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Amdax Guide
Ordinals and inscriptions: NFTs on bitcoin
It has been restless in the bitcoin world in recent weeks. Not because of the price differences, but because of the introduction of digital objects on the bitcoin network such as images, moving images, and audio files. This is made possible by a new protocol, which the terms ordinals and inscriptions refer to.
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Is bitcoin bad for the environment, or is it not?
Mining bitcoin requires computing power, so bitcoin consumes energy. Therefore, is bitcoin harmful to the environment? Some argue it is. Is that justified? Even though bitcoin consumes a lot of energy, it is also an exceptional electricity consumer.
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Processing power on bitcoin network reaches record highs
The processing power on the bitcoin network is higher than it’s ever been, which has led the difficulty of mining bitcoin to be increased by 14%.
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3 ways to securely store your crypto assets
You probably haven’t missed the downfall of crypto exchange FTX. At least one billion dollars of customer deposits have “vanished”, which has significantly damaged the crypto sector’s reputation.
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What happens next after The Merge?
Last Thursday, the long-awaited Merge was finally implemented. With this update, Ethereum has transitioned from the Proof of Work (PoW) consensus algorithm to Proof of Stake (PoS).
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US researching crypto regulation
Last March, President Joe Biden called on multiple government agencies to research the role of crypto assets in the American financial system with an executive order. An often discussed point is the energy usage of this sector. The Office of Science and Technology Policy (OSTP) is one of the agencies that is conducting this research, and they shared their first results last week.
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Dutch Ministry of Finance starts “Smart in Crypto” campaign
Last Monday, the Dutch Ministry of Finance launched the “Smart in Crypto” marketing campaign. The website and social media videos warn against high expectations and pitfalls when investing in crypto assets.
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Institutional parties researching possibilities in crypto-friendly South Korea
ast week held some positive crypto-related announcements from South Korea. Seven large South Korean companies, among which Samsung and Mirae Asset Securities, are working on launching their own crypto asset exchange. The five other companies weren’t named explicitly in the reporting from local news source NewsPim.
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Metaverse shines during MTV Video Music Awards
The theme “Metaverse” kept popping up during the recent yearly Video Music Awards (VMAs), hosted by television broadcaster MTV. This term refers to the internet as a digital space where 3D worlds are created to connect people, often using virtual or augmented reality (VR and AR). This year marked the first time a prize was issued for the “Best Metaverse Performance” category. The South Korean girl band Blackpink won the prize, and beat out superstars like Justin Bieber and Ariana Grande.
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Metaverse shines during MTV Video Music Awards
The theme “Metaverse” kept popping up during the recent yearly Video Music Awards (VMAs), hosted by television broadcaster MTV. This term refers to the internet as a digital space where 3D worlds are created to connect people, often using virtual or augmented reality (VR and AR). This year marked the first time a prize was issued for the “Best Metaverse Performance” category. The South Korean girl band Blackpink won the prize, and beat out superstars like Justin Bieber and Ariana Grande.
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Built With Bitcoin Foundation improves the world with bitcoin
Despite the tumultuous times on the crypto markets, plenty of good things are still happening behind the scenes. A prime example of this is the non-profit organisation Built With Bitcoin. They are offering small communities in developing countries access to education, clean drinking water, amenities and healthy food, all with the help of bitcoin. The global character of bitcoin makes it suitable to easily send and receive donations from around the world.
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Blackrock launches BTC trust fund for institutional investors
BlackRock, the world’s largest asset manager, launched a bitcoin trust fund last week. This brand new investment vehicle offers direct exposure to bitcoins spot price, and caters specifically to institutional investors. BlackRock states in the announcement that there’s significant demand for digital assets, despite the recent downturn in the cryptomarket.
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BlackRock expands cryptoservices via Coinbase
BlackRock, the world’s largest asset manager, is working together with Coinbase. Aladdin, BlackRock’s investment platform, will now allow over 200 institutional parties to buy crypto assets via Coinbase Prime, an advanced crypto platform aimed at corporations. This will be the first time that such easy access to the crypto market is offered to institutional parties like pension funds, asset managers and banks.
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Tesla sells part of bitcoin position to improve liquidity
Tesla was the center of attention when it bought 1.5 billion dollars of bitcoin last year. One year after the purchase, CEO Elon Musk announced that the company had sold 75% of its bitcoin position, valued at 936 million dollars. In the quarterly investors call, Musk cited the COVID-lockdowns in Chine as the main reason for the sale. Tesla found itself forced to increase its cash positions after the closing of a factory in Shanghai and uncertainty around further lockdowns.
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American government bans crypto mixing service Tornado Cash
The crypto mixing service Tornado Cash has been blacklisted by the American government. Using a mixing service, users can hide the source or destination of cryptocurrencies. The government has banned US residents from interacting with the protocol, citing the reason that it was used at scale to launder money.
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AMDAX to provide staking and OTC trading for Concordium
We are proud to announce our partnership with Concordium. AMDAX will be offering a staking solution on Concordium’s blockchain to further enhance its ecosystem. AMDAX also is Concordium’s preferred partner for over-the-counter (OTC) trading.
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