Major Chinese bitcoin mining pools are each seeing daily hashrate drops of between 10% and 20% following continuous rainstorms in Sichuan. China’s southwestern Sichuan province, a mountainous region that is estimated to have over 50% of Bitcoin network’s total computing power, has been hit by heavy rainstorms since last week, which peaked over the last...Read More
Bitcoin made a major gain Monday while investors have locked over $6 billion in crypto into various DeFi services. Bitcoin (BTC) trading around $12,332 as of 20:00 UTC (4 p.m. ET). Gaining 4.1% over the previous 24 hours. Bitcoin’s 24-hour range: $11,774-$12,485 BTC slightly above its 10-day and 50-day moving averages, a bullish signal for...Read More
Price Point Bitcoin was mostly subdued over the weekend, staying in its recent range between $11,000 and $12,000. Ether, trading around $430, is looking to extend a run of four straight weeks of gains during which prices have nearly doubled. In traditional markets, U.S. equity futures and European stocks advanced after China’s central bank pumped about $100...Read More
George Ball, the former chief executive officer of Prudential Securities and now CEO of Sanders Morris Harris, suggested that bitcoin or other cryptocurrencies could be “a safe haven” for investors and traders as an alternative investment. Ball, who claimed himself as a Bitcoin and blockchain opponent, said in an interview with Reuters on August 14...Read More
Every epic tale needs a tragic hero, and one of the top candidates for that role in this century’s dramatic passage so far has to be the hedge fund manager. Toppled from their masters-of-the-universe pedestal in the early 2000s, they now eke out meager gains, dodge investor recriminations about fees and occasionally attempt to stay relevant...Read More
Social unrest on the one hand, “Degen Finance” on the other. Strap in for a very weird bull run. On this edition of The Breakdown’s Weekly Recap, NLW looks at the strange melange of realities interacting in the new emerging bull market. On the one hand, bitcoin has found narrative relevance and technical importance in a world...Read More
This is not a guide of how to trade crypto. This is not about how to make money, how to invest, or where to find alpha. But if you’ve dabbled in crypto-trading? Then you know this one thing: It can be all-consuming. When your money is on the line, suddenly you’re checking the prices more...Read More
In this audio interview, CoinDesk’s Leigh Cuen and Venezuelan journalist Javier Bastardo talk about cryptocurrency and the media industry. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS. This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Caracas-based bitcoiner and journalist Javier Bastardo has covered the crypto scene in Latin America since 2017....Read More
Paul Brody is a Principal and Global Blockchain Leader at EY. Decentralized finance (DeFi) services are booming, but there’s indication it’s recycling the same money around and around. To grow this market, enterprises need to get involved – and that won’t happen until users have privacy and security. In the old-school world of CeFi (centralized...Read More
According to a recent lawsuit filed in the Western District Court of Texas, data center power management firm Lancium has accused bitcoin mining firm Layer1 of infringing upon its patented technology to adjust power usage in bitcoin mining facilities. Backed by investors like PayPal Co-founder Peter Theil and the Digital Currency Group, CoinDesk’s parent company,...Read More
