Russian President Vladimir Putin recently expressed concerns about the impact of cryptocurrency mining on power supply in various regions of the country. He emphasized the uncontrolled electricity consumption by Bitcoin and other crypto mining facilities, leading to power shortages in areas such as Irkutsk region, Buryatia, and Trans-Baikal Territory. Putin highlighted the severity of the
Innovation
Senator Cynthia Lummis has raised concerns about the Biden administration’s proposal to impose a 30% tax on Bitcoin miners. She argues that such a high tax rate could have far-reaching implications on the innovation and growth of the industry. By stifling innovation and potentially forcing mining operations overseas, the tax could weaken both economic and
Coinbase recently announced its second-quarter earnings, reporting total revenue of $1.449 billion. This figure exceeded market expectations, showcasing the company’s strong revenue growth. In comparison to the same period last year, Coinbase’s income more than doubled from $674.1 million to $1.449 billion. A particularly noteworthy highlight from Coinbase’s Q2 report was its net income of
The second quarter of the year witnessed a mixed performance by the Binance Smart Chain (BSC). While the native token, BNB, remained largely flat with a 5% decrease quarter-over-quarter (QoQ), the chain experienced fluctuations in key metrics. According to a recent report by Messari, the chain’s revenue, which represents the total fees collected by the
US Senator Cynthia Lummis (R-WY) recently introduced the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act” in the Senate with the aim of supercharging the US dollar and paying down the national debt through the establishment of a strategic Bitcoin reserve. The BITCOIN Act proposes the creation of a Strategic Bitcoin Reserve
The Bahamas Securities Commission recently made an announcement regarding the passage of new crypto legislation, known as the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024). This move comes nearly two years after the collapse of FTX, a major crypto exchange. The goal of DARE 2024 is to bring regulatory clarity to the digital
Jonathan Mann, popularly known for creating a daily song for over sixteen years, along with conceptual artist Brian L. Frye, recently filed a lawsuit against the US Securities and Exchange Commission (SEC). The lawsuit revolves around the question of whether NFTs (Non-Fungible Tokens) representing digital art, like the ones created by Mann and Frye, should
Aayush Jindal is a prominent figure in the financial markets, with a wealth of experience spanning over 15 years in Forex and cryptocurrency trading. Known for his exceptional technical analysis skills, Aayush has established himself as a trusted advisor and senior market expert for investors worldwide. From a young age, Aayush showed a natural talent
Scott Matherson, a well-known crypto writer at NewsBTC, has made a significant impact on the crypto industry with his insightful articles. His ability to break down complex topics in a clear and engaging manner has helped readers understand the intricate world of cryptocurrency. With experience in industries such as banking and investment, Scott brings a
Aayush Jindal is a name synonymous with success in the world of financial markets. With over 15 years of experience in Forex and cryptocurrency trading, Aayush has established himself as a trusted advisor and senior market expert to investors worldwide. His journey to success began at a young age when he demonstrated a natural talent