Study Reveals Fossil Fuels Still Power 62% of Bitcoin Mining

Per a report from the Cambridge Center for Alternative Finance (CCAF), fossil fuels have been the primary energy source for BTC mining since the start of the year. The CCAF recently updated its Cambridge Bitcoin Electricity Consumption Index (CBECI).  Its study claims that 62% of all the energy the leading token has consumed so far consists of coal-based energy. BTC’s Energy-Intensive Mining Bitcoin employs the proof-of-work consensus mechanism to create new tokens and validate transactions on the blockchain. The PoW…

Strike Close $80 Million Funding Round to Further Expand Bitcoin Payments 

Strike – a Bitcoin payments company and digital wallet provider – has closed an $80 million funding round led by Ten31.  The funds will bolster the company’s efforts to “revolutionize payments” for the payment industry’s biggest players.  According to a press release, both Washington University in St. Louis and the University of Wyoming also partook in the raise.  The funding leader, Ten31, is a Bitcoin and lightning infrastructure provider that’s invested in numerous other Bitcoin native companies like Blockware, Swan,…

Nexo Receives Cease and Desist Order From California Regulators

The crypto lending platform Nexo has been ordered by several California securities regulators to halt its crypto yield product. The state claims that the company’s interest-bearing accounts qualify as unregistered securities that require proper disclosures and legal protections. The California Department of Financial Protection and Innovation (DFPI) announced the enforcement action on Monday. The Department said its action was part of a larger investigation of companies offering crypto interest accounts.” The DFPI has undertaken aggressive enforcement efforts against unregistered interest-bearing cryptocurrency…

Hacker Carts $1M in Another Vanity Address Breach

Amidst a rise in DeFi breaches, yet another address from Ethereum vanity wallet address generator Profanity has fallen victim to an attack. A malicious actor was able to exploit a vulnerability in the tool and make off with almost $1M worth of ETH. This comes roughly a week after DEX aggregator 1Inch spotted and highlighted the weakness in Profanity-generated addresses.  Hacker Steals 732 ETH Blockchain security company Peckshield called attention to the latest attack early on Monday. The firm published…

Bitcoin Was Almost “Netcoin”, Domain Data Reveals

According to historical records detailing domain purchases under professional anonymity provider AnonymousSpeech, Bitcoin could have been Netcoin instead.  Nakamoto May Have Been Torn Between 2 Names The data revealed that on August 17, 2008, a day before Satoshi Nakamoto created Bitcoin.org, Netcoin.org came into existence. AnonymousSpeech is a Japanese service that allows users to purchase domain names anonymously. Twitter user @Orweinberger made a post on Friday to reveal the new findings. They reportedly discovered the information while going through all…

MicroStrategy is Building Enterprise Grade Lightning Network Wallets

The Bitcoin bullish software company MicroStrategy is building Bitcoin lightning network wallets that can be deployed to enterprises.  The company’s executive chairman and former CEO Michael Saylor shared details on the tech in a recent interview. In an uncharacteristic fashion, he also offered some short/medium-term price predictions for Bitcoin. MicroStrategy Builds on Lightning As Saylor told MarketWatch in an interview on Wednesday, the company’s wallet software will let business owners distribute Bitcoin to thousands of employees in a single afternoon. …

Russia Legalizes Crypto for Cross-border Payments 

In a release on Thursday, a Russian news outlet revealed that the nation’s authorities have given the green light to crypto cross-border settlements. Beneath a new bill from the relevant entities, Russia will grant people access to crypto wallets. Central Bank Agrees on a Proposal for Cross-border Settlements The Bank of Russia and the Russian Ministry of Finance have agreed to let residents use digital assets for cross-border payments. Deputy Minister of Finance Alexei Moiseev claims both entities joined forces…

JP Morgan CEO Calls Bitcoin a Decentralized Ponzi Scheme

Jamie Dimon – CEO of JP Morgan Chase – had more unkind words for the digital asset market on Wednesday.  The bank executive called cryptocurrencies such as Bitcoin “decentralized ponzi schemes,” and suggested that they aren’t currencies at all.  Banker VS Bitcoin During congressional testimony, the CEO reiterated his historically anti-crypto stance after it was mentioned by a lawmaker.  “I’m a major skeptic on crypto tokens, which you call currency, like Bitcoin,” said Dimon. “They are decentralized Ponzi schemes.” [caption…

Kraken CEO Jesse Powell to Step Down

Kraken co-founder CEO Jesse Powell is set to exit his position as CEO of the major exchange platform. Amid speculation that various controversies have prompted the move, Powell claims this decision has been in talks for over a year.  Powell Is Not Leaving Kraken Entirely The avid crypto advocate shared that he plans to remain active within the crypto platform. Powell will step into a new role as the company’s first chairman of the board. He reportedly intends to shift…

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