The last-minute cryptocurrency provisions added to the United States infrastructure bill sought to “capture DeFi,” argues Compound general counsel Jake Chervinsky. Appearing on the Bankless State of the Nation podcast on Tuesday, Chervinsky — who is also DeFi chair of the Blockchain Association — said the industry had been “blindsided” by the infrastructure bill’s crypto tax provisions that were announced just nine days prior to when it was expected to pass through the Senate. While Chervinsky seemed willing to give most elected officials the benefit of the doubt, noting that previous discussions surrounding the infrastructure bill had “nothing to do …

Amid the looming Ethereum London hard fork, Pantera Capital CEO Dan Morehead predicted that the upcoming upgrade would likely help Ether (ETH) outpace Bitcoin (BTC) as the largest cryptocurrency. As a newer cryptocurrency, Ether has more potential than Bitcoin, Morehead said at the Reuters Global Markets Forum on Monday, noting that the latest Ethereum Improvement Proposal (EIP) 1559 upgrade will help the digital token to trade more like a fixed asset. One of five EIPs in the Ethereum London upgrade, EIP-1559 is an anticipated update to Ethereum’s existing fee structure, introducing a minimum payment for sending Ethereum transactions and move …

Large price jumps and 100x gains get a lot of attention from pundits and influencers in the cryptocurrency community because they offer the hope of overnight riches. In reality, these opportunities are few and far between. Not to mention, only a handful of traders actually manage to catch these waves and cash out in time to lock in life-changing money. Fortunately, catching a large price surge is far from being the only way for crypto investors to make a buck, and the recent rise of decentralized finance (DeFi), nonfungible tokens (NFTs) and the slow march of mainstream crypto adoption provides …

For luxury brands, usual business and marketing practices work upside down. While other businesses aim to scale, optimize and become accessible — luxury brands are supposed to be a cold and beautiful dream, causing admiration and (rarely fulfilled) desires of ownership. Building a luxury brand takes generations of storytelling, and the skill of maintaining a fragile balance between making profits and remaining exclusive, one-of-a-kind perfection. This paradigm has shifted with the trends of the modern era, in which a successful business should be data-driven and community-driven. Digitalization aims to democratize everything from finance to art, and luxury brands need to …

Ethereum 2.0 (Eth2) is being pegged as the blockchain Messiah of Ethereum. Newsflash: it's not. The long-awaited changes are not expected to solve core issues that are plaguing the network and forestalling wider adoption. Vitalik Buterin, the brilliant mastermind behind the Ethereum blockchain, considers the personnel working with Ethereum as a bigger problem than the actual software, as he stated in a recent interview with Forkast news. While the personnel working on the project may or may not be problematic, it's surely not the only shortcoming. As promising as the new rollout may seem, the kind of software upgrades set …

The crypto markets are as volatile as ever — and now, a major trading platform is making it easier to have “diamond hands.” eToro supports staking, which means that those who purchase and hold supported cryptocurrencies on its platform have a way of growing their capital. According to the platform, the mechanism that’s used to achieve this is not dissimilar to the way that interest accrues in a savings account. With many people beginning to gain exposure to crypto for the first time, eToro says it aims to ensure that the staking process is “simple, secure and hassle-free.” Any rewards …

Bitcoin’s reliance on large-scale mining infrastructure and geographic concentration has been thrown into sharp relief by China’s recent mining crackdown. In May, China announced that it would be getting tough on crypto mining and trading as a response to financial risks. The nation’s crackdown on crypto is not new, rather it's a reiteration of previous standings on the risks of digital currency to economic stability, in response to recent price fluctuations. For the first time, cryptocurrency miners are being targeted to enforce the existing guidelines. Mining hardware still presents a potential risk, even if mining moves to other locations. This …

Jax.Network is a sharded proof-of-work blockchain anchored to the Bitcoin network on which two coins are mined: JAX and JAXNET (JXN). JXN is mined on the Jax.Network beacon chain, whereas JAX is mined on its shard chains. JXN coin mining produces a fixed number of reward coins (20 coins per block), making it a speculative asset that reflects the value of the Jax.Network payments ecosystem. It is used to incentivize Bitcoin miners to merge mine Jax.Network and defend the beacon chain, to pay for gas fees for decentralized exchange agent listings and other transactions, and more broadly to serve as …

A proposed crypto mining ban calling for a forced three-year hiatus on all mining operations in New York has been watered down — and will now allow green projects. The bill passed in the senate on June 8, and has now been referred to the state assembly. If the bill is passed in the assembly, it will be delivered to Governor Andrew Cuomo to either approve or veto the proposed legislation. The initial New York Senate Bill 6486A sought to halt all crypto mining for three years in order to conduct environmental impact reviews on mining operations in the tri-state …

Elon Musk captured the world’s attention when he declared that Tesla would no longer accept Bitcoin as a payment method, citing the blockchain’s environmental impact. Although this thrust the debate about cryptocurrencies and the climate into the spotlight, this has been an issue that has been rumbling on for many years. Bitcoin’s proof-of-work consensus mechanism is exceedingly energy intensive, and it seems to be a problem that’s only getting worse — with vast data centers established as miners vie to get their hands on a supply of new coins that has dwindled further since the 2020 halving. The latest figures …

Ethereum co-founder Vitalik Buterin thinks that crypto is in a bubble and that the energy debate swirling around Bitcoin (BTC) mining requires the blockhain to embrace technological change. Buterin spoke with CNN on Tuesday, noting that "We've had at least three of these big crypto bubbles so far." He added that it could have ended already, or it could end months from now. i like this kid https://t.co/4wRBuwSObQ — Dmitry ButΞrin (@BlockGeekDima) May 20, 2021 The 27-year-old didn’t comment on whether the recent crash that sent Bitcoin down to around $30,000 was an indicator of the crypto bubble ending, but …

Bitcoin (BTC) dived 17% when Tesla CEO Elon Musk criticized its energy consumption — but it’s already bouncing back. On Thursday, fresh from its dip to $45,600, BTC/USD is trading above $51,000, having regained over half its lost ground. With the drama still spreading, Cointelegraph considers why, on a fundamental level, Bitcoin is ultimately resilient to the actions of a single user — no matter how influential they are. Proof-of-work doesn’t care Bitcoin’s proof-of-work algorithm rewards both miners and investors over time because their years of work make the network stronger. The longer Bitcoin continues, the less likely it is …