Bitcoin miners’ exchange flow reaches 7-month high as BTC price tanks below $21K
Bitcoin mining profitability has dropped by over 75% from the market top and is currently at its lowest since October 2020.
Bitcoin mining profitability has dropped by over 75% from the market top and is currently at its lowest since October 2020.
Tether expects to reduce USDT’s commercial paper backing to $8.4 billion by the end of June 2022 and eventually completely remove it.
Paul highlighted that Bitcoin has “far better odds” than other cryptocurrencies because it doesn’t have a competitor as a product.
Traders are nervous, data suggests, and a further drop could spark a chain reaction as exchange users rush to liquidate their BTC holdings.
The passing of an investment proposal brought into question a legal agreement between the organizations and the Merit Circle DAO agreed to a counterproposal that would ensure a settlement.
“We are in the process of communicating with relevant parties and fully committed to working this out” Su Zhu stated.
The proposed law won’t necessarily make crypto legal tender in the country, but it’ll at least be legally recognized financial asset for investments and other uses.
A provision in the bill gives authority over some cryptocurrencies to the Commodity Futures Trading Commission (CFTC), with the agency head saying it cares about having “rigorous oversight of markets.”
Some high-profile investors have taken the recent market downturn as an opportunity to add to their crypto positions, though others warn there’s still a risk of worse to come.
Bill Gates has slammed “expensive digital images of monkeys” while an NFT trader made a 921.12 ETH profit on a BAYC NFT overnight.