Analysts are predicting a rise in Bitcoin mining profitability of about 35% during the short term. This would be the effect of the bitcoin mining crackdown in China. Since the crackdown happened, a significant portion of hashrate stemming from the Bitcoin network disappeared. Ousted miners are struggling to relocate, and some might not even make …
Tag archives: Cardano
FinCEN Names Misuse of Cryptocurrencies a National Priority
The Financial Crimes Enforcement Network (FinCEN) has named “cybercrime, including relevant cybersecurity and virtual currency considerations” a national priority. In particular, the Treasury is concerned about the “misuse of virtual assets that exploits and undermines their innovative potential, including through laundering of illicit proceeds.” FinCEN, a bureau of the U.S. Department of the Treasury, published …
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Is cryptocurrency the solution to financial inequality?
Experts predict that cryptocurrency will soon overtake FIAT money as the preferred medium of exchange, possibly as early as 2030. What does this mean for those who are experiencing financial difficulties right now? Do cryptocurrencies have the potential to solve these types of problems? In order to understand how cryptocurrencies like bitcoin might impact people …
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Grayscale adds Cardano (ADA) to its Digital Large Cap Fund
Grayscale Investments, the world’s largest crypto asset manager, announced yesterday that it has added Cardano (ADA) to the company’s Digital Large Cap Fund. “Welcome aboard, Cardano. We have adjusted the portfolio of Grayscale Digital Large Cap Fund to now include ADA,” the company tweeted. Welcome aboard, #Cardano. We have adjusted the portfolio of Grayscale Digital …
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Brian Armstrong Meets With Fed Chair Jerome Powell – ‘US Needs to Be a Major Crypto Player to Stay Relevant’
According to Jerome Powell’s conference calendar, the CEO of Coinbase, Brian Armstrong, met with the Federal Reserve chairman and former House of Representatives Speaker Paul Ryan to speak about the implications of digital currencies. The meeting’s details are unclear but most of the discussions seemingly revolved around the construction of an American central bank digital …
‘We Want You,’ Pro-Bitcoin Senator Cynthia Lummis Invites Crypto Miners to Wyoming
U.S. lawmaker and bitcoin advocate Cynthia Lummis has indicated that cryptocurrency miners are welcome in Wyoming. In a recent interview, the senator defended bitcoin’s carbon footprint and later invited miners to her home state on social media. Crypto Mining Adapted to Non-Carbon Emitting Energy With the ongoing crackdown on cryptocurrency mining in China, companies in …
AscendEX Lists Radix – a DeFi Protocol With Developer Incentives
press release PRESS RELEASE. AscendEX (formerly BitMax), a global cryptocurrency financial platform with a comprehensive product suite, is thrilled to announce the listing of the Radix tokens (EXRD and XRD) under the pairs USDT/XRD and USDT/EXRD on June 29 at 1 p.m. UTC. Radix intends to remove the technology barriers limiting the expansion of DeFi …
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Philippine Stock Exchange Eyes Cryptocurrency Trading — Says ‘It’s an Asset Class That We Cannot Ignore Anymore’
The national stock exchange of the Philippines, the PSE, says cryptocurrency is “an asset class that we cannot ignore anymore.” The stock exchange further says cryptocurrency trading “should be done at the PSE,” given its infrastructure and investor protection safeguards. The Philippine Stock Exchange (PSE), the national stock exchange of the Philippines, is reportedly eyeing …
Russia’s Famous Hermitage Museum Aims to Raise Funds With NFTs
The Hermitage Museum in Saint Petersburg is considering issuing NFTs for works of art from its rich collection and is holding talks with Binance on the matter. The museum’s management expects the tokens to bring extra funding, provided Russian authorities exempt NFTs from current digital assets regulations. Hermitage Museum in Talks With Binance for Artwork …
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Bitcoin Miner Greenidge Generation Plans to Develop South Carolina Mining Facility
On Friday, the bitcoin mining operation Greenidge Generation Holdings announced the company is expanding to South Carolina in order to develop the firm’s next bitcoin mining facility. Greenidge details that the carbon-neutral Spartanburg facility will be ready in 2021 or early 2022. Bitcoin Miner Greenidge Generation Plans to Expand to South Carolina Spartanburg, South Carolina, …
Binance’s Troubles Grow as Thailand Files Criminal Complaint — Similar Warnings by Cayman Islands, UK, Japan
A growing number of regulators worldwide have come after Binance. Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against the crypto exchange after the authorities in the Cayman Islands, the U.K., and Japan issued similar warnings on Binance and related companies. Thailand’s Regulator Files Criminal Complaint The Thai Securities and Exchange Commission announced …
JPMorgan Predicts When Bitcoin Bear Market Will Be Over
Global investment bank JPMorgan has predicted that the bitcoin price slump will likely be over when the cryptocurrency’s dominance rises back above 50%. “I think that’s another indicator to watch here in terms of whether this bear phase is over or not,” the firm’s analyst explained. JPMorgan’s Bitcoin Market Prediction JPMorgan analyst Nikolaos Panigirtzoglou has …
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Cardano Joins Grayscale Digital Large Cap Fund as Third Biggest Component
Cardano has been added to Grayscale Investments’ large-cap cryptocurrency fund. It is now the third-largest component of the fund after bitcoin and ether. Grayscale Investments, the world’s largest digital currency asset manager, announced Friday the addition of cardano to its Digital Large Cap Fund (OTCQX: GDLC). Grayscale described this fund as “a passive, rules-based strategy …
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NBA’s Portland Trail Blazers Partner With Crypto Cashback Company Stormx
In 2021, there’s been a plethora of cryptocurrency-related announcements about professional sports teams, leagues, and famous athletes. On July 1, the National Basketball Association’s (NBA) Portland Trail Blazers announced the professional basketball team has partnered with the cashback blockchain firm Stormx. Portland Trail Blazers Uniforms to Feature Crypto Cashback Firm’s Logo The NBA’s Trail Blazers …
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Robinhood drew 34% of crypto revenue from being ‘overexposed’ to Dogecoin (DOGE)
Commission-free trading platform Robinhood reveals it relies heavily on Dogecoin. The firm admits lessening demand for the controversial meme token could negatively impact its operations. With a YTD peak of almost +15,000%, the performance of DOGE has shocked many analysts. However, considering that this seems mainly driven by sentiment rather than fundamentals, some believe it’s …
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