After a shocking year for Bitcoin (BTC), public miners will focus on strengthening balance sheets and minimizing costs this year, according to industry analysts. Bitcoin mining cost minimization will likely lead public miners to either go private or merge with other companies in 2023, Hash Rate Index’s Bitcoin analysts Jaran Mellerud and Colin Harper predicted. In a blog post titled “10 Bitcoin mining predictions for 2023,” the analysts pointed out that public miners are burdened with strict reporting requirements, such as spending millions of dollars on annual reporting. After many Bitcoin mining stocks plummeted 90% in 2022, public miners could …

The Israeli Securities Authority (ISA) proposes a framework for regulating digital assets as an increasing number of Israeli investors are exposed to digital assets, and over 150 companies operate in Israel, according to the regulator. The regulator released a proposal in January 2023, outlining its purpose to achieve the “double value” of responding to the risks associated with investing in digital assets alongside giving the authority means to adopt a regulation. The authority has established multiple committees over the past several years to examine and regulate the issuance of cryptocurrencies and promote the development of digital markets in Israel. The …

Ripple's CEO, Brad Garlinghouse, shared in a Jan. 3 Twitter thread he's “cautiously optimistic” about the United States gaining "breakthrough" regulatory clarity for the cryptocurrency industry in 2023. To mark the first day of the 118th Congress, Garlinghouse shared his hopes of 2023 being the year the U.S. gained regulatory clarity for crypto and added support for regulation is “bipartisan & bicameral.” Today is the first day of the 118th Congress. While prior efforts at regulatory clarity for crypto in the US have stalled, I am cautiously optimistic that 2023 is the year we will (finally!) see a breakthrough. A …

Continuing with 2022’s trend, there is a lack of positive excitement in the crypto market. While Bitcoin (BTC) and altcoins have remained stagnant to start 2023, there are a few reasons why volatility could spike in January. Winklevoss Letter to DCG stirs up bankruptcy FUD On Jan. 2, Cameron Winklevoss, the co-founder of Gemini, penned an open letter to Digital Currency Group (DCG) founder, Barry Silbert demanding answers on the $900 million in locked customer funds. Gemini launched the “Earn” program in coordination with Barry Silbert and the $900 million in customer funds have been locked since Nov. 16 due …

2022 saw the fall of many linchpin crypto and blockchain firms as the May market drawdown shook the industry. It caused many cryptocurrencies to lose value and many investors to pull their money from the market. Furthermore, the unprecedented knock-on effects of the meltdown exposed many blockchain and cryptocurrency firms that were ill-prepared for turbulent times. However, a collective of companies was able to resist negative market forces and grow amidst the turbulence. The crypto market as a whole continues to grow and has now reached 320 million users. As we look back on a year full of surprises, we …

According to an announcement on Jan.3, blockchain fintech firm GammaRey signed a merger agreement with financial e-commerce and consumer data analytics company GoLogiq. Both companies are based in the U.S., while GoLogiq focuses on customers in Southeast Asia. As stipulated by the terms, GoLogiq will issue $320 million in common stock to acquire 100% of GammaRey's outstanding shares. The transaction is anticipated to be completed within the next few weeks, subject to conditions. As told by the two parties, the merger aims to "focus on the high-growth market of wealth management for Generation Z and Millennials." Regarding the transaction, Brent …

According to a recent report by Hash Rate Index, publicly-listed Bitcoin (BTC) miners took on more than $4 billion worth of debt during the run-up to the crypto bull market. Mesmerized by rising prices, industry rushed hand over fist to purchase Bitcoin application-specific integrated circuits miners on easy credit. However, in today's context of Bitcoin price collapse, skyrocketing electricity prices, lower market prices for mining rigs, and record-level mining difficulty, 2022 became an extremely difficult year for sector players. That said, some are holding on better than others. Top 10 publicly-traded Bitcoin miners by liabilities | Source: Hashrate Index On …

Pharmacies in Ukraine are embracing digital payments amid the ongoing war, with a major local pharmacy chain enabling payments in cryptocurrencies like Bitcoin (BTC). ANC Pharmacy, one of the biggest pharmacy chains in Ukraine, has partnered with Binance Ukraine to debut cryptocurrency payments via contactless crypto payment service Binance Pay. Starting from Jan. 3, ANC Pharmacy enabled its customers to proceed with instant payments while purchasing pharmacy products online, the pharmacy chain officially announced on Tuesday. ANC Pharmacy operates more than 1,000 pharmacies across Ukraine, running its own online pharmacy service. According to an official announcement, Binance Pay payments will …

Lee Jung-hoon, the former chair of the South Korean cryptocurrency exchange Bithumb, was found not guilty on Jan. 3 by the 34th Division of the Criminal Agreement of the Seoul Central District Court. Jung-Hoon was on trial under accusations of violating the Act on the Aggravated Punishment Of Specific Economic Crimes due to fraud. The case has been ongoing since October 2018, when the former chairman allegedly defrauded 100 billion won ($70 million) during negotiations for the acquisition of Bithumb from Kim Byung-gun, chairman of the cosmetic surgery company BK Group. Jung-hoon could’ve faced an 8-year sentence had he been …

There is little agreement among Bitcoin’s commentators over the last few weeks, with crypto execs, research analysts and billionaire investors offering wildly different takes on what's in store for Bitcoin for the year ahead. One crypto exchange founder expects Bitcoin (BTC) to spike to $40,000 by the “summer” of 2023, while a Bitcoin billionaire has renewed his bullish $250,000 BTC price prediction for the year. Erik Voorhees — $40,000 by the “summer” Erik Voorhees, founder and CEO of cryptocurrency exchange ShapeShift, was optimistic about a potential recovery of Bitcoin’s price during an interview with Bankless on Jan. 2, stating he …

Circle's chief strategy officer and head of global policy, Dante Disparte, believes that the turmoil in the crypto sector over the last year could mark the handover of crypto technology to more durable companies and "steadier hands" in 2023. In a Jan. 2 post for The World Economic Forum (WEF), Disparte highlighted the growing use of crypto in the financial services sector and opined that the ongoing bear market and exchange collapses may ultimately be a boon for the industry, paving the way for "responsible, always-on internet finance." "Just as it took the dot-com bubble bursting in the early 2000s …

On its surface, Andy Greenburg’s new book, Tracers in the Dark: The Global Hunt for the Crime Lords of Cryptocurrency, is a standard crime story. Fans of true crime podcasts will enjoy the crypto version and get a seat in the Federal Bureau of Investigation van as United States federal agents track down criminals through their crypto transactions. The first story recounted is that of a crooked Drug Enforcement Agency agent who stole funds from the online drug market Silk Road. It also addresses the hunt for Dread Pirate Roberts, aka Ross Ulbricht — Silk Road’s founder. Ross’ operational security …