The report builds upon data from the Bitcoin Mining Council to understand the impact of carbon-negative energy sources on Bitcoin’s (BTC) overall carbon footprint. Following an investigation and extrapolation of the results, it claims to then “predict when the entire Bitcoin network becomes a zero emission network.”Continue Reading on Coin Telegraph More
On Tuesday, Nexo disclosed that its board of directors had committed an additional $50 million to buybacks, building off the company’s initial $100 million repurchase program launched in November 2021. The approval green lights the discretionary repurchase of up to $50 million worth of NEXO tokens on the open market. Continue Reading on Coin Telegraph More
Good morning. Taiwan has begun targeting Chinese drones flying over its outlying islands for the first time, highlighting the risk that Beijing’s military pressure on Taipei could lead to actual conflict.Soldiers on Kinmen, a Taiwanese-controlled island just off the Chinese city of Xiamen, shot at a Chinese drone for the first time on Tuesday afternoon, the Army Kinmen Defence Command said. It said the uncrewed vehicle then flew away in the direction of Xiamen. “According to procedure, we warn, report, try to expel with measures such as flares, and if that fails, we fire shots,” said Major General Chang Jung-shun, spokesman for the command. The more assertive approach comes as Taipei seeks to balance the risk of sparking outright conflict against its desire to block China from demonstrating effective control over nearby waters and airspace or even Taiwanese territory.Interview: Malaysia’s former prime minister Mahathir Mohamad has blamed “US provocation” for the increased tensions over Taiwan and urged south-east Asian countries to move closer to China.Do you think Beijing’s military pressure on Taipei will lead to conflict? Tell me what you think at [email protected]. Thank you for reading FirstFT Asia — Emily Five more stories in the news1. China Communist party sets congress for October The Chinese Communist party will convene what is seen as its most important gathering of the decade starting on October 16, setting the scene for Xi Jinping to secure leadership positions that will give him an unprecedented third term in power.2. Musk seizes on whistleblower report Elon Musk is using a whistleblower report by Twitter’s former security chief to bolster his legal fight to terminate his $44bn deal to buy the social media company. Musk’s legal team has claimed that if true, Peiter Zatko’s allegations breach several aspects of the merger agreement struck in April but which the billionaire has been seeking to abandon since July.3. Gorbachev dies aged 91 Mikhail Gorbachev, the last leader of the Soviet Union, has died aged 91, following a “serious and long-term illness,” Russian state media reported, citing a Moscow hospital. A former rural communist apparatchik, Gorbachev ended the Cold War and began democratising the USSR in the 1980s during the perestroika era.4. Kerry seeks restart to US emissions talks with China The US climate envoy John Kerry praised China’s efforts at tackling global warming and urged Beijing to resume suspended talks on the issue, even as tensions flare with Washington over the status of Taiwan. The former secretary of state urged Xi Jinping to restart climate talks with the US, saying he was “hopeful” the countries could “get back together”.5. IMF approves bailout package for Pakistan The IMF has approved the disbursement of more than $1.1bn to Pakistan, reviving a stalled $7bn assistance package expected to help stave off default despite a severe economic crunch and devastating floods.Related read: Sri Lankan president Ranil Wickremesinghe has said the government will raise taxes and strengthen social safety schemes in a budget designed to help secure an IMF support deal and steer the bankrupt country out of a severe economic crisis.The day aheadIndia GDP The country’s economy is expected to have expanded by 15.2 per cent in the last quarter, according to a Reuters poll of economists. (Reuters) Evergrande court hearing The embattled Chinese property developer faces a court hearing today in Hong Kong after an investor in its online real estate and automobile marketplace, Fangchebao, filed a winding-up petition against the company.Nord Stream 1 maintenance Russia will halt gas supplies through its largest pipeline to Germany for three days of maintenance work starting today. Fears that the flow of gas will not resume afterwards, which alarmed German officials the first time this happened, have resurfaced.What else we’re reading Rise in Chinese espionage alarms Europe China is already well known for advanced cyber attacks. Now, its human intelligence, or “humint”, skills have acquired a level of sophistication usually associated with Russian espionage, according to eight current and former western intelligence officials, adding to the sense of alarm in the west.Tough economic times lie ahead If the planned tightening of monetary policy is likely to generate a recession in the US, what might happen in Europe? The answer is that the recessions there are likely to be deep, given that the energy price shock is so large, writes Martin Wolf. Has Covid-19 made us all sicker? There is already evidence to back up geriatrician Dr David Strain’s concerns that coronavirus has left people susceptible to other conditions ranging from strokes to heart failure. “This is something that we’re going to be facing in a really big way in the near future,” he said.If you have had Covid-19, have you since suffered from new health conditions? Tell us in our latest poll below.
Hopes for US-China audit deal A deal last week for US regulators to inspect Chinese companies’ audits could prevent about 200 groups from being kicked off American exchanges. US officials — as well as hundreds of Chinese companies and global investors that own about $1.4tn of their shares — are hoping that Beijing’s rare concession is for real. Actors worry that AI is taking centre stage A range of AI start-ups are developing tools for use in film and audio, from making actors look and sound younger to creating AI voices that can be used for marketing campaigns, consumer assistants or even audiobook narration.Leadership“A lot of leaders are not necessarily nice people,” says Jeffrey Pfeffer, professor of organisational behaviour at Stanford University. He tells Stefan Stern the stark truth about management and power, including his seven crucial rules for getting to the top.(Sign up for our Working It newsletter, and stay up to date on the post-pandemic trends shaking up workplaces worldwide.) More
That’s precisely why the Merge is a critical step to implementing a fully functional scaling solution. The confirmation of a transition to a proof-ofstake (PoS) consensus was the main driver for the rally toward $2,000 on Aug. 15.Continue Reading on Coin Telegraph More
The Binance CEO then explained that nothing is absolutely free, pointing to how the exchange can offer zero trading fees for Bitcoin (BTC) and Ether (ETH) pairs because of the adequate revenue generated from other trading pairs. He added that new projects that allow players to sign up for free can be high risk for early adopters.Continue Reading on Coin Telegraph More
(Reuters) – Chile’s central bank modified the norms that regulate the access and functioning of the formal foreign exchange market, it said in a statement Tuesday.The move comes after a public consultation and is “part of the modernization process” of the central bank’s exchange regulation, it said. More
Tether, the company behind the world’s largest stablecoin, has responded harshly to comments in an article published by The Wall Street Journal this week, in which the WSJ accuses the company of not doing real audits on its financial and accounting situation. The Tether Holdings Ltd. team accused the WSJ of misinforming the public and discrediting its work in front of its users through a press release published on its blog. “BDO, a very reputable and independent Top 5 audit firm, and is not a ‘Tether accounting firm,’ as erroneously written by the WSJ.” It further said that the Italian accounting firm “will continue to have unrestricted access to any relevant information to perform their work.” It added that “Tether will continue to share its attestations, despite continuous attempts by the media to disparage its reputation and that of top-ranking firms like BDO that are working with digital asset companies.”
On the FlipsideTether said that “rivals have allowed mainstream consumers to believe they are ‘safer’ because they have been ‘audited,’ but no such audit has occurred.” The statement also mentions that “any reference to a margin of failure existing in Tether’s business model assumes that the WSJ subscribes to the false short-seller narrative which suggests that short-selling Tether is even remotely possible.”
For some time now, Tether has exposed a conspiracy against it. In its response to the WSJ, the company also referred to the hedge funds that it accuses of creating pressure to “harm” the liquidity of the cryptocurrency. It said they represented “a fundamental misunderstanding of both the cryptocurrency market and Tether.” Finally, Tether highlighted having been able to “easily redeem over USD 16B of the issued token in recent months.” It says it has kept the asset allocation in line with previous months and significantly reduced its exposure to commercial paper.Why You Should CareTether plans to issue monthly financial reports starting next year, something its competitors are already doing, according to the WSJ article. “Things are moving slower than … we would like,” the WSJ article concludes, citing Paolo Ardoino, CTO of Tether Holdings Ltd.You might also like to read this other recent article related to the financial situation of the stablecoin:Tether (USDT) Reserves Fell $16 Billion in Q2Continue reading on DailyCoin More
According to Money Today and Chosun Ilbo, the firm, which is a unit of the LG conglomerate, will issue a new collection featuring its Moono octopus-like animated character. The collection is inspired by the success of the firm’s debut collection, which sold out in just 2 seconds after it was released on OpenSea, via the Kakao-founded Klaytn blockchain in May.The first release was a collection of Moono characters depicted to be enjoying each day of the week. It saw 200 tokens distributed.LGU+ stated that the upcoming collection would be much larger than the first. 1,000 NFTs will be issued. The collection will feature Moono office workers and their “changing emotions” over the course of the working week.The firm also revealed that all the KLAY tokens it receives from the sale would be donated to charity. It intends to withhold 100 of the new NFTs for “marketing purposes,” while the remaining 900 collectibles will be up for public acquisition during two sales to be held on September 5. The first sale will hold from 7 pm to 9 pm, where 300 NFTs will be sold, while the final 600 pieces will be sold from 10 pm to midnight.In addition, the telecom giant stated that clients who purchase up to five tokens would be able to claim tickets to the Legoland theme park, while those privileged to complete a set are eligible to claim a Moono toy.LGU+ also revealed that it intends to stretch its NFT-related operations in the coming months while giving hints at a potential partnership with Shy Ghost Squad and Animal Punks (the brains behind the popular Klaytn blockchain NFT collections).LGU+ is a member of the Klaytn governance council, alongside two other LG firms: LG Electronics and LG International. Rumors have been going around that LG, which has been piloting a number of crypto-related solutions for several years, could be planning a token launch of its own.Continue reading on BTC Peers More
