The blockchain industry’s impact on the energy sector has been a major source of controversy over the past five years. Governments and environmental protection advocates have routinely expressed concerns about the amount of energy required to keep the Bitcoin network secure. Data shows the network’s energy consumption now rivals the yearly energy consumed by some
Month: June 2022
The United States equities markets tumbled on June 10 after the consumer price index report showed inflation soaring 8.6% from a year ago, the highest increase since 1981. The latest figures show that talks of inflation having peaked were premature and according to Bloomberg, investors are pricing in key interest rates of 3% by the
The Republic of Palau announced Friday that it will issue identification cards to its digital residents in the form of nonfungible tokens (NFTs) on Binance’s BNB Chain blockchain. Binance founder and CEO Changpeng Zhao (CZ) was on hand in the Pacific Island nation for the unveiling of the NFTs and to meet with Palauan President
The British-Portuguese luxury fashion retailer Farfetch said it will accept crypto assets soon thanks to a partnership with the German crypto platform Lunu. Farfetch will accept seven different crypto assets including bitcoin, ethereum, and binance coin, and the feature will be rolled out to select clients and then expanded to the general public. Luxury House
Summary: The Merge on the Ropston testnet on Wednesday was largely successful as the pace picks up for Ethereum 2.0. A few bugs remain with client pairs and validating block proposals, but ETH developers assured that fixes are on the way. Developers also asked the community to help spot and report any bugs. Goerli And
There’s cause for celebration from the world’s largest cryptocurrency. The Lightning Network hit the 4,000 Bitcoin (BTC) public capacity milestone, meaning $120 million in value is ready for peer-to-peer payments. The Lightning Network first broke the 1,000 BTC barrier in August 2020 and the 2,000 BTC barrier in July 2021. The capacity has doubled in
The ever-raging debate around Bitcoin’s energy consumption has been re-ignited, with founding member of Ethereum Anthony Donofrio claiming that Bitcoin is using “way too much” energy. According to figures from Digiconomist, Bitcoin (BTC) currently uses 0.82% of the world’s power while Ethereum (ETH) uses 0.34%. Ethereum researcher Justin Drake posted the figures to his 56,000
Crypto custody firm Anchorage Digital has recently formed an exchange custody network with five digital asset trading platforms to segregate institutional client funds from exchanges into regulated asset vaults. In an announcement, the custodian mentioned that it has partnered with Binance.US, CoinList, Blockchain.com, Strix Leviathan and Wintermute. According to Anchorage, this will provide institutions with
Financial and technical information platform Bloomberg has vastly expanded its coverage of crypto markets after a decision to include data on the top 50 crypto assets to the Bloomberg Terminal. Product manager for cryptocurrencies at Bloomberg Alex Wenham suggested that as “the global institutional investor” community’s interest in digital assets continues to grow, they will
Bitcoin (BTC) is squeezing its miners this month as suppressed prices threaten to impact profitability. The latest data shows both narrowing profit margins and miners waiting longer to recoup their initial investment. Miner production cost faces off with BTC price While Bitcoin miners have largely held off on major distribution as BTC/USD descends from all-time
MasterCard is set to collaborate with central NFT marketplaces to facilitate easy NFT payments The company is collaborating with major NFT marketplaces such as Immutable X, Candy Digital, Nifty Gateway, The Sandbox, and more. MasterCard is all set to collaborate with leading NFT marketplaces to offer easy NFT payment options to its users across all
Legendary New York hip-hop artist and producer, Jay-Z has joined forces with the founder of Cash App, Jack Dorsey, to launch “The Bitcoin Academy,” an educational program advocating for the democratic vision that “education is power.” Exclusively available for residents of the Marcy Project public housing complex in New York City, the scheme will commence
Ether (ETH) is down 25% in just a month and even the recent upgrade to a proof-of-stake (PoS) consensus on the Ropsten testnet failed to move the altcoin’s price. The merge is meant to address energy-use issues and open a path for higher transaction output, but the actual full transition for the Ethereum network is
Two Bitcoin miners have told Cointelegraph that if the bill banning Proof-of-Work mining for two years in New York becomes law, it would end up triggering an exodus of mining companies from the state and do little to address the intended goals of the moratorium. GEM Mining CEO John Warren told Cointelegraph on June 8
The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Terraform Labs and the collapse of algorithmic stablecoin terrausd (UST). “SEC enforcement attorneys are investigating whether Terraform Labs broke securities and investment product rules.” SEC Launches Investigation of Terraform Labs and UST The U.S. SEC is investigating Terraform Labs and its algorithmic stablecoin terrausd (UST),
On a sun-splashed day in the Swiss Alps, the chief technology officer of Bitfinex and Tether, Paolo Ardoino, shed light on the Plan B Lugano strategy, Tether as an onramp into Bitcoin (BTC) and —crucially — his favorite pizza toppings. Fresh off the plane from Norway, where Ardoino attended an increasingly Bitcoiner-friendly event, the Oslo
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