Monthly Archives: November 2021

China’s Real Estate Giant Evergrande Narrowly Dodges Default for Third Time in 30 Days

In mid-September China’s Evergrande Group, the country’s second-largest property developer by sales, sparked fear in the global economy as the company’s market valuation plummeted to an 11-year low. Global economists have warned that if Evergrande defaults on its debts, it could start a credit contagion similar to the Lehman Brothers bankruptcy in 2007. So far, Evergrande has managed to dodge default on its loans three times in the past month, but Evergrande bondholder Deutsche Marktscreening Agentur (DMSA) seems to be preparing to file for bankruptcy against the […]

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Bitfarms Enters US Bitcoin Mining Market With 24 MW Hydropower Farm

The bitcoin miner acquired its first property on American soil in a bid to reduce operating costs and increase margins. Bitfarms has acquired its first U.S. property, a 24 MW farm that kickstarts its presence in the American bitcoin mining market. “We prioritize locations with cost-effective electricity that allow for further growth and expansion,” its CEO said. In October, the miner started constructing a 210 MW farm in Argentina and two facilities in Canada. Canada-based bitcoin mining company Bitfarms has entered the American market by acquiring a […]

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Taproot Is Coming To Bitcoin: How It Works, Its History And Implications

Taproot and Schnorr signatures are going live at block 709,632. Here’s what you need to know about what this means for Bitcoin. Taproot and Schnorr signatures are going live on Bitcoin at block 709,632. This is going to be a massive foundational achievement to continue building on into the future. It’s been four years since Segregated Witness went live on the network, our last major protocol upgrade. That’s as long as a halvening cycle! Think about that. Four years from SegWit going live to Taproot going live. […]

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US Congress plans ‘demystifying crypto’ committee hearing for Nov. 17

Representative Don Beyer — who has previously proposed legislation expanding the regulatory and legal framework for digital assets in the U.S. — will be chairing the hearing. The Joint Economic Committee, which includes Republican and Democratic members of both the U.S. House of Representatives and Senate, will be holding a hearing on the role of government concerning crypto. According to the Joint Economic Committee’s, or JEC’s schedule for next week, congressional members will be listening to industry experts speak at a hearing called “Demystifying Crypto: Digital Assets […]

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Subsquid building decentralized indexing technology with new $3.8M funding

The company aims to develop a decentralized data query system following new funding. Subsquid, a query node framework for Substrate-based blockchains, announced Thursday that it has closed a $3.8-million seed round led by Hypersphere Ventures. The company said that it expects to use this seed capital for developing the first blockchain indexing solution. The new data query technology, as per the announcement, will tap into a network of indexers and allow anyone to join and contribute data to Subsquid data users. While commenting on the successful seed […]

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Indonesia’s Islamic Authority Declares Cryptocurrency Haram, Forbidden for Muslims

Indonesia’s top Islamic body, the country’s authority on Shariah compliance, has reportedly declared cryptocurrency haram, forbidden for Muslims under Islamic law. The Indonesian Ulema Council explained that crypto has elements of uncertainty, wagering, and harm. Cryptocurrency Is Forbidden for Muslims Under Islamic Law in Indonesia Indonesia’s Ulema Council (Majelis Ulama Indonesia or MUI), the country’s top Islamic body that holds the authority on Shariah compliance, has reportedly declared the use of crypto as a currency haram, forbidden under Islamic law for Muslims. Asrorun Niam Sholeh, head of […]

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How to spot a rug pull in DeFi, 6 tips by Cointelegraph

Cointelegraph shares six tips on how to safely invest in Defi projects in our latest in-depth video. In our latest in-depth video, Cointelegraph shares six key tips on how to increase your safety when investing in DeFi by identifying rug pulls — One of the most widespread types of crypto scams.  Booming growth coupled with a lack of oversight by traditional authorities has attracted an influx of fraudsters to the DeFi ecosystem. According to a recent report by Ciphertrace, while overall fraudulent activity in crypto is decreasing, rug […]

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Crypto kids fight Facebook for the soul of the Metaverse

With Facebook and Microsoft engaged in a virtual land grab, is there still a future for the dream of a Metaverse thats owned and built by the community? A dinosaur walks into a bar, orders a whiskey neat and sits down with a pink elephant and a purple, hard-to-place obscure anime character. They watch a live NBA game. A good time is had by all. This is no joke. For one major crypto fund manager referred to as Simon, who prefers to remain anonymous (and not offer […]

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Russian Duma creates working group to tackle crypto mining regulations

Some regulators feel that a lack of clear laws for the industry is helping crypto miners avoid paying taxes. The Russian State Duma has created a working group that will tackle the complicated issue of forming regulations for the cryptocurrency mining industry. According to an official announcement on Nov. 11, State Duma Chairman Vyacheslav Volodin instructed the legislature to create a group that will address regulatory gaps in the industry. The group was formed following a statement by Andrei Lugovoy, the First Deputy of the Representative Committee […]

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Presearch integrates OpenSea NFT search feature

The decentralized search engine has been working in tandem with NFT pioneer OpenSea to implement an array of API data points on its platform. Decentralized, privacy-centric search engine Presearch has announced a partnership agreement with leading nonfungible token (NFT) marketplace OpenSea to foster the growth of the Web 3.0 ecosystem for the global commons. The Presearch network is powered by a community of node operators and supporters who are rewarded in Ethereum-based PRE tokens for enhancing the network’s activity.  According to analysis detailed in the company’s release, […]

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