The Case For Union Workers In Bitcoin Mining

Recently in the news, a Pennsylvania Bill, the “Cryptocurrency Energy Conservation Act”, was stripped of language that would have created a 2 year moratorium on Bitcoin mining. The author of the bill, Rep. Greg Vitalli, cited staunch resistance to the moratorium stating “the strong opposition to sweeping changes to the state’s environmental laws is being pushed by trade labor unions.” Aside from the misguided and outdated attack on Bitcoin’s energy use, this begets the discussion; is there value to Bitcoin Miners employing union labor at U.S. mining facilities?

I can hear Max Kaiser now. “Bitcoin doesn’t need corrupt unions!” And he’s right, Bitcoin does not need…

Read more on BitcoinMagazine

Coinbase opens up crypto futures trading to US investors

Eligible US traders can now access crypto futures via Coinbase Financial Markets.

The new launch — revealed Wednesday in a blog post — comes after the company gained clearance in August to operate as a futures commission merchant (FCM) from the National Futures Association. 

A futures contract is an agreement to buy or sell an asset at a certain price, and at a specific time in the future. 

“Futures provide traders with the ability to hedge their risk, diversify their portfolios, trade with leverage and speculate on which way the market will go — either up or down,” Coinbase Financial Markets CEO Andrew Sears wrote in a Wednesday blog post. 

Read more: CME says Q3 open…

Read more on Blockworks

Custodia Bank CEO Caitlin Long Shares Insight on Bitcoin’s Future

Caitlin Long, CEO of Custodia Bank, a financial institution specializing in digital asset payment and custody solutions, has been making waves in the Bitcoin community with her outspoken views on the digital money’s future. In a recent interview, she shared her thoughts on BTC’s trajectory in the wake of the Federal Reserve’s actions and the challenges the market faces.

Caitlin Long Shares Her Views on Bitcoin

Long founded Custodia Bank after years of experience at renowned banks like Credit Suisse and Morgan Stanley. She came across Bitcoin in 2012 and started her investment journey in 2013. However, she started studying the future of Bitcoin a few years later when a…

Read more on bitcoinnews

BlackRock ETF Bitcoin: Three Words On The Market’s Mind

“BlackRock ETF Bitcoin” seems to be the three words that are on everybody’s mind in the bitcoin markets’ realm these days.

The possibility that SEC Chair Gary Gensler may still reject pending Spot Bitcoin ETF applications from BlackRock and others, dashing hopes for approval, is the talk of the market according to Bloomberg ETF analysts who say they can’t rule out a last-minute denial.

Inconsistent Actions From The Securities And Exchange Commission

The SEC’s position on Spot Bitcoin ETFs has been a topic of discussion, especially since a 2019 video resurfaced showing Gensler describing the SEC’s stance on such products as “inconsistent.” Gensler pointed out the…

Read more on bitcoinnews

Onyx Protocol exploiter begins siphoning $2.1M loot on Tornado Cash

Decentralized peer-to-peer lending protocol Onyx Protocol lost roughly $2.1 million in an exploit of a market with no liquidity that was deployed on Oct. 27. 

The Onyx Protocol hacker exploited a known bug, a rounding issue behind the popular CompoundV2 fork, explained blockchain investigator PeckShield soon after alerting about the hack that went unnoticed by the protocol.

#PeckShieldAlert @OnyxProtocol has been exploited for ~2.1M pic.twitter.com/5Z50tCg6MD

— PeckShieldAlert (@PeckShieldAlert) November 1, 2023

The alleged liquidity lacking oPEPE market was “abused with donation to borrow funds from other markets with liquidity,” found PeckShield’s independent investigation on…

Read more on Cointelegraph

FTX and Alameda Research wallets send $13.1M in crypto to exchanges overnight

The crypto wallets linked to now-defunct crypto exchange FTX and its sister trading firm Alameda Research have sent over $13 million in different altcoins to numerous crypto exchanges early on Nov. 1.

According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase. The assets include 46.5 million GRT ($4.85 million), 972,073 RNDR ($2.3 million), and 708.1 MKR ($967,000).

FTX and Alameda linked crypto deposit on Coinbase. Source: SOC

The wallet addresses of FTX and Alameda Research made another $5.49 million transfer after three hours to Binance and Coinbase. The top 3 assets with the highest value in this transaction…

Read more on Cointelegraph

AI’ takes Collins dictionary word of the year, ‘debanking’ makes shortlist

Artificial intelligence, more specifically its abbreviation ‘AI,’ was crowned word of the year for 2023 in the Collins dictionary, one of the world’s earliest English-language dictionary publishers. 

The Collins dictionary defines AI as “the modeling of human mental functions by computer programs.” The dictionary publisher described AI-powered language models as “bursting into the public consciousness” at the end of 2022.

It said AI has not only seen rapid development in 2023 but has also been “much talked about.” Collins wrote that AI is considered to be the “next great technological revolution.”

In addition to AI, Collins has a particular interest in “digital…

Read more on Cointelegraph

LATEST: Bernstein Predicts Bitcoin Price Surge to $150,000 by 2025 with Potential SEC ETF Approval

Investment research firm Bernstein has forecasted a potential surge in Bitcoin’s price to $150,000 by 2025, driven by growing optimism surrounding the approval of a Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC). Analyst Gautam Chhugani anticipates the SEC’s approval in early 2024, aligning with JP Morgan’s 90% likelihood prediction. A Bitcoin ETF could open doors for mainstream investors, currently limited to Grayscale Bitcoin Trust (GBTC), potentially marking a significant turnaround from last year’s sell-off. The “halving” event in 2024 is also expected to support Bitcoin’s price.

Turkey aims to shed FATF gray list status with new crypto regulations

Turkey is reportedly drafting fresh regulations to govern crypto-assets in an effort to convince the Financial Action Task Force (FATF), an international organization responsible for combating financial crimes, to remove it from a “gray list” of nations that have not done enough to combat money laundering and terrorist financing.

Notably, the FATF placed Turkey on its gray list in 2021. According to a report, during a discussion with a parliamentary commission on Oct. 31, Turkish Finance Minister Mehmet Simsek mentioned that a FATF report determined that Turkey adhered to all but one of the 40 standards set by the watchdog.

Finance Minister Simsek reportedly stated that the sole…

Read more on Cointelegraph

65% of Spaniards aren’t interested in using digital euro

As the Bank of Spain embraces the potential adoption of a digital euro, the country’s population doesn’t appear to have the same strong appetite for the European Central Bank’s digital currency project. 

This emerges from the results of a survey published by the Bank of Spain entitled “Study on the habits in use of cash.” The survey was conducted by Ipsos on two groups, totaling 1,600 respondents: the general public and the representatives of small businesses. It also included questions on the digital euro, a potential pan-EU central bank digital currency (CBDC).

The study revealed that only 20% of the general public knows about a “digital euro.” The number among small…

Read more on Cointelegraph