Author: Coindesk
Bullish futures bets lost nearly $200 million, CoinGlass data shows, as more than 97,000 traders were liquidated in the past 24 hours on the sudden market movements. ETH longs led losses at $55 million, followed by bitcoin longs at $43 million, the data shows. Read the full article here
Beyond energy considerations, Bitcoin mining is emerging as a powerful force for economic revitalization of rural areas hit hard by globalization and the offshoring of American industry. According to our research team, in 2023, U.S. Bitcoin mining operations generated $2 billion in revenue, a figure that represents 3% of the American iron and steel industry’s output. This comparison underscores the growing economic significance of this nascent sector. In just five years, the industry has created substantial employment opportunities. According to our internal estimates, direct employment in U.S. Bitcoin mining has grown to approximately 1,700 jobs, doubling over the past two…
Proofs should ideally be generated on sensors, location trackers, compute nodes, and other devices. Local proving ensures that proof data remains in the hands of the network participants and doesn’t centralize operations – aligning with networks’ core principles. Proof verification can take place locally, on cloud networks, or on chain, depending on how the network is structured. Read the full article here
Having already suffered the sale of 50,000 bitcoin by the German government in early July, the beginning of distributions from bankrupt exchange Mt. Gox, and looming sales from the U.S. government’s BTC stash, the Genesis action can now be added to the growing list of supply shocks for the crypto market. Read the full article here
Donald Trump: “Crypto is a very interesting thing. Very high-level in certain ways, intellectually very high-level. But if we don’t do it, China’s going to do it. China’s going to do it anyway. But if we don’t do it, China’s doing it. China is already doing it, and if we don’t do it, other countries are going to do it. So we might as well be at the forefront. And there are people in crypto that are very, very smart people who do love our country, and they think it’s– they think it’s good. Who knows? Maybe we’ll pay off…
Furthermore, DePINs give data owners more control over their information, enhancing privacy while encouraging widespread data sharing. For instance, consider a healthcare scenario where a patient’s data from various hospitals and clinics can be securely shared without compromising on privacy. By leveraging DePINs, researchers can access a rich, diverse dataset that enhances their ability to develop better diagnostic tools and treatment plans. Similarly, in the environmental science field, DePINs can facilitate sharing climate data from various sensors, often located on private homes and properties worldwide, leading to more accurate models and predictions. Read the full article here
The French markets regulator said it started accepting applications for crypto asset services provider (CASP) licenses on July 1, the first major European Union economy to do so, as more provisions of the bloc’s Markets in Crypto Assets (MiCA) rules are set to take effect at the end of the year. Read the full article here
Since adopting bitcoin as its primary treasury reserve asset in August 2020, Executive Chairman Michael Saylor-led company has appreciated 1,206%, Benchmark’s analyst Mark Palmer wrote in a research report on Friday. The stock’s performance, since then, stands in contrast to bitcoin (BTC), the S&P 500 and Nasdaq which have gained 442% 64% and 60%, respectively, he noted. Read the full article here
January’s approval of spot bitcoin ETFs in the U.S. brought hopes the investment vehicles would attract the deep pockets of financial institutions to cryptocurrency. However, major companies like Morgan Stanley often have lengthy compliance and review processes to undertake before they approve funds to be offered to their clients. Read the full article here
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