British Columbia’s Supreme Court upheld a temporary power outage for new cryptocurrency mining operations, emphasizing the government’s role in balancing energy needs and sustainability goals. On February 2, 2024, the Supreme Court of British Columbia ruled in favor of the Lieutenant Governor of Council, upholding an Order of Council (OIC) temporarily suspending BC Hydro’s obligation to power new cryptocurrency mining operations for 18 months. . The ruling handed down by Judge Tammen dismissed the petition by Conifex Timber Inc., a forestry company aiming to diversify into high-performance computing data centers primarily for cryptocurrency mining. background of the incident The controversy…
Author: Crypto Flexs
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Terra founder Do Kwon and co-founder Shin Hyun-seong of the failed cryptocurrency project are still waging a legal battle nearly two years after the network collapsed. This time, the network’s co-founders must contend with claims made by an insider who testified that both founders were aware of the project’s problems. Insiders speak out about Terra’s founders. In an interesting turn of events, an insider of the Terra project has come forward to testify against the co-founders of the failed Terra network in Korea. Local media Chosun reported the trial process of Shin Hyun-seong, co-founder of Terra and former CEO of…
Bitcoin BTC -0.99% The price of fell below $43,000 as the digital asset faced downward pressure from miners selling their reserves on the market.“Much of the Bitcoin price decline, especially following the SEC’s approval of the spot Bitcoin ETF, can be attributed to selling by Bitcoin miners who used BTC’s rally as a catalyst to liquidate or leverage their positions.” Bitfinex analysts said in a report Tuesday.The report notes that miners are motivated to sell in preparation for the upcoming halving this year, which will reduce Bitcoin rewards and thus reduce business profitability.“Selling now provides miners with capital to upgrade…
A Hong Kong financial employee was tricked into transferring $25.6 million using deepfake technology, highlighting the growing cybersecurity threat of such scams. A global company based in Hong Kong has become the victim of a clever cyber theft that looks like it was ripped straight from the script of a high-tech thriller. The fraudsters succeeded in stealing $25.6 million from them. As part of the scam, deepfake technology was used to imitate the UK-based company’s chief financial officer (CFO), as well as other easily identifiable government officials during video conferences. Financial employees who were initially skeptical of the request to…
The price of SOL fell more than 3% following a “massive outage” on the Solana network.Solana prices fell as low as $93.36 before recovering to current levels of $93.70, down 4.1% on the day and more than 11% for the week, according to CoinGecko data.The Solana Network’s status page shows a “massive outage” of the mainnet beta cluster, with a notification that “Engineers across the ecosystem are investigating the mainnet beta outage” as of 10:22 AM UTC.According to the Solana Status Twitter account, which provides network status updates, engineers have released a new validation software update, version v1.17.20, which fixes…
UNI price is rising from the $6.00 support level. Uniswap is up 5% and could rebound if there is a clear move above the $6.35 resistance area. UNI initiated a new hike from the $5.50 support zone. The price is trading above $6.00 and the 100 simple moving average (4-hours). On the 4-hours chart of the UNI/USD pair, there is a major bearish trendline forming with resistance near $6.20 (data source from Kraken). The pair is showing bullish signals and could rebound once the $6.35 resistance is cleared. UNI prices aim higher After forming a support base above $5.65, UNI…
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only. Kelexo (KLXO) plans to restructure decentralized lending and provide opportunities for people to participate in governance and revenue sharing initiatives. More than 5,000 people registered for the KLXO presale. Uniswap Innovation Uniswap (UNI) is up about 55% since October 2023. This upward trend is fueled by anticipation for the upcoming Uniswap v4. Uniswap is committed to innovation and advancing decentralized finance. Experts expect UNI to reach $20.56 in 2024. Tron is resilient Despite recent price fluctuations, Tron (TRX) is…
Want to get rich with ZedCoins but don’t know where to start? Look no further! In this step-by-step guide, we will reveal the secret to making money with ZedCoins. Whether you’re a beginner or an experienced investor, this guide will give you the knowledge and tools you need to succeed. What is ZedCoin? ZedCoins is a digital cryptocurrency that has been gaining popularity in recent years. It is a decentralized currency that enables secure, private, and instant transactions. ZedCoins operates on a technology called blockchain, a distributed ledger that records all transactions across a computer network. This makes ZedCoin secure…
One prominent cryptocurrency trader believes that the altcoin market is close to bottoming and that a major move to the upside is just months away. In a new strategy session, Jason Pizzino told his 310,000 YouTube subscribers that the overall altcoin market cap has turned key resistance levels into support levels and could remain there until the bull market begins later this year. But he warned there could soon be a slight decline from current levels. “There may be a little more downturn, but nothing too severe compared to previous cycles. So if you are waiting for a 20x, 50x,…
Ripple LabsLeading cryptocurrency payments company has been seen moving millions of XRP tokens following a recent victory from the U.S. Securities and Exchange Commission (SEC). legal dispute. Ripple moves millions of XRP as price remains stable. According to a recent report, Ripple Labs moved 120 million XRP tokens worth about $60.8 million. The move caused quite a stir within the XRP community and heightened anxiety over a sell-off as market volatility increased. This comes after the payments company suffered a legal setback in court on Monday. The SEC’s motion to compel Ripple to provide financial statements for XRP was granted…