Day: August 30, 2023

Bitcoin OGs and experts weigh in – Cointelegraph Magazine

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Crypto is a volatile place. Money can be as easily lost as made through the ups and downs of Bitcoin and the wider market, and there are massive decisions to make. Should you just hodl — invest and do nothing — or actively trade the market? How many coins should your portfolio hold? Self-custody or keep your funds on an exchange with pre-determined stop losses? Basically, how do you protect your stack from the million and one things that can go wrong? We asked Bitcoin OGs and experts in the…

Coinbase stock surges after favorable federal ruling for Grayscale

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Coinbase’s stock experienced a significant surge on Aug. 29 after reports emerged that a federal judge had ruled in favor of Grayscale in its legal dispute with the United States Securities and Exchange Commission. In the final moments of the trading session on Aug. 29, the value of COIN stood at $85.13 per share, marking an increase of over 15% over the previous day’s close. Coinbase, the largest cryptocurrency exchange in the U.S., has been publicly listed on the Nasdaq since 2021. On Aug. 29, a federal court ruled that…

How blockchain tech and dMRV can help carbon trading markets

There is a global consensus that greenhouse gas (GHG) emissions are warming the planet, but efforts to accurately measure, report and verify these emissions continue to challenge researchers, nonprofits, corporations and governments.  This is especially the case with “nature-based” projects to reduce carbon dioxide levels, like planting trees or restoring mangrove forests. This has inhibited the development of a voluntary carbon market (VCM) on which carbon offset credits are traded. These “offsets” are sometimes viewed as licenses to pollute, but VCMs overall are thought to be beneficial to the planet…

Peter Schiff calls Grayscale’s legal win bearish for Bitcoin

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot Bitcoin ETF could be bearish for the cryptocurrency. Schiff wrote in an Aug. 29 tweet, “GBTC becoming a spot ETF is actually bearish for Bitcoin.” He explained that traders can buy GBTC now and sell or short BTC. He added that once GBTC becomes an ETF, the discount to net asset value goes away. $GBTC becoming a spot ETF…

Bitcoin Insider Trading Suspicions Take Root Following Grayscale Win, What’s Happening?

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Crypto asset manager Grayscale recently won against the Securities and Exchange Commission (SEC) in court, propelling gains in the price of Bitcoin in the past 24 hours. According to the case details, a US appeals court ruled on Tuesday, August 292r, that the SEC was wrong to reject an application from Grayscale to convert the Grayscale Bitcoin Trust into a spot Bitcoin ETF. In the hours following the decision, Bitcoin jumped from $26,500 to test the $28,000 resistance zone. On-chain data has shown that the amount of BTC available for…

Bitcoin (BTC) Rallies on Grayscale Court Win Over SEC

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Bitcoin (BTC) gained nearly 8%, topping $28,000 at one point on Tuesday afternoon after a federal appeals court ruled that the SEC must review its rejection of Grayscale Investments’ attempt to convert its GBTC into an ETF. As has been typical with such rallies for many months, the crypto quickly gave back a chunk of those gains, with bitcoin trading just under $27,400 at press time, still up more than 5% over the past 24 hours. GBTC also saw its busiest trading session in 14 months, with nearly 20 million…

Animoca subsidiary builds AI and NFT tools for educators

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TinyTap, an ed-tech subsidiary of Web3 developer Animoca Brands, announced on Aug. 30 the integration of new artificial intelligence (AI) and nonfungible token (NFT) tools aimed at educators and parents.  The integration of AI will now allow educators, and anyone using the platform, to create an educational game via a topical prompt which will then generate the game within minutes. It also introduced a text-to-image tool allowing for the creation of dynamic educational images to enhance games and graphics. A text prompt being entered into the TinyTap AI game generator.…

Iris Energy diversifies into AI with $10m Nvidia GPU purchase 

Iris Energy invests $10 million in 248 Nvidia H100 GPUs to expand into generative AI alongside its existing focus on Bitcoin (BTC) mining. The company expects the 248 GPUs to be delivered in the coming months and aims to utilize them in cloud computing opportunities. Daniel Roberts, co-founder and co-CEO of Iris Energy, stated that the company aims to use its existing data centers to meet the burgeoning demand for generative AI computing. “We believe demand for sustainable computing is unlikely to go away, and feel we are uniquely positioned…

BlockFi asks court for permission to convert trade-only assets into stablecoins

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Defunct crypto lending firm BlockFi applied to the court a request to transfer the trade-only assets from its users’ accounts into stablecoins, so they could be withdrawn by the individuals. The request marks another step toward the return of users’ funds, a process that the company began in August.  On Aug 29, BlockFi filed an application to the United States Bankruptcy Court for the District of New Jersey, to authorize the conversion of so-called “trade-only” assets into stablecoins. The assets in question — Algorand, Bitcoin Cash and Dogecoin — cannot…