Month: January 2021

The Indian government has finally moved forward with a cryptocurrency bill. Entitled “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021,” the bill has been listed for consideration in the current parliamentary session of Lok Sabha, the lower house of India’s parliament. It seeks to create a framework for India’s official digital currency to be issued by the Reserve Bank of India (RBI) but prohibit all cryptocurrencies. Indian Government Set to Introduce Cryptocurrency Bill in Current Parliamentary Session After almost two years of waiting, the Indian government has finally…

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Ukraine’s government-owned nuclear power plant picked a firm to build a massive data center in Rivne for cryptocurrency mining operations. After a bidding process, Energoatom chose Kyiv Energy Construction Company to handle the nuclear plant crypto mining project. Nuclear Power Plant Operator Expects to Launch the Data Center in 2022 According to official documents, the data center will be based in the Rivne nuclear power plant, after the construction firm got 8.92 million Hryvnia ($317,620) in funding. The only competitor in the bidding was Ukrenergobudproek. However, they allegedly made an…

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The San Francisco-based cryptocurrency exchange Coinbase recently announced the company plans to do a direct listing, as opposed to following the initial public offering (IPO) route. The decision means that Coinbase can float its shares on an exchange without hiring a financial institution to underwrite the settlements. Coinbase to Skip IPO Process, Shoots for a Direct Listing Just recently people familiar with the matter received a tip that the exchange giant Coinbase had plans to sell shares privately ahead of the IPO. In mid-December, Coinbase revealed the confidential filing of…

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Bitcoin mining rig manufacturers are dealing with a semiconductor supply crunch according to regional reports stemming from China. There’s been a global semiconductor supply shortage and it’s affecting nearly every type of business in the supply chain that manufactures cars, PCs, laptops, smartphones, and cryptocurrency mining devices. Moreover, the recent shortage has invoked the demand for second-hand and older generation mining rigs. Semiconductor Shortage Complicates Mining Rig Manufacturing Currently, the world is dealing with a semiconductor supply crunch which has been spurred by the aftermath of Covid-19 and the lockdowns.…

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As bitcoin struggles to kickstart yet another record-breaking rally, Scott Minerd, the CIO at Guggenheim Investments says this could be down to the inadequate institutional support. According to Minerd’s assessment, this lack of sufficient institutional investor support means it will be hard for bitcoin to trade above $30,000. The CIO, however, thinks the viability of the crypto as “an asset class is still very likely.” In a short video, Minerd chronicles bitcoin’s rise and how the crypto initially did not have a large enough market capitalization to attract institutions. However,…

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The infamous meme token dogecoin has been skyrocketing in value rising more than 325.21% during the last 24 hours. After remaining below a U.S. cent for years, the humorous crypto asset is now exchanging hands for $0.05 per unit. The reason behind the big dogecoin price spike is similar to the recent Gamestop/Wallstreetbets story as a Reddit group called Satoshistreetbets has been behind the recent pump. In April 2019, the Tesla founder Elon Musk said dogecoin (DOGE) was his “fav cryptocurrency.” In June 2020, day traders from Tiktok decided to…

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PRESS RELEASE. PARSIQ, a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time, announced that its PRQ token is now listed on OKEx with USDT base pair. Please take note of the following go-live schedule: PRQ Deposit : 07:00am January 28, 2021 (UTC) PRQ Spot Trading : PRQ /USDT: 10:00am January 28, 2021 (UTC) PRQ Withdrawal : 10:00 January 29, 2021 (UTC) PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ’s features automate the…

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Another class-action lawsuit has been filed against Ripple Labs and CEO Brad Garlinghouse. This lawsuit follows the one filed by the U.S. Securities and Exchange Commission (SEC) alleging that the defendants sold XRP, which it considers unregistered security, for over $1.38 billion. The lawsuit, filed Monday in a Florida district court alleges that the “sale of XRP cryptocurrency tokens to Florida residents” violates Florida securities laws. The suit names Ripple Lab Inc., XRP II LLC, and Garlinghouse as the defendants. They have allegedly sold “millions of dollars (or more)” in…

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Canadian investment management firm Ninepoint has completed an initial public offering (IPO) of its bitcoin fund on the Toronto stock exchange. The company says the offering is the largest IPO of a bitcoin investment fund in Canada to date. Ninepoint Partners announced Wednesday that its Bitcoin Trust has completed an initial public offering (IPO) of CAD$230 million ($180 million). “It is the largest initial public offering of a bitcoin investment fund in Canada to date,” said John Wilson, Ninepoint’s co-CEO and managing partner. The fund’s Class A units are now…

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Elon Musk has changed his Twitter profile to just “#bitcoin.” The Spacex and Tesla CEO also tweeted, “In retrospect, it was inevitable.” The price of bitcoin immediately soared. Elon Musk’s Bitcoin Twitter Profile and Tweets Spacex and Tesla CEO Elon Musk changed his Twitter profile to “#bitcoin” on Friday morning. He also made a cryptic tweet that says, “In retrospect, it was inevitable.” At the time of writing, his tweet has been liked over 152.6K times, retweeted 22.2K times, and commented on 12.8K times. The billionaire entrepreneur has about 43.8…

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