Monthly Archives: December 2021

Bitcoin Miner Riot Blockchain Buys Electrical Supplier ESS Metron For $50 Million

The electrical equipment provider is key to Riot’s bitcoin mining operations and will enable timely installation of miners after the transaction. Riot Blockchain has bought the electrical equipment provider ESS Metron. The deal is valued at $50 million, paid in 715,413 Riot common stock shares and $25 million in cash. Denver-based ESS Metron is a crucial supplier to Riot’s Whinstone, Texas, facility. Bitcoin miner Riot Blockchain has acquired electrical equipment solutions provider ESS Metron, according to a press release published Wednesday. The transaction is valued at about […]

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Jack Dorsey Is Now Focused On ‘Making Bitcoin More Than An Investment’

The billionaire’s bitcoin funding initiative Square Crypto has rebranded to Spiral and is aimed at “making bitcoin the planet’s preferred currency.” Payments giant Square will change its corporate name to Block Inc., the company said in a statement Wednesday. Square Crypto, its subsidiary focused on funding Bitcoin development, is now called Spiral. The name alludes to Spiral’s focus, Bitcoin, as it continues to grow “like a spiral from a single point, encompassing more and more space until it touches everything,” Square tweeted. “Once Square decided to rebrand, […]

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COC#7: The Bitcoin Market Hangs Between Hope And Fear

How the Mt. Gox rehab plan and Omicron emergence act as a sword of Damocles above otherwise splendid on-chain supply dynamics. December 1, 2021 Cycling On-Chain is a monthly column that uses on-chain and price-related data to better understand recent bitcoin market movements and estimate where we are in the cycle. This seventh edition first addresses several on-chain and derivatives-related metrics to gauge the current bitcoin market structure. Then, it discusses two developing narratives that are introducing some fear into the market: the Mt. Gox rehab plan […]

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BREAKING: Square rebrands to Block as focus shifts to blockchain

“Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy,” said Jack Dorsey. Digital payments company Square announced that it has changed its company name to Block, seemingly in a shift towards blockchain technology. In a Wednesday tweet, Square said the rebrand will bring the payments firm together with Cash App, the decentralized Bitcoin (BTC) exchange project tbDEX, and music and video streaming […]

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SEC Chairman Gary Gensler: Bitcoin Competes With The U.S. Banking System

Gary Gensler said on Wednesday that Bitcoin was created “as a reaction” to the U.S. monetary system and its worldwide consensus. Bitcoin is an “off-the-grid” alternative to the traditional financial system, SEC Chairman Gary Gensler said. Gensler joined former SEC chairman Jay Clayton on Wednesday to talk about Bitcoin, cryptocurrency, and ETFs. Issuers should “come within the investor protection remit” to launch a spot BTC ETF in the U.S., Gensler said. Bitcoin is a competitor to the U.S. banking system and its worldwide consensus, the Securities and […]

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The Invisible Incentives Of Bitcoin

When examining why people acquire bitcoin, we find different incentives, more based on preservation of the network than “getting rich.” What incentives does Bitcoin offer? Money accumulation, or is there any greater purpose and incentive for miners securing the network? Mining is a most important process of the Bitcoin network, yet relatively few actually understand it. I recently had the pleasure of speaking with Marty Bent, the laid-back Philadelphian with a penchant for Bitcoin mining and founder of Tales From The Crypt podcast. We talked about my […]

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Polygon’s expanding ecosystem backs MATIC’s rise toward a new all-time high

Strong fundamentals and the steady growth of the Polygon network are just a few of the factors behind MATIC’s recent rally above $2.00. Layer-two (L2) solutions for the Ethereum network have become a popular topic of discussion and speculation on their associated tokens backed the massive rally seen in many of the protocols this year. The parabolic growth of the decentralized finance (DeFi) and nonfungible token (NFT) sector also led to a surge in the cost carrying out simple transfers and this prompted developers and investors to […]

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Biden is considering law professor, Fed president, and former CFPB director to fill 3 seats on Federal Reserve: report

Fed governor Randal Quarles resigned his position effective as of the end of December, while Richard Clarida is expected to leave in January 2022, leaving three vacancies in the group of seven serving at the Federal Reserve. The White House has reportedly begun interviews for possible candidates to fill the empty seats on the Board of Governors of the Federal Reserve System in 2022.  According to a Wednesday report from Bloomberg citing people familiar with the matter, U.S. President Joe Biden is considering qualified candidates including Federal […]

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$7.5 Million NFT Collection Accused of Using Art Without Permission Threatened by Legal Action

While non-fungible token (NFT) assets have been extremely popular in 2021, there’s been a slew of issues tied to the ecosystem as well. A recent report indicates that roughly a dozen artists are considering taking legal action against an NFT collection called “Art Wars” because their original artwork was sold as NFTs without their consent. NFT Collection Targeted Over Using Artwork Without Permission From the Original Artists Non-fungible token (NFT) assets have seen billions of dollars in sales this year, and the term “NFT” was just recently […]

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Price analysis 12/1: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, SHIB

Bitcoin continues to encounter resistance near $60,000, but this hasn’t stopped altcoins from advancing on their previous all-time highs. Bitcoin (BTC) finished the month of November with a decline of about 7%. This was in sharp contrast to the prediction of the “worst-case scenario” of $98,000 by PlanB, the creator of the popular stock-to-flow model. Although the analyst described it as a “big miss”, he said he would give the Floor model one more month. In its latest “Week On-Chain” report, Glassnode analysts said that Bitcoin’s correction […]

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