Biggest mining difficulty drop ever (-27%), multibillion hedgefund wants to invest in crypto and Ukranian bank to offer trading
Bitcoin mining difficulty records biggest drop in history
Last Saturday, the mining difficulty has taken a dive, falling by nearly 28 percent. This is the single largest drop in Bitcoin’s history.
Furthermore, this is only the 3rd time in history that the network recorded 3 or more downward adjustments in a row. It follows the widescale shutdowns of mining farms in China. The government has vowed to crack down on cryptocurrencies beginning with their mining and trading.
With the adjustment at a record low, the miners in operation are set to be more profitable in the coming weeks. That is unless there is a drastic price correction in the coming days.
Source: Flash news
Multibillion dollar hedge fund Marshall Wace plans investment
British Investor Paul Marshall’s $55 billion hedge fund is reportedly planning to invest in the cryptocurrency industry.
A report by the Financial Times stated Tuesday that according to people familiar with the firm’s operations, the Marshall Wace hedge fund is interested in gaining exposure to crypto assets by investing in crypto startups that are in their late stages of development.
The startups range from those working on stablecoin projects, digital currency payment systems, and blockchain technology. Marshall Wace already invests in Circle, the blockchain company behind the popular USDC stablecoin.
Ukranian Monobank to start offering Bitcoin trading
Ukrainian e-bank Monobank has expressed its interest in wanting to offer customers bitcoin trading by July. The bank has applied to the Bank of Ukraine to approve its application for a bitcoin debit card. This comes as the Ukrainian government progresses on crypto-related legislation.
The announcement came from an earlier report which had cited the bank’s co-founder. Oleg Gorokhovsky who is the co-founder of Monobank had expressed optimism for bitcoin earlier this year. Gorokhovsky had said that Tesla’s $1.5 billion purchase of bitcoin this year had renewed his faith in the coin. And he believed that the digital asset was really here to stay.
Source: bitcoinist
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