEO of global investment bank Goldman Sachs, David Solomon, sees a good chance of a U.S. recession. He stressed that the “environment heading into 2023 is one that you’ve got to be cautious and prepared for.” Goldman Sachs CEO Warns About U.S. Recession, Advises Investors to Be Cautious Goldman Sachs CEO David Solomon warned about where the U.S. economy is headed in an interview with CNBC Tuesday. He said: I think it’s a time to be cautious, and I think that if you’re running a risk-based business, it’s a time to think more cautiously about your risk box, your risk appetite. “I think you have to expect that there’s more volatility on the horizon now,” the Goldman CEO continued. “That doesn’t mean for sure that we have a really difficult economic scenario. But on the distribution of outcomes, there’s a good chance that we have a recession in the United States.” However, the executive noted: “The fundamentals really don’t change. The leadership does move to different places, ...

While Everyone Is Trying to Build a Super App Blockbank Has Done It

PRESS RELEASE. “Creating a neobanking super-app for crypto and digital assets has been blockbank’s ultimate vision since its inception. Throughout this past year, we have listened to our growing user base, acquired global licenses, and built one of the most technologically advanced pieces of software in this space,” said Anastasija Plotnikova, the CEO of blockbank. Blockbank is available on the Apple and Google Play stores for download and provides the end user with a portal into all things banking, digital finance, and cryptocurrency. Having multiple back-ends with one front-end establishes a multi-faceted user-centric experience allowing each user to pick and choose how they want to participate not only in the application but with their own personal finances. The app aims to give its users an unparalleled set of options. First, where they are fully KYC’d, and the assets are custodied within the application, users can stake, earn, and trade. Second, where users can be fully de...

Finder’s Experts Predict Bitcoin Will End the Year at $21K, Panel Expects BTC to Hit $79K by 2025

Following the recent xrp and ether prediction forecasts by crypto and fintech experts chosen by the product comparison web portal, finder.com, Finder’s latest handful of specialists have produced a predictions report for bitcoin. The group of 55 Finder’s experts think bitcoin will increase in value by more than 10% by the year’s end, and by 2025, the participants expect bitcoin to be around $79K. Finder’s Panelists Share Bitcoin Forecasts Finder’s experts have convened again and this time the group tallied up the predictions for the leading crypto asset by market capitalization bitcoin ( BTC ). Currently, 77% of the panelists still think BTC is a store of value (SoV) despite the 70% decline from the all-time high. 56% of Finder’s panelists think BTC is currently underpriced and most expect BTC to climb to $21,344 by December 2022. “Bitcoin is suffering due to external macro conditions,” Coinsmart Financial CEO Justin Hartzman told the finder.com researchers. Hartzman assumes BT...

BTC Whale Transfers $940 Million Out of Coinbase — 3 Batches of ‘Sleeping Bitcoins’ From 2011 Move

On Tuesday, October 18, researchers from the crypto analysis platform Cryptoquant identified an outflow of 48,000 bitcoin coming from the trading platform Coinbase Pro. According to the researcher’s summary of the situation, a large portion of the funds were old coins. Whale Transfers 48,000 Bitcoin Amid Coiled Market While bitcoin (BTC) has been trading under the $20K region and trading sideways, observers have witnessed a number of old coins move onchain. The onchain movement comes at a time when market volatility is expected. For instance, the latest Glassnode Insights report called “A Coiled Spring,” expects some bitcoin price fluctuations to occur in the near future. “The bitcoin market is primed for volatility, with both realized and options implied volatility falling to historical lows,” Glassnode wrote on October 17. “Futures open interest has hit new all-time-highs, despite liquidations being at all-time-lows. Volatility is likely on the horizon, and Bitcoin prices rare...

Bitcoin, Ethereum Technical Analysis: ETH Lower, as USD Gains Following Strong Q3 Earnings

Ethereum was back below the $1,300 level on Wednesday, as the U.S. dollar rose following better than expected quarterly earnings. So far this earnings season, Netflix, Bank of America, and others have outperformed expectations, highlighting what some view as the resilience of the U.S. economy, despite the global slowdown. Bitcoin was also back in the red. Bitcoin Bitcoin ( BTC ) was trading lower on Wednesday, as prices continued to decline following a failed breakout of a resistance at $19,550. Following a high of $19,655.75 on Tuesday, which saw BTC /USD move past the aforementioned ceiling, prices slipped to a low of $19,144.77 earlier today. Wednesday’s drop sees the token move closer to a breakout below $19,000, with bears likely targeting a floor of $18,900. Bearish sentiment has largely been present during what many are calling “red October,” with BTC trading below $20,000 for the majority of the month thus far. Looking at the chart, the 10-day (red) moving average has e...

Eswatini Central Bank Partners With German Firm to Explore CBDC

Eswatini recently became the latest African country to jump on the central bank digital currency (CBDC) bandwagon after its central bank selected Giesecke Devrient, a Germany-based technology firm, as its partner. An agreement signed by both parties aims to enable them to deepen their “understanding of the practicalities of implementing a CBDC in Eswatini.” Retail CBDC Presents Strongest Opportunity for Adoption The Southern African nation of Eswatini (formerly Swaziland) recently became the latest African country to signal its intention to issue a digital currency, after it was revealed that the Central Bank of Eswatini (CBE) has appointed a Germany-based firm called Giesecke Devrient as its technology partner. According to a statement issued by the technology firm, an agreement to this effect was signed at the recent annual meeting of the International Monetary Fund (IMF) and the World Bank Group. The country’s selection of the German firm comes some two years after the latter’...
Blogarama - Blog Directory