Facebook Down, Bank of America Researches Crypto, Bitcoin Mining Difficulty + More News

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Get your day by day, bite-sized digest of cryptoasset and blockchain-related information – investigating the tales flying underneath the radar of in the present day’s crypto information.


Social media information

  • In style social media and messaging apps Facebook, Instagram, and WhatsApp, all owned by Facebook, went down in the present day. On Twitter, the corporate confirmed that they’re “conscious that some individuals are having bother accessing Facebook app” and that they’re “working to get issues again to regular as shortly as doable.” (Study extra: Can You Trust Centralized Big Tech?)

Investments information

  • Bank of America said it launched its digital asset analysis with the publication of a report entitled “Digital Belongings Primer: Solely the primary inning.” The primer offers an funding framework for the digital asset panorama, trying by way of a range of lenses, the financial institution added.
  • Digital foreign money asset supervisor Grayscale Investments said it has adjusted the Digital Massive Cap Fund’s portfolio by promoting sure quantities of the prevailing Fund elements in proportion to their respective weightings and utilizing the money proceeds to buy solana (SOL) and uniswap (UNI). That is the primary time SOL is be included in a Grayscale funding automobile.
  • Main crypto lender Nexo (NEXO) mentioned it’s bringing SOL to its platform. Customers at the moment are capable of purchase, swap, earn, and borrow in opposition to their SOL on Nexo.

Mining information

  • Bitcoin (BTC) mining problem, or the measure of how onerous it’s to compete for mining rewards, is anticipated to rise greater than 3% tonight (UTC time) and attain round 19.60 T, per Bitcoin mining pool information. The final time it was near this stage was mid-June this 12 months when the issue was on its approach down from the all-time excessive of 25.05 T, hit in mid-Could. This will likely be its 6th enhance in a row – a streak size final seen in Could by way of October 2019.
  • Greenidge Technology Holdings Inc. said that, for the three months ended September 30, 2021, it expects to report revenues in a spread of USD 33m to USD 37m, internet loss in a spread of USD 19m to USD 16m, and Adjusted EBITDA in a spread of USD 18m to USD 22m. The anticipated internet loss is pushed by roughly USD 30m of fees related to the merger with, the corporate said, including that it mined 729 bitcoin throughout the third quarter.
  • Hut 8 Mining Corp. has supplied a company replace, highlighting its mining manufacturing for September. Per the replace, BTC 264 have been mined, leading to a median manufacturing price of BTC 9.11 per day; whole BTC steadiness held in reserve is 4,724 as of September 30; and 100% of the self-mined Bitcoin for the month of September have been deposited into custody, in step with Hut 8’s Hodl technique.

Exchanges information

  • Mainland Chinese language customers of KuCoin should withdraw all their funds and shut their accounts by the tip of the 12 months, the alternate said. After consideration of what can be probably the most handy motion for his or her prospects, the crew concluded that leaving China is the one choice, which complies with the native guidelines.

Regulation information

  • The US Treasury Division Working Group on Monetary Markets is aiming to concern a report on stablecoins by the tip of the month, the place an anticipated suggestion is that Congress set up a restricted constitution permitting new crypto banks to handle stablecoins as deposits, Bloomberg reported. They’ve additionally been contemplating urging the Monetary Stability Oversight Council to look at whether or not stablecoins pose a systemic risk, which might additionally result in imposing bank-like guidelines on stablecoins.
  • US President Joe Biden has said that high US nationwide safety advisers will collect officers from 30 nations this month with plans to fight the rising risk of ransomware and different cybercrime. A web-based session hosted by the White Home Nationwide Safety Council may also be aimed toward “enhancing legislation enforcement collaboration” on points like “the illicit use of cryptocurrency,” Biden added.

CBDCs information

  • The Hong Kong Financial Authority (HKMA) has released a technical whitepaper on retail central financial institution digital foreign money (CBDC), titled e-HKD: A technical perspective. The HKMA mentioned it has began a examine on the prospect of issuing retail CBDC in Hong Kong, overlaying each technical and coverage concerns, whereas it goals to provide you with an preliminary view by the center of subsequent 12 months.
  • The US Federal Reserve plans to launch a assessment of the potential advantages and dangers of issuing a US digital foreign money, as early as this week, as central banks around the globe are already experimenting with CBDCs, reported The Wall Avenue Journal. Fed officers will launch a paper and solicit public remark, however they’re divided on the matter, making it unlikely they are going to determine any time quickly on whether or not to create a digital greenback, the report added.

NFTs information

  • Yield Guild Video games has announced its dedication to buy USD 1m value of Star Atlas NFT gaming property as half of a long-term partnership between the 2 tasks. Yield Guild fashioned a strategic partnership with Star Atlas in April of this 12 months.

Profession information

  • Linus Jönsson has been appointed as the brand new Group Chief Monetary Officer of funding firm Arcane Crypto AB. He has earlier expertise in monetary management and “a coronary heart for fintech and crypto and deep understanding of scalable enterprise fashions,” in response to the crew.

Written by CryptoMoonPicks

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