Mining Blog & Mining News

Blog • 03 October 2023, Tuesday, 05:45

Chia Network Faces IPO Setback, Lays Off 26 Workers – Bear Market Woes Continue?

Chia Network Faces IPO Setback, Lays Off 26 Workers – Bear Market Woes Continue? The bear has claimed more victims: blockchain and smart-contract platform Chia Network announced today that it has fired nearly 30 of its staff, at the time the company is making moves to go public in the US. According to the post on the project's Twitter account, Chia has "eliminated 26 positions" across the Network."It stated that,"The Crypto Winter, industry skepticism, and banking crises have created a chall...

Blog • 03 October 2023, Tuesday, 05:35

Bitcoin Price Prediction: 'Uptober' Surge, US Warnings & UK Chase Bank Controversy

Bitcoin Price Prediction: 'Uptober' Surge, US Warnings & UK Chase Bank Controversy Amidst a turbulent landscape for the world of cryptocurrency, Bitcoin price finds itself at the centre of various discussions. Trading at $27,593, it recorded a nearly 1.5% dip on Tuesday. As the month unfolds and the market leans into the positive momentum termed as "Uptober", challenges still loom on the horizon. On one hand, the US has heightened its scrutiny on digital assets with the SEC and fiv...

Blog • 03 October 2023, Tuesday, 05:25

Crypto Products Record $21 Million Inflows, Solana Leads Altcoin Resurgence

Crypto Products Record $21 Million Inflows, Solana Leads Altcoin Resurgence Digital asset products recorded inflows of $21 million for the first time after six consecutive weeks of outflows. An Oct. 2 market report released by CoinShares show a change in the tide in crypto investment products amid the bear market that continues to wear down asset prices, miner profits and wider adoption. The week started low with traders expecting another week of losses but things took a different turn on Friday...

Blog • 03 October 2023, Tuesday, 05:15

Ethereum Price Prediction as $12 Billion Trading Volume Floods In – Where is ETH Heading Next?

Ethereum Price Prediction as $12 Billion Trading Volume Floods In – Where is ETH Heading Next? The Ethereum price has dropped by 3.5% in the past 24 hours, falling to $1,667 today as the cryptocurrency market loses 2.5% amid profit-taking from investors.Despite today's loss, ETH remains up by 5% in a week and by 2% in the last 30 days, with the market's biggest altcoin also having gained by 39% since the beginning of the year.And with the market as a whole still carrying momentum from it...

Blog • 03 October 2023, Tuesday, 04:20

Celsius Network Seeks Final Court Approval to Begin Customer Repayments by Year-End

Celsius Network Seeks Final Court Approval to Begin Customer Repayments by Year-End During an October 2 hearing regarding the approval of its reorganization plan, the bankrupt crypto lender, Celsius Network, informed a judge of its intention to initiate repayments to its customers by the end of the year.As per a report by Bloomberg, Celsius' recovery strategy involves transitioning into a user-owned Bitcoin mining operation named "NewCo." The company expressed its aim to return a portion of ...

Blog • 03 October 2023, Tuesday, 04:10

Chimpzee Burns 80% of its Original Supply to Fuel Price Action

Chimpzee Burns 80% of its Original Supply to Fuel Price Action Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.Chimpzee presale is rapidly gaining attention as investors unload their saturated crypto deposits for the new cryptocurrency that is predicted to go on a bull run later this year. The market relevance of the project in wildlife conservation, combined with the passive income potential generated initial momentum around it. But the fact th...

Blog • 03 October 2023, Tuesday, 03:35

US SEC's Ethereum ETF Approval Officially Confirms Its Non-Security Status, Says Former CFTC Chairman

US SEC's Ethereum ETF Approval Officially Confirms Its Non-Security Status, Says Former CFTC Chairman The recent approval of Ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) officially establishes Ethereum's status as a non-security, former CFTC Chairman and Head of Policy at a16z Crypto, Brian Quintenz, posted on X today.On October 2, a total of nine ETF products designed to track futures contracts tied to the value of Ethereum's native cur...

Blog • 03 October 2023, Tuesday, 03:05

Binance Aids Thai Police in Crackdown on Crypto-Related Criminal Networks

Binance Aids Thai Police in Crackdown on Crypto-Related Criminal Networks Crypto exchange Binance has played a major role in aiding Thailand’s Royal Police in identifying and cracking down on several crypto-related criminal networks.The company told Cryptonews that Binance’s investigations team alongside the Cyber Crime Investigation Bureau (CCIB) and the Royal Thai Police's Central Investigation Bureau (CIB) have tracked down criminals responsible for major cryptocurrency scams.Thanatus Kan...

Blog • 03 October 2023, Tuesday, 03:00

Chainalysis Lays Off Another 150 Employees Amid Ongoing Market Downturn

Chainalysis Lays Off Another 150 Employees Amid Ongoing Market Downturn In response to the ongoing market downturn and reduced commercial demand, blockchain analytics firm Chainalysis is laying off another 150 employees, representing over 15% of its workforce. CEO Michael Gronager informed employees of the decision in an email on Monday evening, according to a recent report by Forbes.The new round of layoffs comes as the decline in cryptocurrency prices over the past year has limited the demand ...

Blog • 03 October 2023, Tuesday, 02:10

Argentinian Presidential Frontrunners Pit BTC & Dollar Against CBDC

Argentinian Presidential Frontrunners Pit BTC & Dollar Against CBDC A leading Argentinian presidential candidate says he will launch a CBDC if he is elected – putting him on a collision course with a pro-Bitcoin dollarization advocate.According to the media outlet Ambito, Sergio Massa, the country’s current Minister of Economy and a candidate for this month’s elections, called for the creation of a digital peso during a live debate.He said:“We are going to launch the Argentine digital curren...

Blog • 03 October 2023, Tuesday, 01:55

India Planning to Launch Global Database of Crypto Exchanges by Next Year

India Planning to Launch Global Database of Crypto Exchanges by Next Year India is planning to introduce a comprehensive global database of cryptocurrency exchanges to help law enforcement agencies combat crypto-related crimes. This initiative comes as part of India's push to align itself with international standards for regulating cryptocurrency assets. As per The Economic Times report, the launch is expected by the end of the current financial year.Global Database to Help Law Enforcement A...

Blog • 03 October 2023, Tuesday, 00:50

Binance CEO Changpeng Zhao Faces Class-Action Lawsuit Over Alleged Role in FTX's Collapse

Binance CEO Changpeng Zhao Faces Class-Action Lawsuit Over Alleged Role in FTX's Collapse Binance CEO Changpeng Zhao and Binance.US are facing a class-action lawsuit filed by a California resident Nir Lahav for their alleged role in causing the downfall of rival exchange FTX.The lawsuit further accuses them of various violations of federal and California law related to unfair competition and attempts to monopolize the cryptocurrency market.The Lawsuit Claims CZ’s Tweets Harmed FTXThe lawsui...

Blog • 02 October 2023, Monday, 21:15

Moscow Claims Russia Will Be Using Digital Ruble in LATAM by 2025

Moscow Claims Russia Will Be Using Digital Ruble in LATAM by 2025 A senior Russian politician says domestic firms will be using the digital ruble, the nation’s CBDC, in Latin America no later than 2025.The comments were made by Anatoly Aksakov, the Chairman of the State Duma Committee on the Financial Markets.Per Tass, Aksakov, who is also the MP for Chuvashia’s Kanash constituency, stated that the digital ruble “will enter the international arena in 2025.”He also stated that it could be used in...

Blog • 02 October 2023, Monday, 19:55

Legal Experts Weigh In: Sam Bankman-Fried's Limited Defense Options Revealed

Legal Experts Weigh In: Sam Bankman-Fried's Limited Defense Options Revealed With former FTX boss Sam Bankman Fried's (SBF)’s first day in court fast approaching, experts say his paths to acquittal are looking quite scant. On one hand, government prosecutors have already secured cooperation and plea deals from major figures closely tied to the founder’s alleged fraud scheme. On the other, Bankman Fried’s bad habit of over-communication has only heightened the risks that prosecutors catc...

Blog • 02 October 2023, Monday, 18:50

VanEck's Ethereum Strategy ETF on Track for CBOE Listing

VanEck's Ethereum Strategy ETF on Track for CBOE Listing VanEck's Ethereum Strategy Fund (EFUT) is set for listing on the Chicago Board Options Exchange (CBOE), according to an announcement on its website.The investment management firm is gearing up to launch its Ethereum-styled futures contracts on October 2, having received approval from the US Securities and Exchange Commission (SEC).According to the company, the Ether futures exchange-traded fund (ETF) is expected to be entirely sta...

Blog • 02 October 2023, Monday, 18:20

Best Crypto to Buy Now October 2 – THORChain, BitcoinSV, Polygon

Best Crypto to Buy Now October 2 – THORChain, BitcoinSV, Polygon Fueled by renewed optimism, Bitcoin briefly rallied back above $28,000 on Monday for the first time since August.But the largest cryptocurrency has since pared those gains, dipping to $27,758 as of writing, down 0.85% so far today.While Bitcoin saw an approximate 6% spike over the past 48 hours, peaking around $28,597, it has been unable to sustain the upward push.With Bitcoin still looking bullish to start in October, what is the ...

Blog • 02 October 2023, Monday, 17:55

Crypto Losses Up 59% in Q3 From Cyberattacks

Crypto Losses Up 59% in Q3 From Cyberattacks The cryptocurrency sector has increasingly become a prime target for hackers in recent years.According to a report submitted by bug bounty and security services platform Immunefi, the Web3 space suffered a total loss worth over $685 million in Q3, 2023. This significant loss increase is particularly alarming given that losses suffered from hacks and frauds were over $428 million in Q2 this year.The recent release by Immunefi denotes a whopping 59.9% i...

Blog • 02 October 2023, Monday, 17:15

Analyst Lists 5 Reasons BTC Price Can Hit $40,000 In October, As Bitcoin Minetrix Hits $350,000

Analyst Lists 5 Reasons BTC Price Can Hit $40,000 In October, As Bitcoin Minetrix Hits $350,000 There are five reasons to be bullish on the coming quarter and year in general, pseudonymous crypto analyst @bitbitcrypto argued on Twitter on Sunday.Firstly, he cited the fact that October is usually a strong month for Bitcoin. Indeed, Bitcoin hasn’t fallen in October since 2018.That history of good price performance in October is in itself enough to encourage more buyers to enter the market this mon...

Blog • 02 October 2023, Monday, 16:50

UBS' Tokenized Money Market Fund Goes Live on Ethereum Blockchain

UBS' Tokenized Money Market Fund Goes Live on Ethereum Blockchain Leading Swiss asset management bank UBS has announced the debut of its first live pilot of a tokenized Variable Capital Company (VCC) fund on the Ethereum blockchain in Singapore. In the published press release, the company stated that the money market fund is part of a wider VCC umbrella built to integrate various real-world assets into the blockchain. The UBS pilot is part of Project Guardian, a collaborative industry initi...

Blog • 02 October 2023, Monday, 16:30

Traders Are Buying This New Staking Coin With 10x Potential - The Next Bitcoin?

Traders Are Buying This New Staking Coin With 10x Potential - The Next Bitcoin? A newly launched staking coin with big potential is making waves in the crypto space.Bitcoin Minetrix, a decentralized cloud mining platform, just launched a presale of its native $BTCMTX token.The platform is introducing an innovative new stake-to-mine mechanism - $BTCMTX owners who stake their tokens will earn mining credits.These mining credits can then be used to earn a portion of Bitcoin Minetrix’s Bitcoin minin...

Blog • 02 October 2023, Monday, 15:45

Grayscale Pursues Ethereum Spot ETF Amid ETH Futures ETF Boom

Grayscale Pursues Ethereum Spot ETF Amid ETH Futures ETF Boom Today, Grayscale Investments, a leading digital asset fund manager, submitted a filing to the U.S. Securities and Exchange Commission (SEC), to convert its Ethereum Trust into a spot Ethereum ETF. The move comes as other financial companies like Vaneck, Bitwise, and Proshares launch Ethereum Futures ETFs.A Calculated Move for Grayscale's Ethereum TrustGrayscale has formally lodged a Form 19b-4 with the SEC, looking to turn its Eth...

Blog • 02 October 2023, Monday, 15:25

SEC Rejects Coinbase's Move with Celsius; Ripple (XRP) and InQubeta (QUBE) Presale Significant Investment

SEC Rejects Coinbase's Move with Celsius; Ripple (XRP) and InQubeta (QUBE) Presale Significant Investment In a world where cryptocurrency has revolutionized the way we perceive investments, government regulations, and business partnerships play a decisive role in shaping the trajectory of top crypto coins. The crypto community was recently set abuzz when the SEC expressed objections to a key strategic move by the renowned crypto firm, Celsius. Amidst this turbulence, Ripple (XRP) and the cr...

Blog • 02 October 2023, Monday, 15:15

Biggest Crypto Gainers Today on DEXTools – BUGMAN, Xpro, PAW

Biggest Crypto Gainers Today on DEXTools – BUGMAN, Xpro, PAW After a strong Sunday rally that carried into Monday morning and saw the BTC price hit new one-month highs in the $28,600s, Bitcoin (BTC) is consolidating just under $28,000 and at lows for the day.Traders attributed Sunday’s rally to optimism about the fact that October is usually a good month for Bitcoin, and amid recent Ether (ETH) futures ETF debuts on major traditional asset exchanges.But macro remains a headwind, with US 10-year ...

Blog • 02 October 2023, Monday, 15:00

Bitfarms Mines 411 BTC in September, Increases Hashrate by 9%

Bitfarms Mines 411 BTC in September, Increases Hashrate by 9% Canadian Bitcoin (BTC) mining firm has increased its production capacity this year with eyes locked on better opportunities hinged on the upcoming BTC halving.According to an Oct. 2 press release on the firm's mining operation for September, the company increased its hashrate, capacity, and efficiency. Last month, the miner generated 411 BTC, selling 362 BTC for approximately $9.5 million bringing up its current asset holdings to ...

Blog • 02 October 2023, Monday, 14:50

Web3 Utility Coin Launchpad Raises $1.8 Million for Newcomer-Friendly Alpha Trading Signals Platform – How Does it Work?

Web3 Utility Coin Launchpad Raises $1.8 Million for Newcomer-Friendly Alpha Trading Signals Platform – How Does it Work? Cryptocurrency platform Launchpad XYZ has successfully raised $1,817,432 in its ongoing crypto presale as of today. The platform is dedicated to providing an intuitive and user-friendly experience for newcomers, with a focus on alpha trading signals.The presale is accompanied by a 15% bonus for all contributors, including those who have already participated and prospective buy...

Blog • 02 October 2023, Monday, 14:40

Mark Zuckerberg’s Vision: AI Leading the Way to the Metaverse

Mark Zuckerberg’s Vision: AI Leading the Way to the Metaverse Meta’s CEO, Mark Zuckerberg, has revealed that he remains committed to his pursuit of leadership in the fast-paced metaverse race.In a recent interview with The Verge, which was uploaded on YouTube, Zuckerberg stated that the key to establishing a strong metaverse pedigree lies in the advancements of artificial intelligence (AI) in the coming months. Providing more context, Zuckerberg explained that the virtual and augmented reality l...

Blog • 02 October 2023, Monday, 14:10

Unpublished Tweets by Sam Bankman-Fried Offer Insights into His Mental Health

Unpublished Tweets by Sam Bankman-Fried Offer Insights into His Mental Health A series of unpublished tweets belonging to FTX founder Sam Bankman-Fried have revealed insights into his mental health and prescribed medication. The unposted tweets, obtained by CoinDesk, indicate that Bankman-Fried has been discussing his mental health struggles, including mild depression and anhedonia, the inability to experience pleasure, since at least December."Things are a spectrum," Bankman-Fried wrote before ...

Blog • 02 October 2023, Monday, 13:00

Wall Street Memes Price up 45% in 7 Days, Becomes 4th Most Traded Meme Coin Behind Dogecoin, Shiba Inu and Pepe

Wall Street Memes Price up 45% in 7 Days, Becomes 4th Most Traded Meme Coin Behind Dogecoin, Shiba Inu and Pepe Monday, 2nd October 2023 – Wall Street Memes ($WSM) has come from a standing start to become the 4th-most-traded meme coin in global crypto markets.The astonishing achievement comes just six days after its first centralized exchange listing, with more listings due to be announced on Wednesday.Nearly $60 million $WSM has been traded since the token was listed on OKX on 26 September. Tha...

Blog • 02 October 2023, Monday, 11:55

Free Crypto Signals Group Crypto Whales Pumps on Fire as Subscribers Surpass 25,000

Free Crypto Signals Group Crypto Whales Pumps on Fire as Subscribers Surpass 25,000 Crypto Whale Pumps, a free-to-join group on the messaging app Telegram, continues to experience impressive growth, as crypto investors are increasingly drawn to the group thanks to its strong history of delivering highly profitable crypto trading signals.According to the group’s latest weekly update, Crypto Whale Pumps signals delivered a return on income (ROI) of 1,090% last week, with an impressive success rate...

Blog • 02 October 2023, Monday, 11:45

IMF Proposes Crypto Risk Assessment Matrix for Macrofinancial Impact on Countries

IMF Proposes Crypto Risk Assessment Matrix for Macrofinancial Impact on Countries The International Monetary Fund (IMF) published a working paper that highlights risk management strategies and policy changes for regulators.The paper titled, “Assessing Macrofinancial Risks from Crypto Assets” released on Sept 29 proposes a crypto-risk assessment matrix (C-RAM) for risk-prone nations to identify, prevent, and mitigate the effects on investors.According to the paper, a framework for accessing the m...

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