• Marathon Digital is initiating a $406 million joint venture with FS Innovation to build and run bitcoin mining operations in Abu Dhabi.
• The project’s first phase will be activated with two digital asset mining sites comprising 250 MW. Marathon Digital will own a 20% stake in the company, while FS Innovation will hold an 80% stake.
• Marathon Digital chief executive officer Fred Thiel recently disclosed that the company has made significant progress in increasing its hash rate and getting its energy from a more sustainable source.

Marathon Digital, a crypto mining company, has announced their plan to launch a joint venture with FS Innovation in Abu Dhabi. This venture, worth $406 million, will involve the construction and operation of two digital asset mining sites, each boasting 250 megawatts of power. Marathon Digital will own a 20% stake in the project, while FS Innovation will hold the remaining 80%.

Marathon Digital has a track record of running their operations on leased facilities and contracts with hosting providers. After offsetting accrued debts, the company closed their balance sheet with $104 million in 2022. The crypto winter, as well as high energy costs, has caused many crypto mining firms to close their doors. However, Marathon Digital CEO Fred Thiel believes that the company has the potential to become the largest crypto mining company in the world. To achieve this, the company has made significant progress in increasing their hash rate and sourcing energy from a more sustainable source. They are aiming to have 23 exahashes of capacity by the second quarter of 2023.

Abu Dhabi, the capital of Dubai, is fast becoming a hub for crypto-centric entities due to its favorable regulations and energy infrastructure. In November of 2022, Swiss-based digital bank Sygnum received approval from the Abu Dhabi Global Market’s Financial Services Regulatory Authority to operate in the area. This was followed by a similar approval from the FSRA for Marathon Digital and FS Innovation to launch their joint venture.

Marathon Digital and FS Innovation have high hopes for this project. They believe that it will not only benefit their own operations, but also the crypto community and economy in Abu Dhabi as a whole. This joint venture is an exciting step forward in the world of cryptocurrency mining, and will hopefully help provide a more sustainable and secure future for the industry.

• BudBlockz is a crypto project running on the Ethereum blockchain that seeks to enhance operations in the cannabis markets.
• Its primary goal is to enable easy, global access to the cannabis market in a secure and decentralized way.
• BudBlockz is looking to onboard over one billion users to the web3 space by 2025.

The cannabis industry is one of the fastest-growing sectors in the world, with sales estimated to hit $73.6 billion by 2027. To cater to the increasing demand, BudBlockz (BLUNT) has emerged as a revolutionary crypto project to enhance operations in the sector. BudBlockz is a decentralized e-commerce platform that enables cannabis users to buy high-quality products using its utility token, BLUNT.

The project has been designed to provide easy, global access to the cannabis market in a secure and decentralized way. Through the platform, cannabis companies, consumers, and other stakeholders can securely and transparently transact and exchange value. This will not only make the cannabis industry more efficient but also increase its global reach.

The BLUNT token, which is an ERC-20 token, is utilized as a means of exchange between cannabis companies and consumers. The utility token finalizes transactions at dispensaries, farms, factories, and other cannabis-related businesses. The total number of BLUNT that will enter circulation is limited to 420m.

Apart from providing a secure and transparent platform for cannabis-related transactions, BudBlockz is also looking to onboard over one billion users to the web3 space by 2025. This will be a major milestone in the blockchain space and will open up new opportunities for users.

The BudBlockz team is confident that the platform will revolutionize the cannabis industry. With the project, cannabis users will be able to access a wide range of products in a safe and secure environment. The team is leveraging the latest technology to ensure that the platform is efficient and user-friendly.

Overall, BudBlockz is the latest innovation in the blockchain space that has the potential to revolutionize the cannabis industry. The project is looking to onboard over one billion users to the web3 space by 2025, and is set to be a major milestone in the blockchain sector.

• A scammer returned all of the monies stolen from an XRP holder after the victim pleaded for the funds to be returned.
• The scammer set up a fake Ledger Live website, which tricked victims into downloading malware that allowed the attacker to take full control of their stored coins.
• A 59-year-old XRP holder, who had been accumulating the currency for the past six years, was one of the victims who had over 75k XRP stolen.

Last week, a scammer returned all of the monies stolen from an XRP holder after the victim pleaded for the funds to be returned. This incident sparked some hope in the crypto community, as it showed that criminals can be swayed by emotional pleas.

The scammer had set up a fake Ledger Live website, which tricked victims into downloading malware that allowed the attacker to take full control of their stored coins. Ledger Live is an interface for users to explore the web3 and buy cryptocurrencies, grow assets, and manage NFTs. Unfortunately, several crypto and XRP holders fell for the trap and unknowingly gave away their hard-earned funds.

One of the victims, a 59-year-old single mother, had over 75k XRP she had been accumulating for the past six years. The woman wrote a heartfelt plea to the scammer, explaining that she was not wealthy or a corporation, and asked for her funds back.

Fortunately, the scammer responded to the plea and returned all of the money that had been stolen. This is an example of how criminals can be swayed by emotional pleas and is a rare glimmer of hope that not all criminals are completely heartless.

• S&P has downgraded the debt of Coinbase from “investment grade” to “speculative grade” due to decreased trading volumes and increased regulatory attention.
• The downgrade was influenced by the collapse of FTX in November 2022 and Coinbase’s efforts to cut operating expenses.
• Coinbase is expected to remain under pressure in 2023 despite potential benefits from rising interest rates, and has announced it will be cutting 950 jobs and paying out severance packages.

Coinbase, one of the leading cryptocurrency exchanges, has recently been dealt a big blow. Standard & Poor’s (S&P) has downgraded the debt of the company from “investment grade” to “speculative grade”, a move that has caused a dramatic drop in investor confidence.

The credit rating agency cited diminished trading volumes and heightened levels of regulatory scrutiny as the main reasons for the downgrade. Despite recent efforts to reduce its operating expenses, S&P believes that Coinbase’s profitability will remain under pressure in 2023. This is mainly due to the collapse of FTX in November 2022, which has led to increased scrutiny from authorities.

The downgrade has also been accompanied by a wave of layoffs at Coinbase. The company has stated that it will be cutting its workforce by around 950 people and, in the process, will be paying out severance packages that may range anywhere from $163 million to $240 million.

Coinbase has acknowledged that the downgrade and layoffs are a blow to the company’s finances, but has noted that it is still well-positioned to benefit from the potential advantages of rising interest rates. It remains to be seen how the company will fare in the months ahead, but it is clear that the outlook is not looking particularly rosy.

Overall, the recent S&P downgrade of Coinbase debt and the accompanying layoffs have caused a significant drop in investor confidence in the company. Despite its efforts to reduce operating expenses and the potential benefits of rising interest rates, Coinbase is expected to remain under pressure in 2023. It remains to be seen how the company will manage the challenges ahead, but it is clear that the outlook is not looking particularly promising.

• Data from the Bitnodes API shows that most Bitcoin (BTC) nodes are using the anonymous overlay network Tor.
• This shows the importance of privacy and anonymity among the more technical users of the Bitcoin network.
• The portion of nodes operating through Tor has steadily increased from 25% of all nodes one year ago.

The use of Bitcoin (BTC) nodes is becoming increasingly popular as the decentralized digital currency continues to grow and evolve. A recent deep dive into the BTC infrastructure has revealed that most of the nodes are routed through the anonymous overlay network Tor. This new data gives us an insight into the importance of privacy and anonymity among the more technical users of the Bitcoin network, as well as the decentralized nature of the blockchain’s infrastructure.

Tor is an open-source software that allows users to hide their IP address and location from prying eyes. It is a very useful tool for anyone wanting to keep their online activity anonymous. And for the Bitcoin network, it provides an extra layer of privacy and security for its nodes. The data from the Bitnodes application programming interface (API) shows that a significant portion of Bitcoin nodes – 8,162 out of 14,838, nearly 82% – are routing their traffic through Tor. This is a positive data point, particularly because these nodes are likely to ignore local regulation and stay outside of any enforcement action against Bitcoin node operators.

The portion of nodes operating through Tor has steadily increased from 25% of all the nodes about one year ago, after a bug led to them crashing. It is likely that this increase is due to the growing importance of privacy and anonymity among the more technical users of the Bitcoin network. Additionally, the decentralized nature of the blockchain’s infrastructure means that the risk of any regulation or enforcement action having a significant impact on the network is greatly reduced.

Overall, the data from the Bitnodes API reveals that privacy and anonymity are becoming increasingly important to Bitcoin users. Moreover, the decentralized nature of the blockchain’s infrastructure means that the network can remain secure and reliable even in the face of potential regulatory action. As the Bitcoin network continues to grow, it is likely that more nodes will start using Tor to protect their online activity and remain anonymous.