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Bitcoin (BTC) trading for its 34 million individual customers?

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Bitcoin (BTC) trading for its 34 million individual customers?

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Fidelity Investments plans to offer Bitcoin trading to its 34.4 million brokerage customers. According to a article of the Wall Street Journal, Fidelity is set to expand its crypto offerings after being one of the first mainstream financial companies to truly support digital currency and blockchain technology.

Fidelitywhich manages around $4 trillion in assets, has had a bitcoin trading business for hedge funds and other institutional investors since 2018 and mine bitcoins since 2015.

A priority sector for Fidelity

Earlier this year, Fidelity allowed corporate clients to add Bitcoin to their 401(k) retirement plans. Some retail customer accounts have a direct link to Coinbase and Fidelity has also opened a crypto fund for wealthy clients.

During a speech at the SALT conference earlier this week, the CEO of Galaxy Holdings Mike Novogratz said, “A little bird whispered in my ear that Fidelity could switch its retail customers to crypto pretty quickly.

“I hope that bird is right. And so, we are seeing the beginnings of this institutional march.”

Fidelity rivals have used access to digital assets and crypto as a key selling point for new and young investors. The company has yet to share details with customers, but in a statement to The Block on the subject, hinted that the decision was made.

“While we have nothing new to announce, expanding our offerings to enable broader access to digital assets remains a priority,” it read.

Fidelity under federal supervision?

However, while the news is welcomed in the crypto space, it might not be at the federal level in the United States.

the US Department of Labor previously said he had “serious concerns” about Fidelity’s decision toinvest in bitcoin for 401(k), while a handful of US senators have also expressed concerns.

“Investing in cryptocurrencies is risky and speculative betting, and we are concerned that Fidelity is taking those risks with the retirement savings of millions of Americans,” the Democratic senators wrote. Elizabeth Warren (Massachusetts) and Tina Smith (Minnesota) in a letter to the CEO of Fidelity, Abigail Johnson.

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Crypto Crashes as US Inflation Worse Than Expected

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Crypto Crashes as US Inflation Worse Than Expected

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The consumer price index in the United States has just been published. The CPI indicates a change of 8.3% year-on-year and 0.1% month-on-month. These are not the numbers the crypto market was hoping for. The estimated CPI was expected at 8.1% YoY and -0.1% YoY. A bad CPI is not good news for the cryptocurrency market.

Following the CPI data, Bitcoin and Ethereum prices are falling. Both BTC and ETH fell nearly 6% within minutes. Core CPI figures are also worse than expected. Core CPI shows a 6.3% year-on-year increase, instead of the expected 6.1%.

Why is CPI data important for cryptocurrencies?

The consumer price index is an important measure of inflation. The Federal Reserve takes this data into account when deciding its Monetary Policy. The Fed takes an aggressively bellicose stance to reduce inflation levels. Fed Chairman, Jerome Powellvowed to hurt households and businesses when the Fed clamps down on inflation.

Favorable CPI data could have helped moderate the Fed’s attitude. However, due to worse than expected data, the Fed will most likely continue to adopt an aggressive stance. The CME tool Fed Watch reveals that the Fed will almost certainly increase interest rates by 75 basis points. High interest rates due to the CPI are not good news for the cryptocurrency market. A rising interest rates larger than usual in June led to a crypto bloodbath.

More importantly, there will likely be no reprieve for the markets after September. The Treasury Secretary, Janet Yellen, estimates that inflation prices will rise in winter due to a shortage of gas in Europe. Additionally, Cleveland Fed President Loretta Mester revealed that multiple increases interest rates are likely.

Can Merger Save the Crypto?

The merger ofEthereum is an extremely bullish event for the crypto. Investors are hoping for a successful merger, as it may help rally the plummeting price. However, many cryptocurrency traders bet against a merger successful.

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Ubisoft formalizes Project Q, its PvP arena game (and without NFT) | XboxOne

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Ubisoft formalizes Project Q, its PvP arena game (and without NFT) | XboxOne

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Leaks regarding Ubisoft games have been intensifying for the past few months. After one list of games in march then Pathfinder in April is Project Q which leaked this week as well as Assassins Creed Nexus (VR). Today, Ubisoft has decided to formalize Project Q.

Project Q is an arena game

Rather than waiting for the rumor to continue to spread with all the questions that follow, Ubisoft has therefore taken the lead by announcing its game a little in advance. Its code name is “Project Q” and it is, as expected, a team game that is played in an arena.

The game is in early development and we will continue to test, so for now all you can do is sign up for upcoming tests: https://register.ubisoft.com/projectq-signup/en-GB

We won’t know much more for the moment but Ubisoft still wants to clarify that this is not a Battle Royale and that a variety of PvP modes will be offered with a single objective: fun.

The rumor that we mentioned yesterday reported a development provided by Ubisoft Bordeaux with two modes, one of which is similar to a Battle Royale. It was then a question, as in Overwatch, of choosing a hero from a panel of characters with different characteristics and skills. For the moment, everything suggests that the game will be free and we will continue to follow this closely.

In a gameplay video that Xboxygen was able to consult, Project Q looks like a very colorful third-person shooter with various weapons (hammer, fireworks launcher, etc.) and objects specials such as wings that allow you to glide.

Last info, the publisher claims to have no plan to date to integrate NFTs into Project Q. This precision may seem trivial, but it shows the damage caused by the subject on the perception of the brand with the public. Last January, Ubisoft said that the negative reaction of players to the arrival of NFT in Ghost Recon was expectedbut that the company was going to continue integrating NFT into its games.

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“Sometimes it works, sometimes it doesn’t”: Ubisoft calms its enthusiasm for NFTs

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“Sometimes it works, sometimes it doesn’t”: Ubisoft calms its enthusiasm for NFTs

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In a speech that looks like a huge backpedal, the CEO of Ubisoft made it clear that the NFTs launched by the company would ultimately have been thought of only for research purposes. A nice pirouette when you remember the outcry caused.

Yves Guillemot, CEO of Ubisoft, talked about the NFT in less enthusiastic terms than last time. It must be said that this is a controversial market, on which his company launched at the end of last year with a huge outcry — even internally where the initiative had been deemed disastrous.

In an interview given to GamesIndustry on September 10, he explained that the famous “Quartz” attached to the video game Ghost Recon Breakpoint, would have been developed only to explore possibilities of evolution of the video game. ” Exploring does not mean throwing “, he says. “ We weren’t very good in the way we explained that we were doing research (…) We should have said that we were working on the subject, and that when we have something that will bring you a real benefit, we will bring it to you. »

It must be said that at the time, however, it was indeed possible to buy Ubisoft’s “Quartz” (NFTs) with cryptocurrency. What was saying the original press release, dated December 7, 2021? that Ubisoft launched ” the first platform of eco-responsible NFTs playable in triple A games “. She was both a new experiment ” and ” the first step (…) for the development of a true metaverse “.

Nicolas Pouard, vice-president of the Strategic Innovations Lab department, had even assured, not without a touch of condescension, that gamers just didn’t fully understand what NFTs were and their potential: I think players don’t yet understand what such a market can bring them. At the moment, due to the context surrounding NFTs, players first think they are destroying the environment, since they are just for speculation. But, within Ubisoft, we see much further. “Words that already seem very far away…

The first NFTs of the video game Ghost Recon Breakpoint
The first NFTs of the Ghost Recon Breakpoint video game // Source: Screenshot

Ubisoft regrets NFTs

Yves Guillemot justifies the gesture by Ubisoft’s ability to get started very quickly in new technologies – a sometimes laudable intention, it is true. ” We got into VR and Wii very early on. [motion gaming] — we are always trying new things. Sometimes it works. Sometimes not (…). The goal of a company is always to create the best possible experience and new technologies help because there is less competition and people are more interested “, he says. Ubisoft was therefore afraid of missing the bandwagon, but de facto contributed to strengthening the craze for a very controversial product.

Beyond the ecological argument, on which Ubisoft wanted to be as reassuring as possible with the eco-responsible Tezos blockchain (2.5g of Co² per transaction), its Quartz had never been convinced of the real benefit for the players.

Officially, the CEO does not totally bury the NFTs: ” It’s a rapidly changing industry and it’s very cautious about its impacts. Like many things, in its early stages, it’s imperfect, but like other technologies, they’ll manage to find the right path. ” To be continued.

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Bitcoin (BTC) miners take the bear by the tail!

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Bitcoin (BTC) miners take the bear by the tail!

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Tue 13 Sep 2022 ▪ 2:00 p.m. ▪
5
min read – by
Mikaia ANDRIAMAHAZOARIMANANA

Despite the deep crisis that cryptocurrencies are currently going through, innovative ideas are emerging. Lately we have seen the development of new blockchain games, NFT and metaverse concepts, crypto credit cards, and more. On the side of bitcoin miners, the bear market pushed them to intensify their activities.

Bitcoin (BTC) miners are taking the bear market by the tail!

Mining of bitcoins: Cleanspark, Arsenal Digital Holdings and Terawulf press the mushroom

The progress of mining of bitcoins on a background of bear market amazes observers. Recently, 3 major players in the sector have announced remarkable progress in their cryptocurrency mining activities.

Cleanspark (CLSK)

Last Friday, Coindesk announced the acquisition by CleanSpark of a ” turnkey bitcoin mining facility owned by Mawson Infrastructure Group. The said facility comprises 6,468 bitcoin mining rigs, with a total capacity of 80 MW and capable of supporting 2.4 Exahash per second.

CleanSpark had to pay the sum of 42.5 million dollars for the purchase of this device located in Sandersville (Georgia).

As a reminder, CleanSpark already signed a check for $28 million a few days earlier. This sum allowed him to buy 10,000 new Bitmain Antimner S19j Pros. In addition, last August, the company paid for an installation of bitcoin mining, Georgia, a property of Waha Technologies. The price of this acquisition amounts to 25 million dollars.

It is estimated that CleanSpark’s hash rate could reach 5.2 PE/s by the end of 2022. This is significantly higher than its initial predictions.

Arsenal Digital Holdings (OTCMKTS:ADHI)

Last Friday, bitcoin.com also explained that Arsenal Digital Holdings offered itself a ” 50-acre (20-hectare) operational data center campus including a 4-story office building in Westland, near Houston. Dan Swinhoe, author of a report concerning this operation, had also mentioned the existence of an additional space of 100,000 m² on the site, as well as a bunker built in 1982. According to him, Louis Kung, founder of Westland Oil, had built it with a view to of ” protect 350 adults for up to 3 months. »

Happy with this new acquisition, Ryan Messer, CEO of Arsenal, commented:

” Data centers are among the most coveted assets in the digital infrastructure industry, and we are proud to make this acquisition a founding asset for the company, as it will be a true flagship site. »

To say that this old oil bunker, transformed into a data center in 2008, had not found a buyer since it was put up for sale in 2021. Is this linked to its exorbitant price of 39 million dollars? Note that the site in question can accommodate a capacity of 15 megawatts, according to Swinhoe.

Terawulf (WULF)

That same Friday, Paul Prager, CEO of Terawulfalso announced that the site of mining Lake Mariner bitcoin is now live. It offers a capacity of 30 MW and can withstand up to 1EH/s.

According to Prager, 10,000 bitcoin mining devices are already installed there.

” WULF’s infrastructure is second to none, and our electricity prices are stable and low. We will bring them home. », he added.

This progression does not date from one or more months, but from a few days only. Because if we take into account the statistics for the month of August, this list will be extended again and again. Didn’t we learn that at this time Applied Blockchain and Validus Power had extended their activities to mining bitcoins? All this allows us to say that, bear market or not, players in the crypto world still want to move forward. Another important point: bitcoin miners seem more and more aware environmental issues. Enough to establish a good image for the sector.

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Mikaia ANDRIAMAHAZOARIMANANA avatar
Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy of this World, against all hope, I will say that I had something to do with it



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