Author: Coindesk
When asked directly whether ETH is a commodity, Gensler didn’t respond with a yes or no, maintaining the uncertain position his agency has held on that asset. At the same hearing, when asked whether it’s a commodity, Commodity Futures Trading Commission (CFTC) chief Rostin Behnam responded, “Yes.” Read the full article here
To keep a power grid at the correct frequency, grid operators must “balance” the power grid by adjusting energy production to match user demand. This process is called “load following.” Historically, increasing and decreasing energy production was the only real-time response action grid operators had available to them. But now, during periods of high or low electricity demand, Bitcoin miners can quickly adjust their power consumption to create a second, real-time response action that grid operators can use to establish balance. Read the full article here
In 2018, WallStreetBets once again began to attract media coverage, and the articles took note of both the growth of the subreddit — which was up to 300,000 members by mid-2018—and the bizarre penchant members seemed to have for losing money. The first magazine profile of the website, in Money, was titled: “Meet the Bros Behind /r/WallStreetBets, Who Lose Hundreds of Thousands of Dollars in a Day — and Brag About It.” Read the full article here
“$66K seems like equilibrium,” said well-followed analyst Skew in an X post, who along with others is trying to decode a market that won’t go sustainably higher despite a lot of recent bullish news: improving inflation data, a Bitcoin-friendly presidential frontrunner in Donald Trump, spot ETH ETF approvals, and other risk asset markets (namely U.S. stocks) ripping to new all-time highs. Read the full article here
The egregious mining tax, implemented despite the billions of dollars invested in the sector, is part of his budget proposal for the fiscal year 2025, which aims to address environmental concerns and regulate the digital asset mining industry. The proposal suggests that the tax would be phased in over three years, starting at 10% in the first year, increasing to 20% in the second year and reaching the full 30% in the third year. This tax is prejudicing digital mining, exclusively, not data centers generally. Read the full article here
She is the sponsor of a Technology Advisory Committee that includes members stablecoin issuer Circle, blockchain analytics firm TRM Labs and Cryptocurrency custody firm Fireblocks. The committee was created to protect U.S. citizens from cyber attacks, ensure “responsible development of digital assets,” Goldsmith Romero said at the time. Read the full article here
“As an independent entity, Nuffle Labs will now be able to make agile decisions, ensuring that NEAR Modular products remain competitive,” the announcement said. “Strategically positioned between the NEAR Foundation, Ethereum, and EigenLayer ecosystems, Nuffle Labs will leverage strengths from multiple platforms to enhance efficiency and resilience in the NEAR ecosystem.” Read the full article here
Bitcoin held its ground above $67,000 during the European morning following the Fed’s hawkish interest rate projections on Wednesday. The U.S. central bank left rates unchanged on Wednesday and predicted just one reduction this year, which sent bitcoin lower. Following a dip toward $67,000 during the Asian morning, BTC ticked back upward swiftly before trading between $67,200-$67,800. At time of writing, bitcoin is sitting above $67,900, up 0.16% 24 hours ago. The CoinDesk CD 20, meanwhile, is down 0.34% in that time. Ether has fluctuated either side of $3,500, currently 1.1% down in the last 24 hours. Read the full…
June 12: Minima, describing itself as the only blockchain lightweight enough to run entirely on mobile and device chips, says it’s working with Influx Technology to integrate a data tracker into a McLaren GT4 – a capability that could improve racing performance as well as prevent cheating. According to a press release: “Data points on over 20 parameters including vehicle ignition timing, braking, oil pressure, engine temperature, steering angle and rotation, as well as gear switching, are collected by the ‘DePIN Data Logger’ in real time…. Minima’s innovative blockchain design secures the hash of the data, proving its history and…
In an all-hands email obtained by Bloomberg, its CEO Charles Cascarilla said that the layoffs “allows us to best execute on the massive opportunity ahead in tokenization and stablecoin” and the company is in a “very strong financial position to succeed” Read the full article here