Day: April 19, 2023

Bitcoin (BTC) Price Tanks by $1,000 Over Last Hour amid Huge Liquidations

More than $25 million in Bitcoin futures have been liquidated over the last hour with longs contributing to 98% of the total liquidations. After a strong push above $30,000 on Tuesday, the world’s largest cryptocurrency Bitcoin (BTC) has come under heavy selling pressure once again. Over the last hour from press time, the BTC price came crashing down losing by more than $1,000 amid heavy liquidations. As of press time, the Bitcoin price is down by more than 2% and is currently trading at $29.228 levels. However, the recent sell-off…

Hong Kong Court Declares Crypto as Property in Case Involving Defunct Gatecoin

Liquidators sought directions from the court on whether the crypto held by Gatecoin should be treated as property held on trust or “if no trust existed, the digital assets should be made available to the general body of creditors,” according to the Hogan Lovells report. The exchange held crypto upwards of 140 million Hong Kong dollars ($17.8 million) in October 2022, the report said. Source

World’s Wealthiest Cities Increase Their Millionaire Populations, with New York City and China’s Hangzhou as Best Performing

New York City and Hangzhou are the world’s wealthiest cities considering number of HNWIs and millionaire population growth. A new report on wealth growth in some of the world’s largest cities has revealed new figures for the world’s wealthiest cities. According to London-based investment migration consultancy firm, Henley & Partners, there is still some growth in millionaire numbers in several cities despite a biting recession. The report uses data recorded up to December last year. According to Henley & Partners, New York City has the highest number of high net worth individuals…

Intel Discontinues Sale of Bitcoin Mining Chips in Major Setback to Crypto Miners

Within a year of launching its Blockscale 1000 Series ASICs, Intel has continued to discontinue this product but shall take orders for the same up to October 20, 2023. A year after Intel officially announced the sale of its Bitcoin mining Blocksale ASICs, the company finally took the decision to discontinue the sale of its Bitcoin mining chips. As per the announcement on Tuesday, Intel said that the last product to be shipped shall be no later than April 20, 2024. The development comes at a time when there’s growing…

Russia Developing Payment Gateways With Partners Like Turkey, Mulling Crypto Settlements – Finance Bitcoin News

boss

Bank of Russia is building a system of gateways with foreign payment networks and is now working with Turkey in this field. Russia’s monetary authority would also allow the experimental use of cryptocurrencies in foreign economic activities, its head was quoted as saying. Russia’s Central Bank ‘Actively Working’ With Turkey on New Payment Gateways The Central Bank of Russia (CBR) is developing payment gateways with foreign payment systems and is actively working with Turkey in this area, Governor Elvira Nabiullina said at a meeting with lawmakers in the State Duma,…

Arkansas embraces bitcoin mining regulation

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Arkansas has recently passed the Arkansas Data Centers Act of 2023, a bill to regulate bitcoin (BTC) mining within the state.  The legislation, now awaiting the governor’s approval, aims to create guidelines for miners, protect them from discriminatory regulations and taxes, and acknowledge the positive economic impact of data centers on local communities.  The move follows a similar initiative in Montana and contrasts sharply with New York’s recent crypto-mining ban. The Arkansas Data Centers Act of…

Bitcoin miner revenue from fees declines amid a drop from $30k

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) miners are witnessing a significant decline in revenue generated from transaction fees amid the asset’s drop from the highly-coveted $30,000 price point. This metric suggests that market participants are paying fewer transaction fees on the bitcoin network. The percentage of miners’ revenue generated from transaction fees has plummeted to a 1-month low of 2.516%, per data from a Glassnode chart. The chart reveals a steep decline in this metric observed since the beginning of…

UK Inflation Remains in Double-Digit in March 2023 at 10.1%

As for the monthly change, the largest downward contributions in both the CPIH and CPI annual rates are from motor fuels, as well as housing and household services (particularly liquid fuels). According to the Office for National Statistics, UK inflation maintained double digits in March at 10.1%. Meanwhile, there was a consensus projection in a Reuters poll of economists of 9.8%. The unexpected inflation in March shows that UK households are still struggling with high food prices and energy bills. Although the consumer price index went higher in March, it…

The Bitcoin mining boom is quietly going parabolic

boss

Bitcoin (BTC) may be struggling at $30,000, but under the hood, all-time highs of a different kind keep coming. The latest data shows that Bitcoin network fundamentals — difficulty and hash rate — will hit new records this week. Bitcoin mining difficulty, hash rate refuse to slow down Bitcoin’s 2023 recovery has been about more than just BTC price action, with miners seeing a significant turnaround of their own. As BTC/USD added 70% in Q1 alone, pressured mining participants saw some much-needed relief after the bear market squeezed profit margins…

CoinEx Charity’s Effort to Support Education Is Appreciated by Kacuv – Press release Bitcoin News

boss

press release PRESS RELEASE. Recently, CoinEx Charity has kicked off its second educational welfare program in Türkiye. In the first program, all the students receiving donations have continued their studies in the new semester. Since last year, CoinEx Charity has participated in the Umudum Scholarship Program initiated by the local charity organization Kacuv in Türkiye, offering support in tuition to 50 local impoverished students. The Umudum Scholarship Program provides scholarships for students in preschools, primary schools, secondary schools, and universities in Türkiye who need financial support to continue their studies.…