Filecoin Creator Protocol Labs Announces Layoffs Amid Crypto Winter and Economic Downturn

Feb 5, 2023

Protocol Labs CEO Juan Benet published a blog post on Friday announcing that 21% of the company’s staff will be laid off. Protocol Labs is the creator of the blockchain network Filecoin. Benet emphasized in the blog post that it has been an “extremely challenging economic downturn, worldwide, and especially in the crypto industry.” Protocol Labs Cuts Jobs in Response to Macro Winter and Crypto Market Decline Protocol Labs, the company behind the file storage blockchain network Filec ...read more

Australian Government Says It Is Working to Ensure ‘Regulation of Crypto Assets Protects Consumers’

Feb 5, 2023

The Australian government has said it will take steps to ensure the “regulation of crypto assets protects consumers” and one of these steps will be the reforming of “the licensing and custody of crypto assets.” The Anthony Norman Albanese-led government also said it has released a consultation paper that explores “which elements of the crypto ecosystem are sufficiently regulated and which require additional attention.” Prioritizing Protection of Consumers The Australian governm ...read more

Russia Expands Its Crypto Mining Capacity, Report Reveals

Feb 5, 2023

The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major factors for the trend. Miners Prepare for Growth as Total Capacity of Crypto Farms in Russia Reaches 500 MW The capacity of Russian mining farms has exceeded 500 megawatts (MW) at the end 2022, accor ...read more

Billionaire Tim Draper Urges Sri Lanka to Adopt Bitcoin — Central Bank Says ‘We Don’t Want to Make the Crisis Worse’

Feb 5, 2023

Billionaire investor and venture capitalist Tim Draper has reportedly attempted to convince the Sri Lankan government to adopt bitcoin. However, the governor of the Central Bank of Sri Lanka rejected his recommendation, emphasizing: “Adoption of 100% bitcoin won’t be a Sri Lanka reality ever.” Tim Draper Suggests Sri Lanka Adopts Bitcoin Billionaire investor and venture capitalist Tim Draper reportedly tried to convince the Sri Lankan government and central bank to adopt bitcoin duri ...read more

Binance to Support Georgia’s Crypto Industry Through Blockchain Education

Feb 5, 2023

Digital asset exchange Binance has agreed to help Georgia to develop its cryptocurrency sector by launching educational and other blockchain initiatives. The leading coin trading platform has been expanding its presence in the region with similar projects in other countries. Binance and Georgian Tech Agency to Jointly Develop Country’s Crypto Economy The world’s largest cryptocurrency exchange, Binance, announced the signing of a memorandum of understanding with Georgia’s Agency for ...read more

Kazakhstan Launches Consultation on Proposals to Improve Crypto Trading

Feb 5, 2023

Financial authorities in Kazakhstan are starting a public consultation on draft changes to the country’s framework for digital-asset trading. The proposals include measures to reduce risks in the crypto market and improvements to the structure of exchange platforms. Kazakhstan’s Financial Hub Seeks to Amend Its Concept for Trading Digital Assets The Astana Financial Services Authority, the body that oversees the Astana International Financial Center (AIFC), has published a consultation ...read more

Egyptian Fintech MNT-Halan Secures $400 Million in Funding, Valuation Rises to Over $1 Billion

Feb 5, 2023

Egyptian fintech MNT-Halan announced on Feb. 1 that it had raised over $340 million via debt and equity and it expects to raise an additional $60 million from leading international investors. The latest funding round sees MNT-Halan’s valuation rise to over $1 billion which reportedly makes it the country’s “only private billion-dollar company.” ‘Egypt’s Greatest Fintech Success Story’ MNT-Halan, an Egyptian fintech serving the country’s unbanked population, announced on Feb ...read more

Billionaire Ray Dalio Says Bitcoin Isn’t an Effective Money, Store of Value, or Medium of Exchange

Feb 5, 2023

Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, says it’s “amazing” what bitcoin has accomplished but believes the cryptocurrency is not going to be an effective money, a store of value, or a medium of exchange. Nonetheless, he stressed that “we are in a world in which money as we know it is in jeopardy.” Billionaire Ray Dalio on Bitcoin Billionaire investor and hedge fund manager Ray Dalio, who founded the world’s largest hedge f ...read more

Solana Can Depreciate Further If It Doesn’t Breach Its Immediate Target

Feb 5, 2023

Solana had significantly recovered from the lows it touched in November and December. Currently, the SOL price is stuck below the $26 mark, which has caused the altcoin to lose further value. Over the last 24 hours, Solana fell by 0.7%, which indicated that the coin was range-bound on its chart. In the past week, the altcoin hasn’t moved much, either. The technical outlook also pointed towards increased bearishness for Solana. Related Reading: Shiba Inu Whale Withdraws $60 Million In SHIB ...read more

Next Bitcoin Mining Difficulty Change Estimated to Decrease as Block Times Have Lengthened

Feb 4, 2023

The last two mining difficulty changes on the Bitcoin network have driven difficulty to an all-time high, causing a decrease in hashrate and block interval speed. Before the latest difficulty retarget increase of 4.68%, block intervals were faster than the 10-minute average, at approximately 8 minutes 54 seconds to 9 minutes 31 seconds. However, since the change, block times have slowed, with statistics showing durations of 10 minutes 44 seconds to 10 minutes 36 seconds. Slower-Than-Averag ...read more

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