The Birth of a Russian BTC Mining Hub TASS says energy professionals think that crypto mining “has been widely carried out in Irkutsk since 2019.” They claimed that the rise of Irkutsk as a mining destination was largely “due to a ban on cryptocurrency mining in China” and “the lowest electricity tariffs for the population...
Future Industry Will be Built on a Combination of AI and Blockchain: Teng Teng believes that the future industry, whichever sector, will be built on the combination of AI and blockchain. “You can’t run away from that. There’s so much talent pool working in this space, the best and the brightest,” he added. As a...
The US Securities and Exchange Commission (SEC) charged crypto advisor firm Galois Capital Management LLC on September 3 with custody and disclosure failures that harmed its investors. Per an SEC press release, Galois Capital agreed to pay the agency $225,000, which will be distributed to the firm’s harmed investors. *SEC CHARGES CRYPTO-FOCUSED ADVISORY FIRM GALOIS...
Matter Labs announced a reduction of its workforce by 16% as part of a restructuring effort on September 3. According to a social media post by CEO Alex Gluchowski, the decision follows an internal review that identified a mismatch between the company’s current roles and its evolving focus on supporting ZKsync Era and ZK Chains....
Accomplices ‘Converted Crypto to Cash to Help Fraudster Escape’ A spokesperson said undercover detectives eventually managed to locate his “hideout” – an apartment in Guri, Gyeonggi Province – on August 25. Officers explained that Kim had “evaded investigators” by “frequently moving house” and “using a fake phone and fake bank account while on the run.”...
Retail Crypto Trading High in South Korea Many crypto exchanges have been facing significant regulatory hurdles from South Korean financial authorities and struggle to break into the market. Upbit and Bithumb hold over 95% market share, and strict regulations hinder new exchanges’ entering, reports Tiger Research. “Retail participation is extremely high. So it’s a very...
The Downfall of the Venezuelan State-run Cryptoasset Maduro and his cabinet spearheaded a set of policies that saw the Latin American nation launch its own oil-backed cryptoasset, which it named the Petro (PTR). The government also created Sunacrip, a state-run agency that oversaw crypto policy, as well as a state crypto-powered remittance platform named Patria....
The major pattern underscores a recurring relationship where “historically, lower Hash Price periods have coincided with Bitcoin price bottoms.” A notable example of this pattern occurred in 2020 following the COVID-19-induced cross-market crash. Bitcoin’s price hit significant lows during this time, coinciding with a sharp decline in hashprice. However, as the year progressed, especially after...
CryptoQuant reports that despite these positive signals, the broader picture of Bitcoin demand remains less encouraging. Overall demand growth has been sluggish and has even turned negative in recent weeks. This trend contrasts sharply with the situation earlier in the year; in early April, when Bitcoin was trading at $70,000, apparent demand was much stronger....
Lee Jun-seo, the Chairman of the KSA, claimed that as “digital assets” were set to play such a key role in financial markets, “more detailed legislation” was now “inevitable.” He claimed that failing to roll out this legislation would “increase financial market instability” and spark “consumer protection issues.” Lee reminded attendees that lawmakers have “an...
