BTC.com — a major crypto mining pool that is operated by BIT Mining and owned by the NYSE-listed Chinese lottery service provider 500.com — has announced the successful relocation of its first batch of mining machines to Kazakhstan. BTC.com was founded by Jihan Wu and was operated by Bitmain and Bitdeer until its acquisition by
The growth of stablecoin’s market cap and circulating supply has been one of the best indicators for attaining a general pulse on how participants in the market are feeling during bullish and bearish times. Monitoring the Tether (USDT) treasury for large issuances was a common tactic used by analysts and traders to position themselves for
Dogecoin (DOGE), Elon Musk’s pet favorite cryptocurrency, has shed tens of billions of dollars in value since he publicly plugged it on mainstream TV. As sources noted this week, the meme-based altcoin’s market cap is now $69 billion down versus where it was when the Tesla and SpaceX CEO hosted Saturday Night Live. Dogecoin: 6 weeks, 70%
One of the few high-profile public officials to have served under both the Obama and Trump administrations, Chris Giancarlo is a former Wall Street executive-turn-regulator who is widely-respected by nearly all parties on Capitol Hill. As the former Chairman of the Commodities Futures Trading Commission, however, his latest venture, the Digital Dollar Foundation, might well
In a bearish environment, traders latch on to every bit of negative news and make that a an excuse to sell. Bitcoin (BTC) dropped over $1,000 within a few minutes as news hit the stands that the third-largest Chinese bank, the Agricultural Bank of China, will not allow the use of its services for crypto
Cryptocurrency exchange Zebpay and others doing business in India will reportedly be joining IndiaTech, an association aimed at providing regulatory clarity for crypto in the country. According to a Monday report from The Economic Times, executives from some of India’s crypto exchanges said their businesses are considering joining IndiaTech in an effort to pressure the
Cryptocurrency has gone through a number of bull and bear cycles since the industry’s inception in 2009. While 2017 saw the crypto industry boom around initial coin offerings and a rising Bitcoin (BTC) price, 2020 and 2021 have seen the crypto space expand around decentralized finance (DeFi) and nonfungible tokens (NFTs). This time however, retail
European Central Bank (ECB) executive board member, Fabio Panetta, has argued that a digital euro offers superior privacy protections than privately issued stablecoins. Panetta criticized the profit motive of private firms, emphasizing it is in their commercial interests to harvest masses of data on their users. “We are not like private companies,” the board member
IOHK CEO and Ethereum co-founder, Charles Hoskinson, has argued that Bitcoin sits at a significant competitive disadvantage due to its slow speeds and will be usurped by proof-of-stake networks. In a five-hour Podcast with computer scientist and AI researcher, Lex Fridman, the Cardano founder argued that proof-of-stake networks offering superior speed and functionality over the
With extreme positions on both sides, some would have us believe that decentralized technology and regulation are mutually exclusive. As pervasive as that narrative has become, a more evolved view is that both decentralization and regulation are inevitable, so the best results will flow with regulators and innovators coming together. But what will that cooperation
The U.S. Federal Reserve’s plans to advance its timeline for rate hikes to 2023 has led to profit-booking in the U.S. stock market, gold, and Bitcoin (BTC). The markets received a second jolt on June 18 after James Bullard, the president of the United States Federal Reserve Bank of St. Louis, warned th the first rate
Federal Reserve Bank of Minneaopolis President Neel Kashkari took a jab at Dogecoin (DOGE) last week by referring to the meme coin as a ponzi, upping his rhetoric against cryptocurrencies. Kashkari’s comments were in response to a LinkedIn poll by Paul Grewal, the chief legal officer and corporate secretary at Coinbase, asking his connections about
Malta’s strategy to become a global enclave for digital assets appears to be working, though lax regulatory oversight has raised concerns over money laundering and other financial crime. Roughly $71 billion, or 60 billion euros, worth of cryptocurrencies have passed through Malta since the tiny Mediterranean state first adopted its “blockchain island” strategy in 2017,
The increased regulatory scrutiny that befell South Korea’s cryptocurrency space in recent times appears to have extended to include exchange tokens. Exchange tokens are tokens issued by a cryptocurrency exchange that usually offer some benefit to the holder, either through reduced trading fees, regular token burns or other means. According to a report by Arirang
Generating momentum and attracting investor attention can be a challenge during the best of times in the cryptocurrency market and it is an even bigger challenge when the markets are choppy like the entire crypto ecosystem has been the past couple of months. Despite the recent downturn, Perlin (PERL), which has managed to rally 140%
It’s 2021. Super Bowl champion Tom Brady is starting an NFT company, Christie’s is explaining CryptoPunks to everyone, Saturday Night Live is creating jams about NFTs, Beeple and Mark Cuban are advocating NFTs’ use case — yet, here I am, the CEO of a company that helps users securely store their nonfungible tokens and I
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