Day: October 26, 2022

SushiSwap to create three DAOs in Panama and Cayman in business restructuring

The Sushi DAO, a decentralized autonomous organization behind crypto exchange SushiSwap, has approved a legal restructuring on Oct. 26 that creates three new decentralized entities, aiming to provide more flexibility to its operations. The proposal, which received 100% votes in favor, will create the DAO Foundation, the Panamanian Foundation, and the Panamanian Corporation, each serving different purposes. Among other things, the DAO Foundation will be able to administer treasury, grants and on-chain governance processes, and facilitate proposals and voting. The Panamanian Foundation will administer the existing Sushi protocol (including smart…

Bitcoin analysts map out the key bull and bear cases for BTC’s price action

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Research has detailed Bitcoin’s recent record-low volatility and while traders expect an eventual price breakout, the Oct. 26 BTC price move to $21,000 is not yet being interpreted as confirmation that $20,000 has now become support.  In a recent “The Week On-chain Newsletter,” Glassnode analysts mapped out a bull case and a bear case for BTC. According to the report, the bear case includes limited on-chain transaction activity, stagnant non-zero address growth and reduced miner profits present a strong Bitcoin sell-off risk but data also shows that long-term hodlers are…

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United Kingdom banks hate crypto, and that’s bad news for everyone

In 2018, the United Kingdom’s Financial Conduct Authority (FCA) wrote to the heads of the country’s biggest high street banks to emphasize the importance of due diligence when dealing with crypto businesses. That seems to have led to widespread high-risk ratings and bans on crypto-related banking, impacting both crypto businesses hoping to operate in the U.K. and investors alike. Banks are, understandably and responsibly, concerned with scams, but the current situation creates uncertainty. Crypto investors need to be able to move their money around as they like, and crypto businesses…

BIS releases full report on mBridge wholesale CBDC platform after successful pilot

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The Bank for International Settlements (BIS) has released the full details of its mBridge pilot project to use central bank digital currencies (CBDCs) for foreign exchange. Commercial banks in four jurisdictions made cross-border transfers using CBDCs and distributed ledger (blockchain) technology in the project, which was heralded as a success. Twenty commercial banks in Hong Kong, China, the United Arab Emirates and Thailand used the custom-made mBridge Ledger platform and CBDCs issued by their respective central banks to conduct payment and foreign exchange payment-versus-payment transactions on behalf of their corporate…

Norway Steps Into Metaverse With Decentraland Tax Office

At the Nokios conference on Wednesday, the Brønnøysund, Norway’s central register, and Skatteetaten, the nation’s tax authority, announced that they’re partnering with consulting firm Ernst and Young (EY) to establish an office in Decentraland. The goal of the initiative, according to Nokios, is to deliver services to younger, tech-native individuals while establishing their Web3 footprint. Source

Aspen Creek Digital and Compass Mining to Host Thousands of Bitcoin Mining Rigs at Texas Solar Farm – Mining Bitcoin News

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On October 26, the bitcoin mining operator Aspen Creek Digital Corporation (ACDC) announced that the company has commenced operations at its solar farm-powered high performance computing center (HPCC) in Texas. ACDC further detailed that the company inked a deal with the firm Compass Mining in order to host 27 megawatts (MW) of capacity, which will be deployed in the fourth quarter of this year. Aspen Creek Digital and Compass Mining Announce Hosting Partnership According to the bitcoin mining company Aspen Creek Digital Corporation (ACDC), the firm’s second HPCC has started…

What a Web3 Hackathon Teaches Us About Diversity in Crypto

“At CRADL, we think of hyperlocal as the counterbalance to ‘mass market.’ A hyperlocal community can be geographically dispersed, but everyone in it shares something unique that keeps them small and connected,” Katherine Paseman, a project lead at CRADL, or the Crypto Research and Design Lab, said in an interview. Source

Dogecoin (DOGE) Rallies With Over 10% Gains; Will Price Finally Hit $0.1?

DOGE’s price shows strength as it bounces from a downtrend range with high volume, aiming for a rally to $0.1. DOGE faces a major test to trend higher above $0.1 after the price broke out of its long-range price movement. DOGE’s price remains strong above the 50 Exponential Moving Average (EMA) as it attempts to rally past a key area of $0.1. The price of Dogecoin (DOGE) has remained strong after breaking out of its long-range with good volume as it aims to capture the region of $0.1. The crypto…