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 Biarritz’s Surfin Bitcoin Conference in France

A sublime sunset enveloped Biarritz Casino on Aug. 27, bringing France’s 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 OG’s, 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 — from Galoy Money to Découvre Bitcoin —…

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 country’s 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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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.  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…

Argentine Startup Action Point Develops White Label Solution to Include Crypto in Traditional ATMs – Technology Bitcoin News

Action Point, an Argentine startup, has developed a white-label solution that allows banks to offer cryptocurrency services through their already existent ATM infrastructures. The company provides this service in partnership with Lirium AG, a crypto-as-a-service organization, and has already implemented the solution in over a dozen ATMs in the country. Argentine Startup Action Point Takes Crypto to Fiat ATMs Latam has been a fertile land for crypto adoption, and now banks in Brazil and Argentina are including cryptocurrency services on their platforms. Action Point, an Argentine startup, aims…

Binance in Talks With Nigeria to Develop Blockchain Hub

Nigeria and crypto exchange Binance are in talks to establish a digital hub like the Dubai virtual free zone to propel blockchain growth in the country, according to the Nigeria Export Processing Zones Authority.  Nigeria sees the transformation of a digital hub as a stepping stone toward diversifying its economic scope beyond crude oil. The Nigerian administration has been rolling out crypto-friendly initiatives. The partnership will trigger the creation of a digital economic zone that will offer entrepreneurs more blockchain opportunities. Earlier this year, the country’s Securities and Exchange Commission (SEC)…