A hydro-powered crypto mining project based in Africa released an update on its efforts to bring energy developments to rural communities via Bitcoin (BTC). On Dec. 9, Gridless Compute tweeted photos and commentary on how their hydro-power BTC mining rigs are powering an entire rural settlement while also lowering energy rates for 2,000 people, the…
Read more
Cryptocurrencies have not been around for very long. Hence, there is not much data yet on whether cryptocurrency is a good investment during stagflation and if stagflation is generally good or bad for the markets. To grasp if cryptocurrency investments work well during stagflation, one can examine how traditional markets behave during inflation or stagflation…
Read more
The United Kingdom’s Chancellor of the Exchequer Jeremy Hunt laid out a number of reforms aiming to “drive growth and competitiveness” to the country’s financial services sector including efforts that support the crypto space. In an announcement, the U.K. government highlighted that it will create a smarter regulatory framework for the country that it describes…
Read more
United States-based cryptocurrency exchange Coinbase has asked its customers to convert their Tether-issued USDT (USDT) stablecoin to USD Coin (USDC), a USD-pegged stablecoin issued by Circle and co-founded by Coinbase in 2018. The cryptocurrency exchange suggested that USDC is a much more secure alternative in the wake of the FTX collapse saga and has also exempted…
Read more
The Japanese subsidiary of the now-defunct cryptocurrency exchange FTX has received approval from local regulators to continue sorting out issues with withdrawals until next year. The Kanto Local Finance Bureau, a local financial regulator, running under the Ministry of Finance of Japan, has issued a statement regarding FTX Japan operations, Reuters reported. The Japanese authority…
Read more
Bitcoin (BTC) stayed higher after a $17,000 liquidity grab on Dec. 9 as traders targeted further upside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin attempts new monthly high Data from Cointelegraph Markets Pro and TradingView showed BTC/USD cooling volatility once more after hitting $17,300 on Bitstamp. The pair had begun by taking liquidity at…
Read more
The number of lawsuits against former FTX CEO Sam Bankman-Fried has been racking up since the fall of his crypto empire, with the former “white knight” of crypto finding himself a defendant in seven class action lawsuits filed since FTX’s bankruptcy. These lawsuits are separate from the numerous probes and investigations examining FTX and Sam…
Read more
A United States banking industry regulator warned banks of the “emerging risks” of cryptocurrencies saying the sector should take a “cautious approach” and seek permission in some cases when engaging with crypto or crypto firms. Citing “dislocations” in the crypto market over 2022 the Office of the Comptroller of the Currency (OCC) highlighted what it…
Read more
Crypto’s public enemy number one, Sam Bankman-Fried has missed a crucial deadline to confirm his appearance at an upcoming Senate Committee hearing. The former FTX CEO missed a Thursday 5pm ET on Dec. 8, deadline for responding to a Senate Banking Committee request that he testify at the Committee meeting on Dec. 14. This has…
Read more
A watchdog group has demanded an investigation into Sam Bankman-Fried’s political donations, claiming the former FTX CEO admitted to donating tens of millions of dollars to Republicans under the table, in violation of federal law. The Citizens for Responsibility and Ethics in Washington (CREW) filed the complaint with the Federal Election Commission (FEC) on Dec.…
Read more