Currently, publicly listed miners mine at a cost of $10,000-$15,000 per bitcoin, said Wolfie Zhao, head of research at mining consultancy Blocksbridge. Once the halving happens, these costs will double, bringing miners’ breakeven point to $20,000-$30,000. Original
In this week’s newsletter, read about GameStop’s nonfungible token (NFT) platform partnership with game company Illuvium, and check out how NFTs can store digital assets, and how blue-chip NFT collaterals are being used in NFT lending. In other news, Nike’s NFTs are coming to EA Sports games, and don’t forget this week’s Nifty News, featuring upcoming blockchain games from Epic Games. GameStop NFT back in the spotlight after partnership with Illuvium GameStop has partnered with Web3 gaming project Illuvium to launch an NFT collection called Illuvitars. The drop will feature…
The metaverse continues to expand, with industry giants and upcoming players racing to seize a slice of the potentially trillion-dollar pie. Close to $2 billion was invested in blockchain-based metaverse deals in 2022, according to Cointelegraph Research’s VC database. A 2022 report by McKinsey estimated the metaverse industry to potentially generate up to $5 trillion in revenue by 2030, an estimate overtaken by Citi’s forecast of $8 to $13 trillion. These estimations reflect significant growth from the global metaverse market of $65.5 billion recorded in 2022. To realize these optimistic…
The former owner of a National Football League (NFL) team has been sentenced to more than six years in prison for acting as a “shadow bank” and illegally processing more than $700 million worth of transactions for crypto exchanges. Reginald Fowler, who previously co-owned the Minnesota Vikings, established a company called Global Trading Solutions LLC in 2018. Using that company, he worked with Israeli nationals who operated a number of crypto firms, according to a press release from the U.S. Attorney’s Office for the Southern District of New York. The…
Amid an extended crypto winter that has cooled NFT trading, platforms like Blur, Binance and Astaria have introduced new lending options to boost liquidity. While some traders support NFTfi, others say the trend is risky. Source
“When Coinbase has attempted to do just that, to talk about how we could register as a broker-dealer or an [alternative trading system] or even as a [national securities exchange] after months and months of discussion, we’re simply dismissed with no response or any counter proposal or ideas coming back from the SEC,” said Paul Grewal, Coinbase’s chief legal officer. Source BitcoinCoinbasecryptoexchangeExchangesJoinsregisterRobinhoodSECU.SWanted CryptoX Portal
But the messaging surrounding the suits makes the SEC’s recent moves seem reactive, political and frankly, just beneath the bluster, weak. Specifically, the SEC seems to be trying to put Coinbase and Binance into the same bucket as the frauds of 2022, such as Luna, Celsius and above all FTX. The SEC has been widely viewed as giving FTX deferential treatment before it was revealed as a massive fraud, so now it’s demonstrating that it really can be a hard-nosed regulator – it’s just doing so a couple of years…
The United States District Court in Washington, D.C. issued a summons for Binance CEO Changpeng Zhao on June 7, just two days after the Securities and Exchange Commission (SEC) formally sued the exchange for alleged unregistered securities operations. “A lawsuit has been filed against you,” the summons read. NEW: @binance CEO @cz_binance has been order to respond/answer the summons of a U.S. District Court along with the other entities named in the case. He does not have to appear in person but respond within the time frame below https://t.co/UipLm9TRye — Eleanor Terrett…
Recent moves by Saudi Arabia, Russia and China have raised fears that the U.S. dollar could lose its preferred status for oil trading. And yet alternative national currencies aren’t that appealing. Could a Bitcoin-like currency do better? Original
Former Binance.US CEO Catherine Coley, who is transparently known as “BAM CEO A” in the suit against Binance filed by the United States Securities and Exchange Commission (SEC) on June 5, has kept a low profile since her departure. However, she provided testimony to the SEC in 2022 when it was investigating the company for insider trading. That testimony has resurfaced as an exhibit in the SEC’s new case against the cryptocurrency exchange. Coley’s 2022 testimony was apparently quite long as the selections that constitute Exhibit 86 in the June…