Bitcoin News and Finance: What You Need to Know

Elon Musk has started rolling out a $7.99-a-month Twitter Blue subscription service. U.S. President Joe Biden, however, is concerned that the billionaire has bought a social media platform “that spews lies all across the world.” Stating that there are “no editors anymore in America,” Biden stressed: “How do we expect kids to be able to understand what is at stake?” Twitter Rolls Out $7.99/Month Blue Subscription Tesla CEO and Twitter boss Elon Musk has begun rolling out the Twitter Blue subscription service. Users on the social media platform began noticing Friday that they could now sign up for the Twitter Blue verification for $7.99 a month. “Starting today, we’re adding great new features to Twitter Blue,” a notice on Twitter reads. The service is currently available in the U.S., Canada, Australia, New Zealand, and the U.K. The notice lists three features that are “coming soon” for Twitter Blue subscribers. Firstly, the company explained that Blue subscribers will only see “hal...

According to the crypto firm Circle Internet Financial, the company is “deepening” its partnership with the world’s largest asset manager Blackrock. Circle disclosed that it has started to transfer USDC reserves into a Blackrock-managed fund that’s registered with the U.S. Securities and Exchange Commission (SEC). Circle Deepens Relationship With the World’s Largest Asset Manager Blackrock In mid-April 2022, Circle detailed that the company entered an investment agreement with Blackrock Inc., Fin Capital, Fidelity Management and Research, and Marshall Wace LLP. The investment was a $400 million funding round and during the announcement, Blackrock explained how Circle and the New York-based multi-national investment company would expand the two companies’ existing relationship. It was also revealed that Blackrock would be used by Circle for “managing significant assets for the reserves that back USDC.” Six months later, Circle disclosed on Nov. 3, 2022, that the company would be de...

On Nov. 2, 2022, the digital asset custody business and financial services provider Bitgo introduced a wrapped version of the meme coin asset dogecoin built on top of the Ethereum blockchain. The company detailed the wrapped dogecoin initiative, the Wdoge DAO, is through a partnership between the Dogecoin Foundation, Bluepepper, and Mydoge wallet. Bitgo Introduces Wrapped Dogecoin Initiative Almost four years ago in January 2019, Bitgo launched the popular ERC20 token wrapped bitcoin (WBTC) . WBTC is essentially a wrapped version of bitcoin built with the ERC20 standard on top of Ethereum and every WBTC is backed by bitcoin ( BTC ), at a 1:1 ratio. Today, statistics show there are 245,379 WBTC in circulation, worth roughly $5.2 billion using today’s exchange rates. On Wednesday, Bitgo revealed the company has built a similar initiative for the popular meme coin asset dogecoin (DOGE). Wrapped dogecoin (WDOGE) tokens are also backed by a 1:1 ratio with dogecoin (DOGE). The WDOGE t...

In this week’s hottest stories from Bitcoin.com News, veteran trader Peter Brandt says the bear market that began for dogecoin back in May is over, Bitcoin.com-backed boxer Gilberto ‘Zurdo de Oro’ (Golden Southpaw) Ramírez steps up for a shot at the World Boxing Association light heavyweight title, the United States Federal Reserve’s key inflation gauge increases in September, and Robert Kiyosaki warns of real estate markets crashing and advises buying bitcoin before the ‘Fed pivot.’ All this and more, just below. Veteran Trader Peter Brandt Says Dogecoin Bear Market Has Ended Veteran trader Peter Brandt says the dogecoin bear market that began in May last year has ended. His comment came after the price of dogecoin soared following Tesla CEO Elon Musk’s acquisition of the social media platform Twitter. Read More Fed’s Key Inflation Gauge Jumps 0.5% in September, America’s Rising Costs to ‘Punish’ Democrats The U.S. central bank’s key inflation gauge, the personal consumption e...

Members of the expanding blockchain sector of Vietnam have called on government and educational institutions to turn more attention to the deficit of talent. With the shortage of qualified personnel being a global challenge, they say the country needs to address the lack of training. Industry Players Highlight Growing Need for Blockchain Experts in Vietnam Vietnam is not the only nation in search of blockchain developers with the deficit seen as a common problem for countries like the United States, China and India, too. When it comes to the new technology, Vietnam is for the first time in the same situation as these tech hubs and it’s just as understaffed, business executives told local media. The scarcity of expertise is inevitable in both Vietnam and internationally, said Pham Van Huy, CEO of Moonlab, a company working on blockchain and metaverse projects. Quoted by the English-language daily Vietnam News, he elaborated: It is extremely difficult to recruit human resources spe...

Cryptocurrency exchange Bybit has no intention to introduce restrictions for Russian traders, despite a recent reminder by the Monetary Authority of Singapore (MAS) about the obligations of crypto providers in that respect. According to a crypto media report, the platform shared its position in correspondence with partners. Bybit Reportedly Vows to ‘Not Discriminate Against Crypto Users Based on Location and Passport’ Singapore-based crypto exchange Bybit will not restrict users from the Russian Federation, despite the city-state’s central bank reiterating this week that licensed coin trading platforms must comply with sanctions imposed over Moscow’s ongoing invasion of Ukraine. In response to numerous queries and publications alleging that Bybit will not be available in Russia due to the measures introduced by Singapore, the exchange pointed out that it is headquartered and registered in Dubai and emphasized: We have stated several times that we do not discriminate against cryp...

The U.S. Securities and Exchange Commission (SEC) has charged four people for their roles in a global cryptocurrency Ponzi scheme that duped more than 100,000 investors worldwide. The scheme raised more than $295 million in bitcoin. SEC Says ‘Trade Coin Club’ Is a Crypto Ponzi Scheme The U.S. Securities and Exchange Commission (SEC) announced charges against four people for their roles in a fraudulent crypto Ponzi scheme Friday. Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault were allegedly involved in Trade Coin Club, “a fraudulent crypto Ponzi scheme that raised more than 82,000 bitcoin, valued at $295 million at the time, from more than 100,000 investors worldwide,” the SEC described. Braga created and controlled Trade Coin Club, the regulator explained, adding that the multi-level marketing program promised investors a minimum return of 0.35% daily “from the trading activities of a purported crypto asset trading bot.” Noting that the schem...

Global investment bank Goldman Sachs has launched a new data service in collaboration with MSCI and Coin Metrics to help investors analyze crypto markets. The new system is “designed to provide a consistent, standardized way to help market participants view and analyze the digital assets ecosystem,” Goldman detailed. Goldman Sachs’ New Crypto Classification System Global investment bank Goldman Sachs announced Friday “the launch of Datonomy, a new classification system for the digital assets market,” in collaboration with global index provider MSCI and crypto data firm Coin Metrics. The announcement details: The new framework for digital assets classification is designed to provide investors, service providers, developers, and researchers a way to help monitor market trends, analyze portfolio risk and returns, and help build new products. “Delivered as a new data service, Datonomy classifies coins and tokens based on how they are used,” the investment bank explained, adding that...

The Bank of Ghana recently warned businesses quoting U.S. dollar prices that the practice is still prohibited and that the cedi remains Ghana’s sole legal tender. The bank said it is working with law enforcement to “clamp down on illegal foreign exchange operations.” In addition to naming and shaming businesses violating the law, a Ghanaian actress urged the central bank to stop Ghanaians from operating USD accounts. Cedi Ghana’s Sole Legal Tender As shortages of foreign exchange and currency depreciation continue to weigh on the Ghanaian economy, the country’s central bank has again warned businesses displaying prices in U.S. dollars that the cedi is the sole legal tender. Responding to Ghanaian actress Lydia Forson’s Nov. 2 tweet which questioned the practice of quoting prices in U.S. dollars for local real estate transactions, the Bank of Ghana (BOG) insisted that the practice is still outlawed. Dear @thebankofghana we need to know the dollar is the official currency for tran...

Software giant Microsoft has made a $14.8 million investment in Wemade, a Korea-based blockchain gaming services company that has recently launched its own stablecoin, named Wemix. The company was part of a $46 million investment round, that also saw the participation of two more companies: Shinhan Asset Management and Kiwoom Securities. Microsoft Backs Korea-Based Gaming Company Wemade Microsoft has participated in a $46 million investment round to back Korea-based blockchain gaming operator Wemade. The round, which involved Wemade selling convertible bonds, saw Microsoft purchase $14.8 million in these bonds. Two other companies also participated — Shinhan Asset Management and Kiwoom Securities — with bond purchases of $21.2 million and $10.5 million respectively, according to regulatory filings. Founded in 2000 and having operated more than 20 blockchain games, Wemade sees this development as a big success, more so in the troubling economic times that the cryptocurrency industr...

The Nigerian currency appeared to accelerate its decline versus the U.S. dollar after it slipped to a new low of 900 naira for every dollar. The currency has continued to depreciate even after the Economic and Financial Crimes Commission’s raid on suspected illegal foreign exchange dealers. Continuing U.S. Dollar Shortages Following the Oct. 27 announcement by the Central Bank of Nigeria (CBN) that intends to put into circulation newly designed naira banknotes, the local currency’s parallel market exchange rate versus the dollar has slipped by almost 20%. From an exchange rate of around N760:$1 at the time of the announcement, the naira had, by Nov. 2, dropped to a new all-time low of 900:1. As noted by several local media reports, the CBN’s decision to release the new banknotes as well as to demonetize the current 100, 200, 500, and 1,000-naira banknotes after Jan. 31, 2023, has sparked a rush to buy the greenback. According to one report , the shortage of the U.S. dollar on both...

Foundry Digital, a digital asset mining and a staking-focused subsidiary of Digital Asset Group, has announced the launch of a new bitcoin mining hardware training program. The training course, which is expected to commence on Nov. 7, is expected to help professionals and enthusiasts learn how to set up a miner as well as to identify and solve common hardware failures. ‘In-Person Classes’ to Be Conducted by Industry Players Foundry Digital, a subsidiary of Digital Asset Group (DCG), has announced the launch of a new training course for individuals seeking to further “their education in the areas of installation, maintenance and troubleshooting of bitcoin mining machines.” The three-day training program seeks to produce top technicians for what has been described as “the fast-growing mining industry.” According to Foundry Digital’s Nov. 3, 2022 press statement , the training program, which includes “in-person classes” conducted by players in the industry, will cover topics such as s...

Nigeria’s National Information Technology Development Agency recently said it has launched a blockchain training program and over 30,000 people are set to participate. The objective of the training course is to make the participants “early solution providers in the fourth industrial revolution.” Hastening Adoption of Blockchain The Nigerian government has said it plans to educate over 30,000 people about blockchain technology. The training, which will be conducted by the National Information Technology Development Agency (NITDA), is intended to hasten the adoption of the tech and make Nigeria a leading player in the blockchain industry. According to a report by Radio Nigeria, the announcement was made by the director-general of NITDA, Kashifu Inuwa, who encouraged Nigerians to take advantage of the scholarships which have been made available for this purpose. Inuwa also suggested the purpose of the government’s push to train many Nigerians is to ensure they become “early solution ...

The government body overseeing the crypto market in Uzbekistan has restored access to Bestchange.ru, a well-known exchange aggregator in the region. The move comes after earlier this year the regulator blocked a number of coin trading platforms, including Binance. Residents of Uzbekistan Can Again Use the Services of Bestchange.ru Uzbekistan’s National Agency of Perspective Projects ( NAPP ), the authority regulating the crypto space in the Central Asian nation, has removed restrictions imposed on Bestchange.ru , a popular exchange aggregator in Russia and the former Soviet space. The development was announced by the Digital Rights Center (DRC) law firm whose legal experts have been representing the crypto platform. The DRC is specializing in providing legal assistance to internet users and businesses and was able to secure the unblocking of Bestchange.ru in Russia. The NAPP, which is subordinated to the presidential administration in Tashkent, began restricting foreign-based c...

SevenX Ventures, a crypto investment fund focused on early-stage blockchain projects in Asia, has built over 80 public investment portfolios. The three co-founders, industry veterans, have built portfolios in DeFi, NFT, GameFi, and beyond. Since its launch in 2020, SevenX Ventures has advocated for immersive investing – going beyond financial support to assist funded projects in financial planning, tokenomic design, and marketing. The team helps startups create a stronger foundation that will hold during periods of growth and market changes. By mapping out parts of its portfolio below, Seven X shares its vision for a Web3 future. Blockchain Network Near is a Layer 1 public chain, which includes optimized sharding design, Nightshade consensus, and a large block design. It has developed and implemented Ethereum 2.0 in its system designs for POS and sharding. The protocol’s account system and the support for large-scale concurrent applications make it the most promising infrastruc...