This is an opinion editorial by Ruda Pellini co-founder and president of Arthur Mining, an ESG-focused bitcoin mining company. I recently saw an article that cited the level of leverage and debt of the world’s leading Bitcoin mining companies. Since they are listed companies, it is easy to find their financial statements and prove the obvious: this is a counter-cyclical business that requires a lot of efficiency and professional management. For those who are still wondering what mining is,… Source link

Bitcoin (BTC) broke below $16,800 on Dec. 16, reaching its lowest level in more than two weeks. More importantly, the movement was a complete turnaround from the momentary excitement that had led to it $18,370 peak on Dec. 14. Curiously, Bitcoin dropped 3.8% in seven days, compared to the S&P 500 Index’s 3.5% decline in the same period. So from one side, Bitcoin bulls have some comfort in knowing that correlation played a key role. At the same time, however, it got $206 million of BTC… Source link

In early reports, EY said that Cotten, as the sole proprietor of Quadriga in its waning days, was the only person who could access its funds. Investigators claimed that Cotten did not maintain clear records, part of why the effort to recover customer funds is dragging into a fourth year. Source link

Bitcoin (BTC) broke below $16,800 on Dec. 16, reaching its lowest level in more than two weeks. More importantly, the movement was a complete turnaround from the momentary excitement that had led to the $18,370 peak on Dec. 14. Curiously, Bitcoin dropped 3.8% in seven days, compared to the S&P 500 Index’s 3.5% decline in the same period. So from one side, Bitcoin bulls have some comfort in knowing that correlation played a key role; at the same time, however, it got $206 million of BTC futures… Source link

Outside of a “black swan” event specific to a centralized crypto entity, BTC’s price remains largely tethered to the Federal Reserve’s monetary policy decisions. Now that the Sam Bankman-Fried news is beginning to subside, Fed Chair Jerome Powell is reemerging as crypto’s primary antagonist, even if unintentionally so. Source link

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Funds have also not yet been recovered from the Wormhole bridge attack in February. This bridge, which connects Ethereum, Solana, Avalanche and other blockchain networks, was not the first to be attacked, but it might be the most notable. Somehow an attacker was able to mint 120,000 wrapped ether, or wETH, without having to put up any collateral. They then converted that free wETH into regular ETH and SOL, netting themselves $320 million. While these funds have not been recovered, Jump… Source link

Chainalysis is a blockchain data platform. We provide data, software, services, and research to government agencies, web3 companies, financial institutions, and insurance and cybersecurity companies. Our data powers investigation, compliance, and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com. Source link

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their… Source link

Crypto firm ConsenSys is announcing a new partnership with payments giant PayPal to create a convenient way for investors to purchase Ethereum (ETH). According to a recent company announcement, MetaMask, the popular crypto wallet developed by the Ethereum software company, will integrate PayPal into its platform to provide investors in the US with an easy way to buy the leading smart contract platform. “Today, ConsenSys, a market-leading Web3 company, announced that US MetaMask… Source link