Tag: Digital

BRICS Advances Toward Independent Digital Payment Platform, Russian Official Says

The BRICS economic bloc is progressing towards a digital payment platform, Russia’s Federation Council Speaker Valentina Matviyenko has revealed. The initiative, named BRICS Bridge, aims to establish an independent financial system. This system could mitigate dependency on Western institutions, especially amid sanctions and Russia’s SWIFT disconnection. BRICS Moves Forward With Digital Payment Platform Initiative The […] Source CryptoX Portal

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…

Marathon Digital sells 51% of Bitcoin produced in Q2 as net loss soars to $200m

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Bitcoin mining company Marathon Digital has disclosed in its Q2 financial report that it sold over 50% of the BTC it mined during the quarter to fund operating costs. Marathon Digital Holdings, a publicly traded American crypto mining firm, saw its shares drop more than 7% on Thursday, Aug. 1, following the release of its earnings report, which showed revenue falling significantly short of analysts’ expectations. According to the report, the company produced a total of 2,058 Bitcoin (BTC) during Q2, representing a 30% decrease compared to Q2 2023. Marathon…

Bahamas Enacts Digital Assets and Registered Exchanges Act

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The Bahamas has enacted the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024), establishing itself as a leader in digital asset regulation. Announced by the Securities Commission, DARE 2024 builds on the DARE Act, 2020, introducing significant reforms to address the evolving digital asset landscape. Christina Rolle, Executive Director of the Securities Commission, emphasized […] Source

Galaxy Digital (GLXY) Records Loss of $177M in Q2 as Market Retreated

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…

Investor Surveys Highlight Surging Demand for Digital Assets and Crypto Products

There is significant opportunity for TradFi firms to drive meaningful revenue by extending new services to existing clients, as well as crypto native/FinTech firms to offer more institutional-focused capabilities. Those that move quickly will reap the benefits. Of survey respondents, 54% of institutional investors and 64% of retail investors plan to increase allocations, representing a significant upside over current money invested. Institutional investors largely seek a multi-custodian model to manage their digital assets, and beyond custody, want services like connectivity to more liquidity providers, the ability to lend/borrow against their…

Bybit Launches Digital Rupee for Secure INR Payments

The crypto exchange Bybit has introduced a digital rupee (eRupee) as a new payment method for Indian rupee transactions. The launch aims to provide a secure alternative for INR users on its platform. Bybit Aims to Enhance INR Payments With Launch of Digital Rupee Bybit, a digital currency trading platform, announced the introduction of the […] Source CryptoX Portal