The daily, bite-sized roundup of cryptoasset and blockchain news – focusing on items that aren’t getting enough attention in today’s cryptocurrency headlines.
News from the mining industry
An Intel presentation scheduled for February 23rd during the International Symposium on Solid-State Computing (ISSCC) conference will outline a new „Bonanza Mine“ processor, which is described as a „ultra-low-voltage energy-efficient Bitcoin mining ASIC.“ Intel is a multinational corporation and technology company based in the United States. However, it is unclear whether Intel will make the Bonanza Mine chip available to the general public or whether it will remain a research project just for the time being. According to Tom’s Hardware, considering that the chip is listed in the „highlighted Chip Releases: Digital/ML“ track and Koduri’s statements, it’s reasonable to believe that these chips will be made available to customers in the near future, according to the company.
ISSCC is the source of this information.
With the Antminer S19 Pro+ Hyd., mining rig manufacturer Bitmain has introduced the company’s first device to incorporate liquid cooling technology in addition to greater hashpower. Approximately 5445 watts of power will be consumed by the mining machine, which will have a hashrate of 198 TH/s and a power efficiency (at 35°C) of 27.5 joules per terahash (J/TH), according to the researchers.
Adoption-related news
Milo, a financial technology firm, has announced the launch of its new crypto mortgage, which allows cryptocurrency investors to use their digital assets to acquire real estate in the United States. Milo’s clients should be able to use their bitcoins to purchase real estate and qualify for a crypto mortgage with a 30-year term.
News is exchanged.
Earlier this week, Binance announced that they have completed their 18th binance coin (BNB) token burn, removing a total of BNB 1.68 million (USD 781.6 million) from circulation. It should be noted that, unlike their prior quarterly burns, the number of tokens removed for this quarter was automatically determined based on the Auto-Burn methodology used.
The latest in the world of investments
According to Bloomberg, the investment firm Blossom Capital has secured USD 432 million to invest in early-stage technology businesses in Europe, with a third of the funds set aside for cryptocurrency investments. In a statement, they stated that they are looking to invest not just in cryptocurrency assets, but also in firms that are developing crypto infrastructure.
On January 28, the decentralized finance (DeFi) protocol Hubble Protocol announced that it has raised USD 10 million in pre-launch fundraising. They also stated that they will take advantage of this backing to grow their workforce and DeFi products into 2022.
SPACE Metaverse, a social commerce platform, has received an undisclosed strategic investment from Binance Labs, the incubator arm of the world’s largest cryptocurrency exchange, Binance. The initiative enables users to create their own virtual commerce places for a variety of industries, including gaming, arts, fashion, music, and more.
Yesports, an esports engagement platform, said today that it has raised USD 2.25 million in an oversubscribed seed round backed by investors such as Polygon Studios, Alphabit, Kernel Ventures, and Cosmos Capital. The funds raised will be utilized to further the development of their non-fungible token (NFT)-based esports marketplace and esports-focused metaverse, both of which are currently under development.
Balthazar, an NFT gaming platform, raised USD 3 million in their initial token sale at a valuation of USD 30 million. They also opened a private token sale round, which raised USD 8 million and will close next month.
OlympusDAO, a decentralized reserve currency, has teamed with the DeFi protocol Balancer to transition its liquidity to the Balancer Protocol, which is now in beta testing. Using Balancer’s Liquidity Bootstrapping Pools (LBPs), Olympus Pro partners can undertake first fundraising in OlympusDAO’s native token OHM, which has lost nearly 70% of its value in a month due to market volatility.
Regulation-related news
When it comes to dealing with the issues posed by cryptoassets, Indian Prime Minister Narendra Modi has called for international cooperation. The disruption of supply chains, inflation, and climate change were all compared to cryptocurrency by the author, who advocated for more coordinated, collaborative action.
To bring cryptocurrency promotion within the scope of financial promotions legislation, the UK government intends to amend the Financial Promotions Act. This will subject the promotion of qualifying cryptoassets to Financial Conduct Authority (FCA) rules, which will be in line with the same standards that are applied to other financial promotions such as stocks, bonds, and insurance products. According to the release, this is intended to limit the risks of consumer harm by ensuring that consumers have access to the proper information to make informed investment decisions.
Security-related news
Cross-chain bridge is a type of bridge that crosses two chains. Users who did not update their approvals as advised have been exploited, according to Multichain, and have lost a total of 445 wrapped ether (WETH) (USD 1.4m). The project had sent a warning to its users, advising them to revoke authorization for six tokens, lest their funds be exposed to a potential security flaw.
The latest in the world of work
Bitpay, a cryptocurrency payment services provider, has appointed Jim Lester as the company’s first Chief Operating Officer (COO). Lester will be responsible for directing the company’s blockchain product development. The former position of CEO and board director of ThingTech, where he was responsible for the overall strategy execution of the company, was held by Lester before to this.
