Bitcoin

Small hydropower plants have been put up for sale in China as demand for their cheap energy decreases following the government’s crackdown on crypto miners. Just as with mining rigs, their prices have been going down, leaving owners with limited options to recoup their investments. Ads for Hydropower Plants Appear on Xianyu Marketplace Advertisements for small-scale hydroelectric power plants have been placed recently on the online marketplace Xianyu, the South China Morning Post reported. The ‘second-hand’ installations come with a capacity of around 50 megawatts. The number of these offerings has increased markedly since the beginning of the government offensive against cryptocurrency miners in May. Three sellers have confirmed to the daily that the power plants went on sale because of the mining crackdown and one owner remarked that their prices have gone down. Another seller, obviously trying to convince potential buyers, pointed out: You can secretly mine cryptocurrency if y...

Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company’s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts. Coinbase Reveals USDC Savings Program With Interest Rates Eight-Times Higher the national average The cryptocurrency exchange Coinbase announced pre-enrollment for its usd coin (USDC) savings program that allows clients to earn a 4% APY interest rate on USDC held on the platform. Coinbase joins firms like Blockfi and Crypto.com that already offer interest on USDC stablecoin holdings. Still, Coinbase highlights in its announcement on Tuesday, that 4% APY on USDC is “more than 8x the national average of high-yield savings accounts.” “Everyone wants to get the best interest rate available for the assets they hold,” Coinbase explained in a statement. “But interest rates have decreased steadily over the past few decades, making it difficult to...

PRESS RELEASE. One of the leading blockchain-based NFT & Metaverse platforms, Dvision Network, has revealed that its long-awaited “Open Beta Test” (OBT) is going live on June 30th 2021. According to Dvision Network, the Open Beta Test launch will be divided into several phases, with the following stages to be announced after the successful completion of the 1st phase. The countdown has already started on their official website: https://dvision.network/ . Open Beta Test to incorporate new NFT features The Open Beta Test is the test phase that will precede the launch of Dvision World, an ultimate metaverse that will be a major platform of the Dvision Network’s Ecosystem. Dvision Network has integrated new features into the OBT, including My Space, Character Customization, and a community Leaderboard system. During the OBT, users will be able to fully customize their characters with options like selecting preferred nicknames and desired costumes for their characters, and will fur...

FTX Trading Limited has announced the company has partnered with seven-time Super Bowl Champion Tom Brady and Brazilian model Gisele Bündchen in a long-term deal. Both celebrities will have an equity stake in FTX and receive payments in crypto, the announcement explains. The NFL star Brady will serve as the ambassador for FTX, while the activist Bündchen will fill the role of FTX’s environmental and social initiatives advisor. NFL Star Tom Brady and Brazilian Model Gisele Bündchen Join FTX FTX continues to enter the realm of mainstream sports and celebrity partnerships and in 2021, the company has made numerous partnerships and acquisitions. For example, FTX was able to purchase the naming rights to the NBA’s Miami Heat arena, and the company also just partnered with MLB . The announcement on Tuesday is considered a historic deal made by West Realm Shires Services Inc., FTX Trading Limited, and Blockfolio Inc., the companies behind FTX. According to the press release sent to Bitco...

A growing number of crypto firms in the U.K. are withdrawing their applications to register with the Financial Conduct Authority (FCA). Around 64 firms have already withdrawn their applications and will not be able to operate in the U.K. The list of cryptocurrency companies abandoning their attempts to register with the U.K.’s financial regulator is growing, Reuters reported Monday. Under the current crypto regulation, the Financial Conduct Authority (FCA) is responsible for ensuring crypto companies’ compliance with laws on the prevention of money laundering and terrorist financing. Companies wanting to provide crypto-related services in the U.K. must register with the FCA before conducting business. An FCA spokesperson said Monday that registration data shows the number of companies that have ditched their applications jumped by 25% in less than a month. Around 64 companies have withdrawn their applications, the spokesperson said, up from 51 in early June. Only six f...

Mexico’s central bank, finance ministry, and banking regulator have jointly issued a warning about cryptocurrency. Finance Minister Arturo Herrera emphasized that cryptocurrencies are prohibited from being used in Mexico’s financial system. The central bank of Mexico, the finance secretary, and the National Banking and Securities Commission (CNBV) said in a joint statement Monday that crypto assets are not legal tender in Mexico and are not considered currencies under current laws. The regulators warned that financial institutions operating with them are subject to sanctions. Their statement reads: “The financial authorities reiterate their warnings … on the risks inherent in the use of so-called ‘virtual assets’ as a means of exchange, as a store of value or as another form of investment.” It adds: The country’s financial institutions are not authorized to carry out and offer to the public operations with virtual assets, such as bitcoin, ether, XRP and others in order to main...

All cryptocurrency exchanges in South Korea except the largest four may be unable to meet the bank account requirements needed to stay in business. A number of Korean crypto exchanges are considering suing the government and financial authorities, claiming that the country’s crypto law is unconstitutional. A number of exchanges are currently considering filing a lawsuit against the government and the financial authorities alleging the country’s crypto law is unconstitutional, Business Korea reported Monday. The revised Act on Reporting and Use of Certain Financial Transaction Information requires cryptocurrency exchanges to submit a document by Sept. 24 showing that they have a real-name account issued by a bank. However, banks in South Korea are reluctant to provide a real-name service to cryptocurrency exchanges due to money-laundering concerns. Several banks, including NH Bank and Shinhan Bank, are conducting risk assessments on the country’s largest cryptocurrency exchanges: ...