Category: Bitcoin News

Bitcoin hash rate hits record 200 EH/s in fresh BTC price bull flag

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Bitcoin (BTC) has seen a classic indicator of a coming bull run pass a historic milestone as miners commit more and more resources to its future. According to data from on-chain monitoring resource Glassnode on Friday, Bitcoin’s network hash rate has passed total exahashes per second for the first time in its history. Hash rate underscores miner commitment Coming as a spike in a long-term uptrend, crossing the significant boundary means that the hash rate has doubled in under nine months.  Bitcoin average hash rate chart. Source: Glassnode An estimate…

As DeFi tokens surge, CRV indicates a bumper crop for ‘DeFi Summer 2.0’

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Fire up your tractors: The farmer’s almanac of decentralized finance is indicating that DeFi Summer 2.0 could feature some healthy yields across the ecosystem.  Multiple common metrics used to gauge the health of the DeFi space are pointing toward a looming bull market, but perhaps most promising of all might be the surge in Curve’s CRV governance token price. Often referred to as one of the “backbone” protocols of DeFi, Curve is an essential tool for many retail and protocol-level yield farming strategies. Curve allows for low-cost, low-slippage swaps of…

Pendle Finance raises $3.5M to launch secondary market for DeFi yields

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Pendle Finance, a DeFi protocol that allows users to tokenize and sell future yields, has completed a private investment round worth $3.5 million to power the next phase of its platform’s evolution.  The private investment round included contributions from several companies, including CMS, DeFi Alliance, Lemniscap, Hashkey Capital, imToken and Spartan Group, among others. The team is being advised by industry leaders from such projects as Kyber Network and KeeperDAO. Pendle’s co-founder, referred to as TN, said his platform allows users to trade the “ever-increasing yield” offered by DeFi products…

Cathie Woods’ Ark buys a further $110M worth of Coinbase shares

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Three exchange-traded funds, or ETFs, offered by Cathie Wood’s Ark Invest, including the flagship Ark Innovation ETF, all added further shares in Coinbase Global Inc. (COIN) to their positions on Thursday, April 15. According to a report from Reuters, the Ark Innovation ETF, Ark Next Generation Internet ETF, and Ark Fintech Innovation ETF purchased a combined total of 341,186 shares, valued at $110 million at the close of trading on April 15, with each share valued at $322.75. The previous day, the three ARK funds had together accumulated 749,205 COIN shares,…

Nigeria’s SEC says central bank’s crypto ban disrupted the market

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Lamido Yuguda, the director-general of Nigeria’s Securities and Exchange Commission has said the central bank’s crypto ban has caused significant disruptions to the market. According to a report by The Guardian, the SEC director-general made this assertion known during a press conference organized after the meeting of the Capital Market Committee on Thursday. As previously reported by Cointelegraph, the Central Bank of Nigeria barred commercial banks from servicing crypto exchanges back in February. According to Yuguda, the Commission has been forced to pause its planned cryptocurrency regulatory framework announced in…

Did Elon Musk’s ‘jet fuel’ set GameStop (and Bitcoin) ablaze?

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Depending on where you stand on the GameStop saga, which saw organized retail traders extract $6 billion from Wall Street overnight, you may think someone should either take the matches away from Elon Musk, or give him more. The CEO and “Technoking” of Tesla was accused of pouring “jet fuel” on the GameStop short-squeeze at a critical moment by hedge fund manager David Einhorn, founder of Greenlight Capital, in a letter to investors published Thursday. Einhorn said Elon Musk and venture capitalist Chamath Palihapitiya were the real instigators behind the…

Turkey to ban cryptocurrency payments

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A new ban in Turkey will prohibit crypto holders from using their digital assets for payments, in addition to preventing payment providers from providing fiat onramps for crypto exchanges. According to a Friday announcement by the Central Bank of the Republic of Turkey, the ban will come into effect on April 30, rendering any crypto payments solutions and partnerships illegal. The bank stated, “any direct or indirect usage of crypto assets in payment services and electronic money issuance” will be forbidden. While banks are excluded from the regulation, which means…

Dogecoin doubles in a day as YTD gains hit 5,000%, while Bitcoin price dips

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Dogecoin (DOGE), the meme-based altcoin that has become a favorite talking point of Elon Musk, has doubled in 24 hours to hit all-time highs of $0.29. DOGE/USD 1-hour candle chart (Bittrex). Source: TradingView DOGE leaves others in the dust Cointelegraph Markets Pro and TradingView showed DOGE/USD outperforming other major cryptocurrencies by an order of magnitude on Friday. In what appears an almost unbelievable move, Dogecoin has also become the eighth-largest cryptocurrency by market capitalization, surpassing Litecoin (LTC), Chainlink’s LINK and Uniswap (UNI), among others. At the time of writing, a single DOGE was trading…

Chinese mining pools’ hash power plummets amid regional blackouts

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The hashing power of top Bitcoin mining pools located in Northwest China appears to have plummeted due to a regional blackout to enable safety inspections. The news was reported by Wu Blockchain, the author of Chinese crypto newsletter Wublock, who noted significant drops in the hash rate of several major pools — with Antpool crashing 24.5%, Binance Pool dipping 20%, BTC.com falling 18.9% and Poolin dropping by 33%. The hashrate of Bitcoin mining pools plummeted in 24 hours. Antpools fell by 24.5%, https://t.co/1YRYr58dLy fell by 18.9%, Poolin fell by 33%,…

Brian Brooks defends fintech charter to House Financial Services Committee

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Brian Brooks has defended the fintech banking charter introduced while he served as the acting comptroller of the currency after Congressional Democrats took aim at the license on Thursday. Brian appeared as a witness before the House Financial Services Committee’s Subcommittee on Consumer Protection and Financial Institutions at an April 15 hearing titled, “Banking Innovation or Regulatory Evasion? Exploring Trends in Financial Institution Charters.” The fintech charter was introduced by the Office of the Comptroller of the Currency, or OCC, and overseen by Brooks in 2020, allowing financial technology firms…