Bitcoin News and Finance: What You Need to Know

The Nasdaq-listed crypto exchange Coinbase has obtained a license from Singapore’s central bank, the Monetary Authority of Singapore (MAS), to provide services to both individuals and institutions. “We’ve identified Singapore as a vital market for Coinbase,” the crypto exchange emphasized. “The nation’s progressive economic strategies and approach to regulation sync well with our global mission and objectives.” Coinbase Expanding in Singapore Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Sunday that it has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), the Singaporean central bank and financial regulator. Coinbase emphasized: This development, coming after our initial In Principle Approval, amplifies our commitment to the Singapore market, enabling us to expand our provision of Digital Payment Token services to both individuals and institutions in Singapore. The Nasdaq-listed crypto exchange received In Principle A

Bitcoin Policy UK has urged the British government to review Chase Bank’s policy to decline all crypto payments. “It is, of course, the stated policy of this Government that the U.K. become a crypto asset hub, but it is hard to square this policy aim with the actions of this U.K.-regulated bank,” the crypto advocacy group wrote. UK Government Urged to Review Chase Bank’s Anti-Crypto Policy Bitcoin Policy UK sent a letter to Economic Secretary to the Treasury Andrew Griffith MP, on Sept. 28, raising concerns about Chase Bank’s new policy to block all crypto payments. Chase is a registered trademark and trading name of J.P. Morgan Europe Ltd. The British bank informed its customers in the U.K. last week that it will decline all crypto-related payments beginning Oct. 16. “We write to express our deep concern regarding the recent decision by Chase Bank to decline customer payments relating to crypto assets,” the crypto advocacy group wrote, adding: It is, of course, the stated polic

The U.S. Securities and Exchange Commission (SEC) and several other top financial regulators have issued several warnings regarding investing in crypto assets as part of this year’s World Investor Week. “The risk of loss for individual investors who participate in transactions involving crypto assets, including crypto asset securities, remains significant,” the regulators stressed. Crypto Warnings Highlighted in World Investor Week The SEC’s Office of Investor Education and Advocacy (OIEA) issued an Investor Bulletin on Sept. 29 as part of this year’s World Investor Week. This global campaign, promoted by the International Organization of Securities Commissions (IOSCO), aims to raise awareness about the importance of investor education and protection. The bulletin is a collaborative effort involving the SEC, the Financial Industry Regulatory Authority (FINRA), the Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), the Securities Investor Protection

Following his conviction for unlicensed money transmission, money laundering, and tax evasion at the close of December 2022, Keene dweller, libertarian activist, and Free Talk Live co-anchor, Ian Freeman has been sentenced to eight years behind bars this Monday. His fellow Free Talk Live co-host, Mark Edge, explained that an appeal is poised to trail the verdict. Libertarian Broadcaster Handed 8-Year Sentence for Selling Bitcoin As the concluding defendant in the Crypto Six saga, Ian Freeman faced a federal judge’s verdict on Monday, following his conviction at December’s end. During the interlude before sentencing, Freeman remained unconfined, but post-sentencing, U.S. Marshals escorted him to incarceration. At 43, Freeman articulated to the court his belief of not having trespassed the law, stating his crypto sales venture aimed to propagate cryptocurrency adoption. Post-sentencing, Mark Edge, Free Talk Live’s co-host, penned : Ian Freeman received 8 years in federal prison

After the FTX hacker transferred 5,000 ethereum ( ETH ) valued at $8 million in purloined assets, the cybercriminal shifted an additional 25,000 ether, totaling $43.15 million. Yet, even after relocating tens of millions of dollars in ethereum, the FTX wallet drainer still holds a whopping 155,749 ETH , currently valued at slightly above $268 million. FTX Hacker Moves 30,000 Ether In the past three days, the individual responsible for the FTX theft has shifted a total of 30,000 ETH , worth approximately $51.15 million based on current ETH values. Following two initial transfers of 2,500 ETH each, subsequent movements were 1,250 ETH , 2,500 ETH , 1,500 ETH , 4,750 ETH and two separate transfers of 7,500 ETH each. The hacker’s holdings also include 155,749 ETH valued at $268 million, 3.97 million tether ( USDT ), 1.68 million DAI and 1.57 BTC , along with a variety of other crypto assets and ERC20 tokens. This news emerges as former FTX CEO Sam Bankman-Fried prepares for his O

In the world of cryptocurrencies, the emergence of Shiba Budz (BUDZ) has sparked a notable revolution in the realm of decentralized gaming. This development is characterised by the innovative use of blockchain technology to enhance gaming processes and establish secure on-chain marketplaces, creating a foundation for transparent and secure transactions. The central goal of this revolution is to decentralize meme gaming, fostering cross-chain compatibility and encouraging various gaming communities to participate in the Shiba Budz (BUDZ) ecosystem. At the heart of Shiba Budz (BUDZ) revolution lies a commitment to sustainability, seamlessly integrating gaming culture with environmental consciousness. Users are provided with the unique opportunity to engage in virtual farming, staking, and earn BUDZ through gaming competitions and rewards. Each user can immerse themselves in the role of a virtual cannabis entrepreneur and participate in the trading of virtual items for BUDZ or other i

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Brazil launches a blockchain-based ID card, the Venezuelan cryptocurrency watchdog Sunacrip extends its restructuring period, and Buenos Aires launches a “self-sovereign” blockchain ID program. Brazil Launches Nationwide Blockchain-Based ID The government of Brazil announced the implementation of a nationwide blockchain-based ID card that will centralize the identity function of all states. Selected states, including Goias, Parana, and Rio de Janeiro, will begin issuing the National Identity Card immediately, with all states having to adopt it by November 6. The digital document will serve as a weapon to fight identity theft in Brazil, as the card includes a QR code that will be used to verify the authenticity of the ID and other documents linked with it. Alexandre Amorim, president of Serpro, the federal company that developed the ID system, comme

In a letter to the judge published Saturday, prosecutors laid out plans to call customers, investors, and co-conspirators to testify in next week’s trial of Sam Bankman-Fried. The former CEO of cryptocurrency exchange FTX faces charges of fraud and conspiracy for allegedly misusing customer funds. Investors and Customers to Testify in Fraud Trial of Crypto Magnate Sam Bankman-Fried Sam Bankman-Fried’s trial , slated to begin next week, will feature investors and customers, according to a letter penned by Damian Williams, the U.S. attorney for the Southern District of New York. Additionally, there will be co-conspirator testimonies from FTX senior personnel such as Zixiao (Gary) Wang, Caroline Ellison , Nishad Singh and Ryan Salame. Prosecutors say customer testimony will show that users deposited funds on FTX expecting the company would keep the assets safe and separate from its own funds. This relates to charges that Bankman-Fried violated customers’ trust, the letter discloses.

Licensed crypto mining companies have urged the government in Kazakhstan to revise its taxation policy regarding the sector, which they say is in dire straits. The largest mining firms plan to leave the Central Asian nation by the end of this year, warned the members of the industry. Miners Criticize Kazakhstan Government’s ‘Unbalanced’ Tax Rules Crypto mining businesses, authorized to operate in Kazakhstan, have complained about the high production costs since the government limited their access to subsidized electricity and imposed a progressive scale for a surcharge they are required to pay for the power they use. In an open letter to President Kassym-Jomart Tokayev, eight companies involved in the minting of digital currencies called for a revision of the applicable tax rules. Warning authorities that Kazakhstan’s mining sector is now “in extremely dire straits,” they also revealed: Today, all the largest representatives of the industry have suspended their activities and p

The U.S. Securities and Exchange Commission (SEC) announced charges against an accounting firm that worked for failed cryptocurrency exchange FTX. The company, Prager Metis, has been accused of facilitating clients in breaking federal securities laws and also auditor independence violations. FTX Accountant Prager Metis Charged With Auditor Rules Violations The U.S. securities regulator has charged accounting firm Prager Metis CPAs, LLC and its California professional services firm, Prager Metis CPAs, LLP with violating auditor independence rules while also aiding and abetting clients’ violations of America’s securities laws. In its complaint, filed in the U.S. District Court for the Southern District of Florida, the SEC claims that between December 2017 and October 2020 Prager included indemnification provisions in engagement letters for more than 200 audits, reviews, and exams. It alleges: Prager was not independent from its clients for those engagements, as required under the f

As of October 1, 2023, $39.50 billion is nestled within decentralized finance (defi) platforms. Let’s dive into the top five categories, spotlighting the diverse array of defi protocols, the count of these applications, and the wealth they encompass. A Look at 5 Defi Categories Commanding Billions in Crypto Assets Defillama.com , a decentralized finance (defi) industry aggregator, showcases an array of defi protocols, their underlying blockchains, and their held values. It features around 35 unique categories of applications. Dominating the scene are liquid staking derivatives applications, with 119 of them controlling $23.05 billion. Liquid staking derivatives represent tokens that are backed by staked assets in blockchain networks, allowing users to remain liquid while their assets are staked. In essence, they let you earn staking rewards without locking up your assets, by converting them into tradable tokens. Lending, the runner-up in the defi realm, encompasses protocols ena

On September 29, 2023, the asset management firm Vaneck unveiled an initiative to earmark 10% of its profits from its ethereum ( ETH ) exchange-traded fund (ETF) towards protocol development for at least ten years. This financial infusion will be given to the Protocol Guild, a consortium of over 150 core Ethereum developers, fueling their quest to further refine and grow the Ethereum protocol. A Decade-Long Commitment to Ethereum Development Vaneck is set to contribute 10% of its ethereum futures ETF profits to the advancement of Ethereum, as revealed in a statement released on the social media platform X this past Friday. “We intend to donate 10% of our EFUT ETF profits to Protocol Guild for at least 10 years,” the firm said . “Thank you, Ethereum contributors, for nearly a decade of relentless building & ongoing stewardship of this common infrastructure.” The Protocol Guild encompasses over 150 Ethereum core developers, with an onchain registry bearing testimony to its membe

As markets continue to move sideways, crypto companies are trying to increase user engagement through airdrops. Among them are some well-known names in the space as well as new projects searching for their place. They all seek to arouse interest in digital money and their own products with giveaways of coins and tokens. From Binance Rewards to Wall Street Memes, October Brings a Number of Airdrops Airdrops are a popular way to win some crypto by interacting with new or well-established platforms in the industry, a reward for those who are willing to get involved, see potential, or are simply out hunting for some free digital cash. Not least, they offer newcomers an opportunity to try cryptocurrency, and not necessarily after spending fiat. The world’s largest cryptocurrency exchange, , has been at loggerheads with regulators around the world this year and the clash has brought it bad publicity. However, despite the challenges, including legal battles , probes, and de-banking in t

Crypto lender Blockfi is moving closer to returning funds to clients after a bankruptcy judge confirmed its Chapter 11 plan on Tuesday. The plan outlines a process for the company to distribute the remaining assets to clients and attempt to recover additional funds. Blockfi Advances on Client Asset Reimbursement Following Chapter 11 Plan Approval With over 90% of voting creditors approving the plan, Blockfi expressed optimism about providing client recoveries relatively quickly compared to similar crypto bankruptcies. The plan confirmation comes after Blockfi originally filed for bankruptcy protection in November 2022, amid the broader crypto market downturn. Under the approved plan, Blockfi will first distribute the remaining digital assets back to clients with funds in Blockfi Wallet accounts. The company will then make an initial distribution to clients with funds in Blockfi Interest Accounts (BIAs) and retail crypto-backed loans. “Over the coming months, you will receive an e

Bitcoin.com, one of the world’s leading cryptocurrency wallet developers and news portals, has partnered with the Busan International Film Festival as a major sponsor. The Busan International Film Festival (BIFF), held annually in South Korea, is one of the most significant film festivals in all of Asia. By sponsoring the event Bitcoin.com seeks to support artistic endeavors and reach new audiences. The 28th Busan International Film Festival will take place on October 4-13, 2023 at the Busan Cinema Center in Busan, South Korea. The festival will showcase the best of Asian cinema and feature various events and programs, such as master classes, open talks, hand-printing ceremonies, and awards ceremonies. The opening film will be Because I Hate Korea by Jang Kun-jae, and the closing film will be The Movie Emperor by Ning Hao. The festival will also honor Hong Kong star Chow Yun-fat with the Asian Filmmaker of the Year award. You can find more information about the festival on its offici

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has explained why the securities regulator is taking a litigation-heavy strategy to regulate the crypto industry. The SEC chair insisted that enforcement actions against crypto firms are not brought with a political agenda, emphasizing that he is protecting the American public. “This is a field where the American public is at risk and being harmed every day on these platforms that are commingling and often trading against their customers,” he cautioned. Gensler Reveals Why SEC Focuses on Litigation in Regulating Crypto The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, testified before the House Financial Services Committee on Wednesday. During the hearing, several members of Congress raised questions about cryptocurrency and the regulation of crypto tokens. Congressman John Rose (R-TN) asked Gensler: “Regarding cryptocurrencies … I’m interested in why you have pursued a litigation-hea

The U.S. Securities and Exchange Commission’s former head of internet enforcement says former U.S. President Donald Trump’s anti-crypto stance may change dramatically . He further predicted that if a Republican is elected U.S. president, a Republican-appointed SEC chair would, at a minimum, approve a bitcoin exchange-traded fund (ETF) and “may even slow down considerably SEC crypto-related enforcement efforts.” Former SEC Official on Donald Trump’s Anti-Crypto Stance Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark has argued that former President Donald Trump could “dramatically” change his position on cryptocurrencies. Stark is currently president of cybersecurity firm John Reed Stark Consulting. He founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years. Trump is running for president in 2024. “Former President Trump is on record as being strongly anti-bitcoin and anti-c

Rich Dad Poor Dad author Robert Kiyosaki has predicted that bitcoin will “become priceless” when the Federal Reserve launches a central bank digital currency (CBDC). He warned that privacy will be destroyed, emphasizing that “Big Brother will be watching.” The famous author urged investors to start accumulating bitcoin now “before it’s too late.” Robert Kiyosaki’s CBDC Warning, Urges Investors to Start Saving Bitcoin Now The author of Rich Dad Poor Dad, Robert Kiyosaki, has warned about the risks of the Fed launching a central bank digital currency (CBDC). 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 explained in a post on social media platform X Friday that the Federal Reserve’s central bank digital currency is coming and when that happens, privacy will be gone. “B

In the wake of the U.S. Securities and Exchange Commission’s (SEC) call to depose Terraform Labs creator and former CEO Do Kwon, the SEC unveiled an alleged exchange between him and his former associate Daniel Shin. The ex-Terra boss reportedly claimed he could fabricate transactions on the Terra blockchain to render them authentic and accrue fees, further penning that he could strive to render the doctored transactions “indiscernible.” ‘I Can Just Create Fake Transactions’ — SEC Publishes Leaked Chat Between Kwon and Shin Court filings submitted by the SEC show a purported conversation between the Terraform Labs founder and former CEO Do Kwon and his business partner the former CEO of Chai, Daniel Shin . “Kwon perpetrated a scheme to fabricate Chai transactions on the Terraform blockchain to make it appear more active, all to dupe investors,” the SEC filing claims. The U.S. securities regulator added: For instance, in an extensive private chat between Kwon and Daniel Shin2 duri

The Hashgraph Association and Dar Blockchain recently said they will be working “to nurture projects, facilitate growth, and profoundly shape the Middle East and North Africa (MENA) technology landscape.” The two entities said they hope to achieve the set objectives via meetups, hackathons, and university groups. Shaping the MENA Region Technology Landscape The Hashgraph Association, a non-profit organisation promoting the use and adoption of the Hedera network, recently said it had entered into a partnership with the Tunisia-based Dar Blockchain. Through this collaboration, Hashgraph Association and Dar Blockchain said they hope “to nurture projects, facilitate growth, and profoundly shape the Middle East and North Africa (MENA) technology landscape.” According to a press statement, the two entities hope to achieve the set objective via meetups, hackathons, and university groups. In addition, the two groups said they will be publishing a monthly podcast. Commenting on their orga

The city of Buenos Aires has announced that it will roll out a blockchain-based, privacy-focused digital ID wallet starting in October. The Quarkid project, previously known as Tangoid, will allow its users to download a “self-sovereign” wallet to hold their birth and marriage certificates, with more digital documents to be added later this year. Buenos Aires to Roll Out Blockchain-Based ID Program The City of Buenos Aires government announced the deployment of a digital, blockchain-based “self-sovereign” ID project for its citizens. The wallet, called Quarkid, formerly known as Tangoid and scheduled to be operating by last January, will supposedly allow its users to exert full ownership of their data, granting only trusted and permissioned third parties access. The Quarkid wallet will use Zksync Era, a zero-knowledge (ZK) Ethereum L2 (Layer 2) protocol, as its base, allowing the use of this kind of mathematical proof for privacy and confidentiality purposes. Quarkid was co-creat

A calendar has been set for the upcoming trial of United States v. Bankman-Fried, with jury selection beginning October 3, 2023. The FTX founder, Sam Bankman-Fried, was denied temporary release from prison but will be allowed to use an “air-gapped,” internet-disabled laptop for note-taking in the courtroom. In the coming month and a half, the public will likely hear testimonies from FTX senior personnel such as Zixiao (Gary) Wang, Caroline Ellison, Nishad Singh, and Ryan Salame. The Bankman-Fried Trial Kickoff Next week, the co-founder and former FTX CEO Sam Bankman-Fried is set to face trial following charges leveled by the U.S. government. The litany of accusations against him includes wire fraud conspiracy, wire fraud, commodities fraud conspiracy, securities fraud conspiracy, and money laundering. The charges are associated with FTX’s collapse after the once-$32 billion crypto empire failed in November 2022. Bankman-Fried is the only one named in the lawsuit and on September 2