Russia Expects Sizable Increase in Crypto Miners’ Share of Power Usage

by webwriter | Dec 8, 2022 | Crypto Updates

The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a bill designed to regulate the sector which is likely to be adopted...

Court in China Recognizes NFTs as Virtual Property Protected by Law

by webwriter | Dec 7, 2022 | Crypto Updates

A court in the Chinese city of Hangzhou has determined that non-fungible tokens, or NFTs, represent virtual property protected by the laws in the People’s Republic. The ruling comes from a case over a dispute between a customer and a platform hired to sell a...

Lawmaker Pleads With Sam Bankman-Fried to Attend Congress Hearing on FTX — SBF Says He’ll Testify When He’s Ready

by webwriter | Dec 7, 2022 | Crypto Updates

Congresswoman Maxine Waters, chair of the House Committee on Financial Services, has politely asked former FTX CEO Sam Bankman-Fried (SBF) to attend a congressional hearing on the collapse of his cryptocurrency exchange. Bankman-Fried says he will testify when he has...

Morgan Creek CEO Says FTX Co-Founder SBF Was a ‘Pawn’ Used to ‘Punish’ the Crypto Industry

by webwriter | Dec 6, 2022 | Crypto Updates

Following FTX’s collapse, many industry executives, influencers, luminaries, and politicians have shared their opinions about the carnage the event has caused to crypto markets and a great deal of innocent bystanders. On Dec. 2, the CEO and founder of Morgan Creek...

Bitcoin’s Difficulty Slides 7.32%, Reduction Marks the Largest Drop in 2022

by webwriter | Dec 6, 2022 | Crypto Updates

On Dec. 5, 2022, at block height 766,080, Bitcoin’s mining difficulty adjustment dropped 7.32% lower, making it the largest difficulty reduction in 2022. The current difficulty is approximately 34.24 trillion and it will remain at this point for the next two weeks or...

North Korean Lazarus Group Linked to New Cryptocurrency Hacking Scheme

by webwriter | Dec 5, 2022 | Crypto Updates

The Lazarus group, a North Korean hacking organization previously linked to criminal activity, has been connected to a new attack scheme to breach systems and steal cryptocurrency from third parties. The campaign, which uses a modified version of an already existing...