Day: January 18, 2022

The House Looks Into Crypto's Energy Impact

A House committee will take a look at crypto and its energy requirements this week. It’s another congressional look at crypto. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. Yet another crypto hearing The narrative Crypto’s energy use has been under scrutiny for quite a while. We’re going to hear from U.S. lawmakers about the issue for the first time in years on Thursday, when the House Energy and Commerce Committee hosts a hearing titled “Cleaning Up…

First Mover Asia: Fed Tightening, Economic Woes Continue to Spook Crypto Investors

Good morning. Here’s what’s happening: Market moves: Bitcoin and ether go down and then up; altcoin prices are mixed. Technician’s take: BTC appears oversold into the Asia trading day, but upside remains limited. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin (BTC): $42,463 +0.8% Ether (ETH): $3,166 -1.3% Top gainers Asset Ticker Returns Sector Cardano ADA +9.1% Smart Contract Platform Litecoin LTC +4.0% Currency Top losers Asset Ticker Returns Sector Cosmos ATOM −7.9% Smart Contract Platform Chainlink LINK −7.2% Computing…

Advisers, Pay Attention to Stablecoins

As stablecoins become an attractive option for clients, the Registered Investment Advisor (RIA) industry needs to adapt in order to integrate this new technology into the existing infrastructure. Advisers need to educate themselves today to prepare for a future filled with stablecoins. Source

DeFi’s Wonderland Is Buying TIME

Decentralized finance (DeFi) protocol Wonderland saw its TIME token briefly drop below its treasury-backed value on Monday, prompting the team to buy back millions worth of TIME tokens to bolster the price. Wonderland falls within a category of popular DeFi projects known as “Ohm forks,” experimental protocols with aims of creating an independent monetary system. Yesterday’s incident appears to be the first time an Ohm fork has stepped in with buybacks, perhaps the crypto version of central bank carrying out quantitative easing. On Monday afternoon, the price of TIME plummeted…

Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think?

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Bitcoin has made its own fair share of millionaires and with the recent bull rally, there is no doubt that this number went up drastically. This has led to a number of issues of investors who have made their money off the digital asset, the main one being taxes. A lot of these millionaires have begun to flee to places with less strict tax laws, as well as better weather conditions. Bitcoin Millionaires Flock To Puerto Rico A recent report from CNBC documents the movements of bitcoin millionaires towards Puerto…

What is Bitcoin’s Lightning Network?

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Despite significant growth in recent years, the Lightning Network still faces challenges to overcome if it wants to solve bitcoin’s scalability issues. The most demanding issue is security. Because nodes on the Lightning Network are required to always be online, they become more vulnerable to attacks. And while the network aims to reduce fees incurred from processing transactions on bitcoin’s main network, it includes its own set of additional costs for opening and closing channels, along with routing fees. These are issues that will likely be solved with time, as…

Heavyweight Champ Francis Ngannou Plans to ‘Take Half of His UFC 270 Purse Paid in Bitcoin’ – Bitcoin News

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The reigning UFC Heavyweight Champion Francis Ngannou has announced the mixed martial artist has partnered with the payments firm Cash App and plans to take half of his UFC 270 purse in bitcoin. Ngannou told his 620,100 Twitter followers that he believes “bitcoin can empower people everywhere.” ‘Bitcoin Is the Future and I’m a Believer’ — Mixed Martial Arts Champ Francis Ngannou to Take Half of His Purse in Bitcoin On January 18, 2022, the Ultimate Fighting Championship (UFC) Heavyweight Champion Francis Ngannou explained that the fighter plans to get…

Win up to 3,000 USDT at LBank Exchange’s 100% Winning Event! – Press release Bitcoin News

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press release PRESS RELEASE. Isn’t it always nice to know that you are guaranteed to win? It’s not a dream as long as you participate in the latest lottery event hosted by LBank Exchange! With a 100% chance of winning, you may even end up bringing yourself great luck with the jackpot worth of 3,000 USDT as well as other exciting prizes! This lottery event will start from Jan. 14th, 2022 and end on Feb. 2nd, 2022 (UTC+8). You will receive the lottery code by simply completing designated tasks. Prizes…

Intel to reveal new energy-efficient Bitcoin mining ASIC at next ISSCC

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Reports indicate that Intel, one of the largest computer processor manufacturers, intends to reveal a new “Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC” known as Bonanza Mine at the upcoming IEEE International Solid-State Circuits Conference in February 2022.  Intel submitted a patent in November 2018 outlining similar ideas for “high-performance Bitcoin Mining.” It is suspected that the processes described in the patent could make their way into the product being shown off at the ISSCC. According to the patent, the ASIC behind the Bonanza Mine will be able to finish calculations just as effectively…

OpenSea acquires Dharma Labs and a new CTO

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OpenSea announced Tuesday the acquisition of Dharma Labs, a cryptocurrency lending platform and digital wallet, for an undisclosed amount. According to the statement, Dharma Labs would effectively shut down and its co-founders, Nadav Hollander and Brendan Forster, will become OpenSea’s new chief technology officer and its head of strategy, respectively. OpenSea claimed this acquisition will help accomplish its mission to scale product development, grow its team, expand its safety and reliability efforts and invest in the nonfungible token (NFT) and Web3 ecosystem. I’m happy to finally share that we’ve acquired…