Bitcoin News and Finance: What You Need to Know

In a fresh analysis focusing on Bitcoin and its alignment with environmental, social, and governance (ESG) principles, the ‘Big Four’ accounting titan KPMG delves into the digital currency’s promising contributions to this movement. The professional services entity highlights four carbon-reduction techniques adopted by bitcoin mining firms across the entire mining sector. KPMG Report Discusses Bitcoin and ESG Standards KPMG’s analysis describes how bitcoin (BTC) miners, seeking proximity to inexpensive renewable energy sources such as solar and wind, reduce costs. This practice creates additional revenue to support more renewable energy projects in remote areas. The flexible computing load of bitcoin can also assist in balancing electrical grids by cutting demand during peak periods. KPMG researchers detail how bitcoin miners used a demand response system to aid Texas during a winter storm in 2021. The report states: During Winter Storm Uri, which took place in Texas in Februar

Nasdaq-listed Microstrategy has disclosed that it now holds 152,800 bitcoins, acquired for $4.53 billion. A total of 12,800 bitcoins were acquired in the second quarter. The company also revealed that it plans to buy more bitcoin with proceeds from sales of its common stock of up to $750 million. Microstrategy Boosts Bitcoin Holdings to 152,800 Coins Microstrategy (Nasdaq: MSTR) released its second-quarter financial results on Tuesday. The company revealed that it acquired 12,800 bitcoins during Q2 for $361.4 million, or $28,233 per BTC . As of July 31, it held 152,800 bitcoins, acquired for a total cost of $4.53 billion, or $29,672 per BTC . Michael Saylor, Microstrategy’s founder and executive chairman, tweeted Tuesday: In July, Microstrategy acquired an additional 467 BTC for $14.4 million and now holds 152,800 BTC . Prior to the latest acquisition of 467 BTC , Microstrategy acquired 12,333 bitcoins between April 29 and June 27, as previously reported . Microstrategy is al

Fitch Ratings has downgraded the United States’ debt rating. Biden officials call the downgrade decision “bizarre and baseless.” Both the White House and U.S. Treasury Secretary Janet Yellen strongly disagreed with the downgrade decision. Yellen claimed that the change by Fitch Ratings “is arbitrary and based on outdated data.” Fitch Downgrades US Rating Fitch Ratings, one of the three largest credit rating agencies in the U.S., downgraded the United States’ long-term foreign-currency issuer default rating from AAA to AA+ on Tuesday. The rating agency explained : The rating downgrade of the United States reflects the expected fiscal deterioration over the next three years. It also reflects “a high and growing general government debt burden, and the erosion of governance relative to ‘AA’ and ‘AAA’ rated peers over the last two decades that has manifested in repeated debt limit standoffs and last-minute resolutions,” Fitch added. “The repeated debt-limit political standoffs and l

According to James Seyffart and Eric Balchunas, two analysts specializing in exchange-traded funds (ETFs) at Bloomberg, the likelihood of a spot bitcoin ETF debut in the U.S. has surged to 65%. These analysts attribute this increase to “pressure from Blackrock and possibly Democrats,” a force that could compel the U.S. Securities and Exchange Commission to act. U.S. Spot Bitcoin ETF Odds Rise to 65%, Analysts Cite Blackrock Influence Following a wave of spot bitcoin ETF filings and revisions, the Securities and Exchange Commission (SEC) now finds itself with several applications awaiting review. In the midst of June, Blackrock, the world’s largest asset manager by assets under management (AUM), lodged its spot bitcoin ETF application, with several other contenders quickly falling in line. Fast forward to August 2, 2023, and Bloomberg ETF analysts James Seyffart and Eric Balchunas publicly offered their insights regarding the SEC’s potential approval of a spot bitcoin ETF. “Based

After the U.S. Securities and Exchange Commission filed a lawsuit against Richard Heart and his companies Hex, Pulsechain and Pulsex, the crypto asset hex (HEX) has been in a free fall. Two-week statistics show HEX has lost 41.7% against the U.S. dollar and 35.8% over the past seven days. Uniswap Delists HEX Following SEC Lawsuit; HEX Loses Over 40% In the past two weeks, HEX has shed more than 40% against the greenback, and on Aug. 2, 2023, the price is down around 2%. The U.S. Securities and Exchange Commission, or SEC, filed a lawsuit against the creator of the Hex blockchain, Richard Schueler, also known as Richard Heart, and his companies Pulsechain and Pulsex. The SEC complaint accuses Heart of offering and selling unregistered crypto tokens and defrauding investors by misappropriating funds. Two days after the SEC complaint was filed, the largest decentralized exchange, or dex, by trade volume, Uniswap, delisted HEX from the dex interface. According to metrics, there’s a c

Binance, which is preparing to launch its new Japanese platform in August, will offer users the opportunity to trade 34 coins, local crypto media reported. Besides major cryptocurrencies such as bitcoin and ether, Binance’s own token will also be among the listed digital assets. Binance to Restore Crypto Trading in Japan With More Coins Than Major Competitors Binance Japan, a subsidiary of the world’s largest crypto exchange by daily trading volume, will launch with 34 listed tokens, according to the Japanese crypto news outlet Coinpost. On Aug. 1, the company shared details about the services it plans to provide later this month. The initial offerings will include bitcoin ( BTC ), ether ( ETH ), and bitcoin cash ( BCH ), as well as XRP . Binance’s token Build and Build ( BNB ), formerly Binance Coin, will be listed for the first time in Japan, the report pointed out. The number of promised cryptocurrencies exceeds those traded on the platform’s major domestic competitors such as