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The state of Wyoming is taking umbrage at the Federal Reserve Board’s insinuations that its regulatory framework for special purpose depository institutions (SPDIs) – state-chartered banks that can handle digital assets – are not up to snuff.

Bitcoin’s massive price surge this year has put the premier cryptocurrency in a position it’s not seen in almost two years. 

The cryptocurrency’s dominance, which refers to the market capitalization of bitcoin relative to the total market capitalization of all crypto assets, reached 45%. That’s the highest level since May 2021.

The ratio has climbed from 38% at the beginning of January as the price of bitcoin itself has skyrocketed 82%, according to Binance data via TradingView. 

The increase is unusual as dominance typically ticks higher when other crypto prices decrease. The countercyclical move comes amid regulatory uncertainty and banking stress in the U.S. and Europe. The collapse of several U.S. banks in March led to the de-pegging of Circle’s USDC stablecoin.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

FTX and collapses like Signature, Silvergate and Silicon Valley Bank show need for stronger consumer protection, governance norms, the International Monetary Fund said in its Global Financial Stability Report

Users can stake ada tokens directly from Lace to contribute to the security of the Cardano network and receive rewards for their participation.

RSS3 recently unveiled RSS3 AIOP, an AI training environment providing Web3 information to the likes of ChatGPT.

Investors in the two strategic rounds included Jump Crypto, Distributed Global and Multicoin Capital.

Bitcoin mining company CleanSpark spent $145 million on 45,000 Bitcoin mining machines, planning to double its mining capacity by the end of the year.

All of the mining units are Antminer S19 XPs, which CleanSpark CEO Zach Bradford claims are the most efficient miners available on the market.

“This bear market has continued to provide us with opportunities to maximize ROI [return on investment] including the opportunity to purchase the industry’s best miner at an industry leading price,” said Bradford in a press release.

The manufacturer will aim to deliver 25,000 machines in August, with the rest arriving in September.

The machines will add 6.3 exahashes per second (EH/s) of computing power to the company’s current 6.7 EH/s of hash rate — a 95% increase. 

This follows a recent purchase of 20,000 mining machines in February. These machines are in the process of being delivered and will add 2.44 EH/s of hash rate when they are activated later this year.

CleanSpark claims it mines more than 90% of its bitcoin with low-carbon energy sources.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Founder and CEO Matthew Sedigh says trading volumes have surpassed $200 million since Xclaim started operations in 2018.

The venture capital giant sees bear markets as a time for builders, particularly blockchain infrastructure projects.