This bear market is proving to be especially tough for Bitcoin miners, but Canaan senior vice president Edward Lu says the industry is “evolving toward a positive long term.” 2022 has been an exceptionally rough year for the crypto market, and the last few months of Bitcoin’s (BTC) price action could be a sign that…
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“We are sorry that we underestimated how illiquid NFTs could be in a bear market when setting the initial parameters,” says the Bend DAO dev team. On Monday, developers of decentralized nonfungible tokens (NFTs) borrowing and lending protocol Bend DAO proposed new emergency measures in an attempt to stabilize the ecosystem. The same day, it…
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A total of 3.022 billion aUSD were previously minted via a liquidity bridge glitch. According to a new post by Acala Network co-founder Bette Chen, the community has voted to burn 2.97 billion worth of Acala USD (aUSD) stablecoin. Acala is a decentralized finance platform built on the Polkadot (DOT) ecosystem. The week prior, the…
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Tether, Circle and other stablecoin firms held $80 billion worth of short-term U.S. government debt as of May 2022, more than owned by Warren Buffett’s Berkshire Hathaway. Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players. Various stablecoin providers collectively held…
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South Korea has postponed its crypto gains tax on multiple occasions due to a lack of investor protection measures and regulatory guidelines. The South Korean Ministry of Strategy and Finance on Monday cleared that virtual asset airdrops, staking rewards and hard forked tokens would be subject to a gift tax under the Inheritance and Gift…
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An IT specialist working for a medical institution in Russia’s Altai Republic has been detained for illegally mining cryptocurrency at the premises of a Covid-19 hospital. The man minted digital currencies using stolen electricity for almost a year before law enforcement busted his crypto farm.
Altai Resident Apprehended for Running Underground Crypto Mining Operation
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Russia’s largest market for equities, bonds, and derivatives, the Moscow Exchange, intends to launch a product based on digital financial assets by the end of the year, an executive has revealed. The trading platform is already working with a partner to organize the placement of digital tokens. Russia’s Top Exchange to Facilitate Trading of Financial…
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SBI Holdings, the largest online brokerage in Japan, is shutting down its crypto mining business in the Russian Federation. Amid mounting uncertainty over the future of such investments due to the ongoing conflict in Ukraine, as well as decreased mining profits, the financial firm said it plans to sell its equipment and withdraw. Japan’s SBI…
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After terminating mining operations in Russia’s mining-rich region of Siberia in February, SBI still continues running some mining activity in the country. Japanese financial giant SBI Holdings has partly terminated cryptocurrency mining in Russia due to geopolitical uncertainty and the crypto winter. SBI Holdings suspended mining operations in Russia’s crypto mining-rich region of Siberia, citing…
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Jitters in crypto trading relate to a trade event wherein an investor’s buy or sell order gets stuck and moves down in the list, allowing newer trade orders to go through. The CEO of crypto exchange Binance, Changpeng ‘CZ’ Zhao, raised concern for traders after learning about the infamous phenomenon of trade jitters on other…
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