Bitcoin News and Finance: What You Need to Know

A new study by Fidelity Digital Assets, a subsidiary of financial giant Fidelity Investments, shows that 58% of institutional investors surveyed invested in digital assets in the first half of this year and 74% plan to invest in the future. Fidelity’s Institutional Investor Digital Assets Study Fidelity Digital Assets, a subsidiary of financial giant Fidelity Investments, released its fourth annual “Institutional Investor Digital Assets Study” Thursday. The study features a blind survey conducted between Jan. 2 and June 24. A total of 1,052 institutional investors in the U.S. (410), Europe (359), and Asia (283) participated. According to the study: Nearly six in 10 (58%) institutional investors surveyed invested in digital assets in the first half of 2022, while 74% plan to invest in the future. In addition, 88% of institutional investors surveyed “find characteristics of digital assets appealing” and 51% “have a positive perception of digital assets.” More than 81% of institu...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that stock, bond, and real estate markets will crash as the Federal Reserve continues to raise interest rates. Noting that the Fed will pivot, he advises investors to buy bitcoin. Robert Kiyosaki Recommends Buying Bitcoin Before Fed Pivot The author of Rich Dad Poor Dad, Robert Kiyosaki, has advised investors to buy bitcoin before the Fed pivots, reiterating that the Federal Reserve’s interest rate hikes will destroy the U.S. economy. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted early Saturday morning that the prices of gold and silver are plunging as the Federal Reserve continues to raise interest rates. He warned that rate hikes will kill the U.S. economy, cautioning ...

One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company may apply for bankruptcy protection. The filing notes that Core Scientific will be unable to pay down debt payments due for Oct. and early Nov. 2022. SEC Filing Shakes Core Scientific Investors, CORZ Slides 97% in 12 Months Bitcoin miners are having issues after the price of bitcoin ( BTC ) has slid roughly 70% against the U.S. dollar since Nov. 10, 2021. Moreover, the network’s mining difficulty is currently at an all-time high, making it harder than ever before to find a block subsidy. At the end of September, Bitcoin.com News reported on Compute North filing for bankruptcy and how it led to Marathon Digital’s shares getting downgraded. Now Core Scientific (Nasdaq: CORZ ) seems to be leaning in the direction of filing for bankruptcy protection or some sort of restructuring process. T...

The European Commission has approved a proposal to accelerate the introduction of euro instant payments. The technology is there and Europeans should be able to send and receive money immediately, the executive body said, revealing its intentions to push the industry toward wide adoption. EU Moves to Make Instant Payments Widely Available Throughout Europe A legislative proposal to provide all citizens and businesses with access to instant payments in Europe’s single currency has been put forward by the European Commission. The payments should be secure and affordable for anyone with a bank account in the European Union and European Economic Area, officials insisted in an announcement on Wednesday. Instant payments are much faster than traditional transfers and increase convenience for consumers, save costs for companies, and will free up to €200 billion ($199B) currently locked in transit every day for consumption or investment, the executive power in Brussels argued. The Commissi...

Toda City, located north of Tokyo in Saitama prefecture, is using metaverse-based tools to fight the absenteeism problem that Japan faces. The city includes children in virtual spaces where they can explore virtual campuses and attend classes online, while preparing to eventually rejoin regular classes again. Toda City Is Battling Absenteeism With Metaverse Tools The metaverse is beginning to be harnessed as part of educational and therapeutic processes. Toda City, in Japan, is currently fighting the problem of school absenteeism by using metaverse-based tools. The children, who are said to present school attendance problems, are using a tool created by a nonprofit last year with the idea of letting children roam around in a virtual world. This digital world allows the children to explore a virtual campus and attend virtual classes, letting them prepare to begin attending regular classes again. At least this is what city officials hope, having also proposed to count these metavers...

Starting December 15, Nigerians will be using newly-designed 100, 200, 500 and 1,000-naira banknotes, the governor of the Central Bank of Nigeria (CBN) has said. The announcement has since resulted in the naira’s parallel market exchange rate versus the U.S. dollar dropping to a new low of N781:$1. Redesigning Currency a Global Best Practice The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, recently said his institution will begin circulating newly-designed naira banknotes on December 15. Emefiele claimed the injection of the new notes into Nigeria’s financial system is intended to help the CBN tackle fraud, inflation, and the insecurity challenge. According to Emefiele, who made the announcement at a recent press conference, the affected banknotes are 100, 200, 500 and 1,000-naira banknotes. In justifying the decision to redesign the banknotes, the CBN governor said doing so is a global best practice which must be carried out every five to eight years. Emefiele said Nig...

The number of bitcoin ATMs has been on the rise in Russia’s capital and the rest of the country, a press report revealed this week. There is demand for the service as it offers easy access to cryptocurrencies, although not at the best exchange rates and still amid regulatory uncertainty. More Crypto ATMs Installed in Russian Federation Despite Absence of Regulations With growing interest in cryptocurrencies, the number of devices offering automated teller services for digital assets is increasing, the Russian business daily Kommersant noted in article. Several dozen bitcoin ATMs (BATMs) are now operating across the country, despite the lack of clarity in terms of regulation. Moscow has taken the lead when it comes to new installations. Quoting one of the companies behind them, Rusbit, the newspaper revealed that 14 new ‘cryptomats’ have appeared in the capital city this year, bringing the total across the Russian Federation to 52 units. Given Russia’s territory and population, that...

Phil Spencer, CEO of gaming at Microsoft and head of Xbox, directed some criticism at the idea of the metaverse and how it is being executed. Spencer remarked that for him, the current metaverse is a “poorly built video game,” but also that the sector was still in its early stages and will surely evolve. Phil Spencer Blasts Today’s Metaverse While the still unclear concept of “the metaverse” has been harnessed by several companies that want to leverage the advantage of being pioneers in an industry, other important personalities have criticized the current sector. Phil Spencer, head of Xbox at Microsoft, blasted today’s metaverse technology during the WSJ Live Convention, noting that it was still unpolished. About today’s metaverse, Spencer stated: It’s a poorly built video game. Many interpreted this statement as an indirect jab at Meta, which has been criticized before due to the poor graphics its flagship metaverse app Horizon Worlds presented compared to modern video game...

PRESS RELEASE. LD Capital was established in 2016. Its main business involves direct investment and trading. It has established LD Capital X Ecological Fund, Web3 Alliance Incubation Accelerator, and Hero Group Secondary Hedging Asset Management. In the future, LD Capital’s investment in the field of Web3 will mainly focus on the Ethereum ecosystem, new public chains, GameFi ecosystems, DeFi ecosystems, etc. LD Capital’s investment philosophy is to grow together with industry pioneers, and to support Web3 entrepreneurs from multiple dimensions such as macro trends, strategic consulting, market branding, and industry relationships. It is the first investor in projects including 50 top industry titles. Regarding the prediction of future industry development, Jack Yi said that the price of Ethereum in the first two bull and bear cycles has grown dozens of times, and the price will continue to grow dozens of times in the next bull market. At the same time, we will focus on investing ...

After authorities in Egypt announced the adoption of a more flexible exchange rate regime, the pound exchange rate versus the U.S dollar plunged to 23.09:1, a new low for the currency. Cairo’s apparent devaluation of the Egyptian pound met a key condition set by the International Monetary Fund (IMF) before it eventually approved a $3 billion bailout package for Egypt. The IMF’s Key Condition A report has said that the official exchange rate of the Egyptian pound versus the U.S dollar plunged by 15% to 23.09 per dollar after the central bank announced the adoption of a more flexible exchange rate regime. Cairo’s apparent devaluation of the currency came as news broke that Egypt had reached an agreement with the International Monetary Fund (IMF) which will see it receive a $3 billion financial bailout. Before the pound’s latest slip, the currency had traded at just under 20 units per dollar. Some banks in Egypt, as well as the IMF, argued that the exchange rate, which was last adjust...

According to a study jointly published by KPMG China and Aspen Digital, about 58% of Singapore and Hong Kong’s family offices and high-net-worth individuals have invested in digital assets. Reports suggest the info shows the crypto market downturn has not diminished the super-rich’s interest in digital assets, and is unlikely to dissuade them from increasing their holdings of these assets. Singapore and Hong Kong’s Super-Rich Increasingly Interested in NFTs Nearly 60% of family offices and high-net-worth individuals (HNWI) from Hong Kong and Singapore have invested in digital assets, while 34% are planning to do the same, a new study has found. Besides holding BTC and ETH , the study found the two regions’ super-rich have also shown increased interest in non-fungible tokens (NFTs) and decentralized finance (defi) products. Commenting on the study’s findings, jointly published by KPMG China and Aspen Digital, the latter firm’s CEO Yang He said: NFTs have seen an explosion in inte...

Costa Rica could be one of the next countries to adopt bitcoin as a regulated payment method. This week, Congresswoman Johana Obando introduced a bill to allow bitcoin and other cryptocurrencies to serve as a form of payment. The bill also proposes that traditional banking institutions be able to serve as crypto exchanges, including custody and wallet services for their customers. Costa Rica to Regulate Cryptocurrency Costa Rica could be on the path to integrating bitcoin as part of its economy. This week, congresswoman Johana Obando introduced a bill that seeks to approve bitcoin and cryptocurrencies as a regulated payment method in the country, as a means of modernizing the economy. The bill, number 23,415, also includes the definition of bitcoin and other cryptocurrencies as virtual private currency and protects the rights of citizens to possess such assets. One of the objectives behind this bill is to offer clarity and protection to the people and companies that investing in c...

A study published by financial giant Charles Schwab shows that cryptocurrency is a top method for retirement savings. “Gen Z and millennial workers are more likely to also invest in cryptocurrency, real estate, annuities, and small businesses, unlike older generations.” Crypto Investments in 401(k) Accounts Financial giant Charles Schwab published a report titled “401(k) Participant Study – Gen Z/Millennial Focus” Tuesday. The report features the results of an annual online survey of U.S. 401(k) participants conducted by Logica Research for Schwab Retirement Plan Services Inc. A total of 1,000 401(k) plan participants aged between 21 and 70, who are actively employed by companies with at least 25 employees, completed the survey. The report details: While the 401(k) remains the top retirement savings vehicle for today’s workers overall, Gen Z and millennial workers are more likely to also invest in cryptocurrency, real estate, annuities, and small businesses, unlike older generati...

The government of Moldova has decided to suspend crypto mining activities in the country as it’s facing a major energy crisis. The move is part of emergency measures to reduce power consumption with energy supplies dwindling due to the escalating conflict in neighboring Ukraine. Authorities in Moldova Prohibit Bitcoin Minting and Mining Hardware Imports to Save Power Cryptocurrency mining in Moldova has been targeted amid a deepening energy crisis as the winter approaches. The country’s government took steps this week to limit electricity consumption, including imposing a complete ban on the extraction of digital coins. The prohibition comes after Moldovan President Maia Sandu urged ministers to introduce restrictions to save power during a meeting of the Eastern European nation’s Security Council. Crypto miners are among the first victims of the cuts, despite their industry not being a significant consumer. Deputy Prime Minister Andrei Spînu took to Telegram earlier to warn abou...

Oasys, a Web3, EVM-compatible, gamefi-focused blockchain project, launched the first phase of its mainnet on October 25th. The company, which has gathered support from AAA gaming companies such as Sega, Ubisoft, and Bandai Namco, will start validating blocks from all nodes in preparation for its definitive activation slated to happen on November 8th. Oasys Launches Mainnet Operations Oasys, a blockchain project that aims to serve gaming companies by offering fast transactions with zero fees, has taken its first step towards being fully operational. The company recently announced that it has launched the first phase of the activation of its mainnet, with validators in the network already talking to nodes and testing the main functions of the chain. The validator set of the chain is composed of 21 companies, including AAA names like Sega, Bandai Namco, Square Enix, and Ubisoft. The full mainnet launch is predicted to happen on November 8th, when the chain will begin integrating the e...

PRESS RELEASE. Leading global cryptocurrency exchange, Bitget announces that it has entered into a partnership with Lionel Andrés Messi , the iconic Argentine footballer and winner of a record-breaking seven Ballon d’Or awards. The announcement kicks off the engagement between Bitget and Messi and signals the meeting of sports and crypto, a promise of lasting efforts to benefit two worlds Lionel Andrés Messi, also known as Leo Messi, is one of the most popular and widely recognised sports stars and a recipient of six European Golden Shoes. In November, Messi will be joining the Argentinian national team as its captain for his 5th World Cup, hosted by Qatar this year. Bitget, established in 2018, is a leading cryptocurrency exchange with innovative products and social trading services as its key features. Its flagship product of social trading, One-Click Copy Trade, has amassed over 55,000 professional traders, with around 1.1 million followers, reflecting Bitget’s long-term effo...

Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares to Tighten Cryptocurrency Regulations, Limit Public Access to Digital Assets The Monetary Authority of Singapore (MAS) has put forward draft regulations that aim to restrict crypto trading for retail investors with the stated goal of reducing risks for consumers associated with decentralized digital currencies, while boosting the development of stablecoins. The city-state’s central bank believes the latter are credible as a medium of exchange. The proposed measures have been detailed in two consultation papers published by the authority, with which it seeks feedback from industry participants. The plan is to introduce the new rules as guidelines before eventually incorporating the...

On October 25, Nigeria commemorated the first anniversary of the Central Bank of Nigeria’s e-naira, even as more residents continue to snub the digital currency. In a move aimed at boosting the use of the CBDC, the central bank is offering a 5% discount to motorized rickshaw drivers and passengers that use the e-naira. Kingsley Obiora, a deputy governor at the CBN, suggested that the digital currency needs “a little push from the government” if it is to be widely embraced. E-Naira Rollout at Phase 2 As Nigeria commemorated the e-naira’s first anniversary on October 25, critics have claimed that the average Nigerian has still not embraced Africa’s first central bank digital currency (CBDC). They point to the e-naira wallet’s relatively low number of downloads as well as the still-growing use of cryptocurrencies when remitting funds or making cross-border payments. In August, Bitcoin.com News reported that between January and June this year, peer-to-peer bitcoin traded volumes on Pa...

Crypto firm Blockchain.com has announced the launch of a new crypto-centric pre-paid Visa card and so far, 50,000 users have registered for the waitlist signup. In addition to launching its crypto Visa card powered by the card issuing platform Marqeta, Blockchain.com Visa users will earn 1% back in crypto whenever they spend funds using the card. Blockchain.com Introduces Crypto Visa Card Blockchain.com is joining the likes of Crypto.com, Ripio, Bitso, Coinbase, Bitpay, Blockfi, and FTX by announcing the launch of a new crypto-loadable pre-paid Visa card. According to the announcement on Wednesday, Blockchain.com Visa users can “spend from a crypto balance fee-free and offer the opportunity to earn crypto rewards.” Moreover, 50,000 registered users have already signed up for the company’s new crypto payments card. “As one of the crypto industry’s oldest and most trusted platforms, we’re excited to roll out the natural next step to make crypto easy to use in the real world and acces...

Federal Reserve Governor Christopher Waller says he is not a big fan of the Fed issuing a central bank digital currency (CBDC). “It’s just a checking account at the Fed,” said the governor. Federal Reserve Chairman Jerome Powell recently said that the central bank has not decided whether to issue a digital dollar. Fed Governor Skeptical of CBDCs Federal Reserve Governor Christopher Waller shared his view on central bank digital currencies (CBDCs) Tuesday during the Money 20/20 conference in Las Vegas. Commenting on the Federal Reserve issuing a digital dollar, he was quoted by Bloomberg as saying: It’s just a checking account at the Fed. I’m not a big fan of it, but I’m open to having someone convince me that this is something that’s really valuable. Some people have argued that a Fed-backed digital currency would help ensure the U.S. dollar’s dominance, noting that many countries, including China, are already working on launching their own CBDCs. The People’s Bank of China (PB...

Bitcoin rose to its highest level in six weeks on Wednesday, as the U.S. Dollar continued to weaken versus several G7 currencies. The latest decline in USD comes as consumer confidence in the United States fell by more than expected in October. Ethereum was also trading at a multi-week high in today’s session Bitcoin Bitcoin ( BTC ) was back above $20,000 during today’s session, as crypto bulls pushed prices to a multi-week high while the U.S. dollar lost strength. Following a low of $19,278.74 yesterday, BTC /USD raced to an intraday high of $20,702.72 on Wednesday. Today’s move sees the world’s largest cryptocurrency hit its strongest point since September 13, when prices were close to $23,000. Looking at the chart, Wednesday’s surge comes as bullish pressure was finally able to intensify, moving beyond the resistance of $19,600 in the process. The 14-day relative strength index (RSI) also moved higher, breaking out of a ceiling of 53.00, on its way to a current reading of 63....

A recent poll completed by the Public Opinion University Institute, part of the Simeon Canas Centroamerican University, has found that El Salvador is still not attracted by the idea of bitcoin as legal tender. The poll results indicate that almost two-thirds of the population has a negative impression of bitcoin, with only a quarter of Salvadorans having used the cryptocurrency. El Salvador Still Cold on Bitcoin Adoption While El Salvador made bitcoin legal tender last year, being the first country in the world to do so, Salvadorans are still not completely sold on the idea of introducing bitcoin as part of their economies. A recent poll presented by the Public Opinion University Institute, part of the Jose Simeon Canas Centroamerican University, has found that most of the citizens of the country reject bitcoin as part of the politics of the government of El Salvador’s president, Nayib Bukele. The poll interviewed more than 1,260 individuals personally, having direct contact with ...