CoinQue Chronicles
Crypto Market News At a Glance:
Weekly round-up of the most exciting pieces of news from the ??cryptocurrency??, ??blockchain??, and ??Web 3.0?? space ??
Winklevoss Twins’ Crypto Exchange Gemini To Seek UAE Crypto License
The Winklevoss-owned crypto exchange Gemini has announced that it has begun the process of acquiring a crypto service license for customers in the United Arab Emirates (UAE).? Gemini cited increased enthusiasm for cryptocurrencies among citizens and positive conversations with regulators of the UAE as the reason for pursuing the license. Read more
Tether Stablecoin Issuer Taps Uruguay for Bitcoin Mining Using Renewable Energy
Tether, the issuer of the world’s most traded stablecoin, will invest in power generation and Bitcoin mining operations in Uruguay to tap the country’s renewable energy resources. Tether has also set up a separate recruitment portal for its cryptocurrency mining workforce. Read more
Bitcoin Miners Face Trouble as BTC Price Plunges Further
Bitcoin mining difficulty has reached a new all-time high, making mining more costly and less rewarding. Miners are facing increasing competition and are holding onto more BTC than they sell. The price outlook for Bitcoin remains bleak, with some analysts expecting further downside before a recovery. Read more
Payments Giant PayPal Invests in New Crypto Wallet Software in Push for Web3 Adoption
Payments giant PayPal is investing millions into San Francisco-based crypto wallet company Magic in its latest venture into the digital assets space. Magic, a 2018 tech startup, provides non-custodial crypto wallet infrastructure for companies that wish to give their customers an easy and secure Web3 experience. Read more
MakerDAO Is The Most Expensive DeFi Protocol To Run, Requires Millions
MakerDAO, a decentralized money market on Ethereum for users to borrow and lend assets, including ETH, spends $27.66 million annually to keep the protocol running, DeFiLlama data shows. This sum of money is utilized to cover expenses such as taking care of the 97 individuals responsible for maintaining the lending and borrowing protocol. Read more
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