Bitcoin News and Finance: What You Need to Know

Tesla CEO Elon Musk has expressed his eagerness to tackle excessive waste and regulations in the U.S. government, responding to a report that former President Trump is considering him for a role in auditing federal agencies. Musk emphasized the need to reduce wasteful spending to curb inflation and proposed forming a “government efficiency commission” to […]

Bitfinex’s analysts expect bitcoin’s price to potentially drop to the low $50,000s or mid $40,000s if the Federal Reserve cuts interest rates this month. The “historical price action for September also aligns with our view of a projected 20 percent drop in bitcoin prices following a rate cut,” the Bitfinex analysts said. Bitfinex Predicts Bitcoin […]

Turkey has reportedly formally requested to join the BRICS economic bloc to expand its global influence and establish new alliances beyond its traditional Western partners. Turkish President Recep Tayyip Erdogan’s administration views the shifting geopolitical landscape as an opportunity to strengthen ties with both Eastern and Western nations while remaining committed to NATO. Erdogan emphasized […]

The United Nations has expressed serious concerns about the arrest and charges against Pavel Durov, founder of Telegram, citing potential human rights issues. A U.N. spokeswoman called for adherence to international human rights standards, emphasizing the need for legality and proportionality in regulating social media platforms. United Nations Raises Human Rights Concerns Over Arrest of […]

Venezuelan President Nicolas Maduro discussed the possible future of the national cryptocurrency system following the so-called PDVSA-Crypto scheme, which resulted in the loss of $20 billion in unaccounted oil sales paid in crypto. Maduro stated that the country needed to retake the crypto path but gave no indications regarding the revival of the national cryptocurrency […]

Metaplanet and SBI VC Trade have formed a strategic partnership to enhance bitcoin trading, storage, and management. This alliance aligns with Metaplanet’s “bitcoin first, bitcoin only” strategy, emphasizing BTC’s scarcity and decentralized nature. The partnership provides Metaplanet access to SBI VC Trade’s tax-efficient corporate custody services and the ability to use bitcoin as collateral, supporting […]

Current stablecoin metrics show that USDE, the popular yield-bearing stablecoin, has slipped to fifth place among the top U.S. dollar-pegged tokens by market capitalization. Over the past three days, Ethena’s USDE supply has decreased by 130 million, pushing First Digital’s FDUSD into the fourth largest spot. Stablecoin Shakeup: USDE Slips to 5th, FDUSD Rises to […]

Coinbase’s chief legal officer has criticized the U.S. Securities and Exchange Commission (SEC) for its ambiguous position regarding FTX’s proposal to repay creditors using stablecoins or other cryptocurrencies. Although the SEC did not explicitly deem these transactions illegal, it retained the right to contest them, leading to frustration within the crypto community. This uncertainty has […]

The Russian economy has experienced substantial growth across various sectors, with unemployment rates remaining historically low, despite ongoing Western sanctions related to the Ukraine conflict. Industrial production, driven by military manufacturing, saw a 3.3% increase in July, and the GDP growth rate for the first half of the year reached 4.6%, compared to 1.8% in […]

Coinbase CEO Brian Armstrong announced the platform’s first AI-to-AI cryptocurrency transaction, highlighting a new application of digital currency by artificial intelligence agents. Armstrong believes this advancement will enhance AI’s capacity to independently obtain resources and engage with humans and other AI systems. He encourages developers to add crypto wallets to support the growth of AI-to-AI […]

Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with a loan of either $30 million in dollars or 500 bitcoin. […]

Frax Finance has launched the Frax Name Service (FNS), a decentralized identity service that allows users to register unique names on the Frax blockchain. Frax Finance Expands Ecosystem With Launch of Frax Name Service Frax Finance has introduced the Frax Name Service (FNS), a decentralized identity service designed specifically for the Frax ecosystem. FNS is […]

Elon Musk and Tesla Inc. successfully had a lawsuit dismissed that accused them of manipulating the price of dogecoin (DOGE) for personal gain. A U.S. District Judge in Manhattan ruled that the plaintiffs failed to provide convincing evidence, despite multiple revisions of their claims. The lawsuit alleged that Musk’s social media influence caused a 36,000% […]

The East African nation of Tanzania has reportedly restricted access to the social media platform X (formerly Twitter). This ongoing outage has been confirmed by Netblocks, an internet observatory organization. The incident coincides with a police alert regarding alleged plans by the opposition party to raid police stations. Prominent politician Tundu Lissu and four other […]

A Nigerian blockchain industry leader has described the recent approval of two crypto exchanges by the securities regulator as a positive step that improves the image of Nigeria’s crypto space. The leader believes clear regulations will attract foreign investors and benefit Nigerian entrepreneurs. He also urged Nigeria to follow the rule of law regarding the […]

Argentine President Javier Milei recently announced that a series documenting his rise to power will premiere on X. The six-part limited series, titled “Milei – The Series,” will showcase the process Milei underwent to reach the Argentine presidency. It will feature never-before-seen insider content recorded by director Santiago Oria, who is also responsible for the […]

Lightspark, a Bitcoin Lightning Network financial services company, has announced the release of its UMA Extend feature, which focuses on increasing the interaction between crypto and legacy rails in the U.S. With UMA Extend, businesses can opt in for a direction that can be linked to an account, allowing them to instantly receive LN payments […]

The Nigerian Securities and Exchange Commission (SEC) has granted “approval-in-principle” to Busha Digital and Quidax Technologies, the first digital asset exchanges to operate in the country. Additionally, four digital asset offering platforms and one custodian have been admitted to the regulatory incubation program to test their technology. The SEC has cautioned the Nigerian public to […]

A recent report by Bitso, one of the largest crypto exchanges in Latin America, found that Argentines were especially inclined to use and purchase stablecoins over other cryptocurrencies. Six out of every ten cryptocurrency purchases in Argentina involved stablecoins during Q1 and Q2, as these are used as a hedge against inflation and devaluation. Bitso: […]

The CEO of Binance has responded to allegations that the cryptocurrency exchange seized all funds from Palestinians at the request of the Israeli Defense Forces. Ray Youssef, CEO of Noones, criticized Binance, accusing it of yielding to external pressures and engaging in discriminatory practices. He called for a boycott of Binance and supported platforms that […]

The Russian government has warned France that pursuing criminal charges against Pavel Durov, the founder of Telegram, could be considered “political persecution.” Durov, a Russian-born French citizen, was detained in Paris for allegedly failing to control illegal content on the messaging platform. He was released on bail but must stay in France and report regularly […]

A report presented to the Paraguayan Congress highlights the low level of employment associated with the country’s bitcoin mining activity. According to data from the Social Care Institute, the entire bitcoin mining industry is responsible for only 383 direct jobs, with over 40 companies not reporting any workers directly associated with their operations. Paraguayan Bitcoin […]

This week, Cipher Mining Inc. revealed that it has acquired a sprawling 250-acre property in West Texas, which includes a 300-megawatt (MW) data center. The company also highlighted that this location is ideal for high-performance computing (HPC) services. Cipher Mining Grows to 2.5 GW Portfolio In its announcement, Cipher (Nasdaq: CIFR) shared that it invested […]

Crypto exchange Coinbase supports the Australian government’s Scams Awareness Week, emphasizing the importance of consumer education to combat fraud. Coinbase APAC’s managing director offered tips for investors to protect themselves from scams, such as verifying URLs and using two-factor authentication. “Unfortunately, bad actors have been around for centuries and are not going away anytime soon,” […]

Former U.S. President Donald Trump has released a fourth series of non-fungible token (NFT) digital trading cards. The collection includes 50 unique cards, featuring images such as Trump holding bitcoin. Collectors may receive a physical trading card containing a piece of a suit worn during the presidential debate with Joe Biden and could be invited […]

Telegram founder Pavel Durov was reportedly scheduled to dine with French President Emmanuel Macron on the day he was arrested, sparking controversy. French authorities detained Durov, and reports indicate that he had informed them about the planned meeting. The allegations led to a political backlash, with accusations against Macron for stifling free speech. Did Macron […]

The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to Opensea, signaling potential enforcement action against the NFT marketplace. Opensea’s CEO criticized the SEC’s move, claiming it could negatively impact innovation and creators’ livelihoods. The platform is prepared to contest the action and has committed $5 million to support NFT creators facing […]

Financial comparison platform Finder has updated its XRP price prediction for 2024 based on input from a panel of fintech experts. The panel’s average prediction for XRP is $0.66 this year, with the forecast suggesting it could rise to $1.05 by the end of 2025 and reach $2.49 by 2030, driven by its role in […]

The United Arab Emirates (UAE) has requested consular services for Telegram CEO Pavel Durov following his arrest in Paris for alleged cybercrimes. France is investigating Durov for enabling illegal activities through Telegram. Russia has similarly sought to protect Durov’s rights, but France has been described as uncooperative. Telegram denies any wrongdoing, defending its moderation practices […]

Space and Time (SxT) Labs has announced the completion of a $20 million Series A funding round, led by Framework Ventures and supported by several prominent investors. SxT Labs disclosed that the funding aims to accelerate the company’s development of tools that bridge the gap between artificial intelligence (AI) and blockchain technology. Space and Time […]