Sichuan hosts seminar to gauge potential bitcoin mining ban's impact on hydropower economy
Government officials of Sichuan's energy regulators are hosting a seminar next week to gauge the impact that shutting down local bitcoin mining activities would have had on the hydro-electricity excess this year. The Sichuan energy regulatory office under China's National Energy Administration sent a meeting summon on May 25 to representatives in various state-owned energy entities such as the State Grid's Sichuan office, the Sichuan Energy Industry Investment Group and the Energy Trading Center. Based on the meeting agenda outlined in the note, representatives from major energy sectors in Sichuan are asked to present the size of crypto mining activities under their remit as well as how big of an impact they think it will have on the government's plan to consume energy excess this year if these mining activities are all shut down.
Blockchain Platform Chia Raises $61M From a16z
Chia Network, a programmable money platform created by BitTorrent founder Bram Cohen, has raised $61 million in Series D funding. Venture capital giants Andreessen Horowitz (a16z) and Richmond Global Ventures led the funding round. Chia now has a valuation of about $500 million, according to an unnamed source, more than double the company's previous valuation. Richmond Global Ventures managing partner David Frazee will join Chia’s board, according to the report. He invested individually in the firm. A16z first invested in Chia in 2018.
MicroStrategy adds another $10 million in bitcoin to its holdings
MicroStrategy has made yet another addition to its growing stockpile of bitcoin. On Tuesday, the publicly traded company bought 229 BTC for $10 million at an average of roughly $44,000 per BTC, according to an 8-K form filed with the Securities and Exchange Commission. MicroStrategy now owns 92,079 bitcoins worth $2.25 billion total for about $24,000 per BTC.
MoneyGram to allow retail Bitcoin buying in the US
MoneyGram to allow retail Bitcoin buying in the US. Crypto adoption among mainstream payment service companies continues to grow, with MoneyGram set to join the list. In a release issued on Wednesday, the global payment service announced a partnership with crypto exchange and Bitcoin (BTC) ATM operator Coinme Inc., to allow United States customers to withdraw their cryptocurrency holdings for cash across its point-of-sale outlets in the country. As part of the announcement, MoneyGram also revealed that customers will be able to buy BTC and crypto in an expansion of the existing crypto-to-cash model pioneered by the almost 20,000 cryptocurrency ATMs around the world. MoneyGram debuting physical Bitcoin-buying across its locations in the U.S. is also another example of fintech and payment service firms warming up to cryptocurrencies.
Ebay Allows Sale of NFTs on Platform
Ebay is allowing the sale of non-fungible tokens (NFTs) for digital collectibles such as trading cards, images and video clips on its platform, according to Reuters. Users can bid on NFTs as they would for a physical item. All payments will be made in U.S. dollars — unlike other prominent NFT platforms, which usually accept ether (ETH) for NFT payments. Many of the NFTs currently available for sale on eBay appear to be on the WAX blockchain, with sellers stipulating that buyers create a WAX wallet in order to receive their NFT. The move to allow NFT sales comes a week after the e-commerce firm's CEO Jamie Iannone told CNBC that the company was looking at ways to incorporate NFTs on its platform.