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Bitcoin mining power demands in Texas could jump 5 times by 2023 As the state of Texas faces a rapid inflow of Bitcoin mining operations, its electrical infrastructure will have to support the industry’s expected 5,000 megawatts of additional power demands by 2023. The Bitcoin mining industry in Texas currently consumes around 500 to 1,000 MW of power. The Electric Reliability Council of Texas (ERCOT) anticipates that demand could increase as much as fivefold by 2023 and has planned an additional 3,000 to 5,000 MW according to reports. This expansion comes amid Texas planning to become the home to 20% of the world’s Bitcoin mining operations. Texas emerged as the go-to destination for Bitcoin miners ever since the Chinese government officially banned Bitcoin mining earlier this year. The state government has capitalized on China’s clampdown by making Texas a haven for crypto miners who can now enjoy a 10-year tax abatement, sales tax credits, and state-sponsored workforce training. Some Texas residents, however, are concerned that the existing power grid cannot be improved. ERCOT’s management of the state’s electrical grid came under heavy scrutiny in February 2021 when blackouts plagued the region during an extreme cold snap which left about 5 million residents without power for days. There are currently no proposals from the Texas state government to deal with potential issues that may arise from the increase in electrical demand from crypto miners. As suggested by the Texas Standard, miners could be flexible in shutting off their hardware during periods of peak demand or be charged a premium per kilowatt-hour if they want to stay on during peak demand periods.

Large investors are expected to enter the decentralized finance market in 2022 An influx of institutions into the DeFi sphere is expected next year. As one of the founders of Chainlink Sergey Nazarov noted, this industry will continue to grow due to the interest of traditional banks in it. In his opinion, by expanding the types of on-chain collateral, there will be a basis for the emergence of new decentralized insurance solutions. “In 2022, the world will realize that there is a big market called DeFi. If PayPal has started working with cryptocurrencies, then think about why your users will not want to interact with storage, DeFi and so on tomorrow?” he said. Another of the founders of the 1inch Network DeFi project, Anton Bukov, believes that this area will increase its growth rates in the next 3-5 years. The expert stressed that decentralized exchanges should work 100 times faster than at present. This will make it easier for users to understand how DeFi works. Senator from Australia Jane Hume recently spoke about the concept of decentralized finance. She believes DeFi will help Australia become a leader in innovation and economic progress. “Decentralized finance underpinned by blockchain technology will present incredible opportunities ‑ Australia mustn‘t be left behind by fear of the unknown,” said Hume, stressing that progress and innovation determine the country's economic future. The decentralized finance market is constantly evolving. Having started in 2021 at the level of $21.5 billion, the total TVL (the value of funds blocked in smart contracts of DeFi applications) has increased more than tenfold. By mid-November, the market volume reached $270 billion. This indicates that the DeFi industry is actively developing and will attract more and more players.

Cryptocurrency funds remain attractive to investors Cryptocurrency funds continue to attract investors amid the fall in the digital asset market. CoinShares analysts have been recording new capital inflows into funds for 13 consecutive weeks. During the reporting week, this figure reached almost $151 million. A significant part of this amount came from institutional investors in BTC ($97.5 million). Since the beginning of the year, investors have invested about $6.5 billion in bitcoin. Cryptocurrency funds now manage assets in the form of the first cryptocurrency for a record $56 billion. However, analysts noted a decline in volumes in the second half of the year. Currently, this average figure is $750 million per day. In the first six months of 2021, it was $960 million. The total inflow of funds to crypto funds since the beginning of this year is $9 billion. In total, the funds manage approximately $87 billion. One of the latest news was the launch of BTC-ETF futures trading by VanEck investment company on the Chicago Stock Exchange. This is the third such product presented on the American stock exchanges, in which large investors are interested. Institutional investors, including banks, investment funds, insurance companies, are already actively integrating into the cryptocurrency market. Back in 2018, the head of Crypto Technology, Anton Sobin, confidently stated that the digital asset industry "over time, it will cease to be perceived as a fraud." “Any area of business or technological innovation goes through the stage of formation, after the initial analysis, an understanding of the relevance and profitability appears. It is at this moment that the sphere begins to be filled with money from the side of large investors. A race and struggle for a new market begin,” Sobin said. Today, the gradual adequate regulation of the digital currency industry and the positive reaction to this by market participants testify to the maturity of this direction. Reduced risk and excellent profitability make crypto coins attractive to large investors, so today the crypto sphere is actively attracting new fans.

Litecoin fights “double top” risks after LTC price rallies 37% in November A 37% November Litecoin price rally risks exhaustion as the “silver cryptocurrency” hints at forming a double top chart pattern. The classic bearish reversal setup happens when the price forms two consecutive peaks of almost the same height, with each upside move meeting with a strong correction toward a common support level, called the “neckline.” Typically, the price breaks below the support and falls by as much as the maximum height between the double top’s peak and neckline. So it appears, LTC is halfway through forming a double top pattern. Litecoin will need to extend its selloff to retest the neckline. Meanwhile, breaking below the support level would activate the double top breakout setup, with the profit target sitting near $200. Litecoin’s bearish reversal pattern is happening when inflation in the USA has peaked to a three-decade high, prompting investors to seek a hedge across various financial instruments. Litecoin “bull pennant” puts LTC target at $350 Dubbed a bull pennant, the bullish continuation pattern appears when the price consolidates sideways inside a triangular structure after a strong rally upward. Traders confirm a bullish breakout when the price breaks above the triangle’s upper trendline with strong volumes. In doing so, they watch the level at length equal to the height of the previous uptrend (flagpole) as their profit target. As a result, Litecoin’s price eyes an extended upside move toward $350. Meanwhile, failing to have a decisively bullish follow-through risks activating the double top setup. That brings the “multi-month ascending trendline support” in the picture as the next downside target should there be a bearish breakdown move; coincidentally, the target is also near $200.

Experts say bitcoin ETFs are more profitable for investors than ETF on bitcoin futures MicroStrategy CEO Michael Sailor and Coinmetrics co-founder Nick Carter believe that BTC investment funds are more profitable for investors than ETFs on the first cryptocurrency futures. Sailor believes that if the SEC approves the launch of the BTC-ETF, serious investments will "flow" into them. “As soon as spot Bitcoin ETFs are launched in the US, I think you will see billions flow into them, then tens of billions, then hundreds of billions, and then trillions of dollars. This will be the final step necessary for Bitcoin to become one of the main assets of the Western world,” Sailor said. According to Nick Carter, ETFs on the futures of the first digital coin are “defective”, and the arguments of the regulator against the launch of cryptocurrency funds are “empty”. The expert believes that after the launch of the BTC-ETF in the United States, the trading volume within a month could reach $100 billion. Former Coinbase top manager advises crypto developers to move to friendly jurisdictions Balaji Srinivasan, who previously served as CTO at Coinbase, advised digital currency developers not to fight the hostility of regulators. The best tactic in this case, according to the expert, is to move to more positive jurisdictions in relation to the industry. Srinivasan is confident that developers need to generate new solutions faster - before regulators have time to "outlaw them." According to the expert, players in the digital asset market must be mobile, and cities such as Miami and New York, as well as the states of Wyoming, Colorado and Texas, are quite friendly towards cryptocurrency projects. “Cryptocurrency developers must learn to code laws. Zero-level solutions are the fundamental level of cryptocurrency innovation, they are ideas in the minds of people, and they are the ones that lay the foundation for creating solutions of the first and second levels. Traditional financial legislation is heavily influenced by banks or academics who are hostile to cryptocurrencies,” Srinivasan said.

Ethereum price up 74% in less than two months On November 8, Ethereum has reached another all-time high. According to Coinmarketcap, the price of cryptocurrency is $4,735. ETH is up 74% since the end of September this year. The capitalization of the crypto coin has surpassed the $560 billion mark. The growth of the ethereum rate occurred against the background of the publication of the Finder.com report. The document says that the cryptocurrency may grow to $5,100 by the end of 2021, $15,300 by 2025 and reach $50,700 by 2030. Bitcoin also demonstrates strong growth today. BTC cost is $65,565. Over the past 7 days, the cryptocurrency has risen in price by 6.5%. Spanish bank plans to launch BTC-ETF Santander intends to launch Bitcoin exchange-traded funds. Spanish bank president Ana Botin said the organization's clients have a strong interest in cryptoassets. “Santander is considered a leader in the cryptocurrency space. Our clients want to buy bitcoin, but we are too slow in adopting cryptocurrencies due to regulatory uncertainty. Now we are going to offer a cryptocurrency ET,” said the head of the bank. However, according to local media reports, the National Securities Market Commission of Spain has not yet approved the launch of the ETF. Santander is positive about the cryptocurrency industry. The organization previously issued bonds worth $20 million on the Ethereum blockchain.

US Senators pressure Facebook due to Its crypto project US senators believe that Facebook CEO Mark Zuckerberg should suspend the Novi digital wallet project. Also, politicians are confident that it is too early to launch Diem stablecoin on the market. The senators noted that the IT company had previously promised not to issue the crypto coin without securing the consent of the regulators. The speeches of a number of US senators took place amid joint testing of the Novi crypto wallet by Facebook and Coinbase. “Despite these assurances, Facebook is once again implementing plans for digital currency on a tight timeline and has already launched a pilot project for the network's payment infrastructure, although this is incompatible with the real landscape of financial regulation - not only for Diem, but for stablecoins in general,” said senators. BITO BTC Futures ETF trading volume overcame $1 billion in the first 24 Hours The launch of ProShares' first Bitcoin futures ETF on October 19 was a success. The trading volume with tokens under the ticker BITO exceeded the $1 billion mark on the first day. Such results for the market can be considered almost record-breaking. According to analysts, retail investors account for a significant share of BITO's trading volume. “I think in the case of BITO, we will see the daily trading volume at least half of the volume of the first day. It is even possible to reach $750 million a day by the end of the week. The volume of trading in BITO shares on the first day exceeded the trading volume of 99.5% ETFs, including such large ones as DIA, ARKK and SLV. The indicator has definitely exceeded our expectations, ”wrote Erik Balchunas, senior analyst at Bloomberg. Carl Icahn does not rule out that bitcoin is a salvation from inflation Major investor Carl Icahn fears a significant rise in US dollar inflation. However, the businessman believes that BTC is able to occupy the niche of a reliable instrument for preserving assets. The billionaire predicts a global financial crisis in the future due to the fact that the US authorities continue to "print money." However, Icahn's investment company does not intend to invest in cryptocurrencies yet. “We have a lot of really smart guys working for us, but we still don't understand bitcoin. I am not saying that this is a good or bad asset, we just do not understand it. And, naturally, we will not invest in an asset that we do not understand. But if inflation rises strongly, then bitcoin may have value. But there are too many variables, it is too difficult to invest in it,” the entrepreneur emphasized.

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Bitcoin surpasses $62,000 amid approval of the first BTC-ETF futures The US Securities and Exchange Commission has approved the country's first exchange-traded fund based on bitcoin futures. Against the backdrop of positive news for the entire industry, the price of BTC rose by almost 3% in 24 hours. According to Coinmarketcap data as of October 18, the cost of the first cryptocurrency exceeds $ 62,400. However, not all cryptocurrency market players were delighted with the news of the SEC approval of an exchange-traded fund for BTC. DeFi Unchained Capital CEO Parker Luce is confident that ETFs are not very profitable for investors. “The Exchange Traded Fund efficiently processes bitcoin as if it were a traditional financial asset. If an investor buys it through an ETF, then you assume additional market maker risks. As a result, he chooses one of the more risky ways of owning bitcoin than if he bought it on the exchange,” he said. Walmart will launch its own fintech startup Walmart, the largest US retailer, plans to launch its own fintech project, which will be led by former Goldman Sachs executives. It will be a joint venture with Ribbit Capital, but Walmart will be the majority owner. According to the media, citing sources, one of the options for creating a joint venture could be the acquisition of a neobank, while the company does not plan to obtain a banking license. Walmart has been trying to build a financial services business for its customers for a long time. Until this direction has become one of the most successful for the company. “Everything we will do will be aimed at expanding what we are already doing. Wider adoption of Walmart Pay is definitely something that fits into the ecosystem we're trying to build, ”said Walmart CFO Brett Biggs. The author of the term "virtual reality" called BTC a pyramid Scientist, author of the term "virtual reality" Jaron Lanier considers the first cryptocoin "pyramid". In his opinion, investors who bought bitcoin at the beginning of its distribution earned significantly more than those who bought bitcoin later. Lanier believes digital currencies are like gambling. At the same time, the scientist noted that for a long time he was a supporter of crypto assets. “It’s intrinsically a Ponzi scheme. Like the early people have more than the later people. And the further down the chain you get, the more you’re subject to gambling, like dynamics where it’s more and more random and more and more subject to weird network effects and whatnot, unless you’re a very small player…but even then, you’ll be subject to fluctuations. it’s going to wave around the little people more, ”said Lanier.

Vitalik Buterin believes in the cloudless future of ETH Vitalik Buterin, commonly known as Ethereum co-founder, believes ETH can surpass BTC in the context of total market cap and as a tool for saving traders capital. “That’s quite possible. I think the main difference between these two assets is that the total value of bitcoin and its ecosystem directly depends on its total price. In contrast, ETH is exactly opposite”, Buterin says. Speaking about another DAO development and further extension, Vitalik noted the Gitcoin DAO and Optimism experiments aimed for mutual wealth and as project models which can positively influence the crypto industry. He believes DAO would become something better, something with a more significant meaning than it is now. “They definitely would find their place. I don’t see any unbreakable walls. Mostly, it’s a question of small issues that need to be fixed. When will one of the DAOs change strategy, or when will the two DAOs decide to merge? I think we’ll find it out soon enough”, he said. Rubini: “Central banks of all countries around the world would proceed with their own digital currency” The economist and well-known BTC critic Nouriel Roubini has no doubt bitcoin would never become a generally accepted currency. There can be a massive transition of many countries to digital currencies, supported by central banks soon. “Bitcoin is not a currency, and I cannot advise it as a savings tool so as other altcoins which would probably never become real currencies. Sooner or later, central banks would launch their digital currencies”, said the analytic during Sphere presentation. Rubini also declares people would abandon cash operations, constantly switching to digital payments. “It’s already in Sweden, China. For payments, people use QR code”, the economist insists.

The Ukrainian president has delayed further crypto legalization The Ukrainian president Vladimir Zelensky has returned to the Rada the draft Bill “about digital assets, #3637, forcing to finalize it. According to the law project, there has to establish an independent regulatory authority aimed to control digital assets, taxation system, protection of user rights and other aspects. The president says the whole structure needs to be changed, and National Securities and Stock Market Commission (NSSMC) should run the control processes. At the same time, building an entire new supervisory authority would create huge costs. IMF posted a situation among digital assets of Central Banks During the online conference, supported by Bocconi University, Kristalina Georgieva, Managing Director IMF, replied about stablecoins and CBDC (central bank digital currencies). It appeared that as of October 2021, 110 countries - more than half of the world - are working on launching their digital currency. The Russian Federations is also on its way for crypto rubble. Such stablecoins as USDT could be useful as financial tools on digital markets, but CBDC would guarantee even more security, Georgieva says. So far, CBDC has been fully launched only in the Bahamas. In other countries, such assets are only being tested. For example, China has been conducting tests for over two years, and there is no final decision upon it. Gary Gensler: “SEC will not prohibit cryptocurrency” Gary Gensler, a chairman of the Commodity Futures Trading Commission (SEC), touched upon the crypto industry during his speech to the financial service committee. The report also was about the measures taken by China against cryptocurrencies, and the main question was asked if the SEC is going to follow the same path. With his answer, Gensler assured that the United States has an entirely different approach to that problem. There is no talk of a complete ban on cryptocurrencies (although the final decision lies with Congress, one of the three highest government bodies). At the same time, the chairman noted that many cryptocurrencies look like investment contracts or other securities, which means it requires appropriate regulation.

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ETH futures are more popular than BTC with institutional investors JPMorgan said that Ethereum futures are trading at a premium due to the flow of institutional funds from similar assets based on the main cryptocurrency. BTC futures after the September correction are trading below the spot price of the crypto coin. Analysts say the whale's attention to ethereum futures speaks to "healthy demand for ethereum compared to bitcoin from institutional investors." These are large organizations such as corporations or hedge funds. "This is a setback for Bitcoin and a reflection of weak demand by institutional investors that tend to use regulated CME futures contracts to gain exposure to Bitcoin,” JPMorgan analysts commented on the "strong demand divergence". Opinion: it is not profitable for regulators to “crush to death” the main crypto coin The founder of Melanion Capital, Jad Comair, believes that it is simply not profitable for regulators to "crush to death" bitcoin. Thus, the entrepreneur expressed disagreement with the point of view of the head of Bridgewater Associates, Ray Dalio, who recently announced a potential threat to the first cryptocurrency. “I think overall that is a very extreme scenario and I do not see a developed country like the US or even all the G7 countries take such a harsh and strong step,” the CIO of Melanion Capital said. Comair said most governments want to regulate the digital asset industry in order to protect the interests of investors. And after the emergence of "adequate and correct regulation, we will see the full power of cryptocurrencies," says the crypto enthusiast. Twitter launches bitcoin transfers On Twitter, you can now make transfers in BTC. The functionality, for now, is available to owners of devices based on IOS. However, the company promises to provide a similar opportunity for Android users in the near future. The innovation will allow users of the social network to send donations in cryptocurrency to their favorite bloggers. They plan to carry out operations with bitcoins through the Lightning Network, with the help of which BTC payments will be faster and cheaper. In order to take advantage of the new functionality, you will need to connect a third-party service to your Twitter profile, for example, Venmo from PayPal, Patreon or CashApp. At the same time, the company does not plan to introduce additional fees for transactions in digital currency.

Banks from the USA and Europe oppose the restrictions on working on the crypto market The largest American and European banks, including JP Morgan and Deutsche Bank, are confident that the latest regulatory requirements limit the work of financial institutions on the crypto market. Earlier, it was decided that financial institutions that have digital assets must ensure their full backup. The initiative came from the Basel Committee on Banking Supervision of the Bank for International Settlements. The committee believes that when banks invest in crypto assets, it is necessary to adhere to a "conservative approach", since digital currencies pose a possible threat to the financial stability of a credit institution. “We find the proposals in the consultation to be so overly conservative and simplistic that they, in effect, would preclude bank involvement in crypto asset markets,” the Global Financial Markets Association said in a letter to the Basel Committee. Banks believe that the new requirements are an attempt by regulators to stop or deprive financial institutions of any incentives to develop in new markets. Mike Novogratz prefers to remain calm amid falling major crypto coins Galaxy Digital founder Mike Novogratz said that he was "not nervous" about the short-term prospects of the digital asset market, until BTC fell below $ 40'000, and ETH - $ 2'800. “As long as those [levels] hold, I think the market is in good shape,” he said. The entrepreneur considers the fall of bitcoin on Monday, September 20, below the level of $43'000, a "healthy correction", which is caused by the market's concern about the decisions of American regulators and data on the probable default of the largest developer in China, Evergrande. Novogratz is confident that the fall in the rate of cryptocurrencies did not have a significant impact on institutional investors. “I see nothing but the interest and activity on the part of our clients and corporate investors,” added Novogratz.

Hackers attacked pNetwork project and stole $12.5 million worth of cryptocurrency Unknown persons hacked pNetwork cross-chain platform. The team of the crypto project wrote about the loss of 277 bitcoins, which equals about $12.5 million. «We're sorry to inform the community that an attacker was able to leverage a bug in our codebase and attack pBTC on BSC, stealing 277 BTC (most of its collateral). The other bridges were not affected. All other funds in the pNetwork are safe,” wrote the pNetwork team. The project team also announced that vulnerabilities in the platform code have already been identified and work is underway to eliminate them. "The bridges will be restarted after they are secured," probably within hours, the company said. The pNetwork team published a message for hackers asking them to return the stolen assets for a reward of $1.5 million. However, it seems that the platform was hacked by "black" hackers who do not intend to return the stolen cryptocurrency. Erdoğan declared war on digital currencies Turkish President Recep Tayyip Erdoğan believes the country is at war with digital currencies. At the same time, Turkey supports blockchain technology and intends to become the center of its development, but the enthusiasm of local authorities does not extend to crypto assets. “We have a separate war, a separate fight against them. We would never lend support to [cryptocurrencies]. Because we will move forward with our own currency that has its own identity.” the Turkish President said. In April of this year, the Central Bank of Turkey introduced an official ban on cryptocurrency payments. This means that local businesses have lost the ability to conduct transactions involving digital assets. Among the reasons for such a radical decision were high volatility and the threat of crime.

Warren again insists on the need to regulate the crypto market The collapse of the crypto market and disruptions on the BTC exchanges indicate the need for regulation of this area by the SEC. This opinion was voiced by US Senator Elizabeth Warren. “In a matter of hours, the $400 billion in market value simply evaporated,” the senator said. The politician cited the example of a notional retail investor who lost his money when the market went down. According to her version, he could invest right before the collapse and then take his investments. However, crypto platforms like Coinbase were not available. Crypto project raised $22.8 million The dTrade crypto derivatives platform based on Polkadot raised $22.8 million. The participants in the transaction were Polychain and Alameda together with Hypersphere, DeFiance, CMS, Divergence, MGNR, Altonomy. The received financing is intended for lending to market makers (MM), who will provide liquidity to the exchange order books. Representatives of the project claim that they have already secured the support of "the largest MM in the crypto industry." “Market makers are market participants who place orders to buy and sell certain traded assets. MM provide efficient markets by allowing traders to smoothly open and close positions at near fair prices,” the statement said. Cardano can rise in price several times due to a successful hard fork The cost of Cardano can grow 3-5 times, says Nikita Soshnikov, CEO of Alfacash. He believes that more and more DeFi projects will appear on the network. This will have a positive effect on the liquidity flow. “It is difficult even to predict the timing of when such a leap is possible because it is not clear which projects will start working on the Cardano blockchain and how much they will be in demand by users,” the expert noted. He also suggested that Cardano has the potential to rise in price to $6. That is, the crypto coin can grow by 150% from the current levels.

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Most South Korean crypto exchanges will cease operations Most cryptocurrency platforms in South Korea will stop operating. We are talking about 40 out of about 60 exchanges. The reason behind it is non-compliance with FSC rules. The new requirements include compliance with the KYC mechanism together with partners, which are credit institutions. Banks do not seek to develop cooperation with trading platforms, which may attract additional attention of regulators. Crypto exchanges must be registered by September 24, but by September 17, companies are required to notify users of the likely closure if they fail to go through this procedure. Media reports that only 20 companies have complied with the regulations. The damage to payment companies due to the introduction of Chivo into the financial system of El Salvador was estimated at $1 billion The probable damage to payment companies due to the introduction of the Chivo BTC wallet into the financial system of El Salvador could amount to $1 billion. This opinion was expressed by the former top manager of the Liquid crypto exchange Mario Gomez Losada. According to IHS Markit, about 70% of Salvadorans receive bank transfers from abroad. About 60% of such transactions are carried out by payment systems. 38% are processed by credit companies. Payment service fees are sometimes quite high for international transactions. For example, a $100 transfer via Western Union from a US account to El Salvador reaches $5. “Remittances are an area where the status quo in our traditional financial system is terrible, with extraordinarily high fees levelled at populations that can ill afford them. It’s a worn-out Twitter saying, but bitcoin really does fix this,” said Matt Hougan, chief investment officer of Bitwise Asset Management.

Coinbase has a conflict with the SEC The SEC has warned Coinbase about its readiness to take the project to court. The Securities and Exchange Commission considers it illegal for the crypto platform to launch the Lend service, which allows users to accrue interest on the digital assets of exchange clients, similar to securities. At the end of June this year, Coinbase announced the launch of a service for cryptocurrency owners who would like to make a profit in USDC. Lend service offers a rate of 4% per annum, which is 8 times the average rate for high yield savings accounts in the country. “They [the SEC] refuse to tell us why they think it's [the service] a security, and instead subpoena a bunch of records from us (we comply), demand testimony from our employees (we comply), and then tell us they will be suing us if we proceed to launch, with zero explanation as to why,” “They [the SEC] refuse to explain to us why they think that it [the service] is a security, and instead asked for documents (we provided), summoned our employees for questioning (we agreed), and then said that they would file court, if we continue to launch without explaining the reasons, " said Coinbase CEO Brian Armstrong. The new service of the crypto platform is a loan that the client provides to the exchange in the form of USDC. Coinbase believes the new product has similarities to bank savings accounts. Ukrainian authorities legalize cryptocurrency Today, on September 8, deputies of the Ukraine’s Verkhovna Rada in the second reading approved the draft law "On virtual assets" aimed at regulating the digital assets industry. Now the owners of cryptocurrencies will be able to legally perform transactions with them, and international projects - to register a blockchain business on the territory of Ukraine. The law reflects the concept and legal status of a digital asset, as well as secures ownership and transaction rights. International crypto-exchanges, where virtual assets are traded, have the opportunity to work on the territory of Ukraine. “Cryptocurrency holders will receive a number of benefits. Due to the fact that legislative regulation of this area will appear, they, at least, will be able to protect their condition in virtual assets if something happens. They will also be able to legally exchange crypto assets, declare them. This process will be completely "white". In addition, we expect that there will be a whole market of intermediary services for paying for goods with cryptoassets, storing them, exchanging them. This will expand the possibilities of their use,” said Alexander Bornyakov, Deputy Minister of Digital Transformation for IT Development. Hong Kong is considering tightening controls on the digital asset market Hong Kong authorities are exploring the possibility of tightening control over the digital asset market. The new regulations should help close the loopholes for illegal cryptocurrency transactions that remained in the 2019 law. The Hong Kong Securities and Futures Commission (SFC) plans to take over the regulation of crypto assets and issue licenses to projects from this industry. According to the rules of 2019, in order to avoid the attention of the regulator, companies had to choose tokens for work that do not formally fall under the definition of "security" and "futures". Julia Lyng, deputy executive director of the structure, pointed to "significant losses for investors." In her opinion, "Hong Kong should put an end to unlicensed cryptocurrency trading and engage in financial literacy of investors."

Solana CEO is confident that there are no bubbles in the cryptocurrency market today Solana CEO Anatoly Yakovenko believes that currently there are no bubbles in the crypto market. It is noteworthy that the growth rate of the SOL rate is significantly higher than that of most digital currencies. Over the past month, Solana's price has tripled. Some crypto enthusiasts believe in the further growth of this token. “Now is a completely different time and it is not worth comparing the current situation with a bubble. In 2017, the bubble quickly inflated and quickly burst, but since then three years have passed and all this time people have been working, creating various solutions and projects. Now is the time when we have created the infrastructure so that new engineers and developers quickly “merge” into the ecosystem,” Yakovenko believes. US Senator: cryptocurrencies are the new shadow banks Massachusetts Senator Elizabeth Warren continues to criticize the crypto industry and urges regulators to take control of projects related to digital assets. This is stated in a series of public letters between Senator, SEC head Gary Gensler and Treasury Secretary Janet Yellen. Warren previously called on Yellen for a "coordinated and consistent regulatory strategy to mitigate the growing risks that cryptocurrencies pose to the financial system." In her address, the senator pointed out that "some" digital currencies are very volatile, and the unpredictability of their rate movements can provoke financial instability. Warren is actively promoting the initiative to "ban the holding of cash deposits that provide stablecoins in the United States." She is confident that this could slow down the market boom and reduce interest in such assets. “Crypto is the new shadow bank. It provides many of the same services, but without the consumer protections or financial stability that back up the traditional system. It’s like spinning straw into gold,” Warren said. Retail network Grupo Elektra will start accepting cryptocurrencies Mexican entrepreneur and owner of Grupo Elektra retailer Ricardo Salinas Pliego made a statement that the retailer intends to add support for the Lightning Network to accept payments in BTC. According to the businessman, this will happen very soon. It is likely that in the future, other companies of the holding will add support for the first crypto coin. Pliego has previously made statements in support of bitcoin. Last autumn, he announced that he had invested 10% of his own "liquid investment portfolio" in BTC.

Analysts predict the growth of the Solana token The price of the Solana token in 2021 has already increased 78 times, however, analysts believe that the value of the crypto coin will continue to grow. The Spartan Group believes that SOL will triple in price. "If $90B is the right valuation for $ADA, then $SOL is easily a 3X from here," Spartan Group analyst wrote on Twitter. Anonymous cryptanalyst Bluntz shared a similar point of view. He believes that according to technical analysis, the price of Solana is capable of reaching the $200 mark and even rising higher. Genesis Capital's head of digital assets and finance, Matt Ballensweig, is also confident that SOL will grow. He pointed to the rather modest capitalization of the token, even at today's prices. ETH rises above $3,500 On September 1, the cost of Ethereum surpassed the $3,500 mark. This happened for the first time since the fall of the cryptocurrency in May this year. According to Coinmarketcap, ETH was worth $3,535. Over the past 7 days, the coin rate has grown by almost 13%. In early August of this year, the London hard fork took place on the ETH network, which changed the mechanism for calculating commissions for operations. A part of the reward for miners who received it for mining a block is now burned.

American billionaire says digital currencies are "a limited supply of nothing" An investor and trader who rose to prominence after the mortgage crisis in 2008, John Paulson, sees digital currency as a bubble. In his opinion, the crypto market "will ultimately turn out to be useless." Paulson advised against investing in cryptocurrencies. “Cryptocurrencies are a bubble. I would describe them as a limited supply of nothing. So to the extent there’s more demand than the limited supply, the price would go up. But to the extent the demand falls, then the price would go down. There’s no intrinsic value to any of the cryptocurrencies except that there’s a limited amount,” said Paulson. Earlier, the chief investment strategist of Bank of America, Michael Hartnett, expressed the opinion that BTC is "the worst of the bubbles." According to him, the rapid rise in the bitcoin rate is the result of speculative mania. Cream Finance project accused of exit scam Representatives of the Cream Finance cryptocurrency project announced that the platform was hacked and funds were stolen. However, participants in the digital asset market believe that this could be an exit scam. This is the project's second attack this year. Cream Finance claims that hackers have compromised the platform's DeFi protocol security. According to preliminary data, criminals stole more than 418 thousand AMP tokens and 1.3 thousand ETH. Thus, there were stolen totaling $30 million of crypto assets. However, the well-known crypto blogger Mr. Whale is convinced that this is not the case. On his Twitter page, he called Cream Finance's announcement an excuse to cover up the exit scam. Solana and Gnosis tokens rise in price The cost of the native Solana token, according to CoinGecko data as of August 30, has risen above the $100 mark. Over the past 24 hours, the coin has risen in price by 4%. The price of another token - Gnosis - this morning made a sharp jump to $418, having risen in price by 42%. After that, the price of the crypto coin began to decline. Gnosis is currently priced at $355. Crypto industry participants associate the rise in the Gnosis rate with the launching of token trading on Binance. Altcoin is available in pairs with BTC, BNB, BUSD and USDT.

The hacker who hacked Poly Network declared his readiness to return the stolen funds The hacker, who participated in the hacking of the Poly Network project and stealing $611 million, announced his readiness to return the stolen funds. This is how the hacker reacted to the request from the Poly Network team, in which they had asked the criminals to return the stolen assets. The founders of the project said that the hackers committed the largest theft in the history of DeFi, so the authorities of various states are initiating their prosecution. Afterwards, the attacker made a statement, embedding it in an ETH transaction, which he sent to himself. In another message, he wrote that he could not contact the Poly Network team and asked for a wallet address to return the stolen funds. As a result, representatives of the crypto project created three wallets. According to media reports, the hacker has already made the first payments in the amount of more than 1 million USDC. In addition, the attacker sent $1.1 million in BTCB token, $2 million in Shiba Inu and over $622,000 in FEI stablecoin. We would like to remind our readers that on August 10, there was the largest hack in the history of decentralized finance. The Poly Network team has publicly asked miners and cryptocurrency exchanges to blacklist tokens coming from the addresses of the thieves. Cardano rises sharply amid the upcoming hard fork Cardano's price has surged 11% between August 10 and August 11 to $1.77, according to data from Coinmarketcap. This happened against the background of the statement of the creator of the project, Charles Hoskinson, about the announcement of the launch date for smart contracts as part of the Alonzo Purple update. “We will know the final date based on the feedback we receive from exchanges, EMURGO and other partners who need to integrate,” Hoskinson said during a live broadcast on YouTube. The developers also claim that the hard fork will add smart contract functionality to the blockchain. Thanks to Alonzo Purple, it will be possible to create DeFi applications. PayPal-related payment service added cashback in digital currencies Now, credit cardholders who use Venmo's payment service can convert their monthly cashback to Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Interestingly, the service is owned by Paypal. According to its own data, Venmo's usual commissions for the purchase of digital currencies can vary from 0.5% to 2.3% of the total transaction amount, however, there is no commission under the new Cash Back to Crypto program. At the same time, according to the terms of the program, it will not be possible to withdraw the cryptocurrency to external wallets. “We are delighted to introduce this new level of interoperability on the Venmo platform by linking our Venmo credit card to cryptocurrencies. We provide our customers with another way to spend and manage their money with Venmo,” said Venmo General Manager Darrell Ash.