Crypto | Bitcoin | Blockchain

2022-12-20 08:49:02 Bitcoin mining jumps 3.27% after substantial dip

Bitcoin mining difficulty in October had its highest spike since last summer, when China cracked down on the industry and forced mining firms to flee to other countries. Meanwhile, its lowest ebb since then was just a few days ago.

A probable explanation is the switching on and off of machines depending on spot energy prices and profitability, with more efficient models also being deployed. But it also might be a case of luck, said Daniel Frumkin, director of research at Braiins. The difficulty adjustments are based on what is the average block time for that epoch.

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2022-12-19 05:15:01 Mad Money's Jim Cramer: I Trust My Money More in Draftkings Than I Would Binance

The host of Mad Money, Jim Cramer, has cast doubt on the trustworthiness of crypto exchange Binance. “Why can’t people in charge just admit that Binance has no real legitimacy after what happened to FTX?”.

The crypto exchange founded by Sam Bankman-Fried (SBF) filed for Chapter 11 bankruptcy on Nov. 11, and an estimated one million customers and investors lost billions of dollars from its collapse. Bankman-Fried has been arrested in the Bahamas and the U.S. government and several regulators have brought fraud charges against SBF and the crypto exchange.

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2022-12-18 07:09:02 60% of Americans Believe Crypto Investing is Highly Risky (Survey)

CNBC’s “Your Money Survey” estimated that 60% of the American participants consider the risk of investing in cryptocurrencies to be high. Just 5% of the respondents believe it is entirely safe to allocate some wealth to the asset class.

The decline of the cryptocurrency market, as well as the various adverse events in the sector, have had an impact on the sentiment among many Americans. CNBC’s latest research found out that 60% of the US respondents think of crypto investing as highly risky, while this figure was 45% in August 2021. 26% think delving into bitcoin and alternative coins hides a “moderate” risk, while only 5% consider it to be totally safe.

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2022-12-17 08:54:02 Mazars to pause all crypto exchange proof-of-reserves reports

Accounting firm Mazars is temporarily ceasing all work for its crypto exchange clients, including proof-of-reserves reports for the likes of Binance, KuCoin and Crypto.com. A Binance spokesperson says Mazars has stopped working with crypto clients.

Mazars has been working with crypto exchanges to publish proof-of-reserves reports since last month's collapse of FTX. These reports show the platform’s crypto holdings as a means of proving whether their reserves are adequately collateralized. While exchanges say these reports help to improve transparency, critics say it is not enough as they do not provide details about a platform's liabilities.

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2022-12-16 07:07:02 CFPB not planning crypto crackdown, says Bureau Director Chopra

The Consumer Financial Protection Bureau is not planning an immediate crypto crackdown, its director said today, while choosing his words carefully.“Crypto is not a product. Certain electronic consumer transactions are,” CFPB Director Rohit Chopra told The Block after an hours-long congressional hearing.

Digital asset policy came up frequently during a regular appearance by Chopra before the House Financial Services Committee, including further prodding around whether a recently published consumer alert bulletin related to crypto meant the bureau would step up enforcement on crypto companies. which led to the company’s announcement that it would gradually leave the U.S.

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2022-12-15 07:09:02 15% of US citizens made crypto transactions as of mid-2022

JP Morgan’s recent report revealed that almost 15% of individuals in the U.S. have issued transfers into crypto accounts, according to numbers from mid-2022. The detailed demographic data. The detailed demographic data also indicates that Men, Asians, and higher-income youth have the highest.

According to the numbers, the Millennials have the highest crypto adoption, with 20%. Generation X and Baby Boomers follow the Millenials as the second and third, with 11% and 4%, respectively.The racial statistics are focused only on the millennials since they constitute the majority of crypto users in the sample.

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2022-12-14 07:08:02 Waters 'disappointed' Bankman-Fried will no longer testify before Congress

House Financial Services Committee Chair Maxine Waters, D-Calif., says she’s “disappointed” and “surprised” at the timing of Sam Bankman-Fried’s arrest, due to his scheduled appearance before her committee tomorrow.

Although Mr. Bankman-Fried must be held accountable, the American public deserves to hear directly from Mr. Bankman-Fried about the actions that’ve harmed over one million people, and wiped out the hard-earned life savings of so many,” the statement from Waters continued. “The public has been waiting eagerly to get these answers under oath before Congress.

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2022-12-12 08:10:02 FTX Japan Has Until March 2023 to Cease All Operations

The Kanto Local Finance Bureau will supposedly halt FTX Japan’s activities on March 9, 2023. The Japanese authorities reportedly extended the business suspension order to FTX Japan until March 9, 2023.Initially, the company had to cease all services on December 9.

According to recent coverage, the Kanto Local Finance Bureau will grant FTX Japan three more months before halting all its activities. The authorities further claimed that FTX Japan’s trading system continues to be out of order. The Japanese subsidiary of the bankrupt exchange vowed to resume customer withdrawals by the end of 2022 by developing new infrastructure.

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2022-12-11 06:48:02 SEC Urges Firms to Disclose Crypto Exposure in New Letter

The Securities and Exchange Commission (SEC) has unveiled new guidelines for companies making financial disclosures, which call on them to provide a more detailed record of their exposure to the crypto industry in the wake of recent market chaos.

The letter also includes guidelines on exposure to third-party crypto market participants, risks related to firms’ liquidity, their ability to obtain financing, as well as risks relating to “legal proceedings, investigations, or regulatory impacts” within the crypto markets.SEC is now asking firms about any relevant exposure to the chaotic crypto industry.

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2022-12-10 05:54:02 Bankman-Fried rejects claims that Alameda crashed luna to sink 3AC

Terraform Labs CEO Do Kwon and the co-founders of crypto hedge fund Three Arrows Capital have alleged that Alameda Research kickstarted the demise of luna. telling Three Arrows Capital to focus on its own problems.

One of the biggest claims is that crypto trading firm Alameda Research — the sister firm to FTX — deliberately crashed the cryptocurrency luna and its sister token TerraUSD in order to bring down Three Arrows Capital (3AC). It’s an allegation that has sparked a market manipulation inquiry by U.S. prosecutors. the founders of collapsed crypto hedge fund Three Arrows Capital.

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