Mining Blog & Mining News

Blog • 31 December 2020, Thursday, 05:00

Binance to Cover USD 10m in Losses for Users Affected by the COVER Hack

Following a COVER smart contract hack, major crypto exchange Binance announced they will use their funds to cover their users' losses to the tune of USD 10.1m. "In addition to the compensation plan from the COVER team, Binance will utilize the Binance SAFU Fund to recompense a total of [USD] 10,107,505 USD (distributed in 8,171,634.10 BUSD and 2,581.16 ETH) to affected and eligible users," said the exchange in their recent post. According to them, a large number of minted COVER tokens - gre...

Blog • 30 December 2020, Wednesday, 21:00

Power-starved Abkhazians Face Internet Restrictions in Crypto Mining Crisis

After months of power shortages leading to blackouts, brownouts, planned multi-hour electricity shutdowns and a blazing inferno at a power substation, citizens in Abkhazia are now set to be restricted in their internet activities as the government wages a confused war against crypto mining. After a series of seemingly mind-boggling u-turns and law changes, the government of the de facto South Caucus state has issued a temporary ban on crypto mining, which has gained massive popularity in Abkhazi...

Blog • 30 December 2020, Wednesday, 11:00

Cryptonews Rewind 2020: Q3 - DeFi Summer, New Bitcoin Bulls, More Hacks

Here is what happened in the Cryptoworld in the third quarter of this year: Total crypto market capitalization in Q3 July In July, the decentralized finance (DeFi) summer got hotter. Yield farming boosted by liquidity mining was all the rage, with compound COMP, BAL, and YFI all taking a turn in the spotlight. Cardano (ADA) entered a custody agreement with crypto exchange Coinbase, and founder Charles Hoskinson raised the idea of a collaboration with Litecoin (LTC). Dogecoin soared as TikTokers ...

Blog • 29 December 2020, Tuesday, 19:00

Why is the crypto world pinning hopes on DigiByte?

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Talk about the most promising crypto blockchain platforms today and you have DigiByte raking up a fair share of the limelight. Founded by leading crypto expert Jared Tate, DigiByte stands out as one of the fastest, longest, secured and the most decentralized UTXO blockchain today. The platform was officially launched in 2014 and since then the open-source blockchain has been at the forefront of the crypto scene...

Blog • 29 December 2020, Tuesday, 13:00

Indian Crypto Tax, Listed VR Company Diversifies Into Bitcoin + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Tax news The Indian government could become the latest to impose a tax on crypto trading. In a report, the Times of India stated that politicians are mulling the imposition of a flat 18% rate of goods and services tax (GST) on bitcoin (BTC), although altcoin trading would likely be covered by the same rules. The media outlet quoted “finance minis...

Blog • 28 December 2020, Monday, 13:00

BlackRock Prepares to Make More Crypto Moves + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investing news The American asset management giant BlackRock is looking to expand its crypto team, and has posted a vacancy for the new role of vice president and blockchain lead on its website in a bid to to drive up the demand for its crypto products. The successful candidate will need to be based in New York, where they will take charge of eva...

Blog • 28 December 2020, Monday, 11:00

Cryptonews Rewind 2020: Q1 - Missile Strike, COVID-19, Black Thursday

Here is what happened in the Cryptoworld in the first quarter of this year: Total crypto market capitalization in Q1 January The year started with Ethereum (ETH)'s Muir Glacier, announced to be a successful upgrade on the Ethereum mainnet, and the Cryptoverse wondered if Ethereum 2.0 would happen in 2020. Spoiler alert: it made an important step in that direction. And ETH 2.0 wasn't the only major theme picking up speed in January: so was the bitcoin (BTC) halving. As pre-Bitcoin halvi...

Blog • 26 December 2020, Saturday, 07:00

Data Leaks, Regulatory "Fun" and 20 Crypto Jokes

In the week leading to the holidays, a Twitter exchange between Elon Musk and Michael Saylor added fuel to the BTC rally, but shortly, as BTC dropped below USD 23K, and then it went back up. You know, the usual. But then serious problems hit the fan for Ledger and their users when personal info was dumped on Raidforums, with users reporting increased phishing attempts and even death threats hours later. The fan was hit some more when Ripple said the SEC plans to file a lawsuit against it because...

Blog • 25 December 2020, Friday, 13:00

Bitcoin's Christmas All-Time High, 1inch Token, Livecoin Hack + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Bitcoin news Number one cryptocurrency by market capitalization, bitcoin (BTC), has reached USD 24,603 today, setting a new all-time-high, according to Coinpaprika.com. It pulled back somewhat since, standing at USD 24,148 at the time of writing (15:20 UTC). Grayscale Investment Holdings currently holds USD 16.33bn worth of assets under managemen...

Blog • 24 December 2020, Thursday, 11:00

Binance to Exit South Korea, MoneyGram on Ripple, New SEC Chair + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news Binance is to shut down its South Korean operations with almost immediate effect, citing “low usage and volume with limited trading pairs of [its South Korean won-pegged stablecoin] BKRW, resulting in limited liquidity for its users” as its reasoning. In an official announcement, the firm stated that Binance Korea would commence it...

Blog • 24 December 2020, Thursday, 09:00

A List of Meta-Trends in 2021 Crypto Predictions

There is never a more appropriate time to do some fortune-telling in the Cryptoverse than the year-end holiday season. As this more than eventful 2020 is coming to an end, many are curious what the next year has in store for us. And though we can't know for sure, industry insiders can certainly make some educated guesses based on what happened so far. As last year, the team at cryptocurrency venture fund Token Daily Capital asked some builders and investors in the space about what they think...

Blog • 23 December 2020, Wednesday, 21:00

Polish Crypto Miner Prepares Its Services For South Korean Gamers

After obtaining a license to operate in Malta, Polish company GamerHash is pursuing its international development plans, aiming to launch its token on one of the leading crypto exchanges in Asia, and establish operations in South Korea. The firm’s expansion to Malta allowed GamerHash to raise around USD 2.8m by selling its gamercoin (GHX) token. The sale was carried out by the Poznań-based company CoinAxe which owns GamerHash. “We’re now proceeding with our first listing. Our expansion will begi...

Blog • 23 December 2020, Wednesday, 13:00

Another Listed Company to Invest in Bitcoin + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Bitcoin news Mogo Inc., a listed financial technology company that also operates MogoCrypto, a Canada-focused bitcoin (BTC) trading service, said that it plans to make an initial corporate investment of up to USD 1.5m in BTC and will consider additional investments in 2021 as it monetizes its USD 17m investment portfolio. The initial purchase wou...

Blog • 23 December 2020, Wednesday, 07:00

Mining Giant Nornickel Issues First Blockchain-powered Metals Tokens

Russian miner Norilsk Nickel, the world’s biggest palladium and high-grade nickel producer, has begun the first stage of its tokenization drive – partnering with two international exploration and mining firms to issue metal contract-backed, blockchain-powered digital coins. In an official release, Norilsk Nickel, fronted by Russian billionaire Vladimir Potanin, stated that the first companies to make use of its new Global Palladium Fund were the Luxembourg-based miner Traxys and Umicore, a mater...

Blog • 22 December 2020, Tuesday, 21:00

Russian Parliament Expects a 2021 ‘Surge’ in Token Issuance

Russia’s parliament, the State Duma, said that it is braced for a “surge in token issuance” in the new year. Per a report published in the Parliamentary Gazette, Anatoly Aksakov – the head of the Duma’s committee on financial markets and the chief architect of Russia’s crypto legislation – stated that parliament was expecting token releases to come thick and fast when the country’s first crypto law, “On Digital Financial Assets“ promulgates on January 1, 2021. Aksakov was quoted as stating that ...

Blog • 22 December 2020, Tuesday, 13:00

Huobi Set for US Return, Italians Experiment With Digital Euro + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news The Huobi business group appears set to make a return to the United States a year after it hastily exited the country. The group’s Hong Kong-based Huobi Tech subsidiary declared that it had received a trust license from the regulatory Nevada Financial Institutions Division. Huobi CEO Leon Li took control of Huobi Tech in a reverse ...

Blog • 22 December 2020, Tuesday, 01:00

Gwallet.Tech: A Hybrid Defi Blockchain Platform

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Blockchain technology has been revolutionary as it has enabled the developments of novel financial products. Concepts like staking, mining and ICO have largely flourished due to the developments of blockchain technology. One area that has grown in leaps and bounds is the decentralized finance (DeFi) sector. Decentralized finance has changed the protocols on lending and staking with the sector valued at over $6 ...

Blog • 20 December 2020, Sunday, 09:00

Yield Farming-boosted DeFi Set For New Fields With Old Challenges in 2021

2020 was the year of the DeFi explosion. Having had modest beginnings in 2018 and 2019, decentralized finance really took off this year, with the likes of Maker, Compound and Aave combining to push the total value locked (TVL) into the DeFi space to over USD 16bn. This peak represents a growth of more than 2,000% compared to the size of the DeFi sector on January 1, 2020. The question is: will DeFi have a similarly great 2021, and what will be the main trends in the sector next year? According t...

Blog • 19 December 2020, Saturday, 09:00

Gift Ideas For a Very Merry Crypto Christmas 2020

With another bitcoin (BTC) all-time high and Christmas knocking on our wreath-decorated doors, we are reminded that a major aspect of the holiday season is certainly - that’s right – shopping after an impressive bull run in the market this year. Let’s take a look at some interesting crypto-themed and crypto-paid gifts you can get for your loved ones, or for yourself. Or both! Last year, we offered a long and detailed assortment of Christmas gifts, be it the more traditional ones, or modern and u...

Blog • 19 December 2020, Saturday, 07:00

High Spikes, Higher Jumps, Highest Bulls and 20 Crypto Jokes

In the week of bulls, bitcoin not only touched the USD 20K level, but it shot right past it, and towards USD 23K, and over it. It’s much appreciated (pun intended). As more people are interested in buying BTC and ETH than selling them, Bitcoin bulls and bears listed the reasons why they think the price will rise or drop by 2030, MassMutual's bitcoin purchase might attract fresh billions to the number one crypto, and exchanges reportedly sent more bitcoin transfers worth USD 1m or more in 202...

Blog • 17 December 2020, Thursday, 17:00

If Traditional Finance Moves to CBDCs, 2 Scenarios Open for DeFi - INDX CEO

Traditional finance can't escape decentralized finance (DeFi). The former's move into digital currencies is bound to impact both, producing two main possible scenarios, according to Jonathan DeCarteret, CEO of tokenized crypto fund INDX Capital. DeFi is light years ahead of traditional finance, but are banks going to catch up at some point, or will they become nearly obsolete? DeCarteret finds that this question is tightly connected to the emergence of central bank digital currencies (CB...

Blog • 17 December 2020, Thursday, 15:00

(Un)Surprising Results Of Bitcoin's 3 Year Journey From One ATH to Another

Bitcoin (BTC) has gotten far in just three years since its previous all-time high, breaking technological, psychological, and adoption barriers along the way, so we've checked the exact numbers and compared today's to the previous all-time high in 2017 - and some results may be somewhat unexpected. While most values below (including the price) are 30-day average, looking at the all-time-high values is not as clear-cut. The reason is, as we previously discussed, that there simply isn'...

Blog • 17 December 2020, Thursday, 13:00

Regulatory Crypto Primer, NiceHash Reimburses BTC 4.6K Hack Victims + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Regulation news The US Commodity Futures Trading Commission (CFTC) released a Digital Assets Primer today. The focus of this primer is broader to include not only virtual currency, but also smart contracts and other digitized representations of value or ownership, they said. It also identifies areas and topics for further consideration, including...

Blog • 16 December 2020, Wednesday, 13:00

Several Major Bullish News For Bitcoin and Ethereum + More

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Investing news One River Asset Management, a hedge fund specializing in volatility bets, has already invested over USD 600m in cryptoassets and has commitments that will bring its holdings of bitcoin (BTC) and ethereum (ETH) to about USD 1bn as of early 2021, Bloomberg reported, citing CEO Eric Peters, who joined forces with prominent investor Al...

Blog • 16 December 2020, Wednesday, 09:00

The Big Comeback of 2020: Bitcoin Revisits USD 20,000

It finally happened on December 16th, 2020. The most popular cryptocurrency, bitcoin (BTC) just revisited the USD 20,000 level on multiple exchanges for the first time since December 17th, 2017, when it touched USD 20,089. At pixel time (13:49 UTC), BTC trades at more than USD 20,150 on Binance, HitBTC, Coinbase Pro, and Bitstamp. After crashing to almost USD 3,000 in December 2018, BTC started its series of hitting all-time highs (ATH) only in November this year, almost touching USD 20,000 on t...

Blog • 15 December 2020, Tuesday, 17:00

Japan’s Biggest Crypto Bull SBI Makes M&A Charge in UK Liquidity Firm Deal

Japanese banking and securities giant SBI Holdings has had a bullish year in crypto – and it isn’t done with 2020 yet. The firm has announced its first meaningful overseas crypto acquisition deal, snapping up the UK-based crypto liquidity provider and brokerage B2C2 for an undisclosed sum. In a press release, SBI Financial Services, a subsidiary of parent company SBI Holdings, claimed it had sealed the deal to make it the “world’s first financial conglomerate to open a cryptocurrency dealing des...

Blog • 15 December 2020, Tuesday, 15:00

CryptoWars Is An Ideal Combination of Gaming and Liquidity Mining

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Decentralized finance (Defi) has сaused a mighty furor recently. Users have forgotten almost about everything while searching for money earning opportunities. Fortunately, the CryptoWars decentralized platform has created a wonderful solution that allows efficient and entertaining gamification of liquidity mining. Does it sound too complicated? Not even! Have you ever thought about an ideal combination of gami...

Blog • 15 December 2020, Tuesday, 13:00

Italian Banking Giant Enters Bitcoin, Mt. Gox Rehabilitation + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Banking news Another banking giant has entered the crypto custody fray, with Italy’s Banca Generali set to offer bitcoin (BTC) custody to its customers. In a press release, the bank, which has over USD 79bn in assets and caters primarily to wealthy clients looking to safeguard their fortunes, has sealed an agreement with a crypto and fintech firm...

Blog • 15 December 2020, Tuesday, 09:00

Ethereum 2.0 Has Another Mystery - Taxes

As ethereum (ETH) holders are now learning how to stake their tokens and earn interest along the way, there is one question they’ll eventually need to ask, and hope there is a clear answer by then. Yes, it’s taxes. And the only thing that’s clear is that there’s no regulatory clarity on how ETH stakers will be taxed (at least in the US). Shehan Chandrasekera, Certified Public Accountant (CPA), Head of Tax Strategy at CoinTracker, a cryptoasset portfolio tracker and tax calculator, said even the...

Blog • 15 December 2020, Tuesday, 07:00

Bitcoin Bulls and Bears List Reasons Why Price Will Rise or Drop by 2030

The majority of the respondents surveyed by hashpower provider Genesis Mining remain bullish on bitcoin (BTC)'s long-term future, listing their reasons for believing so, including bitcoin adoption potential, security, and previous price rise. Also, nearly 20% of the participants said they're bearish on BTC's value, and these bears have their reasons too, the largest of which is, you guessed it, regulation. The provider surveyed 1,000 bitcoin investors on the coin's future. Perc...

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