Publicly traded North American Bitcoin mining company, Bitfarms, has doubled its productivity this year amid the Chinese crackdown and resultant miner migration. The Canadian hydroelectricity mining outfit claims to be currently powering an estimated 1.5% of the entire Bitcoin network with more than 99% renewable green energy. In a July 14 production update, the firm
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Bitcoin (BTC) has seen almost two months of rangebound price moves after hitting $30,000 — and new data hints why. In a series of tweets on July 15, popular Twitter commentator Nunya Bizniz presented multiple arguments supporting the significance of $30,000 for BTC/USD. All roads lead to $30,000? Despite rising fundamentals and ongoing adoption narratives,
Amid the ongoing regulatory uncertainty to cryptocurrencies in India, a high court in the country’s capital is taking action to regulate advertising by local crypto exchanges. The Delhi High Court has issued notices to local authorities and crypto firms in an effort to enforce guidelines for crypto exchanges advertising on national television, the New Indian
Market analysts are arguing that Tesla’s exposure to Bitcoin (BTC) may be the reason for its sharp decorrelation from Big Tech in recent weeks. As of Wednesday, July 14, the 20-day correlation between the company’s price and the Nasdaq 100 index has dropped from 0.83 on June 17 down to 0.14. Whereas Tesla has shed
Revolut, a major British banking app featuring cryptocurrency investment, has secured $800 million in a new funding round. The new investment round is led by Japanese financial giant SoftBank and United States hedge fund Tiger Global, which collectively hold around 5% in Revolut, CNBC reported Thursday. The round values Revolut at $33 billion, marking a
Italy’s securities market regulator, the Italian Companies and Exchange Commission (CONSOB), has issued a statement stating that Binance Group and affiliated companies are not authorized to provide investment services and operate in Italy. The regulator specified that the warning refers to Binance.com, the main website of the global crypto exchange. CONSOB went on to warn the public
The number of reachable Bitcoin network nodes has crossed the 13,000 mark for the first time. As previously reported by Cointelegraph, the previous all-time high was 11,613 achieved back in January. According to data from Bitcoin network statistics dashboard Bitnodes.io, this milestone was reached back on July 5 when the number of reachable nodes clocked
Bitcoin (BTC) may be a “scam” for former U.S. president Donald Trump, but his treasury secretary appears to have made a U-turn on the world’s first and best-known cryptocurrency. Speaking to CNBC on July 14, Steven Mnuchin confirmed that his perspective on Bitcoin had “evolved.” Mnuchin: Bitcoin stance has “evolved a little” The Trump administration
China’s crackdown on Bitcoin (BTC) mining due to energy consumption concerns is widely regarded as the trigger for the miners’ exodus from Asia to Western countries. But new research by the Cambridge Centre for Alternative Finance suggests that the shift in mining power started before China’s renewed scrutiny. Reuters reported that China’s total computing power connected
Between 2016 and 2020, green, social and sustainability bond issuance grew by an average of 72% a year in the United States, according to a report issued Tuesday by the Climate Bonds Initiative. Green municipal bonds issued by local government authorities and state-backed government entities made up 23% of total volume of annual issuance in
What is Volatility? -The magnitude of the change -It is independent of direction, it refers to the change of ups and downs Why is it Important? -The more volatile the market is, the crazier it gets -Trends are harder to spot when they are more volatile -Swing trading becomes riskier -It is better to stick
The high level of incarceration in the U.S., especially among Americans of color and indigenous people, constrains the labor market and the economy’s ability to reach its full potential, Federal Reserve Bank of Atlanta President Raphael Bostic said. “Incarceration is a drag on our ability achieve our maximum-employment goal,” Bostic said Tuesday at the start
Municipals were little changed Tuesday, ignoring another rise in U.S. Treasuries and a weaker stock market, with the focus on the primary which saw deals bumped in repricings. Another day of UST weakness after less-than-stellar auctions and municipals stayed in their own lane. Some participants said without the UST rise in yields, municipal benchmarks likely
New Jersey received its second upward outlook revision in three months from Moody’s Investors Service, which on Tuesday lifted its outlook on the state’s general obligation debt to positive from stable. The move affects $40 billion of rated debt. “The state has responded to a brightening revenue and liquidity picture with several actions reflecting a
The California Public Employees’ Retirement System reported a 21% net return on investments in the fiscal year ended June 30. The double-digit return will trigger a reduction in the discount rate used to calculate employee and member contributions to 6.8% from 7%. This was the first time CalPERS Funding Risk Mitigation Policy has been triggered,
The Municipal Securities Rulemaking Board will announce its fiscal year 2022 chair, vice chair and four new members of the board following its meeting next week. That announcement will follow the MSRB’s search for new members, which it announced in November 2020. The MSRB said at that time it was searching especially for issuers and
New York City has added Kroll as a fourth bond rating agency. The organization posted its AA-plus rating and stable outlook for the city’s general obligation bonds on its website Monday. “We are pleased that the city followed through on our office’s suggestion that we obtain a credit rating for our general obligation bonds from
Lagging attendance at the home of the King of Rock and Roll continues to batter the tourist-tax municipal bonds that were issued to gussy it up. The bonds were sold in 2017 for a development project at Graceland, the former residence and now resting place of Elvis Presley, which has become a worldwide tourist attraction
The Puerto Rico Oversight Board reached a verbal agreement with bond insurers on a debt repayment plan on Wednesday, two days after they reached an agreement with unsecured creditors representing the largest debt holders in the negotiations. Lawyers at Proskauer Rose LLP representing the Oversight Board, and federal Judge Laura Taylor Swain, agreed to delay
Chicago Public Schools laid out a proposed $9.3 billion fiscal 2022 budget that directs $707 million towards capital and spends down about $1 billion of the district’s $2.6 billion of federal relief to recover from the COVID-19 pandemic. The proposed budget for the fiscal year that began July 1 raises spending by about $900 million