Tag: Digital

U.S. policymakers introduce bill targeting China’s digital yuan

Senator Rick Scott introduced a prohibition act seeking to bar U.S. financial service operators from interacting with China’s central bank digital currency (CBDC). The so-called Chinese CBDC Prohibition Act would ban U.S. post offices, remittance firms, peer-to-peer crowdfunding platforming and all money services businesses from facilitating any transaction that involves China’s digital yuan. Senators Marsha Blackburn of Tennessee and Ted Cruz of Texas backed the act with their support, stressing that this legislation was crucial to keeping American financial data safe. We should do everything in our power to ensure…

Bitcoin miner Marathon Digital posts 670% surge in Q3 revenue

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Bitcoin miner Marathon Digital Holdings has reported a substantial increase in revenue, marking a 670% rise year-on-year in the third quarter of 2023. This remarkable growth is attributed to a significant uptick in Bitcoin (BTC) production, which increased from 6.7 mined BTC per day in Q3 2022 to an impressive 37.9 BTC per day in Q3 2023. Marathon’s Q3 Earnings Release is here:– Revenue of $97.8M, due to 467% increase in #Bitcoin production and higher BTC prices.– Adjusted EBITDA improves to $43.7M.– 8% increase in hash rate; expanding with hydro-powered…

India’s Central Bureau of Investigation (CBI) Appoints Liminal to Manage Seized Digital Assets

“We consider our partnership with the CBI as a testament to our unwavering dedication to building a safe and regulated digital asset ecosystem in India,” said Manan Vora, Senior Vice President of Strategy and Business Operations at Liminal. “As experts in the field, we feel it’s our responsibility to assist law enforcement agencies with rigorous security protocols.” Source

Marathon Digital sees 670% revenue gain in Q3 as Bitcoin production surges

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Bitcoin mining firm Marathon Digital Holdings saw its revenue surge $670% year-on-year in the third quarter of 2023, amid a nearly five-fold increase in Bitcoin production. The results saw Marathon also swing to a quarterly profit, with $64.1 million of net income in the third quarter, according to the firm’s Nov. 8 results filing. The firm partly attributed the improved financial results to a 467% spike in Bitcoin (BTC) production from 6.7 mined BTC per day in Q3 2022 to 37.9 BTC per day in Q3 2023. Similarly, Marathon’s energized…

Bitcoin Miner Marathon Digital (MARA) Beats Q3 Earnings Estimates, but Misses Revenue

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US CFPB proposes supervising digital app providers, including crypto wallets

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The United States Consumer Financial Protection Bureau (CFPB) has proposed a rule to allow it to supervise large non-bank digital wallet and app providers. The rule is part of a larger move by the agency that has seen it extend its supervision to consumer reporting, consumer debt collection, student loan servicing, international money transfers and automobile financing. The rule would extend the supervisory role it already has in depository institutions such as banks and credit unions. The rule would apply to companies that handle more than 5 million transactions per…

Digital Assets That Currently Outperform the Market

Although the recent rally is felt across the asset class, with 156 of the 189 assets in the CoinDesk Market Index returning positively over the past month, some kinds of assets have outperformed others. The Computing Index, which contains protocols dedicated to decentralizing data sharing, storage, and transmission, stands out. This can be partially attributed to the outsized return of oracle networks, including ChainLink (up 47% month-on-month), Band Protocol (up 21% month-on-month), and Tellor (up more than 2x month-on-month). The surge in oracle platforms coincides with growing enthusiasm surrounding the…

Coinbase.com (COIN) Blocked in Kazakhstan for Breaking New Digital Assets Law: Report

“The Information Committee of the Ministry of Culture and Information received a request from the Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan with a request to block the Internet resource www.coinbase.com, which violates paragraph 5 of Article 11 of the Law of the Republic of Kazakhstan ‘On Digital Assets in the Republic of Kazakhstan,’” the ministry told the outlet. Source

London Stock Exchange Group seeks digital assets director amid regulatory shifts

The London Stock Exchange Group is expanding its fintech horizons by recruiting a director for digital assets, navigating the complex interplay between innovation in blockchain technology and the UK’s tightening financial regulations. The London Stock Exchange Group (LSEG) has sparked interest in the financial technology sector with its latest job listing for a director of digital assets. The position indicates LSEG’s commitment to integrating digital assets, cryptocurrencies, and distributed ledger technology into its operational fabric. The role, as advertised, entails developing and executing a commercial strategy for new infrastructure solutions,…