Bitcoin Demand Experiences Significant Decline Since April — CryptoQuant Analysis
According to a recent report by CryptoQuant dated August 20, the demand for Bitcoin has been on a downward trajectory since April, with recent weeks nearing negative levels. This decline…
Nigerian SEC Set to Issue Licenses for Cryptocurrency Platforms Amid Market Expansion
The Nigerian Securities and Exchange Commission (SEC) is poised to issue licenses to cryptocurrency exchanges, marking a significant development in the regulatory framework for digital assets within the country. This…
Bitcoin Mining Costs Soar by 168% as Capacity Expands
BitFuFu, a cloud mining company affiliated with Bitmain, has recently unveiled its unaudited financial and operational report for the second quarter of 2024, which concluded on June 30. The report…
Tether Issues an Additional $1 Billion USDT on the Tron Network
In a significant move to bolster its stablecoin reserves, Tether has recently minted an additional $1 billion USDT tokens on the Tron network. This latest issuance has raised the total…
Employees at South Korean Crypto Exchange Earn More Than Major Bank Staff
Employees and executives of Dunamu, the operator of the Upbit cryptocurrency exchange, are earning higher average salaries than their counterparts at some of South Korea’s largest banks. According to data…
Young Crypto Voter Affiliation in U.S. Swing States Shows Near Equal Split — Coinbase
Cryptocurrency may not be as partisan an issue as some might think, particularly in key battleground states that could determine the outcome of the 2024 U.S. presidential election. Research commissioned…
U.S. Considers Extending Fiat Reporting Mandates to Cryptocurrency Transactions
In a coordinated effort to tighten the regulatory oversight of cryptocurrencies, key federal agencies in the United States are revising the definition of “money” as it pertains to financial reporting…
Australia Battles Over 600 Crypto Scams, Cites Increasing Challenges Due to AI
In the past year, the Australian Securities and Investments Commission (ASIC) has been at the forefront of combating cryptocurrency scams, successfully dismantling over 600 fraudulent schemes. In a detailed statement…
Nigeria’s Tax Authority Proposes Comprehensive Legislation for Cryptocurrency Regulation
The Federal Inland Revenue Service (FIRS) in Nigeria is set to approach the National Assembly to support a new law aimed at regulating the cryptocurrency sector. This move, announced by…
VanEck Predicts $13.9 Billion Annual Boost for Bitcoin Miners from Shifting 20% Energy to AI and HPC
Investment firm VanEck has identified a lucrative opportunity for Bitcoin miners to enhance their revenue streams by tapping into the artificial intelligence (AI) and high-performance computing (HPC) sectors. In their…
Coinbase, KuCoin Among Companies Seeking Crypto Licenses in Turkey
The Turkish cryptocurrency landscape is witnessing a significant evolution as leading global companies like Coinbase and KuCoin vie for business licenses. This development follows recent regulatory updates by the Turkish…
IMF Executives Suggest an 85% Increase in Electricity Costs for Crypto Mining to Curb Emissions
In a move aimed at reducing global carbon emissions, two International Monetary Fund (IMF) executives have proposed significantly increasing the electricity costs for crypto mining. On August 15, Shafik Hebous,…
Chainalysis Reports Increase in Crypto Hacks and Ransomware in 2024
A recent report by Chainalysis highlights a mixed landscape for cryptocurrency markets in 2024. While overall illicit transactions have decreased, specific criminal activities, particularly hacking and ransomware, have seen a…
Binance Makes a Comeback in India as a Registered Crypto Exchange After Seven Months
After a seven-month hiatus, Binance has made a notable return to India’s digital landscape. The crypto exchange has been reinstated on India’s Google Play Store and Apple App Store as…
Iran Offers Rewards for Reporting Unauthorized Crypto Mining
In response to severe power shortages exacerbated by a brutal heatwave, Iran has implemented a unique strategy to curb unauthorized crypto mining. With temperatures reaching 113 degrees Fahrenheit (45 degrees…
Lagos State Unveils Plan to Tokenize Real Estate to Increase Revenue
The Lagos state government in Nigeria has embarked on an innovative journey to tokenize real estate using blockchain technology. This initiative aims to enhance transparency, streamline property transactions, and significantly…
Riot Platforms Amplifies Its Investment in Bitfarms with a $2.28 Million Share Purchase
Riot Platforms Inc., recognized as the third-largest Bitcoin miner on Wall Street, has escalated its engagement in the cryptocurrency mining sector by increasing its stake in the rival company, Bitfarms…
U.S. Government Transfers 10,000 Bitcoins
On August 14, 2024, at precisely 15:38:31 UTC, the United States government moved approximately 10,000 Bitcoin (BTC) to a wallet address that concludes with the letters “noe.” This information comes…
Revitalizing El Salvador’s Bitcoin City: $1.6 Billion Port Investment Marks a Historic Move
Yilport Holdings, a prominent Turkish port and terminal operator, has pledged an unprecedented $1.6 billion towards the development of two port projects in El Salvador, marking the largest private investment…
Coinbase Executive Calls for Comprehensive Overhaul of Canadian Crypto Regulations
At the Blockchain Futurist Conference held on August 13, Lucas Matheson, Coinbase’s Country Director for Canada, highlighted the current state of digital asset regulation in Canada and advocated for the…