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☆ Bitcoin's next gen tokens are here. Inside the Silicon Valley hacker house where 17 coders helped build the new memecoin market
▼ + stars: | 2024-04-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +10 min

Magic Eden coders gathered in an Airbnb in San Jose, California, to hack in preparation for the so-called bitcoin halving. Their goal was to spend a week hacking to prepare for the so-called bitcoin halving — an event that is baked into the chain's code and helps to stave off inflation through programmatic monetary policy. watch nowTechnically speaking, runes just enables asset issuance of fungible tokens on bitcoin's base chain. The reason this is significant to developers is because of its efficiency relative to existing BRC-20 tokens, bitcoin's widely-used fungible token standard that has already received a ton of traction. "There's definitely been an awakening of capital interest in the bitcoin layer two space," said Muneeb Ali, who co-founded Stacks — an open-source blockchain network that brings smart contracts to bitcoin.

Persons: Eden coders, Amil Husain, Magic Eden, Bitcoin, Eden's, Zedd Yin, Eden's coders, Yin, blockchain, Casey Rodarmor, Rodarmor, Casey, Nic Carter, Bill Barhydt, bitcoin, Barhydt, I've, Carter, PitchBook, There's, Muneeb Ali, Ali, Christopher Calicott, Amil Husain DeFi, Hong Fang, Fang, Goldman Sachs, Stacks's Ali Organizations: East Foothills, Fighter, Engineers, solana, Island Ventures, Venture, CNBC, Magic Eden, Austin, Trammell Venture Partners, Labs, Ribbit Capital Locations: San Jose , California, U.S, Northern California, solana, ethereum, Abra, bitcoin, San Jose, Bitcoin

☆ Bitcoin miners brace for impact as halving goes live
▼ + stars: | 2024-04-21 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

The technical event is relatively simple: Bitcoin miners get paid in bitcoin to validate transactions, and after 210,000 blocks of transactions are computed and added to the main chain, the reward given to the miners securing bitcoin is 'halved.' The aggregate market cap of the 14 U.S.-listed bitcoin miners tracked by JPMorgan analysts declined 28% over the first half of April to $14.2 billion, reaching year-to-date lows. Some have billed the 2024 bitcoin halving as a seminal moment for the mining sector. Marathon, along with other mining firms, has begun diversifying its business model into ancillary operations beyond purely bitcoin mining. Sullivan continued, "Bitcoin mining sites can only be repurposed if they meet the attributes that are required for HPC.

Persons: AUSTIN , TEXAS — Adam Sullivan, bitcoin, Sullivan, they'll, it's, Core's Sullivan, Bitdeer, Needham, Haris Basit, Basit, Cantor Fitzgerald, Greg Beard, Beard, Bitdeer's, Jason Les, Les, Fred Thiel, Capex, Thiel, Stronghold's Beard, Nic Carter, Blackrock, Bill Barhydt, Barhydt, Island's Carter isn't, Carter, CoinShares Organizations: bitcoin, CNBC, JPMorgan, Cipher, Bitdeer Technologies, Mining, Miners, Riot, Island Ventures, Circuits, Nvidia, CoreWeave, Bitcoin, HPC Locations: AUSTIN , TEXAS, Texas, bitcoin, U.S, Rockdale , Texas, Singapore, Bitcoin, Hong Kong, Abra, Europe, Dalton , Georgia, North America

☆ How a Jack Dorsey-backed bitcoin miner uses a volcano in Kenya to turn on the lights in rural homes
▼ + stars: | 2024-04-20 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +9 min

watch nowHELL'S GATE, Kenya — Two-and-a-half hours northwest of Nairobi by car, a small group of bitcoin miners set up shop at the site of an extinct volcano near Hell's Gate National Park. "That doesn't happen without the bitcoin miners and us being globally distributed." MacKenzie SigalosWherever the operation, bitcoin mining is a volatile business, because so much of the economics depends on the price of the cryptocurrency. Before getting into bitcoin mining, he and his two co-founders, Philip Walton and Janet Maingi, spent years building internet connectivity infrastructure in rural and urban Africa. Demand from bitcoin miners on these semi-stranded assets is making renewables in Africa economically viable.

Persons: Jack Dorsey's, MacKenzie Sigalos, Erik Hersman, Bitcoin, Gridless, Lake Naivasha, bitcoin, Adam Sullivan, Philip Walton, Janet Maingi, Michael Gottschalk, Nic Carter, Carter, Hersman, It's, it's Organizations: CNBC, Kenyan, Core, Deutsche Bank, Marathon, United Arab, Getty, Island Ventures, Miners, International Energy Agency Locations: Kenya, Nairobi, Lake Naivasha, Malawi, Zambia, Venezuela, Lebanon, Gate, Lake, U.S, Texas, Russia, China, America, Africa, Toronto, Argentina, Florida, United Arab Emirates, Paraguay, Hersman, Sudan, Iceland, El Salvador, Bhutan

☆ Bitcoin's Wild Price Booms and Busts Are Going to Continue Forever
▼ + stars: | 2024-03-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The main explanation for the recent gain in bitcoin's price is the Securities and Exchange Commission's begrudged blessing of spot bitcoin exchange-traded funds, investment vehicles that track bitcoin's price. As bitcoin ETF providers have to invest in the underlying assets — bitcoins — demand for those assets increases. "The speed of the come-up is much faster than I thought," he said, adding that he was specifically surprised at retail-trader activity in the bitcoin ETFs. (Also, not everyone agrees it will be good for bitcoin's price.) Or maybe, just maybe, the latest run will cement bitcoin's future as a more stable part of people's investment portfolios.

Persons: Bitcoin's, bitcoin, David Yermack, University's, who've, BlackRock's, Eric Balchunas, James Butterfill, it's, Butterfill, shiba inu, Nic Carter, Carter, Bitcoin, Yermack, Emily Stewart Organizations: bitcoin, University's Stern School of Business, Securities, Exchange, SEC, Wall, Fidelity, University's Stern School of, Bloomberg Intelligence, Federal Reserve, New York Community Bancorp, Castle, Ventures, Business Locations: New, bitcoin, BlackRock, David Yermack , New

☆ Coinbase threatened by bitcoin ETFs after almost 400% surge in stock last year
▼ + stars: | 2024-01-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

"We estimate Bitcoin custody and surveillance revenue will more than offset decline in Bitcoin trading volume as assets migrate to ETFs," the analysts said. "Spot bitcoin ETFs appear poised to take volume away from crypto exchanges," said Bryan Armour, director of passive strategies research for North America at Morningstar. watch nowMizuho sees the income from custody fees as fairly modest given how far investors have pushed up the stock. "They are essential infrastructure in terms of custody, trading, and surveillance for the majority of the ETF proposals," Carter said. WATCH: Former SEC Chair Jay Clayton on changes in bitcoin trading

Persons: Brian Armstrong, Michael Nagle, Coinbase, Franklin Templeton, they'll, Bernstein, bitcoin, Emilie Choi, —, Mizuho, Bryan Armour, Choi, we've, Nic Carter, Carter, Jay Clayton Organizations: Coinbase Global Inc, Bloomberg, Getty, SEC, Coinbase, BlackRock, JPMorgan, Mizuho, FactSet, Circle's U.S, CNBC, North America, Morningstar, Fidelity, Castle, Ventures Locations: New York, BlackRock, Coinbase, bitcoin

☆ SEC Chair Gensler says rebooted FTX run by ex-NYSE chief is possible if done 'within the law'
▼ + stars: | 2023-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

WASHINGTON — A revived FTX could work if new leadership does so with a clear understanding of the law, SEC chair Gary Gensler told CNBC on the sidelines of DC Fintech Week. "If Tom or anybody else wanted to be in this field, I would say, 'Do it within the law,'" Gensler said on Wednesday. Alameda was a market maker for the FTX exchange, and was given privileges, such as a $65 billion line of credit requiring no collateral. "We would never let the New York Stock Exchange also operate a hedge fund and trade against their members or trade against customers in the market," said Gensler. "FTX and Alameda had an extremely problematic relationship," Castle Island Venture's Nic Carter told CNBC.

Persons: Gary Gensler, Emanuel Cleaver, WASHINGTON —, Gensler, Tom Farley, Farley, FTX, Sam Bankman, Fried, Nic Carter Organizations: Financial, Securities and Exchange Commission, SEC, CNBC, DC, New York Stock Exchange, Alameda Research Locations: Rayburn, Alameda, FTX

☆ Bitcoin miners beef up Texas operations ahead of extinction-level event, exclusive data shows
▼ + stars: | 2023-09-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Bitcoin miners are barreling toward the "halving" — a major market-making event that some fear will be a death knell to many in the industry. "We're taking a long-term bet on bitcoin and on the fact that bitcoin mining will survive and will bounce back even stronger." Texas has grown to dominate bitcoin mining partly because of support from local authorities and the operator of the Texas energy grid, ERCOT. Even during the bear market, Texas miners are building out, buying new sites and fresh fleets of hardware. The mining company was spun off from Chinese bitcoin mining giant Bitmain and went public via SPAC earlier this year.

Persons: Kevin Zhang, Jihan Wu, Bitmain, Kevin Zhang Crypto, He's, China — he's, Zhang, bitcoin, Barry Silbert's, Foundry's, —, Chad Harris, ERCOT, Nic Carter, Shaun Connell, Brad Jones, Brandon Arvanaghi, Jason Les, Navarro, Les, hashrate, Morgan, Bitdeer Organizations: Foundry, Mining, CNBC, U.S, Riot, Cipher Mining, Georgia, Securities Exchange Commission, JPMorgan Chase Locations: Sweden, Republic of Georgia, China, America, Beijing, Shenzhen, Montana, North America, Texas, Wyoming, New York, United States, U.S, . Texas, Castle, Rockdale, Austin, Milam, Odessa , Texas, Minden , Nebraska, , Texas, New Hampshire, Pennsylvania, Nebraska, North Carolina , Kentucky , Oklahoma, Washington

Da Ponte denied a Bloomberg report that the payments processor paused development of its stablecoin in February. But da Ponte argues this troubled backdrop is exactly why PayPal is poised to succeed. Then there's the hypothetical digital dollar that would be the Fed's take on a central bank digital currency, or CBDC. "We have a large base of consumers; we have a large base of merchants," da Ponte said of PayPal's "two-sided network." Da Ponte sees PayPal's more than 20-year tenure in the payments space as one of the company's chief advantages in the stablecoin market.

Persons: Jose Fernandez da Ponte, PayPal's, Da Ponte, Paxos, it's, Ponte, stablecoins, Nic Carter, Stablecoins, Carter, Andy Bromberg, Andreessen Horowitz, Bromberg, PYUSD, Jeremy Allaire, Allaire, Patrick McHenry, McHenry Organizations: PayPal, CNBC, Bloomberg, SEC, New, Regulators, Valley Bank, U.S ., U.S, Castle, Ventures, Companies, Eco, Coinbase Ventures, Paypal, Facebook, Financial Services, America Locations: U.S, New York, Bromberg, web3, United States, R, DexTools

☆ VCs have swapped out tennis rackets and golf clubs for pickleball paddles. Here's why the sport has become one of the hottest hobbies in Silicon Valley.
▼ + stars: | 2023-01-28 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +5 min

Pickleball has exploded in popularity in recent years, becoming America's fastest-growing sport. From building relationships to escaping stress, here's why VCs are obsessed with the sport. In the background, pop music floated through the air as the group prepared for a trying battle of wits and athletic prowess — pickleball. Once reserved for the quiet neighborhoods of suburbs and 55-plus retirement communities, pickleball has exploded onto the tech and VC scene in recent years, investors say. A networking toolAnd other aspects of the sport make it an ideal pick for a hobby or networking tool, VCs added.

Bankman-Fried could face a host of potential charges – civil and criminal – as well as private lawsuits from millions of FTX creditors, legal experts told CNBC. There are three different, possibly simultaneous legal threats that Bankman-Fried faces in the United States alone, Levin told CNBC. He told CNBC, "prosecutors would have to prove beyond a reasonable doubt that Bankman-Fried or his associates committed criminal fraud." (Carter was not an FTX investor, and told CNBC that his fund passed on early FTX rounds.) "People should not jump to the conclusion that something is not happening just because it has not been publicly disclosed," Levin told CNBC.

☆ From $32 billion to criminal investigations: How Sam Bankman-Fried's empire vanished overnight
▼ + stars: | 2022-11-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Alameda's success spurred the launch of crypto exchange FTX in the spring of 2019. A Twitter fight with the CEO of rival exchange Binance pulled the mask off the scheme. Alameda, FTX and a host of subsidiaries Bankman-Fried founded have filed for bankruptcy protection in Delaware. On Nov. 2, CoinDesk reported a leaked balance sheet showing that a significant amount of Alameda's assets were held in FTX's illiquid FTT token. On Nov. 6, according to Bankman-Fried, the exchange had roughly $5 billion of withdrawals, "the largest by a huge margin."

☆ Crypto confidence is 'shattered' with FTX's future in question, says Castle Island Ventures' Nic Carter
▼ + stars: | 2022-11-10 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto confidence is 'shattered' with FTX's future in question, says Castle Island Ventures' Nic CarterNic Carter, Castle Island Ventures, on what's next for the crypto space. With CNBC's Brian Sullivan and the Fast Money traders, Tim Seymour, Karen Finerman, Dan Nathan and Guy Adami.

☆ This 22-year-old survives Lebanon with a bitcoin mining business that's been earning $20,000 a month
▼ + stars: | 2022-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +18 min

Against this backdrop, Abu Daher jumped into the crypto mining business a little over two years ago. Zoom In Icon Arrows pointing outwards Ahmad Abu Daher repairing mining equipment in the basement of a home in Zaarouriyeh. Ahmad Abu DaherIt has been 26 months since Abu Daher first set up shop, and he says that business is thriving. watch nowBuilding a bitcoin mining businessAbu Daher had a few black swan events on his side soon after he broke into crypto mining. In January, police raided a small crypto mining farm in the hydro-powered town of Jezzine, seizing and dismantling mining rigs in the process.

☆ FTX's token plunges 80% on liquidity concerns, wiping out over $2 billion in value
▼ + stars: | 2022-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

The selloff wiped out more than $2 billion in value in the space of 24 hours. FTT , the token native to crypto exchange FTX, lost most of its value after rival Binance, the world's largest cryptocurrency firm, announced plans to acquire the company. Like many crypto companies, FTX created its own token called FTT, which could be purchased like bitcoin though it wasn't as widely available. Zhao said Binance had about $2.1 billion worth of FTT and BUSD, its own stablecoin. According to CoinMarketCap, the value of FTT's circulating supply is about $735 million, down from $2.9 billion on Monday.

☆ FTX-Binance deal is the 'most dramatic' in crypto's history, says Castle Island Ventures founder
▼ + stars: | 2022-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTX-Binance deal is the 'most dramatic' in crypto's history, says Castle Island Ventures founderCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Nic Carter of Castle Island Ventures discusses the implications of the agreement between Binance and FTX for the crypto market.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTX token plunges as Binance steps in to buy the crypto exchange's non-U.S. unit: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Nic Carter of Castle Island Ventures discusses the implications of the agreement between Binance and FTX for the crypto market.

☆ China continuă războiul împotriva Bitcoin și impune o nouă măsură pentru a elimina tranzacțiile cu criptomonede
▼ + stars: | 2021-07-08 | by ( ) www.jurnal.md time to read: +3 min

Sursa foto: GettyImagesChina continuă războiul împotriva Bitcoin și impune o nouă măsură pentru a elimina tranzacțiile cu criptomonedeBanca centrală a Chinei a anunţat că a închis o companie care „era suspectată de furnizarea unor servicii software pentru tranzacţii cu monede virtuale”. Totodată, biroul din Beijing al Băncii Populare a Chinei a avertizat instituţiile cu privire la oferirea unor servicii alternative asociate cu monedele digitale, precum furnizarea de spaţii comerciale şi servicii de marketing, potrivit CNBC. De altfel, luna iunie a fost martora unor arestări în masă ale unor oameni suspectaţi de utilizarea criptomonedelor în moduri frauduloase. O altă ipoteză spune că Beijingul încearcă să bată terenul pentru propriul său yuan digital, o monedă virtuală a băncii centrale care a început să fie dezvoltată încă din 2014. Astfel, un factor de motivaţie al Beijingului ar consta în oprirea ieşirilor de capital prin intermediul criptomonedelor şi aşa-numitelor „stablecoins” – monedele digitale ancorate de monedele suverane, precum Libra a Facebook.

Persons: Beijingul, situaţia, Fred Thiel, crypto, susţine Nic Carter, Carter Organizations: Chinei, Mediafax, Marathon Digital Holdings, Castle Island Ventures, Facebook Locations: China, Chinei, Beijing, ţara, Marathon, Libra

☆ China continuă războiul cu Bitcoin și impune o nouă măsură pentru a elimina tranzacțiile cu criptomonede
▼ + stars: | 2021-07-07 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +3 min

Banca centrală a Chinei a anunţat că a închis o companie care „era suspectată de furnizarea unor servicii software pentru tranzacţii cu monede virtuale”. Totodată, biroul din Beijing al Băncii Populare a Chinei a avertizat instituţiile cu privire la oferirea unor servicii alternative asociate cu monedele digitale, precum furnizarea de spaţii comerciale şi servicii de marketing, potrivit CNBC. De altfel, luna iunie a fost martora unor arestări în masă ale unor oameni suspectaţi de utilizarea criptomonedelor în moduri frauduloase. O altă ipoteză spune că Beijingul încearcă să bată terenul pentru propriul său yuan digital, o monedă virtuală a băncii centrale care a început să fie dezvoltată încă din 2014. Astfel, un factor de motivaţie al Beijingului ar consta în oprirea ieşirilor de capital prin intermediul criptomonedelor şi aşa-numitelor „stablecoins” – monedele digitale ancorate de monedele suverane, precum Libra a Facebook.

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