Bitcoin mining difficulty rising again as miners resettle and get back to work
The global Bitcoin hashrate is now on an uptrend as miners pushed out by China resettle on friendlier shores and resume investing big money in mining equipment.
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South Korea’s Busan city to establish digital asset exchange
Busan, the “blockchain city” of South Korea, is in the early stages of building its own platform for digital asset transactions. Fast facts According to Coindesk Korea, Busan city has started setting up detailed plans and strategies in establishing a digital asset exchange. Its plans include building an ecosystem for securities token-based digital asset transactions…
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India admits it has no good data on crypto exchanges, despite years of debate over regulations
Speaking to Parliament, India’s finance minister reveals that the government does not know how many crypto exchanges India has nor the number of crypto users.
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IMF wants to be part of world’s transition to a digital economy
The International Monetary Fund says it has a mandate to help countries around the world adopt and adapt to digital currencies, but only if the digital money is in the public interest — which Bitcoin is not, according to an IMF report published yesterday. Fast facts While the IMF recognizes the potential benefits of digital…
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Here are Japan’s crypto investing bottlenecks, according to new report
Japan’s crypto-asset business association published a report yesterday that highlights issues in crypto investing for the country’s institutional investors. Fast facts This report is an update of the latest use cases and projects from the “Discussion Paper Interim Report on Cryptocurrency Use Cases” published on May 7, 2021, and is a supplementary material to the…
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Robinhood closes 8% down in underwhelming IPO
Robinhood’s hotly-anticipated market debut had an underwhelming start on Thursday, closing 8% down on its debut price of US$38, according to data from TradingView.com. Fast facts Trading under the ticker HOOD, Robinhood’s stock had an immediate rocky start, falling 10% before recovering slightly. But HOOD still ended the day at US$34.82. As Forkast reported recently,…
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Friends may forgive debts, but WeChat’s new blockchain IOU won’t let anyone forget it
China’s internet giant Tencent launched a blockchain-based digital IOU service on its flagship product WeChat, one of the nation’s most popular apps for messaging and payments. Fast facts Aside from Wechat’s existing “mini receipt” and “mini contract,” Tencent says its new IOU function would allow friends to borrow money more easily from each other, according…
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Crypto retirement plans are on the rise. Are they a good idea?
Tokenization is creating new ways to invest. 3 crypto firms are partnering to also offer crypto retirement portfolios and inheritance planning.
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Is Bitcoin mining hot again? These crypto insiders think so
Despite China’s crackdowns on Bitcoin mining and growing consternation about crypto mining’s carbon footprint, some miners are betting big on a rosy future.
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Iran’s electric utility issues warning about Chinese crypto miners
Iranian state electric company Tavanir has warned judicial officials about Chinese cryptocurrency miners coming to Iran, an influx that could worsen the country’s power outage problems, according to local media reports. Fast facts Tavanir CEO Mohammad Hussein Motevallizadeh said in a letter published by local news website Eghtesadnews that the Chinese government’s crackdown on crypto…