Texas
Bitcoin miner Core Scientific reportedly filing for Chapter 11 bankruptcy
Just days after a creditor offered to help Core Scientific avoid possible bankruptcy, reports have emerged confirming the Bitcoin (BTC) mining company’s fate. Core Scientific is reportedly filing for Chapter 11 bankruptcy protection in Texas owing to falling revenue and low BTC prices. On Dec. 14, financial services platform B. Riley offered to provide Core Scientific with $72 million in non-cash financing — $40 million with zero contingencies and $32 million with conditions — to retain value for stakeholders. The decision was made after Core’s valuation fell from $4.3 billion in July 2021 to $78 million at the time of reporting. As a direct result of an extended bear market, Core Scientific had to sell 9,618 BTC in April to stay operational. A CNBC report quoted a person familiar wit...
Florida best-prepared US state for widespread crypto adoption: Research
It’s not just pro-crypto regulations but also a supporting infrastructure that allows sustainable crypto adoption in any jurisdiction. Weighing in factors such as the number of Bitcoin (BTC) ATMs, blockchain companies and public interest in cryptocurrencies, Florida comes out as the most crypto-ready state in the United States. The U.S. hosts a network of 33,865 Bitcoin ATMs, representing 87.1% of total crypto ATM installations worldwide. In addition, the nation contributes to 37.8% of the global Bitcoin hash rate, which makes the US the most dominant player in crypto. However, a state-wise analysis reveals that not all 50 states are equally prepared for the inevitable mainstream crypto adoption. Research conducted by Invezz regarded Florida as the crypto capital of the US for its active e...
The 2023 Polaris Slingshot Lineup Invites Riders To Design The Ride Of Their Dreams
HipHopWired Featured Video The Polaris Slingshot is one of the most distinctive motorized vehicles on the market today, sparking curiosity and interest every time one zips through the streets. With the company rolling out its new 2023 lineup, Polaris Slingshot invites riders to dig deep into their artistic bags and design the ride of their dreams. First, I’d like to personally thank Polaris for having me and other members of the media and riding community out to test drive the Slingshot in November. As I told some of the Polaris team, I’ve wondered for years what the hoopla was all about as it relates to the Slingshot. On a reasonably warm day no matter the season, it is customary to see Slingshots zipping through the Washington Metropolitan area in droves. I’ll be frank here, I largely th...
The 2023 Polaris Slingshot Lineup Invites Riders To Design The Ride Of Their Dreams
HipHopWired Featured Video The Polaris Slingshot is one of the most distinctive motorized vehicles on the market today, sparking curiosity and interest every time one zips through the streets. With the company rolling out its new 2023 lineup, Polaris Slingshot invites riders to dig deep into their artistic bags and design the ride of their dreams. First, I’d like to personally thank Polaris for having me and other members of the media and riding community out to test drive the Slingshot in November. As I told some of the Polaris team, I’ve wondered for years what the hoopla was all about as it relates to the Slingshot. On a reasonably warm day no matter the season, it is customary to see Slingshots zipping through the Washington Metropolitan area in droves. I’ll be frank here, I largely th...
Bullish on Bitcoin, US Senator Ted Cruz wants Texas to be a crypto oasis
United States Senator Ted Cruz wants to make the American state of Texas an oasis for Bitcoin (BTC) and cryptocurrencies. Speaking at the Texas Blockchain Summit 2022 in late November, the politician empathized how the crypto industry can be strategic for the U.S. energy supply and technological development. Cruz argued that Bitcoin mining could be used to monetize energy created from oil and gas extraction, rather than burning it. In addition, he emphasized how mining activity can be used as an energy storage and supply alternative: “The beauty of it [Bitcoin mining] is when you’ve got substantial investment, as we do in Texas and Bitcoin mining, when you have an extreme weather event, either extreme heat, which is frequent in the state of Texas or extreme cold, whi...
FTX collapse could trigger ‘appetite’ for harsher regulation, says Andrew Yang
Calls for harsher regulations around cryptocurrencies and digital assets will likely grow louder in the aftermath of FTX’s collapse — something former United States presidential candidate Andrew Yang said isn’t conducive to making America a hotbed for blockchain innovation. Speaking at the Texas Blockchain Summit in Austin on Nov. 18, Yang acknowledged that the bankruptcy of FTX and sister company Alameda Research would make common sense crypto regulation harder to pass in the short term. “I’ve always been in the camp that some intelligent regulation is a good thing. I think it would help the industry mature and make it more mainstream. But, unfortunately, we missed a beat — like a major beat,” he said, referring to the collective failures of FTX, FTX US and Alameda Research. “...
Someone Snuck Into a Liquid Stranger Show Through the Venue’s Air Ducts
Liquidity is a superhuman power one person conjured while sneaking into a Liquid Stranger show in Houston, Texas. An unexpected guest apparently broke in through the ceilings of the venue, wriggling through the air ducts and into the men’s bathroom at Liquid Stranger’s recent show at Ayva. A video shared by a fan, which appears to be a screengab from Snapchat, is captioned: “Dude just snuck in through the ceiling.” It shows a young man stepping on the bathroom’s hand dryer and his other foot on the bathroom’s mirror. As the board from the ceiling falls on his back, he jumps on the sink and then onto the floor. The man did stay at the show, according to a number of responses on Twitter. Scroll to Continue Recommended Articles Liquid Stra...
Texas authorities object to Voyager’s disclosure statement in its current form
The Texas State Securities Board (SSB) and the Texas Department of Banking (DOB) raised an objection in court against Voyager Digital’s disclosure statement, questioning the various methodologies and calculations used to estimate the fair market value of the bankrupt exchange’s crypto assets. In a pleading filed with the United States Bankruptcy Court for the Southern District of New York, the attorneys for the SSB and DOB objected to the order approving the adequacy of Voyager’s amended disclosure statement. Voyager Digital filed for Chapter 11 bankruptcy in New York in July 2022, while proposing a recovery plan for investors. The Texas state authorities argued that Voyager’s disclosure statement, which asserted that creditors might get a 70% return, fails to explain the methodology used ...
‘Anything is possible’ — John McAfee’s former wife responds to faked death claims
The former wife of crypto evangelist and computer programmer John McAfee has responded to a claim made by his ex-girlfriend that he faked his death and was currently in hiding. John McAfee died in a Spanish prison cell in June 2021 while awaiting extradition to the United States on charges of failing to submit tax returns from 2014 to 2018 and not reporting income related to pushing crypto projects and consulting work. He was 75 years old when he passed, and many in and out of the crypto space quickly developed conspiracy theories around his detainment and death. In a Netflix documentary on McAfee’s life and death released on Wednesday titled Running with the Devil: The Wild World of John McAfee, ex-girlfriend named Samantha Herrera claimed to have received a phone call from the computer p...
United Texas Bank CEO wants to ‘limit the issuance of US dollar-backed stablecoins to banks’
Scott Beck, chief executive officer of United Texas Bank, called on members of the state’s blockchain working group to recommend policy for leaving stablecoins to banks rather than crypto firms. Speaking before the Texas Work Group on Blockchain Matters in Austin on Friday, Beck suggested limiting the issuance of U.S. dollar-backed stablecoins to licensed banks rather than issuers like Circle. The United Texas Bank CEO cited a November report from the President’s Working Group on Financial Markets, in which the group said stablecoin issuers should be held to the same standards as insured depository institutions including state and federally chartered banks. “If such stablecoins are defined to be ‘money’, banks are the proper economic actor to issue and manage stablecoins,” said Beck. “Bank...
‘There’s a lot less land to go around’ — why White Rock established off-the-grid mining in Texas
Amid many cryptocurrency mining firms in Texas scaling down operations to reduce the load on the power grid, at least one company set up miners not quite as affected by the state’s energy requirements during extreme heat. In June, White Rock Management expanded its crypto mining operations to Texas — its first in the United States — but reported its facility in the Brazos Valley region would mine Bitcoin (BTC) using “environmentally responsible” methods. While the firm’s mining operations in Sweden used hydroelectric power, White Rock CEO Andy Long told Cointelegraph that its Texas facility was “off grid”, powered only by natural gas that would otherwise be burned. “The U.S. is where the action is in terms of markets, so we plan to be in at least another couple of states as well as Texas w...
Core Scientific increased Bitcoin production by 10% in July amid Texas power cuts
Crypto mining firm Core Scientific reported its operations produced 1,221 Bitcoin (BTC) in July even as the company powered down several times in response to demand on the Texas power grid. In a Friday announcement, Core Scientific said its month-over-month Bitcoin production had increased from 1,106 in June to 1,221 in July — roughly 10.4%. The firm reported curtailing operations “due to extreme temperatures at multiple data centers,” but also increased the number of its self-mining servers and hashrate by 6%, to 109,000 and 10.9 exahashes per second (EH/s), respectively. JULY 2022 HIGHLIGHTS:-1,221 #Bitcoin self-mined-10.9 EH/s self-mined-+190,000 ASIC servers in operation-8.4 EH/s colocation (hosting)-Deployed first BITMAIN ANTMINER S19 XPs in the United Stateshttps://t.co/Qt2...
