A hydro-powered crypto mining project based in Africa released an update on its efforts to bring energy developments to rural communities via Bitcoin (BTC). On Dec. 9, Gridless Compute tweeted photos and commentary on how their hydro-power BTC mining rigs are powering an entire rural settlement while also lowering energy rates for 2,000 people, the
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Cryptocurrencies have not been around for very long. Hence, there is not much data yet on whether cryptocurrency is a good investment during stagflation and if stagflation is generally good or bad for the markets. To grasp if cryptocurrency investments work well during stagflation, one can examine how traditional markets behave during inflation or stagflation
On Dec. 8, 2022, three Democratic politicians from Massachusetts, Oregon, and California revealed legislation aimed at combatting “energy-intensive” cryptocurrency mining operations. The bill introduced by senator Ed Markey (D-MA) alleges that crypto mining “strains the grid” and the industry “undermines U.S. climate goals.” 3 U.S. Bureaucrats Believe Crypto Miners Need to Report Carbon Emissions and
The cryptocurrency and mining law that the Paraguayan Congress passed in June was finally shelved on Dec. 5. The document, which sought to bring order to crypto mining and exchange activities in Paraguay, was ultimately dropped after failing to obtain the votes needed to reject the presidential veto it received. Paraguayan Crypto Law Dropped After
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that the collapsed crypto exchange FTX paid him about $15 million to become its spokesperson. “I put about $9.7 million into crypto. I think that’s what I lost. I don’t know. It’s all at zero,” O’Leary said. Kevin O’Leary Was Paid $15M by FTX Shark
Two congressional hearings will be held next week on the collapse of cryptocurrency exchange FTX and U.S. lawmakers have asked former FTX CEO Sam Bankman-Fried (SBF) to testify. As the founder of FTX and Alameda Research, “you must answer for the failure of both entities that was caused, at least in part, by the clear
Jordan Belfort, aka the Wolf of Wall Street, expects bitcoin and ethereum to be “a lot higher” than they are now. Noting that the collapsed crypto exchange FTX is a scam, he stressed that its implosion “doesn’t mean that you can disregard bitcoin completely and say it’s worthless or going to zero.” The Wolf of
On Wednesday, non-fungible token (NFT) supporters discovered that NFT metadata hosted on the platform FTX US points to broken metadata, and the links now point to FTX’s restructuring website. Specific collections that were minted on the Solana blockchain via the FTX US NFT platform do not show the NFT’s imagery and marketplace listings on the
After discovering that ten holding firms associated with FTX Digital and Alameda Research invested roughly $5.4 billion into nearly 500 firms and projects, people have been curious about a few specific investments. One specific investment made by FTX Ventures Ltd. was for $25 million into the Ohio-based firm 80 Acres, a company that specializes in
According to the team behind the open protocol Ren, developers are winding down the Ren 1.0 network following the FTX and Alameda Research collapse. Last year, under previous Ren leadership, Alameda acquired Ren and was funding development every quarter. On Dec. 7, 2022, Ren developers warned Ren 1.0 and 2.0 compatibility “cannot be guaranteed” and
The total cryptocurrency market capitalization dropped 1.5% in the past seven days to rest at $840 billion. The slightly negative movement did not break the ascending channel initiated on Nov. 12, although the overall sentiment remains bearish and year-to-date losses amount to 64%. Bitcoin (BTC) price dropped 0.8% on the week, stabilizing near the $16,800
Over the last few weeks, there’s been a lot of information revealed surrounding the recent FTX and Alameda Research disaster. On Dec. 6, the Financial Times (FT) published documentation that shows Alameda’s investment portfolio, which alleges the company spent more than $5 billion on hundreds of investments. Some of the funds went to odd investments
Bitcoin continued to slip on Thursday, with the coin remaining close to its lowest level since the end of November. Momentum in cryptocurrency markets has shifted in recent days, with sentiment currently bearish. Ethereum was also lower, with the token dropping towards $1,200. Bitcoin Bitcoin (BTC) remained near a one-week low on Thursday, as cryptocurrencies
In a new directive to financial institutions, the Central Bank of Nigeria (CBN) said individuals can now only withdraw an equivalent of just under $222 per week while corporates can only withdraw cash not exceeding $1,111 during the same period. The new limits, which are in line with the CBN’s cashless policy, are set to
The U.S. dollar price of ether, which presently hovers around $1,200, is expected to fall to $922.66 by Dec. 10, a Coincodex prediction chart has shown. Ethereum is nonetheless projected to close the following day trading above $1,000. According to the Coincodex analysis, there are presently 15 technical indicators out of a total of 28
Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC), is trading close to 50% below the BTC price on spot markets. Data from on-chain analytics platform Coinglass confirms that on Dec. 8, GBTC shares hit a new record low of -47.2% against BTC/USD. GBTC troubles pile up post-FTX In the latest bout of nerves to
Companies extracting cryptocurrencies in Kazakhstan will be allowed to purchase only excess electricity on a government-controlled market. The decision comes with new legislation approved by lawmakers which regulates the activities of the industry and the taxation of its profits. Law to Regulate Crypto Mining in Kazakhstan, Change Licensing Rules The lower house of Kazakhstan’s parliament,
The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a bill designed to regulate the sector which is likely to be adopted this year. Russian Energy Ministry Forecasts Rise in Crypto Mining’s Electricity
JPMorgan Chase CEO Jamie Dimon says crypto tokens are like pet rocks. The executive also believes crypto regulation should be strengthened, stating: “The regulators who beat up on banks should maybe focus a little more on crypto.” JPMorgan Chase’s Jamie Dimon Compares Crypto to Pet Rocks The chairman and CEO of global investment bank JPMorgan
The host of Mad Money, Jim Cramer, has advised investors to sell their crypto, emphasizing that “it’s never too late to sell an awful position.” Regarding FTX, Cramer predicted that the collapsed trading platform “won’t be the last of these crypto exchanges to go down.” Jim Cramer’s Latest Crypto Advice The host of CNBC’s Mad