JPMorgan Chase CEO Jamie Dimon told U.S. senators in a congressional hearing that he would close down crypto if he were the government. Emphasizing that he has always been “deeply opposed” to crypto and bitcoin, the executive stressed that the true use case of crypto is criminals, drug traffickers, money laundering, and tax avoidance. Jamie […]
Global investment bank JPMorgan has noted that SEC approval of a spot bitcoin exchange-traded fund (ETF) could “put severe downward pressure on bitcoin prices.” Conversely, Standard Chartered Bank sees “price upside” related to such an approval from the United States Securities and Exchange Commission. In other news, a solo bitcoin miner has snagged a block […]
In the past six months, Bitcoin miners’ revenue has dropped by more than 30%, with November revenues approximately $ 270 million lower than October revenues. The drop in Bitcoin miners’ revenue is attributed to Bitcoin price volatility, increased competition, and higher electricity prices. Gradual Decline in Miner Revenue Bitcoin miners’ revenues have fallen by …
Canaan Inc, the crypto miner and mining rig producer, said the company’s overall revenue in Q3 stood at $ 33.3 million or some $ 40 million lower than the Q2 revenue. According to the company’s CEO, stagnant bitcoin prices and rate hikes by the U.S. Federal Reserve were some of the key factors …
The crypto economy has dropped more than 2% on Monday morning as equity futures show U.S. stocks may slip a hair on Monday following a four-week winning streak. Bitcoin has slid 2% over the past 24 hours against the U.S. dollar and it’s dropped 3.4% since the high of $ 38,437 recorded on November …