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New findings reveal that Bitcoin usage may have a smaller carbon footprint than the classical banking system.   Bitcoin's popularity has skyrocketed within the last few years as more institutions turn to cryptocurrency and the solutions it provides. However, despite its numerous advantages, the king crypto has come under fire for its massive energy consumption rates. The digital coin reportedly uses 122 TWh of electricity per year, more than is used by some countries, such as Finland.  How BTC’s Power…

Leading crypto exchange Huobi has started winding down operations in its Thai branch. The exchange announced today, noting that the Thai Securities and Exchange Commission (SEC) revoked its license. As a result, Huobi Thailand plans to shut down operations on July 1, 2022. According to the announcement, the Huobi Thailand team has been trying to contact customers since September last year. The outreach sought to get customers to withdraw their funds from the platform. Additionally, the exchange has put up…

Binance CEO Changpeng Zhao - commonly known as CZ - believes nothing is wrong with the crypto market despite the recent meltdown. In an interview with Bloomberg, the crypto executive said it is normal for markets to go up and down. To this end, he claims the crypto market is showing normal behavior. According to CZ, fluctuations are common in markets. He pointed out that equity markets are also facing wild price swings. He highlighted Netflix, saying the company’s stock,…

US-based internet media company Yahoo has launched a series of metaverse events in Hong Kong. The firm announced this news on Wednesday, noting that this move seeks to connect the region’s residents amid fresh COVID restrictions. Per the announcement, this event will see Yahoo hold virtual concerts and exhibitions on Decentraland. Decentraland is a popular metaverse platform that hosts the virtual worlds of several renowned companies. Examples include Samsung, Adidas, Atari, and PWC, to mention a few. Additionally, Decentraland hosted…

Christie Goldsmith Romero of the Commodities and Futures Trading Commission (CFTC) called for urgent regulation of crypto markets on Tuesday. Her previous experience at the SEC and Treasury leads her to believe that crypto today shares some similarities to 2008. Comparing Crises During an interview with Axios, the commissioner noted that crypto’s first similarity to 2008 is its large, unregulated market. The crash 14 years ago was prominent by “shadow banks” – institutions that operated like banks, but without traditional…

Kraken CEO Jesse Powell recently affirmed that Kraken is at no risk of suffering any Celsius-style debt or liquidity crises. Rather, his exchange will stand out as one of the few that hire and stack Bitcoin during the bear market. Kraken: Staying Humble, Stacking Sats On Monday, a Twitter user asked Powell whether customers should fear any “risk of contagion” from bad debt in the crypto ecosystem. On Monday, crypto lending platform Celsius announced that it would freeze customers’ funds…

Web3 analytics firm Nansen released a targeted rival app to Discord on Wednesday. The new product, Nansen Connect, a messaging app, was created to serve web3 communities' communication needs. It will be accessible to wallet holders and will use Nansen's existing information database to enhance user experience for a predominantly crypto audience.  The blockchain analytics company Nansen Limited made the announcement in a blog post earlier today. It stated that Connect would leverage wallet-labels, a Nansen initiative for identifying blockchain…

Microsoft co-founder Bill Gates has once again expressed his loathe for digital assets, this time factoring in non-fungible tokens (NFTs). Speaking at the Techcrunch Sessions: Climate event in Berkley, California, Gates said he is not a fan of crypto and NFTs. Specifically, the American Business Magnate said cryptocurrencies and NFTs are 100% based on the greater fool theory. The greater fool theory refers to the idea of someone making money by buying overvalued assets and selling them for a profit…

If you were familiar with the meme-coin craze, you have likely heard of POODL. It is one of the oldest meme coins in the market whose story is rather impressive. Like many other meme coins, a developer created POODL, then did a pump-and-dump scheme on the initial token holders. Attempted to run away with the profits but the community rescued the token. The community behind this project believed in its potential and took action to revive it. From forming an…