• Globaldata predicts that China will become a leading country in metaverse tech during 2023.
• The report emphasizes the importance of technologies like AI, VR, AR and 6G in allowing China to become a hub for the metaverse.
• Chinese investments in the metaverse are expected to highlight its value compared to existing one-off experiences such as social media, gaming, or ecommerce.

China Becoming Leader in Metaverse Tech

A report issued by Globaldata, a global consulting and data analysis company, predicts that China will become a leading country in metaverse tech during 2023. The firm believes that the development of other technologies like artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and 6G will allow China to configure itself as a metaverse hub.

Chinese Provinces Investing in Metaverse Tech

Several Chinese provinces and cities have already presented plans to become metaverse tech hubs, including Shanghai and Zhejiang among them. Furthermore, Globaldata believes that there are signs that indicate that China will continue to invest in virtual reality and artificial intelligence with the objective of promoting the economic development of the nation.

Metaverse Focus on Industry Benefits

While the metaverse is commonly associated with software and hardware dedicated to consumers, the report proposes the Chinese metaverse is likely to focus more on industry benefits from including metaverse tech into its processes. The Chinese Ministry of Industry and IT recently released a report on how VR and metaverses can be applied efficiently into industrial processes. This shows how these technologies can be mixed efficiently for greater economic benefit for China.

Value of The Metaverse

Globaldata predicts that due to its possibilities, interest in the metaiverse will be more appreciated than other technologies available at this time. On this it explains: “Chinese investments in metaverses related technology will highlight value of the metaverse compared to existing one-off experiences such as social media, gaming or ecommerce”

Conclusion

The report indicates that despite estimations putting sector values at $376 billion by 2025 there is still going to be a cooling phase evident during 2023 when it comes down investment within this field due to waning interest worldwide but not amongst Chinese companies looking for new opportunities with these technologies available!

• The Central Bank of Nigeria recently announced operational guidelines for open banking in Nigeria, which is designed to enhance efficiency and access to financial services.
• The new guidelines will enable the sharing of customer-permissioned data between banks and third-party firms in order to build customer-focused products and services.
• The CBN will also provide an Open Banking Registry (OBR) to serve as a public repository for registered participants.

Nigerian Central Bank Unveils Open Banking Guidelines

The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the central bank, some of the guidelines‘ objectives include ensuring „consistency and security across the open banking system.“

Customer Permissioned Data Sharing

The Central Bank of Nigeria said on March 7 that it had issued what it called the operational guidelines for open banking in Nigeria. According to the central bank, the guidelines are expected to foster the „sharing of customer-permissioned data between banks and third-party firms to enable the building of customer-focused products and services.“ The guidelines are expected to enhance efficiency and access to financial services. In a circular sent to financial institutions and payment service providers, the CBN said it had been aware of the „existence of an ecosystem for Application Programming Interface (API) in the financial and payments system.“ It added that it also knew of plans to „develop acceptable standards among stakeholders.“

Open Banking Registry

To kick things off,the CBN said it will provide and maintain an open banking registry (OBR) which acts as the industry’s storehouse. „The OBR shall be a public repository for details of registered participants. Each participant shall be identified by its CAC [Corporate Affairs Commission] business registration number, which shall be the unique key across the OBR system. The OBR shall maintain an API interface, defined within these guidelines, which shall serve as the primary means by which API providers manage the registration of their API consumers,“the CBN revealed.

Monitoring Developments

Meanwhile,in its circular,the CBN said all stakeholders are required to“ensure strict compliance“ withtheguidelinesaswellasotherregulations. Foritspart,thecentralbanksaiditwillcontinuetomonitordevelopmentsandmay“issueguidanceasmaybeappropriate.“

Conclusion

The Central Bank of Nigeria’s new operational guidelines for open banking is expectedtoenhanceefficiencyandaccesstofinancialservicesbypromotingcompetitionandenablingthesharingofcustomerdatabetweenbanksandthird-partyfirmsforbuildingcustomerfocusedproductsandservices

• B2BinPay has announced a new partnership with Athletic Club, one of Spain’s most renowned football teams.
• This collaboration will begin on February 14th and last until the 2023/2024 La Liga season, featuring the B2BinPay logo prominently in all official jerseys and joint marketing initiatives.
• The aim of this venture is to bring cryptocurrency payments closer than ever before to enthusiastic football fans around the world.

B2BinPay Partners With Athletic Club

B2BinPay has unveiled that they are now an official sponsor of Athletic Club, one of Spain’s most renowned football teams! This momentous collaboration will begin on February 14th and continue until the 2023/2024 La Liga season.

Features Of The Partnership

On top of the B2BinPay logo featuring prominently in all official jerseys, several joint marketing initiatives have been planned for execution as well. Through our partnership with Athletic Club, B2BinPay hopes to bring cryptocurrency payments closer than ever before to enthusiastic football fans around the world.

Reactions From Both Parties

With enthusiasm, Arthur Azizov – the CEO of B2BinPay’s parent company, B2Broker – expressed his delight at the news: „I am a passionate football fan myself…We hope our sponsorship of Athletic Bilbao will be an opportunity to promote cryptocurrency payments adoption among football fans and in Europe in general.“ Jon Uriarte, President of Athletic Club also commented: „We are very happy to have reached this agreement with a leading company such as B2BinPay and we are certain that it will be a great travel companion to achieve the objectives that we have set for ourselves.“

About B2BinPay

„For companies seeking secure and effortless crypto transactions, B2BinPay stands head-and-shoulders above the rest. Their unbeatable fees, lightning-fast integration process, and top-notch efficiency make them perfect for businesses of any size — allowing companies to easily accept payments in an array of coins, tokens, and stablecoins!“

Overview

• Bitcoin fell back below $24,000 on Feb. 24, as markets anticipated the release of the US consumer sentiment figures.
• Ethereum also retreated from Thursday’s high, impacted by increased volatility.
• The report from the University of Michigan is expected to show an increase in confidence.

Bitcoin Analysis

Bitcoin (BTC) dropped below $24,000 on Friday, as investors began to anticipate the release of U.S. consumer sentiment data. The 14-day relative strength index (RSI) experienced a breakout, with the index moving below a floor at 58.00 Currently, the RSI is tracking at a reading of 55.97, with the next visible point of support at 53.00 zone which could lead to BTC trading under $23,000 if bears attempt to reach this level.

Ethereum Analysis

Ethereum (ETH) saw prices slip from Thursday’s highs of $1,666 down to an intraday low of $1,632 on Friday due to increased volatility in the markets and failure to sustain a recent breakout above its long-term ceiling at $1,675. Price strength appears to have found a floor at 54.00 and is currently hovering above this point while the 10-day (red) moving average is upward facing which may indicate an upcoming rally for ETH/USD pairings..

US Consumer Sentiment Data

The upcoming consumer sentiment figures from the United States are expected to show an increase in confidence despite current inflationary pressures being experienced in markets across all asset classes including crypto assets such as Bitcoin and Ethereum .

Conclusion

With increasing volatility in both Bitcoin and Ethereum ahead of U.S consumer sentiment data release later today investor caution should be exercised as bearish market conditions could lead BTC/USD pairings under $23k if bears attempt to reach 53 RSI levels while ETH/USD could rally should price strength remain above 54 and 10-day MA indicate further upside potential for etherum prices ahead of key news events influencing cryptocurrency markets across all asset classes .

• Mike Novogratz, CEO of Galaxy Digital, believes that Bitcoin can potentially reach $30,000 by the end of the quarter.
• The executive was previously more bullish about the price of BTC, stating that it should be at $500,000 five years out.
• However, he revised his forecast due to Jerome Powell’s interest rate increases and other bullish predictions from other people in the cryptocurrency industry.

Mike Novogratz Predicts Bitcoin Could Reach $30k Next Month

Galaxy Digital CEO Mike Novogratz shared his bitcoin price outlook Wednesday at a Bank of America conference. The longtime bitcoin advocate believes that BTC could return to $30,000 by the end of next month. „When I look at the price action, when I look at the excitement of the customers calling, the FOMO [fear of missing out] building up, it wouldn’t surprise me if we were at $30,000 by the end of the quarter,“ he said.

Previous Bitcoin Price Forecast

Novogratz was previously more bullish about bitcoin’s future price level. In March last year he stated that BTC should be worth $500K five years out from then. He attributed his skepticism to Federal Reserve Chairman Jerome Powell’s interest-rate increases as well as other bullish predictions from people within the cryptocurrency industry such as Robert Kiyosaki and Pantera Capital who predicted that we are already in a new bull market cycle for BTC with an opportunity for a multi-trillion dollar market cap in its future.

Current Bitcoin Price

At the time of writing bitcoin is trading at around $24K after gaining 8% over 24 hours and 16% over 30 days.

Mike Novogratz’s Revised Outlook

Despite remaining optimistic about bitcoin’s potential next month Mike Novogratz revised his previous forecast due to Chairman Powell’s monetary policies which make him less certain that BTC will reach its all-time highs this year. He said: „What makes me skeptical that we can have an explosive back-to-the-old highs this year is Chairman Powell…He’s really doing what he says he’s going to do and I don’t see Fed pivoting and cutting anytime soon.“

Conclusion

Despite this recent revision Mike Novogratz remains confident in BTC’s potential for 2021 with other crypto enthusiasts making similarly bold predictions about its value going forward.

• Wazirx, an Indian crypto exchange, has denied allegations made by Binance regarding their relationship.
• Wazirx stated that the allegations are false and unsubstantiated and is seeking recourse.
• Binance accused Zanmai of making misleading claims to the public about its alleged role in operating Wazirx.

Binance Accuses Indian Crypto Exchange Wazirx of Misleading Claims

Binance, one of the largest global cryptocurrency exchanges, recently accused Indian crypto exchange Wazirx of making a series of misleading claims related to its alleged role in operating the platform.

Wazirx Denies Allegations

In response, Wazirx has denied these allegations and stated that they are “false and unsubstantiated”. The company also emphasized that it is taking necessary steps to seek recourse and protect its legal rights.

Background to Dispute

The dispute between the two crypto exchanges began when Nischal Shetty, founder of Wazirx, tweeted in August 2020 that his exchange was owned and controlled by Binance. He claimed that Zanmai Labs had a license from Binance to operate INR-crypto pairs on Wazirx while Binance would process crypto withdrawals for them.

Binance Responds

In response to these claims, Binance released a statement on February 3rd alleging misleading public statements by Zanmai regarding their role in running the exchange. The statement further suggested that such misrepresentation falsely put forth Binance as maintaining control over user assets, activity and operations on Wazirx.

Conclusion

Wazirexusers do not have to be concerned about any changes due to this announcement as the company has assured users that they can continue trading, depositing or withdrawing funds as usual with industry-leading standards being followed for storage of digital assets.

• The Indian Finance Ministry has highlighted the need for a common approach to regulating the crypto ecosystem in its Economic Survey this year.
• The survey explains that crypto assets have no intrinsic cashflows and the Reserve Bank of India has warned that they pose risks to the country’s financial stability.
• The U.S. Securities and Exchange Commission has also disqualified bitcoin, ether, and various other crypto assets as securities.

The Indian Finance Ministry has recognized the importance of regulating the crypto ecosystem in its flagship Economic Survey this year. This document, which is released annually, outlines the performance of the Indian economy in the previous financial year and presents an economic outlook for the current financial year.

The survey explains that crypto assets have no intrinsic cashflows and acknowledges the risks that they pose to India’s financial stability. The Reserve Bank of India (RBI) has repeatedly warned that crypto has no intrinsic value and has recommended banning cryptocurrencies like bitcoin and ether. The survey further states that U.S. regulators have disqualified bitcoin, ether, and various other crypto assets as securities.

It is clear that the Indian government is taking the regulation of the crypto ecosystem seriously, and this is reflected in the Finance Ministry’s Economic Survey. This survey highlights the need for a common approach to regulating the crypto space in India, as the risks posed by these assets are becoming more and more evident.

The Indian government is also looking to collaborate with other nations in the regulation of crypto. This is to ensure that a coherent and unified approach is taken that works to protect investors and safeguard the financial system. The government is also looking to learn from other nations’ experiences in the crypto space in order to ensure that India’s own regulations are effective and up-to-date.

The Economic Survey is a significant step forward in the regulation of crypto assets in India, and it will be interesting to see how the government moves forward in this area. It is clear that the Indian government is taking the regulation of the crypto ecosystem seriously, and it will be interesting to see the impact of these regulations in the future.

Bullet Points:
• Cryptocurrencies such as Bitcoin and Ethereum are continuing to consolidate recent gains as markets prepare for upcoming US economic data.
• Bitcoin is trading above $23,000, while Ethereum is nearing a move below $1,600.
• Technical indicators such as the RSI suggest that shifts in momentum may be on the horizon.

Cryptocurrencies have continued to consolidate their recent gains on Jan. 24, as markets prepare for a big week of U.S. economic data. On Thursday, the U.S. will release its gross domestic product (GDP) figures for Q4 2022, followed by consumer sentiment data the day after.

Bitcoin (BTC) is trading at $22,913.54, consolidating for a third straight day but still remaining above $23,000 for most of today’s session. BTC hit a high of $23,134.01 earlier, a level not seen since October 2020. Despite this, the 14-day relative strength index (RSI) has neared a ceiling of 86.00, with a floor at 80.00 another possible destination for traders. The 10-day (red) moving average has also begun to show signs of peaking, which could lead to a sudden shift in momentum.

Ethereum (ETH) has seen somewhat slower momentum in today’s session, with price approaching its floor at $1,600. Following a high of $1,658.02 to start the week, ETH/USD dropped to a bottom of $1,609.16 earlier in the day. Several dojis (candlesticks signaling reversal) have appeared on the chart, suggesting sentiment in the world’s second largest cryptocurrency has already shifted. The RSI is currently hovering slightly above a floor at 74.00, which is a current indicator of the market’s direction.

Overall, it looks like the markets are preparing for a big week of economic data from the U.S., and traders will be watching closely to see how this impacts the price of cryptocurrencies. With technical indicators suggesting shifts in momentum may be on the horizon, it will be interesting to see how the markets react in the coming days.

• Ledgible, a leading digital asset tax and accounting solution for institutions, professionals, and investors, has unveiled a newly revamped website and interface.
• Ledgible offers more than just digital asset tax solutions, they are also a top provider of digital asset accounting and digital asset data aggregation tools for companies.
• Ledgible’s platform is scalable, allowing quick access to crypto data aggregation and normalization for institutions and enterprises through their secure banking system integrations and augmentation of traditional financial reporting software.

Ledgible, the leading crypto tax and accounting provider, has just unveiled its newly redesigned website and interface. Ledgible is a digital asset tax and accounting solution for institutions, professionals, and investors, allowing users to quickly explore the company’s various digital asset solutions, connect with support, register, and so much more, all in one streamlined ecosystem.

The announcement comes just in time for the 2022 US tax season, as tax filers and tax professionals are gearing up for the highest volume digital asset tax filing season ever in the US. Ledgible offers more than just digital asset tax solutions, they are also a top provider of digital asset accounting and digital asset data aggregation tools for companies like FIS, Thomson Reuters, Wolters Kluwer, Interactive Brokers, and more.

Ledgible Crypto Enterprise & Institutional Accounting is designed to take the headache out of managing digital asset data. Whether you’re running month-end reporting, analyzing balances, managing crypto funds, or integrating with your existing accounting software like Advent Geneva, Netsuite, Quickbooks Online, Xero, Wall Street Concepts, SEI, Eagle, and so many more systems, Ledgible has you covered.

The Ledgible platform is built to be more than just a SaaS platform. It is scalable, allowing quick access to crypto data aggregation and normalization for institutions and enterprises through their secure banking system integrations and augmentation of traditional financial reporting software. Through seamless API connections, the Ledgible platform serves as the foundation for an enterprise’s digital asset operations.

Ledgible’s tax and accounting solutions have been designed to meet the needs of institutions, professionals, and investors. It provides a seamless and secure platform for managing digital assets and provides the necessary tools for organizations to confidently file taxes and report financial information. Ledgible is committed to helping its users get the most out of their digital asset investments, and its new website and interface are the latest step in that mission.

• On Jan. 15, 2023, onchain researchers discovered that funds stolen during the Harmony bridge attack had been moved.
• The stolen funds, worth $63.2 million at current exchange rates, were deposited into OKEx, Huobi, and Binance.
• Binance CEO Changpeng Zhao confirmed that the funds had been frozen and 124 BTC had been recovered.

On June 23 of last year, the Harmony development team disclosed that $100 million in cryptocurrency funds had been stolen from the Horizon bridge. After 206 days, onchain researcher Zachxbt discovered that 41,000 ETH (worth $63.2 million at current exchange rates) had been transferred. The suspected thieves, who are allegedly associated with the North Korean hacking syndicate Lazarus Group, had deposited the funds into OKEx, Huobi, and Binance.

Binance CEO Changpeng Zhao, commonly known as „CZ,“ confirmed that the funds had been frozen and that 124 BTC had been recovered. CZ tweeted, „We detected Harmony One hacker fund movement. They previously tried to launder through Binance and we froze their accounts. This time they used Huobi. We assisted the Huobi team in freezing their accounts. Together, 124 BTC have been recovered.“

The blockchain intelligence firm Elliptic also discovered the movement of the stolen funds and identified an address associated with the hack. Elliptic CEO James Smith stated that the company had identified the address as a high-risk address and had notified multiple exchanges so they could take appropriate action.

In response to the Harmony bridge attack, the Ethereum community has taken steps to ensure similar hacks don’t occur in the future. Ethereum developers have implemented a new security protocol called EIP-1778, which requires funds to be held in special smart contracts and prevents them from being moved without authorization. This protocol is designed to prevent hackers from exploiting multi-signature wallets, as was done in the Harmony bridge attack.

The incident serves as a reminder to the cryptocurrency community of the importance of security protocols and the need for exchanges to take extra precautions when it comes to frozen funds. It is encouraging to see onchain researchers and exchanges working together to freeze funds and protect users from malicious actors.