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Godfrey Mwirigi

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EU Parliament Nods to Crypto Mining for MICA Law
Sustainable Bitcoin Mining Power Mix Hits 59.5%

The share of renewable energy used for Bitcoin mining has increased to 59.5%. The BTC Mining Council is also working on increasing transparency in the Bitcoin mining industry. More information on the energy efficiency of Bitcoin mining was shared in the BMC’s YouTube briefing. According to a report from the BTC Mining Council, the share of renewable energy used for Bitcoin mining has increased to 59.5%. This is a significant increase from the group’s last report in March when the renewable energy mix was at just 42%. The council, which was formed earlier this year by some of the biggest

3 mins read
Singapore Plans to Broaden Crypto Regulations After Shakeout
Singapore Plans to Broaden Crypto Regulations After Shakeout

Singapore is a popular location for cryptocurrency companies. Recent market events clearly demonstrated the risks with prices of several cryptocurrencies dipping significantly. Singapore’s government plans to tighten restrictions on retail investment in cryptocurrencies. Following a string of difficulties including Terra 3AC Babel Vauld, the Singapore government plans to tighten restrictions on retail investment in cryptocurrencies, aligning with global authorities and expanding regulation coverage. The Monetary Authority of Singapore (MAS) said in a statement that the new measures are intended to “strengthen investor protection and safeguard the integrity of the financial system”. Singapore is a popular location for cryptocurrency companies due

2 mins read
Crypto Exchange Gemini Lays off an Additional 7% Of Its Staff
Crypto Exchange Gemini Lays off an Additional 7% Of Its Staff

Gemini has laid off more employees in the second round of layoffs. The crypto market has been through a tough few months. Winklevoss is certain that Gemini will survive and thrive in the crypto sector. After terminating nearly 10% of staff some time back owing to “turbulent market conditions’”, crypto exchange Gemini has laid off more employees in the second round of layoffs. According to TechCrunch, the company laid off 7%, or 68 employees, in the second round on Monday. The move is part of the company’s “restructuring” process, which it began in October. In an email to staff, co-founder

2 mins read
India’s-Central-Bank-Seeks-to-Ban-Cryptocurrencies-in-India
India’s Central Bank Seeks to Ban Cryptocurrencies in India

he Government of India wants to ban cryptocurrencies in the country. FM Sitharaman told the parliament that the RBI was concerned about the effects of crypto in the country. Earlier this year, India imposed 30% tax on crypto transactions and profits. The turmoil of cryptocurrency has been rising in India after its government said the central bank of India demanded cryptocurrencies to be forbidden in the country.  On Monday, India’s finance minister Nirmala Sitharaman told the parliament that the Reserve Bank of India has suggested “framing the legislation” on the crypto sector and was looking to “prohibit” cryptocurrencies. The statement

2 mins read
McCaleb-Empties-XRP-Wallet-After-8-Years-Selling-off
McCaleb Empties XRP Wallet After 8 Years Selling off

After many months of waiting, Jed McCaleb finally emptied out the XRP wallet.  The wallet contains a total of 18.6% of XRP’s circulating supply  The price of XRP temporarily halted its recovery ahead of the Ripple June 7 hearing. According to blockchain researcher XRP Scan, Jed McCaleb emptied his last XRP wallet on May 19. The former Ripple CTO and co-founder had been gradually selling off his 9 billion XRP since 2014. At current prices, that would be worth over $2.6 billion. This sell-off had been a cause of concern for the XRP community. Many worried that it would put

2 mins read
Ethereum,-BNBChain,-or-Solana-How-are-L1s-handling-the-Bear-Market
Ethereum, BNB, and Solana: How are L1s handling the Bear Market?

The bear market has been tough on all cryptocurrencies, but some have held up better than others. All three platforms have seen a reduction of up to 58.8%  Each platform has different use cases that have helped them weather the storm of the bear market. When it comes to layer-1 (L1) smart contract platforms, three major players currently dominate the landscape — Ethereum, BNB Chain, and Solana. The bear market on the other side has been tough on all cryptocurrencies, but they, fortunately, have held up better than others. We discovered that all three platforms have seen a significant drop

2 mins read
Andorra-has-approved-regulatory-framework-for-Bitcoin
Andorra Approves Bitcoin Regulatory Framework

Andorran government approves regulatory framework for Bitcoin and other digital currencies. The government of Andorra seeks to establish itself as a center for Bitcoin firms. Andorran Regulations set to develop the nation as a fintech and digital business powerhouse.   The government of Andorra, one of the tiniest microstates in the world, wants to establish itself as a center for Bitcoin firms. In order to clarify their legal status and encourage private investment in this microstate, the Andorran government has adopted a legislative framework for Bitcoin and other digital currencies. The General Council of the Principality of Andorra enacted the

3 mins read
Bitcoin Halving: Why Bitcoin Halving Matters
Bitcoin Halving: Why Bitcoin Halving Matters

A Bitcoin halving occurs when the mining incentive for Bitcoin transactions is cut in half. Analysts are counting the days before the fourth halving event of BTC. Halving maintains steady and predictable supply new BTC entering the market.   Bitcoin halving is an event where the bitcoin blockchain reward gets cut in half. This happens roughly every 4 years. The last Bitcoin halving occurred on 11th May in the year 2020. In a post on Twitter today, Lark Davis tweeted saying that there are 684 days left until the next Bitcoin halving which is expected to occur on  April 4, 2024.

2 mins read
Cryptocurrency Is Said To Be Skeptical, Why?
Cryptocurrency Is Said To Be Skeptical, Why?

Why people are so skeptical about digital currencies? Crypto is no longer in the early adoption stage. El Salvador, the first country to recognize Bitcoin as legal tender, now has 2,000 BTC holdings. The crypto market began in the year 2009 with the launch of Bitcoin(BTC) and has since seen a meteoric rise in popularity. In the last decade, we have witnessed the birth of more than 5,000 different digital assets with a total market capitalization that now exceeds $2 trillion. Despite this incredible growth, there is still a great deal of skepticism surrounding cryptocurrencies. This made CZ post on

2 mins read
US-SEC-Commissioner-Allison-Lee-Steps-Down
US SEC Commissioner Allison Lee Steps Down

SEC Commissioner Allison Herren Lee Announces Departure (Sorta). Lee was sworn in as an SEC Commissioner on July 8, 2019. Allison has been a stalwart advocate for strong and stable markets Allison Herren Lee stepped down from her position as the Commissioner of the Securities and Exchange Commission (SEC). Lee announced her planned departure in March of this year with plans to take up a visiting professorship in Italy. According to the New York Times, she had delayed the opportunity to take a seat on the Commission in 2019. .  Prior to serving as a Commissioner, Lee spent over a

2 mins read
Coinbase-temporarily-shutting-down-US-affiliate-marketing-program
Coinbase “Temporarily Shutting Down” US Affiliate Marketing Program

Coinbase is “temporarily shutting down” its US affiliate-marketing program The exchange is still promoting its platform in other ways, including on social media. Coinbase has been one of the most active exchange in the cryptocurrency industry Coinbase is “temporarily shutting down” its US affiliate-marketing program effective July 19th, 2022 “due to crypto market conditions.” The move may therefore affect Coinbase’s ability to drive new customers to its platform through existing ones. The report cited an email sent by Coinbase to its affiliates. In the email, Coinbase said that it would no longer pay out commissions for new customers starting July

2 mins read
Putin-Signs-Bill-Outlawing-Cryptocurrency-Payments-in-Russia
Putin Signs Bill Outlawing Cryptocurrency Payments in Russia

Russian President Vladimir Putin signed a bill that bans the use of digital financial assets. Russians will not be allowed to use digital assets to pay for goods and services. Digital asset exchanges will have a given time to comply with the new law. According to Russian business media outlet RBC, Russian President Vladimir Putin signed a bill that bans the use of digital financial assets (DFA) such as Bitcoin and digital utility rights (DPR) as a method of payment in Russia. After being published in the government’s gazette, the legislation will go into effect 10 days later. The bill

2 mins read