Day: February 2, 2022

Russian region struggles to keep up with Bitcoin mining energy demands

boss

As cryptocurrency mining activity grows increasingly common in Russia, one local region is struggling to maintain power stability amid massive inflows of new crypto mining operations. Russia’s Irkutsk Oblast, a federal region and Russia’s major center of trade routes from China, experienced a fourfold increase in energy consumption in 2021 due to mining activities, local news agency TASS reported on Wednesday. Yevgeny Vechkanov, head of technology and development at the local energy firm Irkutsk Electric Networks, linked the rapid growth of crypto mining operations to the major crypto rally in 2021…

International data transfer agreement and addendum and transitional provisions laid before Parliament

ICO statement in response to the Department for Culture, Media and Sport (DCMS) laying the International data transfer agreement (IDTA), the International data transfer addendum to the European Commission’s standard contractual clauses (Addendum) and a document setting out transitional provisions as to the use of the current standard data protection clauses for international transfers before Parliament on 2 February 2022. This final step follows the consultation the ICO ran in 2021. The documents are issued under Section 119A of the Data Protection Act 2018.  An ICO spokesperson said: “We welcome…

Deutsche Bank Initiates Coverage of Metaverse Play Matterport, Sees Near 50% Upside

Deutsche Bank initiated coverage of metaverse play Matterport with a buy rating, calling the company a leader in the digitization of the built world. The bank’s analysts led by Bhavin Shah started coverage on Tuesday with a price target of $14, implying a 46% upside from the recent close. Matterport’s technology platform enables customers to create a digital twin of any space or building with relative ease, and this should drive impressive growth over the foreseeable future, the note said. Strong mindshare, a robust capture services network and a freemium…

Grayscale Launches First Equity ETF Tracking New Joint Index With Bloomberg

The BGFOF index was launched in January in conjunction between the two firms and tracks the performance of 22 financial services companies in the digital economy. The list of companies includes Silvergate Capital (SI), PayPal (PYPL), Coinbase Global (COIN), Block (SQ), Robinhood Markets (HOOD), Argo Blockchain PLC (ARB) and more. The index, which can include payments, exchange, asset management, hardware, blockchain/tech and mining companies, is rebalanced every quarter. Source

All the world’s Bitcoin can only pay 2.43% of $30T US national debt

boss

The United States’ national debt has passed $30 trillion — and even all the Bitcoin (BTC) in the world would hardly touch it. According to the latest official statistics, U.S. national debt is at levels never seen before, passing the psychological $30-trillion barrier for the first time this week. Bitcoin is worth less than 3% of U.S. national debt After two years of liquidity injections fuelled by issuing even more debt, the Federal Reserve is attempting to rein in what has become a practically incomprehensibly large debt burden. $30 trillion…

YOU ARE BEING LIED TO ABOUT CRYPTOCURRENCY IN 2022! (DO NOT BE FOOLED)

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Let’s discuss the LATEST crypto news for bitcoin, ethereum, lower cap altcoins, & MORE! Sign-up for Okcoin Exchange (100% Zero Fee Staking): #1 Crypto Exchange w/ CHEAPEST FEES (COINBASE KILLER) | Okcoin Interview 💰 Top Crypto Analyst Makes SHOCKING Bitcoin Prediction for 2022 | Lengthening Cycles Theory 🎸 Gene Simmons REVEALS His 10x Cryptocurrency Portfolio for 2022 (Top 2022 Altcoins) 📈 Raoul Pal Reveals His Top Altcoins to Watch RIGHT NOW Altcoin Daily, the best cryptocurrency news media online! Is ethereum a…

Blockchain Among Technologies to Be Prioritized by Saudi Arabia’s IT Decision Makers in 2022 – Technology Bitcoin News

boss

Blockchain is among six emerging technologies that will be prioritized by the Kingdom of Saudi Arabia (KSA)’s IT decision makers in 2022 and beyond, according to a recent study. Effect of Covid-19 The government of Saudi Arabia’s IT decision makers have named blockchain as one of the six technologies they plan to prioritize in 2022 and beyond, a survey study has found. In addition, the study found that an overwhelming majority of the decision makers agreed that Covid-19 has accelerated Saudi Arabia’s digital transformation. According to a Datatechvibe report, which…

Just-In-Time Liquidity: How MEV Can Enhance DeFi on Ethereum

What is MEV? Behind the scenes of most major blockchains, shadowy super-coders and the bots they build are using the transparency of blockchains and the transaction fee market to their advantage. By watching a database of all pending and unconfirmed transactions called the mempool, the bots are able to pay higher transaction fees to slip in their own transaction in an order that is profitable, often at the expense of decentralized finance (DeFi) users. This article originally appeared in Valid Points, CoinDesk’s weekly newsletter breaking down Ethereum 2.0 and its…

Crypto tax doesn’t legalize trading, says Indian tax department chief

boss

The head of the Central Board of Direct Taxes (CBDT) in India said the recent announcement of a 30% tax on crypto holdings doesn’t necessarily make the crypto trade legal in India. The finance minister of India announced a 30% tax on crypto holdings during the budget session on Feb. 1, triggering several headlines on the lines of “India legalizes crypto” However, CBDT chief JB Mohapatra aimed to debunk these misconceptions. Mohaptra in a post-budget presser said that the new crypto tax would help the income tax department measure the…

South African Regulator Issues Warning on FTX, Bybit

South Africa’s financial watchdog issued a notice warning consumers to be “cautious and vigilant” when dealing with crypto exchanges FTX and Bybit. The Financial Sector Conduct Authority said Tuesday that FTX is not authorized to trade in contracts for difference (CFDs), which are instruments that allow traders to speculate on the short-term movement of an asset’s price. “It has come to the attention of the FSCA that FTX might be offering the South African public, access to its online platform to trade in amongst others, derivatives instruments,” the FSCA said.…