BITCOIN

This week the bitcoin mining company Genesis Digital Assets announced that the firm has secured 708 megawatts (MW) in capacity and revealed plans to create 130 full-time jobs in the United States. The chief operating officer at Genesis, Andrey Kim, said the firm has been pleased with “the pace” of the bitcoin mining company’s U.S. expansion. Genesis Digital Assets U.S. Expansion Gathers 708 MW of Power On Wednesday, Genesis Digital Assets revealed it has acquired 708 MW of capacity as the firm’s U.S. expansion continues. Presently, Genesis mines bitcoin in four locations in Texas, three locations in South Carolina, and one location in North Carolina. During the first half of 2022, Genesis secured the 708 MW from the Texas, South Carolina, and North Carolina regions. The company said the expansion will create 130 full-time jobs and roughly 495 construction jobs for the local communities. “Every day, we are given a chance to create meaningful and lasting relationships by creating j

Crypto exchange Hotbit has announced the suspension of trading, deposits, withdrawals, and funding on its platform. The exchange said law enforcement has frozen some of its funds and subpoenaed some senior managers as they investigate a criminal case involving the exchange’s former employee. Hotbit Suspends Trading, Deposits, Withdrawals Cryptocurrency exchange Hotbit announced the suspension of its services on Wednesday. The company wrote: We regret to inform you that Hotbit will have to suspend trading, deposit, withdrawal and funding functions. The exact time of resumption cannot be determined at the moment. The exchange detailed that the reason for the suspension is because a former management employee is suspected of violating criminal laws. The employee left Hotbit in April. Unbeknownst to the exchange, he was involved in a project last year that was in violation of the company’s internal practice, the announcement details. Law enforcement has subpoenaed a number of Hotb

The world’s largest asset manager, Blackrock, has launched a spot bitcoin private trust. “Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients,” said Blackrock. Blackrock Launches Bitcoin Trust Blackrock, the world’s largest asset manager, has launched “Blackrock bitcoin private trust.” According to a Thursday blog post, the spot bitcoin private trust, available to U.S. institutional clients, seeks to track the performance of BTC , less expenses and liabilities of the trust. The asset management firm detailed: Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities. “Bitcoin is the oldest, largest, and most liquid cryptoasset, and is currently the primary subject of interest from our clients within the cryptoasset space,” th

The Moroccan Capital Market Authority (AMMC), the capital markets regulatory body in Morocco, announced recently that it has launched a fintech portal on its website. The new portal has been created in order to facilitate exchanges between the regulator and “companies involved in the innovative financial technology sector.” Portal to Help Promote Development of New Technologies Morocco’s capital markets regulator, the Moroccan Capital Market Authority (AMMC), recently announced the launch of a new fintech portal on its website. The objective of the new portal is to “support market players in their projects and promote the development of new technologies that will help transform the financial sector.” According to a statement , the AMMC’s establishment of the fintech portal signals the regulator’s willingness to embrace innovations within the financial services industry. “For the Moroccan Capital Market Authority, supporting the appeal of the capital market also means embracing inn