New York City’s Bitcoin-friendly mayor Eric Adams is strongly opposing a recent bill passed by the New York State senate to impose a two-year moratorium on new fossil fuel-powered proof of work (PoW) crypto mining operations. Speaking to Crain’s on Monday, Adams told interviewer Brian Pascus that he plans to ask Governor Kathy Hochul to “consider vetoing the bill that…
By Brian Armstrong, CEO and Cofounder Earlier today, I shared the following note with all Coinbase employees. Team, Today I am making the difficult decision to reduce the size of our team by about 18%, to ensure we stay healthy during this economic downturn. I want to walk you through why I am making this decision below, but first I…
Hardly a day goes by at the moment without an announcement from a high-end fashion brand about getting into Web3. Most recently we have seen Balmain’s creation of an NFT-backed ecosystem, followed a day later by Prada announcing that it was also getting in on the NFT game. As well as NFT releases, crypto payment options and digital stores in…
Miners provide a last line of defense for securing the Bitcoin network against brute-force attacks from malicious actors who might accumulate a majority of SHA-256 hash rate. The more hashing power is spent discovering new blocks for the longest Bitcoin chain, the more secure the funds on the trillion-dollar network will be. Despite a significantly depressed bitcoin price, however, which…
Five South Korean cryptocurrency exchanges said they intend to create a consultative organization which will help prevent a repeat of a Terra LUNA-style token collapse. The organization is expected to achieve its objectives by applying standards that are endorsed by the crypto exchanges. Screening Guidelines Five of South Korea’s leading domestic cryptocurrency exchanges have said they plan to create a…
Amid Monday’s crypto market crash, Tron’s recently launched algorithmic stablecoin USDD lost its dollar peg, slipping to a low of $0.9764 according to data from CoinMarketCap. At time of publication, USDD has yet to recover its dollar peg, with its price hovering around $0.98. According to Tron founder Justin Sun, USDD’s de-pegging happened because of large numbers of short sellers…
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When people began communicating with one another over a wired communication system, the internet, not long ago, it ushered in a revolution in the rate of user acceptance of the technology involved. Users could converse more readily anywhere and anytime when wired technology gave way to mobile technology. For example, smartphones are now bringing a flood of other services to…
Major cryptocurrency wallet provider Exodus continues paying its employees in Bitcoin (BTC) despite the ongoing bear market, with the total market cap dropping below $1 trillion on Monday. Since launching its software crypto wallet back in 2015, Exodus has been paying its staff 100% in BTC, Exodus co-founder and CEO JP Richardson told Cointelegraph. The company continued to pay all…
Following accusations that he defrauded investors in his bitcoin investment scheme, the South African radio presenter Sebasa Mogale has said he will take legal action against individuals that have reported him to the police. His lawyer insisted that no evidence will be found because Mogale never committed fraud. Five Fraud Cases Opened Against Mogale Sebasa Mogale, the Thobela FM presenter…
