Bitcoin News and Finance: What You Need to Know

Worldcoin, the biometric ID and digital wallet project, will now allow Minecraft server integration through one of its apps. A plugin called Luckperms, a Minecraft server mod, lets server admins tackle the bot problem by only giving access to the server to World ID-verified users. Minecraft to Integrate Worldcoin for ID Verification Purposes Worldcoin, the iris-scanning ID and digital wallet program, can now be integrated with Minecraft, the award-winning Microsoft-owned game, through one of its apps. Worldcoin’s inclusion in the game is focused on dealing with the “griefing” problem, which happens when a bot user joins a server to ruin the gaming experience. Through Luckperms, a Worldcoin app, server admins can leverage World ID to establish a set of permissible actions that only verified users can perform, leaving unverified users unable to access these features until they verify with World ID. The feature would be available by installing a plugin in the Minecraft server, and us...

The U.S. Securities and Exchange Commission (SEC) has reportedly set a deadline of Dec. 29 for spot bitcoin ETF applicants to finalize their filing amendments. According to reports, the SEC has told spot bitcoin ETF issuers that applications that are fully updated and filed by this Friday will be considered in the first wave of its spot bitcoin ETF decision. SEC’s Spot Bitcoin ETF Deadline The U.S. Securities and Exchange Commission (SEC) reportedly instructed spot bitcoin exchange-traded fund (ETF) applicants during their meetings last week to finalize the amendments to their registration statements (S-1s) by Dec. 29 to be considered in the first wave of spot bitcoin ETF decision. Fox Business journalist Eleanor Terrett shared on social media platform X on Dec. 24: Confirming the date for final amendments to all S-1s by Friday the 29th. The SEC has told issuers that applications that are fully finished and filed by Friday will be considered in the first wave. Anyone who is not...

The famous author of Rich Dad Poor Dad, Robert Kiyosaki, has shared how he made most of his money. He stressed that the future of stock and bond markets will depend on startups in resources, not Silicon Valley technology startups, predicting that resources will be “the coming boom in the investment world.” How Robert Kiyosaki Made Most of His Money Rich Dad Poor Dad author Robert Kiyosaki has revealed on social media platform X how he made most of his money. 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. The renowned author shared on Dec. 24 that the Vancouver Resource Investment Conference (VRIC) is coming up on Jan. 20-21, where he will be one of the keynote speakers, as per the event’s website. Explaining why he believes this event is the “most important investor conference...

Three days ago, on Dec. 23, 2023, Bitcoin marked its 27th and final difficulty adjustment for the year. This year witnessed 27 shifts in epochs, with the most substantial one on Jan. 15 at block 772,128, seeing a surge in network difficulty by 10.26%. Bitcoin’s Year: 20 Ups, 7 Downs Total 74% Difficulty Surge By Jan. 4, 2024, it’s anticipated that Bitcoin will undergo another uptick in mining difficulty . This metric, changing every 2,016 blocks or roughly two weeks, maintains the average interval between blocks at approximately 10 minutes. It does so regardless of the fluctuating mining power within the network. This mechanism stabilizes the issuance rate of new bitcoins, enhancing network security by making block discoveries more challenging as the hashrate either increases or decreases. Throughout 2023, the network experienced a total of 27 difficulty changes , comprising 20 increases and seven decreases. The most notable hike was on Jan. 15, rocketing by 10.26%. Conversely, th...

The Chinese State Administration of Foreign Exchange (SAFE) has cracked down on an underground bank that used crypto to offer illegal exchange services. The operation, which had over 1,000 bank accounts and a presence in 17 provinces, moved over 15.8 billion yuan ($2.2 billion) to purchase crypto on exchanges overseas and provide yuan exchanging services. Chinese State Administration of Foreign Exchange Discovers Ring Using Crypto to Circumvent Exchange Controls The Chinese government has cracked down on an underground bank that used crypto to provide yuan exchange services to Chinese nationals. According to a post published in Wechat by the State Administration of Foreign Exchange (SAFE), the Qingdao police managed to identify more than 1,000 accounts belonging to a Chinese national identified as Jin, that served as funneling accounts for the exchange business of 15.8 billion yuan ($2.2 billion). The exchange business had a presence in 17 provinces of the country, with more than ...

U.S. Congressman Tom Emmer has highlighted various crypto bills that passed out of the House Committee on Financial Services this year. Among them is his appropriations amendment barring the U.S. Securities and Exchange Commission (SEC) “from using taxpayer dollars on its abusive crypto enforcement tirade until Congress passes legislation giving the SEC jurisdiction over this industry.” Crypto Bills Greenlighted by House Financial Services Committee in 2023 U.S. Congressman Tom Emmer (R-MN) summarized the House Financial Services Committee’s achievements in 2023 on social media platform X last week. He emphasized that the committee “has moved more legislation in 2023 to boost our capital markets, welcome innovation, and hold unchecked regulators accountable than in previous years.” The lawmaker proceeded to highlight various bills related to crypto legislation that were greenlighted by the committee during the year. “In July, we passed the Blockchain Regulatory Certainty Act out o...

Venture capitalist Tim Draper has doubled down on his $250,000 bitcoin price forecast. “I would say that my number $250,000 will probably come pretty soon,” he emphasized, predicting that if the price of bitcoin hits $250,000, “it’ll go way past it.” Tim Draper’s $250K Bitcoin Prediction Venture capitalist Tim Draper shared his bitcoin price prediction for 2024 in an interview with Coin Bureau last week. He explained that when the price of BTC was $4,000, he predicted that it would climb to $250,000 in four years. “When I predicted that, what I didn’t expect was how fearful and just old thinking the U.S. would be. I think with a receptive U.S., we would be having conversations like the ones I have with the people from El Salvador,” he shared. El Salvador was the first country to adopt BTC as legal tender alongside the U.S. dollar. Emphasizing that he still believes BTC will reach $250K in the near future, he opined: “I think all that is is a delay. I would call it the fear del...

Nasdaq-listed crypto exchange Coinbase has responded to U.S. Senator Elizabeth Warren’s accusations that it hires national security veterans to oppose her legislation . “Your claim that Coinbase is attempting to undermine bipartisan legislation related to cryptocurrency is simply wrong. Your accusations are not only unfounded but a willful misrepresentation of our intentions and efforts,” the crypto firm told Warren. Coinbase’s Letter to Elizabeth Warren Coinbase (Nasdaq: COIN) fired back at U.S. Senator Elizabeth Warren on Friday, refuting her claim that the cryptocurrency exchange hired national security veterans to combat bipartisan legislation. In its letter dated Dec. 22 to Senator Warren, Coinbase wrote: “We received your letter dated December 18, 2023, concerning our approach to recruiting top national security experts in our fight against terrorist financing.” Besides Coinbase, Senator Warren also sent a similar letter to Coin Center Executive Director Jerry Brito and Bloc...

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador passes a Bitcoin donation citizenship law, Argentina will allow the settlement of crypto-denominated contracts, and President Milei moves to deregulate Argentina. El Salvador Passes Bitcoin Citizenship Law The government of El Salvador has passed a law that allows foreign investors to become Salvadoran citizens. The project, approved with Bukele’s Nuevas Ideas party majority in the Congress, offers foreigners the possibility of sidestepping the ordinary requirements to receive Salvadoran citizenship by making Bitcoin donations to social and economic programs in the country, without mentioning a determined number. Before, the only way of becoming a Salvadoran citizen involved having five years of residence for immigrants from a non-Spanish-speaking country. On December 8, the country announced a program called “Adopting El Salvador,” wh...

Arthur Hayes, former CEO of Bitmex and cryptocurrency market analyst, pondered about the success of an upcoming spot bitcoin ETF and its effect on the future of bitcoin. Hayes states that the popularity of these ETF derivatives might concentrate the custody of all the bitcoin in a few hands that won’t move it, forcing miners to capitulate due to a lack of activity in the blockchain. Arthur Hayes Believes ETFs Might Cause the Demise of Bitcoin Former Bitmex CEO Arthur Hayes believes that the success of an upcoming spot bitcoin ETF might endanger the existence of the Bitcoin network. In his most recent blog post, “Expression,” Hayes presents a hypothetical situation in which bitcoin is all in the hands of a few financial firms, like Blackrock. If this happens, Hayes anticipates this will destroy bitcoin as a store of value, given that it is different from all of the assets traded in financial markets until now. Hayes argued : Bitcoin is the first monetary asset in human history t...

The Epic Games Store, the digital distribution storefront owned by Epic Games, has made changes that will allow some blockchain games to be listed on its platform again. Epic Games has announced that it will now admit games rated as “Adults Only” due to having non-fungible tokens (NFT) and blockchain elements. Epic Games Stores Change Guidelines to Readmit Blockchain Games The Epic Games Store has decided to open its doors for blockchain and Web3 games again. The digital storefront owned by the makers of Fortnite has decided to change its policies to readmit this kind of game into its platform. According to the ESRB, some blockchain games are receiving the “Adults Only”(AO) rating due to the possibility of presenting the opportunity of exchanging the digital currency won for “real money.” The store excluded all games rated as AO by the Entertainment Software Rating Board (ESRB) from its platform, having a blanket ban on this kind of product. However, it recently announced a chang...

While no formal announcement has been made, murmurs of a potential Bitcoin fork are emerging amidst discussions on block space, Ordinal inscriptions, and escalating fees. Such speculation has led some to believe that a significant Bitcoin fork might occur in 2024. Talks of a Bitcoin Fork Appear as Tensions Rise Discussions about a potential Bitcoin fork are surfacing on social media platform X, sparked by ongoing debates about the trend of Ordinal inscriptions, the block space these inscriptions occupy, and the increasing transaction fees of BTC . As of Dec. 23, 2023, a backlog of 291,660 unconfirmed bitcoin transactions exists. The current cost for transferring bitcoin stands at 81 satoshis per virtual byte (sat/vB) or $4.97 per transaction. Comparatively, fees were much higher on Dec. 16, 2023, when the rate was 674 sat/vB, equating to $40 per transfer . Moreover, certain Bitcoin enthusiasts scorn Ordinal inscriptions, labeling them as “spam,” an “attack,” a “scam,” and fundam...

The U.S. Securities and Exchange Commission’s former head of internet enforcement, a crypto skeptic, now believes that the SEC is likely to approve a spot bitcoin exchange-traded fund (ETF). He further expressed that “the legacy of SEC Chair Gary Gensler could be the approval of a spot bitcoin ETF,” emphasizing: “That is a mammoth victory for big crypto.” Stark Now Expects SEC to Approve Spot Bitcoin ETF Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark now believes that the securities regulator is likely to approve a spot bitcoin exchange-traded fund (ETF). 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. This week, the SEC reportedly made “rare” calls to spot bitcoin ETF filers regarding their applications. Fox Business journalist Eleanor Terrett shared on social media platform X Th...

Blackrock has revealed a plan to seed its spot bitcoin exchange-traded fund (ETF) with $10 million on Jan. 3. The world’s largest asset manager has engaged in six recent meetings with the U.S. Securities and Exchange Commission (SEC) to address its filing. In response to the SEC’s concerns, the firm has opted for the cash creation model, departing from its initial preference for the in-kind model. Blackrock Amends Spot Bitcoin ETF Filing After 6 Meetings With SEC Blackrock, the world’s largest asset manager, filed an amendment to its registration statement (S-1) for a spot bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) on Friday. The firm disclosed that it plans to seed Ishares Bitcoin Trust with $10 million on Jan. 3, 2024. The amendment details that the seed capital investor, an affiliate of the trust’s sponsor, purchased seed shares worth $100,000 for the spot bitcoin ETF on Oct. 27, subject to conditions. The filing also outlines the ...

On Saturday, the smart contract platform Solana’s token, solana (SOL), eclipsed the $100 threshold, achieving a weekly growth exceeding 36% against the U.S. dollar. Throughout the year, investor sentiment toward solana (SOL) has remained overwhelmingly positive, intensifying following the conviction of ex-FTX chief Sam Bankman-Fried on multiple charges on Nov. 2, 2023. Solana’s Market Triumph In the previous year, solana (SOL) has escalated an impressive 764% relative to the U.S. dollar, breaching the $100 milestone on Dec. 23, 2023. This price point for SOL has been unprecedented since April 2022, and the cryptocurrency has overtaken BNB to become the fourth largest by market capitalization. Currently priced at $102 per coin, SOL boasts a market value of approximately $43.58 billion. The coin’s daily trading fluctuation on Saturday ranged from $93 to $104. Over the last month, SOL has seen an increase exceeding 80%, with a near 38% rise in the past fortnight alone. SOL is up 6.6...

A petition to stop a proposed crypto ban in the U.S. has gained traction. The Chamber of Digital Commerce explained that the Digital Asset Anti Money Laundering Act, introduced by Senator Elizabeth Warren and currently supported by 19 U.S. senators, is “a crypto ban” that “threatens to stifle innovation, harm job prospects, and undermine the U.S. economy in a sector that is burgeoning with potential.” Petition to Stop Proposed Crypto Ban in US The “Stop The Crypto Ban” petition , initiated on Change.org by the Chamber of Digital Commerce on Dec. 16, has garnered nearly 10,000 signatures at the time of writing. “As concerned citizens of the United States, we need you to sign this petition to stop a proposed ban on cryptocurrency,” the leading U.S. blockchain and digital asset trade association wrote. “By signing this pledge, you agree to not support any cosponsor of the Digital Asset Anti-Money Laundering Act in any future election campaign.” The chamber added: The Digital Asset A...

Galaxy Digital CEO Mike Novogratz expects the U.S. Securities and Exchange Commission (SEC) to approve a spot bitcoin exchange-traded fund (ETF) by Jan. 10 next year. Subsequently, he foresees the cryptocurrency reclaiming its all-time high of $69,000 and wouldn’t be surprised if it surpasses that price level. The executive also predicts progress in U.S. crypto regulation, expecting changes in leadership at the Treasury Department and the SEC after the upcoming presidential election. Mike Novogratz’s Crypto Predictions The CEO of Galaxy Digital, Mike Novogratz, discussed his perspectives on the crypto market and his expectations regarding the approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) in an interview with CNBC earlier this week. Regarding spot bitcoin ETF approvals, the Galaxy Digital boss said: We are gonna get this ETF before January 10th. Novogratz added that spot bitcoin ETFs will likely take six to eight weeks...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has issued warnings regarding cryptocurrency investments. “There is a lot of noncompliance in the crypto space,” he stressed, emphasizing that it “undermines confidence when so many people have been hurt and all they can do is stand in line in the bankruptcy court.” Gensler’s warnings came as the market expects imminent approvals of spot bitcoin exchange-traded funds (ETFs). Gary Gensler’s Crypto Warnings The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, issued crypto warnings on social media platform X Thursday. The SEC chief wrote: There is a lot of noncompliance in the crypto space. It undermines confidence when so many people have been hurt and all they can do is stand in line in the bankruptcy court. Further, this can make it hard for the good faith actors to compete. His post is accompanied by a video of him on CNBC last week, elaborating on the prevalent noncompliance withi...

The U.S. Securities and Exchange Commission (SEC) has reportedly made “rare” calls to spot bitcoin exchange-traded fund (ETF) issuers and exchanges regarding their applications. A Bloomberg ETF analyst views this development as a “good sign” for the expected approvals by Jan. 10. The securities regulator has insisted on the cash creation model, rather than the in-kind model, for spot bitcoin ETFs. SEC’s ‘Rare’ Calls Regarding Spot Bitcoin ETFs The U.S. Securities and Exchange Commission (SEC) actively held meetings with spot bitcoin exchange-traded fund (ETF) applicants this week. Blackrock, the world’s largest asset manager, and several other spot bitcoin ETF applicants met with the securities watchdog on Thursday, according to filings with the SEC. Moreover, Fox Business Network’s senior correspondent, Charles Gasparino, shared on social media platform X Thursday that the SEC is “having what’s described as a rare joint conference call with prospective spot BTC ETF filers, as its...

As 2024 approaches, Bitfinex market strategists have expressed optimism for bitcoin and crypto assets in general, acknowledging their resilience amid regulatory and reputational challenges. The crypto market, according to Bitfinex analysts, is oscillating between bouts of greed and regulation and is set to witness an upward trajectory with market capitalization possibly doubling. Bitfinex Analysts Forsee a Bullish Trajectory for Bitcoin and Crypto Assets Amidst Macro Stability The year 2024 is eyed with optimism, with Bitfinex analysts suggesting a potential market cap for the crypto economy increasing up to $3.2 trillion amidst historical pullbacks and market oscillations. The latest Bitfinex Alpha report says a shift towards “extreme greed” in the crypto fear and greed index suggests mid-bull market highs for bitcoin ( BTC ), indicating a vibrant market phase. Bitfinex researchers explain that institutional investors’ rising interest in crypto assets, particularly bitcoin, is pi...

The Shanghai branch of the Bank of China has completed the first settlement of precious metals using the digital yuan. The transaction, finalized on December 19, allowed the Shanghai Gold Exchange to close a $14 million precious metal trade after receiving the funds overseas, according to local media reports. Bank of China Completes First Cross Borders Precious Gold Transaction With Digital Yuan The Shanghai branch of the Bank of China announced that it has completed the first precious metal settlement using the digital yuan, the Chinese central bank digital currency (CBDC). The bank worked closely with the Shanghai Gold Exchange to transact the funds received overseas with the digital yuan. The transaction involved paying $14 million in exchange for undisclosed precious metals. According to local media, this would be the first time the Chinese digital yuan is used to complete a fine metal transaction. A spokesperson for the Shanghai branch of the Bank of China stressed the relevan...