The Digital Assets Report 85
Business
Mining
- Bitcoin difficulty increases of 9.26%, the highest since January 2022, with an average hashrate of 221.72 EH/s, close to all-time-high.
- US bitcoin corp, Genesis Digital Assets, Marathon Digital Holdings, Blockware announce new mining farms in US.
- Last month, miners in Texas suspended operations to help the energy grid and conserve energy during a heatwave.
- Mining rigs prices have been divided by 3 since January 2022, according to Luxor Mining’s Hashrate Index data, hashprice ended August at $0.08.
- Riot Blockchain mined 28% less Bitcoin in July and earned $9.5 mio in power credits.
- With energy crisis and Bitcoin price low, crypto mining business are adapting their revenue models to combine energy trading and Bitcoin mining.
- Renewable energy like solar and hydro are championing cheap energy costs and allowing for a new generation of long term mining to emerge.
Poolin, One of the Largest Bitcoin Mining Pools, Suspends Withdrawals From Wallet Service
Yesterday, the mining pool admitted to liquidity issues.
Eliza Gkritsi
Ethereum Classic Jumps Nearly 12% as Hash Rate Hits All-Time High - Decrypt
Ethereum Classic has enjoyed yet another boost ahead of the upcoming merge event as the network’s hash rate booms.
Sujith Somraaj
Crypto Exchanges
- Indonesia to Establish 'Crypto Stock' Exchange by end of 2022.
- Crypto.com has made one of his biggest mistake in May 2021, the company realised the issue in December 2021 after an audit.
Crypto.com accidentally sends woman $10 million instead of $100. She went and bought a mansion.
Cryptocurrency exchange Crypto.com mistakenly deposited $10.5 million directly into a woman’s bank account when the platform only intended to give her a $100...
Weston Blasi
- Mt. Gox, a popular Bitcoin exchange that collapsed 8 years ago after being hacked, has announced it will start repaying former users in "due course." Customers have until September 15 to make or transfer a claim.
BlackRock to Use Kraken Subsidiary for Crypto Offering
The asset manager will use CF Benchmarks’ bitcoin index.
Michael Bellusci
- Coinbase Gets Hold-Equivalent Rating From Barclays on Crypto Regulatory Risk.
Banks
- JPMorgan Asset Management’s chief global strategist, David Kelly :
The Federal Reserve is overestimating the strength of the U.S. economy as it feels guilty about the fact that inflation went up under their watch.
JPMorgan Advises Investors to Sell Crypto, Buy Value Stocks — Says the Fed Overestimates Strength of US Economy – Markets and Prices Bitcoin News
JPMorgan’s strategist has advised investors to focus on valuations, sell crypto, and steer clear of bitcoin.
Kevin Helms
Credit Suisse Held $31M in ‘Digital Assets’ for Clients Last Quarter
The Swiss bank disclosed its custody of what are more likely tokenized securities than cryptocurrencies in keeping with SEC accounting guidance.
Danny Nelson
Brazil’s central bank picks Itaú DeFi project among new innovation proposals
Brazil’s central bank picked eight new projects to advance through its LIFT Lab, including a DeFi staking pool from Itaú Unibanco.
NFT
- A partnership between Ticketmaster and Dapper Labs' Flow blockchain will enable event organizers to issue NFT for live events.
- Meta allows post NFTs on both Facebook and Instagram.
- LG Electronics, the Seoul-based television company launched a NFT platform.
Ticketmaster Partners With Blockchain Firm Dapper Labs to Issue NFTs for Live Events
The ticket giant recently added a digital wallet feature and marketplace to its website.
Elizabeth Napolitano
Meta announces Facebook and Instagram users can post NFTs from digital wallets
Meta said its social media platform Facebook’s roughly 2.9 billion users will have the ability to share digital collectibles and NFTs.
Turner Wright
- A16z wants to standardize NFTs by providing license for tokens.
The Can’t Be Evil NFT Licenses
Introducing a set of free, public “Can’t Be Evil” NFT Licenses, designed specifically for NFTs and inspired by the work of Creative Commons.
Markets
Crypto Chart 79
Bitcoin Last time we said : ‘Buy now with stops below the 17600 line in the sand level for the bullish outlook. A break above 20200 followed by an hourly close above the red trend channel will confirm the uptrend has resumed.’ We traded to 20520 but failed to gain
- Derivative volumes of Ether surpass Bitcoin ahead of the Merge, ether futures crossed $1 trillion for the first time since May 2021 during August, clocking in at $1.64 trillion.
Ether derivatives smash milestones left and right as The Merge looms
August was a big month for Ethereum as the blockchain prepares for The Merge in September.
ETH Merge: CoinGecko co-founder shares strategy for forked tokens
CoinGecko co-founder Bobby Ong said that his strategy for forked tokens is to immediately sell as almost all forked tokens die off.
Ezra Reguerra
Regulations
- IMF is calling for a comprehensive global regulation, to fill regulatory gaps with consistency between jurisdiction.
Regulating Crypto
The right rules could provide a safe space for innovation
ADITYA NARAIN is deputy director of the IMF’s Monetary and CapitalMarkets Department.
UK forces crypto exchanges to report suspected sanction breaches
New rules in response to Russia’s invasion of Ukraine cover all notionally valuable digital assets
Jasper Jolly
Crypto Lawyer Kyle Roche Pulls Out of Lawsuits Against Tether, Binance and Others - Decrypt
The high-profile attorney says videos of him released this week are part of a “deliberate scheme to intoxicate, and then exploit me.”
Mat Di Salvo
Reading / Podcasts
How Bitcoin Mining Can Transform the Energy Industry
Bitcoin miners are uniquely flexible energy consumers that can help solve some of our biggest energy problems. Learn more in our new report.
Bitcoin
The Merge is Near | ConsenSys
The Merge is Near | ConsenSys
