Bitcoin

Citi has predicted that the total market for the metaverse economy could grow to between $8 trillion and $13 trillion by 2030. In addition, the global bank expects that the number of metaverse users could be as many as five billion. The Metaverse Is Potentially an $8 Trillion to $13 Trillion Opportunity, Says Citi Citi released a new Global Perspectives & Solutions (Citi GPS) report titled “Metaverse and Money: Decrypting the Future” Thursday. The leading global bank has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. The 184-page report explores various aspects of the metaverse in-depth. They include what a metaverse is; its infrastructure; digital assets including non-fungible tokens (NFTs) in the metaverse; money and defi (decentralized finance) in the metaverse; and regulatory developments applicable to the metaverse. Regarding the size of the metaverse economy, Citi described: “We believe the metaverse may be t

The Securities and Exchange Commission (SEC) has listed crypto assets as an examination priority for market participants this year. “In this time of heightened market volatility, our priorities are tailored to focus on emerging issues, such as crypto assets,” said an official with the SEC Division of Examinations. Crypto Assets Among SEC Examination Priorities The Securities and Exchange Commission’s Division of Examinations published its annual examination priorities Wednesday. Crypto is among the top priorities highlighted in the report this year. The Division of Examinations conducts the SEC’s National Exam Program, its website details, adding that its “mission is to protect investors, ensure market integrity and support responsible capital formation through risk-focused strategies.” SEC Chairman Gary Gensler explained that the examination priorities identify key risk areas that the SEC expects registrants — including investment advisers, broker-dealers, self-regulatory organi

Layerzero Labs, the firm behind the interoperability protocol Layerzero, has revealed the company has raised $135 million in a Series A+ finance round led by Andreessen Horowitz (a16z), FTX Ventures, and Sequoia Capital. The new financing brings Layerzero Labs’ overall valuation to $1 billion and the funds will be leveraged to develop cross-chain decentralized applications (dapps) powered by Layerzero. Layerzero Raises $135 Million From Andreessen Horowitz, FTX Ventures, Sequoia Capital On March 30, 2022, the company Layerzero Labs announced it had secured $135 million in a Series A+ funding round. The funding round was led by Sequoia Capital, FTX Ventures, and a16z, and the funding also saw participation from Uniswap Labs, Paypal Ventures, Tiger Global, and Coinbase Ventures. The financing also pushes Layerzero Labs to unicorn status, as the latest capital injection brings the company’s overall valuation to $1 billion. “This round is a massive step forward for Layerzero Labs and t

PRESS RELEASE. NovaTerra is a Metaverse MMORPG featuring a play-to-earn model. The game is set in a post-apocalyptic future, where humanity has turned the planet into a barren wasteland. Following the planet-wide devastation, massive drought has made water an extremely scarce and valuable resource. The player character is a survivor who is helping to rebuild society and terraform this post-apocalyptic wasteland. The gameplay revolves around farming, building and cooperation between players. Successfully farming crops and cooperating with other players will reward the player with the game’s main currency — $CCO2 tokens . Coorest’s fruit-bearing NFTrees are also featured in the game. If a player owns a certain number of NFTrees, they will be able to plant them on their farm to reap extra benefits. Player cooperation and trading will be a prominent feature of NovaTerra. Initially, players will only have the option to buy land which can be used to grow their crops, trees or animals,

Bitcoin miner Cleanspark has revealed the company is expanding operations in Texas with up to 500 megawatts (MW) of renewable power. The firm has inked a deal with the Houston-based Lancium to initially secure 200 MW of Lancium’s renewable power and has the option to obtain 300 MW more going forward. Cleanspark Reveals Plans to Expand to the Lone Star State, Firm Partners With Texas Energy Firm Lancium On Thursday, the Nevada-based Cleanspark revealed plans to add up to 500 MW of renewable power to fuel its bitcoin mining operations after partnering with the Texas energy firm Lancium. The announcement’s details explain that Cleanspark will obtain an initial 200 MW from Lancium’s data centers in West Texas and in the future, Cleanspark has the option to acquire 300 MW more from Lancium. Cleanspark expects 50 MW of bitcoin mining will be operational by the year’s end and by spring 2023, it expects the remaining 150 MW to come online. “After completely using this capacity with the lat

On March 26, the Luna Foundation Guard (LFG) held 24,954.95 bitcoin and during the last five days, LFG’s bitcoin wallet accumulated 5,773.02 bitcoin. At the time of writing, LFG’s wallet now holds 30,727.97 bitcoin worth more than $1.4 billion using today’s exchange rates. In a relatively short period of time, LFG’s bitcoin wallet is up there with some of the largest crypto treasuries on record. LFG Wallet Accumulates 5,773 Bitcoin in 5 Days During the last two weeks, the Luna Foundation Guard (LFG), has been on a bitcoin buying spree in order to accumulate bitcoin ( BTC ) for the organization’s reserve pool. LFG is a non-profit based out of Singapore that is dedicated to the Terra (LUNA) ecosystem and aims to advance the “sustainability and stability of Terra’s algorithmic stablecoins.” On March 21, Bitcoin.com News reported on Terra’s founder Do Kwon hinting at purchasing $3 billion in BTC . Following that report, LFG’s first purchase was caught by onchain observers and after

PRESS RELEASE. Yield App, one of the rising and most trusted digital wealth platforms, recently underwent a thorough ‘proof of reserves’ audit. The inspection was conducted by Armanino LLC, the firm responsible for auditing Kraken – one of the largest and most trusted cryptocurrency exchanges in the world. Yield App passed the audit with flying colors, bolstering its stance on safety and accountability of the assets deployed by customers into portfolios available on its platform. What is ‘proof of reserves’ ? A proof of reserves is an independent audit of a company’s balance sheet conducted by a third party, such as Armanino LLP. These cryptographically reconciled public reports empower customers to verify that the digital asset service providers they use do indeed hold enough assets on their balance sheets to offset their customers’ liabilities. The first report was completed on 24 January 2022, using a ‘point in time’ methodology to determine the results, and can be read here

CME Group, one of the world’s largest derivatives marketplaces, has launched micro-sized bitcoin and ether options. “The launch of these micro-sized options builds on the significant growth and liquidity we have seen in our micro bitcoin and micro ether futures,” said a CME executive. CME Now Offers Micro Bitcoin, Ether Options CME Group announced Monday that it is now offering options on micro bitcoin and micro ether futures. CME’s Micro Bitcoin futures (MBT) is 1/10 the size of one bitcoin ( BTC ) and Micro Ether futures (MET) is similarly sized at 1/10 of one ether ( ETH ). Tim McCourt, CME Group’s global head of equity and FX products, commented: The launch of these micro-sized options builds on the significant growth and liquidity we have seen in our micro bitcoin and micro ether futures. “Sized at one-tenth of their respective underlying tokens in size, these contracts will offer a wide range of market participants — from institutions to sophisticated, active, individual

Billionaire Mike Novogratz says he is much more optimistic about the crypto market now than he was a month ago. He explained that bond sell-offs and increased crypto adoption have boosted the prices of cryptocurrencies, particularly bitcoin. “I think you are going to see the Democrats taking a softer stance,” he added. Mike Novogratz Expects Lawmakers to Take a Softer Stance on Crypto Galaxy Digital CEO Mike Novogratz talked about why he is more optimistic about the crypto market now than he was six or seven weeks ago in an interview with CNBC Tuesday. The executive explained: Maybe what I got wrong was with all this selling in fixed income that money has got to go somewhere. The billionaire predicted earlier this month when BTC was struggling to break the $40,000 level that bitcoin’s price would range between $30,000 and $50,000 throughout the year. At the time of writing, bitcoin is trading at $47,327 based on data from Bitcoin.com Markets. Novogratz continued, “We certainly

The International Monetary Fund (IMF) says a lot more work needs to be done on crypto regulation. “We’ve certainly seen an increase in the use of cryptocurrencies before this war, and we’ve seen it happen more in emerging markets than in others,” said the deputy managing director of the IMF. IMF Chief Kristalina Georgieva Pushes for Harmonized Crypto Framework The top two leaders at the International Monetary Fund (IMF) discussed crypto regulation on the Foreign Policy Live podcast, published last week. IMF Managing Director Kristalina Georgieva and Deputy Managing Director Gita Gopinath were asked how governments should respond to the growing number of challenges facing the global economy, including cryptocurrency. Georgieva explained that the IMF separates digital assets into three types: “crypto assets like bitcoin,” stablecoins, and central bank digital currencies (CBDCs). Regarding crypto assets, she said: Time has passed to have regulatory frameworks that are as much as pos

The largest non-fungible token (NFT) marketplace Opensea has plans to add Solana support in April. The news follows an abundance of rumors that said the company would be adding Solana in the near future. Opensea Confirms Solana Support After a Myriad of Rumors and Speculation Opensea has confirmed it will be adding Solana (SOL) support in April, according to a teaser video the company tweeted out on March 29. Opensea is the largest NFT marketplace in terms of all-time sales with $23.5 billion sold to date. The $23.5 billion was between 1,417,562 traders and the average NFT sale on Opensea this week is around $930.59 per NFT. The best kept secret in web3🤣 pic.twitter.com/xuZn64cZ4U — OpenSea (@opensea) March 29, 2022 Opensea already supports three blockchain networks which include Ethereum, Klaytn, and Polygon. Solana (SOL) will be the fourth blockchain addition to the NFT marketplace’s current protocol lineup. Solana (SOL) is the seventh-largest cryptocurrency (at the

Nequi, a fintech neobank which allowed Colombian citizens to test all-digital financial services, has announced its plans for expansion after having parted ways with Bancolombia, the bank that gave it its origin. These plans include an entry into the cryptocurrency world while complying with the limits set by current regulators. Colombian Nequi to Enter Crypto Market More and more neobanks are considering including cryptocurrencies in their service offerings. This is the case with Nequi, a fintech platform that is reportedly considering making an entrance into the crypto sector in Colombia. The platform, which has more than ten million customers, is now in talks to become an independent company and platform, separating itself from Bancolombia. The announcement was made by Nequi’s CEO, Cipriano Lopez, in a webinar with Credicorp Capital, a holding company that also lends financial services to its customers. Lopez explained that Nequi wants to make a direct entry into the market, wi

Nifty Gateway, the non-fungible token (NFT) marketplace has announced that the company has partnered with the electronics giant Samsung. The two firms have been working on the “first-ever smart TV NFT platform” and Nifty Gateway is already integrated into Samsung’s 2022 premium TV product lines. NFT Marketplace Nifty Gateway Partners With the Electronics Giant Samsung During the first week of January, the electronics company Samsung revealed it was getting into non-fungible token (NFT) technology and NFTs would be introduced into the company’s TV products. At the time, Samsung didn’t get into too many details except that it would offer the first smart television product line with NFT capabilities. Now just over two months later, the Gemini-owned Nifty Gateway NFT marketplace announced that it has partnered with Samsung . The partnership is meant to “develop the first-ever smart TV NFT platform for exploring, purchasing, and trading digital art and collectibles.” According to the

In the past two years, law enforcement authorities in Malaysia have arrested hundreds of individuals for theft of electricity allegedly used to mint digital currencies. The country’s police force has also confiscated equipment worth millions of dollars. Malaysia Police Announce Results From Crackdown on Illegal Mining Since 2020, Malaysian authorities have detained a total of 627 people involved in crypto mining activities using stolen electrical power, the country’s Bernama news agency revealed. During the same period, law enforcement officials also seized mining hardware worth 69.8 million Malaysian ringgit ($16.6 million), according to the report. In a quoted statement, Inspector-General of Police Tan Sri Acryl Sani Abdullah Sani noted that the arrests were made as a result of joint efforts with representatives of Malaysia’s Tenaga Nasional Berhad ( TNB ) electric utility company and the Criminal Investigation Department (JSJ). As part of the cooperation, the Royal Malaysia Pol

The central bank in crisis-stricken Sudan has warned residents dealing with cryptocurrencies that they face numerous risks including loss of value. The warning comes as Sudan is grappling with an economic crisis that worsened after the civilian government was deposed by the military. Sudan’s Worsening Economic Crisis As Sudan’s currency continues to plummet, the country’s central bank has warned citizens against using or trading cryptocurrencies, a report has said. It warned those dealing with crypto assets that they face risks such as loss of value, financial crimes, and electronic piracy. The warning by the Central Bank of Sudan (CBOS) comes amidst a worsening economic crisis that has seen Sudan’s exports plummet by 85% in January. The warning also comes as reports suggest the country’s currency, the pound, is losing further ground against the U.S. dollar on the black market. The deteriorating economic conditions are believed to be key factors behind the increased interest in cr

On Tuesday, the fund manager Wisdomtree announced the launch of three crypto asset exchange-traded products (ETPs). The ETPs are associated with the cryptocurrency networks Solana, Cardano, and Polkadot and the new crypto investment products are currently listed on Börse Xetra, SIX, and the Swiss Stock Exchange. Wisdomtree Launches Cardano, Solana, and Polkadot Exchange-Traded Products Wisdomtree has announced the launch of three new digital currency exchange traded products (ETPs) and the products are physically-backed by cryptocurrency. Wisdomtree revealed on Tuesday that the new funds will include Wisdomtree Solana (SOLW), Wisdomtree Cardano (ADAW) and Wisdomtree Polkadot (DOTW). All three of these digital currencies are currently positioned in the top 20 list of the largest crypto market capitalizations today. The fund manager further disclosed that the three crypto ETPs will list on Euronext exchanges in Amsterdam and Paris on March 31. “The ETPs have a total expense ratio (T

Nasdaq-listed Microstrategy has obtained a $205 million bitcoin-collateralized loan from Silvergate Bank through a subsidiary to buy more bitcoin. “The interest-only term loan is secured by certain bitcoin held in Macrostrategy’s collateral account.” Company to Use $205M Bitcoin-Backed Loan to Purchase Bitcoin The Nasdaq-listed pro-bitcoin software company Microstrategy announced Tuesday that one of its subsidiaries has obtained a bitcoin-backed loan to purchase additional BTC . Microstrategy CEO Michael Saylor tweeted Tuesday: Macrostrategy, a subsidiary of Microstrategy, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase bitcoin. Silvergate Bank “has issued a $205 million term loan under its Silvergate Exchange Network (SEN) Leverage program to Macrostrategy LLC,” Microstrategy detailed. “The interest-only term loan is secured by certain bitcoin held in Macrostrategy’s collateral account with a custodian mutually authorized by Silvergate a

On March 29, blockchain parsers caught a sequence of 11 transactions totaling 11,325 bitcoin moving from unknown wallets created in 2014, to a great number of recipient addresses. Furthermore, the stash of bitcoin worth $540 million today is possibly linked to the Cryptsy theft, according to onchain analytics. 11,325 Bitcoins Move From Dormant 2014 Addresses, Assets May Be Linked to Cryptsy Theft A whole lot of bitcoin stemming from wallets created in 2014 moved on Tuesday and the funds may be tied to the Cryptsy theft . The now-defunct cryptocurrency exchange led by Paul Vernon lost millions of dollars worth of digital assets years ago at the end of 2015. More recently at the end of January 2022, the U.S. Department of Justice (DOJ) announced it had indicted Vernon for allegedly stealing over $1 million from digital currency wallets. The DOJ said Vernon, otherwise known as ‘Big Vern,’ stole from accounts between May 2013 and May 2015 and proceeded to deposit the stolen funds int

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the U.S. dollar is “about to implode.” Among the investments he suggested are cryptocurrencies bitcoin, ethereum, and solana. Robert Kiyosaki Foresees Dollar Imploding, Blames Biden for Inflation The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more warnings about the imminent collapse of the U.S. dollar. He also suggested investors buy some cryptocurrencies, naming three in particular: bitcoin, ether, and solana. 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 tweeted Monday warning that the world is in trouble. “National debt to go through the roof,” he wrote, emphasizing that the dollar is “about to implode.” The famous author insisted that President Joe Bid

As inflation continues to wreak havoc on American wallets, the U.S. dollar’s lack of purchasing power has been affecting nearly every U.S. resident’s spending decisions. On Monday, U.S. president Biden and his administration predicted lower inflation forecasts as officials announced Biden’s proposed budget for the 2023 fiscal year. According to marketwatch.com author Victor Reklaitis, the Biden administration’s inflation forecast “doesn’t look realistic.” Biden Administration Expects ‘Inflation Will Ease Over the Coming Year’ The Biden administration and White House economist, Cecilia Rouse, are predicting very low estimates as far as future inflation rates are concerned. This is despite the inflation rate in February skyrocketing to 7.9%, and rising at the fastest pace since 1982. Prices across the nation have been growing across the board and reports show that inflation is causing people to make different spending decisions. While the inflation rate jumped close to 4x higher than

The media and entertainment company World Wrestling Entertainment, Inc., otherwise known as WWE, has inked a long-term partnership with the global digital sports platform Fanatics. According to the deal, Fanatics will work with WWE across various ventures such as officially licensed merchandise, trading cards, and non-fungible tokens (NFTs). WWE Partners With Fanatics, Wrestling Entertainment Firm Will Work With Candy Digital WWE has its eyes on non-fungible token (NFT) sales and on March 28, the company signed a long-term deal with the digital sports platform Fanatics. The company is led by Michael Rubin and it offers licensed sports merchandise via Fanatics Commerce, collectibles, trading cards, and NFTs through the company’s NFT platform Candy Digital. The wrestling entertainment firm WWE will work with the company’s offerings Fanatics Commerce, Fanatics Collectibles, and Candy Digital. “Fanatics is the industry leader and Michael Rubin is a visionary,” said Vince McMahon, WWE’

Over the past six months, the Everscale network has gone through a complete metamorphosis. Originally called FreeTON, the network has made great strides in improving its technical capabilities as well as developing a robust ecosystem of DeFi platforms. The scale of these changes led the coчафmmunity to call for a rebranding to reflect how the project has come into its own as a mainstay of the DeFi industry, distinct from its origin as a continuation of the no-longer active Telegram TON project. Under the hood, the main technical changes to the network consisted in a revamping of the programming language complete with a node switch from C++ to more stable and efficient Rust nodes. The changes have made the network’s scaling capabilities virtually limitless and have improved its already top-of-the-line speed. Following the changes that were introduced to the network and subsequent rebranding, platforms that have been constructed around the network and helped its ecosystem crystallize

The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them. 11 Crypto Exchanges Investigated for Tax Evasion The Indian government answered some questions regarding the taxation of cryptocurrency exchanges Monday in Lok Sabha, the lower house of parliament. Parliament member S. Ramalingam asked the finance minister “whether it is true that some cryptocurrency exchanges were involved in evasion of goods and services tax (GST) and it was also detected that other cryptocurrency exchanges and major investors in digital currencies are under investigation by the government.” In addition, the parliament member asked the finance minister about “the action taken or proposed to be taken by the government against those cryptocurrency exchanges that were detected in GST evasion.” The minister of state in the ministry of finance, Pankaj Chaudhary, repli