Browsing Category
Bitcoin
Blackrock Meets With SEC 4 Times to Discuss Spot Bitcoin ETF Application
Blackrock, the world’s largest asset manager, has met with the U.S. Securities and Exchange Commission (SEC) for the fourth time recently to discuss its spot bitcoin exchange-traded fund (ETF) application. SEC Chairman Gary Gensler…
Safemoon Files for Chapter 7 Bankruptcy Protection Amid Securities and Wire Fraud Charges
In the latest development, Safemoon, a crypto company, voluntarily initiated Chapter 7 bankruptcy proceedings in the District of Utah, as stated in their bankruptcy documentation. This action comes on the heels of the company’s…
Crypto App Shakepay Reveals Data Breach Affecting a ‘Small Number’ of Customers
In a recent announcement, Shakepay, the Canadian crypto app, disclosed a data breach involving unauthorized access to personal information of a select group of its customers. The breach, detected on Dec. 13, 2023, compromised data but did…
Bitcoin Transaction Fees Soar to $40, Sparking Debate and Push for L2 Solutions Amid Mempool Backlog
On Saturday, Dec. 16, 2023, Bitcoin’s transaction fees spike to a high of $40 per transaction at 1:48 p.m. Eastern Time. The jump in onchain fees surpassed the high reached on May 8, 2023, when the average transfer cost topped $31…
Echoes of 2013: Bitcoin Mining Concentration Reaches Decade-High Levels
In the past 72 hours, Antpool has dominated 26.48% of Bitcoin’s overall hashrate, closely followed by Foundry USA at 24.95%. Together, these two mining pools wield 51.43% of the prevailing 502 exahash per second (EH/s) total…
Bank Of China Completes First Cross-Border Digital Yuan Commodities Trade
The Bank of China Hong Kong, the second largest bank in the region, has completed its first cross-border digital yuan-based trade. The transaction, finalized with its sibling bank, the Bank of China, served to receive the payment for an…
Australian Bitcoin Miner Iris Energy Set to Acquire 8,380 New-Generation T21 Miners
Bitcoin mining company Iris Energy Limited said on Dec. 15 that it expects to take delivery of 8,380 new-generation T21 miners from Bitmain. Delivery of the mining machines is expected to help Iris Energy fulfill its goal of increasing its…
Government of Russia Eyes Commodity-Like Crypto Exports
The government of Russia might allow crypto miners to sell their cryptocurrency like other exports such as gas. Ivan Chebeskov, deputy minister of finance, specified that this option was part of a bill to legalize cryptocurrency mining…
IMF Chief Calls for Clear Crypto Regulation — Warns High Crypto Adoption Could Undermine Financial…
The head of the International Monetary Fund (IMF) has called for clear crypto regulations worldwide, cautioning that high crypto adoption could undermine macro-financial stability. “Our goal is to make a more efficient, interoperable,…
Finance Professor Blasts SEC’s Potential Cash-Only Rule for Spot Bitcoin ETFs Citing Benefits of…
A finance professor at Georgetown University has urged the U.S. Securities and Exchange Commission (SEC) to avoid micromanaging the creation/redemption process for spot bitcoin exchange-traded funds (ETFs). While the SEC proposed the cash…