Crypto EcoBlog
The bitcoin reserves on BlockFi – the popular lending and borrowing platform enabling users to receive interest – have declined to an all-time low. This, combined with recent reports claiming that whales have started to sell off their positions, raises the question of whether large BTC investors may have averted from HODLing. BlockFi BTC Reserves Decline Founded in 2017, BlockFi allows investors to lend their cryptocurrency assets in order to gain interest. However, it seems...
Read More »China Reportedly Orders Bitcoin Miners in Sichuan to Temporarily Cease Operations
The Chinese government has reportedly intensified its crackdown on cryptocurrency mining and usage in the country by shutting down several crypto mining facilities in Sichuan. Sichuan Bitcoin Miners Join the List According to Wu Blockchain, the authorities of the Sichuan province officially issued a statement today, mandating every power supply company in the province to stop providing energy to crypto mining firms. The statement also reportedly clarified that the power...
Read More »Spanish Banking Giant BBVA to Launch Bitcoin Trading and Custodial Services in Switzerland
After conducting tests for several months, the Swiss branch of the large Spanish bank – Banco Bilbao Vizcaya Argentaria (BBCA) – has announced plans to release two services related to the cryptocurrency industry. According to the official statement, private banking customers based only in Switzerland will have the option to trade bitcoin and other digital assets starting from Monday – June 21st. BBVA’s second service will enable its clients to store their digital assets on a...
Read More »Paraguayan Official Confirms: In July We Legislate Bitcoin
Paraguay’s Deputy of the Nation, Carlos Antonio Rejala Helman, has confirmed that new legislation in regards to Bitcoin will arrive in July. This comes amid growing adoption in Latin America led by El Salvador, which could be followed by Panama as well. CryptoPotato reported last week when Rejala Helman said his country planned to start working on an “important project” that included Bitcoin and PayPal Although he provided little-to-no information at the time about the...
Read More »Miami’s Mayor Lures Chinese Bitcoin Miners With Cheap Nuclear Energy
The bitcoin miners who are ousted from China with the latest crackdown could find a place in Miami, Florida. The city’s mayor, Francis Suarez, said he’s working on lowering the costs for electricity in order to attract more miners to the region. BTC Miners Going to Miami? In a recent interview with CNBC, Francis Suarez spoke about the city’s BTC adoption, but this time he specifically focused on mining. He also touched on the topic of using clean energy. Miami’s mayor wants...
Read More »NASCAR Driver Landon Cassil to be Paid in Bitcoin and Litecoin
Popular NASCAR driver Landon Cassill will soon become the first auto racing driver to receive his salary in cryptocurrency via a new partnership with crypto brokerage firm Voyager Digital Ltd. First Auto Racer To Receive Crypto Salary In an official announcement today, the National Association for Stock Car Auto Racing, LLC (NASCAR), an American auto racing sanctioning and operating company best known for stock car racing, revealed that Cassill will be paid fully in...
Read More »Analysis: BitMEX Traders Short BTC In Large Quantities – Good Buying Opportunity?
Bitcoin traders utilizing the popular derivatives exchange BitMEX still seem significantly more bearish on the asset’s future price developments, on-chain data reveals. At the same time, a prominent analyst argued that the most violent stages of the recent market crash are over, which could suggest good entry opportunities. BitMEX BTC Traders Still Bearish Bitcoin’s price went through a roller-coaster in the past month propelled by FUD and over-leveraged positions on...
Read More »Elon Musk Should Study Bitcoin Mining More, Advised Kraken’s CEO Jesse Powell
Elon Musk should study more bitcoin mining as the cryptocurrency is actually a lot greener than people believe, commented Kraken’s CEO, Jesse Powell. In a recent interview, the executive also admitted that the crypto market has cooled off after the latest bull market. Musk Should Study More BTC Mining Tesla’s CEO made the news last month after the EV-maker disabled bitcoin payments citing environmental concerns. Musk started to frequently bash the high energy consumption...
Read More »Iron Finance’s Titan Token Crashes to $0 In a Sudden DeFi ‘Bank Run’
The field of decentralized finance is one where there’s a non-zero chance of protocol failure. In other words – scams, exploits, rug pulls, and whatnot are something to be constantly vigilant about. Iron Finance becomes the latest protocol to go through a massive exploit, which saw the price of its tokens plummet in what they describe as a ‘bank run.’ What Happened With Iron Finance? Iron Finance is a DeFi protocol with two cryptocurrencies under its belt – IRON and Titan....
Read More »VanEck’s Bitcoin ETF Application Further Delayed by the SEC
The global investment manager VanEck would have to wait more to receive the SEC’s answer about its Bitcoin ETF application from earlier this year. The Commission’s second delay seeks other interested parties to weigh in on whether such a product will be sustainable. After withdrawing its previous attempts, VanEck filed another application with the US Securities and Exchange Commission in March this year to release a Bitcoin ETF. The agency initially delayed the decision back...
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