Bitcoin News and Finance: What You Need to Know

Tesla and Spacex CEO Elon Musk says commercial real estate is “melting down fast,” warning that home values will be next. Some experts disagree with Musk regarding the residential real estate market, including Shark Tank star Barbara Corcoran. However, she agrees that the commercial real estate market is “going to be a bit of a bloodbath before it gets better.” Elon Musk’s Real Estate Market Warnings Tesla and Spacex CEO Elon Musk warned about real estate markets in a tweet Monday. The billionaire cautioned that the commercial real estate market is “melting down fast,” predicting that home values will be next. Musk’s tweet was in reply to venture capitalist David Sacks, founder and partner of Craft Ventures, who extensively discussed the challenges faced by the commercial real estate market through a series of tweets over the past few days. Sacks highlighted the effects of the Federal Reserve raising interest rates from near 0% to about 5% in the past year, stating that they cor

Economist Peter Schiff has warned of an impending U.S. dollar crisis. He predicted that with the new debt ceiling deal, “reckless government spending and borrowing will continue until a sovereign debt and U.S. dollar crisis bring it to a catastrophic end.” Peter Schiff’s Latest Economic, Dollar Crisis Warnings Economist and gold bug Peter Schiff has taken to Twitter to voice concerns about the U.S. economy and the impending U.S. dollar crisis. His warnings followed the recent debt ceiling deal reached to prevent the U.S. from potentially defaulting on its debt obligations. “Now that the fake debt ceiling crisis is behind us, we can focus on the real crisis that lies ahead,” Schiff tweeted Wednesday, emphasizing: Suspending the debt ceiling yet again means that reckless government spending and borrowing will continue until a sovereign debt and U.S. dollar crisis brings it to a catastrophic end. “The $1.5 trillion the debt ceiling deal purports to save over 10 years amounts to

Mark your calendars for the 14th and 15th of June, 2023, as the Louvre Palace, Musée des Arts Décoratifs, Paris, prepares to host Proof of Talk , the pinnacle of Web3 leadership and networking events. With the rallying cry of ‘Bringing Back Trust into Web3’, this summit is poised to be a hotbed of innovation, collaboration, and transformation. This inaugural edition of Proof of Talk is set to be a star-studded affair, featuring luminaries such as Charles Hoskinson, Co-Founder of Cardano, Pascal Gauthier, CEO of Ledger, Stani Kulechov, Founder & CEO of Aave, Justin Sun, Founder of Tron, Staci Warden, CEO of Algorand Foundation, and Marieke Flament, CEO of NEAR Foundation, and Sandeep Nailwal, Co-Founder of Polygon Technologies. This is your chance to rub shoulders with the brightest minds shaping the future of Web3. But the guest list doesn’t stop there. High-potential startups, government officials, and regulatory authorities from European powerhouses like the UK, Germany, and

A body representing the interests of Russian businesses has called on president Putin to help with crypto legalization. Their proposals, including on the use of cryptocurrencies in foreign trade settlements, have been included in a report to Russia’s head of state. Companies Urge President Putin to Support Legalization of Crypto Payments Russian businesses are seeking help from the Kremlin in efforts to legalize decentralized cryptocurrencies like bitcoin. Their request has been included in the annual report of Russia’s Business Ombudsman, Boris Titov, to president Vladimir Putin. The recommendations were laid out in a paper titled “Key Business Problems under Sanctions and Structural Transformation in 2023” produced by the Institute of the Commissioner for the Protection of Rights of Entrepreneurs under the President of the Russian Federation. Among other suggestions, the authors urge for allowing the use of cryptocurrencies in international settlements. More specifically, they p

A government official in Moscow has advised Russians to avoid cryptocurrencies now when interest in foreign fiat currencies is declining in the country. The high-risk assets are not suitable for the savings of most people and make sense only for investments by rich people, his comments suggest. Finance Ministry Don’t Want to See Russians Saving in Cryptocurrency Restrictions imposed by the Russian state on foreign currency accounts and operations amid Western sanctions have led to a decrease in the volume of savings kept in foreign fiats. Against this backdrop, Russians have been warned they shouldn’t switch to cryptocurrencies. “We would definitely not want citizens’ savings to be directed to digital currencies,” the head of the Financial Policy Department of the Russian Ministry of Finance, Ivan Chebeskov, stated during the blockchain conference “Finance of the Future: Challenges and Opportunities.” Cryptocurrencies are a high-risk instrument, he pointed out quoted by RBC Crypto

PRESS RELEASE. According to a report by the World Bank in March 2023, the global poverty rate has reached an alarming figure, with approximately 659 million individuals living in impoverished conditions. Disturbingly, extreme poverty is notably concentrated in Africa. The first quarter of 2023 witnessed a surge in the number of impoverished households across Asia and Africa, primarily due to the devastating impact of natural disasters such as earthquakes and floods. In light of these challenges, CoinEx Charity , a charity branch of CoinEx, a global crypto exchange, has taken a proactive step towards empowering the dreams of children in need. The organization has announced the launch of the “Grant for Fulfilling Dreams” initiative in various regions, including Vietnam, Nigeria, Thailand, Indonesia, Syria, and Türkiye, commencing this May. The primary objective of this charitable program is to provide grants and school supplies to disadvantaged students, offering them opportunities to

Kenyan President William Ruto recently urged his counterparts on the African continent to kickstart the process of ditching the U.S. dollar and replacing it with a pan-African settlement system. Ruto said the Pan-African Payments and Settlement System (PAPSS) allows business people to focus on moving goods and services. Pan-African Settlement System to Help African Countries Bypass U.S. Dollar Kenyan President William Ruto has called on fellow African leaders to start taking steps aimed at replacing the U.S. dollar with an alternative payment solution known as the Pan-African Payments and Settlement System (PAPSS). According to Ruto, this alternative settlement system, which was launched in Jan. 2022, allows African countries to use their respective currencies when trading among themselves. The Kenyan leader, who spoke at a forum of government and private sector officials, suggested that African countries can commence the process of ditching the dollar by encouraging central banks a

PRESS RELEASE . Kermit The Coin, the hottest new memecoin in town, is making waves in the crypto community with its unique charm and promising potential. Today, the Kermit team is thrilled to announce several exciting developments that will take the project to new heights. Kermit The Coin, known for its lovable green frog mascot, has captured the hearts of crypto enthusiasts around the world. With a strong and growing community, Kermit has gained significant attention and support since its launch less than 48 hours ago. Here are the latest updates on Kermit The Coin: Impressive Milestones Achieved: Within just 24 hours of its launch, Kermit The Coin has already attracted over 1,200 holders, showcasing the immense interest and engagement from the crypto community. Additionally, the trading volume reached a staggering $16 million, reflecting the high demand and liquidity of Kermit in the market. Marketing Expansion: Kermit is doubling down on its marketing efforts to reach a wider a

Acquiring a bank wouldn’t solve the issues with banking for Binance or others, the CEO of the largest crypto exchange is convinced. Speaking in the aftermath of the collapse of crypto-friendly banks in the U.S. and amid Binance’s issues with payment providers in Australia, Changpeng Zhao said investments in several banks might be a better option although not a guarantee that crypto won’t be cut off. Binance Founder CZ Responds to Call to Buy a Bank, Says He Doesn’t Like Running Businesses With Debt Binance has looked into the potential acquisition of a traditional bank but found that’s not an ultimate solution to its own and the crypto industry’s issues with banking. Changpeng Zhao ( CZ ), the exchange’s founder and chief executive, commented on the matter on the Bankless podcast this week. “You buy one bank, it only works in one country, and you still have to deal with the bank regulators of that country,” the crypto entrepreneur said, answering a question from Twitter user @Degen

Shiba inu moved closer to a six-month low on Wednesday, as sentiment in cryptocurrency markets shifted bearish. Litecoin was another notable token to fall, slipping by over 4% today. The global market cap is currently down by over 2% at the time of writing. Shiba Inu (SHIB) Shiba inu (SHIB) fell below a key support point earlier in today’s session, moving closer to a six-month low as a result. Following a high of $0.000008784 on Tuesday, SHIB/USD dropped to a intraday low of $0.000008398 earlier in the day. This drop resulted in the meme coin falling below a key support point of $0.000008500, approaching its lowest point since January 8. From the chart, it appears that the latest decline comes as the 14-day relative strength index (RSI) moved towards a floor at 32.00. At the time of writing, the index is tracking at 33.76, following a failed breakout of a ceiling at 44.00. Should price strength fall to the aforementioned support point, there is a good chance SHIB will hit a new

Multiple reports have revealed that Binance, the crypto exchange with the highest trade volume, has announced the removal of 12 privacy-focused cryptocurrencies from its markets in Spain, France, Poland, and Italy. Commencing on June 26, 2023, users residing in these four countries will no longer have the option to purchase or trade these privacy coins on Binance’s trading platform. Binance to Delist 12 Privacy Coins in Spain, France, Poland and Italy Binance has recently informed its customers in France, Spain, Italy, and Poland via email that it intends to remove 12 distinct privacy coins from these markets. Among the privacy coins set to be delisted are dash ( DASH ), verge (XVG), beam (BEAM), monero ( XMR ), navcoin (NAV), firo (FIRO), horizen (ZEN), secret (SCRT), zcash (ZEC), pivx (PIVX), decred (DCR), and mobilecoin (MOB). “Due to local regulatory requirements, Binance is no longer able to offer privacy-enhanced cryptocurrencies in France,” an email to French customers detai

In the wake of Binance’s departure from Canada, cryptocurrency exchange Bybit has announced its exit from the nation as well, citing “recent regulatory development” as the reason. Effective May 31, Bybit stated that it would cease accepting applications from Canadian residents. Bybit to Pause Operations in Canada According to a Tuesday announcement , Bybit is withdrawing from Canada and has suspended new registrations from Canadian residents as of Wednesday. Starting July 31, Canadians will be unable to deposit funds; however, they can still withdraw and reduce their trading positions for the time being. “Canadian Customers who are implicated by these measures should take steps by September 30, 2023, 8AM UTC to wind down and manage their positions,” Bybit said. “Failing which, open positions in any margin products and derivative contracts — will be liquidated and the liquidated funds will be available for withdrawal.” While Bybit explained it has always prioritized compliance, it a

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians  The New Development Bank (NDB), aka the BRICS bank, is seeking to offer more loans in local currencies to reduce dependence on the U.S. dollar and avoid foreign exchange risk. “We need to create a diversified global currency system,” NDB’s president stressed, adding: “In the future, it is unlikely that one single currency can dominate the world’s currency system. We will see more local currencies used to settle trade.” ‘We Will See More Local Currencies Used to Settle Trade’ The New Development Bank (NDB), formerly known as the BRICS Development Bank, is seeking to finance more projects in local currencies. The NDB was founded by the BRICS nations, namely Brazil, Russia, India, China, and South Africa. Besides the five founding members, Bangladesh, the United Arab Emirates (UAE), and Egypt have also joined. In addition, Uruguay is currently a prospective member, and recent reports s

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians  The global blockchain gaming market will grow significantly during the next seven years and is expected to reach a market cap of $301.53 billion by 2030, according to a report issued by markets and intelligence firm Grand View Research. The “Blockchain In Gaming Market Size” report, found that this growth will be powered by the transition from traditional to blockchain gaming. Entertainment Market to Shift to Blockchain-Based Games The blockchain gaming market will grow significantly during the next seven years according to some predictions. A report issued by Grand View Research, a California-based markets research firm, predicts that the global blockchain gaming market will reach a market cap of $301.53 billion by 2030. According to the report, this growth will be incentivized by the shift from traditional gaming to alternatives that allow ownership of assets, transparency, and

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians  Three months have passed since Paxos made the decision to cease the production of new BUSD tokens, complying with the directive issued by the New York Department of Financial Services (NYDFS). Since February 13, 2023, 10.62 billion BUSD tokens have been redeemed thus far. Within the span of the last 30 days, slightly more than one billion BUSD stablecoins have been withdrawn from circulation. BUSD Redemptions Exceed 10 Billion Tokens Since NYDFS Announcement Despite tether ( USDT ) approaching its all-time high in terms of market capitalization, the stablecoin economy is currently experiencing its lowest value range since September 2021. A decent-sized fraction of the stablecoin economy’s decline can be attributed to the redemption of BUSD tokens. Three months ago, or 107 days to be precise, Paxos made an announcement in compliance with the directives from the NYDFS, stating that t

Bitcoin erased recent gains on Wednesday, as markets reacted to the latest points of U.S. economic data. One of which being consumer confidence, which dropped to a six-month low in May. Ethereum was also lower in today’s session, dropping below $1,900. Bitcoin Bitcoin ( BTC ) neared a breakout below $27,000 on Wednesday, as markets reacted to the latest data surrounding consumer confidence in the United States. Following a high of $28,037.69 on Tuesday, BTC /USD slipped to an intraday low of $27,009.69 earlier in the day. The downturn comes as momentum in the market has slightly shifted, with the global crypto market cap falling by 2.59% as of writing. Bitcoin chart by TradingView Overall, today’s decline in BTC comes despite an upcoming crossover between the 10-day (red) and 25-day (blue) moving averages. From the chart, it appears that a failed breakout of a ceiling at 53.00 on the relative strength index (RSI) played a significant role in this. The index is now trac

Cryptocurrency exchange Bybit has received an in-principle approval to work in Kazakhstan, a jurisdiction increasingly seen by crypto companies as a gateway to the former-Soviet space. The trading platform wants to expand its presence in the region and other emerging markets. Bybit on Route to Winning Kazakhstan Crypto License Singapore-based Bybit, one of the world’s leading crypto spot exchanges , is now a step closer to becoming a licensed crypto operator in Kazakhstan. On Tuesday, the company announced it has obtained in-principle approval from the Astana Financial Services Authority (AFSA). “The in-principle approval subjects Bybit to pre-conditions leading to permanent authorization upon Bybit’s completion of the full application process,” a press release explained. When licensed, it will be able to operate as a digital asset exchange and custody service provider. AFSA is the regulatory body overseeing the Astana International Financial Centre (AIFC), Kazakhstan’s financial

What is wrong with the current P2E market Since most P2E projects do not create long-playing products, the Free-to-Play model of the past decade is breaking down, threatening to disrupt a $100B+ industry. The main lessons learned before 2023 are: NFTs were misused for trading and farming, not for gaming, Pay-to-play model anyway to engage in a full-featured game, Low quality graphics and lack of unique generated content, Farming and breeding decrease economy in a long run, Complex onboarding of Web2 gamers. Here’s where Junkineering comes into play, with the goal to improve the model, align incentives between developers and players in a virtuous cycle, as well as deliver a quality product, engaging and Fun-to-Play. The approach they offer is as follows: Game design based on the NFT Utility, Fair free-to-play and Digital Ownership, User Generated Content, No breeding, no farming mechanics, Familiar experience for Web2 audience. What is Junkineering Junkineering is a