Cryptocurrency

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Binance Names Three Nigerian Reality TV Show Celebrities as African Ambassadors

Binance has named three former housemates from the popular Nigerian reality television show “Big Brother Naija” as the cryptocurrency exchange’s brand ambassadors for the African continent. Bringing Crypto to the Mainstream Leading cryptocurrency exchange Binance has said as part of its plan to increase its foothold on the African continent, it has partnered with three […]

FBI Seizes Bitcoin Worth More Than $2.2 Million From Ransomware Affiliate

FBI Seizes Bitcoin Worth More Than $2.2 Million From a Ransomware AffiliateThe Federal Bureau of Investigation (FBI) has seized bitcoin worth more than $2.2 million tied to ransomware payments. The cryptocurrency allegedly belongs to an affiliate of Gandcrab and Revil/Sodinokibi ransomware. US Seizes Bitcoin Worth Over $2 Million The Federal Bureau of Investigation (FBI) has seized almost 40 bitcoins from a Russian resident tied to Revil […]

British Security Think Tank’s Report Warns NFTs Could Bolster Money Laundering Schemes

British Security Think Tank's Report Warns NFTs Could Bolster Money Laundering SchemesThe Royal United Services Institute (RUSI), the British defense and security think tank, questions whether or not non-fungible token (NFT) assets can be used for money laundering purposes. The report determines that in order to mitigate the money laundering risks a ‘know your customer’ monitoring system “needs to be implemented.” RUSI: ‘NFT Technology Can Raise […]

South Korea Postpones Crypto Tax, Looking For Votes?

South Korean National Assembly Strategy and Finance Committee approved an amendment to delay to 2023 the taxation that imposes an annual 20% capital gains tax for crypto trading with over 2.5 million Won (US$2,125) in earnings, just after the same taxation had been rushed to happen in 2022 as the lawmakers said postponing it would […]

Elizabeth Warren Queries Bitcoin Mining Operation, US Senator Says Crypto Miners Raise Environmental Concerns

Elizabeth Warren Queries Bitcoin Mining Operation, US Senator Says Crypto Miners Raise Environmental ConcernsSenator Elizabeth Warren has written a letter to the CEO of the New York bitcoin mining firm Greenidge Generation, Jeff Kirt, asking for details on the company’s emissions. Warren’s letter insists “Greenidge and other [bitcoin mining] plants raise concerns about their impacts on the global environment.” Elizabeth Warren Takes Aim at Bitcoin Mining Operations The […]

$50,000 In Dogecoin And A Tesla Up For Grabs In Binance Giveaway

Binance recently announced that it had opened up Dogecoin withdrawals after it had limited the capability due to an issue with Doge’s latest update. The reinstatement had been a big relief for users who had been unable to withdraw their Dogecoin on the platform. Following this, Binance CEO Changpeng Zhao announced a giveaway for the […]

Calls For Tesla To Resume Bitcoin Payments As Mining Reaches 57% Renewable Energy

Bitcoin mining energy consumption has been one of the most addressed issues in the crypto space. Concerns over its energy consumption and environmental impact had been reasons cited during the China crackdown that saw miners exit out of the region en masse. The once bitcoin mining capital of the world had seen its hashrate crumble to zero following this move. Automotive manufacturer Tesla had also cited the same reasons when it had removed BTC payments option for its electric vehicles after implementing barely two months earlier. According to CEO Elon Musk, the EV manufacturer planned on implementing BTC payments again but the catch was that bitcoin mining would have to reach at least 50% clean energy. Related Reading | Croatia’s Largest Supermarket Chain Rolls Out Bitcoin Payments Bitcoin Mining Crosses 57% Renewable Energy The Bitcoin Mining Council which had been formed in June has been dedicated to tracking and reporting mining activities in the space. One of those has been the renewable energy usage in mining. The council which is made up of a network of bitcoin miners first reported in Q2 of 2021 that bitcoin mining activities had surpassed 50% renewable energy. In October, the council had once again released a report addressing the energy consumption of mining activities. The Bitcoin Mining Council reported that renewable energy usage had gone up in Q3, touching at 57.7% renewable energy. These numbers have evidently surpassed the threshold that Tesla CEO Elon Musk had set back in June as a prerequisite for resuming BTC payments. This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market. When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions. — Elon Musk (@elonmusk) June 13, 2021 BTC crashes to $55K | Source: BTCUSD on TradingView.com Calls For Tesla To Resume BTC Payments Taking to Twitter, BTC supporters had called on Elon Musk to review his statement regarding BTC transactions for Tesla vehicles. Data from the Bitcoin Mining Council’s report had been quoted by others to show that mining activities are now being powered by more than 50% clean energy. Confirmed. Your move @ElonMusk 🤔 pic.twitter.com/1c0TtKg1Ow — Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) December 1, 2021 Others, however, have questioned the credibility of the numbers provided by the council. Pointing out information from the press release that said 33% of the global bitcoin network had taken part in the survey. Another user said that there was no way to get reliable data using paper surveys. Rather energy audits would need to be carried out to determine what percentage of energy is clean energy. Related Reading | SEC Boss Acknowledges That Bitcoin Is A Competitor For U.S. Banking System There is no doubt that Tesla resuming BTC transactions would be positive for the market. The first time the automotive manufacturer had implemented crypto payments had sent the price of BTC surging. Elon Musk – or Tesla, is yet to address the issue of reinstating BTC payments despite the two reports from the Bitcoin Mining Council showing that mining has now crossed 50% clean energy. Featured image from Ledger Insights, chart from TradingView.com

Security Focused DeFi Project EverRise Now Live on 3 Blockchains, Staking Introduced

Originally launched on June 15th, 2021, EverRise is a blockchain technology company that offers bridging and security solutions across multiple chains through an ecosystem of decentralized applications. With their RISE token, they were the first to bring the buyback to crypto. Since then, the buyback mechanic has become standard in space with countless forks. EverRise […]

Has Ethereum Succumbed To Market Fear? Bears, Bulls Can Watch This Key Level

Ethereum (CRYPTO: ETH) was falling over 10% lower at one point on Friday in sympathy with the general markets where the SPDR S&P 500 (NYSE: SPY) declined as much as 1.69% intraday following an abysmal jobs report.

Ethereum had been holding up strong in comparison to the stock market, rallying 18% between Saturday and Wednesday to reach a high of $4,784.50, which is just 1.74% below the Nov. 10 all-time high of $4.867.81. On Friday, possible market fear set in and began to drag the crypto down with it.

The pullback may be necessary to confirm a trend change, as long as Ethereum remains above a key level. If the level is lost, however, the crypto could be in for a much larger fall.

See Also: Bitcoin, Ethereum, Dogecoin Fail To Break Out — Is Crypto Market Stuck In A Cycle Or Set To ‘Pump Harder And Longer?’

The Ethereum Chart: Ethereum …

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