Search Results for: Environmental

Brad Garlinghouse Stated that Ripple does not Lag behind Bitcoin's Energy Usage FUD

Since last week, Elon Musk announced on Twitter that Tesla would no longer accept bitcoin as a payment method because of its energy consumption issues. After his statement, Bitcoin (BTC) and other digital currencies fell sharply, which aroused public concern about the environmental degradation of cryptocurrencies. Bitcoin once fell to $30K on May 19, and … Continue reading Brad Garlinghouse Stated that Ripple does not Lag behind Bitcoin's Energy Usage FUD

China’s Crypto Mining Clampdown Sparked by Illegal Coal Extraction

An increase in illegal coal extraction prompted China’s latest crackdown on cryptocurrency mining. As a result, President Xi Jinping’s administration forced them to crack the whip because these illicit activities endangered people’s lives and undermined the government’s ambitious environmental objectives. Rising demand for coal in China As per the announcement: “Authorities decided to act after … Continue reading China’s Crypto Mining Clampdown Sparked by Illegal Coal Extraction

Ethereum-backed DeFi Records Healthy Activities Amid Crypto Market Crash: Glassnode

The global cryptocurrency market capitalization was still down by $1.7 trillion after dropping from a high of about $2.6 trillion a few weeks ago. The market’s decline was attributed to some unfavourable narratives contributed, including an environmentally unfriendly mining process. While Bitcoin (BTC) shed off a significant part of its valuation, a recent Glassnode report … Continue reading Ethereum-backed DeFi Records Healthy Activities Amid Crypto Market Crash: Glassnode

Michael Saylor Defends BTC Mining Council Embraces Decentralization

Michael Saylor, Bitcoin bull and MicroStrategy CEO, defended Tuesday the newly established Bitcoin mining council against criticisms that it runs to counter the decentralized nature of Bitcoin.   The news regarding the establishment of the Bitcoin mining council recently caused uproar and encountered criticism. Crypto critics were quick to point out that the formation of such … Continue reading Michael Saylor Defends BTC Mining Council Embraces Decentralization

Analyst Believes Capital Flocks to Ethereum’s DeFi Sector

Following the recent market crash, Ethereum (ETH) slumped from an all-time high (ATH) of $4,350 to lows of $2,000.  ETH, however, regained some momentum, and the edge was closer to the psychological price of $3,000. Market analyst Lark Davis noted that big money flow was piling in Ethereum’s decentralized finance (DeFi) sector, and this was … Continue reading Analyst Believes Capital Flocks to Ethereum’s DeFi Sector

Why Cryptocurrency Massive Energy Consumption Is Extravagant?

Do you know that bitcoin mining consumes around 128.77 terawatt-hours(TWh) a year? And is it likely to fall unless the value of currency collapses? Mining for cryptocurrency consumes a massive amount of power with heavy computers and machines, leaving a destructive impact all over the globe. Mining is the process that involves transaction verification on … Continue reading Why Cryptocurrency Massive Energy Consumption Is Extravagant?

Bitcoin Miners from Inner Mongolia and Sichuan Are Selling BTC Mining Tools

Bitcoin miners from the Chinese regions of Inner Mongolia, Sichuan, and others are beginning to sell off their mining hardware to not step into the red line of the law. According to Wu Blockchain- the Chinese journalist’s post on Twitter last Saturday, there were numbers of crypto mining gears listed for sale on the trading site Xianyu, which is … Continue reading Bitcoin Miners from Inner Mongolia and Sichuan Are Selling BTC Mining Tools

Chinese Robinhood Futu & Tiger Brokers To Expand Crypto Trading Abroad

Two Chinese online brokerages reportedly intend to expand their business into the cryptocurrency trading market abroad against their rival stock competitors app, such as Robinhood in the U.S. In a CNBC’s report on Monday, two trading platforms, Shenzhen-based Futu and Beijing-based Tiger Brokers are applying for licenses in Singapore and the U.S. They allow them … Continue reading Chinese Robinhood Futu & Tiger Brokers To Expand Crypto Trading Abroad

Irish MEP Calls for Tightened Rules on Crypto Assets

Chris MacManus, an Irish Member of the European Parliament from Sinn Féin Midland Northwest, has submitted 45 amendments to the European Union for regulating digital currencies. MacManus, the Spokesperson on digital finance for the Left in the European Parliament, said his proposals would fundamentally bring consumer protection and financial stability to the new EU rules. The … Continue reading Irish MEP Calls for Tightened Rules on Crypto Assets

China's Hainan Province Cautions Citizens Against Illegal Crypto Trading

China’s Hainan Province has issued a new warning to its residents as the broader effort of the Asian country to clamp down on digital currency activities. According to a Reuters report, citing local media sources, Hainan officials warn people particularly against illegal fundraising schemes involving cryptocurrency and blockchain such as Initial Coin Offerings. The officials, including those … Continue reading China's Hainan Province Cautions Citizens Against Illegal Crypto Trading

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