Day: July 13, 2023

Demand is driving the price of Bitcoin to $130K

In any market, whether it is fruit and vegetables or financial assets, prices are determined by the intersection of supply and demand. If tomatoes are scarce due to a flood, with the same demand, the price in the supermarket will inevitably be higher — just as it will be higher if, with the same supply, twice as many people want to buy tomatoes. In the financial market, if supply is unlimited, the price is not changed by demand, as in the case, for example, of a mutual fund. Related: Don’t…

Ripple Labs Ruling Throws U.S. Crypto-Token Regulation into Disarray – Preston J Byrne

On the second category of sales, programmatic sales, the Court found in Ripple’s favor, arguing that the third, “expectation of profits” prong of Howey was not met. “Ripple’s Programmatic Sales were blind bid/ask transactions,” the Court wrote, “and Programmatic Buyers could not have known if their payments of money went to Ripple, or any other seller of XRP” and as such “a Programmatic Buyer stood in the same shoes as a secondary market purchaser who did not know to whom or what it was paying its money.” Source

Texas Blockchain Council director announces run for State House

Steven Kinard, director of Bitcoin mining analytics at the Texas Blockchain Council, a crypto advocacy group, has announced that he will run for a seat in the Texas House of Representatives. In a July 11 announcement, Kinard said he planned to seek the Republican Party nomination for Texas House District 70 in the Dallas-Fort Worth area, where he would serve a two-year term starting in 2025 if elected. The candidate has worked at the Texas Blockchain Council since March 2022 following roughly three years at BOK Financial. It’s official! #HD70…

UK bill on online safety should apply in the Metaverse, say lawmakers

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Legislation aimed at regulating certain internet services in the United Kingdom should cover activities in the Metaverse, according to members of the House of Lords. In a July 12 session of the U.K. parliament, members of the upper house debated whether the Online Safety Bill would cover “certain harmful content” users could come across in a virtual environment like the Metaverse. Many lawmakers considered how regulations could address “ghastly stuff” — according to Baroness Finlay of Llandaff — children might encounter online. “The metaverse should not be beyond the scope…

Bitcoin price rallies to $31.8K, but derivatives data highlights BTC bears’ advantage

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This July 14 Bitcoin weekly options expiry holds the potential to be a significant turning point for market sentiment, potentially leading to a breach below the crucial $30,000 support level. Despite the initial bullish surge triggered by the spot Bitcoin exchange-traded fund (ETF) requests, the recent macroeconomic data has not been favorable for risk-on assets. Analyzing market sentiment is crucial in assessing the chances of Bitcoin (BTC) holding above $30,000 by July 14. This level acts as a threshold that could provide bears with a perfect opportunity to profit up to $120…

CleanSpark’s Bitcoin mining capacity hits 8 EH/s as new facility goes live

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Bitcoin miner ClearSpark has begun the second phase of operations at its mining campus in Washington, in the U.S. state of Georgia, reaching 8.0 exahashes per second (EH/s), halfway to its year-end target of 16.EH/s.  The second phase saw an investment of nearly $55 million in the site, including construction, infrastructure and machines. The facility, bought in August 2022 for $25.1 million, had 15,000 mining machines with a power capacity of 50 megawatts (MW). According to the company, the capital deployed expands its total power capacity to 86 MW. “Today,…

Celsius Network Moves $64M in LINK, MATIC, AAVE and Altcoins Following Court Permission to Sell Tokens for BTC, ETH

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