White House Condemns Energy Use Of Mining Bitcoin – Bitcoin Magazine

Per President Biden’s executive order, the White House Office of Science and Technology submitted its report on bitcoin mining’s climate impact. The report alludes to possible executive orders and legislation from congress to “limit” or “eliminate” proof-of-work mining. Some of the cited resources have been criticized for biases to certain industries and spreading misinformation. The … Read more

Mixed Signals – Kraken Blog

Over the last few months, the crypto industry faced numerous headwinds. These included the death spiral of the Terra ecosystem, the insolvency of over-leveraged hedge fund Three Arrows Capital, and major crypto lending platforms – like Celsius, BlockFi, Voyager and Vauld – taking drastic measures to accommodate “extreme market conditions.” Due to these developments, market … Read more

Bloomberg Analyst: Bitcoin Is A ‘Wild Card’ Set To Outperform – Bitcoin Magazine

Senior commodity analyst for Bloomberg expects bitcoin to bottom around $20,000. The Bloomberg Crypto Outlook Report explains changes in the Fed’s tight monetary policy can result in rising prices for bitcoin. The report cites bitcoin’s dwindling supply as the reason for its likely increase in value over time. Mike McGlone, a senior commodity strategist at … Read more

GameStop Announces Partnership with FTX US

GameStop, the world’s largest video game retailer headquartered in Texas, USA, announced that it has entered into a partnership with FTX US (“FTX”) to become FTX’s preferred retail partner in the United States. The partnership aims to promote “FTX’s digital asset community and marketplace” and bring more GameStop customers into FTX’s ecosystem. In addition to … Read more

BNB Chain Launches Zero-Knowledge Proof Scaling Tech

BNB Chain has launched a zero-knowledge proof scaling technology, zkBNB. According to Ethereum co-founder Vitalik Buterin, the zero-knowledge proof is an option for long-term solutions for decentralised blockchain scalability. The zero-knowledge proofs utilise mathematical proofs to allow the verification of specific data without the requirement to reveal the details. BNB Chain is a part of … Read more

Ethereum’s Speculative Action Goes through the Roof as the Merge Edges Closer

Since the merge of Ethereum (ETH) has been awaited with bated breath by the crypto community, the network’s speculative action has skyrocketed. Market insight provider Glassnode explained: “Ethereum speculative action continues, with over $6.12B in outstanding Open Interest for Call Options. Put options account for a much smaller $1.5B, making for a Put/Call Ratio … Read more

Digital Wallet Omni Raises $11m in Seed Funding

Digital wallet Omni (formerly known as Steakwallet) announced it has raised $11 million in seed funding on Wednesday at a $50 million valuation. The deal closed in May, according to a statement. Other investors include Spartan Group, GSR Ventures, and Eden Block, as well as OP Crypto, Shima Capital, Kosmos Ventures, Daedalus Angels, PrimeBlock Ventures, and … Read more

Ark Invest Expands Research Arm, Focusing on Blockchain Technology and AI

Ark Investment Management LLC, owned by Cathie Wood, escalated its team. The investment management firm plans to expand its research arm as it seeks deeper development in various fields, including blockchain. Cathy Wood’s ARK Investment Management has promoted Brett Winton to chief futurist, put four senior research analysts on board, and hired five research assistants, … Read more