FDIC writes to banks on risks associated with crypto activities
The Federal Deposit Insurance Corporation (FDIC) of the United States has written to the banks it regulates, expressing worry about the risks associated with crypto activities and how it affects consumer protection. “Crypto-related activities may pose major safety and soundness hazards, as well as concerns about financial stability and consumer protection.” Furthermore, because crypto-related activities […]
Canaan launches new ASIC Bitcoin mining rig, Avalon 1266 model
Canaan a bitcoin (BTC) mining rig manufacturer, has launched a new miner dubbed the Avalon 1266 model, the miner has a hashrate capability of 100 terahashes (TH/s) per second and a power efficiency of 35 joules per terahash (J/T). According to a company executive speaking at the Bitcoin 2022 Conference in Miami , the Avalon […]
Block, Blockstream partner with Tesla to mine Bitcoin with solar power in Texas
According to CNBC, Blockstream and Jack Dorsey’s Block, (previously Square) have partnered to build a Bitcoin mining facility that will use Solar energy from Tesla’s solar and storage technology in Texas. At the Bitcoin 2022 conference in Miami, Blockstream co-founder and CEO Adam Back, a British cryptographer and member of the “cypherpunk” group, told CNBC […]
Mastercard files applications for NFT, Metaverse-based trademarks
Mastercard International Inc, a credit card company, has filed various trademark applications linked to NFTs and the Metaverse. The company joins a growing list of financial titans attempting to cash in on the growing trend. On April 4, Mastercard filed 15 trademark applications for intellectual property, including its popular Priceless motto and Circles Logo, according […]
European Union Bans High Value Crypto Services To Russia
As part of the fifth package of sanctions imposed in response to the Ukraine war, The European Union member states today agreed to ban the provision of high-value crypto-asset services to Russia. The decision comes after reports that crypto is being used to get around sanctions imposed in response to Ukraine’s invasion. The measure will […]