China News Official TheBitTimes.com

Bitcoin has seen a significant pullback in its price over the past few days, leaving investors wondering if now is the time to buy the dip. Bitcoin is trading within a narrow range of $22,700 to $23,850, and a breakout will determine the future price action in the market. In this article, we will explore what might be causing this pullback and whether or not it is a good time to invest in Bitcoin.  Tesla's $140 Million Bitcoin Loss & What You Need to Know About It   Tesla revealed in their SEC filing this Monday that they experienced a financial loss due to the amount of Bitcoin they invested in - which totaled over $140 million. During 2022, the electric car company took a $204 million hit in terms of impairment charges. However, they also managed to gain $64 million due to converting Bitcoin. In December 2022, Tesla reported an impairment loss of $204 million caused by changes to their Bitcoin carrying value. Additionally, they experienced a gain of $...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. New York, United States, 31st January, 2023, Chainwire BNB Chain decentralized exchange Biswap has published its 2023 roadmap which includes a number of proposed improvements and upgrades. It includes details of a new AMM, route optimization, and perpetual trading.  Take a look at the main Biswap benefits: https://biswap.org/ .  A new AMM protocol with concentrated liquidity will allow Liquidity Providers to accumulate their capital to smaller price intervals than from 0 to infinity, increasing capital use efficiency and providing users with more profitable exchange conditions with less slippage. Improved routing to find the best trading pairs will allow users to execute larger transactions with less slippage and increase capital efficiency, as well as receive greater rewards from trading fees for Liquidity Prov...

Twitter has begun applying for regulatory licenses to enter into the US payments business. The Financial Times reported that Elon Musk ’s social media platform is designing the software to eventually introduce payments throughout the platform. Since Musk’s $44 billion acquisition of the company, the incorporation of new revenue streams has been a primary part of the discourse. Subsequently, introducing payments into the platform’s infrastructure will certainly incorporate a new revenue opportunity for Twitter. JUST IN: Twitter begins applying for regulatory licenses to enter payments business in US. — Watcher.Guru (@WatcherGuru) January 30, 2023 Twitter to Enter the Payments Business The Financial Times has reported that Esther Crawford, a high-ranking Twitter employee, “has started to map out the architecture needed to facilitate payments on the platform” alongside a small team of employees. The report has come from two peopl...

Multi-month BTC price highs keep trickling in, but Fed volatility looms as the FOMC coincides with the Bitcoin monthly candle close. Bitcoin (BTC) starts a key week with a familiar cocktail of price spikes mixed with fear that the bear market will return. After sealing its highest weekly close in almost six months, BTC/USD remains over 40% up year-to-date with the monthly close just 48 hours away — can the gains hold? Against all odds, Bitcoin has rallied beyond expectations this month, making January 2023 so far its best in a decade. Throughout, concerns have called for an imminent comedown and even new macro BTC price lows as a state of disbelief swept the market. That grim turnaround has yet to come to fruition, however, and the coming days could thus turn out to be a crucial period when it comes to Bitcoin’s long-term trend. The catalysts are hardly in short supply — the United States Federal Reserve will decide on its next rate hike this week, with Chair Jerome Powell also giving...

The Brazilian city of Sao Paolo has introduced the concept of blockchain in its municipal data access and transparency law. The concept of blockchain is defined as a technology that can be of use in this field, but the city has not defined the structures or the implementation for its use in the future. Sao Paolo Law Introduces Concept of Blockchain Little by little, more use cases of blockchain, part of the technology behind cryptocurrency, are being embraced by institutions all over the world. The city of Sao Paolo has included the concept of blockchain in its recently passed municipal data and transparency law as a tech that can be used to help the state complete its tasks. In the legislation, blockchain is defined as an immutable ledger that can record transactions and track assets using a computer network. While the tech is cited as a useful tool, the law fails to define in which ways it can be harnessed to make data access and transparency-related tasks more efficient. This ha...

Image Source: CNBC US Congressman French Hill aims to promote digital assets and blockchain technology in America by creating a favorable regulatory framework. Speaking on CNBC’s Squawk Box on January 26, the chairman of the newly formed congressional subcommittee on digital assets said he plans to advocate a fair regulatory regime in order to make sure “America is the place for innovation in fintech and blockchain.” "We want to make sure that America is the place for innovation in FinTech and blockchain and distributed ledger technology is part of that FinTech future," he said in a subsequent tweet.  During his interview with CNBC, the congressman said Bitcoin is not fit to be used as a real-time payment method yet. However, he claimed that “we want to make sure that America is the place for innovation in fintech and blockchain is part of that future.” Hill also weighed in on the possibility of approving a spot Bitcoin ETF, saying ...

Lawmakers in the European Union have backed legislation imposing new capital requirements for financial institutions, including strict rules meant to cover crypto-related risks. The latter concern banks keeping digital assets and are expected to enter into force in January, 2025. EU Legislators Approve Draft Law Implementing the Basel III Capital Regulations for Banks Members of the European Parliament’s Committee on Economic and Monetary Affairs (ECON) supported a bill on Tuesday designed to enforce the latest global bank capital rules. Reuters noted in a report that the lawmakers have also incorporated specific requirements addressing risks that stem from crypto assets. The general rules are part of the Basel III reforms, a set of internationally agreed measures developed by the Basel Committee on Banking Supervision in the aftermath of the 2007-2009 financial crisis. Their main purpose is to strengthen the supervision and risk management of banks. Other jurisdictions, including ...

Join Our Telegram channel to stay up to date on breaking news coverage APT price continues to pump even after surging above its 2022 record high. The layer 1 blockchain token teeters at $18.89 at the time of writing and is very close to touching $20.00. Investors seem convinced that the uptick in Aptos price is believable and could last longer. Some say that the fear of missing out (FMO) has not kicked in yet, which could propel APT to highs at $50.00 and $100, respectively. What’s Driving APT Price Rally? Aptos’ launch last October saw it command attention from investors while crypto markets were copulating. The new ecosystem quickly became the talk of the town as investors mulled over tokens that could help weather down the 2022 bear run. Although APT price exploded to highs slightly above $15.00 from an all-time low of $3.08, the implosion of Sam Bankman-Fried’s FTX exchange stifled the rally forcing the token into the prevailing downtrend in the cryptocur...

The cryptocurrency market is down on Wednesday as Bitcoin dipped below the $23,000 mark while Ethereum slipped under $1,500. The markets registered a decent rally this month but currently experiencing a slight correction after the price spurt. The markets started 2023 on the front foot delivering good returns to investors who saw constant losses in 2022. Wednesday’s correction is not hurting the markets and seems to be a healthy takedown in the indices. Also Read: Is Bitcoin’s Next Stop at $25,000? Why is the Cryptocurrency Market Down? Source: Twitter The cryptocurrency markets are down today because short-term investors appear to be booking profits. Short-term Bitcoin investors sold BTC at $23,000 levels on Wednesday after making decent profits during January’s CPI data-induced rally. Source: Glassnode Glassnode noted that the majority of profit bookings came from short-term sellers. “Given this substantial spike in profitability, the probability of sell press...

Shiba Eternity is among the Shiba Inu team’s most well-known releases. The Game reached milestones a short time after its debut. The Game debuted on the Apple Store’s top-20 Game s list the very first day it was available, according to some earlier reports. Within a week of its release, the Game had over 100,000 downloads, breaking all previous records. Shiba Eternity climbed to the top ten Game s list on November 16, 2022, according to data from the Apple App Store. The project team has also been diligently tracking and resolving bugs to guarantee the most seamless Game play possible. Read more: Google Under Scrutiny as US Government Files Antitrust Lawsuit According to the details shared by Twitter user, Mazrael, Shiba Eternity has dropped a new patch with a few updates. #ShibaEternity #SHIBARMY New patch dropped 🧐 Notes here! pic.twitter.com/QxNNbifDcU — Mazrael (@Materocks) January 24, 2023 Shiba Eternity’s new patch comes with major...

Source: Meta Masters Guild Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. The Meta Masters Guild presale has passed $1.2 million in funds raised, reaching this seven-figure amount in only two weeks. This total exceeds forecasts for the player-to-earn gaming platform, which is set to launch its first title -- Meta Kart Racers -- by the third quarter of the year. It also means that the second stage of the Meta Masters Guild presale has now sold out, raising the sale price for its native MEMAG token from $0.01 to $0.013. And with another price rise due in two weeks, early investors may need to act quickly if they wish to lock in the steepest possible discount on what may be one of the most successful tokens of 2023. Meta Masters Guild Presale Shatters Expectations, Raises $1.2 Million in Just Two Weeks – Time to Buy? What's impressive is that the presale's total s...

Fox News reported the US Democrats’ proposition of new legislation to eliminate the debt ceiling. According to the report, dozens of House Democrats have proposed the legal framework to allow the government to borrow capital “without any set limit by Congress.” The devised legislation arrives after the United States Federal Government surpassed the $31.4 trillion debt ceiling last week. Moreover, House Republicans have countered the efforts of Democrats with the call for a cutback on record Federal spending. JUST IN: 🇺🇸 US Democrats push to eliminate the debt ceiling, allowing unlimited borrowing for the government. — Watcher.Guru (@WatcherGuru) January 23, 2023 US Democrats Seek Unlimited Federal Borrowing For much of the last week, the United States national debt has been an intriguing story. It was a prospect that many saw coming, as the Federal Government surpassed the debt limit of $31.4 trillion. Thus, Congressional members be...

Source: Oka/Adobe Japan is inching closer to reforming its strict crypto tax laws for corporations – in a bid to stop an “exodus” of crypto talent and capital from flowing overseas. Pressure to reform has mounted in recent years, with industry figures and opposition leaders alike all calling for change. More recently, the top financial regulator, the Financial Services Agency (FSA), has signalled that it also wants to modify the restrictive laws. But a final step in this process is approval from the National Tax Agency (NTA). But while the NTA is yet to publicly signal it will make the change, analysts believe that it is working on a tax reform bill that it hopes to unveil in parliament in the coming months. Late last week, the NTA released a set of FAQs that address the matter of crypto taxation. And while these did not directly make mention of any coming reform, Junya Izumi, an Associate Professor of Tax Law at the Chiba University of Commerce, po...

On Jan. 21, 2023, the price of bitcoin reached a 24-hour high of $23,333 per unit at 5 a.m. Eastern Time on Saturday. The entire crypto-economy is now valued at $1.05 trillion after rising 7.2% against the U.S. dollar. Bitcoin’s price rise has led to the crypto asset’s dominance level surpassing the 40% region among thousands of crypto assets, as the digital currency’s market valuation has climbed to $443 billion. Bitcoin’s Value Rises 37.2% in 30 Days, Pushing Dominance Level Above 40% Bitcoin jumped above the $23,000 zone on Jan. 21 and the crypto asset’s value is now 37.2% higher than it was 30 days ago. The increase has pushed BTC’s dominance level above the 40% region. According to coinmarketcap.com (CMC) data, BTC’s dominance level on Jan. 21 is around 42.4%. The leading crypto asset’s dominance level rose above the 40% region after the first week of January 2023. The crypto economy aggregator coingecko.com (CG) indicates...