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During the last few months, inflation has risen significantly in the United States as it has climbed at its fastest pace since 1982. Data shows younger families with children have been struggling to make ends meet, while reports further indicate retirees and older folks with fixed incomes are feeling the brunt of rising inflation. After the Biden administration blamed Vladimir Putin for America’s inflationary pressures last week, reports now say Biden has discovered another infractor, as he claims shipping prices have fueled sky-high prices across the country. Biden Administration Frowns at Shipping Industry, Claims Foreign-Owned Ocean Carrier Monopolies Exist Last week, U.S. president Joe Biden and members of his administration claimed that rising inflation in America was caused by Vladimir Putin’s aggressive actions in Ukraine. Biden explained his reasoning after the U.S. Labor Department published its Consumer Price Index (CPI) data for February. The data showed the CPI rose at the fastest rate in 40 years as the cost of consumer goods and services has continued to climb. A week later, as the Russia-Ukraine conflict continues Biden now insists shipping prices are contributing to America’s increasing inflation rates. The New York Times (NYT) reports U.S. president Biden has “pledged to try to lower costs” that he believes is dominated by foreign-owned ocean carrier monopolies. Biden mentioned that the industry has seen record profits and he supports “investigations into antitrust violations and other unfair practices.” Despite the number of warning signs published over and over during the last two decades, highlighting the evidence that quantitative easing (QE), government spending, and excessive stimulus are the culprits of inflation, Biden’s administration has not pointed the finger at America’s monetary system. US Inflation Plagues Millennials and Retirees With Fixed Incomes, Biden Insists Administration ‘Taking Steps to Lower Consumer Prices’ Meanwhile, many reports show Millennials are dealing with inflationary pressures for the first time and U.S. parents with children are struggling to make ends meet. Additionally, data shows America’s elderly and retirees with fixed incomes are suffering from the cost of higher prices as well. Statistics also specify that low-income U.S. residents are relying on “survival mode” as inflation has hit the demographic the hardest. Since 2020, the U.S. monetary system has expanded like no time in history, and data shows the ‘real value’ of the dollar has declined by 86% since 1972. As far as Biden’s crackdown on shipping prices, the NYT report explains that it is “unclear to what extent more government oversight and enforcement will actually bring down shipping costs.” It’s not the first time the White House has blamed high shipping costs on rising inflation as Biden’s administration published a fact sheet at the end of February called “Lowering Prices and Leveling the Playing Field in Ocean Shipping.” The fact sheet insists Biden’s administration “is taking steps to lower consumer prices” in ocean shipping. What do you think about Biden’s administration blaming inflation on shipping costs and the president’s plan to add government oversight to the shipping industry? Let us know what you think about this subject in the comments section below. View the full article

On Monday, the multinational investment bank and financial services company Goldman Sachs disclosed it has conducted an over-the-counter (OTC) crypto transaction with the digital currency firm Galaxy Digital. Following the OTC settlement, the head of digital assets for Goldman Sachs’ Asia Pacific unit, Max Minton, said the firm was pleased to have executed the bank’s “first cash-settled cryptocurrency options trade with Galaxy.” Wall Street Giant Goldman Sachs Conducts Crypto OTC Transfer With Galaxy Digital According to a few reports and a press release, the Wall Street giant Goldman Sachs (NYSE: GS) has completed an over-the-counter (OTC) cryptocurrency trade with Galaxy Digital, a crypto firm founded by Mike Novogratz in January 2018. Both firms are calling the transfer “a first-of-its-kind transaction by a major U.S. bank.” Essentially, the bank Goldman Sachs Group Inc. executed the first OTC crypto transaction in the form of a bitcoin non-deliverable option (NDO). Goldman Sachs and Galaxy have further detailed in the announcement that both companies have had an ongoing partnership. Galaxy notes that the OTC settlement is a “continuation of the bank’s partnership with Galaxy Digital to deepen its crypto capabilities.” Goldman Sachs has had an interesting relationship with cryptocurrencies and blockchain technology over the years. In January, former Goldman Sachs CEO Lloyd Blankfein said that his perspective on cryptocurrency is evolving. Not too long after Blankfein’s commentary, Goldman Sachs’ analysts warned that bitcoin (BTC) was susceptible to the Federal Reserve’s interest rate hikes. Galaxy Digital’s Head of Global Markets Believes ‘Transaction Will Open the Door for Other Banks’ As far as the OTC crypto settlement operation with Galaxy, Goldman executive Max Minton says the executed transaction is a milestone. In a press statement Minton said: This is an important development in our digital assets capabilities and for the broader evolution of the asset class. The announcement notes that Galaxy helped Goldman Sachs facilitate its first CME Group Inc. Bitcoin Futures transaction last year. Galaxy’s founder, Mike Novogratz, is a firm believer in the crypto economy, and in an interview published on Tuesday, he said: “bitcoin is a lifeline to people in countries with really poor stewardship of the economy.” Damien Vanderwilt, co-president and head of global markets at Galaxy Digital, thinks the transaction with Goldman Sachs will open new doors. “[We] expect the transaction to open the door for other banks considering OTC as a conduit for trading digital assets,” Vanderwilt said in a statement. “Goldman’s continuing trust in us is a testament to Galaxy’s expertise and ability to meet the evolving demands by institutions as crypto solidifies itself as the fifth asset class.” What do you think about Galaxy Digital and Goldman Sachs completing an OTC crypto transaction trading a bitcoin NDO? Let us know what you think about this subject in the comments section below. View the full article

While most digital currencies have seen gains during the last month, the meme token called shiba inu has lost more than 17% during the last 30 days. Despite the fact that shiba inu is down 72% from the crypto asset’s all-time high, shiba inu is still up 37,130% against the U.S. dollar over the last 12 months. However, since March 15, the number of shiba inu holders has dropped 3.55% from 1.19 million holders to 1.15 million over the last five days. SHIB Holders Slide 3.55% in 3 Days Interest in meme tokens is waning as the meme coin economy has lost significant value over the last six months. At the time of writing, the meme coin economy’s market valuation is $30.2 billion and a great majority of that value belongs to dogecoin (DOGE) and shiba inu (SHIB). Both of the top meme coin assets had a phenomenal year in terms of market performance but in recent times, SHIB and DOGE have continued to slide in value. Currently, shiba inu (SHIB) is down 5% over the last two weeks and over 17% during the last 30 days. Moreover, statistics indicate that the number of SHIB holders today is much less than it was five days ago as 3.55% of SHIB holders have left the meme coin’s ecosystem. Metrics from coinmarketcap.com and etherscan.io show the number of SHIB holders decreasing since March 15, 2022. Since that day, the number of SHIB holders (unique addresses) dropped from 1.19 million holders to 1.15 million. It’s not the first time SHIB holders dropped as the number decreased on January 27, but then regained momentum and continued to increase. The Top 10 Richest SHIB Addresses Command 64% of the Supply, Top 50 Own Over 78% With 1.15 million SHIB addresses, 14,645 of them have been active during the last 24 hours. Data stemming from intotheblock.com metrics show shiba inu (SHIB) has a significant concentration of large holders (whale count) with a score of 80%. In contrast, the leading crypto asset bitcoin’s (BTC) whale count is much lower, as BTC has a score of 11% in terms of the cryptocurrency’s concentration of large holders. Today, statistics indicate that the top ten richest SHIB addresses own 64.43% of the entire shiba inu token supply. The top 20 richest SHIB addresses control 71.72% of the entire SHIB supply and the top 50 richest addresses command 78.59% of the SHIB token supply. Again, to show the difference between two crypto assets, bitcoin’s richest ten addresses hold 5.59% of BTC’s supply and the top 50 addresses only hold 11.40% of the current BTC in circulation. While SHIB is up 37,130% against the U.S. dollar in a year’s time, only 40% of SHIB holders have profited at the current price level. Over the last seven days, SHIB users transacting with $100K or more in shiba inu moved $516.49 million worth of SHIB last week. SHIB is also very concentrated with the trading pair tether (USDT), as the stablecoin represents 61.39% of SHIB’s 24-hour trades. USDT is followed by USD (19.98%), BUSD (9.52%), TRY (6.75%), and DOGE (0.62%). The top six most active SHIB exchanges include Binance, Hitbtc, Digifinex, Kucoin, Huobi, and Crypto.com. What do you think about the number of SHIB holders dropping during the last three days? Let us know what you think about this subject in the comments section below. View the full article

The masterminds behind the alleged cryptocurrency Ponzi scheme called Bitstream Circle are believed to have stolen more than $10 million in investor funds. The alleged theft became apparent on March 13, 2022, when some of the scheme’s investors encountered problems making withdrawals. Withdrawals Blocked Reports from Kenya have said investors in an alleged crypto Ponzi scheme, Bitstream Circle, are now unable to withdraw funds following the scheme’s collapse. The reports add that the scheme’s masterminds may have made off with investors’ digital assets that are worth over $10 million. According to one report, the alleged Ponzi scheme was registered in the U.K. in November 2021 as Bitstream Circle Limited, and Chinese national Quin Yang is listed as the director. The report adds that the scheme had amassed over 11,000 members from across seven countries in less than four months. Most victims were apparently lured by the promise of a daily return on investment of between 5% and 8%, the report suggested. Fresh reports that Kenyans may have lost millions to yet another cryptocurrency scheme come shortly after a Kenyan government official claimed $120 million had been lost to similar scams in the past financial year. While many of the scheme’s investors now see Bitstream Circle as a scam, the platform’s early investors initially dismissed these allegations. However, as a report published by Kimani Capital on Linkedin explains, many investors, in fact, began experiencing problems withdrawing funds on March 13, 2022. A message from the administrator of Bitstream Circle’s telegram channel initially suggested that a network upgrade was the source of the problem. Yet after the so-called five-hour network upgrade was completed, investors could still not withdraw their funds. The Lure of Sizeable, Quick Returns Meanwhile, in a bid to back claims scammers may have stolen millions from unsuspecting investors, authors of a report published by Kimani Capital point to the more than 10 million USDT stablecoins that were received by an address allegedly controlled by the scammers. On Twitter, users have been sharing a screenshot purporting to show one of the masterminds mocking the victims. Other users lamented how young investors in particular continue to be duped by the promise of very high returns in a very short space of time. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

The new decree that makes official the recently announced Venezuelan minimum monthly wage rise has been revealed in the Official Gazette, with no mention of its supposed peg to the petro, the national cryptocurrency. The law published mentions that the wage will be 130 VES, using the national fiat currency as a unit of account, something that contradicts statements of the Venezuelan president. Official Gazette Reveals Real Salary Raise for Venezuelans The recent publication of the Oficial Venezuelan Gazette, a magazine where laws and decrees are published when approved, revealed the truth about the supposed peg that the minimum monthly salary had to the national crypto asset, the petro (PTR), after a recent increase. The decree published establishes this minimum payment in the fiat currency of the country and does not mention the petro anywhere. The Gazette 6,691, issued on March 15th, includes the decree 4.653, which states: The mandatory monthly national minimum wage is increased throughout the territory of the Bolivarian Republic of Venezuela, for workers who provide services in the public and private sectors… establishing the amount of one hundred and thirty bolivares (130.00 VES) per month. This contradicts the statements that the Venezuelan president Nicolas Maduro made earlier this month when he stated that the minimum wage would be raised to half a Petro, linking the value of this minimum monthly wage to the value of the crypto asset. Reactions and Explanations This decree and the lack of a peg between this minimum monthly wage originated reactions in people from the working sectors, who lamented the situation. One of them was the general coordinator of the National Front of the Working Class Struggle, Pedro Eusse, who mentioned this raise had been ”an immense disappointment when discovering that there is no such peg to the petro because that is not reflected in the Official Gazette.” Eusse further declared: They promised that they were going to anchor the salary to half a petro, which is an accounting measure that increases with oil prices. What we see now is a salary frozen at $30. However, Franklin Rondon, representative of the National Assembly, the legislative power entity in the country, declared that, in this case, the petro was just used as a unit of account, and that this doesn’t mean that the minimum wage will be increased every time that this crypto asset rises in value. What do you think about the decree that increases the minimum monthly wage in Venezuela and the absence of the Petro in it? Tell us in the comments section below. View the full article

A call to make the digital ruble a reserve currency has been issued in the State Duma, the lower house of Russia’s parliament. Meanwhile, concerns have been raised in the West that the new incarnation of the Russian fiat may be employed to evade sanctions that have been isolating the country. Digital Ruble to Serve as Reserve Currency, Lawmaker Suggests In the face of mounting Western penalties, officials in Moscow have been mulling over ways to circumvent restrictions that have already limited Russia’s access to its foreign reserves and the global financial market. Sergei Mironov, who leads the opposition ‘A Just Russia’ faction in the Duma, urged the federal government, the central bank, and the operational headquarters on countering sanctions to introduce the digital ruble, Russian media and Forklog reported. The high-ranking parliamentarian has been quoted as saying that the goal of the initiative is to issue the central bank digital currency (CBDC) for specific purposes like financing of housing and other construction projects, as well as development of production and transportation infrastructure. “The digital ruble should become a full-fledged investment and reserve currency for Russia,” Mironov elaborated. The deputy believes the CBDC will provide the Russian economy with needed funding without boosting inflation. The digital rubles cannot be deposited abroad or used for non-intended purposes, he added. Western allies fear Russia may use cryptocurrencies, including the digital version of the ruble, to evade sanctions imposed over its invasion of Ukraine and have taken steps to close the loopholes. Recent statements by another lawmaker, and member of the crypto regulatory working group, Alexander Yakubovsky, indicated that Russia is interested in using digital currencies to restore its access to global finance. The Central Bank of Russia (CBR), a strong opponent of legalizing cryptocurrencies, has been actively developing the digital ruble project. The monetary authority began contemplating a CBDC three years ago. A consultation paper was published in October 2020 and in April 2021, the bank released a digital ruble concept outlining its principal architecture. Testing of the digital ruble platform began this year with the CBR announcing the first complete transactions between individual wallets in mid-February. A dozen Russian banks will participate in the trials expected to continue throughout 2022. Bank of Russia insists its digital currency will create new opportunities for Russian citizens, businesses, and the state. The Russian Federation has also been trying to limit its dependence on the U.S. dollar. Last October, the Ministry of Foreign Affairs hinted that it’s possible to partially replace the greenback in Russia’s currency reserves and trade settlements with other currencies and even digital assets in the future. Do you think Russia will be able to use the digital ruble as a reserve currency and to evade sanctions? Share your thoughts on the subject in the comments section below. View the full article

Metametaverse, a company whose purpose is the integration and interoperation of different metaverses, has already secured funding of $2 million for this idea. Joel Dietz, the founding father of this initiative and also from the uber-popular wallet Metamask, has stated this task might be achieved by building a common pool of assets and experiences through a Level 1 blockchain like Ethereum or Bitcoin. The Metaverse Interoperability Question The idea of the Metaverse linked to digital experiences and token economies is relatively new, and just now hundreds of companies are building their own version of the metaverse. Be it a work-related environment, or a gaming-focused world, all of these metaverses have their place as an application of the technology. Metametaverse, a company founded by Joel Dietz, one of the founder architects of Metamask, wants to provide a tool to make all these metaverses interoperable and available for users to enjoy. For this task, Metametaverse proposes a Layer 1 blockchain in the same fashion that Ethereum or Bitcoin, but with a different purpose, which is to serve as a metadata pool to connect different experiences in the metaverse. The company already has 25 people working towards this task and its scope includes a language to create metaverses and to communicate them even while residing in other blockchains, which would make it blockchain agnostic. In an interview with Venturebeat, Dietz explained this task would be like reinventing the internet’s Domain Name System (DNS), which is the addressing system for finding things on the internet. But this would be a coordinate system for complex 3D objects that live in a 3D space. Metametaverse Resources and Future This idea of interconnected metaverses has managed to get traction from investors, that have put funds behind the prospect of Metametaverse. The company raised $2 million from several investors in December, being backed by DAO Maker, Ghaf Capital, Decasonic, Metaverse Group, and others. Dietz believes the concept of the metaverse will keep growing and overcome cryptocurrency in size and importance in the coming years. Some organizations like Grayscale also seem to point in this direction, estimating that the metaverse will be a trillion-dollar yearly revenue opportunity. On the role that his initiative might have in this profiled future, Dietz stated: In 30 years every building in every city will be designed and sold in the metaverse. We are building the protocol that will allow the higher-end assets and clear business use cases to be supported. What do you think about Metametaverse’s proposal for linking interoperable metaverses? Tell us in the comments section below. View the full article

Since the token was launched roughly three days ago, the digital currency apecoin (APE) has been a topical conversation within the cryptocurrency community on forums and social media. So far, just over 82% of the claimable APE has been claimed and 13,672 unique addresses have received APE from the airdrop. Meanwhile, the Bored Ape Yacht Club (BAYC) creators have shared a video showing a BAYC metaverse with an assortment of other popular non-fungible token (NFT) characters. Eligible Claimants Ape Into the Apecoin Airdrop, More Than 82% of Claimable APE Has Been Acquired This week, there’s been a lot of focus on a new crypto asset called apecoin (APE) as it was introduced on March 17, 2022, by the Apecoin DAO. Bitcoin.com News reported on the Apecoin DAO and explained how millions of apecoin tokens were airdropped to NFT owners. More specifically, Apecoin DAO disclosed that “15% of the total supply of apecoin will be made available to [Bored Ape Yacht Club] NFT holders (Bored Apes and Mutant Apes, as well as BAKC dogs paired with either BAYC or MAYC).” At the time of writing, 82.25% of the claimable 15% of apecoins has been acquired by NFT owners. 15,182 unique addresses are eligible to claim APE and to date, 13,672 addresses have claimed tokens. Currently, apecoin (APE) has been hovering within the top 100 coin market caps today with a market valuation of $1.53 billion. In the grand scheme of the entire $1.9 trillion crypto economy APE represents 0.08% of that value. On Saturday, APE has seen close to $2 billion in global trade volume with Binance being the top exchange in terms of APE trade volume. Yuga Labs Teases Metaverse Video With Popular NFT Characters, Animoca Brands Hints at Apecoin Secret Project While NFT owners claim the rest of the APE that can be claimed and traders swap APE on exchanges, Yuga Labs has teased a video concerning the coin’s use case. “See you on the Otherside in April. Powered by @apecoin,” Yuga Labs’ statement accompanying the video explained. The video showcases a Bored Ape drinking a magic potion that brings him to a different world filled with other NFT characters. See you on the Otherside in April. Powered by @apecoin pic.twitter.com/1cnSk1CjXS — Yuga Labs (@yugalabs) March 19, 2022 As the popular song by the Doors “Break on Through” plays in the background, the star BAYC character in the video is greeted by a submarine-like vehicle filled with NFTs that include Cryptopunks, Cryptoadz, Nouns, Mutant Ape Yacht Club (MAYC), Cool Cats, World of Women (WoW), and Meebits characters. On March 17, Animoca Brands tweeted that it had something up its sleeve in regard to apecoin (APE). The company stated: Animoca Brands is excited to announce that we’ll be adopting [apecoin] for the secret project we’ve been developing with [Bored Ape Yacht Club]. Animoca Brands also left a link with the tweet to a URL called somethingisbrewing.xyz where people can register. The web portal showcases similar visuals that can be found in the recently teased Yuga Labs’ video. Visitors who want to register need to leverage the Metamask wallet but also get KYC-verified via Blockpass. The company is a KYC & AML screening software-as-a-service firm dedicated to crypto assets and decentralized finance (defi). The blockchain firm Animoca Brands revealed its collaboration with Blockpass in September 2021 when the company stated it was leveraging the firm’s KYC tool to “verify NFT prize winners.” Yat Siu, the co-founder and chairman of Animoca Brands, said Blockpass technology can bring a “higher level of compliance” to the NFT ecosystem. What do you think about apecoin and the recent video teaser published by Yuga Labs? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. INTERNET CITY, DUBAI, Mar. 20th, 2022 – LBank Exchange, a global digital asset trading platform, will list Litedex (LDX) on March 23, 2022. For all users of LBank Exchange, the LDX/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on March 23, 2022. Decentralized Exchange (DEX) Protocol is a blockchain-based financial system designed to provide an open financial service that is transparent without intermediaries, permissions and available to everyone without a centralized authority. As a decentralized exchange protocol, Litedex (LDX) aims to adopt the world’s most popular blockchains including BSC, ETH, HECO, Polygon, Tron, Polkadot, and Solana, providing products and services such as Swap, Staking, Farming, Analytics, Lending, Borrowing, NFT, and Bridge. Its native token LDX will be listed on LBank Exchange at 16:00 (UTC+8) on March 23, 2022, to further expand its global reach and help it achieve its vision. Introducing Litedex Protocol Litedex Protocol is the first Decentralized Exchange Platform in Indonesia that carries the Meta Finance concept. Litedex Protocol with homepage http://litedex.io develops various projects that are favorites of investors, such as Staking, Farming, Swap, Pool, Lending, Borrowing, NFT Marketplace, and Bridge features. Litedex Protocol has the ambition to adopt multiple Blockchains, such as BSC, Ethereum, Solana, Avax, and several other globally popular Blockchains. This strategy is very important to activate the Bridge feature as the main foundation in the Meta Finance concept. As a Blockchain Developer, Litedex Protocol is also developing LDX Token as a cryptocurrency with promising underlying projects and a big ecosystem. To increase investor confidence, Litedex Protocol is committed to auditing all its projects at CERTIK. Several projects that have gone through the Certik audit stage with very satisfactory results are LDX Token. Chief Executive Officer of Litedex Protocol, Andrew Suhalim said, “The LDX Token will soon be listed on the Global Centralized Exchange at the end of the first quarter, one of them is LBank. In addition, the Staking feature will also be activated in the same quarter, before listing. This Listing stage is carried out after the LDX Token undergoes the Initial Litedex Offering (ILO) stage.” Litedex Protocol is the first platform that was actually developed by IT engineer from Indonesia, without involving third parties from other countries. This fact has made Litedex Protocol supported by the Deputy Minister of Trade of Indonesia, Jerry Sambuaga. On several occasions, Jerry confirms his support for the Litedex Protocol which is expected to compete with other global Decentralized Exchanges. Not only that, with its projects, Litedex is expected to boost the credibility of IT engineers from Indonesia in front of global investors. Along with the presence of technology in the Metaverse era, Litedex Protocol positions itself as ‘The Bridge of Metaverse Wealth’. With this tagline, Litedex always innovates and adapts quickly to rapid technological developments. Andrew Suhalim added, “Litedex have two business model. B2C Model, as our goal is to build an ATM & banks in the metaverse for users to be able to bridge their token from one blockchain to another blockchain in a seamless experience without existing metaverse dimension. B2B is our 2nd Business model where we would sell & affiliates our Meta Finance backbone infrastructure into their metaverse project. Therefore, their metacommunity is able to transact in their metaverse without putting an effort on generating liquidity on every blockchain and re-building their multi and cross bridges again.” Litedex Goals is to create a multi and cross-blockchain in our platform. Litedex has now completed our first defi blockchain in Binance Smart Chain and Litedex is currently in process of finalizing the token smart contract on Ethereum Blockchain. Andrew said, “Though we will have multiple Defi blockchain products in Litedex, it is very important for our holders to understand that our holder is not just investing on a Decentralized exchange or a mere decentralized finance token project.” LDX holder is indeed investing in a Meta Finance Blockchain System Integrator, as Litedex believe the moment metaverse becomes a reality, the project of Litedex will help metaverse user to bridge their token in the metaverse world seamlessly. About LDX Token LDX token is a governance token built on the BSC blockchain network, created to build the DeFi ecosystem and deliver rights to all LDX holders to also manage the platform through the voting mechanism, as well as providing additional benefits to the token holders The initial token supply of LDX token is 500 million (i.e. 500,000,000), 18% of it is provided for private sale, 12% is provided for public sale, 10% will be used for research and development, 30% is provided for partnership and ecosystem, 24% is allocated to the foundation, 2% is provided for the bug bounty program, another 2% is provided for smart contract insurance, and the rest 2% is provided for community airdrop. Additionally, LDX has a burn mechanism that keeps the token deflationary. LDX will be listed on LBank Exchange at 16:00 (UTC+8) on March 23, 2022, investors who are interested in Litedex Protocol investment can easily buy and sell LDX on LBank Exchange by then. The listing of LDX on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market. Learn More about LDX Token: Official Website: https://litedex.io Telegram: https://t.me/litedexprotocol Twitter: https://twitter.com/litedexprotocol Instagram: https://instagram.com/litedexprotocol Facebook: https://www.facebook.com/LitedexProtocol Snapshot: https://snapshot.org/#/?q=litedex About LBank Exchange LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world. Start Trading Now: lbank.info Community & Social Media: l Telegram l Twitter l Facebook l Linkedin Contact Details: LBK Blockchain Co. Limited LBank Exchange media@lbank.info This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

The Australian Competition and Consumer Commission has filed a lawsuit against Meta, formerly Facebook, for “publishing scam advertisements featuring prominent Australian public figures.” The regulator said, “The essence of our case is that Meta is responsible for these ads that it publishes on its platform.” Meta Sued for Publishing Cryptocurrency Scam Ads The Australian Competition & Consumer Commission (ACCC) announced Friday that it has taken legal action against Meta Platforms Inc. (formerly Facebook) and Meta Platforms Ireland Ltd. Australia’s competition regulator alleges that the companies “engaged in false, misleading or deceptive conduct by publishing scam advertisements featuring prominent Australian public figures” on Facebook. The ACCC alleges Meta’s conduct “was in breach of the Australian Consumer Law (ACL) or the Australian Securities and Investments Commission Act (ASIC Act).” In addition, the regulator noted: It is also alleged that Meta aided and abetted or was knowingly concerned in false or misleading conduct and representations by the advertisers. The ACCC explained that the ads “promoted investment in cryptocurrency or money-making schemes.” They featured well-known people, such as “businessman Dick Smith, TV presenter David Koch and former NSW Premier Mike Baird,” the ACCC noted, adding that Facebook users were led to believe these scams were genuinely associated with these celebrities. ACCC Chair Rod Sims said: The essence of our case is that Meta is responsible for these ads that it publishes on its platform. The competition regulator said Meta was aware of the cryptocurrency scam ads on Facebook but did not take sufficient steps to address the issue even after the company received complaints from the celebrities whose names and images were used without consent. The ACCC is seeking “declarations, injunctions, penalties, costs and other orders,” the regulator detailed. Do you think Meta should be held accountable for allowing crypto scam ads on Facebook? Let us know in the comments section below. View the full article

Former U.S. Congressman Ron Paul says he still believes that the government could outlaw bitcoin mainly because he is “influenced a whole lot by history and the gold history.” Despite his warning, Paul stressed that crypto “should be obviously permitted.” Ron Paul Discusses Bitcoin as Interest in Crypto Rises Former presidential candidate Ron Paul discussed the future of bitcoin and the economic impact of the Russia-Ukraine war in an interview with Kitco news’ Michelle Makori Thursday. Paul is an American author, physician, and retired politician. The former representative from Texas launched The Ron Paul Liberty Report in 2015 to bring “provocative opinion and analysis to the breaking issues affecting our lives and finances,” its website details. The former congressman has repeatedly warned that the government could crack down on bitcoin. “My concern is that governments over centuries have been notoriously very eager to have control of the money. Believe me, they will not give up control of money,” he described. However, interest in bitcoin has soared recently with more institutional investors supporting the ecosystem. This week, the Ukrainian government created a legal framework for cryptocurrency following the invasion by Russia. It also set up an official crypto donation website. Moreover, BTC is currently legal tender in El Salvador. Paul was asked if he still believes that bitcoin is at risk of being outright banned or outlawed. He replied: Yeah, I do, mainly because I’m influenced a whole lot by history, and the gold history, and my interest in studying money and some of the principles that Austrian economics teaches about what the nature of money should be. Nonetheless, Paul emphasized: But that doesn’t sway me from arguing the case for those who know about crypto, who understand it better than I do, that it should be obviously permitted. But a lot of people don’t understand it so I would be cautious. He further shared: “I’ve been trying to figure out, is [bitcoin] more like a stock or a bond or a hard asset commodity. Right now, I would say, looking at different statistics, it seems to trace stock prices.” In June last year, the former congressman said he wants bitcoin to be totally legalized to compete with the U.S. dollar and let the people decide. “My goal is to legalize the competition and the people will sort it out. Freedom of choice will sort it out,” he opined. What do you think about Ron Paul’s comments? Let us know in the comments section below. View the full article

A class-action lawsuit has been filed against the Nasdaq-listed cryptocurrency exchange Coinbase alleging that the platform lets customers trade 79 cryptocurrencies that are unregistered securities, including XRP, dogecoin (DOGE), and shiba inu (SHIB). Lawsuit Claims Coinbase Sold 79 Unregistered Crypto Securities to Customers A class-action lawsuit was filed last week against Coinbase Global Inc., Coinbase Inc., and CEO Brian Armstrong. Lead plaintiffs and Coinbase users Christopher Underwood, Louis Oberlander, and Henry Rodriguez allege that from Oct. 8, 2019, to the present, Coinbase let customers buy and sell 79 different cryptocurrencies without disclosing that they are in fact securities. The plaintiffs added that these crypto securities are not registered with the U.S. Securities and Exchange Commission (SEC) or any state regulators, and Coinbase is not registered as a securities exchange or a broker-dealer. The plaintiffs claim that “Coinbase’s sale of these tokens violates both federal and state law.” The class covers all persons or entities who transacted any of the 79 crypto tokens on Coinbase or the Coinbase Pro platform during the class period. Without registering these crypto assets with the SEC and state regulators, the plaintiffs said: Purchasers do not have access to the disclosures that accompany the issuances of traditional securities. Rather, investors receive — at most — only the so-called whitepapers, which describe the token, but do not satisfy the requirements for a prospectus under federal and state securities laws. The 79 cryptocurrencies named in the lawsuit are 1INCH, AAVE, ACH, ADA, AGLD, ALGO, AMP, ANKR, ARPA, ATOM, AUCTION, AXS, BAL, BAND, BAT, BNT, BOND, BTRST, CGLD, CLV, COMP, CRO, CRV, CTSI, CVC, DNT, DOGE, DOT, ENJ, EOS, FARM, FET, FIL, FORTH, GNT, GRT, GTC, ICP, IOTX, KEEP, KNC, LINK, LOOM, LRC, MANA, MATIC, MKR, MLN, NKN, NMR, NU, OGN, OMG, ORN, OXT, PLA, POLY, QNT, QUICK, RARI, REN, REP, RLC, SHIB, SKL, SNX, SOL, STORJ, SUSHI, TRB, TRIBE, UMA, UNI, XLM, XRP, XTZ, XYO, YFI, ZRX. The lawsuit cites SEC Chairman Gary Gensler several times. The SEC chief said on several occasions that there is not enough investor protection in the crypto sector. He also stressed that some platforms list 50 to 100 tokens, some of which are likely to be securities. However, the SEC has not been actively clarifying which cryptocurrencies it considers securities. In December 2000, the Commission sued Ripple Labs and two executives over the sale of XRP which it said were unregistered securities. Ripple maintains that XRP is not a security; the lawsuit is still ongoing. According to Coinbase’s class-action lawsuit document: This case is a class action where the aggregate claims of all members of the proposed classes exceed $5,000,000, exclusive of interest and costs. The plaintiffs seek to “recover damages, consideration paid for tokens, and trading fees, together with interest thereon, as well as attorneys’ fees and costs, to the fullest extent permitted by law.” What do you think about this lawsuit? Let us know in the comments section below. View the full article

On Friday, Universal Music Group’s Web3 label dubbed 10:22PM revealed it purchased the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) #5537 for more than $360,000. 10:22PM says that BAYC #5537 will become the female manager for the first-ever metaverse group. UMG’s 10:22PM Acquires Bored Ape #5537 for 125 Ether Universal Music Group (UMG) and the firm’s Web3 label 10:22PM explained on Friday that the metaverse group called KINGSHIP now has a new manager. 10:22PM acquired the Bored Ape Yacht Club (BAYC) NFT #5537 for more than $360,000 or 125 ETH at the time of settlement. In addition to being identified as Bored Ape #5537, the Web3 label noted that the female character will be KINGSHIP’s manager and will be called “Manager Noët All.” UMG revealed the Web3 label 10:22PM and the KINGSHIP group in mid-November 2021. Interestingly, on the same day, the hit record producer professionally known as Timbaland announced the launch of a BAYC entertainment label called Ape-In Productions (AIP). The metaverse group KINGSHIP includes a Mutant Ape Yacht Club (MAYC) NFT and three Bored Ape NFTs. The announcement discloses that in addition to purchasing the latest BAYC, KINGSHIP’s official website and Discord have been launched. The new site and Discord channel aim to “provide fans and the collector community with information about the group’s activities, new developments including access to the allowlist and future activations.” UMG has been delving into NFT technology quite a bit this year, as the company revealed a partnership with the NFT marketplace Curio in mid-February. At the time, the entertainment giant said it had plans to showcase NFTs tied to the firm’s many music labels and hit recording artists. During the first week of March, UMG announced a partnership with Billboard and the Flow blockchain. 10:22PM’s Founder Says Manager Noët All Will Help Drive the Storyline Friday’s announcement explains that KINGSHIP was created by 10:22PM’s founder Celine Joshua. “We have been incredibly busy developing KINGSHIP since our initial announcement and I’m so excited to introduce Manager Noët All, one of many new characters that will be joining the KINGSHIP universe,” 10:22PM’s founder explained in a statement sent to Bitcoin.com News on Friday. 10:22PM’s Celine Joshua added: As the manager of the group, Manager Noët All will help drive the storyline and allow us to communicate with the community. We hope to make the KINGSHIP universe as entertaining and immersive as possible, while simultaneously building value for holders. 10:22PM’s founder further explained that now that the Discord channel is open, the KINGSHIP community can tune in to get updates and interact with other community members. “Stay tuned, there’s so much to come,” 10:22PM’s founder further remarked. On the NFT marketplace Opensea, 10:22PM’s founder goes by the name “Celinethethird,” according to the Opensea profile attached to the ethereum address “0x8Ad.” The address also leverages the ENS domain “1022pm.eth,” and it holds a significant number of NFTs. At the time of writing, 1022pm.eth owns 105 NFTs from 45 different collections. While 1022pm.eth is a fan of BAYC and MAYC NFTs, the address also holds Doodle #5707, Bored Ape Kennel Club NFTs, World of Women (WoW) NFTs and Invisible Friends #276. The entire BAYC and MAYC ecosystem has seen a lot of demand during the last two weeks after the NFT’s creators announced the acquisition of the Cryptopunks and Meebits intellectual property (IP). Yuga Labs decided to give the commercial rights to the NFTs to the NFT holders. In addition, the community recently saw the Apecoin launch this week and the creation of the Apecoin DAO. What do you think about the UMG and 10:22PM announcement about the purchase of Bored Ape #5537? Let us know what you think about this subject in the comments section below. View the full article

As cryptocurrencies, bitcoin, decentralized finance (defi), and non-fungible token (NFT) technology experienced extreme growth during the last year, interest in crypto tattoos has risen a great deal. According to a recent study published by Crypto Head, searches for tattoos related to cryptocurrencies jumped 222% over the last year. Study Shows a Growing Interest in Crypto and Bitcoin Tattoos A report published by Crypto Head and shared with Bitcoin.com News indicates that people have been more interested in getting crypto-related ink done than last year. Crypto Head’s study analyzed Google search volume and Instagram hashtag data, which show interest in crypto tattoos has risen 222% during the last 12 months. According to the research findings, 1,900 queries involved the search term “crypto tattoo.” Love my #Bitcointattoo……thinking about some $ADA tat..too💪😉 pic.twitter.com/lnlFnISt7M — Crypto Chris (@Bitcoin1Network) March 6, 2021 “Bitcoin tattoo,” on the other hand, saw 1,600 search queries over the last 12 months and “dogecoin tattoo” had 700 searches. Meanwhile, the second-largest crypto asset, in terms of market capitalization, ethereum (ETH) had the least amount of tattoo-related queries. In addition to leveraging Google search data, Crypto Head researchers looked at metrics stemming from Instagram as well. I’m officially a Lunatic!!! Thanks @stablekwon And thank you my friends at Smith Street Tattoos. pic.twitter.com/2wfc00loDs — Mike Novogratz (@novogratz) January 5, 2022 Findings from the report show that bitcoin (BTC) tattoo-related themes reign on the social media application Instagram with 986 posts adorned with the hashtag “#bitcointattoo.” Roughly 956 Instagram posts had the hashtag “#cryptotattoo” in the post and only 11 posts contained the hashtag “#dogecointattoo.” Once again, the hashtag “#ethereumtattoo” was the least recorded hashtag on Instagram with only six posts in total. In addition to the research published by Crypto Head, other social media platforms like Facebook and Twitter, show a number of posts with the hashtag “#cryptotattoo.” The hashtag “#bitcointattoo” is also very relevant on social media platforms like Twitter as a slew of individuals have shared pictures of their Bitcoin-themed ink over the last few years. What do you think about the growing interest in crypto and bitcoin-themed tattoos? Let us know what you think about this subject in the comments section below. View the full article

Privatbank, the largest commercial bank in Ukraine, has temporarily halted transfers in national currency to digital asset exchanges. The financial institution explained the move with restrictions imposed by the country’s central bank under the current martial law. Leading Bank in Ukraine Bans Clients From Sending Hryvnia to Crypto Trading Platforms Ukraine’s largest bank in terms of assets, Privatbank, has prohibited its clients from transferring funds in Ukrainian hryvnia, the national fiat currency, to exchanges trading cryptocurrencies. The temporary ban has been introduced on March 16. According to a statement, quoted by the crypto news outlet Forklog, the measure stems from a resolution issued by the National Bank of Ukraine (NBU) on Feb. 24, the day when Russia launched its military invasion of the country. Although it does not specifically mention crypto-related transactions, the document regulates the operation of the banking system under martial law and introduces stricter rules for bank operations. For example, cash withdrawals were limited to 100,000 hryvnia (approx. $3,400) daily and the hryvnia’s exchange rate was fixed. Banks are prohibited from carrying out cross-border transfers of currency from Ukraine on behalf of clients, Privatbank explained in its announcement. Transferring funds for use on cryptocurrency exchanges is no exception, the bank elaborated. The report notes that Binance, the world’s leading crypto exchange by trading volume, has confirmed the news of Privatbank’s decision regarding hryvnia deposits. The company is warning users that other banks may do the same and recommending they turn to peer-to-peer trading. Ukraine has been accepting crypto donations to fund its defense efforts in the face of advancing Russian forces and addressing growing humanitarian needs. The ban comes despite President Volodymyr Zelenskyy signing this week the country’s new law “On Virtual Assets.” You can support Ukrainian families, children, refugees, and displaced people by donating BTC, ETH, and BNB to Binance Charity’s Ukraine Emergency Relief Fund. Do you think other Ukrainian banks will impose similar restrictions? Share your expectations in the comments section below. View the full article

Dubai’s Virtual Asset Regulatory Authority has licensed two cryptocurrency exchanges: Binance and FTX. The regulator was formed last week when Dubai approved its first law to regulate crypto assets. Dubai Licenses Binance and FTX Cryptocurrency exchanges FTX and Binance have been licensed by Dubai’s Virtual Asset Regulatory Authority (VARA). The regulator was established last week when the first law to regulate crypto assets was adopted in Dubai. Binance announced Wednesday: We have been granted a virtual asset license from Dubai’s Virtual Asset Regulatory Authority (VARA). With this license, “Binance will be able to operate within Dubai’s ‘test-adapt-scale’ virtual asset market model as a base for expansion into the region,” the company explained. “All licensed VARA service providers will be monitored progressively to open access to the retail market,” Binance noted, adding that in the future, it “will be permitted to extend limited exchange products and services to pre-qualified investors and professional financial service providers.” Binance further revealed: In addition to exchange operations, Binance will anchor a blockchain technology hub in the Dubai World Trade Centre. This week, Binance also said that it has obtained a full license from the central bank of Bahrain. The Dubai Virtual Asset Regulatory Authority has also approved the European arm of FTX exchange. The company said earlier this week that FTX Europe & MENA has become the first crypto exchange to obtain a license from VARA “to establish and operate its virtual asset (VA) exchange and clearinghouse services in Dubai, United Arab Emirates (UAE).” FTX detailed: As an anchor within Dubai’s programme to drive progressive global VA regulatory frameworks, FTX Europe becomes the first fully regulated VA exchange to trial complex crypto derivatives dedicated to professional institutional investors within a reputed international jurisdiction. FTX CEO Sam Bankman-Fried commented: FTX is proud to be the first licensee under Dubai’s prudential supervision regime. Similar to Binance, FTX explained that the license allows it “to operate within Dubai’s ‘test-adapt-scale’ VA market model which has rigorous regulatory oversight and mandatory FATF [Financial Action Task Force] compliance controls.” What do you think about Binance and FTX expanding in Dubai? Let us know in the comments section below. View the full article

U.S. Senator Elizabeth Warren and 10 other lawmakers have introduced the “Digital Asset Sanctions Compliance Enhancement Act of 2022.” The bill “would place sweeping restrictions on persons who build, operate, and use cryptocurrency networks even if they have no knowledge or intent to help evade sanctions,” an expert said. Lawmakers Unveil Digital Asset Sanctions Compliance Enhancement Act U.S. Senator Elizabeth Warren introduced a bill titled “Digital Asset Sanctions Compliance Enhancement Act of 2022” during a Senate Banking Committee hearing Thursday. The bill is co-sponsored by 10 other Democratic senators, including Mark Warner, Jack Reed, and Jon Tester. The aim of the bill is “to ensure that Vladimir Putin and Russian elites don’t use digital assets to undermine the international community’s economic sanctions against Russia following its invasion of Ukraine,” the senators explained in a joint press release. Noting that the bill will “strengthen our sanctions program and close off any avenues for Russian evasion,” Senator Warren claims: Putin and his cronies can move, store, and hide their wealth using cryptocurrencies, potentially allowing them to evade the historic economic sanctions the U.S. and its partners across the world have levied in response to Russia’s war against Ukraine. However, many people have pointed out that cryptocurrency will not help Russia evade sanctions, including FBI Director Christopher Wray, who said last week that the Russians’ ability to circumvent sanctions with cryptocurrency is “highly overestimated.” Carol House, the director of cybersecurity for the National Security Council, recently said that crypto is an ineffective tool to circumvent sanctions. The Digital Asset Sanctions Compliance Enhancement Act would enable the president to sanction foreign crypto firms doing business with sanctioned Russian entities, prohibiting their transactions with U.S. persons and blocking their assets. It would also give the Treasury secretary clear authority to prohibit crypto platforms and transaction facilitators operating in the U.S. from transacting with any Russian crypto users. The Treasury will be required to identify foreign crypto trading platforms that are deemed high risk for sanctions evasions and money laundering. The bill would also require U.S. taxpayers to report any offshore crypto transactions exceeding $10K. Jerry Brito, executive director of D.C.-based think tank Coin Center, explained that the bill “would place sweeping restrictions on the cryptocurrency ecosystem under the guise of bolstering sanctions against Russia for its unjustified invasion of Ukraine.” He detailed: The bill would place sweeping restrictions on persons who build, operate, and use cryptocurrency networks even if they have no knowledge or intent to help evade sanctions. According to the text of the bill, the term “digital asset transaction facilitator” is defined as “any person, or group of persons, that significantly and materially facilitates the purchase, sale, lending, borrowing, exchange, custody, holding, validation, or creation of digital assets on the account of others, including any communication protocol, decentralized finance technology, smart contract, or other software, including open-source computer code.” Noting that “miners, node operators, smart contract developers, etc.” would be subject to sanctions under Senator Warren’s new bill, Brito stressed: [The bill] calls for sanctioning technologists and users merely for the act of publishing open source software or facilitating communication among network participants. This is unnecessary, overbroad, and unconstitutional. What do you think about the Digital Asset Sanctions Compliance Enhancement Act? Let us know in the comments section below. View the full article

Luno cryptocurrency exchange recently announced the launch of an investment arm, Luno Expeditions, whose objective is to invest in fintech, crypto, and Web3 startups globally. The investment arm will target digital assets and later-stage companies starting from Series A upwards. Funding Over 200 Startups per Year One of Africa’s pioneering cryptocurrency exchanges, Luno, recently announced the launch of an early-stage investment arm whose objective is to back fintech, crypto, and Web3 startups. Known as Luno Expeditions, the investment arm is expected to fund somewhere between 200 to 300 startups each year, a report has said. According to a report by Techcrunch, CEO Jocelyn Cheng will lead the all-female team of five at Luno Expeditions. The report added that Barry Silbert, the founder and CEO of Digital Currency Group (DCG), and Marcus Swanepoel of Luno, will be a part of the new venture capital company’s Investment Committee. Also in the report, Cheng — who has previously held investing roles at CPP Investments, Bain Capital, and Goldman Sachs — is quoted distinguishing the new venture’s role from that of DCG. “Luno Expeditions will focus on the group’s early-stage investing in equity and convertible rounds,” Cheng said. She also clarified that the venture capital company will continue to invest in crypto assets and later-stage companies starting from Series A upwards. The CEO opined that there are “very few truly global and very early-stage fintech funds” that are currently operational, hence an opportunity to build one currently exists. She also noted that there is a strong convergence between some fintechs and crypto. Still, Cheng reckoned that the infrastructure still needs to be built, saying: There is still a lot of work to be done in building the infrastructure that crypto will rely on. So our aim is to be supportive of this broader ecosystem. So what this practically means is we will invest in fintech companies that we feel match that long-term thesis, not just any fintech company. Meanwhile, the report said Luno Expeditions will invest between $50,000 and $250,000 in each startup, and this translates to total funding that ranges between $15 million and $75 million per year. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Optimism, an L2 (Layer 2) rollup solution for Ethereum, has raised $150 million in its Series B funding round coming from big companies in the venture capital (VC) scene. The funding round was led by A16z and Paradigm, with the former also having invested during the previous funding round. The scaling solution reached a valuation of $1.65 billion with this fund injection, reaching well above unicorn status. Optimism Gets Backing to Keep Growing Optimism, a solution that allows for transacting on Ethereum with low fees, has scored a $150 million investment in its Series B funding round. The round, that was co-led by A16z and Paradigm, caused the organization to reach a valuation of $1.65 billion, being one of the most valuable L2 Ethereum expansion layers. VCs are considering the relevance that these scaling technologies have for the future of Ethereum. While Ethereum fees have been relatively low recently, during the recent bull market, this was almost never the case. To appease users not wanting to take the hit of paying these sometimes exorbitant fees, L2 solutions rose to the spotlight. Optimism is one of these solutions, based on Optimistic rollups that take L1 (Layer 1) data to process it in batches in L2, to then return this abbreviated data to Ethereum. According to numbers offered by the company, Optimism has already saved its users $1 billion in gas fees, and has over $469 million in TVL (total value locked) on its platform, being the fourth-biggest rollup in this regard, per L2beat statistics. Expansion via Hiring and Advancements Optimism informed users via a blog post about how the funds would be directed. The company is planning to hire more people to complete its already sizeable team in order to keep delivering features. Optimism has 18 job offerings currently open across several departments, ranging from software development-related jobs to finance openings. This latest funding injection comes on the heels of the company’s Series A funding round, where the company raised a $25 million investment that was also led by A16z. The company praised Optimism, noting that its “close adherence to Ethereum development paradigms results in a very easy transition for developers, wallets, and users: no new programming languages, minimal code changes to existing contracts required.” What do you think about the latest $150 million funding round for Optimism? Tell us in the comments section below. View the full article

PRESS RELEASE. Dacxi, the world’s leading Crypto Wealth Platform, released a comprehensive report titled ‘The State of Crypto Education 2022’. Based on the results of an extensive survey, the report points to the severe lack of appropriate crypto education for everyday people and its impact on their willingness to engage in the market. The report includes data surveyed from 2,000 Australians and 3,000 Britons. Almost 62% of the respondents were male, and 78.7% were over 45. Throughout the survey, several trends emerged. One was the changing attitudes to traditional wealth-building investments. Almost 33% of respondents reported they were either dissatisfied or very dissatisfied with conventional assets such as property, stocks, and shares. Conversely, interest in building wealth through crypto was clear – with almost 34% of those surveyed highlighted ‘how to build wealth with crypto’ as the topic they most want to learn about. This indicates a growing shift in focus away from traditional assets and towards digital assets such as crypto. However, the report’s most significant finding was the importance of crypto education – and the current lack. When it comes to crypto, 60% of those surveyed identified themselves as ‘not very’ or ‘not at all knowledgeable. A massive 43.35% of those surveyed believed they lack the information and knowledge they need to engage with crypto successfully. The report also indicated education’s impact on their willingness to enter the market. In Dacxi’s survey, 28.5% answered that lack of knowledge was the number 1 factor holding them back, and a further 29.32% stated that it was very much part of their consideration set. This means more than 57% are avoiding investing in crypto simply due to a lack of education about the topic. It is believed that the next wave of crypto buyers will have an average age of 44 and an average household income of $107,000 a year. With the audience for crypto changing from tech-savvy millennials to everyday people, simple and accessible educational resources are set to become even more critical. “This new research has highlighted that the lack of education aimed at retail investors is the main reason investors do not invest in crypto-assets,” says Gisa Ellis, Head of Learn for Dacxi. “Crypto platforms that prioritize education while making it easy and fun for anyone to learn will give people a better chance at building their crypto wealth.” The research illustrates that, despite the burgeoning interest in crypto-assets across the globe, there is still very little structured education aimed at everyday people. In the future, Dacxi believes a healthier market will require better education among the public and a better understanding of the purpose cryptocurrencies serve in the global financial ecosystem. As Ellis explains, Dacxi has already begun work to bridge this information divide. “To support our customers, we’ve created the Dacxi Wealth System. It’s designed to develop crypto confidence for everyday people, using education, resources, support, and a highly engaged community.” Established in 2017, Dacxi is a global Fintech company headquartered in Singapore, with a mission to democratize wealth and unlock prosperity for all. To learn more about Dacxi and its operations, visit www.dacxi.com, or connect on Linkedln, Facebook and Twitter. For more insights into the current state of crypto education, download the full report at https://learn.dacxi.com/download-the-state-of-crypto-education-2022/. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Sberbank, Russia’s largest bank, has been authorized by the country’s monetary policy regulator to issue digital financial assets. The move comes amid tightening Western sanctions over the war in Ukraine, including limiting Moscow’s access to the global financial market. Sberbank Added to Central Bank’s Register of Crypto Asset Issuers The Central Bank of Russia (CBR) has added Sberbank, the country’s leading banking institution, to its register of information system operators permitted to issue digital financial assets (DFAs). The term is used to describe various types of cryptocurrencies in the country’s current legislation. On Thursday, the commercial bank confirmed the news and elaborated: Accounting and circulation of DFAs issued on the Sber digital asset platform will take place in an information system created on the basis of a distributed ledger using blockchain technology, which guarantees data security and the impossibility of information substitution. The majority state-owned banking and financial services company detailed that other legal entities will be able to issue their own digital assets certifying monetary claims to attract investments. Businesses will also acquire DFAs issued on Sberbank’s platform and make other transactions with them under applicable regulations. The law “On Digital Financial Assets,” which went into force in January 2021, regulated several crypto-related activities, including the issuance of digital coins and fundraising through tokens. However, it did not introduce rules for other key operations with cryptocurrencies such as their mining, trading, and circulation in the Russian economy. A working group at the State Duma, the lower house of parliament, has been preparing proposals to address the regulatory gaps. In February, the Ministry of Finance submitted a new draft law “On Digital Currency” which aims to legalize crypto investments but at the same time, cement a ban on the use of cryptocurrencies for payments in Russia. Amid mounting sanctions over the invasion of Ukraine, including in the financial sphere, concerns have been raised in the West that the Russian government and sanctioned individuals may turn to crypto assets as a tool to circumvent the restrictions. Recent statements by a member of the regulatory working group in Moscow have confirmed Russia’s interest in employing digital currencies to restore its access to global finances. Russian officials now proceed with efforts to legalize the country’s crypto space. Do you expect Russia to bet on expanding its crypto sector amid financial sanctions? Share your thoughts on the subject in the comments section below. View the full article

On its second day of trading, APE rose by nearly 100% and is up over 1,200% in the last two sessions. Although gains were significantly more muted, AAVE and HNT also climbed higher to end the week. AAVE Although APE was undoubtedly today’s biggest mover, there isn’t much to discuss in the way of technical analysis, due to it only being in circulation for less-than 48-hours. As such, AAVE takes this honor by default, as its price climbed by over 10% during today’s trading session. Following a low of $142.83 on Thursday, AAVE/USD rose to an intraday high of $159.78, which is its highest level since February 17. This high came as prices broke out of the recent resistance level of $149.00, following five consecutive days of gains. As a result of this streak, the 14-day RSI has risen to a high of 65 for the first time since December, meaning that AAVE is now overbought. Should this momentum continue despite its current position, we could see prices targeting the $192 level next. Helium (HNT) Despite trading within a long-term descending triangle, HNT has now risen for five consecutive sessions, and is up nearly 6% today. As of writing this, HNT/USD rallied to an intraday peak of $24.22, following a low of $19.02 to begin the week. This comes as trades moved the price away from support of $20 on Monday, to now trading at a 17-day high. As a result of these gains, price strength has climbed to its highest level since early February, with the RSI now hitting a high of 54.74. Looking at the chart, we are also close to the price ceiling of $24.94, however, if we break beyond this level, some bulls could begin targeting $30. Are prices of HNT too overbought to sustain further gains? Let us know your thoughts in the comments. View the full article

In December 2021, the CEO of Instagram, Adam Mosseri, discussed how the firm was looking into non-fungible token (NFT) technology during an ask-me-anything (AMA) session. Three months later, at the South by Southwest (SXSW) event in Texas, Meta’s CEO Mark Zuckerberg explained Instagram plans to introduce NFTs in the “near term.” Meta CEO Hints NFT Features Are Coming to Instagram It seems NFTs are coming to Instagram soon, according to statements from Meta’s CEO Mark Zuckerberg at SXSW this week. Zuckerberg spoke with Shark Tank’s Daymond John at the event, and he explained that Instagram users will be able to mint NFTs as well. News concerning Instagram’s venture into the NFT world originally stemmed from the company’s CEO ,Adam Mosseri, during an AMA. Furthermore, the news publication the Financial Times (FT) spoke with unnamed sources familiar with the matter at the end of January 2022. FT’s report quotes the unnamed sources who said both Meta and Instagram are conversing about “launching a marketplace for users to buy and sell NFTs.” Zuckerberg’s details to the Shark Tank co-star indicate the launch might be sooner than most think. While the Meta CEO did not share many details, he said: “We are working on bringing NFTs to Instagram in the near term.” Zuckerberg added: I’m not ready to announce exactly what that’s going to be today, but, over the next several months, the ability to bring some of your NFTs in, and hopefully over time be able to mint things within that environment. Meta Sells Diem IP, Firm Intends to Grow With the Metaverse Zuckerberg has shown interest in blockchain technology and cryptocurrencies in the past and allegedly his pet goat is named “Bitcoin.” Just recently, Meta’s cryptocurrency project Diem was discarded by the firm in order to be sold, and then the Diem intellectual property (IP) was eventually purchased by Silvergate this year. Facebook also rebranded the social media application’s parent company name to Meta. With help from its subsidiary Oculus and other means, the company intends to bolster the network of 3D virtual worlds called the metaverse. What do you think about Instagram adding NFT technology in the near term? Let us know what you think about this subject in the comments section below. View the full article

SAND was higher on Wednesday, as it was announced that HSBC was set to enter the Metaverse via The Sandbox. While up nearly 10% on the news, MKR and WAVES were also some of today’s leading gainers. The Sandbox (SAND) On Wednesday, it was confirmed that The Sandbox and the British financial institution HSBC agreed to a partnership that would see the bank enter the metaverse. The news saw the project’s native token SAND surge in today’s session, climbing by over 9% as of writing this, moving away from its recent support level in the process. Following its rally from support of $2.65, SAND/USD hit an intraday high of $3.01, which is its highest level since March 9. This move came as the 14-day Relative Strength Index (RSI) rose past its ceiling of 42.5, which took place for the first time since the end of February. Now tracking at 45.4, the RSI is approaching yet another resistance point, this time at 46.25, a level which hasn’t been in almost four weeks. Should this happen, the first price target will be the $3.15 level, which has acted as resistance in the past. WAVES Although SAND/USD was today’s biggest gainer, WAVES was a close second, with MKR flanking in third place. WAVES once again broke past recent resistance of $29.10, on its way to its highest level since October 27, when price peaked at $33.86. As of writing this, WAVES/USD rose to an intraday high of $30.98, which is over 8% higher than yesterday’s low of $26.06. WAVES lost momentum following today’s breakout, as it appears that traders liquidated positions in anticipation of a reversal. The RSI also remains steady, tracking at 74, which is lower than the recent peak of 84, which could mean that there could still be more upside here. Do you believe more institutions will use The Sandbox to enter the metaverse? Let us know your thoughts in the comments. View the full article

The LeoFinance Team began it’s blockchain journey three years ago when they built the tokenized social app called LeoFinance.io, which became the backbone of a much bigger Web3 Ecosystem that has continuously evolved and expanded within the crypto world driven by two core values: creating opportunity for users and expanding the width and depth of the community. Khaleel Kazi is the Founder of LeoFinance. Khal is a DeFi entrepreneur that is building and launching DeFi apps and innovating on the bleeding edge of the cryptocurrency space. He recently joined the Bitcoin.com News Podcast to discuss the market: Currently LeoFinance have thousands of monthly users from every corner of the world and they all share one thing: They all love Decentralized Finance and are interested in being part of the innovation happening right at the edge of the cryptocurrency industry. March 5th, 2022, marked the genesis of LeoFinance’s next revolutionary app in their suite of tools, applications and opportunities for their users: https://polycub.com. The Bitcoin.com News podcast features interviews with the most interesting leaders, founders and investors in the world of Cryptocurrency, Decentralized Finance (DeFi), NFTs and the Metaverse. Follow us on iTunes, Spotify and Google Play. This is a sponsored podcast. Learn how to reach our audience here. Read disclaimer below. View the full article