Bitcoin News and Finance: What You Need to Know

According to an analysis of Google searches by Leverage Trading, Nigeria is the “second-highest country in the world for searches related to crypto leverage.” Along with South Africa and Ghana, the West African nation also dominates searches for the term “trade crypto.” Regulators and consumer protection agencies must “provide greater safeguards against predatory practices,” according to a spokesperson for Leverage Trading. Leveraged Trading and the Risks Nigeria had the second-highest score (94) globally for searches related to crypto leverage in the past five years, the latest analysis of Google searches conducted by Leverage Trading has shown. According to the analysis, Singapore (100) is the only country that outscored the West African nation when it came to searches “with an emphasis on transactional searches such as ‘how to leverage trade crypto.'” On the other hand, the analysis shows that Nigeria, along with South Africa and Ghana, dominate Google searches for the term ...

Major cryptocurrency exchanges operating in Ukraine have temporarily suspended operations with hryvnia bank cards. The measure stems from restrictions imposed by the country’s central bank, Binance and Kuna indicated in comments for crypto media. Ukrainians Unable to Trade Crypto Assets Using Cards in National Currency The world’s largest crypto exchange, Binance, and a leading Ukrainian exchange, Kuna, have announced temporary suspensions of operations with bank cards in Ukrainian hryvnia. Both trading platforms confirmed about the problems with such transactions. The limited processing of deposits and withdrawals in the national currency results from restrictions imposed by the National Bank of Ukraine (NBU), representatives of Binance told the crypto news outlet Forklog. The exchange has advised traders to use its peer-to-peer marketplace. “Currently, fiat channels, namely input and withdrawal through a bank card and other payment services, are temporarily suspended among crypt...

Xrp rebounded from a two-month low to start the weekend, as prices moved back above a key support point. The token, which fell to its lowest point since January on Friday, rose by as much as 2% on Saturday. Cardano also recovered yesterday’s losses. XRP XRP rose higher to start the weekend, as the token formerly known as ripple rebounded from a two-month low. XRP /USD jumped to an intraday high of $0.3795 earlier in the day, which comes after bottoming out at $0.3664 on Friday. Yesterday’s drop saw XRP fall to its weakest point since January 11, when prices were at a low of $0.3477. Looking at the chart, Saturday’s recovery has sent the token back above a long-term floor at $0.3720, which was broken yesterday. Overall, the rebound appears to have taken place as the relative strength index (RSI) bounced from a floor at 43.00 At the time of writing, the index is tracking at 43.48, with the next visible ceiling at the 45.00 mark. Cardano ( ADA ) In addition to XRP , cardano ( ...

Bitcoin consolidated recent losses on March 4, as cryptocurrency markets marginally stabilized from Friday’s sell-off. Prices plunged to a two-week low in yesterday’s session, however sentiment has somewhat shifted. Ethereum also recovered, moving back into the green to start the weekend. Bitcoin Bitcoin ( BTC ) consolidated Friday’s losses to start the weekend, as market volatility eased in today’s session. Following yesterday’s low of $22,213.24, BTC /USD rose to an intraday high of $22,444.19 earlier in the day. The move sees bitcoin move back above a long-term support point at $22,300, following Friday’s breakout. Additionally, the 14-day relative strength index (RSI) has also appeared to have found a floor, which has helped ease the decline in price strength. At the time of writing, the index is tracking at 42.89, which is marginally above the support point at 42.00 One area of concern for aspiring bulls is the imminent downward crossover of the 10-day (red) and 25-day (bl...

A group of countries in Latam is preparing a regional agreement to address inflation, a problem common to most nations in the region. The initiative, which is being spearheaded by Mexican president Andres Lopez Obrador, would allow the exchange of products with high prices between the states to lessen the effects of price rises. Latam Countries to Fight Together Against Inflation A group of Latam countries is banding together to organize a joint response against one of the biggest problems the region is fighting right now: inflation. Argentina, Brazil, Colombia, Cuba, and Mexico are preparing to sign an agreement to counter inflation, said Alberto Fernandez, the president of Argentina, in an interview with Ambito, an Argentine media outlet. Fernandez stated the initiative was proposed by Mexican President Andres Lopez Obrador, who had called him to inquire about different initiatives to curb the effects of rising prices in the economy of the region. There have already been talks a...

The value of digital assets under management (AUM) for digital asset investment products in February rose to $28.3 billion, the highest number recorded since May 2022, according to Cryptocompare stats. The increase came against the background of rising U.S. Securities and Exchange Commission (SEC) enforcement actions against crypto industry players. Bitcoin and ethereum continue to account for the lion’s share of the digital assets under management. Highest AUM Since May The total U.S. dollar value of digital assets under management (AUM) in February rose to $28.3 billion up from approximately $26.8 billion recorded in January, the latest Cryptocompare data has shown. The latest total makes this the “highest AUM recorded since May 2022,” the report added. According to a report released by Cryptocompare, a digital asset data provider, the latest AUM increase “signalled the bullish sentiment of investors and the increased appetite for digital assets.” The increase in the investor’s ...

Warren Buffett-backed Nubank, a Brazil-based neobank that debuted crypto trading options back in May 2022 on its platform, has announced the launch of nucoin, its own cryptocurrency. Part of the first batch of the currency, issued on top of Polygon’s network, will be issued to its customers as an airdrop, and for cashback purposes. Nubank Launches Nucoin Cryptocurrency Warren Buffett-backed Nubank, one of the biggest digital neobanks in Latam, has announced the issuance of its own cryptocurrency called nucoin. The token, which is issued on top of the Polygon network, will be airdropped to end users of the institution, with 80% of the total issuance being directed to the customers. According to local reports , nucoin will be key to several activities in the future, including the establishment of a cashback program, with users receiving rewards in the form of the token, and the realization of internal nucoin raffles. Nucoin will not have a secondary market, as transactions with the t...

An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the attributes of physical currency, including anonymity. India’s CBDC Update Reserve Bank of India (RBI) Executive Director Ajay Kumar Choudhary provided some updates on India’s central bank digital currency (CBDC) during an interview with CNBC-TV18 on Friday. The Indian central bank is exploring the offline functionality of the digital rupee, Choudhary conveyed. Noting that the CBDC will soon become a medium of exchange in India, he emphasized that it needs to have all features of physical currency, including anonymity. The RBI executive director previously said the design of India’s CBDC will be the least disruptive and will not replace physical currency or the current financial system. Choudhary further told the news outlet that the digital rupee will ...

Bitcoin dropped to a two-week low on Friday, as crypto markets continued to react to the uncertainty surrounding Silvergate. The solvency of the bank has been put into question, with Binance, Coinbase and other exchanges moving to halt transactions. Ethereum also edged lower, falling below $1,600 in the process. Bitcoin Bitcoin ( BTC ) plunged further into the red on Friday, as markets reacted to fallout surrounding Silvergate. The crypto bank recently announced that it wouldn’t be able to file its annual report to the Security and Exchange committee, whilst hinting at its “ability to continue (operating).” BTC /USD slipped to an intraday low of $22,241.78 earlier in the day, less than 24 hours after trading at a high of $23,540.16. Bitcoin chart by TradingView As a result of the move, bitcoin has now fallen to its weakest position since Valentines day, on February 14. However, instead of a pool of roses, Friday’s red wave has washed through the markets, leading to a hug...

Russia-linked cryptocurrency exchange Bitzlato has begun processing withdrawals of digital assets belonging to its customers. The trading platform was shut down in an operation carried out by law enforcement agencies in the U.S. and Europe alleging that it had been used to launder dirty money. Bitzlato Allows Withdrawals After Staying Offline for Weeks Users who have deposited funds to Bitzlato can now start to withdraw their coins, the recently seized crypto exchange said in a Telegram message. The announcement comes after a period of over a month during which the trading platform was unavailable. The Hong Kong-registered exchange, better known to Russian-speaking traders, was taken down in a coordinated law enforcement operation in January when French authorities took control of its website and their American colleagues arrested its co-founder Anatoly Legkodymov. The U.S. Justice Department believes Bitzlato has processed over $700 million in funds from criminal entities such as...

PRESS RELEASE. How to participate in the Arbitrum ecosystem as Layer 2 continues gaining traction? The Ethereum’s Layer 2 (L2) players have been performing exceptionally well to date, with impressive TVLs in the ecosystems of Arbitrum, Polygon, and Optimism as the market rebounds. Among these, Arbitrum has the largest TVL, accounting for almost 50% of L2 markets and 3% of the entire Ethereum mainnet. Arbitrum has consistently demonstrated strong operational capabilities with technical upgrades: the launch of dual mainnets – Arbitrum Nova and Arbitrum One and the debut of a brand new programming language, Stylus. The release of Odyssey’s weekly event has also generated significant attention to the ecosystem. Meanwhile, in the long run, as suggested by Vitalik, ZK Rollups might likely have more technical breakthroughs than Optimism Rollups and will become the leading L2 solution. Many crypto investors and enthusiasts are highly concerned with how to make good use of Arbitrum and bene...

The Spanish tax agency has included crypto as part of its new guidelines for this year’s upcoming tax collection season. Apart from boosting the channels for voluntary tax applications, the agency will potentiate the investigation of cryptocurrency in digital payments, including potentially seizing cryptocurrency associated with tax debts and criminal activity. Spanish Tax Agency to Intensify Crypto Tax Oversight The Spanish tax agency is preparing its crypto strategy for the upcoming tax collection season. On Feb. 27, the agency revealed several guidelines to increase the collection of taxes related to the use of cryptocurrency in digital payments, and also to curb criminal activity. In the document, the agency declares that “this year, the intention of the collection area to promote actions to locate crypto assets subject to seizure is underlined.” This could mean that tax debtors will be tracked and have their cryptocurrency seized to amend their debts. However, the document do...

The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition of coin minting equipment. Russian Crypto Mining Sector to Attract Shareholders Through Investment Fund Work has begun to set up the first mutual fund for investments in crypto mining enterprises in Russia, the business daily Kommersant reported. It will operate as a venture fund for the purchase of mining hardware through a special entity which will then lease the equipment. The new closed-end fund will be established by Finam Management, which will register it with the specialized depository in March, the article details. Only qualified investors will have access, with a minimum threshold of 300,000 rubles (almost $4,000). The company intends to raise 500 million rubles (over $6.6 million) before incorporating the leasing firm, Finam ...

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,...