Bitcoin News and Finance: What You Need to Know

Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority ( HKMA ), and the Hong Kong Applied Science and Technology Research Institute has produced a prototype of Hong Kong’s upcoming digital currency, the Bank for International Settlements ( BIS ) announced. Project Aurum is a full-stack, front-end and back-end, central bank digital currency ( CBDC ) system comprising a wholesale interbank system and a retail e-wallet system, the international financial institution explained in a press release this week. Participants in Aurum want to launch two different types of digital tokens. The first kind will be an interm...

PRESS RELEASE. INTERNET CITY, DUBAI, Oct. 24, 2022 – LBank Exchange, a global digital asset trading platform, will list VNX Gold (VNXAU) on October 25, 2022. For all users of LBank Exchange, the VNXAU/ USDT trading pair will be officially available for trading at 10:00 UTC on October 25, 2022. Utilizing the blockchain technology to tokenize the physical gold, VNX Gold (VNXAU) provides the reliability of gold with the flexibility of a crypto asset and enables users to buy and sell the purest gold from anywhere in the world. Its token VNXAU will be listed on LBank Exchange at 10:00 UTC on October 25, 2022, to further expand its global reach and help it achieve its vision. Introducing VNX Gold VNX Gold is a project under VNX that enables users to easily manage all of their gold transactions with digital tokens. Its tokenization of gold allows users to skip the hassle of visiting a vault or bank, and confidently invest from anywhere in the world. As the first registered EEA investm...

Bitcoin recorded another mining difficulty rise on Sunday, October 23, 2022, at block height 760,032 rising 3.44% higher. This means that not only is it 3.44% harder to find a bitcoin block subsidy, the network’s mining difficulty has also reached another all-time high (ATH) by tapping 36.84 trillion. Bitcoin’s Mining Difficulty Adjusts Upwards by 3.44%, Now at 36.84 Trillion This weekend, Bitcoin’s ( BTC ) mining difficulty jumped 3.44% higher than the height miners dealt with during the past two weeks or the last 2,016 blocks. The network’s difficulty has reached a lifetime high at 36.84 trillion, following the 3.44% shift on Sunday evening (ET). The rise on Sunday follows the 13.55% increase Bitcoin’s difficulty recorded on October 10, 2022, at block height 758,016. The 13.55% increase was 2022’s largest Bitcoin difficulty rise, and it took place as BTC ’s total hashrate reached an ATH on October 11, 2022, at block height 758,138. On October 11, the network’s hashrate reached...

When Satoshi Nakamoto created Bitcoin, the full node client came with a wallet often referred to as Bitcoin-Qt. Nakamoto’s simplified payment verification (SPV) concept was not available until two years later, after the former Bitcoin Core developer Mike Hearn published BitcoinJ in 2011. However, prior to the first SPV client or optimized lightweight bitcoin wallet, the first phone-to-phone bitcoin transaction occurred more than 11 years ago on December 7, 2010. Sending 0.42 Bitcoin From a Nokia N900 to Another Nokia N900 in 2010 Satoshi’s Bitcoin is nearing its 14-year anniversary, which will occur on January 3, 2023, and to date, the Bitcoin network has been functional 99.98777985271% of the time since its inception on January 3, 2009. During the first few years of Bitcoin’s life, the ecosystem had very little infrastructure compared to today’s plethora of crypto exchanges and bitcoin wallets . The protocol’s second Bitcoin client in the network’s history, Bitcoind was published...

Bitcoin.com yesterday announced that buyers in the VERSE token sale, which starts on November 1, will receive exclusive NFTs. Register now at getverse.com to increase your Schance of getting the allocation you want. We also announced that Evan Luza, the co-founder of Cool Cats, had joined Bitcoin.com to advise on the Verse NFT project. Cool Cats is a blue-chip NFT project with a host of charming characters and rich narrative, which lends to the IP’s broad appeal and positions the company as a global transmedia brand to watch. Today we bring you an interview with Evan, where we get his thoughts on Bitcoin.com , NFTs, Verse, and more. Bitcoin.com Director of Product Experience Alex Knight: Super excited to have you aboard Evan. Could you tell us in your own words about Cool Cats? Cool Cats co-founder Evan Luza: Excited to contribute! It’s been a full circle for me from helping with the Bitccoin.com rebrand and now coming back to advise with Verse. Cool Cats is a collection ...

According to the National Consumer Commission, about 4,000 South Africans who invested in a bitcoin mining equipment supplier, Obelisk, may have participated in a pyramid scheme. The commission said participants in the pyramid scheme may have lost as much as over $6 million. Obelisk Used Social Media Platforms to Lure Victims A South African consumer watchdog, the National Consumer Commission (NCC) recently announced that Obelisk — a purported bitcoin mining equipment supplier — is in fact a pyramid scheme which has swindled millions of dollars from unsuspecting investors. The watchdog reportedly made the announcement after it received complaints from investors who accuse Obelisk of defrauding them. According to a Businesstech report , the 4,000 individuals who participated in the investment scheme were convinced they were purchasing bitcoin mining equipment which could generate constant income for them. The machines cost between $18.75 and $24,850, the report added. In a statemen...

The party of the Nigerian presidential hopeful Asiwaju Bola Tinubu has promised to set up an advisory committee to review regulations that govern blockchain and virtual asset services if it wins in the upcoming elections. The All Progressives Congress also said it “will work with the Central Bank and the financial sector to carefully review and better optimise the exchange rate regime.” A ‘Business-Friendly Regulatory Framework’ In its recently unveiled manifesto , Nigerian presidential aspirant Asiwaju Bola Tinubu’s party — the All Progressives Congress (APC) — said it plans to “establish an advisory committee to review the existing regulatory environment governing blockchain technology and virtual asset services.” The APC, which is also the party of current Nigerian President Muhammadu Buhari, added that where necessary the committee will propose changes that bring about “a more efficient and business-friendly regulatory framework.” According to the APC’s 80-page manifesto, the T...

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 ...