Tag: Report

Bitcoin mining hashprice stays flat despite higher difficulty: Report

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The Bitcoin (BTC) mining hashprice — a miner’s daily revenue per unit of hashing power expended to mine blocks — has remained constant at around $48 per petahash per second (PH/s), despite a slight 1.4% uptick in Bitcoin difficulty. Data from CoinWarz shows that the Bitcoin difficulty climbed to 113.76 trillion at block 889,081 on March 23, up from the 112.1 trillion difficulty in the previous epoch. According to TheMinerMag, a hashprice below $50 places financial stress on miners running older hardware such as the Antminer S19 XP and S19…

Pakistan eyes surplus power use for crypto mining: report

Pakistan is developing special electricity tariffs to attract cryptocurrency mining operations as part of a strategy to use the country’s surplus power generation capacity. According to a report by Dawn, the Power Division is consulting with various stakeholders to create attractive electricity rates for these industries without introducing subsidies. The initiative plans to use excess power production while reducing capacity payments. This approach could appeal to cryptocurrency miners, who generally spend 60-70% of their earnings on electricity costs. Pakistan’s current surplus electricity situation offers potential competitive advantages. Power Minister Awais…

Tether seeks Big Four firm for its first full financial audit — Report

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Stablecoin issuer Tether is reportedly engaging with a Big Four accounting firm to audit its assets reserve and verify that its USDT (USDT) stablecoin is backed at a 1:1 ratio. Tether CEO Paolo Ardoino reportedly said the audit process would be more straightforward under pro-crypto US President Donald Trump. It comes after rising industry concerns over a potential FTX-style liquidity crisis for Tether due to its lack of third-party audits. Tether to produce first full audit after scrutiny “If the President of the United States says this is top priority…

Crypto VC giant targets $1B for new funds, expects oversubscription — Report

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Venture capital firm Haun Ventures is reportedly looking to raise $1 billion for two new crypto-related investment funds within the next three months. If successful, $500 million will be allocated to early-stage crypto investments, while the remaining $500 million will go toward late-stage crypto investments, people familiar with the matter told Fortune Crypto on March 21. Different market conditions to 2022 led to lowered expectations The VC firm, founded by former Coinbase board member and federal prosecutor Katie Haun in 2022, reportedly did not aim for the $1.5 billion it…

Coinbase in ‘advanced’ talks to acquire Deribit: report

Coinbase is reportedly in advanced discussions to acquire Deribit, a leading crypto derivatives exchange specializing in Bitcoin and Ether options, according to Bloomberg.  The companies have informed regulators in Dubai— where Deribit is licensed — about the ongoing negotiations, though no final agreement has been confirmed. Deribit is the dominant player in the crypto options market and was valued between $4 billion and $5 billion earlier this year. The platform saw nearly $1.2 trillion in trading volume in 2024, nearly doubling its activity from the previous year.  Coinbase, primarily known…

Nigeria still open to crypto business despite rocky past: Report

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The government of Nigeria is still open to crypto businesses operating in the country despite the ongoing lawsuit against crypto exchange Binance and the high-profile detention of Binance executive Tigran Gambaryan. Nigerian Information Minister Mohammed Idris told Semafor that many crypto businesses operate inside the country that are not facing litigation or criminal prosecution. “This is part of the effort to strengthen our laws, not to cripple anybody. We are ensuring that no one comes and operates without regulation,” Idris told the outlet. Nigeria filed an $81.5 billion lawsuit against…

Coinbase in talks to buy derivatives exchange Deribit: Report

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Coinbase is in advanced talks to buy Deribit, a cryptocurrency derivatives exchange, according to a March 21 report by Bloomberg. Acquiring Deribit — the world’s largest venue for trading Bitcoin (BTC) and Ether (ETH) options — would bolster Coinbase’s existing derivatives platform, which currently focuses on futures.  Coinbase and Deribit have reportedly alerted regulators in Dubai to the deal talks. Deribit holds a license in Dubai, which would need to be transferred to Coinbase if a deal goes through, according to Bloomberg, which cited unnamed sources.  In January, Bloomberg reported…

Swiss Central Bank rejects Bitcoin for reserves, citing volatility: report

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Swiss National Bank Governor Martin Schlegel reaffirmed the central bank’s position against incorporating Bitcoin or other digital assets into its foreign exchange reserves.  Schlegel expressed concerns to Bloomberg regarding Bitcoin’s (BTC) high volatility, instability, and the regulatory challenges associated with cryptocurrencies. These factors were cited as the main reasons for his position.  He highlighted that the Swiss National Bank’s reserves are meant to support monetary policy, and he noted that digital assets do not align with this goal. This position is consistent with Schlegel’s earlier remarks. In a November 2024…

Kraken nears $1.5B deal allowing it to offer US crypto futures: Report

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Crypto exchange Kraken is reportedly closing in on a $1.5 billion acquisition of trading platform NinjaTrader, a move that would expand Kraken’s customer base and enable it to offer crypto futures and derivatives in the US. The deal could be confirmed by the morning of March 20 in the US, The Wall Street Journal said in a March 19 report, citing people familiar with the matter. Kraken’s expanded offerings would be made possible through NinjaTrader’s registration as a Futures Commission Merchant.  The move would help Kraken’s strategy to work across…

Trump to speak at Digital Asset Summit: Report

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United States President Donald Trump will reportedly speak at Blockworks’ Digital Asset Summit in New York on March 20, Blockworks said.  His speech will mark the first time a sitting US president has ever spoken at a cryptocurrency conference, Blockworks said in a March 19 announcement. Trump’s presence at the event underscores his embrace of an industry that, under former US president Joe Biden, was the target of more than 100 enforcement actions by federal regulators. “When we started Blockworks we could barely get someone from a bank to attend…