Paraguay Opposes Bill on Crypto Mining
The country’s lower court rejected a legislation Tuesday that would have limited how much the grid operator could charge bitcoin miners for electricity, dealing a blow to Paraguay’s booming cryptocurrency mining sector.
Thanks to the Itaipu dam, one of the biggest in the globe, the South American country has some of the lowest energy prices in the entire world. Local and foreign businesses have established bitcoin (BTC) miners in the nation because to the relatively low cost of power.
The bill, which has been in the works since July, was defeated on Monday after receiving only 36 of the 41 votes required to pass.
Goldman Sachs will heavily invest in cryptocurrency
After FTX’s demise, Goldman Sachs might provide the cryptocurrency market with a lifeline. The investment bank announced in a statement that it will invest tens of millions of dollars in cryptocurrency companies whose valuations have suffered as a result of the collapse of FTX.
According to Mathew McDermott, head of digital assets at Goldman, “we definitely see some really fascinating opportunities, priced much more fairly.”
Release of NFT by Scottie Pippin
Scottie Pippin, a six-time NBA champion, is introducing a line of NFT sneakers.
For the release, Pippin is working with Web3 entertainment company Orange Comet.
Only 1,000 pairs of the SP33 Collection of Pippen Sneaker NFTs, a part of Orange Comet’s new “Crrupted” series, will be available when the collection debuts on OpenSea on Tuesday, Dec. 20.
The sneakers will include 3D animations and will be metaverse-compatible for the majority of avatars in the virtual world, drawing inspiration from the looks Pippin worn throughout his career.
Wallet Axes 4 Tokens on Coin base
Due to low usage, Coinbase Wallet no longer supports BCH, ETC, XLM, and XRP tokens.
On Monday, Coinbase stopped issuing the tokens, but any money that remains will still be linked to users’ existing addresses.
According to a Nov. 29 release by Coinbase Wallet, “This does not mean your holdings will be lost.” Any assets you possess that are not supported will nevertheless be linked to your address(es) and reachable using your Coinbase Wallet recovery phrase.
On Coinbase, the Wallet’s cryptocurrency exchange platform, the tokens will continue to be accessible.
