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2022-06-20 03:22:54 Tesla and Spacex CEO Elon Musk has reaffirmed his commitment to dogecoin (DOGE). He confirms that he will keep buying and supporting the meme cryptocurrency. The price of dogecoin climbed following his statements amid a crypto market downturn.

Elon Musk Reaffirms Commitment to Dogecoin
Tesla CEO Elon Musk reaffirmed his support for the meme cryptocurrency dogecoin a few times this weekend. On Sunday, Musk tweeted that he will keep supporting DOGE. He also indicated that he will keep buying the meme coin.

On Saturday, the Tesla boss also mentioned DOGE on Twitter in response to a tweet by Dogecoin co-creator Billy Markus stating his “desire” for people to use DOGE “for something beyond pump and dump … so it has a reason to exist.”

Musk tweeted that dogecoin can be used to purchase merchandise at his companies, Tesla and Spacex, hintin...

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2022-06-20 02:08:08 The president of El Salvador has some advice for bitcoin investors. He believes investments in the largest cryptocurrency are safe and will “immensely grow” after the bear market.

El Salvador’s President on Bitcoin Investments
The president of El Salvador, Nayib Bukele, has spoken up about bitcoin investments amid BTC’s heavy sell-off.

El Salvador has purchased 2,301 bitcoins since the country made BTC legal tender alongside the U.S. dollar in September last year. With the price of bitcoin plunging, El Salvador’s BTC investment has reportedly...

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2022-06-19 23:24:36 Binance announced this week that the direct withdrawal and deposits were suspended in Brazil. The exchange issued a statement where it announced that this was the result of a change in the payments partner in the country and that it will be taking legal steps against it. However, the partner states that Binance did not adapt to provide the new KYC information required by Brazil’s central bank.

Binance Stops Real Related Movements
Binance stopped real-based direct deposits and withdrawals in Brazil this week as a result of a change in its secondary payments provider. The exchange announced that it was making the necessary changes to fix this problem in the future to keep offering these services to its cu...

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2022-06-19 21:55:57 During the last week, while crypto markets got hammered, digital currency-centric over-the-counter (OTC) trading desks were swamped with orders. The cryptocurrency OTC trading desk Cumberland, a subsidiary of DRW, explained that on June 13, the firm saw 30% more volume than the previous year-to-date high on May 13.

Cumberland Says ‘On Big Swings, More Volume Tends to Come to OTC Desks’
Over-the-counter (OTC) trading desks allow high-net-worth crypto traders to trade coins without affecting spot markets as much as they would trading on a traditional exchange. OTC trading desks also provide liquidity for big buyers that smaller exchanges cannot provide. A number of companies offer OTC services to crypto traders like Kraken OTC, Falconx, Cumberland, Athena Investment Services, Crypto Desk, B2C2, Bankhaus Scheich, Bit...

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2022-06-19 19:21:30 Russia’s largest bank, Sberbank, is going to carry out the first transfer of digital assets on its own dedicated platform within a month, a top executive revealed this week. The announcement comes after earlier this year, the bank was authorized to issue digital financial assets.

Sberbank Prepares for Deal With Digital Financial Assets on Proprietary Platform
Russian majority state-owned bank Sberbank (Sber) will perform the first transaction with digital financial assets (DFAs) on a platform developed by the institution within a month, Tass reported. The news agency quoted Anatoly Popov, deputy chairman of the Management Board of the banking and financial services company.

Speaking on the sidelines of the St. Petersburg International Economic Forum, the high-ranking executive reminded that Sberbank, which accounts for about a third of...

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2022-06-19 17:57:02 Following the Terra stablecoin depegging incident, a class-action lawsuit has been filed against the company Terraform Labs and a number of other crypto companies over the collapse of terrausd (UST). The case against Terraform Labs (TFL) was filed by the plaintiff Nick Patterson on behalf of others similarly situated and the law firm Scott+Scott LLP.

A Class-Action Lawsuit Has Been Filed Against TFL and Affiliated Firms — Plaintiffs Claim Terra-Based Tokens Were Unregistered Securities
According to recently filed documents in the U.S. District Court in Northern California, Terraform Labs is accused of selling unregistered securities and misleading investors. In addition to TFL, Jump Crypto, Jump Trading, Republic Capital, Definance Capital, GSR Markets, Three Arrows Capital, Nicholas Platias, and Do Kwon are also named in the lawsuit. Pa...

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2022-06-19 15:06:59 It’s been a week of polarizing opinion in crypto news. Whether it’s cryptocurrency fund managers predicting $100K bitcoin by the end of the year, Peter Schiff saying things “will only get worse as the recession deepens,” or Bill Gates slamming crypto and NFTs, citing the Greater Fool Theory, there’s been no shortage of spicy debate and notable economic forecasting going on. Read about it all right here, in this week’s Bitcoin.com News Week in Review.

PWC: Majority of Crypto Fund Managers Surveyed Predict Bitcoin Could Reach $100K by Year-End
Major financial services firm PWC has conducted a study and found that the majority of crypto fund managers surveyed believe that the price of bitcoin would be between $75K and $100K by the end of this year....

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2022-06-19 13:39:53 Blockchain and crypto enthusiasts have for years preached about the much envisioned mass adoption of this fintech and why this is an important goal that must be achieved sooner than later. However, many factors like ignorance, a lack of information, and poor telecommunication infrastructure have made the attainment of this objective difficult.

A Book of ‘Immeasurable’ Importance
In Africa, where proponents of cryptocurrencies believe the technology has a better chance of succeeding, the task of convincing the continent’s citizens is made even more difficult by scammers. The number of people losing money to crypto scams remains very high, and this works against adoption efforts.

To overcome this challenge, one Namibian educator and author, Gurvy Kavei, decided to publish a book that shares what he has...

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2022-06-19 12:13:08 Ukraine has been granted observer status in the European Blockchain Partnership (EBP). Officials in Kyiv hope the move will facilitate the implementation of blockchain technologies by the Ukrainian government and lead to the adoption of more efficient crypto regulations.

Ukraine Advances Toward Membership of European Blockchain Partnership
Ukraine has been accepted as an observer in the European Blockchain Partnership (EBP), an initiative to develop an EU strategy on blockchain and build blockchain infrastructure for public services. The observer status is a step towards full membership, for which Ukrainian officials and members of the crypto community have been lobbying.

The push for the country’s accession to the EBP was...

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2022-06-19 09:18:07 The governor of the Jamaican central bank has warned people using or who have plans to use cryptocurrencies to be mindful of the associated risks. The governor added that cryptocurrencies’ unpredictability means they cannot function as a medium of exchange.

Not Stable Enough to Be Good Means of Payment
The governor of the Bank of Jamaica, Richard Byles, has cautioned those using or planning to use cryptocurrencies to be mindful of the unpredictable nature of the assets. Byles also said he considers cryptocurrency an investment instrument rather than a medium of exchange because its value is “not sufficiently stable to be a good means of payment.”

In remarks published by Jamaica Information Service (JIS), Byles, who spoke at a digi...

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