Category: Cryptocurrency News

PlanB’s floor model misses its target in a historic first as fresh bear pressure mounts for Bitcoin price action.

Griid, an Ohio-based Bitcoin self-mining company, is the latest Bitcoin miner to list on the New York Stock Exchange (NYSE). It would go public by merging with Adit EdTech Acquisition Corp at a $3.3 billion enterprise valuation. Adit EdTech, a Special Purpose Acquisition Company (SPAC), announced the merger in a filing with the United States Securities and Exchange Commission (SEC) Tuesday. The sole purpose of a SPAC is to acquire a private company and make it go public. It is also called a blank check company. Related Reading | Bitcoin Mining Firm Argo Blockchain To Raise $57.5M Via Senior Notes Offering Griid will list on the New York Stock Exchange under the ticker symbol “GRDI” after both parties close the merger, expected by the first quarter of next year. That is, subject to conditions including regulatory approvals and approval of Adit EdTech’s stockholders. Subsequently, the bitcoin mining company will receive about $246 million in cash from Adit EdTech. Another Bitcoin Mining Company Goes Public The SPAC deal comes just after Griid secured a $525 million credit facility from Blockchain.com. According to an investor presentation that Adit EdTech published recently, Griid expects to mine 637 BTC this year. By 2024, the company forecasts up to 24,348 BTC per year. Speaking on the merger, Trey Kelly, founder and CEO of Griid, said, “We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among public bitcoin miners at the lowest cost of scaled production. Our team has demonstrated a track record of successful execution over the past three years since starting the company, and we look forward to delivering expansion of capacity through this transaction.” CEO of Adit EdTech David Shrier also emphasized the importance of Carbon-free Bitcoin mining. “GRIID’s combination of a large pipeline of low-cost, carbon-free power, distinctive access to next-generation ASICs, and market-leading execution position them to generate attractive profitability and growth.” BTC trading at $56.9K | Source: BTCUSD on TradingView.com There has been a high rate of both individual and institutional Bitcoin adoption this year. Consequently, mining companies all over the world are going public via SPACs or traditional initial public offerings (IPOs). Last month, Australian Bitcoin miner Iris Energy filed to raise $100 million via a direct listing in the U.S. Earlier this month, a Singapore-based cryptocurrency miner Bitdeer Technologies announced its plan to list in the U.S. via a $4 billion deal with SPAC Blue Safari Group Acquisition Corp. Mining In The U.S. The U.S. has become the number one destination for bitcoin miners, thanks to China’s ongoing crackdown. About a year ago, China was the market leader in terms of hash rate. However, the crypto crackdown changed that story almost overnight. Majority of the miners that fled China relocated to America in what was dubbed “the great mining migration.” Related Reading | Bitcoin Mining In The U.S.: 4 States Attract The Most Miners This migration resulted in the U.S. becoming a global mining hub. And with the mining machine preorders and hash rate projections for 2022, this will not change anytime soon. Featured image by Reuters, Chart from TradingView.com

Traditional gaming is moving to the blockchain, and in more ways than one. CoinTelegraph recently reported on this, for the full deep dive check out the article here. Let’s revisit here why industry is about to explode and here is why: The gaming industry is growing, FAST. The number of gamers sits at 3.24 billion per a recent report from Statista.  With the expansion of mobile network users across Latin America and Asia over the next decade this number will only continue to grow. Blockchains make it possible for gaming economies to organically form. By adopting a Play-To-Earn model, the economy itself is wired to go viral. Blockchains can make this process more seamless. And as a plus, blockchains are borderless. Players in Turkey and Canada have no barriers to enter. Public blockchains are open to all and permissionless. Any user who has a cell phone and an internet connection is welcome to participate. The onboarding process is easy and open to all. Open protocols collapse and compress the cost of existing technologies. Public blockchains are open protocols. The Binance Smart Chain (BSC) is an open protocol. Anyone can build games on Bsc. Economic difficulties and opportunities Could Make Play-To-Earn a Real Job. With increasing inflation across the US and the world, millions are looking to start side jobs to increase their income. 4.4 million in the US alone outright quit their jobs. With increased numbers involved and gaming and entertainment, a play-to-earn economic model could attract millions into a new Metaverse-based economy. Instead of going into gaming to escape, imagine gaming for a living, or a viable side hustle. It would make participation in such an economy as organic as one could imagine. Blockchain Gaming Blockchain technology provides the most direct route to a Play-To-Earn economy that is global, inclusive and organically viral. Looking into the boom into blockchain gaming that is entering the Metaverse, let us look into a few games. Alien Worlds, is a game built on the Wax blockchain. In the game, players compete for a scarce resource, TLM, which they use to enhance their power in the game by staking and voting in a DAO. Alien Worlds had over 1.5 million players in the past 30 days, surpassing Axie Infinity as the most popular crypto-based video game in the world. TLM is also an actual cryptocurrency that has doubled in value in the past month from $0.19 to $0.38. Another up-and-coming game is CryptoMines, which is a SciFi play-to-earn NFT game where players compete to collect Workers and Spaceships to travel through the universe searching for a cryptocurrency called $ETERNAL. It has seen 229,000 users on its platform over the past 30 days. CoinFantasy In this nascent and rapidly growing gaming metaverse, CoinFantasy is securing a position as a leader in the fantasy gaming sector.  CoinFantasy has its skin in the game with its upcoming gamified fantasy crypto markets. CoinFantasy’s Play-To-Earn model allows anyone to participate. To join in users only need to take three steps: They join a contest you want to participate in. They select a basket of crypto assets they believe will increase in value. Winners earn real money as well as level up in the platform that allows them to mint NFTs & get exclusive access to Metaverse There are over 100 unique NFT player card attributes with different rarities. These NFTs will allow users to participate in crypto fantasy club events and also entitled to collectibles & in-game merchandisers GameFi, with its Play-To-Earn model and the metaverse, will continue to rise and what it can mean for the world. Can it mean a new world economy? Can it mean an opportunity for everyday people to improve their situation in life? The next two to three years of this economy will be telling and exciting, to say the least.    

Konzum, Croatia's largest supermarket chain, has just introduced an option to buy groceris with crypto in their on line stores. You can pay with Bitcoin, Ethereum, Bitcoin cash, EOS, DAI, XRP, Stellar Lumen, USDT, and USDC. Their future plan is to implement that in physical stores. This is being implemented in cooperation with croatian fintech…
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2TM, a Brazilian fintech unicorn that is the holding company of Mercado Bitcoin, one of the leading crypto exchanges on the continent, has closed its Series B funding round again, raising an additional $50 million. The funding round was led by U.S.-based 10T and Tribe Capital, with the participation of other new investors. 2TM Gets […]

India continues its flirtation with Bitcoin and other cryptocurrencies. The Indian Parliament’s winter sessions started, and, as it turns out, BTC won’t be the star of the show. In fact, the lower house of the parliament asked the Finance Minister point blanc if there was a proposal to recognize Bitcoin as currency. The answer was a resounding “no.”  According to AMB Crypto:  “While more clarity is set to emerge in this context, some reports have claimed that the Indian administration is planning to make cryptocurrencies available as an asset. Additionally, others suggest cryptos will not be accepted as legal tender. All of this information came in the form of a note. In that document, the Financial Minister also answered “whether the Government has allowed cryptocurrency exchanges as a legally permitted entity in India”: “Cryptocurrencies are unregulated in India. RBI has vide its circular dated May 31st, 2021, advised its regulated entities to continue to carry out customer due diligence processes in line with regulations governing standards for Know Your Customer (KYC), Anti-Money Laundering (AML).” So, as you can read, it’s the same old script the other countries are using. If that’s the case, what’s the cause for all the confusion? Mixed Signals Coming Out Of India NewsBTC has been on this case. Just three weeks ago, while discussing the India exchange’s remarkable growth, we said optimistically: “Discussions around regulations started to arise back then. India’s crypto exchanges and investors participated in off-the-record meetings with law enforcement agencies and banks hoping to reach a point of amicability. The expectations are for the government to classify bitcoin as an asset class and for the Securities and Exchange Board of India to regulate cryptocurrencies and bring clarity, closing the doors to another ban.” However, just a week ago, we reported that the Reserve Bank of India “is set to launch its CBDC by December.” And what was that news seasoned with? A ban, of course: “A bill was recently presented, and sets to shake things up for many of big name coins in India. The ‘Cryptocurrency and Regulation of Official Digital Currency’ bill will create a facilitative framework for an official digital currency to be issued by the Reserve Bank of India, and that will look to ban all private cryptocurrencies, which includes Bitcoin and Ethereum.” It was a fair conclusion, considering. In early 2018, the Reserve Bank of India banned the buying and selling of cryptocurrencies by entities under the RBI’s jurisdiction. BTC price chart on BinanceUS | Source: BTC/USD on TradingView.com What’s The Indian Parliament’s Current Position? The headlines from the recent session with the Financial Minister are those two. There’s no proposal to recognize Bitcoin as currency and the government doesn’t collect Bitcoin transaction data. Fortunately for them, the blockchain is an immutable ledger. They don’t have to collect a thing, it’s all there. #Parliamentwintersession | FM In ParliamentNo proposal to recognise Bitcoin as a currency Here's more#cryptocurrency #Bitcoin pic.twitter.com/DYXGTobDQ3 — CNBC-TV18 (@CNBCTV18Live) November 29, 2021 In any case, AMBcrypto sees it as: “A crucial piece of information, especially since some bodies associated with the ruling party had called for central regulation of crypto. For instance, Swadeshi Jagaran Manch’s (SJM) Co-convenor Ashwani Mahajan had suggested that crypto-data around mining and transactions be stored only on domestic servers.” Reporting on the same session, Asian News International saw another angle. “This is a risky area & not in a complete regulatory framework. No decision was taken on banning its advertisements.” This is a risky area & not in a complete regulatory framework. No decision was taken on banning its advertisements. Steps are taken to create awareness through RBI&SEBI. Govt will soon introduce a Bill: FM Nirmala Sitharaman on Cryptocurrency during Question Hour in Rajya Sabha pic.twitter.com/WwopPdBQHg — ANI (@ANI) November 30, 2021 In another stage, former Finance Secretary Subhash Garg cleared things up. He created the bill that seemed to aim to ban all cryptocurrencies in India. Cointelegraph reports: “In an interview with local news channel News 18, Garg clarified: “[The description of the crypto bill] was perhaps a mistake. It is misleading to say that private cryptocurrencies will be banned and to intimate the government about the same.” So, by “private cryptocurrencies” he didn’t mean Bitcoin or Ethereum, which have public blockchains. Got it. Still, India’s confusion about cryptocurrencies is the main topic here. They don’t seem to know what to do about those pesky coins over there. Featured Image: Darshak12Pandya on Pixabay | Charts by TradingView

Crypto.com aims to offer derivatives and futures products to its U.S. customers with the acquisition of Nadex and the Small Exchange.

And we think the rules are going to be something like this! If anyone wants to use them for their friend group, you are definitely more than welcome to! Maximum spend of $50AUD Only allowed to purchase ONE coin, HOWEVER it has to be outside of the top 100 Purchase period is from 01/12 –…
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No wonder most of the politicians associate Crypto with illegal business, even though this year only 0.34% of total BTC transactions have anything to do with illegal businesses. Because they haven't understood the internet yet,even after years, Here : https://np.reddit.com/r/facepalm/comments/r5tuo2/they_still_dont_understand_internet/?utm_medium=android_app&utm_source=share And most of us are hopeful the politicians will do the right thing and not…
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