Month: July 2022

US Treasury Develops ‘Framework’ for International Crypto Regulation

CryptoX – Cryptocurrency Analysis and News Portal The fact sheet, which is the first report published as a result of U.S. President Joe Biden’s executive order on crypto, said the framework “is intended to ensure that … America’s core democratic values are respected,” pointing to consumer, investor and business protection, the safety of the global financial system and interoperability. Source The post US Treasury Develops ‘Framework’ for International Crypto Regulation appeared first on CryptoX. CryptoX Portal

Bitcoin miners sell their hodlings, and ASIC prices keep dropping — What’s next for the industry?

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Crypto companies are going belly up left and right, and Bitcoin mining companies also appear to be taking on water faster than they can bail. In mid-June, Compass Mining CEO Whit Gibbs and chief financial officer Jodie Fisher abruptly resigned after allegations that the Bitcoin mining hardware and hosting company had failed to pay hundreds of thousands of dollars in overdue electricity bills to Dynamics Mining, a facility provider for Compass. Bloomberg recently reported that many industrial-size Bitcoin miners took on a significant amount of debt by leveraging their equipment…

Coinbase Shows Crypto Market Performing Similar To Other Traditional Markets

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Crypto coins exhibited exponential growth through the years, raising attention to the crypto space. There was no correlation between crypto performance and the conventional stocks of different commodities. However, all that seems to be fading into thin air from the recent activities and trends of digital assets. The chief economist of Coinbase, a crypto exchange, has reported a change in the risk profile of crypto assets. According to the analysis from Cesare Fracassi, crypto performance is similar to those of stock commodities. This means that prices of crypto assets now…

How will NFTs bridge traditional gaming with blockchain? Enjin’s CTO Witek Radomski explains

When it comes to nonfungible tokens, or NFTs, the subject is often a hit or miss for traditional gamers. While some players welcome the idea of being able to trade in-game digital collectibles for real money, others lament that NFTs could potentially take away the inherent entertainment built within games. So can NFTs contribute any additional value to traditional games, other than turning them into play-to-earn “moneymakers?” To answer this, Cointelegraph Markets Pro spoke to Enjin’s chief technology officer and co-founder Witek Radomski via an ask-me-anything session. Enjin offers a…

Argo Blockchain reports selling 637 BTC to pay debts

Argo Blockchain has joined crypto mining firms including Bitfarms, Core Scientific and Riot Blockchain in selling part of its Bitcoin holdings. In a Thursday blog post, Argo said it sold 637 Bitcoin (BTC) in June for an average price of $24,500 — roughly $15.6 million. The company planned to use the funds to reduce its debt to Galaxy Digital, from which Argo secured separate $20 million and $25 million BTC-backed loan agreements in 2021. The mining company reported that as of June 30, it had an outstanding balance of $22…

Mt. Gox Effect On Bitcoin Resurface, Victims to Receive 150K BTC?

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Victims from crypto exchange Mt. Gox hacked could finally see compensation for their lost Bitcoin. Almost a decade after an attack forced the platform to shut down, users began a long litigation process which could be which could bear fruit in the next coming months. Related Reading | Bitcoin Funding Rates Are Climbing As Price Continues To Struggle In the crypto space, people have been following the case due to its potential implications for the Bitcoin market. In 2014, a bad actor managed to steal over 850,000 BTC, Mt. Gox managed…

World’s largest bitcoin fund sues SEC over crypto ETF rejection

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Digital currency asset manager Grayscale is suing the U.S. Securities and Exchange Commission in response to its latest rejection of the company’s prospective spot bitcoin exchange-traded fund. Last Wednesday, the SEC denied Grayscale’s application to convert its bitcoin trust to a spot ETF. The company filed a lawsuit the same day.  Grayscale Bitcoin Trust, under the ticker GBTC, is the world’s biggest publicly traded bitcoin fund. “We were simply asking the SEC to hold this product to a higher standard, to give it greater investor protection and give greater risk…