Gamers are still Nvidia’s masters, but Ether miners could change that
Gaming hardware giant Nvidia has addressed the ongoing shortage of its new RTX 3000 product line after high demand from gamers, and to a lesser extent, cryptocurrency miners, pushed up prices and cut availability. Nvidia chief financial officer Colette Kress said the company didn’t have good visibility into how much demand came solely from cryptocurrency miners, but she doesn’t believe it’s a big part of the business at this time.
British financial advisor calls on the gov’t to ban crypto transactions
Neil Liversidge, a veteran financial advisor, has called on the government of the United Kingdom to ban transactions in cryptocurrencies like Bitcoin (BTC). Liversidge, the owner of the independent financial advisory firm West Riding Personal Financial Solutions, started a petition urging local financial authorities to stop crypto transactions in the U.K.
Yearn proposes “buyback and build” strategy for YFI holders
The Yearn.finance community is introducing a proposal to reform the current token economics of YFI. Popularly called “buyback and build,” the proposal aims to bolster the project’s treasury while also generating value for all stakeholders. Its list of authors includes Yearn core developers Banteg, Tracheopteryx and Lehnberg, as well as Gabriel Shapiro, partner at BSV Law and occasional Yearn contributor.
BitMex turns to Chainalysis to solve legal woes, or at least soften the CFTC's blow
Still facing a courtroom assault in the U.S. for allegedly facilitating money laundering, BitMex is trying to show regulators that it's trying. On Jan. 12, the legally besieged crypto exchange released a blog post advertising further work with blockchain analytics firm Chainalysis. BitMex said its aim was "to identify, investigate, and stop illicit transactions."
Bitcoin price climbs 20% overnight as US banks brace for 40% profit cut
The dollar value of Bitcoin (BTC) jumped 20% overnight leading into Jan. 12, as the world’s most well-known cryptocurrency recovered swiftly from a 27% decline suffered just days before. The broader cryptocurrency market followed suit on Tuesday, as over $150 billion flooded back into the global market cap on the same day.
DeFi coverage protocol expands protection against centralized exchange hacks
Decentralized finance coverage protocol Nexus Mutual has expanded the list of centralized exchanges eligible for incident protection. Users trading on Binance, Kraken, Coinbase and Gemini are now able to buy protection in the event of an exchange hack or prolonged withdrawal downtime.
Ethereum layer-two network to offer batched Tether payments
Popular stablecoin Tether (USDT) is the first token to go live on the Hermez layer-two network, the company announced on Monday. As part of the collaboration, batched USDT transactions will be possible once the Hermez network officially launches in early 2021.
Aragon merges with Vocdoni to improve governance for DAOs
Aragon, a platform specializing in managing decentralized autonomous organizations, announced a merger with the Vocdoni protocol, a blockchain voting and governance solution provider.
Kenyan crypto firms on notice as digital tax law takes effect
Kenya’s planned Digital Service Tax, or DST, came into effect at the start of 2021. The DST is part of the country’s 2020 revamped Finance Act that focuses on the digital services market among other sectors. Based on the provisions of the new tax regime, e-market transactions including cryptocurrency payments now attract a 1.5% levy.
Coinbase acquires trading execution platform Routefire
Major cryptocurrency exchange Coinbase has acquired the Routefire platform for enhanced trade execution. In a Jan. 7 blog post, Routefire CEO Jason Victor announced that the team would now be developing its execution services for Coinbase, while thanking users for their support over the last three years.