Billionaire Novogratz Invests in Cryptocurrency Firm Bitfury (Bloomberg) Mike Novogratz’s Galaxy Digital has joined Naver Group of Korea in an $80 million round of funding for Bitfury. The company “sells gear used to mine cryptocurrencies and develops blockchain technology for clients including the Ukrainian government,” notes Bloomberg’s Ruben Munsterman and Ruth David. That puts its valuation above $1 billion. “If it conducts the IPO in the next two years, Bitfury will seek a valuation of $3 billion to $5 billion,” concluded Munsterman and David. Quantification of energy and carbon costs for mining cryptocurrencies (Nature) Another day, another Nature study on the impact of cryptocurrency mining. A week ago, the…
If cryptocurrencies traded on a physical market, this is what it would look like right now (via Wikipedia)Cryptocurrency markets get a big slap in the face
Tens of billions in value lost—here’s why
The world’s crypto markets took a collective dive, and it all started while you were sleeping. The cross-currency crash began just after 4 a.m. on Wednesday, September 5, and it touched every token you can name. At the time of this writing, Bitcoin is barely above $6,000. Ether is down 23 percent to $220. Bitcoin Cash, XRP, and Litecoin all took substantive hits. Even DogeCoin is down. Where Tuesday’s crypto market capitalization was around $240 billion, it was about $217 billion less than 24 hours later. So what’s the deal? There are two pieces of information to help us understand this drop. First, Goldman Sachs has downplayed its plans to…
Must-reads for September 4, 2018: The Mueller Bitcoin connection, un-Lady-like behavior, wasted crypto energy, and more
Here are the crypto stories you should be watching today
Bitcoin Suspect Could Shed Light on Russian Mueller Targets (Bloomberg) Remember the name Alexander Vinnik? He ran BTC-e, the cryptocurrency exchange that appeared all too willing to launder money for Bond villain-type characters. He was taken down by FinCEN, with the help of the IRS, and now sits in a Greek prison. Some of the bitcoins Vinnik allegedly helped launder belonged to a Russian hacking unit now under investigation by special counsel Robert Mueller. See? It’s all connected. The baroness, the ICO fiasco, and enter Steve Wozniak (Financial Times) Michelle Mone, aka Baroness Mone, of Mayfair in the City of Westminster, OBE, sits in the British House of Lords…
The dream of the 1890s is alive in crypto. "I"m so authentic, I get my crypto news printed on newsprint before I read it." (via Pixabay)Must-reads for August 30, 2018: Ethereum’s Lubin talks Tether, EU considers regulations, and more
Here are the crypto stories you should be watching today
Ethereum cofounder defends Tether against manipulation accusations (Yahoo Finance) Tether is often accused of being printed without assets to back and then used as a tool to manipulate bitcoin price. Joe Lubin, who now runs Brooklyn-based Consensys, isn’t a Tether skeptic. “Based on our analysis, which involves just talking to a bunch of people in the space, we do believe that tethers are backed 1 to 1 by U.S. dollars in bank accounts. But it’s still not 100 percent solid in terms of a story from my perspective. I expect may other price-stable tokens will arise and take it place. MakerDAO’s dai is doing incredibly well. It’s a mechanism that…
