Tough market conditions continue to affect the Bitcoin (BTC) ecosystem as mining difficulty drops by its biggest margin since July 2021. A 7.32% difficulty adjustment took place on Dec. 6 at block height 766,080, marking the sharpest drop in difficulty in over a year. This coincided with a drop in average hashrate from 264.18 EH/s…
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A Bitcoin (BTC) advocate on Twitter known by the name of ShireHodl, or simply Shire, sent over 110 micropayments to first-time Bitcoin Lightning users in response to Michael Saylor’s Lightning Network pool. Shire asked those new to Lightning to download a Lightning wallet from App Store or Google Play Store and to send him a QR invoice. To…
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In a recent interview Michael Saylor, the MicroStrategy executive chairman and major Bitcoin (BTC) bull, shared his perspective on the fall of the FTX empire. Saylor said that for years there has been a low-grade “boiling Guerrilla war” between the BTC community opposite the crypto community over industry practices such as, what he repeatedly calls,…
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Bankrupt crypto lender Celsius was granted an extension on its exclusivity period until Feb. 15, 2023. The court approval would give the troubled crypto lender another couple of months to file for a Chapter 11 restructuring plan. The approval to extend the exclusivity period came after two court hearings on Dec. 6. Celsius, in an…
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The Lightning Network has struck Ghana, Kenya and Nigeria. During a conference in Ghana, Strike CEO Jack Mallers announced that the Bitcoin (BTC) payments company has partnered with the mobile app Bitnob to facilitate payments into Africa. Mallers made the announcement on stage at AfroBitcoin, a Bitcoin conference in Ghana’s capital city of Accra. He stood alongside…
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Despite the Conservative Party’s rhetorical embracement of crypto under the new Prime Minister Rishi Sunak, the upcoming regulatory framework will reportedly tighten scrutiny over the industry. The legislation updates will broaden the powers of the financial regulator and probably limit foreign companies’ operations in the United Kingdom. According to a Financial Times report, the FTX…
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Welcome to Law Decoded, your weekly digest of all the major developments in the field of regulation. There was some substantial good news for crypto last week, but the prevailing storyline is still the unfolding of FTX. While the extradition of the failed exchange’s founder Sam Bankman-Fried seemed pretty logical from the beginning of the…
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Bitcoin (BTC) spending an “unprecedented” period below a key moving average is a poor guide to the 2022 bear market. That was the opinion of analyst Superswell, who this week championed on-chain metrics as a way of understanding current BTC price action. “Business as usual so far” for Bitcoin bear market In a series of…
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Silvergate Capital CEO Alan Lane has slammed “short sellers” and “other opportunists” for spreading misinformation over the last few weeks — just to score themselves a quick buck. In a Dec. 5 public letter, Lane said there was “plenty of speculation – and misinformation” being spread by these parties to “capitalize on market uncertainty” caused…
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Joseph Longo, the chairman of the Australian Securities and Investments Commission (ASIC) is calling for a regulatory loophole to be closed that allowed FTX to acquire an Australian Financial Services License (AFSL) in the country without the full suite of checks. According to a Dec. 5 report from the Australian Financial Review, Longo made the…
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