Cryptocurrency2 hours ago (Jul 02, 2021 11:30AM ET)
Crypto Flipsider News – July 2nd – Strike, Binance on Cayman Islands, San Marino, Internet Code Mistake
Hello crypto people,
While everyone is counting hours till the official weekend, crypto space comes with a full range of news. Speaking in terms of movies, news pieces vary from war action to romantic dramas, science and geeky documentaries. Pick the best ones for you.
On today’s list:
- The Cayman Islands monetary authority takes pressure on Binance
- Green energy usage for BTC mining reached 56%, says Mining Council
- Payment giant Strike throws down the glove to Coinbase
- San Marino approves NFT vaccination on VeChain
- Mistake spotted on internet source code NFT sold on Sotheby’s before
The Cayman Islands Takes Pressure on Binance
The Cayman Islands Monetary Authority (CIMA) initiated an investigation on Binance crypto exchange claiming that Binance is not “registered, licensed, regulated or otherwise authorized” to operate in the territory.
The Cayman Islands is the latest jurisdiction to put pressure on the crypto exchange. The UK and Japan did the same days ago, Binance also moved out from Canadian province Ontario regarding the unauthorized operation issues.
- One of the world’s biggest tax havens is quitting with Binance. Problems in paradise? Infidelity? The lack of commitment? Maybe the money? The rumors had it, Caymans was the real home of Binance headquarters. We’re worried about who will become its new comforter after divorce?
Green Energy Usage for BTC Mining Reached 56%, Says Bitcoin Mining Council
Bitcoin mining is rapidly becoming more efficient and is powered by a higher mix of sustainable energy than any major country or industry. Sustainable energy usage for BTC mining reached 56% in 2021 Q2. This is what Bitcoin Mining Council says in its first global Bitcoin mining report.
The newly-formed organization aims to promote Bitcoin mining based on renewable energy. Its board member Michael Saylor says this makes Bitcoin one of the cleanest industries in the world.
- BMC says it questioned bitcoin miners around the world but does not reveal the exact number.
- How could their data be truthful when China, one of the world’s biggest BTC hashrate producers, cracked down its Bitcoin miners at the end of the same Q2 2021? We know, Michael Saylor & Co, that you’re very much NOT delusional. But please, do not consider us total fools too.
Payment Giant Strike Throws Down the Glove to Coinbase, Venmo & PayPal
Payment platform Strike is challenging the big crypto industry players. The popular payment app will allow American users to trade Bitcoin with almost no fees. The Strike will apply a 0.3% fee for crypto buying and selling.
Strike’s CEO Jack Maller says the app will be the world’s cheapest place to buy Bitcoin. It will directly target big crypto exchanges like Coinbase, who “have built their businesses around charging retail a hefty fee to acquire bitcoin”. Maller explained Coinbase accounted for $771M profit last year, 94% of which came from its “asinine” close to 3% trading fees.
He also targets Venmo, Square’s Cash App and PayPal for high trading fees in his post.
- Crypto space is longing for heroes brave enough to open fire on multiple fronts. With all those 650 American financial service providers coming up for Bitcoin, Strike will definitely enter the minefield of competition. Let’s hope hunger games will not turn into a zombie apocalypse.
San Marino Approves NFT Vaccination on Vechain
The Republic of San Marino approved the law allowing the issuance of a Digital Covid Certificate that covers vaccination, past infection and negative test results. The small state surrounded by Northern Italy partnered with VeChain to issue the Certificate using NFTs on VeChainThor public blockchain.
VeChain positions itself as a blockchain whose value derives from solving the real world’s problems, especially the ones related to supply chains and logistics.
- As far as we remember, there have not yet been any records on Green Pass counterfeits. But you never know what anti-vaxxers are up to
$5.4m Worth Internet Code NFT Sold With a Coding Error
The famous internet source code NFT, which was recently sold for $5.4 million on Sotheby’s, may hold a coding error. The NFT files included an animated video of the code being written, a graphical representation of the code, an autograph of the creator Tim Berners-Lee and a digital letter, where he described the process of code creation.
The vigilant user noticed that the angle brackets “” of the original code were translated into HTML language as “”. This mistake most probably occurred during the video-making process and is not stamped in the original internet source code.
- Post-stamp collectors could tell: artifacts with mistakes are even more worthy rarities. Whoever made a code conversion mistake, may have done a favor for the NFT buyer, who now owns an even more unique piece of internet history.
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