Iran cuts off electricity to crypto miners to save energy for the summer period

    Iran’s Ministry of Energy has decided to cut down the supply of electricity given to the authorized crypto mines units of the country to ensure the enough power supply for the citizenry. This decision will be implemented on June 22, Tehran Times reported. A spokesman for the Iranian Energy Ministry, Mostafa Rajabi Mashhadi, said that…

    Bitcoin surges following the US Fed raise rates at the highest level since 1994

    Bitcoin’s price fluctuated after the Federal Reserve announced further monetary tightening on June 15, falling to as low as $20,270 after the Fed’s statement. But an hour after the announcement, the cryptocurrency was traded at $21,444. As a long-awaited step, the Fed announced that it will raise the fed-funds rate, the interest rate at which…

    How will Fed balance sheet cuts affect the crypto markets

    The US Federal Reserve is starting paring back its $9 trillion balance sheet that ballooned in recent years in a move called quantitative tightening (QT). What will happen to the crypto markets when quantitative tightening takes full effect, and the Federal Reserve stops the money printer? Whether QT, starting on June 1, will put an…

    Investment Monitor: Will Dubai’s cryptocurrency gamble pay off?

    While cryptocurrencies are receiving a mixed reception around the world, Dubai is doubling down on its efforts to place itself at the front and center of the technology, writes Lara Williams on Investment Monitor. The news that United Arab Emirates’ (UAE) national airline, Emirates, plans to accept payment in Bitcoin is a defining moment in…

    Crypto firms join forces to launch scam reporting platform ‘Chainabuse’

    Binance, Circle, and some other prominent crypto firms have launched a crypto scam reporting platform. The tool “empowers anyone in the crypto economy to warn others about scams, hacks or other fraudulent activity as they encounter it.” Crypto firms have joined forces and launched a new, multi-chain scam reporting platform. TRM Labs, Binance.us, Circle, Solana…

    US Treasury first imposes sanctions on a crypto mixer

    The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced new sanctions on a cryptocurrency mixer Blender.io, which happens to be used by North Korea (DPRK) and other illicit activity. In a press release on May 6, OFAC said that the mixer is allegedly being used by hackers in North Korea…