Day: November 3, 2022

Quebec’s energy manager to seek government approval to stop powering crypto miners

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Hydro-Québec, the firm managing electricity across the Canadian province of Quebec, plans to reallocate energy supplied to crypto mining firms.  According to a Nov. 3 tweet from Canadian lawmaker Pierre Fitzgibbon, the government will request a decree from the energy board to release the company from its obligation to power crypto miners in the province. Hydro-Québec allocated 270 megawatts toward the mining firms, but electricity demand in Québec is expected to grow to a point that powering crypto will put pressure on the energy supplier. The report Hydro-Québec filed with…

UBS AG launches digital bond settled on blockchain and traditional exchanges

Swiss investment bank UBS AG introduced its hybrid digital bond on Nov. 3, claiming to be the world’s first publicly traded and settled on both blockchain-based and traditional exchanges. According to the bank, the digital bond has the same instrument structure, legal status and rating as a traditional UBS AG senior unsecured note. In its statement, the bank said: “Through this bond, UBS enables investors, regardless of whether they have the blockchain infrastructure, to invest in a digital bond. This removes a hurdle on the way to adopt new disruptive…

Traditional firms likely won’t be leading the charge in the next generation of Web3 games — WAX CEO

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Traditional ideas about gaming, coming from both the firms developing the games and the players themselves, could slow down adoption of Web3 games, according to WAX co-founder and CEO William Quigley.  Speaking to Cointelegraph at a Web Summit panel in Portugal on Nov. 3, Quigley said “trying to build a video game using a blockchain is a pain in the ass,” clarifying that many of the products on the market are based on browsers but utilize in-game digital assets on the blockchain. The WAX CEO added that nonfungible tokens, or…

Circle Begins Putting Reserves Into New BlackRock Fund

“From the start, we’ve managed the USDC reserve to minimize risk – liquidity, counterparty, operational, reputational and more – so that USDC holders can be confident their money is sound and redeemable 1:1 for U.S. dollars at any time,” the company said in a statement. Placing the assets in a fund overseen by the SEC could further bolster the company’s assertions of safety. Source

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Santander UK limits crypto transactions for its customers

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Multinational banking group Santander has placed a limit on all crypto transactions for its customers in the UK. The group cited cryptocurrency fraud warnings from regulators as the reason behind its decision.  According an announcement on Nov. 3, the bank plans to protect its customers from the risks associated with investing in crypto assets, sharing that: “money held in customers’ crypto wallets is unlikely to be protected by the Financial Ombudsman Service and Financial Services Compensation Scheme if something goes wrong.” In an alleged effort to shield its customers from crypto-related risks, Santander…

MATIC On The Move After Polygon Tapped By META

In this episode of NewsBTC’s daily technical analysis videos we are looking at MATIC following a more than 10% intraday move on the back of the announcement that META would use Polygon for Instagram NFTs. Take a look at the video below: VIDEO: Polygon Price Analysis (MATICUSD): November 3, 2022 MATIC Gives Golden Cross Signal On Daily Technical indicators on the daily chart exhibit strength relative to the rest of the crypto market. For example, price is above the mid-Bollinger Band and tagging the upper band; it is well above…

Canada Announces Crypto, Stablecoin Consultation in New Budget Statement

The Fall Economic Statement, a mini-budget released by Deputy Prime Minister Chrystia Freeland, is the government’s fiscal roadmap over the coming months. Among provisions on taxes, recovering from COVID and hurricanes, and budget projections was a section on the “digitalization of money,” which highlighted cryptocurrencies and digital assets and their use worldwide. Source