Bitcoin News and Finance: What You Need to Know

Bloomberg Intelligence’s senior commodity strategist says bitcoin “may be entering an inexorable phase of its migration into the mainstream.” In addition, the cryptocurrency may also “be entering unstoppable maturation stage,” the strategist added, expecting the price of bitcoin to continue to rise over time. Bitcoin’s ‘Unstoppable Maturation Stage’ Bloomberg Intelligence’s senior commodity strategist Mike McGlone provided his outlook for bitcoin this week. Citing rising demand, increased adoption, and regulation, he tweeted Wednesday: Bitcoin may be entering an inexorable phase of its migration into the mainstream, and at a relatively discounted price. In another tweet, he noted the declining supply of bitcoin, adding: “Bitcoin’s definable diminishing supply is unprecedented on a global scale, and so prices should continue to rise over time unless something unlikely reverses demand and adoption trends, given the laws of supply and demand.” He also tweeted: Bitcoin may be ent...

The Rugby League World Cup 2021 is held in the UK between 15 October and 19 November 2022. It is an honor for CoinEx to be a sponsor of the prestigious RLWC event and to have the opportunity to inspire rugby fans to begin their cryptocurrency trading journeys. CoinEx & RLWC Exclusive Collaboration By sponsoring the Rugby League World Cup 2021 (RLWC 2021), CoinEx has become the exclusive cryptocurrency trading platform partner of the RLWC , demonstrating its willingness to engage and establish relationships with industries other than crypto. As the exchange strives to accomplish its vision, it also respects and supports the dedication, work and passion of players from non-crypto communities. Why CoinEx chose to sponsor RLWC? The brand concept of CoinEx is to break down the financial shackles that hold back the common man and to provide a platform that everyone can use. Additionally, CoinEx’s brand philosophy adheres to the principles of sportsmanship advocated by the RLWC. In ...

India has emerged as a leading global player in the Web3 market, a new report by Nasscom states. Web3 investments in the country grew 37 times from the start of 2020 to Q1 2022 and $1.1 trillion in Web3 economic value is projected to be added to India’s GDP by 2032. India Emerges a Leading Global Player in Web3 Market Nasscom published a report titled “The India Web3 Startup Landscape: An Emerging Technology Leadership Frontier” Wednesday. Established in 1988, Nasscom is a non-profit industry association for the technology sector in India. The organization has more than 3,000 members, representing 90% of the industry’s revenue, its website details. The report states: India has emerged as a leading global player in the Web3 market, with a competitive talent pool, high rates of adoption and products built for the world. The total number of Web3 startups in India as of the first half of this year was more than 450; they have raised more than $1.3 billion since 2020. The average ...

Bitcoin’s volatility has fallen below that of the Nasdaq and the S&P 500, according to crypto data provider Kaiko. Compared to equity markets, cryptocurrency markets have become less reactive to volatile macro events, including high inflation, an appreciating dollar, rising interest rates, ongoing war, and the energy crisis, the firm explained. ‘Bitcoin Volatility Is at Multi-Year Lows’ Bitcoin has become less volatile than both the Nasdaq and the S&P 500, according to cryptocurrency data provider Kaiko, CNBC reported. The crypto data firm explained Friday that BTC ’s 20-day rolling volatility has dropped below that of the two stock indexes for the first time since 2020. Clara Medalie, Kaiko’s head of research, told the news outlet: Bitcoin volatility is at multi-year lows while equity volatility is only at its lowest level since July. “Equity markets have certainly been volatile over the past few months due to high inflation, an appreciating dollar, rising interest rat...

Tesla and Spacex CEO Elon Musk expects a global recession to last until the spring of 2024. Musk added that his two companies are in good positions but many others are not. “Recessions do have a silver lining in that companies that shouldn’t exist stop existing,” the Tesla boss said. Elon Musk on Global Recession Tesla CEO Elon Musk shared his thoughts about a global recession in a Twitter thread Friday. The thread was started by Dogecoin co-creator Billy Markus who tweeted: “Coronavirus numbers are actually pretty low. I guess all we have to worry about now is the impending global recession and nuclear apocalypse.” Musk commented: “It sure would be nice to have one year without a horrible global event.” Another Twitter user chimed in, asking Musk: “How long do you think the recession will last?” The Tesla boss replied: “Just guessing, but probably until spring of ’24.” The same Twitter user followed up with the question: “How much worse do you think it will get? Like a little wo...

The Organization for Security and Co-operation in Europe (OSCE) has set out to teach law enforcement officers in Uzbekistan how to conduct crypto and dark web investigations. The regional body recently organized a training course for employees of the country’s security agencies in Tashkent. Uzbekistan Police and Security Agents Attend OSCE Course on Cryptocurrencies Representatives of Uzbekistan’s Prosecutor General’s Office, the Ministry of Internal Affairs, and the State Security Service have taken a training course on cryptocurrency and dark web investigations held by the OSCE between Oct. 17 and 21 in the capital Tashkent. The course was organized by the OSCE Transnational Threats Department in co-operation with the OSCE Project Co-ordinator in Uzbekistan and the Academy of the Prosecutor General’s Office, the intergovernmental security body said on its website. “Participants learned about the main concepts and key trends in the areas of internetworking, anonymity and encryp...

Bitcoin.com , a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has announced it is launching an NFT project tied to its rewards and utility token VERSE. The Verse NFT collection will be limited in supply by the number of people who purchase VERSE in the Verse token sale, which starts on November 1 at getverse.com . “ Bitcoin.com ’s VERSE token will act as a powerful gateway to DeFi for millions of people,” said Bitcoin.com CEO Dennis Jarvis. “NFTs have so far played a similar role, bringing a whole new user base to crypto while fostering the creation of powerful communities. Integrating NFTs to the Bitcoin.com Verse ecosystem is important therefore not only for increasing the ecosystem’s reach, but also for galvanizing a resilient core community.” Verse NFTs will have utility in the Bitcoin.com Verse ecosystem, such as providing access to exclusive products and services, discounts, and more....

Turkish authorities have reportedly seized $40 million in cryptocurrency and detained 46 people in an illegal betting investigation. “This operation came out of Turkish Cyprus and is linked to the murder of Halil Falyalı,” Turkish Minister of Interior Süleyman Soylu said. Turkey Confiscates $40 Million in Cryptocurrency The Office of the Ankara Chief Public Prosecutor’s Smuggling and Organized Crime Investigation Bureau issued an order detaining 46 suspects and confiscated $40 million in cryptocurrency Wednesday, the Daily Sabah reported. The detention and seizure were part of an illegal betting investigation in eight provinces: Ankara, Batman, Bingöl, Kayseri, Kırıkkale, Muş, Van, and Yozgat. The suspects allegedly mediated the transfer of illegally obtained funds to the crypto accounts of a criminal organization that includes Halil Falyalı and his wife. Betting and casino tycoon Halil Falyalı was shot dead on Feb. 8 in an armed assault near his house in Kyrenia, a city on the n...

Cryptocurrency exchange Binance will be able to offer services for digital assets in Cyprus as the platform is now registered with the country’s securities regulator. The news comes after the company obtained similar approvals in several other European jurisdictions. Global Exchange Binance to Comply With Cyprus Crypto Regulations Binance, the world’s leading crypto exchange in terms of daily trading volume, has received regulatory authorization in Cyprus. Its local entity, Binance Cyprus Limited, was granted Class 3 registration as a Crypto Asset Services Provider (CASP), the trading platform announced Thursday. The regulatory approval issued by the Cyprus Securities and Exchange Commission ( CYSEC ) will allow Binance to offer spot, custodian, staking, and card services, in compliance with the CYSEC’s anti-money laundering and counter-terrorist financing (AML/CTF) requirements. In a press release, the exchange noted that this is another milestone in its regulatory efforts in Eur...

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...

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, 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 ...

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, 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 ...

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 ...

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...

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 ...

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’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 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...

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...