News updates January 6, 2022
1. Bitcoin Dips Below $44K, Crypto Economy Drops 4.5%, Traders Rush to Stablecoins
The price of bitcoin dropped below the $44K zone on Wednesday to $43,678 per unit as the entire crypto-economy has shed billions in value. At the time of writing, the overall crypto economy is down 4.5% as it dipped to $2.25 trillion in value.
Bitcoin and Crypto Economy Sheds Billions, Crypto Fear & Greed Index Indicates ‘Extreme Fear’ Is in the Air
Bitcoin (BTC) slid in value today, roughly 5.4%% during the last 24 hours. Just after 3:00 p.m. (EST) prices dipped from $46K to $43,678 per unit. BTC’s price is just below the $44K price range against the U.S. dollar.
2. Kosovo Halts Cryptocurrency Mining Amid Energy Crisis
The government of Kosovo has decided to suspend crypto mining activities in the country as part of measures to deal with power shortages this winter. The move has been proposed by a special parliamentary committee tasked with bridging the gap between electricity demand and supply.
Kosovo Authorities Ban Crypto Mining to Save Needed Energy
The executive power in Pristina has moved to stop the energy-intensive minting of digital coins in Kosovo, a partially recognized republic in Southeast Europe. The country is facing electricity shortages during the cold winter months, local media reported.
3. Canaan Expands Mining Operations in Kazakhstan Amid Power Deficit, Protests
Hardware manufacturer Canaan is expanding its crypto mining operations in Kazakhstan. The company is now cooperating with a number of mining firms there and has already deployed over 10,000 pieces of hardware despite the country’s challenges with electricity supply. Increased energy prices have also provoked protests that could potentially affect the industry.
4. El Salvador Drafts 20 Bills for Legal Structure of Bitcoin Bonds — Funds to Be Used to Build Bitcoin City, Buy BTC
El Salvador is preparing to introduce 20 bills to provide a legal framework for its upcoming bitcoin bonds. The funds raised will be used to build infrastructure for Bitcoin City and buy more bitcoin, the Salvadoran government explained
El Salvador Drafting Legal Framework for Bitcoin Bonds
El Salvador’s finance minister, Alejandro Zelaya, said in an interview on local television Tuesday that his government will send about 20 bills to Congress concerning the country’s bitcoin bonds.
The bills will cover financial markets and investment in securities to provide a legal foundation for issuing bitcoin bonds, he explained, adding that the legislation will create a framework to cover corresponding market regulation and issuance of securities in crypto assets. The finance minister described:
This is to provide a legal structure and legal certainty to everyone who buys the bitcoin bond.
5. Nasdaq-Listed Company Offers Dividends in Bitcoin, Shares Skyrocket
The US-based publicly traded blockchain infrastructure and analytics company BTCS has announced it will offer dividends payable in bitcoin (BTC) to its shareholders, apparently becoming the world’s first public company to do so.
According to an announcement from BTCS on Wednesday, the company will give investors the option to receive their dividends paid in bitcoin later this year, saying “cryptocurrency adoption and financial freedom” is paramount to the company’s ethos.
6. The Sandbox Partners With a Myriad of Hong Kong Luminaries, Plans to Launch Metaverse 'Mega City'
The Animoca Brands subsidiary and blockchain-based virtual world, The Sandbox, has announced the firm has made multiple partnerships in Hong Kong, and has plans to create a “Mega City” in the metaverse. Partners who acquired land in The Sandbox to build Mega City include Hong Kong tycoon Adrian Cheng, professional services firm PWC Hong Kong, and the Hong Kong actress and model Shu Qi.
