Citi: Ether Extends Rally Ahead of the Merge Despite Bitcoin Weakness Source
Citi: Ether Extends Rally Ahead of the Merge Despite Bitcoin Weakness
Day: September 5, 2022
Russian Arrested for Defrauding Buyers of Mining Hardware Worth Over $300,000 โ Mining Bitcoin News
Police in the southern Russian city of Astrakhan have detained a man accused of defrauding people who wanted to purchase crypto miners. Law enforcement officials say the suspect made millions of rubles through fictitious sales of mining devices to Russian citizens and foreigners. Investigators Claim Russian Made Money Selling Nonexistent Crypto Mining Rigs A resident of Russian Republic of Tatarstanโs capital city, Kazan, has been apprehended in Astrakhan, Southern Russia, for allegedly defrauding 10 local residents and a number of foreigners who tried to buy mining equipment from him. The…
Bitcoin in Accumulation Phase Despite Macro Headwinds, On-Chain Data Indicate
The Puell Multiple, a tool that measures one-year revenue growth among bitcoin miners, indicates there’s buying interest among investors and, with a reading of 0.5, places bitcoin in a so-called green zone for those looking to build long-term exposure to the coin, CryptoQuant analysts told CoinDesk. The metric entered the green zone in the last leg of the previous bear market, which preceded weeks of price consolidation and a subsequent revival, as reported. Source
Ripples of Bitcoin adoption at Biarritzโs Surfin Bitcoin Conference in France
A sublime sunset enveloped Biarritz Casino on Aug. 27, bringing Franceโs largest Bitcoin (BTC) conference to a close. Located in southwest France and organized by French Bitcoin exchange Stackin Sat, Surfin Bitcoin assembled a host of Bitcoin OGโs, newbies and no coiners, those yet to buy or earn crypto, in a setting that would rival any Hollywood film set. Bitcoiners networked in the hope of learning more about the Lightning Network, landing jobs at one of the many French Bitcoin companies present โ from Galoy Money to Dรฉcouvre Bitcoin โ…
Poolin, One of the World’s Biggest Bitcoin Mining Pools, Acknowledges Liquidity Issues
In a post on his WeChat Moments on Sunday, akin to a Facebook newsfeed, Poolin CEO and founder Kevin Pan acknowledged that the company is lacking liquidity, but said user assets are safe. Pan wrote that the company’s net worth is still positive and that there will soon be a plan as to how to deal with the issues, according to a screenshot of the post. The plan might involve taking on debt backed by equity or machines, he wrote. Original
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Bank of Russia agrees to legalize crypto for cross-border payments: Report
The Bank of Russia, the countryโs central bank, has reportedly admitted that cross-border payments in crypto are inevitable in the current geopolitical conditions. The Russian central bank has been rethinking the approach to regulating crypto and agreed with the finance ministry to legalize crypto for cross-border payments, the local news agency TASS reported on Sept. 5. Deputy finance minister Alexei Moiseev reportedly said that the Bank of Russia and the finance ministry expect to legitimize cross-border payments in crypto soon. Moiseev outlined the importance of enabling local crypto services in…
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Nigeria Plans to Create a Virtual Free Zone With Binance Crypto Exchange
The west African country has held discussions with Binance about creating something similar to Dubaiโs virtual commercial city. Source
CoinGecko co-founder shares strategy for forked tokens
Many believe that after Ethereum transitions to proof-of-stake (PoS), a faction of Ether (ETH) miners will be creating a proof-of-work (PoW) fork of the network so that they can still keep mining. An executive believes that there are ways for ETH holders to take advantage of this upcoming event.ย In a Twitter thread, Bobby Ong, the co-founder of token information website CoinGecko, shared his strategies when it comes to the upcoming ETH Merge. According to Ong, ETH holders will soon be getting airdrops of ETH PoW tokens and shared some…