Bitcoin News and Finance: What You Need to Know

A new type of airdrop has been very popular during the last quarter of 2021 as quickly assembled decentralized autonomous organizations (DAOs) have been distributing lots of value to existing crypto users. Just recently, Opendao gave Opensea users an airdrop and many people accrued thousands of dollars in SOS tokens. Now, another project called Gas DAO is airdropping tokens to any wallet that’s paid more than $1,559 in ether gas fees before December 26. Gas DAO Airdrops Tokens to Users That Spent $1,559 in Ether Fees Before the Snapshot A lot of projects this year have created airdrops as a way to create a governance system, and people who have used these protocols at least once are usually rewarded with these airdropped governance tokens. In recent times, Bitcoin.com News reported on Shapeshift dissolving into a DAO, and the project airdropped FOX tokens to Shapeshift users. During the first week of November, our newsdesk also covered the Ethereum Name Service (ENS) airdrop when ...

At the end of May, crypto advocates discovered a website created by the video game retailer Gamestop. The web portal disclosed that Gamestop was entering the world of blockchain tech and non-fungible token (NFT) assets. Gamestop’s NFT web portal has recently been updated and is requesting creators to sign up for the platform. Gamestop NFT Website Hints at Upcoming Marketplace Launch Gamestop (Nasdaq: GME ) has had an interesting year, to say the least. It all started at the start of the year in January, when the Reddit forum r/wallstreetbets sparked a Gamestop shares trading war with Wall Street hedge funds. At the time, Goldman Sachs executive David Kostin said “if the short squeeze continues, the entire market could crash.” After the Wallstreetbets fiasco fizzled out of the limelight, Gamestop has managed to remain relevant after facing bankruptcy, and shares traded for $19.26 per unit on December 30, 2020. Today, those same GME shares are swapping for $146.46 per unit, up 655.73...

While the crypto economy shed billions in value this week, 18 different digital assets have accrued double-digit gains during the last week. At the same time, the top two leading crypto assets by market capitalization, bitcoin and ethereum, have lost between 2.8% to 6.2% in value in seven days. 18 Crypto Assets See Values Increase by Double-Digits Bitcoin (BTC) and ethereum (ETH) have lost a bit of value according to weekly statistics, and a number of alternative digital assets have done a whole lot better. Today, the crypto economy is worth $2.36 trillion and it is down 2.9% during the last day. BTC has shed 2.8% in value during the last seven days, and ETH has lost 6.2% since last week. However, 18 crypto tokens have accrued double-digit gains against the U.S. dollar this past week. For instance, Sushiswap’s decentralized exchange (dex) token sushi (SUSHI) has gained 67% during the last seven days. Near (NEAR) jumped 57.8%, fantom (FTM) climbed 49.6%, and oasis network (ROSE)...

India’s central bank, the Reserve Bank of India (RBI), says a basic central bank digital currency (CBDC) model must be adopted initially and tested comprehensively to minimize the impact on the country’s monetary policy and banking system. The Indian apex bank sees several benefits in launching a digital rupee, including “a potential to enhance the efficiency of cross-border payments.” RBI Outlines Benefits of Issuing Digital Currency and How to Launch a CBDC With Minimal Impact The Reserve Bank of India (RBI) released its “Report on Trend and Progress of Banking in India 2020-21” Tuesday. The 248-page report has a section on central bank digital currency. “In its basic form, a central bank digital currency (CBDC) provides a safe, robust, and convenient alternative to physical cash,” the Indian central bank described, adding that “Depending on various design choices, it can also assume the complex form of a financial instrument.” The RBI continued: In comparison with existing for...

Electricity shortages have been dogging Kazakhstan’s booming crypto mining industry this year. A media report reveals that some miners, including some of those that moved in amid China’s crackdown on the sector, are now looking to relocate to destinations with a more stable energy supply like the United States. Miners Shut Down Crypto Farms Due to Kazakhstan’s Issues With Power Generation Kazakhstan has become a crypto mining hotspot since China launched a government offensive against bitcoin miners in May. The Central Asian nation maintains capped electricity rates and is a major producer of fossil fuels. However, its neglected infrastructure and insufficient generation capacities have failed to meet the rapidly rising demand for electricity needed to power the energy-hungry coin minting facilities. Authorities have blamed the growing deficit — consumption surged by 7% in the first three quarters of the year — on the mushrooming mining data centers , and lawmakers have proposed ...

Rising cryptocurrency use in Africa over the past few years has not only shown that digital currencies are now a vital means of moving funds across borders and between people, but that cryptocurrencies are also an important means of accessing global markets for the financially excluded. Cryptocurrency Now a Necessity Despite ongoing efforts by regulators to curtail the use or trade of cryptocurrencies, the number of users of such digital assets continues to grow. As some studies have repeatedly shown, cryptocurrencies like bitcoin — which are seen or used as an alternative store of value — have become a necessity. Barring their volatility, cryptocurrencies offer users or holders a measure of control over their wealth, something they cannot do with fiat currencies. Indeed, in countries ravaged by inflation or those with unstable currencies, cryptocurrencies offer an escape route that was not available to them prior to the 2008 global financial crisis . As recent reports from Turke...

S&P Global, an intelligence and data company, suggests that crypto and decentralized finance trends will continue to gather steam in 2022. In its latest report, the company examines the current state of the market and notes that, while there are still serious problems that could hinder adoption, the sector will keep growing by complementing traditional finance in the coming year. S&P Global Believes Crypto Will Continue to Grow in 2022 A new report prepared by S&P Global, an intelligence gathering and data company, predicts that the cryptocurrency and the decentralized finance sectors will keep growing in 2022. The report , titled Global Credit Outlook 2022, declares that while crypto institutional investments are still concentrated in a few companies, this could lead to other institutions following suit. The report states: Three companies–Block.one, MicroStrategy, and Tesla–hold almost 84% of corporate investments in bitcoin. Yet, growing interest from institutional i...