Bitcoin mining company Canaan said revenue surged 237% from the year-earlier quarter to $213.9 million. Source
Mining-Rig Maker Canaan Q1 Revenue More Than Triples
Month: May 2022
Despite Criminalizing Mining, Abkhazia Uncovers Another Crypto Farm – Mining Bitcoin News
Even after introducing fines and criminal liability for cryptocurrency mining, Abkhazia continues to find underground facilities for digital currency extraction. This week, law enforcement officials have confiscated dozens of mining devices from an illegal crypto farm. Abkhazia Shuts Down Crypto Farm, Seizes Mining Hardware Police in Abkhazia have closed down another crypto mining installation in a rural area of the breakaway Georgian republic. The illegal coin minting facility was located in the village of Yashtuha, Sukhumi region, the Ministry of Internal Affairs announced. Representatives of the interior ministry, together with…
Music Fans Rejoice as YellowHeart Protocol Is Set to Launch on Bittrex Global Starting Block – Sponsored Bitcoin News
sponsored YellowHeart Protocol, an NFT platform poised to disrupt the ticketing and music industries, is set to launch its utility token, HRTS (pronounced “Hearts”), on Bittrex Global’s IEO Platform Starting Block as the platform’s debut project on May 24 at 13:00 UTC. YellowHeart Protocol Is a Significant Milestone in the History of Event Ticketing System The first ever event tickets can be traced back to ancient Rome. Not issued on paper, but on a little piece of clay. People’s passion for public cultural events never stopped since, and it was…
A16z Leads $15M Round for P2E Studio Azra Games
“As a kid, I spent countless hours role playing with all of my different toys,” Otero said in the press release. “At Azra, we are making a game to recreate this joy, to re-engage adults’ imaginations once again with the ultimate collectibles fantasy, combined with the ultimate fast-paced mix-and-match combat that is accessible yet deeply strategic.” Source
Curve Finance Proposes to End CRV Token Emissions on All UST Pools
4pool was launched in early April and is composed of two decentralized stablecoins, UST and Frax Finance’s FRAX, and two centralized stablecoins, USD Coin (USDC) and Tether (USDT). Vocal backers included Terra’s Kwon, who even tweeted that the 4pool’s “goal is to starve 3pool,” the biggest Curve pool. Source
Terra crash not a risk to the broader crypto ecosystem, says Huobi Global CEO
As the fall of Terra (LUNA) and TerraUSD (UST) may have a noticeable short-term impact on the decision-making of both retail and institutional investors, it doesn’t pose a risk to the larger crypto ecosystem, according to Du Jun, CEO of Huobi Global CEO. In an interview with Cointelegraph, Jun explained that the collapse of Terra will affect the ecosystem by slowing down investor interest in crypto as an asset class. However, Jun noted that this will only be a short-term effect. In the long term, the exchange CEO explained that…
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Terra Backers Delphi Digital and Hashed Lick Their Wounds After UST and Luna Collapse
“We believed a high level of external collateralization was a necessity in the long run, and we saw this as a path to get there. Unfortunately, it didn’t grow fast enough compared to UST supply, and, combined with a fall in value of the BTC reserves, the liability overhang was too large to be defended,” Delphi wrote. Source
BofA Says Crypto Winter, Contagion Risk Concerns Are Overdone
Investors wondering why digital assets are not outperforming traditional ones should be aware that the cryptocurrency ecosystem is an “emerging tech asset class and the tokens that power the ecosystem trade like high growth, speculative risk assets,” analysts led by Alkesh Shah wrote in a May 17 note. Source
FTX US Debuts Stock Trading in Push for Bigger Slice of US Retail Pie
FTX US will not charge commissions or trading fees in keeping with the low-cost brokerage model that Robinhood (HOOD) rode to fame. it will not monetize traders’ orders by selling the flow to high-frequency traders, a controversial practice called payment for order flow for which Robinhood has been criticized. Source