Proof-of-Working Hearing

Brief news about proof-of-working hearing and other elements about cryptocurrencies and blockchains are available here. You can see and explore the stories about today’s crypto news.

Regulation news

The United States House Committee in Energy and Commerce declared that they would have a hearing about the crypto industry’s energy. This meeting will hold on Thursday, January 20, 2022. This hearing will focus on proof-of-work (PoW) blockchains. This hearing also will explain how the crypto assets with PoW could migrate to cleaner alternatives.

Investment news

Chief Financial Officer Jason Warnick reported to the Wall Street Journal, the trading platform Robinhood is not interested to spend its considerable cash on crypto-assets anytime soon. He added that they had seen no “convincing reasons strategy” for their trading and business “to put any significant amount” of their corporate cash into the crypto assets.

According to Bloomberg, El Salvador’s bitcoin trades are increasing risk to a sovereign credit outlook. This outlook was already weak and is also reflecting a growing chance of default.

The Binance Labs, the innovation incubation arm, and the venture capital of major crypto exchange Binance, invested in many crypto assets. Such as Nine Chronicles, an open-sourced, decentralized role-playing game. It is worth mentioning that Nine Chronicles is trying to expand its team to a product suite. This also plans to work with the Binance ecosystem.

Nikkei reported that the holding behind DeCurret, like the proof-of-working hearing, plans to sell its crypto business to investment platform Amber Group. The DeCurret is a Japan-based company that offers its exchanges and trading of digital assets.

The software provider, Lukka and Crypto data, jumped to USD 110 million. They achieved this amount in a Series E funding round. Marshall Wace, S&P Global, Soros Fund Management, and more backed these series. After evaluating this 110m, we understand that it is USD 1.3 billion after its rise. This team said that the popularity of the funds was because of “its global expansion strategy and aggressive growth.”

Security news

The Security firm with the name PeckShield, mentioned a list of 55 potential scam projects on Binance Smart Chain (BSC). The name of these projects is “rug-potentials”. According to this firm, these mentioned projects include malicious functions that allow administrators to mint unlimited tokens, block holders, and blocklist accounts from selling their tokens.

A service with the name that released its WTF tokens shows people’s time on Ethereum (ETH) blockchain transactions. In the subsequent bot trading, traders drained ETH 58 (about USD 180,000) from the Wrapped ETH (wETH) and the WTF liquidity pool. Furthermore, some other users are reporting that they’ve lost their money and funds.

Adoption news

In this proof-of-working hearing, we see that the Northwest Arkansas Council is offering a sum of USD 10,000 worth of bitcoin (BTC). This council includes the cities of Rogers, Fayetteville, Bentonville, and Springdale. This council also offers mountain or street bikes to attract remote tech professionals to move to the region, per the local media outlet KNWA reported. However, if the professional decides, they can easily choose the cash and an annual membership to a cultural or an art institution.

The San Diego State University (SDSU) declared that it plans to welcome digital currency donations in ETH and BTC. The Chief Financial Officer of The Campanile Foundation, Fuhriman, announced that people would withdraw their funds around 1% of the total crypto holdings. They do this because of campus activities. This work aims to discover the way universities interact with crypto.

Legal news

ConsenSys, the Ethereum-focused blockchain company, filed a lawsuit against Kavita Gupta, the former head of its venture capital arm. This incident happened because Gupta forced her to hire and work in that company. She claimed that she had stellar and significant qualifications that turn out that all claims are fraudulent. This firm also claimed that the credentials from Harvard Business School, The World Bank, and MIT were fabricated.

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