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Cryptocurrency Hedge Fund Three Arrows Capital (3AC) Has Been Ordered To Liquidate Its Assets   A British Virgin Islands court has ordered major cryptocurrency hedge fund Three Arrows Capital (3AC) to liquidate its assets as the serious market downturn in digital assets continues.   The liquidation has been ordered by a British Virgin Islands court,...
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Why Is The Bitcoin Hash Rate So High During This Downturn In Price?   Why is The BTC network hash rate still so High?   Firstly, an increase in the BTC hash rate means more mining power is being added to the Bitcoin network. Whenever new miners join the network, the mining difficulty increases. This...
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Consensus: DAY 3/DAY 4   Day 3 and day 4 was jam packed with some incredible speakers.   Jimmy Song & Todd Share   We firstly got to see the ultimate Bitcoin Maxi in Jimmy Song discuss all things Bitcoin. He spoke at length on the technical upgrades to Bitcoin, the most recent being the...
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Consensus: DAY 1/DAY 2   We arrived in beautiful Austin, Texas, to 40 degree weather, dryness, and a whole heap of flavoursome individuals! We were in Austin to attend Consensus by CoinDesk, since 2015, Consensus has been the central meeting point for those committed to decentralising the world. Curated and produced by CoinDesk, the most...
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White House Seek To Reduce Cryptocurrency Mining Energy Principal Assistant Director for energy for the White House office of science and technology policy, Costa Samara, has detailed that the White House is seeking to introduce policies to lower cryptocurrency mining energy consumption, according to a report from Bloomberg Law.     Following President Joe Biden’s...
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U.S. Federal Reserve Begins Serious Quantitative Tightening Starting June 1, the Fed will begin draining that plus $3.3 trillion of bank reserves from its nearly $9 trillion balance sheet to put all of this money in motion — a process it called “quantitative tightening”.     Quantitative tightening, also known as balance sheet normalisation, is...
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Calls For Urgent Regulation In Australia’s Cryptocurrency Markets In a bid to protect Australian consumers from cryptocurrency scams, Choice, an Australian based consumer advocacy group has called on the Labor government to provide action on regulating the cryptocurrency industry.     They are specifically calling for centralised exchanges to be subject to the consumer protection...
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Commonwealth Bank Brings Cryptocurrency Trading In-App To A Halt After Serious Market Volatility Australia’s largest bank has decided it will pause its rollout of its app-based trading of digital currencies such as Bitcoin and Ethereum pending further regulation.   The multinational corporation has also sought to pause all testing features, preventing any cryptocurrency sales on...
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ATO Takes Aim At Cryptocurrency Gains For Tax Time 2022 The Australian Tax Office (ATO) has released its four priorities come tax time at the end of this financial year, honing in on four key focus areas, including record-keeping, work-related expenses, rental property income and deductions, but most importantly, capital gains from cryptocurrency assets, property,...
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LUNA Spectacularly Tanks As UST Fails to Re-Peg TerraUSD (UST), a digital token with a once $16 billion market capitalisation that is designed to maintain a 1:1 peg with the dollar, known as a stablecoin, nosedived over the past 36 hours.    Its price fell below $0.65, before somewhat recovering to $0.93 as yesterday before...
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