Month: August 2022

Tether reserve attestations to be conducted by major European accounting firm

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In a step toward greater transparency and better alignment with international accounting standards, stablecoin operator Tether Holdings Limited has tapped BDO Italia to conduct regular reviews and attestations of its dollar reserves.  Tether, which operates the USDT stablecoin, officially began working with BDO Italia in July, the company disclosed on Thursday. BDO Italia will be responsible for conducting an independent review of Tether’s stablecoin reserves to ensure that each unit of USDT is backed by cash or cash equivalents. Through BDO’s reviews, Tether aims to release public attestation reports monthly…

Electricity Consumption of Russian Crypto Miners Spikes 20 Times in 5 Years, Research Finds – Mining Bitcoin News

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Power needs of cryptocurrency miners in Russia have grown significantly since 2017, with consumption of electrical energy seeing a 20-fold increase over the five-year period. In 2021, the minting of the coin with the largest market cap, bitcoin, required 1.25 gigawatts in the country. Experts say, however, that Russia has the spare capacities to satisfy much larger demand. Crypto Miners Spend as Much Power as Russian Farmers Electricity consumption in Russia’s crypto mining industry has been constantly rising since 2017, a new study has established. The positive trend led to…

Invest In Bitcoin Now Or You'll Regret This Moment – Lifetime Opportunity

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Bitcoin price heads above $23.5K after highest EU inflation in history

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Bitcoin (BTC) shifted higher on Aug. 18 as the latest data confirmed the European Union’s highest ever inflation. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Support and resistance close in on BTC spot price Data from Cointelegraph Markets Pro and TradingView showed BTC/USD passing $23,500 at the time of writing, having preserved $23,000 as support overnight. Concerns over a deeper risk asset drawdown had become widespread over the week, with Bitcoin and Ether (ETH) notably unable to crack long-term resistance levels. With bulls seemingly on the back foot, the mood…

Expert Outlines Best Crypto Assets To Hodl During Crypto Winter

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The crypto market has seen its most extensive greens after a long time of the bearish trend in the market. The event followed the positive report on CPI (Consumer Price Index) given by the U.S. Bureau of Labor Statistics in July. This announcement became the major push on the prices of Bitcoin and Ethereum. The CPI as of July dropped lower than the anticipated 8.5%, according to past reports. However, this doesn’t seem to contribute positively to potential inflation. To this effect, experts are now expressing concern about what they…