Japan’s DMM Exiting Crypto Mining Business

Japan’s DMM Exiting Crypto Mining Business Japanese e-commerce giant DMM.com is reportedly exiting the cryptocurrency mining business due to “deteriorating profitability,” local media reported. This news follows an announcement by another major Japanese company, GMO Internet, that it will no longer manufacture and sell mining machines, citing similar reasons. Out of the Mining Business Japanese…

India: Media Reports Central Bank Has Postponed ‘Crypto-Rupee’ Plans

India: Media Reports Central Bank Has Postponed ‘Crypto-Rupee’ Plans The Reserve Bank of India (RBI) is pausing its plans to release a digital currency, Indian business news outlet the Hindu Business Line reported on Jan. 1. India’s central bank had originally announced its intentions to consider a central bank digital currency (CBDC) in April of this year, at the time noting the establishment…

Senator and Crypto Critic Elizabeth Warren Enters 2020 US Presidential Race

Senator and Crypto Critic Elizabeth Warren Enters 2020 US Presidential Race United States Senator and cryptocurrency critic Elizabeth Warren has announced her bid for President in 2020, the New York Times reported on Dec. 31. Following her announcement, Sen. Warren made plans to visit the state of Iowa, which hosts the first presidential caucuses in the country…

Abkhazia Temporarily Shuts Down 15 Mining Farms

Abkhazia Temporarily Shuts Down 15 Mining Farms Authorities in Abkhazia have cut off 15 mining facilities from the territory’s electrical grid. The short-term measure is meant to alleviate power shortages during the cold winter months. The operators of the farms have fully cooperated with the local electric utility. 8,950 kWt of Mining Hardware Unplugged Chernomorenergo,…

How Institutional Investors Are Changing the Cryptocurrency Market

How Institutional Investors Are Changing the Cryptocurrency Market Institutional investors trading cryptocurrency gained ground in 2018, with a number of high profile players edging in and taking a seat at the table. Increased interest from larger investors may have played a part in supporting digital assets as well as distorting the market.  Will Crypto Markets Turn…

Crypto ‘Largely Usable Only by Developers’ Wall Street Journal Says

Crypto ‘Largely Usable Only by Developers’ Wall Street Journal Says “Few tangible uses for Bitcoin (BTC) and its underlying blockchain technology have emerged,” according to a Wall Street Journal (WSJ) article published Jan. 1. According to WSJ, in 2017 actual crypto development “took a back seat to getting rich.” The article also states that “at the beginning of 2018, the question…

Fred Wilson: Crypto No Safe Haven in 2019, Investors More Wary of Startup Sector

Fred Wilson: Crypto No Safe Haven in 2019, Investors More Wary of Startup Sector Venture capital investor Fred Wilson suggested that cryptocurrency will not be a safe haven in 2019 amid a “weakening” economy, according to a blog post published Jan. 1. Wilson is an American venture capitalist and businessman, who has reportedly backed such companies as Twitter, Tumblr, Zynga, and Etsy.…

Fortnite Merchandise Store Starts ’Exclusively’ Accepting Monero as Payment Method

Fortnite Merchandise Store Starts ’Exclusively’ Accepting Monero as Payment Method Retail Row, the merchandise store for the online video game Fortnite, has started “exclusively” accepting Monero (XMR) as a cryptocurrency payment option, Monero tweeted Jan. 1. Fortnite is an online video game released in July 2017 and developed by Epic Games, which reportedly accounts for more than 125 million…