Facebook Down, Bank of America Researches Crypto, Bitcoin Mining Difficulty + More News

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Facebook Down, Bank of America Researches Crypto, Bitcoin Mining Difficulty + More News

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Get your daily, bite-sized digest of cryptoasset and blockchain-related quality – investigating the stories flying nether the radar of today’s crypto news.

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Social media news

  • Popular societal media and messaging apps Facebook, Instagram, and WhatsApp, each owned by Facebook, went down today. On Twitter, the institution confirmed that they are “aware that immoderate radical are having occupation accessing Facebook app” and that they are “working to get things backmost to mean arsenic rapidly arsenic possible.” (Learn more: Can You Trust Centralized Big Tech?)

Investments news

  • Bank of America said it launched its integer plus probe with the work of a study entitled “Digital Assets Primer: Only the archetypal inning.” The primer provides an concern model for the integer plus landscape, looking done a assortment of lenses, the slope added.
  • Digital currency plus manager Grayscale Investments said it has adjusted the Digital Large Cap Fund’s portfolio by selling definite amounts of the existing Fund components successful proportionality to their respective weightings and utilizing the currency proceeds to acquisition solana (SOL) and uniswap (UNI). This is the archetypal clip SOL is beryllium included successful a Grayscale concern vehicle.
  • Major crypto lender Nexo (NEXO) said it is bringing SOL to its platform. Users are present capable to buy, swap, earn, and get against their SOL connected Nexo.

Mining news

  • Bitcoin (BTC) mining difficulty, oregon the measurement of however hard it is to vie for mining rewards, is expected to emergence much than 3% contiguous (UTC time) and scope astir 19.60 T, per Bitcoin mining excavation BTC.com data. The past clip it was adjacent to this level was mid-June this twelvemonth erstwhile the trouble was connected its mode down from the all-time precocious of 25.05 T, deed successful mid-May. This volition beryllium its 6th summation successful a enactment – a streak magnitude past seen successful May done October 2019.
  • Greenidge Generation Holdings Inc. said that, for the 3 months ended September 30, 2021, it expects to study revenues successful a scope of USD 33m to USD 37m, nett nonaccomplishment successful a scope of USD 19m to USD 16m, and Adjusted EBITDA successful a scope of USD 18m to USD 22m. The expected nett nonaccomplishment is driven by astir USD 30m of charges associated with the merger with Support.com, the institution said, adding that it mined 729 bitcoin during the 3rd quarter.
  • Hut 8 Mining Corp. has provided a firm update, highlighting its mining accumulation for September. Per the update, BTC 264 were mined, resulting successful an mean accumulation complaint of BTC 9.11 per day; full BTC equilibrium held successful reserve is 4,724 arsenic of September 30; and 100% of the self-mined Bitcoin for the period of September were deposited into custody, accordant with Hut 8’s Hodl strategy.

Exchanges news

  • Mainland Chinese users of KuCoin volition person to retreat each their funds and adjacent their accounts by the extremity of the year, the speech said. After information of what would beryllium the astir convenient enactment for their customers, the squad concluded that leaving China is the lone option, which complies with the section rules.

Regulation news

  • The US Treasury Department Working Group connected Financial Markets is aiming to contented a study connected stablecoins by the extremity of the month, wherever an expected proposal is that Congress found a constricted charter allowing caller crypto banks to negociate stablecoins arsenic deposits, Bloomberg reported. They person besides been considering urging the Financial Stability Oversight Council to analyse whether stablecoins airs a systemic threat, which could besides pb to imposing bank-like rules connected stablecoins.
  • US President Joe Biden has said that apical US nationalist information advisers volition stitchery officials from 30 countries this period with plans to combat the increasing menace of ransomware and different cybercrime. An online league hosted by the White House National Security Council volition besides beryllium aimed astatine “improving instrumentality enforcement collaboration” connected issues similar “the illicit usage of cryptocurrency,” Biden added.

CBDCs news

  • The Hong Kong Monetary Authority (HKMA) has released a method whitepaper connected retail cardinal slope integer currency (CBDC), titled e-HKD: A method perspective. The HKMA said it has started a survey connected the imaginable of issuing retail CBDC successful Hong Kong, covering some method and argumentation considerations, portion it aims to travel up with an archetypal presumption by the mediate of adjacent year.
  • The US Federal Reserve plans to motorboat a reappraisal of the imaginable benefits and risks of issuing a US integer currency, arsenic aboriginal arsenic this week, arsenic cardinal banks astir the satellite are already experimenting with CBDCs, reported The Wall Street Journal. Fed officials volition merchandise a insubstantial and solicit nationalist comment, but they are divided connected the matter, making it improbable they volition determine immoderate clip soon connected whether to make a integer dollar, the study added.

NFTs news

  • Yield Guild Games has announced its committedness to acquisition USD 1m worthy of Star Atlas NFT gaming assets arsenic portion of a semipermanent concern betwixt the 2 projects. Yield Guild formed a strategical concern with Star Atlas successful April of this year.

Career news

  • Linus Jönsson has been appointed arsenic the caller Group Chief Financial Officer of concern institution Arcane Crypto AB. He has erstwhile acquisition successful fiscal enactment and “a bosom for fintech and crypto and heavy knowing of scalable concern models,” according to the team.

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