News updates January 11, 2022
1. Estonia Offers to Share Crypto Experience With US to Identify Best Practices for Digital Assets
Estonian Finance Minister Keit Pentus-Rosimannus has offered to share her country’s experience in regulating cryptocurrencies with the U.S. in a discussion with Treasury Secretary Janet Yellen.
2. Bitfarms Buys the Dip: 1,000 Bitcoin Added to Treasury as BTC Falls While Mining Hardware Prices Remain High
Global bitcoin mining company Bitfarms has bought the dip and added 1,000 bitcoins to its balance sheet while the prices of mining hardware remain high. The company’s corporate treasury now holds more than 4,300 bitcoins.
Mining Company Buys the Dip
Bitfarms Ltd. has taken advantage of the falling price of bitcoin. The publicly traded bitcoin mining company announced Monday that it has purchased 1,000 BTC for its treasury. The announcement details:
During the first week of January 2022, Bitfarms purchased 1,000 BTC for US$43.2 million. This increased the BTC holdings 30% to over 4,300 as of January 10, 2022.
3. UK Lawmakers Form Crypto and Digital Assets Group to Ensure Regulation Supports Innovation
U.K. lawmakers have formed the Crypto and Digital Assets Group to ensure that new rules for the crypto industry support innovation. “We are at a crucial time for the sector as global policymakers are also now reviewing their approach to crypto and how it should be regulated,” said the British parliament member who will chair the group
British Lawmakers Form Crypto and Digital Assets Group
U.K. parliament members and members of the House of Lords have formed the Crypto and Digital Assets Group, the Financial Times reported Friday
Scottish National Party (SNP) MP Lisa Cameron, who will chair the cross-party group of lawmakers, explained that the group will work to ensure that new rules for the crypto industry “support innovation.” She detailed:
We are at a crucial time for the sector as global policymakers are also now reviewing their approach to crypto and how it should be regulated.
4. El Salvador to Add More Geothermal Energy Sources to Power Bitcoin City
The president of El Salvador, Nayib Bukele, has confirmed that the country is making investments to secure a geothermal power source for the construction and operation of the upcoming Bitcoin City, which will be financed with the earnings of the so-called “volcano bonds.” Bukele stated there are high chances of finding a well in the area of the Conchagua volcano that will be able to power the whole city by itself.
El Salvador Investing in New Geothermal Energy Sources
The president of El Salvador, Nayib Bukele, has confirmed that the country is making investments to increase its geothermal energy production. Bukele explained that the power coming from the volcanoes, managed and maintained by a state company called Lageo, produces more than 1,000 gigawatts for the nation yearly.
5. Binance Becomes Official Sponsor of the TotalEnergies Africa Cup of Nations (AFCON 2021)
Binance is thrilled to announce that it is an official sponsor of the 2021 TotalEnergies Africa Cup of Nations (AFCON) tournament, taking place from January 9 till February 6, 2022 in Cameroon.
This sponsorship deal will make Binance the exclusive cryptocurrency and blockchain platform for the AFCON 2021 tournament as we take our global brand and technology to African football.
Binance will also be the official partner of the Assist of the Day / Binance Assist of the Week / Binance Assist of the Tournament, which will be promoted across CAF’s social media channels and across all six venues in five cities in Cameroon.
6. Yellow Card Announces It's Resuming Deposits and Withdrawals
Yellow Card has announced the resumption of naira deposits and withdrawals in Nigeria via a statement from the cryptocurrency exchange platform. The move by the company comes almost a year after a central bank directive forced Yellow Card to suspend deposits and withdrawals.
