Billionaire Tim Draper Urges Sri Lanka to Adopt Bitcoin — Central Bank Says ‘We Don’t Want to Make the Crisis Worse’

Billionaire investor and venture capitalist Tim Draper has reportedly attempted to convince the Sri Lankan government to adopt bitcoin. However, the governor of the Central Bank of Sri Lanka rejected his recommendation, emphasizing: “Adoption of 100% bitcoin won’t be a Sri Lanka reality ever.” Tim Draper Suggests Sri Lanka Adopts Bitcoin Billionaire investor and venture capitalist Tim Draper reportedly tried to convince the Sri Lankan government and central bank to adopt bitcoin during his visit to the south Asian country earlier this week to shoot an episode of his “Meet…

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Billionaire Ray Dalio Says Bitcoin Isn’t an Effective Money, Store of Value, or Medium of Exchange

Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, says it’s “amazing” what bitcoin has accomplished but believes the cryptocurrency is not going to be an effective money, a store of value, or a medium of exchange. Nonetheless, he stressed that “we are in a world in which money as we know it is in jeopardy.” Billionaire Ray Dalio on Bitcoin Billionaire investor and hedge fund manager Ray Dalio, who founded the world’s largest hedge fund, Bridgewater Associates, and previously served as its co-chief investment officer,…

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Russia Expands Its Crypto Mining Capacity, Report Reveals

The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major factors for the trend. Miners Prepare for Growth as Total Capacity of Crypto Farms in Russia Reaches 500 MW The capacity of Russian mining farms has exceeded 500 megawatts (MW) at the end 2022, according to results from a poll among established industry players published…

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Next Bitcoin Mining Difficulty Change Estimated to Decrease as Block Times Have Lengthened

The last two mining difficulty changes on the Bitcoin network have driven difficulty to an all-time high, causing a decrease in hashrate and block interval speed. Before the latest difficulty retarget increase of 4.68%, block intervals were faster than the 10-minute average, at approximately 8 minutes 54 seconds to 9 minutes 31 seconds. However, since the change, block times have slowed, with statistics showing durations of 10 minutes 44 seconds to 10 minutes 36 seconds. Slower-Than-Average Block Intervals May Lead to Decrease in Bitcoin Mining Difficulty ​​The next mining difficulty…

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Debate Intensifies Over Significance and Implications of Ordinal Inscriptions on Bitcoin Blockchain

During the past two weeks, members of the cryptocurrency community have discussed the non-fungible token (NFT) concept known as Ordinals. Since the 3.96 MB block (#774,628) was mined, there has been a significant increase in Ordinal inscriptions on the Bitcoin blockchain. Ordinal Inscriptions on Bitcoin Blockchain Spark Debate Among Crypto Community The controversial NFT concept known as Ordinals, which uses the Bitcoin blockchain to mint inscriptions, has been a highly topical subject recently. Since its introduction, there has been a marked increase in the number of inscriptions being added to…

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Google Backs AI Firm Anthropic With $300 Million, Following Series B Investment From Controversial FTX Co-Founder

As the artificial intelligence (AI) wars intensify, the AI firm Anthropic has raised $300 million from Google and sources say that the tech giant will get roughly a 10% stake in the AI company. Interestingly, in April 2022, Anthropic raised approximately $500 million from sources including Sam Bankman-Fried (SBF), co-founder of FTX; Caroline Ellison, former CEO of Alameda; Nishad Singh, former director of engineering at FTX; and several others. AI Company Backed by Sam Bankman-Fried Raises $300 Million in Capital From Google Following the launch of Chatgpt and Microsoft’s investment…

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Biggest Movers: SHIB Jumps 13% on Saturday, Hitting a 4-Month High

Shiba inu extended recent gains into the weekend, as the meme coin rose to its highest point in four months. Today’s surge saw prices climb by as much as 13%, and comes despite cryptocurrency markets mostly consolidating. Dogecoin also moved higher, breaking out of a recent ceiling in the process. Shiba inu (SHIB) Shiba inu (SHIB) was one of the biggest movers in the market for a second consecutive session, with prices rising by as much as 13% higher today. SHIB/USD rose to a high of$0.00001457 on Saturday, which was…

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Bitcoin, Ethereum Technical Analysis: ETH Remains Near $1,700 to Start the Weekend 

Ethereum continued to trade close to a key resistance level of $1,700 on Saturday, following Friday’s U.S. non-farm payrolls (NFP) report. Yesterday’s report showed that 517,000 jobs were added to the U.S. economy in January, better than the 185,000 many were expecting. Bitcoin mostly consolidated however, as traders moved to take recent profits. Bitcoin Bitcoin (BTC) moved lower to start the weekend, as traders continued to secure gains following a recent climb to a six-month high. Following a high of $23,678.10 on Friday, BTC/USD fell to an intraday low of…

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Egyptian Fintech MNT-Halan Secures $400 Million in Funding, Valuation Rises to Over $1 Billion

Egyptian fintech MNT-Halan announced on Feb. 1 that it had raised over $340 million via debt and equity and it expects to raise an additional $60 million from leading international investors. The latest funding round sees MNT-Halan’s valuation rise to over $1 billion which reportedly makes it the country’s “only private billion-dollar company.” ‘Egypt’s Greatest Fintech Success Story’ MNT-Halan, an Egyptian fintech serving the country’s unbanked population, announced on Feb. 1 that it had raised close to $ 340 million via debt and equity financing. The fintech also said it…

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Kazakhstan Launches Consultation on Proposals to Improve Crypto Trading

Financial authorities in Kazakhstan are starting a public consultation on draft changes to the country’s framework for digital-asset trading. The proposals include measures to reduce risks in the crypto market and improvements to the structure of exchange platforms. Kazakhstan’s Financial Hub Seeks to Amend Its Concept for Trading Digital Assets The Astana Financial Services Authority, the body that oversees the Astana International Financial Center (AIFC), has published a consultation paper detailing proposals aimed at upgrading Kazakhstan’s regulated ecosystem for cryptocurrency operations. The document suggests measures to reduce market risks in…

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