Bitcoin News and Finance: What You Need to Know

Mastercard is collaborating with Feedzai to “increase crypto fraud protection for hundreds of millions of consumers.” In pairing the technologies offered by the two companies, “Feedzai’s customers, who collectively protect over 900 million consumers globally, will now be able to identify and prevent transactions involving fraudulent crypto exchanges before they occur,” Mastercard explained. Mastercard Expanding Crypto Fraud Protection Mastercard announced Monday that the company is collaborating with Feedzai, a leading provider of financial crime and risk management solutions, to “increase crypto fraud protection for hundreds of millions of consumers.” The payment giant detailed that Feedzai will “leverage Mastercard’s Ciphertrace crypto intelligence solutions to reduce the risk of account-to-account fraud flowing into crypto exchanges.” This integration will involve integrating Mastercard’s Ciphertrace Armada into Feedzai’s Riskops platform, which analyzes transaction data total

The U.S. Securities and Exchange Commission (SEC) has identified 16 crypto tokens as securities in its lawsuit against cryptocurrency exchange Kraken. Some of the alleged crypto securities were the same as those highlighted in the SEC’s lawsuits against Coinbase and Binance. Kraken’s CEO stressed: “We strongly disagree with the SEC claims, stand firm in our view that we do not list securities, and plan to vigorously defend our position.” SEC Labels 16 Crypto Tokens as Securities In its lawsuit against crypto exchange Kraken filed on Monday, the U.S. Securities and Exchange Commission (SEC) named 16 crypto tokens as securities. The regulator’s complaint states: Kraken currently makes available for trading crypto assets that have been the subject of prior SEC enforcement actions based upon their status as crypto asset securities, including crypto assets trading under the symbols ADA , AXS, ALGO, ATOM , CHZ, COTI, DASH , FIL, FLOW, ICP, MANA, MATIC, NEAR, OMG, SAND, and SOL. The r

Rich Dad Poor Dad author Robert Kiyosaki has urged investors to prepare for hyperinflation, emphasizing that bitcoin is “your best protection.” He perceives the cryptocurrency as “people’s money,” the value of which cannot be controlled by governments. Robert Kiyosaki: Bitcoin Is Your Best Protection The author of Rich Dad Poor Dad, Robert Kiyosaki, is advising investors to prepare for hyperinflation, emphasizing that he views bitcoin as the best protection. 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. In a post on social media platform X on Sunday, Kiyosaki shared that he was “just in Germany to celebrate 100 years since 1923, the hyperinflation that brought Adolf Hitler to power.” He added: “Are we about to celebrate hyperinflation too? I hope not. Yet our government leade

A recent analysis by 0xB10C, a developer and onchain analyst, has uncovered intriguing findings in the Bitcoin network. The study, which focuses on the mining pools’ transaction selection processes, revealed that certain transactions from U.S. Treasury-sanctioned addresses were missing from blocks. This insight raises questions about the practices of mining pools and their influence on the network’s censorship-resistant qualities. Study Highlights Potential Censorship in Bitcoin Network The investigation by 0xB10C , detailed in a comprehensive report , scrutinized the activity of today’s most prominent bitcoin mining pools. It focused on six specific transactions linked to addresses sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). This analysis is part of a broader project, the developer’s miningpool-observer , aimed at detecting instances where bitcoin mining pools may not include transactions that they could be mining. The findings sugg

The Monetary Authority of Singapore’s managing director has outlined the central bank’s plan to ensure seamless financial transactions across digital asset networks. “Currently, there is a proliferation of digital asset networks,” the head of Singapore’s central bank said. “We cannot wish these dynamics away and force consolidation of all financial transactions onto a single network. It is more feasible to work towards making these diverse networks interoperable.” Singapore’s Central Bank Discusses Digital Asset Plans Ravi Menon, the managing director of Singapore’s central bank, the Monetary Authority of Singapore (MAS), discussed digital assets at Singapore Fintech Festival last week. “Digital assets have two critical features that can fundamentally transform the nature of financial transactions,” he began. The first is tokenization allows financial assets to be exchanged without intermediaries, which “eliminates settlement risk, duplicative reconciliation, and the need for larg

Cryptocurrency exchange Binance is reportedly facing a $4 billion demand from the U.S. Department of Justice (DOJ) in order to settle a criminal case. The Justice Department has been investigating Binance on allegations related to money laundering, bank fraud, and sanctions violations. US DOJ Wants $4 Billion From Binance The U.S. Department of Justice (DOJ) is reportedly seeking more than $4 billion from Binance Holdings Ltd. as part of a proposed settlement to conclude its multiyear investigation into the crypto exchange and its CEO Changpeng Zhao (CZ), Bloomberg reported Monday, citing people familiar with the matter. The Justice Department has been investigating Binance on allegations related to money laundering, bank fraud, and sanctions violations, the news outlet conveyed, adding that negotiations between Binance and the DOJ include CZ potentially facing criminal charges in the U.S. According to the publication, an announcement could come as soon as the end of this month an

Tether has announced the “largest-ever freeze of USDT in history.” In collaboration with crypto exchange Okx, Tether froze $225 million in USDT following an investigation by the U.S. Department of Justice (DOJ). The tokens were allegedly linked to an international human trafficking syndicate in Southeast Asia responsible for a global “pig butchering” crypto scam. $225M in USDT Frozen by Tether Leading stablecoin issuer Tether and crypto exchange Okx announced Monday that they have collaborated with the U.S. Department of Justice (DOJ) “in an investigation that led to Tether proactively and voluntarily freezing approximately 225 million in USDT tokens in external self-custodied wallets.” The wallets are “linked to an international human trafficking syndicate in Southeast Asia responsible for a global ‘pig butchering’ romance scam,” the crypto companies detailed, adding: The joint investigation was conducted using tools from blockchain analysis firm Chainalysis, and the action b

On Sunday, November 19, 2023, Bitcoin achieved a historic milestone, registering the highest number of daily transactions ever confirmed within a 24-hour span. A significant 710,579 transfers were confirmed by miners that day, including a significant portion of 475,249 Ordinal inscriptions. Bitcoin Hits Lifetime Peak: 710K+ Transactions in 24 Hours This recent weekend marked a record-breaking moment for the Bitcoin network. Operating at a robust hashrate of 480 exahash per second (EH/s), the network verified an unprecedented total of 710,579 transactions – a new peak in Bitcoin’s storied history. This surpassed the previous high set on September 15, 2023, when bitcoin ( BTC ) miners verified 703,692 transactions . Furthermore, on November 12, 2023, the daily transaction volume ( 703,327 ) nearly eclipsed the former record, now ranking as the third highest in history. All of these days featured unparalleled levels of inscription-based transactions, with the most recent record estab

According to Kronos Research, the crypto trading firm lost assets worth $26 million on Nov. 18 after an unknown party illegally accessed its application programming interface (API). Kronos Research claimed the losses associated with the unauthorized API access do not constitute “a significant portion” of its equity. Breach Does Not Affect Kronos’ Financial Standing On Nov. 18, Kronos Research, a crypto trading firm, revealed that an unknown party had illegally accessed some of its application programming interface (API) prompting it to pause all trading. Kronos Research claimed in a statement shared via X (formerly Twitter) that the value of the stolen funds does not constitute “a significant portion of our equity.” While the crypto firm did not initially disclose the value of the stolen assets, Zachxbt — an online crypto theft investigator — suggested that the cybercriminals had siphoned more than 12,800 ether ( ETH ) worth more than $20.3 million. However, in a later update a

Argentina has welcomed Javier Milei as its newly elected president, with the libertarian candidate achieving a majority in the popular vote, surpassing his opponent Sergio Massa. Milei, who identifies as an anarcho-capitalist, has expressed his intention to dismantle the political “caste” which he accuses of failing the nation, boldly asserting earlier this year that the state “destroys wealth.” Milei Triumphs in Argentina’s Presidential Race At 53, the libertarian economist Javier Milei has claimed victory over the left-leaning finance minister Sergio Massa to become Argentina’s president. In a recent interview with Tucker Carlson, Milei, an advocate of free-market capitalism, attributed Argentina’s economic challenges to its century of socialist policies. The election on Sunday evening was a decisive run-off, following a tightly contested initial vote where Massa had a narrow lead. Massa conceded defeat to Milei on Sunday before the final vote tally was announced. “The result

Since October 18, 2023, the aggregate value locked in decentralized finance (defi) has witnessed a substantial augmentation of $9.3 billion within a one-month span. Among the leading ten defi protocols, Rocket Pool, known for its liquid staking services, achieved the most notable growth, soaring by 26.94% during the preceding 30 days. Defi TVL Swells by More Than 25% Since October 18 Approximately 32 days ago, the total value locked (TVL) in decentralized finance (defi) stood at about $36.38 billion, escalating by $9.3 billion to the present figure of $45.68 billion . This reflects a notable growth of approximately 25.56% in the past month. Data reveals that each of the top ten defi protocols by TVL experienced growth in the last month, with Rocket Pool leading the pack by surging 26.94%. As of November 19, 2023, Rocket Pool’s TVL surpasses $2 billion, with over 1.02 million ether committed to its liquid staking platform. At the forefront of the defi domain this weekend is Lido, w

On Sunday, November 19, 2023, Bitcoin’s hashrate maintained a steady pace at 468 exahash per second (EH/s), surpassing the intended ten-minute block interval average. The most recent block was processed in just 7 minutes and 37 seconds. Present observations suggest that if this trend in block intervals persists, the network could anticipate a 3% increase in difficulty, marking the seventh consecutive rise since September 19. Efficient Mining Tech and Higher Prices Fuel Bitcoin’s Rapid Hashrate Growth in 2023 As of block height 817,532, a significant 93.08% of all bitcoins destined to be in circulation have already been mined, amounting to roughly 19,546,861.78 BTC at the time of writing. Block times have been consistently shorter than the target average of ten minutes, ranging between 9 minutes and 43 seconds to 7 minutes and 37 seconds , with a median average of 9 minutes and 40 seconds over the last day. Despite the previous difficulty adjustment, Bitcoin’s hashrate continues t

U.S. presidential candidate Vivek Ramaswamy says the government is “threatened by the existence of Bitcoin,” emphasizing that if the cryptocurrency becomes more popular, it would create “a threat to the incumbent status of the U.S. Federal Reserve itself.” He promised to ensure the government is “staying the heck out of the business of those who are innovating” if he’s elected president. Vivek Ramaswamy: Government Threatened by the Existence of Bitcoin U.S. presidential candidate Vivek Ramaswamy discussed a number of topics, including Bitcoin, in an interview with Natalie Brunell, published this week. He also recently revealed his crypto policy framework. “My view on the promise of Bitcoin … is an opt-out from the broken financial architecture created by the U.S. Federal Reserve System,” he began. While emphasizing that he wants to “fight for the dollar to remain the reserve currency of the world,” Ramaswamy stressed that there are two ways of doing it. “One is if you are really

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler was slammed by the crypto community for stating: “We are not prosecutors of honest business, nor defenders of crookedness.” Many crypto advocates pushed back against Gensler, arguing that the SEC under his leadership has taken legal action against honest businesses, like Ripple and LBRY, while protecting crooks like former FTX CEO Sam Bankman-Fried (SBF). Crypto Community Outraged at Gensler’s Remarks The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, drew heavy criticism from the crypto community on Thursday when he stated on social media platform X that the securities regulator does not prosecute honest businesses and does not defend individuals engaged in fraudulent activities. Gensler wrote: As Joseph P. Kennedy, the first SEC Chair, once said: ‘We are not prosecutors of honest business, nor defenders of crookedness. We are partners of honest business & prosecutors of dishones

The Securities and Exchange Commission (SEC) has reportedly provided specific guidance to exchanges seeking to list and trade spot bitcoin exchange-traded funds (ETFs) on what they should do next. “This is real progress,” said one crypto exchange insider. “The cash vs in-kind debate looks to be finding clarity.” SEC’s Advice Regarding Spot Bitcoin ETFs Optimism for spot bitcoin exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission (SEC) surged again on Friday after a report of the SEC engaging with exchanges to provide guidance on spot bitcoin ETF applications emerged. Bloomberg ETF analyst Eric Balchunas shared on social media platform X that he is hearing chatter suggesting that the SEC’s Division of Trading and Markets engaged in discussions with exchanges this week, advising them to use the cash creation method, instead of the in-kind method, for spot bitcoin ETFs. Moreover, the securities regulator reportedly asked exchanges to file amendments to

Recent data reveals the crypto economy has experienced notable growth over the past month, with a substantial portion of its trading activity originating from South Korea. As an illustration, on Saturday, November 18, 2023, the Korean won accounted for 3.53% of all bitcoin ( BTC ) trades in the previous 24 hours. Bitcoin Price Soars $1,300 Above Global Norm in South Korea Cryptocompare.com’s data indicates that, on Saturday, bitcoin ( BTC ) trades involving the Korean won constituted 3.53% of the total. Ethereum ( ETH ) trades paired with the won represented about 1.65% , and a significant 8.78% of solana (SOL) trades were also conducted with the won. South Korea’s trading volumes have emerged as a significant force, with Upbit alone processing $2.62 billion in trades in the last 24 hours, making it the 11th largest crypto exchange by volume this weekend. Dogecoin trades with the Korean won comprised 3.06%, while the won also made up 19.77% of avalanche trades on Saturday. South

Presidential candidate and Economy Minister Sergio Massa has proposed to develop a system to allow citizens to control and monitor state finance using blockchain tech in Argentina. At a recent presidential campaign rally, he declared that Argentines “should be able to control state accounts with their mobile phones,” interacting with the national budget. Sergio Massa Discusses Blockchain Monitoring for State Accounts in Argentina Sergio Massa, a presidential candidate and the Economy Minister of Argentina, proposed implementing a blockchain-based system to monitor state accounts and the execution of the national budget. Massa declared that this system would benefit the citizens and the country, increasing the transparency of the expenses and incomes by making this data available to the population. At a rally, Massa stated : We live in the age of communication. I want every Argentine to be able to control the state accounts online from their cell phone. So each of the Argentines h

Following the announcement by Openai, a firm dedicated to artificial intelligence (AI), that Sam Altman is stepping down, Worldcoin, a crypto venture backed by Altman, experienced a 13.5% decline in its native asset WLD compared to the U.S. dollar. Openai, in an open letter addressed to the public, revealed that its board has reached a consensus that it “no longer has confidence in his ability to continue leading Openai.” Sam Altman Departs Openai, Triggering Worldcoin Slide On the day of Friday, November 17, 2023, Openai, known for developing Chatgpt, declared that its CEO, Sam Altman , is exiting the organization. Mira Murati, the CTO, has been named the interim CEO to guide Openai during this transition. The letter articulates Openai’s gratefulness for Altman’s “many contributions” to the inception and expansion of the company. Nonetheless, it also underscores the AI firm’s board’s loss of “confidence” in his ongoing leadership at Openai. The company’s board stated: Mr. Altma

International Monetary Fund (IMF) Managing Director Kristalina Georgieva says central bank digital currencies (CBDCs) can replace cash. She has urged the public sector to “keep preparing to deploy CBDCs and related payment platforms,” emphasizing that these platforms “should be designed from the start to facilitate cross-border payments, including with CBDCs.” IMF Chief Encourages CBDC Adoption Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), discussed central bank digital currencies (CBDCs) Wednesday at this year’s Singapore Fintech Festival. The IMF also released a CBDC handbook as a reference guide for policymakers and experts at central banks and ministries of finance around the world. The IMF chief detailed: CBDCs can replace cash which is costly to distribute in island economies. They can offer resilience in more advanced economies. And they can improve financial inclusion where few hold bank accounts. “CBDCs would offer a safe and lo

The U.S. cryptocurrency exchange Coinbase was recently hit with a fine exceeding $11,000 by a Russian court. The fine stems from the crypto exchange’s refusal to comply with a law that requires foreign companies to localize data of their respective Russian users or customers. Localizing Databases of Russian Users A court in Russia recently imposed a fine of just over $11,000 on the U.S. cryptocurrency exchange Coinbase. The court said the fine relates to Coinbase’s alleged refusal to localize data on Russian nationals who use the crypto exchange platform. According to a report from one online media outlet, Coinbase’s non-adherence with Russia’s data regulations means the crypto exchange is guilty of an administrative offense under Part 8 of Art. 13.11 of the Code of Administrative Offenses of the Russian Federation. As noted in the report, AIDA International was similarly fined for refusing to observe the country’s new data regulations. Since the end of May, Russia’s Federal Serv

Global investment bank JPMorgan expects its digital currency, JPM coin, to “start taking off.” The bank says JPM coin could handle $10 billion in daily transactions in the next year or two, according to its global head of financial institution payments. He emphasized that JPM coin transactions should grow at least five to tenfold. JPMorgan’s JPM Coin Poised to Handle $10B Daily Global investment bank JPMorgan’s global head of financial institution payments, Umar Farooq, discussed the bank’s own digital currency, JPM coin, on Wednesday in an interview with Bloomberg on the sidelines of the Singapore Fintech Festival. Farooq expressed his optimism for JPM coin transactions to grow at least five to tenfold, emphasizing the potential for daily transactions with JPM coin to reach $10 billion within the next year or two. He opined: We really think it’s going to start taking off. JPMorgan described JPM coin as “a permissioned system that serves as a payment rail and deposit account l

Fifty-eight U.S. lawmakers have probed President Joe Biden and Treasury Secretary Janet Yellen regarding Hamas’ digital asset operations, as well as whether the U.S. has had success in seizing illicit cryptocurrencies. Despite reports that terrorist groups have raised millions in crypto, the lawmakers stressed: “It remains unclear how much, if any, of the publicly identified digital assets are accessible to or remains in the possession of Hamas.” Lawmakers Want Answers From Biden, Yellen Fifty-eight U.S. lawmakers sent a bipartisan letter to President Joe Biden and Treasury Secretary Janet Yellen on Wednesday seeking answers regarding Hamas’ crypto operations, including the group’s “ability to utilize digital assets to finance its operations.” The fact-finding letter aims to help Congress gain a better understanding of Hamas’ use of cryptocurrencies. Noting that Congress needs “greater context around Hamas’s operations,” the lawmakers, including U.S. Representatives Tom Emmer (R-M