Tough market conditions continue to affect the Bitcoin (BTC) ecosystem as mining difficulty drops by its biggest margin since July 2021. A 7.32% difficulty adjustment took place on Dec. 6 at block height 766,080, marking the sharpest drop in difficulty in over a year. This coincided with a drop in average hashrate from 264.18 EH/s to 245.10 EH/s, according to…
Bitcoin payments app Strike said in a statement Tuesday that it had launched Send Globally, a new feature that lets U.S. users instantly and cheaply send money to Africa. “With exorbitant fees to transfer funds in and out of Africa and incumbent providers halting services, payments companies are struggling to operate in Africa and people cannot send money home to…
A Bitcoin (BTC) advocate on Twitter known by the name of ShireHodl, or simply Shire, sent over 110 micropayments to first-time Bitcoin Lightning users in response to Michael Saylor’s Lightning Network pool. Shire asked those new to Lightning to download a Lightning wallet from App Store or Google Play Store and to send him a QR invoice. To pay the invoice, Shire scanned…
Silvergate Capital Corp (NYSE: SI) shares have plummeted 8.49% to $24.24 during Monday’s trading after Morgan Stanley slapped the stock with a rating downgrade. Weak Q3 performance coupled with the FTX fallout is the primary reason behind the Wall Street bank’s decision to downgrade Silvergate’s share rating from equal weight to underweight. According to Barron’s, Morgan Stanley analysts outlined significant…
This is an opinion editorial by Ansel Lindner, a bitcoin and financial markets researcher and the host of the “Bitcoin & Markets” and “Fed Watch” podcasts. Two forces have dominated the globe economically and politically for the last 75 years: globalization and trust-based money. However, the time for both of these forces has passed, and their waning will bring about…
A South African digital-only bank (also known as a “neo bank”), Be Mobile Africa, has reportedly launched a crypto payment gateway that allows merchants to convert digital currency payments to fiat currency. Cédric Jeannot, the CEO of the digital-only bank, said the “new gateway is a game-changer” that also helps small businesses “preserve wealth in unfavourable economic conditions.” Storing Crypto…
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In a recent interview Michael Saylor, the MicroStrategy executive chairman and major Bitcoin (BTC) bull, shared his perspective on the fall of the FTX empire. Saylor said that for years there has been a low-grade “boiling Guerrilla war” between the BTC community opposite the crypto community over industry practices such as, what he repeatedly calls, “shitcoinery.” In Saylor’s perspective, Sam…
Bankrupt crypto lender Celsius was granted an extension on its exclusivity period until Feb. 15, 2023. The court approval would give the troubled crypto lender another couple of months to file for a Chapter 11 restructuring plan. The approval to extend the exclusivity period came after two court hearings on Dec. 6. Celsius, in an official tweet, said that they…
The Lightning Network has struck Ghana, Kenya and Nigeria. During a conference in Ghana, Strike CEO Jack Mallers announced that the Bitcoin (BTC) payments company has partnered with the mobile app Bitnob to facilitate payments into Africa. Mallers made the announcement on stage at AfroBitcoin, a Bitcoin conference in Ghana’s capital city of Accra. He stood alongside Bernard Farah, the Nigerian CEO…
