Day: June 11, 2023

Russia’s biggest bank, Sberbank, to allow trading of digital assets in June

From June, Sberbank, the biggest bank in Russia, will allow accredited private investors to trade using digital financial assets (DFA). Sberbank to allow trading of DFAs in Russia According to local reports, Sberbank will allow clients to transact using DFA on its platform. However, it should be noted that this offering was slated for the end of Q1 2023 before being postponed to this month. Through this service, Anatoly Popov, the Deputy Chairman of the Board of the Bank, said users would be free to trade using DFA, even exchanging them…

Coinbase CEO seeks regulatory clarity, expects ‘right outcome’ for crypto industry

Coinbase CEO Brian Armstrong believes crypto entrepreneurs will return to the United States once the government establishes the “right outcome” for cryptocurrency regulations. In a recent interview, Armstrong emphasized that regulating crypto is simple and expressed confidence that the United States will achieve regulatory clarity, even if it takes time. Armstrong’s comments come amid a clash with regulators, with differing opinions about his approach. Some see his stance as bold and potentially transformative. On the other hand, others view it as reckless posturing by a Silicon Valley crypto enthusiast who may be inviting…

What is Robinhood, and how does it work

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Robinhood’s innovative trading model has opened new opportunities for beginner investors and traders. Here’s what it is and how it works. Robinhood Connect Since 2021, Robinhood has improved its cryptocurrency offering and launched the opportunity to invest in the industry’s latest innovations. The new approach introduces Robinhood customers to the world of Web3 to keep up with the financial market trends of decentralized finance (DeFi). In April 2023, the trading app launched “Robinhood Connect,” a fiat-to-crypto on-ramp featuring support for decentralized applications (DApps) and self-custody wallets.  The service allows users…

Solo bitcoin miner beats odds to mine BTC despite record high difficulty

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On June 9, at block height 793,607, a solo bitcoin (BTC) miner successfully mined a block through a mining service provider, solo.ckpool.  Solo bitcoin miner wins  The feat meant that the bitcoin miner received the 6.25 BTC block reward and overcame the high odds against him. At current conditions–and the hash rate at over 390 EH/s as of June 11, it is extremely rare for a solo miner with relatively low hash rate to mine a Bitcoin block.…

US senator revamps efforts for crypto regulations amid SEC lawsuits

With the rapid evolution and increasing adoption of cryptocurrencies, the need for regulatory clarity has become paramount. U.S. Senator Cynthia Lummis has said that her efforts to push for a positive regulatory framework are still in motion.  Senator Lummis garnered praise from the crypto community on Twitter as she shared her commitment to developing a regulatory framework that would facilitate digital asset ownership and trading within the United States. Her tweet serves as a reminder of the anticipated bill that was supposed to be released in April. In collaboration with…

U.S. Senator Lummis revamps efforts for crypto regulations amid SEC lawsuits

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With the rapid evolution and increasing adoption of cryptocurrencies, the need for regulatory clarity has become paramount. U.S. Senator Cynthia Lummis has said that her efforts to push for a positive regulatory framework are still in motion.  Senator Lummis garnered praise from the crypto community on Twitter as she shared her commitment to developing a regulatory framework that would facilitate digital asset ownership and trading within the United States. Her tweet serves as a reminder of the anticipated bill that was supposed to be released in April. In collaboration with…

Hut 8 Mining mined 147 BTC in May, Bitcoin hash rate slumping

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In May 2023, Hut 8 Mining, a crypto miner based in Toronto, Canada, and one of North America’s largest publicly traded mining firms, mined 147 bitcoin (BTC). This news comes when the Bitcoin hash rate is falling. Hut 8 Mining mined 147 bitcoin in May In a recent report, the crypto miner and Bitcoin infrastructure provider said the 147 BTC mined translated to around 4.7 BTC mined every day.  While they received 147 BTC as block rewards and…

Hong Kong legislator invites Coinbase to the region amid SEC scrutiny

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With its progressive stance on cryptocurrencies, Hong Kong’s legislator invites Coinbase and other crypto exchanges to establish operations in the region, fostering a favorable environment for the industry’s growth. Legislative Council member Johnny Ng took to Twitter, expressing support and offering assistance to crypto trading operators like Coinbase. He also hinted at potential stock listing opportunities. This comes in the wake of the recent SEC lawsuits against major players like Binance and Coinbase. Contrary to the cautious stance adopted by several Western countries towards cryptocurrencies, Hong Kong has embraced a…

The US will find the ‘right outcome’ for crypto, eventually – Coinbase CEO

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Brian Armstrong, the CEO of cryptocurrency exchange Coinbase, emphasized that regulating crypto isn’t “rocket science” and is confident that the United States will achieve regulatory clarity, “even if it takes a while.”  Armstrong sat down for an interview with Wall Street Journal on June 11, just days after the SEC filed a lawsuit against Coinbase on June 6. The SEC alleged that Coinbase has been operating a securities exchange, broker-dealership and clearing house without registering with the commission. Full WSJ interview on YouTubehttps://t.co/yIF3dGI7oN — Brian Armstrong ️ (@brian_armstrong) June 10,…

FTX authorized to ‘permanently redact’ customer names from all bankruptcy filings

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Bankrupt cryptocurrency exchange FTX has been granted permission to remove individual customers from all court filings in its bankruptcy case. Meanwhile, the names of companies and institutional investors will be sealed for another 90 days. In recent times, mainstream media outlets have pushed for access to the list of FTX customers, arguing that the press and public have a “presumptive right of access to bankruptcy filings.” However, FTX has consistently objected to these requests, arguing that disclosing the names could potentially undermine the sale value of the crypto exchange if…