Crypto News Headlines (13-Apr-2023)

Dogecoin (DOGE) has risen from Wednesday’s low of $0.809 with a 5.89% move to the upside after Twitter struck a deal with eToro to offer crypto trading.

Twitter CEO Elon Musk has often touted dogecoin as one of his favorite cryptocurrencies, dedicating a segment to it on an appearance on Saturday Night Live in 2021. Twitter also briefly changed its logo to the dogecoin logo last week to spur a rally that gained as much as 37% for some traders.

Before today’s rise, the popular meme coin had slumped by 22.64% as the hype surrounding Twitter’s logo change subsided.

A Singaporean company, Bitdeer Technologies Holdings, founded in 2018 by former Bitmain CEO Jihan Wu, plans to go public and be listed on the Nasdaq stock exchange on April 14, 2023, according to a recently published filing with the U.S. Securities and Exchange Commission (SEC). The firm will use the ticker symbol “BTDR.” Bitdeer operates mining farms in Europe and North America and has strategic partnerships with mining pools including, Viabtc, Foundry USA, Antpool, F2pool, and

In September of last year, Bitdeer established a $250 million fund to purchase assets from distressed bitcoin miners. Also in September, the company acquired Singapore’s Le Freeport storage facility, also known as “Singapore’s Fort Knox.” According to the latest filing with the SEC, the company has reached a SPAC deal with Blue Safari Group. Shareholders of Blue Safari approved the deal at an extraordinary general meeting on April 11, 2023.

The nostalgic brand of early 2000s music peer-to-peer file-sharing service LimeWire has been resurrected in Web3, and a quirky music downloading game that plays on its history has been released today.

The LimeWire Game simulates an old Windows operating system with the LimeWire software running. Players must enter their email address in order to play. The browser-based game involves pretending to “search” for old music and movies to “download.”

Players can search for any musician, song, or movie that was popular in the early 2000s—most will show up in the results. Then, players must pick which items to “download.” Each download that doesn’t contain a “virus,” regardless of type, will reward the player with 10 points. The LimeWire simulation continues until either the clock runs out or the user stumbles upon a “virus.”

Crypto News Today: The Consumer Price Index rose 0.1 percent in March 2023 on a seasonally adjusted basis, as against an increase of 0.4 percent in February. Over the last 12 months, the all items index increased 5.0 percent before seasonal adjustment, the March inflation data report said. The U.S. Bureau of Labor Statistics released the Consumer Price Index (CPI) data for the month of March 2023. The index for shelter contributed the most to the overall CPI rise, offsetting the decline in energy index.

The monthly price index provides a statistical measure of the average change in prices in the market. In the current macroeconomic scenario in the US, the inflation data is all the more important as the US Federal Reserve aims to contain rise in prices to the 2%, compared to the 5% inflation as per the latest data. Besides this, the central bank had to deal with the regional banking system crisis that saw some banks closing down.

The bill, seeking to enshrine crypto miners’ rights in the United States state of Montana, successfully passed the third reading in the state’s House of Representatives. Now, the only thing required to become law is the governor’s signature.

Bill number 178, prohibiting local authorities from obstructing the crypto mining operations, was passed during the third reading by 64 votes to 35 on April 12. The legislation had already passed through Senate voting in February. It will now make it to the desk of Governor Greg Gianforte. While Gianforte has a right to veto the bill, it’s unlikely he will do so, as he belongs to the Republican party, along with the bill’s sponsor, state Senator Daniel Zolnikov.

Zambia plans on finishing tests that mimic real life crypto usage by June, the country’s Science and Technology Minister Felix Mutati told Reuters on Wednesday. The results from the simulations will assist policymakers in formulating regulations for the sector, according to the minister.

“Our main goal in the area of cryptocurrency is to strike a balance between innovation in terms of digital payments … against citizens’ safety, particularly given that cryptocurrency is very volatile,” Mutati told Reuters.

Zambia has taken a cautious approach towards crypto. The country’s central bank issued a warning in February saying “people who want to deal in them [crypto] should have a clear understanding of all the risks that come with such payment and investment instruments,” Bloomberg reported.

The G7 countries will discuss tighter cryptocurrency regulation as well as explore ways to assist developing countries in introducing central bank digital currencies (CBDCs) to ensure consistency with international standards, Reuters reported, citing Japan’s Vice Minister of Finance for International Affairs, Masato Kanda.

The Group of Seven (G7) consists of Canada, France, Germany, Italy, Japan, the U.K., and the U.S. The European Union (EU) also attends G7 meetings. Japan holds the Presidency of the G7 this year.

Kanda explained at a seminar in Washington Tuesday that the crypto and CBDC discussions will be part of the G7 efforts to address challenges the global community is facing from fast-moving digital technology.

ETH withdrawals are now live.

At 6:27 pm EST, Ethereum’s Shanghai upgrade was successfully implemented, enabling the withdrawal of staked ETH and effectively finalizing the network’s years-long transition to proof of stake.

Last September, Ethereum successfully executed its highly anticipated merge event, forever changing both how ETH is created and how transactions on the Ethereum network are validated. The upgrade saw Ethereum transition to a proof-of-stake consensus mechanism in which users stake ETH with the network to validate on-chain transactions, and are rewarded for that participation with newly generated ETH. Since ETH staking debuted in 2020, participants have deposited over $34.56 billion worth of ETH with the network.

The State Tax Administration Agency of the Government of Spain (AEAT) increases its efforts to charge the local holders of crypto assets. The AEAT intends to dispatch 328,000 warning notices to those who should pay their taxes on crypto for the 2022 fiscal year.

As the local newspaper El Mundo reported on Apr. 11, the number of notices raised by 40% in a year — from 150,000 warnings in 2022. The fiscal authorities took the matter seriously only recently — in 2021, there were only 15,000 notifications altogether.

However, such activity isn’t focused solely on crypto — for example, more than 660,000 notices will be sent this year to those who underreported their rental income, and 807,000 for the income abroad.

Popular social media platform Twitter is reportedly set to introduce a new feature that will allow users of the platform to trade cryptocurrencies and stocks. The new feature is being launched in partnership with fintech firm eToro, as reported by CNBC.

Twitter users will be able to browse market charts for a wider variety of financial instruments and purchase or sell crypto and other assets through eToro. The latest partnership between the social media platform and fintech firm will expand on Twitter’s “cashtags” feature that currently allows users to view real-time trading data from TradingView. An eToro spokesperson told Cointelegraph:

“Twitter has become a really important part of the retail investing community and it’s where a lot of people go to access financial news and acquire knowledge. We think $Cashtags can play a central role in this conversation and they are already gaining a lot of traction.”.