In its unrelenting efforts to develop and release a digital yuan, Shanghai authorities have announced that they would distribute $3 million worth of the Chinese central bank digital currency to Shanghai residents. As seen in other parts of China in the past, the digital currency will get distributed through a lottery. The state-run Xinhua news […]
A recent study by Gambler’s Pick revealed that members of the Gen Z demographic are more likely to invest their money in cryptocurrency-related investments than traditional investment vehicles like equities. The study, published on gamerspick.com, was conducted towards the end of April. Generation Z, popularly known as Gen Z, is the demographic that succeeds Millennials. […]
Argentina is currently experiencing a boom in Bitcoin mining operations thanks to its highly subsidized power rates and exchange controls, granting miners the ability to sell their newly-mined BTC at prices above the official rate. The increasing mining activity in Argentina also stems from the fact that the country operates a capital control system that […]
Recently, the Chinese government has gotten more conscious about the cryptocurrency economy, with a lot of attention focused on Bitcoin mining operations. The Chinese government has stated its plans to get the country to carbon neutrality by 2060 and capture a good percentage of this neutrality by 2030. That said, many crypto-based companies have begun […]
According to a new report by PwC, cryptocurrency-focused hedge funds increased their investment in 2020 by close to 100% compared to the year before. On average, these companies returned about 120% last year compared to an average of 30% in 2019. Meanwhile, PwC and the Alternative Investment Management Association (AIMA) recently released their third annual […]
The new US Securities and Exchange Commission (SEC) Chairman, Gary Gensler, has urged Congress to pass cryptocurrency legislation to protect investors. Gensler revealed that the Commission is working with the Commodity Futures Trading Commission (CFTC) and the US Treasury Department to tackle the illicit use of cryptocurrencies. Gensler explained to the subcommittee in Congress that […]
If in the past, in the field of cryptocurrencies, investors wanted to find a way to increase profits or increase the number of coins held by trading, now there is a new way to help investors quickly increase that amount of coins. It is Yield Farming. So what is Yield Farming? How does it work? […]
The President of Iran, Hassan Rouhani, has announced a four-month ban on all cryptocurrency mining activities ahead of elections. The announcement came on Wednesday, a day after the Iranian Energy Minister, Reza Ardakanian, apologized for unexpected power cuts across large cities. Iranian public officials have always blamed unlicensed cryptocurrency mining operations for consuming significant amounts […]
The governor of the central bank of Nigeria (CBN), Godwin Emefiele, has asserted that digital currency “will come to life even in Nigeria.” This statement comes just a few months after the apex bank ordered commercial banks in the country to stop facilitating cryptocurrency transactions. While acknowledging that the country is a leading force in […]
