Day: October 13, 2021

US Claims Bitcoin Mining Crown Following China Crackdown

The U.S. has become the world’s leader in bitcoin mining following the renewed crackdown on the industry in China, the Cambridge Centre for Alternative Finance (CCAF) said. The latest CCAF data shows the U.S accounting for 35.4% of the global hashrate – the world’s total computational power used to mine bitcoin – as of the end of August, more than doubling from 16.8% at the end of April. Kazakhstan and Russia followed the U.S. with shares of 18.1% and 11%, respectively, up from 8.2% and 6.8%…

Bitcoin bulls target prices above $58K ahead of Friday’s $820M options expiry

Everyone is talking about a six-figure Bitcoin (BTC) price now that the digital asset has broken out of its multi-month downtrend and confirmed that a bullish trend is in play.  If Bitcoin happens to enter a parabolic move toward $110,000, that would finally match PlanB’s Stock-to-Flow model prediction. According to the pseudonymous analyst, the scarcity and valuation of gold and other precious metals and “Elon Musk’s energy FUD and China’s mining crackdown” are a few of the factors responsible for the past five months of 50% or higher inaccuracy in…

Bitcoin Mining After the China Ban: US Dominance Is Set to Continue

Following China’s sweeping crackdown on the crypto industry, the U.S. has taken the Bitcoin mining mantle for the first time – and industry CEOs don’t see the trend stopping anytime soon. “I foresee the U.S. continuing to play a leadership role in terms of share because of the jurisdiction,” said mining firm Bit Digital’s Chief Executive Officer Bryan Bullett in an interview with CoinDesk. “Nobody wants to operate in a region where they face existential risks,” he added. In fact, the Bitcoin network’s hashrate, the measure of computational resources used…

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Andreessen Horowitz Doubles Down on Crypto Investments With New $515M Fund

Andreessen Horowitz’s (a16z) second crypto fund shows the venture capital firm is targeting specific areas to invest in the cryptocurrency space. The company said Thursday it had raised a total of $515 million – more than the original $450 million target – for a second fund called “Crypto Fund II,” dedicated to cryptocurrency and blockchain projects. It’s also more than the $300 million raised for the VC’s first crypto fund, which launched back in the summer of 2018. In the blog post announcing the new fund, a16z says it is…

Regulators should pursue crypto as a ‘matter of urgency’

Jon Cunliffe, deputy governor for financial stability at the Bank of England, said the risks of a growing crypto market on the financial system are “relatively limited” at the moment but have the potential to grow very rapidly if regulators do not keep pace. In a speech to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) on Oct. 13, Cunliffe said policymakers around the world have only just started to develop the framework needed to properly regulate digital assets but should pursue it “as a matter of urgency.” The deputy…

NFTs Are Coming to Fox TV Show ‘Masked Singer’ — CoinDesk

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source

Swiss Bank Seba Now Lets Customers Earn Yield on Crypto Holdings – Finance Bitcoin News

A FINMA-licensed Swiss bank, Seba, has launched a program enabling clients to earn yield on their crypto holdings. In addition, the bank will “provide support for centralized lending and borrowing services, enabling investors to generate yield by lending bitcoin and ethereum directly with Seba Bank.” Seba Earn Lets Clients Generate Rewards From Crypto Investments Seba Bank, a digital asset banking platform licensed by the Swiss Financial Market Supervisory Authority (FINMA), announced the launch of Seba Earn Wednesday. The Switzerland-based bank described the new offering as “an institutional-grade solution enabling clients…

Huobi Ventures and Republic Team Up on Cross-Border Crypto Accelerator — CoinDesk

“Liquidity support from the centralized exchange has always been seen as a critical milestone for crypto startups,” said Unica Yin, Investment Director of Huobi Ventures, in a statement. “Through the collaboration with Republic from an accelerator perspective, we envision that this would provide the comprehensive support to the project throughout the entirety of its life cycle, thus elevating product value in applicable scenarios rather than merely to look for quick returns in investment.” Source