Kentucky to Scrutinize Contracts Offering Cheaper Electricity to Miners
The Kentucky Public Service Commission (PSC) has reportedly opened a formal investigation into two proposed contracts that would offer discounted electricity prices to new crypto-mining operations. According to a Dec. 5 statement from environmental law group Earthjustice, the government department would be looking to determine whether subsidizing crypto mining operations will raise electricity costs for Kentucky residents. (Cointelegraph)
Bitcoin Mining Difficulty Drops Most Since July 2021 as Crypto Winter Cuts Profitability
The difficulty of mining a bitcoin block fell by 7.32% today, with miners powering off machines as a brutal bear market eats into profit. The adjustment at block height 766,080 is the biggest downward change since July 2021, data from the mining pool BTC.com shows. That was when hordes of miners dropped off the network following China’s ban on the industry. The country was the world’s biggest bitcoin mining hub at the time. (Coindesk)
North Korean Lazarus Group Linked to New Cryptocurrency Hacking Scheme
The same strategy has been used by Lazarus before.
Report: Nigerian Finance Bill Has Provisions Allowing Govt To Tax Crypto Transactions
All forms of property shall be assets for this Act.
Crypto Lender Nexo to Exit the U.S Due to Lack of Regulatory Clarity
Nexo has announced that it plans to gradually phase out its services in the United States, citing a lack of regulatory clarity.
FTC Investigating Crypto Firms Over Misleading Advertising: Bloomberg
The U.S. Federal Trade Commission is looking into several unnamed crypto firms over allegations of deceptive or misleading advertising, the agency told Boomberg News.
Dropping Short-Bitcoin Outflows Indicate Positive Sentiment
The decreasing outflow volumes across short-Bitcoin products could be an indication of improving fundamentals as opportunistic investors rush to buy the dip.
Breaking: Crypto Lending Giant Nexo To Suspend U.S. Operations
On Dec 5, crypto lender Nexo announced that it would discontinue operations in the United States within the next few months. The company specifically mentioned that it would immediately cut off access to its “Earn Interest Product” in eight U.S. states and is no longer allowing new registrations for its Earn product.
ApeCoin Reaches a Stiff Resistance Zone, Should Traders Look To Go Short
<a href="https://ambcrypto.com/?s=apecoin">ApeCoin [APE]</a> has performed well in the markets in the past ten days. It flipped the $3.2 area from resistance to support on 25 November and posted a 39% surge over the five days that followed. Since then, APE saw a pullback to $3.88.
‘Twitter Coin’ Hints Unveiled by Tech Sleuth
Twitter may be taking more decisive strides toward integrating crypto payments — and, perhaps, a native coin.
