Bitcoin

The government of Iran has finalized a set of cryptocurrency regulations. A “comprehensive and detailed” law ratified by the administration provides a regulatory framework for cryptocurrency, including their authorized usage and crypto mining, a government official reportedly said. Iran Finalizes Crypto Regulations The Iranian government has evaluated all issues relating to cryptocurrencies and approved a set of cryptocurrency regulations, Reza Fatemi-Amin, the minister of Industry, Mines, and Trade, told reporters at the conclusion of an automotive industry event in Tehran Sunday. He explained that the government has ratified a “comprehensive and detailed” law that defines cryptocurrency regulations, including the use of fuel and electricity for crypto mining and the authorized uses of cryptocurrencies, Tasnim news agency conveyed. The minister added that under an agreement between his ministry and the central bank of Iran, cryptocurrency can be used to pay for imports. He additi

Tesla CEO Elon Musk has outlined new reasons to terminate the $44 billion deal to buy Twitter in a new filing with the U.S. Securities and Exchange Commission (SEC). Citing a whistleblower report, Musk’s lawyer said the allegations, known to the social media giant but undisclosed to Musk, indicate “far-reaching misconduct at Twitter.” Elon Musk Presents More Reasons to Terminate Twitter Deal in New SEC Filing Tesla CEO Elon Musk has found more reasons to terminate his $44 billion offer to buy Twitter Inc. Musk’s lawyer filed a letter he sent to Twitter with the U.S. Securities and Exchange Commission (SEC) Monday to provide additional notice of termination of the agreement. Musk officially terminated his offer to buy Twitter on July 8. Twitter subsequently sued the Spacex boss to force him to close the deal, prompting Musk to countersue the social media giant. In the letter sent to Twitter Chief Legal Officer Vijaya Gadde, Musk’s lawyer detailed: Allegations regarding certain

The host of Mad Money, Jim Cramer, has advised investors to avoid cryptocurrency and other speculative investments. “Don’t get memed. Don’t get SPAC’d. Don’t get crypto’d,” Cramer stressed, warning of “a giant washout of all things that are speculative.” Jim Cramer Advises Investors to Avoid Crypto The host of CNBC’s Mad Money show, Jim Cramer, offered some advice Tuesday regarding what to invest in the current market condition. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. The Mad Money host has urged investors to stay away from speculative assets including cryptocurrencies. He warned that these investments will struggle as the Federal Reserve continues its hawkish stance to combat inflation. “Look, Fed chief Jay Powell told us that we need to stop doing stupid things with our money. That was the thrust of his speech on Friday,” Cramer said, referring to Powell’s speech in Jackson Hole, Wyoming. The central banker warne

This week, Ticketmaster Entertainment, Inc. revealed the company will give event organizers the ability to mint non-fungible token (NFT) tickets via the Flow blockchain. Last November, Ticketmaster said it was working with Polygon but since Super Bowl LVI, the ticket sales and distribution behemoth started working with the Dapper Labs-managed Flow. Ticketmaster Has Minted More Than 5 Million NFTs Using Flow’s Technology On August 31, 2022, a sportsbusinessjournal.com report detailed that Ticketmaster will allow event organizers to issue NFTs using the Flow blockchain. Organizers will be able to mint NFTs before, during, or after an event and they can represent tickets or memorabilia, VIP access and rewards as well. The report notes that the ticketing agency has already minted 5 million NFTs via the Flow network. Clients that have issued NFTs include The Black Crowes, the Apollo Theater, and Gavin DeGraw. Ticketmaster originally said it would use Polygon but in February the world’s

The Eurozone’s inflation rate reached a record high in August of 9.1%, the highest ever recorded in history, according to Europe’s statistics office Eurostat. The rate was higher than economists suspected and most of the rise was fueled by Europe’s rising energy prices. Europe’s Torrid Inflation Continues to Rise, While the Region Faces an Energy Crisis Currently, Europe is suffering from the highest inflation rate the euro area has seen in almost 50 years, and each one of the members of the monetary union has seen red-hot consumer prices. Just recently, Reuters polled a number of economists, and the data published by Eurostat is larger than the economists predicted. Eurozone #inflation hits record: Consumer prices surged 9.1% YoY in August outpacing est. of 9%. Core inflation jumped 4.3%, a fresh ATH as well. Above all, the rise in core inflation is also putting the #ECB under pressure. pic.twitter.com/DI9ruavNUT — Holger Zschaepitz (@Schuldensuehner) August 31, 2022 Stat

GameSwift is a one-stop gaming ecosystem that aims to introduce cross-chain interoperability to web3 gaming. Chain, Web3 Infrastructure, Platform, and Gaming Studio are the four well-designed and integrated pillars of the ecosystem. Its original infrastructure facilitates implementing blockchain technology and sharing in-game resources for game developers and lets the players enjoy their gaming experience to the fullest. Wojciech Gruszka, the Founder and CEO of GameSwift , is commonly known on Twitter as PanParagraf . He recently joined the Bitcoin.com News Podcast to talk about the market: Wojciech is a lawyer and blockchain projects advisor. Thanks to his experience gained in international corporations such as Deloitte and Shell he’s been successfully advising various fintech organizations. Known to a wider audience for his Twitter profile based on extensive tokenomics analysis. To learn more about the GameSwift ecosystem visit gameswift.io , and join the community on Twitter

A constitutional court in the Central African Republic has reportedly ruled that the Touadéra government’s offer of land and citizenship to buyers of the sango coin is unconstitutional. The court said the sango-coin-for-citizenship scheme must be stopped because the country’s “nationality has no market value.” Offering Land and Minerals to Sango Coin Investors Ruled Unconstitutional In a ruling likely to derail the Central African Republic (CAR)’s crypto ambitions, a constitutional court has ruled that the government’s plan to offer full citizenship to investors in its sango coin cryptocurrency is illegal. In addition, the court said the government’s offer of land and access to minerals such as gold to sango coin buyers is unconstitutional. According to the court, the country’s “nationality has no market value,” hence President Faustin-Archange Touadéra’s government must stop promising citizenship to investors that buy sango coins worth $60,000. Government Says It Respects Court’

The U.S. Securities and Exchange Commission (SEC) has warned about scammers exploiting investors’ fear of missing out (FOMO) on social media. “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC cautioned. SEC Says Scammers Often Use Social Media to Defraud Investors The U.S. Securities and Exchange Commission (SEC) published an Investor Alert titled “Social Media and Investment Fraud” Monday. The SEC’s Office of Investor Education and Advocacy warned that “fraudsters often use social media to scam investors.” Encouraging investors to be skeptical and “never make investment decisions based solely on information from social media platforms or apps,” the securities regulator described: Fraudsters may exploit investors’ fear of missing out to lure investors on social media into ‘crypto’ investment scams. “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC stressed. “Promises of high investment returns, wi

Dubai, Tuesday, August 30th – Zogi Labs Ltd. officially releases The Legends of Bezogia Beta to global audiences seeking to experience an NFT crypto-based MMORPG like never seen before. The Legends of Bezogia takes the crypto gaming industry to new heights with next-level graphics, a rich and deep backstory, countless quirky characters & villains and a massive open world. Players can rent, own & sell their own NFT Bezogi characters and kit them out with NFT weapons that add unique flavor to the gameplay never seen before in an NFT crypto-based massive open-world game. “Following on from a year of hard work, devotion and creative passion we’re extremely excited to finally launch The Legends of Bezogia Beta after an overwhelmingly positive response & signup count. With the aim of taking the NFT crypto gaming industry by storm, the game will give users all around the world a totally new experience in crypto gaming which is fitting for 2022. Gone are the days of crypto games

The chief global strategist of JPMorgan Asset Management has advised investors to focus on valuations, invest in value stocks, sell crypto, and steer clear of bitcoin. “The Federal Reserve is overestimating the strength of the U.S. economy as it feels guilty about the fact that inflation went up under their watch,” he said. JPMorgan Strategist’s Recommendations JPMorgan Asset Management’s chief global strategist, David Kelly, has some advice about what investors who are worried about a hawkish Federal Reserve should invest in. Following the speech by Federal Reserve Chairman Jerome Powell Friday at Jackson Hole, Wyoming, he was quoted as saying : The economy has got one foot into a recession and the other on the banana peel now. “We are taking forceful and rapid steps to moderate demand so that it comes into better alignment with supply, and to keep inflation expectations anchored. We will keep at it until we are confident the job is done,” Powell said last week. Warning of m

According to a recent report, the venture capital firm founded by Alexis Ohanian, Seven Seven Six, is planning to raise $177 million for a new crypto-centric fund. The new Seven Seven Six fund called Kryptós will concentrate on investing in cryptocurrencies like bitcoin and ethereum. Seven Seven Six Launches Cryptocurrency Fund Kryptós — Plans to Go Live in October On August 29, 2022, The Information reporter Kate Clark published a report that noted Reddit co-founder Alexis Ohanian’s Seven Seven Six is raising money for a new crypto-focused fund called Kryptós. The company has been behind a number of investments tethered to the crypto and Web3 industry. For instance, Seven Seven Six led the Ethereum Web3 wallet platform Rainbow’s $18 million funding round . In mid-December 2021, Seven Seven Six teamed up with Polygon to launch a $200 million social media Web3 fund. On Monday, The Information’s report says the fund Kryptós is looking to raise $177 million and it will invest in cr

Albanian authorities have detained the founder and chief executive of the Turkish cryptocurrency exchange Thodex, who allegedly fled Turkey with customer funds as the trading platform collapsed. Faruk Fatih Ozer was wanted for fraud with a red notice issued by Interpol. Albania Captures Alleged Crypto Fraudster, Prepares to Hand Him Over to Turkish Judiciary Police in Albania arrested 27-year-old Turkish businessman Faruk Fatih Ozer who founded and operated the now-defunct crypto exchange Thodex. Albanian law enforcement has been trying to locate him since he reportedly fled to the country with $2 billion of investors’ assets. Close to 400,000 people are believed to have suffered losses. According to an announcement by Turkey’s Ministry of Internal Affairs, quoted by the Anadolu Agency and other Turkish media, the Minister of the Interior of Albania Bledar Çuçi informed his counterpart in Ankara, Süleyman Soylu, that Ozer was captured in the city of Vlora. His identity was confirme

Bitcoin miner Cleanspark says it experienced accelerated growth amid the crypto winter this year and the operation’s hashrate has surpassed 3 exahash per second (EH/s), tripling in less than twelve months’ time. The news follows a number of expansions bitcoin mining operations have embarked upon during 2022’s tumultuous crypto market. Cleanspark’s Hashrate Surpasses 3 EH/S, Bitcoin Miner’s Executive Chairman Says Firm Was Prepared ‘for a Rough Market’ On Tuesday, the bitcoin mining operation Cleanspark (Nasdaq: CLSK ) announced that the company’s hashrate has officially surpassed 3 EH/s. Cleanspark notes that the firm’s hashpower has jumped three times higher in less than a year and currently the company has 31,000 ASIC (application-specific integrated circuit) mining rigs. According to the company, Cleanspark has recorded a “daily production high of 13.25 bitcoins.” Cleanspark’s update on Tuesday follows the firm revealing it acquired thousands of next-generation ASIC miners at a

Phil Spencer, head of the Xbox brand, believes that the metaverse has been with us since 30 years ago, when digital gaming was largely introduced. However, Spencer criticized play-to-earn (P2E) models, stating that they create a workforce out of a kind of gamer who needs to monetize the time spent playing. Xbox Boss Phil Spencer Believes the Metaverse Has Been Here for Some Time The metaverse and its current conceptions have been the subject of debate and criticism. The current head of the Xbox brand and CEO of gaming at Microsoft, Phil Spencer, offered his skeptical take on how the metaverse, an alternate world, is currently being presented. In an interview with Bloomberg, Spencer stated that the metaverse is nothing new and that it is related to what gamers have already been doing for some time. He explained : My view on metaverse is that gamers have been in the metaverse for 30 years. When you’re playing games, these 3D shared worlds that people have been playing in for years a

In November 2020, Colorado banned gas flaring, venting, and the release of raw gas into the atmosphere. While the centennial state has a large number of well sites, a recent report shows that roughly a half dozen Colorado oil and gas companies are leveraging gas-to-bitcoin flare mitigation systems and these firms are raking in a lot of bitcoin. Report Shows at Least a Half Dozen Colorado-Based gas and Oil Firms Are Leveraging Gas-to-Bitcoin Mitigation Solutions On August 29, 2022, the Colorado Sun author Mark Jaffe reported on Colorado-based gas and oil companies teaming up with bitcoin miners and explaining how “they’re making quite a bit of coin.” Jaffe details that there are at least a half dozen oil and gas refiners using gas-to-bitcoin flare mitigation systems in the natural gas-rich state of Colorado. The growing number of bitcoin flare mitigation sites in Colorado is interesting because the state’s regulatory watchdog, the Colorado Oil and Gas Conservation Commission (COGCC

The International Monetary Fund (IMF) expects the U.S. economy to experience high inflation for at least another year or two. “I would be careful about looking at one data point for the U.S.,” IMF First Deputy Managing Director Gita Gopinath cautioned. IMF on US Economy and Global Inflation The first deputy managing director of the International Monetary Fund (IMF), Gita Gopinath, discussed global inflation and the U.S. economy in an interview with Bloomberg Friday in Jackson Hole, Wyoming. Responding to a question about whether global inflation has peaked, she said: “I think it’s too early to say. Yes, we have inflation almost everywhere. There are important exceptions, like China and Japan, but everywhere else we have high levels of inflation.” The IMF executive added: There are global factors like energy prices and food prices that are driving it but there are also kind of more sticky components of inflation that are high. On Friday, Federal Reserve Chairman Jerome Powell st

U.S. Senator Elizabeth Warren says she is “very worried” that the Federal Reserve will tip the economy into recession. “There is nothing in raising the interest rates, nothing in Jerome Powell’s tool bag that deals directly with” the causes of inflation, she explained. Senator Elizabeth Warren on Inflation and the Fed Raising Interest Rates U.S. Senator Elizabeth Warren (D-Mass.) discussed inflation and the Federal Reserve raising interest rates during an appearance on CNN’s State of the Union Sunday. She began by commenting on the speech by Federal Reserve Chairman Jerome Powell in Jackson Hole on Friday. “While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain,” Powell said. “I want to translate what Jerome Powell just said,” the senator from Mass

Global investment bank Goldman Sachs has urged investors to buy commodities now and worry about a recession later. The firm’s analysts see commodities as “the best asset class to own during a late-cycle phase where demand remains above supply.” Meanwhile, “equities could suffer as inflation stays elevated and the Fed is more likely to surprise on the hawkish side,” Goldman noted. Goldman Sachs’ Recommendation: Buy Commodities Now Global investment bank Goldman Sachs has recommended investors buy commodities. In a note titled “Buy commodities now, worry about the recession later,” published Monday, Goldman wrote: “Our economists view the risk of a recession outside Europe in the next 12 months as relatively low.” The firm’s analysts, including Sabine Schels, Jeffrey Currie, and Damien Courvalin, explained: With oil the commodity of last resort in an era of severe energy shortages, we believe the pullback in the entire oil complex provides an attractive entry point for long-only inv

PRESS RELEASE. Jackson, Wyoming (August 29, 2022) – Gala Games , the leading pioneer in web3 entertainment and blockchain gaming, today announced that Spider Tanks , the first Web3 PvP esports brawler, will launch on October 31, 2022 as the debut game on Project GYRI, Gala Games’ proprietary games-first blockchain. In anticipation of the launch, starting today Gala is kicking off a limited time sale for its Spider Tanks Planetary Nodes. Planetary Nodes will be operated by community members who have purchased licenses in this sale. In return for using their computing resources to power the decentralized Spider Tanks ecosystem, Node operator-owners will earn regular rewards. More information about Planetary Nodes can be found at Gala.Games . Developed by award-winning Netherlands-based GAMEDIA, this futuristic esports tank game is free to play, but also incorporates a variety of play-to-earn mechanics that center around skill-based competition, resource collection, and a player-dri

Singapore’s central bank, the Monetary Authority of Singapore (MAS), is contemplating imposing stricter rules on retail crypto investors. “MAS regards cryptocurrencies as unsuitable for use as money and as highly hazardous for retail investors,” said the central bank chief. New Rules May Be Coming to Retail Crypto Investors in Singapore Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), the Singaporean central bank, talked about cryptocurrency regulation at the Green Shoots seminar Monday. He outlined five areas of risk in digital assets that the central bank’s regulatory approach is focused on. They are combating money laundering and terrorist financing risks; managing technology and cyber-related risks; safeguarding against harm to retail investors; upholding the promise of stability in stablecoins; and mitigating potential financial stability risks. The central bank chief noted: MAS regards cryptocurrencies as unsuitable for use as money and as hi

On August 29, the digital collectibles company Veve announced that the platform has launched digital variant non-fungible token (NFT) covers from three Marvel comic book artists. Veve and Marvel detailed that the NFT drops called the Marvel Artworks collection will be limited edition, 1-of-1 releases of three Marvel comic covers featuring Spider-Man, and the Black Panther. Veve Reveals Marvel Artworks Collection Marvel Entertainment continues to release products for the NFT industry with the company Veve Digital Collectibles. The two firms recently revealed plans to drop three limited edition NFTs from the Marvel Artworks collection. Veve has worked with Marvel in the past dropping Spider-Man and Captain America digital collectibles in 2021. Further, Veve has collaborated with Marvel’s competitor DC Comics and the entertainment giant Walt Disney . The latest Veve and Marvel NFT auction started today, and it runs through Friday, September 2, 2022, at 2:00 p.m. (PT). Bids start