The U.S. Congress will hold a hearing on the energy use and environmental impact of bitcoin mining on January 20, its Energy and Commerce Oversight Subcommittee announced on Thursday. The move was prompted by a letter sent to the House in October by a cohort of national and international climate organizations that argued against the energy usage of Bitcoin and…
January 2022 continues to be rough for crypto investors as current markets see turbulent fluctuations in the price of Bitcoin and other cryptocurrencies. Some have attributed the slump to recent federal intentions to introduce new rate hikes, and the political turmoil in Kazakhstan which significantly lowered the hash rate of bitcoin. On Jan. 14, the price of Bitcoin dipped below $42,000 as…
Bitcoin (BTC) and most major altcoins are facing selling at higher levels and buying on dips, indicating the possibility of a range formation. On-chain analysis firm Whalemap said that a “reclaim of $46,500 will look like a trend reversal,” for Bitcoin as the previous accumulation phase of 90,000 BTC was at this level. Fidelity Digital Assets said in its annual report…
In brief Art Blocks is a popular Ethereum generative artwork NFT project. The project has generated more than $1.3 billion worth of trading volume to date. When the NFT market surged to new heights late last summer, Ethereum project Art Blocks saw one of the steepest ascents. The generative artwork project jumped from $11 million in secondary market trading volume…
BTC Media, the organizer of the world’s biggest Bitcoin conference, Bitcoin 2022, announced that a music festival will close out this year’s edition of the gathering, uniting Bitcoiners around prominent performers. The Sound Money Fest (SMF) will be held at the combined campus of the Miami Beach Convention Center and the adjacent Pride Park on Saturday, April 9, from 10…
The Kingdom of Tonga may adopt bitcoin as legal tender, according to a former member of Tonga’s parliament, Lord Fusitu’a, who tweeted about a possible timeline for this event to occur. Fusitu’a believes that by next fall a bill will be passed by Tonga’s parliament and bitcoin could be legal tender in the region by November. Former Member of Tonga’s…
Cryptocurrency accounting and data company Lukka said it had raised $110 million in a new funding round led by hedge fund giant Marshall Wace. In a Friday announcement, Lukka said it had completed a $110 million Series E funding round led by Marshall Wace, with participation from Soros Fund Management — a fund created by billionaire investor George Soros —…
El Salvador’s historic embrace of Bitcoin (BTC) could have negative consequences on the country’s sovereign credit outlook, according to Moody’s Investors Service. Moody’s analyst Jaime Reusche told Bloomberg this week that El Salvador’s Bitcoin gambit “certainly adds to the risk portfolio” of a country that has struggled with liquidity issues in the past. Under the leadership of President Nayib Bukele,…
Rio de Janeiro Mayor Eduardo Paes has pledged to invest 1% of the city’s Treasury in cryptocurrencies, per Brazilian news outlet O Globo. “We are going to launch Cripto Rio and invest 1% of the Treasury in cryptocurrency,” Paes reportedly said during the Rio Innovation Week in a talk alongside Francis Suarez, Miami Mayor. O Globo also reported that Pedro…
The ICON Foundation announced plans to launch an interoperability incentive program for 200 million ICX, or approximately $200 million at the time of publication. The foundation supports the development of the ICON network, South Korea’s largest public aggregator chain. The foundation said that it hopes this program will incentivize the ICON community and its partner networks to adopt ICON’s Blockchain Transmission…
