The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major factors for the trend. Miners Prepare for Growth as Total
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The last two mining difficulty changes on the Bitcoin network have driven difficulty to an all-time high, causing a decrease in hashrate and block interval speed. Before the latest difficulty retarget increase of 4.68%, block intervals were faster than the 10-minute average, at approximately 8 minutes 54 seconds to 9 minutes 31 seconds. However, since
During the past two weeks, members of the cryptocurrency community have discussed the non-fungible token (NFT) concept known as Ordinals. Since the 3.96 MB block (#774,628) was mined, there has been a significant increase in Ordinal inscriptions on the Bitcoin blockchain. Ordinal Inscriptions on Bitcoin Blockchain Spark Debate Among Crypto Community The controversial NFT concept
As the artificial intelligence (AI) wars intensify, the AI firm Anthropic has raised $300 million from Google and sources say that the tech giant will get roughly a 10% stake in the AI company. Interestingly, in April 2022, Anthropic raised approximately $500 million from sources including Sam Bankman-Fried (SBF), co-founder of FTX; Caroline Ellison, former
Shiba inu extended recent gains into the weekend, as the meme coin rose to its highest point in four months. Today’s surge saw prices climb by as much as 13%, and comes despite cryptocurrency markets mostly consolidating. Dogecoin also moved higher, breaking out of a recent ceiling in the process. Shiba inu (SHIB) Shiba inu
Bitcoin (BTC) circled $23,500 on Feb. 4 as bulls refused to give up support in out-of-hours trading. Bitcoin price conjures 2020 memories Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding a narrow range in place since the Feb. 3 Wall Street open. Macroeconomic data releases from the United States provided modest volatility but
2022 was tough for the crypto market. A recent report published by security services platform Immunefi found that the crypto industry lost a total of $3.9 billion in 2022. Detrimental losses such as these are often concerning for crypto investors, yet there may be a silver lining behind decreasing assets for investors reporting crypto on
Ethereum continued to trade close to a key resistance level of $1,700 on Saturday, following Friday’s U.S. non-farm payrolls (NFP) report. Yesterday’s report showed that 517,000 jobs were added to the U.S. economy in January, better than the 185,000 many were expecting. Bitcoin mostly consolidated however, as traders moved to take recent profits. Bitcoin Bitcoin
Egyptian fintech MNT-Halan announced on Feb. 1 that it had raised over $340 million via debt and equity and it expects to raise an additional $60 million from leading international investors. The latest funding round sees MNT-Halan’s valuation rise to over $1 billion which reportedly makes it the country’s “only private billion-dollar company.” ‘Egypt’s Greatest
Financial authorities in Kazakhstan are starting a public consultation on draft changes to the country’s framework for digital-asset trading. The proposals include measures to reduce risks in the crypto market and improvements to the structure of exchange platforms. Kazakhstan’s Financial Hub Seeks to Amend Its Concept for Trading Digital Assets The Astana Financial Services Authority,
On a recent visit to Sri Lanka, American billionaire Tim Draper pitched the idea of adopting Bitcoin (BTC) as a legal tender to fight against the corruption that contributed to hyperinflation in the island country. However, a key Sri Lankan authority — central bank Governor Nandalal Weerasinghe — believed doing so would worsen the country’s
Samsung, the Korean electronics company, has revealed it is working to build its own metaverse and extended reality devices, hinting at the possibility of the launch of a VR headset in the near future. TM Roh, head of Samsung mobile experiences business, stated that the device will be built in partnership with Google and Qualcomm.
Meta, the company that owns Facebook, Instagram, and Whatsapp, has shared its fourth quarter results, reporting better numbers than expected. While the company beat revenue estimates, CEO Mark Zuckerberg declared 2023 a “Year of Efficiency,” hinting at a further restructuration of the company to focus on its AI (artificial intelligence) and metaverse projects in the
Binance has announced that Indian crypto exchange Wazirx can no longer use Binance wallet services. Zanmai, the operator of Wazirx, has until Feb. 3 “to remove the funds from the accounts that they used for Wazirx’s operations.” The move followed a public dispute regarding the relationship between Binance and Wazirx. Binance Ends Wallet Services to
Blockchain analytics firm Chainalysis says 2022 was “the biggest year ever for crypto hacking,” with $3.8 billion stolen from cryptocurrency businesses. The firm added that decentralized finance (defi) protocol hacks accounted for 82.1% of all cryptocurrency stolen by hackers during the year. Crypto Hacking Hit Record High in 2022 Blockchain analytics firm Chainalysis published a
Several crypto firms have made job cuts this week amid the ongoing crypto winter, retaining “impactful” employees as they prepare for a “longer downturn.” At least 216 jobs were slashed between three crypto firms – open-source software laboratory Protocol Labs, blockchain data firm Chainalysis and U.S. cryptocurrency exchange Bittrex, with reductions of 89, 83 and
Binance has returned to the South Korean cryptocurrency market after two years with a “meaningful” investment in a local, licensed crypto exchange. Gopax fell into trouble following the collapse of crypto exchange FTX and the bankruptcy filing of crypto lender Genesis Global. Binance Invests in Troubled Korean Crypto Exchange Cryptocurrency exchange Binance announced Friday that
While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the licensing regime and the introduction of fees for crypto companies. Crypto Exchange in Uzbekistan Pays Over $10,000 a Month to the State Coffer
Following finder.com’s reports on bitcoin and ethereum predictions, the product comparison site polled 56 specialists in the fintech and cryptocurrency industry to gauge their thoughts on future regulation of crypto exchanges. The experts predict that virtual currency trading platforms will be regulated, but not until 2025 or 2030. When regulation does occur, 76% of Finder’s
A recent report details that Russia’s largest financial institution, Sberbank, plans to launch a decentralized finance (defi) platform in May. Konstantin Klimenko, product director of Sberbank’s blockchain laboratory, said that open testing will begin in March. Sberbank’s Defi Platform to Enable Large-Scale Commercial Operations According to a report published by the news outlet Interfax, state-owned