Month: August 2024

How Donald Trump’s Plan for U.S. Bitcoin Dominance Could Trigger a New Digital Gold Rush

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Beyond energy considerations, Bitcoin mining is emerging as a powerful force for economic revitalization of rural areas hit hard by globalization and the offshoring of American industry. According to our research team, in 2023, U.S. Bitcoin mining operations generated $2 billion in revenue, a figure that represents 3% of the American iron and steel industry’s output. This comparison underscores the growing economic significance of this nascent sector. In just five years, the industry has created substantial employment opportunities. According to our internal estimates, direct employment in U.S. Bitcoin mining has…

UK’s New Tech Policy Could Catalyze Economic Growth Through Blockchain

Caroline Bishop Aug 02, 2024 14:51 The UK stands at a critical juncture to boost economic growth by fostering new tech policies, particularly in blockchain, according to a16z crypto. The UK stands at a pivotal moment, as highlighted in the recent King’s Speech to Parliament, which called for the country to ‘pursue sustainable growth by encouraging investment in industry, skills, and new technologies,’ according to a16z crypto. Potential of Blockchain Technology The new Labour government has a significant opportunity to achieve this…

CleanSpark finalizes Bitcoin site acquisition despite concerns

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Bitcoin miner CleanSpark reported securing 75 MW in Wyoming despite previous national security concerns. American Bitcoin mining firm CleanSpark Inc. announced the successful acquisition of a Bitcoin mining site in Wyoming, overcoming previous national security concerns raised by the White House. The company said in a July operational report published on Aug. 2 that it had secured power agreements totaling 75 MW in the state and commenced hashing operations in Tennessee, adding 1 EH/s to its hashrate in July. CleanSpark chief executive Zach Bradford highlighted the progress made, adding that…

Morgan Stanley wealth advisors can pitch bitcoin ETFs

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Morgan Stanley on Friday told its army of financial advisors that it will soon allow them to offer bitcoin ETFs to some clients, a first among major Wall Street banks, CNBC has learned. The firm’s 15,000 or so financial advisors can solicit eligible clients to purchase shares of two exchange-traded bitcoin funds starting Wednesday, according to people with knowledge of the policy. Those funds are BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, the people said. The move from Morgan Stanley, one of the world’s largest wealth management…

Arkham CEO Miguel Morel to Speak at Istanbul Blockchain Week

Iris Coleman Aug 02, 2024 14:02 Arkham CEO Miguel Morel is set to speak at Istanbul Blockchain Week, featuring in a keynote, panel, and workshop. Arkham Intelligence’s Founder and CEO, Miguel Morel, is scheduled to speak at Istanbul Blockchain Week (IBW) 2024, according to Arkham Intelligence. Morel will be participating in a keynote address, a panel discussion, and a workshop. Keynote and Panel Discussions Morel’s keynote is expected to cover the latest trends and innovations in blockchain technology, offering insights from his…

PEPE Bullish Trend Line Under Threat: $0.00000766 Level On Sight?

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PEPE, one of the top meme coins in the crypto space, is currently at a crucial point as it approaches its long-standing bullish trend line. As the price draws near the bullish trend line, a break below it could signal a major shift in market sentiment, triggering a price draw down to the $0.00000766 mark. This article provides an in-depth analysis of the current price action, focusing on the bullish trend line. It examines whether a potential break below this line could drive the price to the critical support level…

Bitcoin Price (BTC) Rises 2.1%, Boosting CoinDesk 20 Index

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

What is Choke Point 2.0?

Joe Biden administration’s ongoing efforts to deny cryptocurrency companies access to banking services have become known as Choke Point 2.0. Operation Choke Point Background Introduced by former president Barack Obama’s administration in 2013, Operation Choke Point was intended to combat fraud and illegal activity by denying criminals access to the banking system. By forcing financial institutions to cut ties with high-risk businesses, regulators hoped to “choke off” how illicit actors could continue to fund their operations. Despite the good intentions, there were concerns in the community that legitimate businesses were…

Bitcoin price spared from Intel and Nvidia stocks meltdown

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Bitcoin price held steady above $64,000 on Friday, even as technology stocks like Intel and Nvidia slumped.  Bitcoin (BTC) was trading at $64,700, up by 4% above its lowest point this week and 8% below its highest level on Monday despite a very red day on Wall Street on Thursday. Semiconductor companies were among the worst performers. Intel stock dropped by over 22%, reaching its lowest point since 2015. It has dropped by over 65% from its highest point since April 2022. The sell-off happened after the company published weak…