Bitcoin News and Finance: What You Need to Know

Unity, a gaming engine development company, has announced the introduction of several blockchain-based integration options to its platform. The new options offer opportunities for developers, that will be able to take advantage of digital identity, tokens, non-fungible tokens (NFTs), and other technologies with direct integration into the Unity engine. Unity Reveals New Decentralization Push in Its Gaming Engine Unity, one of the biggest companies in the gaming industry, has announced support for a number of new blockchain technologies in its engine. The options, which are developer-focused, will allow users to obtain real ownership of their in-game assets, as well as manage tokens and digital identity solutions that can be exported to the real world. This means that developers will be able to take advantage of and integrate these technologies in their games in a streamlined way, focusing on building experiences instead of the technical issues that derive from complex blockchain i...

Three U.S. senators have asked crypto exchanges Binance and Binance US for documents and answers pertaining to “potentially illegal business practices.” The lawmakers told Binance CEO Changpeng Zhao (CZ): “Your actions have called into question the legitimacy of your business and the safety of your customers’ assets.” U.S. Lawmakers Probe Binance U.S. Senators Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), and Roger Marshall (R-KS) sent a letter to Binance and Binance US on Wednesday, calling for the crypto exchanges to “provide transparency about potentially illegal business practices.” The letter, addressed to Binance CEO Changpeng Zhao (CZ) and BAM Trading Services CEO Brian Shroder, asks for documents and answers concerning each crypto exchange’s “finances, risk management, and regulatory compliance as it faces investigations into potential crimes,” the senators detailed. Binance and its U.S. affiliate, Binance US, are two separate entities. BAM Trading Services is doing bu...

On March 2, Xapo Bank announced its partnership with Lightspark, a company led by David Marcus, former crypto boss at Facebook. The partnership aims to extend the utility of bitcoin and the Lightning Network. Xapo revealed on Thursday that it is the first fully licensed private bank to offer payments through the Lightning Network. Xapo CEO Sees Lightning Network Integration as a Solution to High Fees and Long Transaction Times Xapo has partnered with Lightspark to integrate the Lightning Network, according to an announcement sent to Bitcoin.com News. The company, founded in 2013, detailed that its clients can now pay for small purchases of up to $100 at any vendor that accepts Lightning Network payments. Additionally, Xapo is offering interest-bearing U.S. dollar bank accounts, with plans to soon offer the same for bitcoin. Xapo CEO Seamus Rocca believes that using the Lightning Network can help clients avoid long wait times and higher onchain fees. “The average transaction conf...

Bitcoin fell into the red on March 2, as markets reacted to further negative data from the United States. The nation’s manufacturing sector contracted for a fourth straight month in February, which comes as consumer confidence also fell last month. Ethereum was also lower, retreating from yesterday’s high. Bitcoin Bitcoin ( BTC ) fell lower in today’s session, as markets reacted to news that the U.S. manufacturing sector remained in contraction territory. In its monthly report, the ISM’s manufacturing index came in at 47.7, and typically any reading below 50.00 indicates contraction. As a result of this, BTC /USD slipped to an intraday low of $23,374.66, which comes a day after trading at a high of $23,821.15. The drop came as bitcoin bulls were unable to sustain a breakout above a resistance level of $23,800. Additionally, the 14-day relative strength index (RSI) has also declined, following a failed breakout of a ceiling at 55.00 At the time of writing, price strength is tra...

PRESS RELEASE. Since last year, CoinEx Charity has been funding children in poor areas, bringing them back to school to continue their education. The Mercy Children’s Educational Welfare Program is still ongoing and has helped over 20,000 children with funds from CoinEx Charity. Recently, CoinEx Charity received a report from the Human Development Foundation (HDF), a charitable organization based in Thailand. In its report, HDF thanked CoinEx Charity for its charitable donations and illustrated how the scholarship funds were used. HDF is a non-profit and non-denominational charitable foundation located in Klong Toey, the largest slum community in Bangkok, Thailand. To help poor children, HDF has established the Mercy Centre which currently houses 100 children, more than 20 of whom were born with HIV/AIDS. Since 2022, CoinEx Charity has been reaching out to the children at HDF Mercy Centre through donations. By providing protection, care, and appropriate education for the kids, HDF a...

While centralized exchanges are thought to be safer and more efficient, proponents of decentralized platforms like Tim Shan insist that user experience on decentralized exchanges has improved. In addition, inherent benefits associated with decentralized exchanges such as the self-custody of assets make look more appealing than centralized exchanges. Decentralized Exchanges Closing the Gap Despite seemingly possessing the edge over centralized exchanges (cex), according to Tim Shan, the COO of Dexalot , decentralized platforms still come short when it comes to the number of users or the volumes traded. Part of the reason for this is that cex platforms are often perceived to be safer and perhaps much faster and cheaper to use than decentralized exchange (dex) platforms. Although being slower and more expensive is “not a good combination for dexs,” Shan insisted in his written responses sent to Bitcoin.com News that ongoing innovations and improvements are helping decentralized platfo...

Crypto donations collected by the government in Kyiv since the start of the Russian invasion have amounted to almost $70 million, according to Chainalysis. Ether has been the most donated crypto followed by bitcoin and the stablecoin tether, the blockchain intelligence firm said in a report. Ukraine Receives Millions of Dollars in Various Coins From the Global Crypto Community The amount of cryptocurrency transferred to addresses published by the Ukrainian government to raise money for defense and other purposes has reached nearly $70 million, blockchain forensics firm Chainalysis revealed on the first anniversary of the conflict in the Eastern European nation. The authorities in Kiev started accepting donations in digital currencies soon after Russia launched its invasion in late February 2022. In March, Chainalysis said that more than $56 million worth of cryptocurrencies had been donated to the wallets of the Ukrainian government. Other digital donations have been made to addr...

PRESS RELEASE. VICTORIA, Seychelles — Bitget , a leading crypto derivatives exchange and copy trading platform, has announced direct integration with TradingView, a charting and trading platform used by millions of traders worldwide. The given addition will further expand the usability of Bitget’s service, offering users the chance to trade crypto without leaving the TradingView interface and make more informed and professional decisions, while enjoying the top-notch protection and security of Bitget. TradingView is a charting and trading platform. It not only enables users to perform technical and fundamental analysis using comprehensible instruments but also to communicate via the largest social platform for investors. With the TradingView integration, Bitget’s users can now access a variety of advanced analysis instruments, including charting tools, real-time market data, and technical indicators, and learn new strategies tested by millions of active traders from its thriving,...

Federal Reserve Bank of Atlanta’s president has warned of disastrous economic consequences similar to those seen during the financial crisis of the 1970s if the Fed loosens its policy prematurely. Noting that “inflation remains too high,” he stressed: “We don’t want a repeat, so we must defeat inflation now.” Fed Officials on Rate Hikes and Inflation Fight The president of the Federal Reserve Bank of Atlanta, Raphael Bostic, warned about “disastrous” economic consequences should the Fed loosens its policy prematurely in an essay published by the Atlanta Fed on Wednesday. “I believe inflation remains too high,” he wrote, emphasizing the need for the Federal Open Market Committee (FOMC) to raise interest rates more aggressively. Commenting on a narrative that the Federal Reserve should consider “reversing its course of raising the federal funds rate lest we go too far and cause undue economic hardship,” Bostic opined: While that perspective is understandable, history teaches that i...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says the world economy is on the verge of collapse. He warned investors about the risks of bank runs, frozen savings, and bail-ins that may come next. Robert Kiyosaki on Collapsing World Economy The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more gloomy warnings about the world 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 said on Tuesday that the world economy is on the verge of collapse, warning of several risks that could hurt investors. He tweeted: World economy on verge of collapse. Runs on banks next? Savings frozen? Bail-ins next? He then urged investors to buy silver. “You can buy a real silver coin for about $25,” he noted, adding that he doesn’t make ...

Two Zimbabwean startups, Flexid and Uhuru Wallet, recently launched a platform that offers digital identity and remittance services to migrants living and working in South Africa. The two startups hailed what they’ve described as the “first cross-chain collaboration between the two companies.” Harnessing the Benefits of the Blockchain The Zimbabwean blockchain startup Flex ID and the South Africa-based Whatsapp remittance platform, Uhuru Wallet, recently said they have launched a platform that offers “combined digital identity and remittance services to millions of Zimbabwean immigrants in South Africa.” In a statement shared with Bitcoin.com News, the two startups hailed what they described as the “first cross-chain collaboration between the two companies.” As revealed in the statement, Flex ID, which was co-founded by Victor Mapunga, harnesses the Algorand blockchain, while the Uhuru Wallet is built on the Stellar blockchain. Remarking on the two startups’ joint solution, Trust ...

PRESS RELEASE. Crypto investors have access to a wide range of investment methods, including short-term and long-term trading, wealth management, and auto-invest, among others. As investors differ from each other in terms of risk appetite and expected return, it’s crucial to identify an investment strategy that suits one’s unique circumstances. For crypto beginners or prudent investors, “lazy” investment strategies such as auto-invest are always a good choice. So, what is auto-invest? Auto-invest is a process of automatically investing a fixed amount of money with regular cycles. This investment strategy consists of two key components: fixed cycles and fixed amounts. The former means that investments are made at fixed intervals, while the latter represents the sum of money used to purchase the investment target every time is predefined. Many auto-invest methods are available, and the simplest one involves users investing a fixed amount of money at fixed intervals. When employing th...

Faced with cash shortages caused by the central bank’s currency policies, traders in the Nigerian state of Benue have reportedly resorted to barter trading. Traders from the state have implored the Nigerian government to consider rescinding the Central Bank of Nigeria’s naira redesign policy. The Nigerian Supreme Court has said it will pass its judgment on a suit challenging the naira redesign policy on March 3. Barter Trade Helping Businesses Stay Afloat The cash shortages sparked by the Central Bank of Nigeria (CBN)’s so-called naira redesign policy have seen traders in the Nigerian state of Benue resort to barter, a local report has said. The report added that some traders, especially those without bank accounts, began accepting payment in the form of goods or produce shortly after the passage of the old naira demonetization deadline. As previously reported by Bitcoin.com News, the CBN’s botched attempt to replace old naira banknotes with newly designed ones has sparked unrest...

A national survey commissioned by Coinbase suggests that about 20% of U.S. adults currently own crypto. In addition, 29% of U.S. adults plan to buy or trade crypto in the next 12 months. “The vast majority of Americans want to see the financial system updated and they believe crypto can be a powerful part of the solution,” Coinbase said. Crypto Survey Commissioned by Coinbase A nationwide survey of 2,202 participants from the general population was conducted by Morning Consult from Feb. 10-14. “The data were weighted to be representative of U.S. adults based on age, race/ethnicity, gender, educational attainment, and region,” the market research firm described. “The purpose of this study was to examine perceptions of the global financial system and how U.S. adults and cryptocurrency investors view the future of the crypto market and exchanges.” Citing the survey results, the Nasdaq-listed cryptocurrency exchange Coinbase, which commissioned the study, commented: The vast majority...

Economist Peter Schiff has predicted that the U.S. Federal Reserve will ultimately throw in the towel on its inflation fight to confront “something it fears even more, which is a complete economic collapse, another financial crisis, or a sovereign debt crisis.” He stressed, “The months of declining inflation are in the review mirror,” emphasizing that now “we’re going to see accelerating inflation.” Peter Schiff on Potential Economic Collapse Economist and gold bug Peter Schiff shared some dire warnings about where the U.S. economy is headed and the consequences of the Federal Reserve’s fight against inflation in an interview with Greg Hunter on the USAWatchdog show, published Saturday. Citing recent economic data, including the personal consumption expenditures price index which rose 0.6% in January, Schiff said: “The months of declining inflation are in the review mirror. And now we’re going to see accelerating inflation as measured by these government indexes.” Asserting that t...

Israel’s public stock exchange is suggesting regulatory amendments that would permit some clients to trade crypto assets. The proposals, which have been put forward for public consultation, come at the backdrop of a growing number of regulated institutions getting involved in the digital asset market, the exchange noted. TASE Exchange Moves to Regulate Cryptocurrency Trading for Brokers The Tel Aviv Stock Exchange ( TASE ) has published a draft proposing to allow clients of non-banking institutions (NBMs) among its members to buy and sell cryptocurrencies. It intends to expand the list of authorized activities for such entities in order to add crypto trading. NBMs provide brokerage, investment and advisory services, and operate as intermediaries. While they can process various transactions such as the transfer of funds, they are not permitted by law to accept direct deposits from customers or act as custodians. Israel’s only public exchange is now seeking feedback on its regulator...

Web3 gaming platform Iskra breaks into the Top 10 Games ranking list on DappRadar , the world’s leading directory for decentralized apps or dApps, in a promising start for the project in 2023. Iskra also reached another milestone as the #1 app on the Klaytn blockchain after seeing an impressive increase in their user activity that reached a new high of 19.49K UAW (unique active wallets) per day. The successful launch of several highly anticipated platform features earlier this year contributed to Iskra’s rise through the ranks and placed it on the map as one of the most promising projects in the Web3 gaming space. “We are very excited to see the engagement from our community with the launch of our most recent platform features,” Iskra’s Chief Operating Officer Spike Ryu explained. “We hope that this momentum continues as we launch our games and offer early access to them in the second quarter. This is a promising start to 2023.” Iskra started 2023 by unveiling its multi-year Plat...

Several Japanese tech and finance giants have signed a document to create the Japan Metaverse Economic Zone, a multipurpose virtual universe that will have its base in a platform called Ryugukoku. The virtual world will allow these companies to share their technology with users as it lets them roam this role-playing-game-like world as online avatars. Japan Goes Big on Metaverse With Japan Metaverse Economic Zone Several Japanese tech and finance companies have kickstarted the launch of one of the biggest metaverse initiatives in Japan. On Feb. 16, JCB, Mizuho Financial Group, Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial Group, Resona Holdings, Sompo Japan Insurance, Toppan, Fujitsu, and TBT Lab signed an agreement to create what they called the Japan Metaverse Economic Zone, an open multipurpose metaverse platform in a virtual world called Ryugukoku, which will be operated by JP Games, the company that will be in charge of the design of the experience. The idea behin...

Neal Stephenson, ostensibly the first to coin the term “metaverse,” issued his opinion about the future of the adoption of virtual worlds. The sci-fi writer and co-founder of Lamina1, a blockchain metaverse company, believes that building experiences that millions of people consider worth having in virtual worlds is quite difficult, hampering the adoption process of the tech. Neal Stephenson on the Future of Metaverse Adoption Neal Stephenson, believed to be the creator of the general concept and term “metaverse” — popularized recently by Meta — believes that mainstream adoption of this tech might be very far away. The writer, who coined the term as part of his novel Snow Crash, published in 1992, stated that the growth of the metaverse will depend on the quality of the experiences offered in the virtual world. As part of an interview offered to the Financial Times , Stephenson stated: There won’t be a metaverse that is used by millions of people until it contains experiences th...

On Monday, Wasabi Wallet and the open-source bitcoin payment processor Btcpay announced a new plugin for the Btcpay server. The plugin implements Wasabi’s Wabisabi coinjoin coordination protocol, allowing merchants to benefit from privacy enhancement. By activating the newly launched plugin, all the funds that merchants receive and send will be coinjoined, or mixed together with other bitcoin transactions. New Btcpay Server Plugin Aims to Bolster Bitcoin Privacy According to an announcement from the privacy-centric bitcoin wallet platform Wasabi Wallet and the bitcoin payment processor Btcpay , merchants now have the ability to obfuscate their incoming and outgoing bitcoin (BTC) transactions. The technology comes in the form of a new plugin for Btcpay, which was developed by Andrew Camilleri and based on Wasabi Wallet’s Wabisabi coinjoin coordination protocol. The Btcpay plugin’s scheme “protects the privacy of all their incoming and outgoing transactions by preventing sensitive...

The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over the weekend. G20 Agrees Crypto Poses Major Risks to Financial Stability, Says RBI Governor Reserve Bank of India (RBI) Governor Shaktikanta Das talked about cryptocurrency during a media briefing Saturday following the G20 meeting of finance ministers and central bank governors in Bengaluru. According to India’s state-owned media agency News On Air: Das told the media that there is now wide recognition and acceptance of the fact that crypto currencies or assets are major risks to financial stability, monetary systems, and cyber security. Das also noted that G20 delegates expressed interest in central bank digital currency (CBDC) pilot projects in India and other countries, the publication con...