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In a letter Wednesday addressed to Pablo Vegas, the CEO of the Electric Reliability Council of Texas (ERCOT), the group expressed concerns that bitcoin mining's enormous demand for energy in Texas is straining the state's grid, adversely impacting consumers and U.S. climate goals. ERCOT manages the Texas electricity grid, which
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Groups supporting Russia’s war effort in Ukraine have been actively collecting cryptocurrency to fund paramilitary operations and evade sanctions, researchers say. According to a new report, these organizations use Telegram to raise money then used to pay for equipment and training. Paramilitary Groups Employ Cryptocurrency to Fund Russian Operations in Ukraine Pro-Russian
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The lobby groups, which also include the Futures Industry Association, the International Swaps and Derivatives Association, the International Securities Lending Association, the Bank Policy Institute, the International Capital Markets Association, and the Financial Services Forum, want to see the cap raised from 1% to 5% of a bank’s Tier 1
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Earlier on Thursday, the Ethereum blockchain – which underpins the world's second largest cryptocurrency – changed its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS), doing away with the need for energy-intensive computing power. Bitcoin, a PoW network, has been facing mounting criticism over its energy use, which is on
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The first known case of a nonfungible token (NFT) created and shared by a “terrorist sympathizer” has come to light, raising concerns that the immutable nature of blockchain tech could help the spread of terrorist messages and propaganda. In a Sept. 4 article in The Wall Street Journal (WSJ), intelligence experts
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Pump-and-dump operations, which fraudulently manipulate prices by disseminating false information, have existed in economic contexts since at least the 1700s. For instance, con artists with shares in the South Sea Company started making false statements about the business and its revenues in the beginning of the eighteenth century. The plan was
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According to data from crypto analytics firm Chainalysis, users have sent more than $2 million in crypto to 54 pro-Russian groups since Feb. 24, a fraction of that received by many wallets controlled by the Ukrainian government.In a Friday blog post, Chainalysis said it had tracked funds sent to social
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"Everyone thinks of development as providing basic livelihood needs like food, bamboos for shelter, a cow or a goat (through animal husbandry schemes), but nobody has thought of equity for them, probably because the people here are not tech savvy," Gupta said. So, what I tried to do was give
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Caste certificates, critical to India's targeted welfare schemes, in one district where tribals are 80% of the population, will be distributed today. The crypto project is the brainchild of Shubham Gupta, 28, an officer of the extremely-difficult-to-qualify-for Indian Administrative Services, who use to work in his father's shoe shop in
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Yuga Labs, the creator of two of the most popular ape-themed nonfungible token (NFT) offerings — Bored Ape Yacht Club (BAYC) and OtherSide — witnessed yet another orchestrated phishing attack with investors losing over 145 Ether (ETH) or nearly $260,000 at the time of writing.OKHotshot, a blockchain detective and a
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