Hong Kong’s Crypto Initiatives Spark Optimism for East Asia’s Cryptocurrency Scene
Recent developments in Hong Kong are poised to breathe new life into the cryptocurrency scene in East Asia. This region has faced significant challenges, primarily due to China's comprehensive ban on cryptocurrency trading activities that have been in place since 2019. However, the tide may be turni ...
Canaan Halves Hashrate Following Shutdown of Centers in Kazakhstan
Canaan has halved its hashrate. This follows the shutdown of the firm's centers in Kazakhstan. The counterparty is forced to do so due to regulatory restrictions. In July 2023, bitcoin miner Canaan cut its production capacity in Kazakhstan by 2 EH/s. ...
Coinbase Suspends Trading of USDT, DAI, and RAI in Canada
The exchange cited the regulatory climate as the reason. USDT and algorithmic stablecoins fall under a ban in Canada from 2021-2022. Cryptocurrency exchange Coinbase said it will suspend trading of USDT, DAI and RAI in Canada. This was reported by Cointelegraph, ...
Beijing Aims to Become Global Innovation Center for Web3 Industry
The city wants to become a global innovation center for the digital economy The city will spend $14 million a year to achieve this goal; May 27, the city of Beijing released a whitepaper that aims to promote innovation and the development of the Web3 industry. ...
Berenberg Bank Analysts Predict Bitcoin Value Growth Due to Future Halving
Analysts at Germany's oldest bank, Berenberg Bank, said that future halving, as well as a combination of circumstances, evolution and time, will be a springboard for bitcoin value growth. In support of their conclusions about the possible growth of the market value of the ...
Top Challenges for Bitcoin Miners in 2023: When to Expect an Increase in Profitability?
As bitcoin continues to dominate the cryptocurrency market, miners face a number of challenges that could affect their profitability in 2023. Despite optimistic forecasts for the first cryptocurrency, miners have faced serious obstacles in recent years. The "growth at any cost" strategy, which in ...