Home Cryptocurrency News Crypto SWOT: A crackdown by the Taliban has led to a collapse in cryptocurrency use in Afghanistan – Kitco NEWS

Crypto SWOT: A crackdown by the Taliban has led to a collapse in cryptocurrency use in Afghanistan – Kitco NEWS

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• Of the cryptocurrencies tracked by CoinMarketCap, the very best performer for the week was Casper, rising 21.84%.

• In Mastercard’s newest step into crypto, the bank card behemoth is leaning on a lately acquired blockchain analytics firm to do due diligence on digital belongings retailers, studies Bloomberg. The corporate is leveraging information from CipherTrace, acquired in 2021, to launch an answer that should hold Mastercard compliant with crypto regulation, the article explains.

• The European Union (EU) is trying to change views on the event of crypto laws with U.S. officers throughout subsequent week’s IMF-World Financial institution annual conferences. The EU is shifting forward with key laws to manage the crypto sector with frequent guidelines throughout all 27 member states, studies Bloomberg, marking the primary time globally that lawmakers have tried to oversee the business on such a scale.


• Of the cryptocurrencies tracked by CoinMarketCap, the worst performing for the week was Unus Sed Leo, down 11.19%.

• The expansion in Texas crypto-mining capability will probably be stunted as Russia’s warfare on Ukraine drives up world power costs and Bitcoin costs languish. Mining capability within the Lone Star State will improve by 2 gigawatts to three.5 GW by the primary quarter of 2024, moderately than the previous forecast of as much as 5 GW, writes Bloomberg.

• Executives at bankrupt crypto lender Celsius withdrew greater than $56 million of cryptocurrencies earlier than suspending buyer withdrawals from the platform. Celsius CEO Alex Mahinsky, co-founder Daniel Leon, and CTO Nuke Goldstein withdrew the cash largely from custody accounts, denominated in Bitcoin, Ether, USD and Celsius’ personal CEL token between Might and June, in keeping with paperwork filed for the Southern District of New York, Bloomberg writes.


• Modular Asset Administration’s crypto hedge fund has been shopping for tokens like Algorand and Polkadot in a wager that cash with stronger sustainability traits will outperform after a $2 trillion shakeout in digital belongings, writes Bloomberg. The Modular Blockchain Fund has additionally stepped-up purchases of Cosmos in latest weeks. CIO Daniel Liebau mentioned he’s looking for to achieve edge in uneven markets by selecting cash he believes will higher stand up to rising scrutiny of the ESG traits of crypto, the article continues.

• Cboe World Markets is making some real-time market information freely obtainable over blockchain, because the change operator makes its entry into decentralized finance. The Chicago-based agency is becoming a member of the Pyth Community, the Bounce Buying and selling Group-backed decentralized writer of crypto and different market information, as a contributor. It’ll present information on 10 equities beginning within the fourth quarter, studies Bloomberg.

• Grayscale Investments, the biggest crypto asset supervisor, is shifting technique through the midst of the market downturn by organising an entity looking for to purchase Bitcoin mining tools at distressed costs. The Grayscale Digital Infrastructure Alternatives LLC will buy the pc rigs utilized in mining and hopes to revenue by promoting the Bitcoin earned within the course of, writes Bloomberg.


• Kim Kardashian can pay $1.26 million to settle SEC allegations that she broke U.S. guidelines by touting a crypto token with out disclosing she was paid for the promotion. The SEC mentioned Kardashian was paid $250,000 to publish on her Instagram account about EMAX tokens, a crypto asset supplied by EthereumMax, writes Bloomberg.

• A crackdown by the Taliban has led to a collapse in cryptocurrency use in Afghanistan following a surge final 12 months when the nation was lower off from world banking and worldwide help. The worth of crypto acquired by the nation has fallen to a median of lower than $80,000 a month since November, down from a peak of greater than $150 million in September final 12 months simply after the Taliban swept again to energy, in keeping with a report by blockchain analysis agency Chainalysis.

• High Bitcoin mining agency Marathon Digital Holdings disclosed it has over $80 million of publicity within the bankrupt information heart agency Compute North Holdings. The overall consists of investments comprised of $10 million in convertible most popular inventory of Compute North and $21.3 million associated to an unsecured senior promissory be aware with the agency in addition to $50 million in working deposits to Compute North entities for its internet hosting providers, writes Bloomberg.

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