In the first weeks following the invite-only launch of its beta version, a rapidly growing userbase for crypto platform Friend.tech has some enthusiastic supporters hailing it as the first real success story in the social crypto space. In just two weeks, the platform reportedly gained more than 100,000 users and made about $25 million. Social token-driven platforms allow users—including individuals…
As the Bitcoin network hash rate tops 414 EH/s, miners are struggling to stay afloat amid plummeting profitability. Source: https://cointelegraph.com/app/public/index.php/news/bitcoin-profitability-nears-record-lows-hashrate-soars
State-owned electricity distribution company Électricité du Laos (EDL) has announced that it will suspend electricity supply to crypto mining operations in the country, citing various reasons such as the struggle to generate enough power amid drought conditions. According to the announcement, Laos experienced drought in the first half of 2023. The extreme heat resulted in higher demand for electricity and…
Bitcoin (BTC) starts a new week still struggling with $26,000 as August becomes its worst month of 2023. BTC price strength remains dubious after a snap crash ten days ago, with bulls unable to wrestle back control of the market to provide a relief bounce. The outlook looks similarly uncertain — September is traditionally a poorly-performing month for Bitcoin, and…
Indian Prime Minister Narendra Modi called for a global collaboration on formulating crypto regulations during the Group of 20 (G20) summit. G20 President India has taken up the task of advocating for a comprehensive global framework for regulating cryptocurrencies. G20 is the premier forum for international economic cooperation that plays a critical role in strengthening global architecture and governance on…
As the Bitcoin network hash rate tops 414 EH/s, miners are struggling to stay afloat amid plummeting profitability. Source: https://cointelegraph.com/public/index.php/news/bitcoin-profitability-nears-record-lows-hashrate-soars
Buyers, sellers, inflows and transactions have all taken significant dives on the Friend.tech platform after its launch just over two weeks ago, prompting some … Source: https://cointelegraph.com/public/index.php/news/friendtech-pronounced-dead-inflows-activity-declines
Many prominent crypto commentators are concerned that this will make crypto firms even more reluctant to do business in the United States. Source: https://cointelegraph.com/app/public/index.php/news/crypto-community-biden-crypto-tax-reporting-rules
Bitcoin mining revenue or “hash price” — a measure of dollars earned per TH/s per day — has slumped to levels not seen since the collapse of FTX in November 2022, while hash rate has reached new highs. Over the past week, Bitcoin network hash rate topped 414 exahashes per second (EH/s) on Aug. 18 marking a new peak for…
Hong Kong’s Financial Secretary, Paul Chan Mo-po has reiterated his support for blockchain technology, calling it the next wave of “breakthrough growth” in the digital technology industry in a recent blog post. In an Aug. 27 statement, Chan wrote that emerging sectors within Web3 such as NFTs, GameFi, Play-to-Earn gaming, and immersive entertainment are set to lead the next generation…
