Crypto firms are likely familiar with the mechanics of stablecoins already, a class of crypto-asset meant to track the value of fiat. In fact, on centralized exchanges, the volume of stablecoin transactions rose to 90% from 79% last year, replacing in particular USD-based trading pairs, CFA Conor Ryder noted. Source
In mid-November 2022, Hut 8 stopped mining with 7,000 rigs at a site in North Bay, Ontario due to an ongoing dispute with its energy provider, Validus Power. Hut 8 has now removed all machines from the facility to a site in Medicine Hat, Alberta. Pressed about progress by analysts on the company’s earnings call Thursday morning, Hut 8 CEO Jaime Leverton said the firm is assessing opportunities to energize the miners but didn’t give any concrete alternatives. Source
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Welcome to the latest episode of our student podcast on YouTube, hosted by Lidia and Jonas! In this episode, they sit down with … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version
Buterin sold 9.9 billion CULT tokens, the native token of the CultDAO, for 58 ether (ETH). He also sold his BITE and MOPS holdings, according to blockchain analyst PeckShield. In total, the sales added up to 220 ether, which is worth $332,420 at current prices. Source
Can environmentalists and regulators destroy bitcoin’s value? When Tesla stopped accepting bitcoin because of the blockchain’s “increasing use of fossil fuels”, were environmentalists drawing a line? If they team up with the regulators forcing big businesses to offset their carbon footprint, could this kill proof-of-work cryptocurrencies? Ethereum has already changed its system to proof-of-stake. Erth points could be offering a solution. It’s a commercialized, operational, and scalable system available on a free app. With their global partner Oracle Corp looking after data and security to help repair the planet, their system is…
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After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate. However, some critics are dismissing Warren’s opinion as “terribly misinformed” and claim that she is “tossing out egregious accusations.” Crypto Proponents Offer Different Perspectives on Silvergate Bank’s Downfall After Elizabeth Warren Blasts So-Called ‘Crypto Risk’ Hours after Silvergate Bank announced its liquidation, U.S. senator Elizabeth Warren (D-MA) tweeted about the financial institution’s demise. Warren once again referred to cryptocurrencies as risky…
In November, Block.one and its CEO, Brendan Blumer, bought a 9.27% stake in Silvergate Capital (SI), upping that to 9.9% in December, according to Bloomberg, making them one of the bank’s biggest stockholders. On Wednesday, the Cayman Islands-based company said it had exited its stake in the bank. Source
Zhu Su and Kyle Davies, the founders of bankrupt hedge fund Three Arrows Capital, last month teamed with the co-founders of troubled crypto exchange CoinFLEX to create Open Exchange, calling it the “world’s first public market place for crypto claims trading and derivatives.” Source
The firm said it is advancing to the second phase because of the satisfactory results it got from the first phase of trials. The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has announced the advancement of its Central Bank Digital Currency (CBDC) and is set to move on to a second phase of testing to assess applications like trade finance and securities settlement according to a Coindesk report based on the firm’s announcement. SWIFT occupies a very pivoting position in the world’s financial ecosystem as a primary avenue by which…