Graphics card giant Nvidia CFO Colette Kress says the company has been unable to estimate how much impact reduced crypto mining demand had on its Q2 results, which fell short of analyst expectations. The chip giant released its financial results for the three months ended Jul. 31 on Wednesday, which revealed a 19% quarter-on-quarter drop in revenue to $6.5 billion,…
Global confectionery giant Mars has teamed up with virtual metaverse band KINGSHIP to create limited edition boxes of M&M’S featuring content from the Bored Ape Yacht Club (BAYC). KINGSHIP is a group made up of three BAYC NFT hodlers and one Mutant Ape Yacht Club MAYC owner. As part of the deal, the avatars depicted in the NFT art will…
Authorities in the energy-rich Russian region of Irkutsk have imposed hefty fines on crypto miners this year for illegal use of electricity to produce digital currencies. Power utilities have also filed hundreds of lawsuits, a report reveals, quoting prosecutors. Irkutsk Crypto Miners Pay 100 Million Rubles in Fines in 2022 Cryptocurrency mining has become a profitable business for many companies…
Ben Armstrong, the man behind Bitboy Crypto said that he is dropping the defamation suit against fellow Youtube content creator Erling Mengshoel Jr., who goes by the name Atozy. Armstrong officially filed the suit against Mengshoel Jr. on Aug. 12 in response to a Nov 2021 video titled “This YouTuber scams his fans… Bitboy Crypto” which alleged that Armstrong was…
Ethereum co-founder Vitalik Buterin suggests the superiority of cryptocurrency for payments is often “underrated” compared to fiat, pointing to the convenience of international payments and payments to charities as key examples. Buterin made the comments in a Twitter thread on Aug. 24, explaining that it’s not just resistance to censorship, but also convenience that makes cryptocurrencies “superior” when it comes…
This is an opinion editorial by Andrew Keir, an author of a daily newsletter, where he dives deeply into the transformational nature of Bitcoin. “Every time we witness an act that we feel to be unjust and do not act we become a party to injustice. Those who are repeatedly passive in the face of injustice soon find their character…
Iranian authorities have seized nearly 10,000 illegal cryptocurrency mining devices since March. According to reports, many of the seized crypto mining rigs were operating in public locations that receive free or heavily-subsidized electricity, such as schools and mosques. Iran Confiscates Nearly 10K Crypto Mining Devices Kambiz Nazerian, head of Tehran Electricity Distribution Company, said Monday that Iranian authorities have discovered…
The $74 million plan by two former Uniswap Lab executives for a new Uniswap Foundation has just become reality after their proposal received over 99% of the votes from UNI token holders. According to the initial proposal, the foundation aims to streamline Uniswap’s Grant Program (UPG) and reduce friction in the protocol’s governance system. Former Uniswap Labs executive Devin Walsh,…
Over $100 million in NFTs have been stolen in the last year, according to a new report by blockchain analysis firm Elliptic. The report released on Wednesday, “NFTs and Financial Crime,” covers nefarious crypto activity between July 2021 to July 2022. 🚨Over $100 million worth of NFTs were publicly reported as stolen through scams between July 2021 and July 2022,…
As the crypto world prepares for the Ethereum merge next month, popular crypto exchange Coinbase announced on Wednesday the launch of cbETH, its new wrapped and staked Ethereum ERC-20 token. Coinbase will add support for Coinbase Wrapped Staked ETH (cbETH) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds will be lost.…
