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Jordan Lyanchev



Articles by Jordan Lyanchev

Bitcoin Price Primed For a Leg Up as Demand and On-Chain Data Favorable, Analysis

22 hours ago

Although bitcoin’s price continues to struggle at $60,000, on-chain data indicates several bullish developments for the primary cryptocurrency. Institutional investors have only intensified their purchases, long-time HODLers and miners refuse to sell, and the BTC stored on exchanges keeps declining.
On-Chains Data Suggests Skyrocketing BTC Demand
As CryptoPotato reported before, the number of bitcoins held on cryptocurrency exchanges has been declining for a while. More specifically, the BTC balance stored on trading venues reached a high in mid-March 2020, when the asset’s price slumped by 50% in a day and has plummeted since then to new yearly lows.
CryptoQuant data confirmed this statistic recently, indicating that bitcoin investors are in no rush to deposit their

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Mike Novogratz’s Galaxy Digital Filed for Bitcoin ETF With the SEC

1 day ago

The number of companies filing to receive approval to launch a Bitcoin ETF in the US continues to increase with the addition of Mike Novogratz’s Galaxy Digital. If approved, the Galaxy Bitcoin ETF will trade on the NYSE Arca exchange. 
Based in New York, Galaxy Digital is a diversified financial services firm dedicated to the cryptocurrency and blockchain industry. The company has made another pro-crypto step by filing with the US Securities and Exchange Commission to launch its own Bitcoin exchange-traded fund. 
The document reads that if the Commission approves the application, the Galaxy Bitcoin ETF will issue common shares of beneficial interest that trade on NYSE Arca.  
The value of the shares will follow the performance of the Bloomberg Galaxy Bitcoin index, which

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Binance Coin Sets a New ATH Surpassing $600 Ahead of The BNB Quarterly Burn

1 day ago

The growing anticipation for the 15th Binance Coin burn led to a highly volatile trading day in which the token surged to yet another all-time high of roughly $640 before dumping by over $100 in minutes. Interestingly, the enhanced fluctuations resulted in over $125 billion in BNB liquidated in hours.
15th Binance Coin Burn Incoming
Initially, as stipulated in BNB’s whitepaper, the token goes through a burning process every quarter in which Binance buys and destroys BNB worth 20% of the company’s quarterly profits.
However, back in January 2021, the company moved to a so-called “accelerated burn” rate which aimed to reduce the time it will achieve its goal of burning 100 million BNB down to five to eight years. However, they won’t reveal any information as to what

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You Can Now Trade Tesla as Tradable Stock Tokens on Binance

1 day ago

By partnering with a German-based investment firm and Switzerland’s Digital Assets AG, Binance will introduce zero commission tradable stock tokens. Each new coin will represent one share of equity stock and will be fully backed by a depository portfolio of underlying securities. The first such token will be Tesla.
Binance Launches Commission-Free Tradable Stock Tokens
The leading digital asset exchange, Binance, announced its latest development in a press release shared with CryptoPotato. The innovation will be possible by collaborating with the tokenization platform Digital Assets AG and the German licensed investment company CM-Equity AG.
Being fully backed by a depository portfolio of underlying securities representing the outstanding asset, the Binance Stock Tokens

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Bitcoin’s Market Cap Now Bigger Than Visa and MasterCard Combined

1 day ago

Apart from surpassing the $1 trillion level, bitcoin’s market capitalization is now worth more than two of the largest financial service companies – Visa and MasterCard – combined. Moreover, BTC’s market cap is also higher than several of the largest US-based banks, including JPMorgan, Bank of America, and Citigroup.
Bitcoin Above Visa and MasterCard
The previously referred to as “magical internet money” has been on a mind-blowing bull run since early October when it dabbled with $10,000. In a matter of months, the asset’s price skyrocketed more than six-fold. Naturally, it also impacted the cryptocurrency’s market capitalization, which is well above $1 trillion.
On its way up, bitcoin’s market cap surpassed those of notable names such as Netflix, Walmart, Samsung,

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Bitcoin Price Can Reach $400K Thanks to Institutional Adoption: Bloomberg

2 days ago

The price of bitcoin could surge multi-fold from its current level to $400,000 as its institutional adoption has intensified, noted Bloomberg analysts. In their recent report on the primary cryptocurrency, they also suggested that BTC is replacing the “old-guard” gold more “sudden than gradual.”
Bitcoin to Reach $400K?
In the latest monthly report on BTC’s performance, Bloomberg’s analysts, led by senior commodity strategist, Mike McGlone, outlined the $50,000 price mark as the asset’s baseline support.
Although they acknowledged $60,000 as the key resistance in bitcoin’s way up, they believe it’s actually “eroding” due to the massive adoption from behemoths like Morgan Stanley, Visa, Goldman Sachs, Tesla, and more.
The report signified the entrance of those names as the

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Canadian Broker Enables Bitcoin, Ethereum, and Ripple Payments

2 days ago

The narrative that cryptocurrencies are not used as payment methods continues to be debunked, with numerous companies enabling such transactions lately. One of the largest Canadian brokers, Matrix Mortgage Global, is the latest to introduce payments with Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), and some stablecoins.
Mortgage Payments with Crypto
Founded in 2008, Matrix Mortgage Global enables customers to receive financing on housing that has carried out over $1.5 billion in mortgage originations. The company has “championed alternative lending” since its inception, and its latest announcement could be regarded as another step in that direction.
Through a partnership with the US-based crypto service provider BitPay, Matrix Mortgage Global will

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Bitcoin Struggling at $60K: Stellar (XLM) Enters Top 10 After 25% Surge (Market Watch)

2 days ago

Despite overcoming its nemesis at $60,000 yesterday, bitcoin’s struggles with that particular benchmark level continue as the asset has dipped beneath it. Most altcoins have also retraced slightly, with the apparent exception of Ripple (XRP), which surged to a new 3-year high of $1.4 following more positive news in the ongoing legal battles with the SEC.
Bitcoin Dips Below $60K Once Again
After a three-week-long wait, bitcoin finally overcame $60,000 yesterday. Furthermore, the cryptocurrency kept going upwards and charted a high of $61,200.
However, the situation has changed since then. Just as the community was over joyous with the developments, BTC started to retrace.
In the following hours, the primary cryptocurrency lost roughly $2,000 of value to a low of $58,300 (on

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XRP Price Surges 40% to $1.4 as Court Disallows SEC to Access Ripple’s Execs Personal Records

3 days ago

The blockchain-based payment processor has registered another win in its ongoing legal battle against the US Securities and Exchange Commission. The Judge ruled in favor of Ripple by dismissing SEC’s request to access Ripple executives’ personal bank records. 
CryptoPotato reported in early March when the SEC sent subpoenas to six banks requesting personal financial information for Ripple’s CEO Brad Garlinghouse and the co-founder Christian Larsen.  
The duo objected and filed a motion indicating that they had agreed to provide all necessary records relating to XRP transactions but asserted their personal finances had no relevance to the case. Furthermore, their lawyers called SEC’s move a “wholly inappropriate overreach.” 
Judge Sarah Netburn has agreed with Ripple’s

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Real Estate Giant Teams up with Gemini to Buy Bitcoin and Allow BTC Rent Payments

3 days ago

Caruso, one of the largest estate companies in the US, has entered the BTC space with an undisclosed investment. The organization also revealed it will begin accepting bitcoin as payment for rent following a partnership with Gemini – the cryptocurrency exchange founded by the Winklevoss twins.
Pay Rent with Bitcoin
Without specifying the precise amount, Caruso announced earlier that it had made a “significant initial investment” in the primary cryptocurrency as part of its treasury management strategy. The move has made the company “the first to adopt the technology in the real estate industry.”
The firm completed the purchase through a partnership with Gemini, a US-based cryptocurrency exchange and custodian. The innovation reinforced the company’s confidence in the

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Bitcoin Price to $90,000, Ethereum to $15,000 if History Repeats: Kraken Report

3 days ago

Bitcoin and Ethereum have entered their second-most bullish month and could continue their respective runs with new highs by the end of it, reads Kraken’s monthly report. However, the paper outlined a potential $10,000 price drop for the primary cryptocurrency if history is to repeat itself before heading north again.
BTC and ETH: The Bull Side
Overall, March was a positive month for the cryptocurrency market, with the two largest digital assets, namely BTC and ETH, registering new records. In its monthly report on the industry’s development, the veteran US exchange Kraken indicated that bitcoin ultimately gained 30% and closed its sixth consecutive month in green.
This is the asset’s longest monthly winning streak since 2013, when it had seven back-to-back months of

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Bitcoin Explodes Above $60K: Ethereum & BNB Break ATHs

3 days ago

After failing to overcome its round-numbered nemesis of $60,000 for weeks, bitcoin has finally broken above it. Most alternative coins are also well in the green, with ETH and BNB surging to new ATH records at just shy of $2,200 and $485, respectively.
Bitcoin Skyrockets Above $60K
Bitcoin was unable to continue north following its all-time high in mid-March at $61,800. Just the opposite, the cryptocurrency reversed its trajectory and a few weeks later even threatened to dump below $50,000.
Although it tried on several occasions to reclaim $60,000, it failed, and every rejection drove it further south. However, the situation has changed in the past 24 hours.
It all seemed somewhat familiar as BTC struggled around $58,000 when the bulls took control and initiated an

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Kava 5.1 Upgrade Aims to Improve Earnings for Bitcoin Lending

4 days ago

The popular multi-asset DeFi platform powered by Kava Labs has optimized its network with the release of the Kava 5.1 upgrade. The company cited enhanced earnings from lending and decreased risks as the main benefits from the update.
Kava 5.1 Arrives
The software protocol enabling its users to utilize multiple crypto assets to borrow and lend funds without the need for a third-party intermediary announced its latest developments in a press release shared with CryptoPotato.
The statement outlined the release of Kava 5.1 as the significant milestone that could close the gap between the institutional investors entering the crypto space and Kava’s platform.
The company breached some of the recent purchases made by giants like Elon Musk’s Tesla, MassMutual, MicroStrategy, and

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‘NFT in Peace’ WWE Presents The Undertaker NFTs Ahead Of WrestleMania

4 days ago

The World Wrestling Entertainment announced today it will create the corporation’s first-ever non-fungible tokens (NFTs) representing legendary moments from the career of one of the most iconic fighters – The Undertaker. The four-tier drop will be launched ahead of the company’s biggest event this Saturday, April 10th – WrestleMania.
The Deadman as an NFT
WWE announced it will release non-fungible tokens featuring Mark William Calaway, better know by his ring name, The Undertaker. The legendary ex-superstar NFTs, who retired from professional wrestling last year, will be one of the spotlights of this year’s Wrestlemania.
The auction will open this Saturday at 10:30 AM ET. The drop is supposed to be met with significant interest and will last for 37 hours. The end will be

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Bitfinex Derivatives Launches Contracts for Tether Gold-Bitcoin With up to 100x Leverage

4 days ago

A year after the release of XAUt – a commodity-backed token pegged to gold – Bitfinex has announced the launch of a perpetual contract for the trading pair Tether Gold/Bitcoin. The new product will be settled in BTC and will offer up to 100x leverage for users.
XAUt/Bitcoin Perpetual Contract on Bitfinex
Launched in 2012, Bitfinex is among the oldest cryptocurrency trading venues owned and operated by iFinex Financial Technologies Limited. Back in 2019, the Hong Kong-based exchange expanded its platform by the release of Bitfinex Derivatives – “a digital token trading platform offering services for digital currency traders and global liquidity providers.”
In a press release shared with CryptoPotato, the exchange announced the addition of the latest product on its

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Bitcoin is at Tipping Point, Says Fidelity Digital Assets’ Head

4 days ago

A few months after questioning bitcoin’s store of value status, Tom Jessop, the head of Fidelity Digital Assets, stated that BTC and the entire industry are at a “tipping point” in terms of maturation and global adoption. He breached the COVID-19 pandemic and the “ultralow” interest rates as the most significant reasons behind crypto’s rise.
Tipping Point for Bitcoin Adoption
Fidelity Investments has been among the most receptive institutions when it comes down to the cryptocurrency industry for years through its crypto arm – Fidelity Digital Assets.
The branch’s President, Tom Jessop, gave somewhat surprising for some comments in late 2020 where he noted that bitcoin is “not quite there” as a store of value because of its enhanced volatility.
During a more recent

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Cardano’s Anti-Counterfeit Solution Sees First Successful Implemetation

5 days ago

The Cardano Foundation has partnered with a goods and products platform providing digital brand protection – Scantrust – to launch a supply chain traceability and anti-counterfeit solution. The first implementation saw the light of day with a Georgian artisan wine producer.
The Cardano-Wine Connection
The independent Swiss non-for-profit organization behind the popular Cardano blockchain announced its latest milestone earlier this week. After revealing the initial prototype in December 2020, the entity highlighted the official launch of the supply chain solution working together with Scantrust.
The concept plans to enhance traceability and consumer engagement for all types of businesses – from small and medium enterprises to Fortune 500 behemoths.
Essentially, the project

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America’s Second-Oldest Bank State Street to Enable Crypto Trading on its Platform

5 days ago

Shortly after the oldest US-based bank entered the cryptocurrency space, so has done the second-oldest – State Street Corporation. The banking giant with $3 trillion in assets under management will allow the London-based Puremarkets to use its Currenex platform for digital asset trading. 
Launched by Puremarkets Ltd., Pure Digital is advertised as an “interbank marketplace for cryptocurrency price discovery and exchange of wholesale risk.”  
According to an announcement from earlier today, the London-based company has partnered with the founded in 1792 US banking behemoth – State Street Corporation. 
Through the collaboration, Pure Digital will utilize State Street’s bank-grade trading platform called Currenex to enable crypto trading. 
The process will be fully automated

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Man Gets 12 Years in Prison After Trying to Buy Lethal Chemical Weapon With Bitcoin

5 days ago

Jason William Siesser, a Missouri man, tried to buy a hazardous chemical weapon on the dark web paying for it with bitcoin. He told the potential seller that he intended to use it soon, thus killing up to 300 people.
Another Purchase on the Dark Web via Bitcoin
A recent example of using the primary cryptocurrency as a payment option comes from Missouri, where a man tried to buy a deadly chemical weapon on the dark web.
According to federal authorities, 46-year old Jason Siesser attempted to buy the dangerous item on two occasions in the summer of 2018. He gave the seller a shipping address in the name of a juvenile, the Justice Department said.
On July 4th that year, Siesser ordered two 10-milliliter units of the chemical and paid with bitcoin. The investigation revealed

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The Central Bank of Sweden Released First Study of Digital Currency

6 days ago

Sweden’s plans to create a central bank digital currency might be more complicated than initially thought according to a new study published by the nation’s central bank. It estimated that the Scandinavian country could delay the release of the e-krona until 2026.
How Does a Cashless Future Look Like?
The Riksbank published the results of the first phase of a pilot project exploring an eventual post-cash era and its consequences. The simulation showed that the rapid speed at which cash is disappearing presents ”potential problems.” However, a digital currency under the control of a central bank has the ability to address them.
The project is colossal, and Sweden’s central bank, which is the oldest one in the world, keeps delaying the timeframe for completing it. Initially,

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Spain Seeks Public Comments on Potential Cryptocurrency Regulations

6 days ago

Cryptocurrency regulations across different countries continue to be a hot topic, and Spain is the latest to join in. The nation’s watchdog has asked industry participants, investors, and consumers for their opinion, and they have until April 16th to respond.
Spain’s Regulator Looks for Crypto Legislation
According to a report from La Informacion, The National Securities Market Commission (CNMV), Spain’s watchdog overseeing the securities markets, has initiated the first steps of nationwide crypto regulations.
The process has started by sending emails to representatives of the cryptocurrency industry, investors, and customers. They have less than two weeks to prepare statements with their comments on the proposals and send them back to the agency.
The coverage outlined

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Coinbase Reports Record-Breaking Q1 With $1.8 Billion in Revenue Ahead of IPO

6 days ago

A week prior to its direct listing on NASDAQ, Coinbase has posted preliminary Q1 data indicating a massive increase in its userbase and revenue. The trading volume has increased by nearly 300%, the revenue is about $1.8 billion, and more than 11% of all crypto assets are stored on the platform.
Coinbase’s Record-Breaking Q1
The largest US-based cryptocurrency exchange published its Q1 results yesterday, showing a substantial growth in every area compared to previous quarters.
Starting with the monthly transacting users (MTUs) – the increase is roughly 117% since the last three months of 2020. At the time, the number of the company’s user base was about 2.8 million, and it has expanded to 6.1 million in Q1 2021.
Naturally, this has also impacted the revenue, which has

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Demand for Bitcoin Increases Despite Regulatory Restrictions: Goldman Sachs CEO

6 days ago

The existing regulatory framework around cryptocurrency restricts Goldman Sachs from implementing its projects covering digital currencies, said the bank’s CEO, David Solomon. He added that customer demand has skyrocketed in recent months, which is the reason behind GS’s proactive crypto approach.
US Rules Bring Challenges for Institutions Engaging with BTC
Founded in 1869, Goldman Sachs is a giant US multinational investment bank that has displayed a somewhat controversial approach towards bitcoin and the entire cryptocurrency space.
Its previous actions included launching a cryptocurrency trading desk in 2017, halting it shortly after, and restarting it earlier this year. Before reactivating the initiative, though, Goldman held a conference call in which it claimed that

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Seven Time Super Bowl Champion Tom Brady to Release an NFT Platform

6 days ago

One of the most successful sportspersons, Tom Brady, looks to take advantage of the growing mania of non-fungible tokens. The legendary quarterback has announced intentions to release his own NFT platform called Autograph. 
The 43-year-old Brady is arguable the most successful American football player with a mind-blowing record as a seven-time Super Bowl champion. 
According to a CNN coverage, the quarterback has set his sights on perhaps the most quickly growing in popularity and use cases cryptocurrency field in the past few months – non-fungible tokens. 
By launching an NFT platform called Autograph, Brady plans to bring together notable names from various industries, including sports, fashion, pop culture, and entertainment. They will be able to develop personal unique

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After Bitcoin and Ethereum, CoinShares Launched a Physically-Backed Litecoin ETP

7 days ago

After releasing physically-backed exchange-traded products tracking the performance of Bitcoin (BTC) and Ethereum (ETH) earlier this year, CoinShares has expanded its portfolio with the addition of a Litecoin ETP.
Litecoin ETP Arrives from CoinShares
According to an announcement from April 6th, CoinShares has released another exchange-traded product tracking the performance of a cryptocurrency asset called CoinShares Physical Litecoin.
The company revealed that the base fee of the product will be 1.50%. It will be listed on Switzerland’s regulated stock exchange – Swiss SIX Exchange under the ticker LITE. Interestingly, the base currency will be the US dollar, despite being released in Europe.
CoinShares explained that each LITE unit will be backed with 0.20 litecoins upon

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Coinbase, Fidelity, and Square Form a Cryptocurrency Council to Lobby Regulators

7 days ago

As nations are dabbling with establishing legislative frameworks on the cryptocurrency industry, several giants have formed a coalition to lobby policy makers and conduct researches to ensure the proper implementation of such rules. 
According to a Wall Street Journal coverage from today, the prominent names to participate in the new initiative are the mutual fund behemoth Fidelity Investments, the financial service provider Square, the crypto-focused investment company Paradigm, and the largest US-based digital asset exchange Coinbase. 
Dubbed the Crypto Council for Innovation, the project aims to “lobby policymakers, take up research projects, and serve as the burgeoning industry’s voice in championing the economic benefits of digital currencies and related

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COTI Receives Investment From Cardano’s Venture Fund

7 days ago

By using its ecosystem venture fund dubbed cFund, Cardano has made its first investment in COTI. As part of the deal, the so-called “Finance on the blockchain” project will update the internally developed ADA Pay system to accommodate the upcoming Shelley mainnet.
Cardano Invests in COTI
Anchored by IOHK and managed by Wave Financial, cFund is a recently launched initiative that enables the parties behind It to “primarily” sponsor projects “synergistic with Cardano.” The first one to receive funding from the cFund is COTI, according to a press release shared with CryptoPotato.
The statement informed that the blockchain project describing itself as “the ultimate power grid of payments” has secured an undisclosed investment. By funding COTI, Cardano has doubled down on its

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XRP Price Soars to $1 In Anticipation of Today’s Ripple-SEC Hearing

7 days ago

Despite the ongoing legal battle with the Securities and Exchange Commission and today’s hearing, Ripple’s native digital asset has exploded in value in the past few days. XRP is more than 70% up in a week, and its price tapped $1 for the first time since mid-2018. 
CryptoPotato reported in late 2020 that the SEC has alleged the blockchain-based payment processor of conducting a $1.3 billion unregistered securities offering. 
Although Ripple’s executives claimed on numerous occasions that they will prevail, the consequences for the company and the native coin were immediate.  
Multiple exchanges started delisting XRP, especially such located in the US. The adverse domino effect impacted the asset’s price, which slumped by about 70% in a matter of days in late 2020. 
As

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Tether (USDT) to Launch on Polkadot and Kusama

7 days ago

The largest stablecoin by market capitalization, Tether (USDT), has announced plans to launch on two more blockchains – Polkadot and Kusama. Tether aims to become the first-ever stablecoin operating on Polkadot, but it will first launch on Kusama due to the availability of parachains.
USDT Goes on Polkadot and Kusama
Tether Operations Limited is the company behind the most widely-utilized stablecoin – Tether (USDT). With over $40 billion of market capitalization, USDT currently takes the 5th place in terms of the largest cryptocurrencies by that metric.
Tether operates on several blockchains, including Ethereum, TRON, Algorand, Solana, EOS, and Omni. The company announced the integration to two new DLTs in a press release shared with CryptoPotato.
It highlighted Tether’s

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Ripple’s CEO Says Bitcoin Will Reach Full Potential Through Renewable Energy Mining

8 days ago

Ripple’s CEO Brad Galinghouse has clarified his stance on bitcoin, clarifying that he has not argued for a ban against it. Nevertheless, he outlined that one transaction with BTC requires about 75 gallons of oil and noted that the entire crypto space should aim at turning bitcoin mining into a clean energy business.
Garlinghouse on BTC’s Carbon Footprint
BTC’s rapidly expanding price garnered the attention of the world. While some were quick to praise the assets for its unique characteristics, others focused on the negative part of those features, including bitcoin mining.
The process of validating transactions, securing the network, and ultimately creating new coins, uses lots of electricity, which has raised concerns regarding the carbon footprint the asset leaves.

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