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Russia to Decide Fate of Crypto Exchangers in 2022

Discussions on the future of “virtual currency exchangers” in Russia should be completed in 2022, a high-ranking representative of the country’s financial watchdog has indicated. Following international standards, authorities in Moscow would have to either regulate or ban such platforms.
Decision on Digital Currency Exchangers in Russia Expected Next Year
Considerations regarding the regulatory treatment of online exchangers working with cryptocurrencies must come to an end in 2022. That’s according to a statement by the Deputy Director of Russia’s Federal Financial Monitoring Service (Rosfinmonitoring) Herman Neglyad, quoted by Tass.
At this year’s Banking Legal Conference, the official noted that in the light of efforts to manage risks associated with money laundering and terrorist financing under the national risk assessment adopted in 2018, virtual assets such as cryptocurrencies are recognized as a high risk factor for Russia’s financial space. Neglyad also emphasized:
Here we will have a discussion to complete, I think, in the coming year. It should be determined within the framework of the FATF standards.
The Rosfinmonitoring executive further explained that for the FATF (Financial Action Task Force), it is necessary to regulate the points of entry into the official financial system, crypto exchangers in this case. The organization, he elaborated, offers the country two alternative approaches — either the legalization of these crypto platforms through registration as subjects of anti-money laundering laws, or prohibition of their activities.
“Both options have a right to exist. There are different points of view,” Herman Neglyad commented. At the same time, he insisted that the debate must eventually end.

In the Russian Federation, cryptocurrencies and some related activities have been partially regulated with the law “On Digital Financial Assets” which went into force in January. However, many important aspects such as the status of crypto mining, taxation matters, cryptocurrency trading, and the use of digital coins in payments need further regulation through the adoption of new legislation.
Bank of Russia, the country’s monetary authority, remains categorically opposed to allowing bitcoin payments. The financial regulator insists that decentralized digital currencies represent ‘money surrogates’ which are banned under Russian law. It’s also actively working with private banks to develop and issue a digital version of the national fiat, the ruble.
Crypto exchangers have often been the target of restrictive government actions. In October, a number of such platforms providing Russian residents with options to exchange, cash out, and transfer cryptocurrency using various payment methods were threatened with closure after a court ruling described their content as prohibited.

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Do you expect Russia to ban cryptocurrency exchangers? Share your thoughts on the subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Marathon Expands Miner Deployment Deal With Compute North, Aims to Power 100K+ Miners With Renewables

Marathon Digital Holdings, a Nasdaq-listed bitcoin mining-based company, has announced a new deal with Compute North, a data center service provider, to host more than 100,000 mining machines in its data centers. The deal is an expansion of an earlier deal that secured positioning for 73,000 mining machines in Texas. Now, the new partnership secures hosting for all of these machines, to be powered with renewables.
Marathon Expands Mining Operations
Marathon, one of the largest bitcoin mining companies in the U.S., has announced it will expand its prior agreement with Compute North to host more than 100K miners in data centers around the country. The former agreement secured hosting for 73K miners in several data centers managed by Compute North, which is a Tier 0 data center service provider. The partnership also includes the installation, operations, and deployments of Marathon’s existing and new mining facilities.
With this partnership, Marathon will position all of its mining machines in the near future. The company bought 30K miners from Bitmain in August, and these miners will be delivered starting next month — after which Marathon will install them to begin producing bitcoin for the company.

Focus on Eco-Mining
Perhaps the most significant part of the agreement has to do with the origin of the power that will feed the miners in these data centers. The power will predominantly come from renewables, including solar and wind farms. This will allow Marathon to expand its hash power with the purchased miners with sustainability as a primary goal. The mining deployments will be done “behind the meter,” to avoid causing any troubles in the different grid connections near these data centers.
Fred Thiel, CEO of Marathon, explained:

Our mining operations will not only be among the largest in North America, but also among the most efficient and most environmentally friendly. Additionally, given that the primary energy provider is one of the largest generators of renewable energy from wind and solar in North America, we now have a clear path to continue expanding.

Marathon further announced its intention of issuing convertible senior notes for $500 million in November, with the objective of purchasing more mining machines.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Empire Token on the Rise: Empire NFT Marketplace Now Supports Ethereum; Plans to Expand to Solana and Major Exchange Listing

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PRESS RELEASE. Abu Dhabi, UAE – Empire Token’s flagship utility, the Empire NFT Marketplace, is now live on the Ethereum mainnet. The Ethereum Blockchain is a global computing platform and operating system which can be used to create decentralized services and applications. Fortunately, the bright future of this blockchain now has Empire on its side. NFT creators and traders can now use Ethereum coin and Ethereum based tokens to mint and trade NFTs on the Empire NFT Marketplace. Projects that are powered by Ethereum may include anything from smart contracts, voting systems, decentralized exchanges, and much more. Constructing a bridge to the Ethereum Blockchain will be the building blocks for exciting applications to come to the Empire Ecosystem.
Empire NFT Marketplace expansion to Solana is likewise around the corner. Solana is a company that offers enterprise-grade blockchain solutions to meet the increasing demands of enterprises. Solana is a high-performance blockchain that’s designed for modern workloads. It has all the features of Bitcoin, but it’s application system can do so much more. Solana has the scalability of Ethereum, the privacy of Zcash, and is quantum-resistant. Empire will get the best of Solana’s scalability for all its upcoming projects and ensure modern day tools are provided for the Empire ecosystem.
Empire Token has also signed with a top-tier exchange to be revealed soon. All they can share right now is that this exchange is today, one of the world’s leading crypto exchanges in terms of trading volume according to Coinmarketcap․com, which lists it on the top 10 in terms of trading volume for cryptocurrencies globally. In the next two months, Empire will be listed on additional top 10 exchanges as the project continues to expand on the global crypto scene.
In addition to the big exchange listing news, Empire plans to launch Goosebumps which is Empire’s own decentralized exchange and portfolio tracking platform. Aside from typical portfolio features, Goosebumps will have unique functionalities including multi-chart layout trading view, multiple wallets tracking, and alerts system for major price movements. The DEX will also have a launchpad feature, where users can easily invest in or launch their own ICOs with Empire. For investors, this means a quick and easy way to get into the booming crypto market. For entrepreneurs, it means a streamlined path to raise funds for projects without going through the tedious process of doing so themselves. The launchpad will be key to raise funds for projects. Goosebumps can also help enterprises manage their digital assets and tokens in an easier way while keeping them secure from frauds and scams.
All of these interesting new projects to the Empire Ecosystem will be available to new and experienced users significantly faster with the help of the Empire Payment System. Empire Payment System is a payment system currently in the development phase that will allow instant conversion from FIAT to cryptocurrency and vice versa. This will make the process of transferring money from one currency to another much more efficient and easy. This system will solve a lot of problems that people have with the current payment systems that are available on the market. It will also provide a much more secure way of transferring money around for people who don’t want their information going through the internet.
About Empire Token
Built as a super token, Empire Token is a decentralized token on the Binance Smart Chain which brings utility stretching from DeFi applications to real-world operations. Empire’s goal is to bridge the gap between the crypto world and the real world as the latter gradually adapts to cryptocurrency. Empire aims to do this by integrating strong use cases into the token that will bring value not only to the whole DeFi and blockchain ecosystem but also the real world through innovation, utility, and modern tools.
Social Links
Twitter: https://twitter.com/RealEmpireToken
Instagram: https://www.instagram.com/empiretoken/
Media Contacts
Companу: Empire Token
Contact: Abdullah Ghandour
E-mail: [email protected]
Website: https://empiretoken.world/
SOURCE: Empire Token

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Korean Incubator Hashed Raises $200 Million for Web 3.0 Investments

Hashed, a Korean blockchain VC firm, has announced the launch of Hashed Venture Fund II, a new fund that will focus on investing in Web 3.0-based startups. The fund raised $200 million for these investments, and while the company did not disclose those who participated, it did announce it will be scaling operations to have a more global impact.
Hashed Focused on Web 3 Investments
Hashed, one of the biggest blockchain-based VC firms in Korea, has announced the launch of a new fund that will focus on Web 3.0 investments. Hashed disclosed its new fund, called Hashed Venture Fund II, would open with $200 million available to incubate startups in the Web 3.0 arena, including play-to-earn initiatives and decentralized finance companies.
With this fund, Hashed wants to expand its influence and reach a global scale, connecting with creators in places not contemplated before. Hashed’s announcement, written by partner Baek Kim, states:

We are carefully scaling our impact in key markets. In addition to our Seoul and San Francisco offices, we are expanding our Singapore office.

To achieve this, Hashed is also revamping its executive structure, promoting two of its earliest collaborators, Sean Hong and Baek Kim, to general partners.

Key Areas for Investment
While the company did not disclose the investors behind this new fund, it did provide the general guidelines that will apply to the investments of the initiative. The funds will be directed to companies in three key areas: the metaverse, open finance, and web 3.0 infrastructure.
The company has invested in play-to-earn initiatives and metaverse-based games such as The Sandbox and Axie Infinity before, so this announcement is no surprise in this field. What’s more interesting is the focus of the company on building web 3.0 infrastructure that could possibly be used by other protocols. The Hashed announcement stressed:

We will focus on solving problems that improve end-user experiences, designing more engaging metaverse games, and making web3 services safer for mass adoption.

The company is also working on several play-to-earn experiences of its own, designed by UNOPND, a sibling gaming company. This is the second fund Hashed has opened in less than a year, with the last one raising $120 million for similar investments. At that time also, the company declined to disclose the investors behind the deal.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Renowned Poker Star Doug Polk Becomes Coinflex’s First Global Brand Ambassador

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PRESS RELEASE. On the back of a big year for CoinFLEX, the crypto derivatives exchange that now powers the Bitcoin.com exchange, has just launched its brand ambassador initiative to expand its global community.
CoinFLEX’s first brand ambassador is world-renowned poker star, Doug Polk.
Doug Polk is one of poker’s most well-known superstars, having won over $9.5 million in live tournaments and more recently booking a win for $1.2 million in a heads-up competition versus fellow poker pro Daniel Negreanu.
Doug is just as well known for his skills “away from the felt” as a content creator and educator as he is for being a card shark. Some may know Doug from his crypto youtube channel, which gained 150,000+ subscribers in 2017. He also built one of poker’s most beloved youtube channels, amassing over 350,000 subscribers and over 1.3 billion views across his four YouTube channels.
Doug discovered crypto during his poker career when he needed a simple way to move money around the world as he went from country to country playing poker. When he found crypto, he immediately saw how it could benefit him and others like him worldwide. Doug said, “When I first came across Bitcoin, I was immediately hooked; I saw an opportunity that could change the way we view money.”
CoinFLEX is Doug Polk’s first-ever sponsor.
When asked why he chose to partner with CoinFLEX, Doug said, “I asked myself: do I believe in the core values of what CoinFLEX is trying to accomplish? Are they working on something interesting and unique? Something that can provide value to their customers?” The answer was a “resounding yes.”
As a known community builder and educator in the poker world, Doug will help CoinFLEX build a stronger global community of crypto enthusiasts and newcomers alike.
Mark Lamb, CEO of CoinFLEX, said, “Doug is exactly who we’re looking for and sets the bar high as we continue to grow the CoinFLEX community and our ambassador program.”
Read the official CoinFLEX announcement with Doug’s full statement here.

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Adidas Steps Into the Metaverse by Partnering With NFT Projects Bored Ape Yacht Club, Punks Comic

The German multinational corporation that crafts athletic shoes, sportswear, and accessories, Adidas AG is teaming up with the non-fungible token (NFT) brands the Bored Ape Yacht Club, and the comic series Punks Comic. Adidas revealed last week that the company partnered with Coinbase and believes the metaverse is one of the most “exciting” developments in digital.
Adidas Partners With Bored Ape Yacht Club, Punks Comic, and Gmoney
Adidas wants the world to know it is entering the world of blockchain technology and metaverse collectibles in a big way. On December 2, the company’s Twitter account announced that it teamed up with the cryptocurrency investor Gmoney, the Bored Ape Yacht Club (BAYC) NFT project, and Punks Comic.
“Today we leap Into The Metaverse with [Bored Ape Yacht Club], [Gmoney] & [Punks Comic]. It’s time to enter a world of limitless possibilities,” Adidas wrote on Thursday. The tweet was liked over 8,000 times and retweeted more than 4,000 times. The tweet also leads to a web portal called Adidas Metaverse which says:
It’s happening. Gmoney, Punks Comic and the Bored Ape Yacht Club lead Adidas into the Metaverse. Let’s go.

Adidas Wallet Holds More Than $200K in NFTs, Nikeland Revealed in Roblox Metaverse
The company has also updated its Twitter profile picture with a BAYC image. Adidas purchased Bored Ape Yacht Club #8,774 which was last sold for 46 ether or $156K at the time of settlement. The BAYC has heart-shaped sunglasses, a gold hoop for earrings, a “bored” look, a fisherman’s hat, and blue fur. In the recent Adidas tweet, the company has the BAYC sporting a yellow Adidas jacket with the classic three-stripe design.

#NewProfilePic pic.twitter.com/Dve8TbXT9k
— adidas Originals (@adidasoriginals) December 2, 2021

The address that purchased the BAYC holds 13 different NFTs from 11 unique collections according to dappradar.com stats. If Adidas is the owner of the wallet, it also owns Punks Comic: “The Hunt for the Lost Robbies” which was purchased for 6.95 ether. The Punks Comic and the recently purchased BAYC #8,774, are the most expensive NFTs in the wallet. The other NFTs held in the wallet that holds BAYC #8,774, are between $17 to $549 in floor value per NFT.
The wallet associated with BAYC #8,774, holds 13 different NFTs from 11 unique collections according to dappradar.com stats.
It has not yet been revealed when the BAYC and Adidas merged NFTs will be issued and released to the public. During last week’s reveal, Adidas detailed it was partnering with the crypto exchange giant Coinbase but also explained it was working with The Sandbox virtual blockchain world. The complete details of The Sandbox collaboration has yet to be revealed as well.
On November 18, Nike revealed “Nikeland” in the Roblox metaverse.
The company’s main competitor Nike revealed this month the business is also focused on the metaverse. On November 18, Nike published a blog post about “Nikeland,” which explained it has established itself in the virtual world Roblox. Nikeland on Roblox aims to be a “place where competition and creativity are abundant for all.”

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What do you think about Adidas stepping into the Metaverse in recent times? Let us know what you think about this subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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‘Wolf of Wall Street’ Jordan Belfort Warns About Investing in Dogecoin and Shiba Inu Cryptocurrencies

Jordan Belfort, the former stockbroker whose memoir was made into a film starring Leonardo DiCaprio, has warned about investing in meme cryptocurrencies, like dogecoin (DOGE) and shiba inu (SHIB). Belfort explained that “People are taking advantage of an unregulated market,” emphasizing that “The sooner governments step in the better it is for crypto.”
The Wolf of Wall Street’s Advice on Dogecoin and Shiba Inu Cryptocurrencies
Jordan Belfort, aka the Wolf of Wall Street, has warned investors about putting money in meme cryptocurrencies, like dogecoin (DOGE) and shiba inu (SHIB), in an interview with The Sun, published Tuesday.
“I’m a fan of blockchain but there’s a lot of nonsense out there, a lot of shit coins which serve no purpose and are only there to separate people from their money,” he opined.
Belfort is a former stockbroker whose memoir was adapted into a film titled “The Wolf of Wall Street,” starring Leonardo DiCaprio and directed by Martin Scorsese. Belfort founded Stratton Oakmont which functioned as a boiler room that marketed penny stocks and defrauded investors with “pump and dump” stock sales. He pleaded guilty to fraud in 1999 and went to prison for 22 months; he is now a motivational speaker.
“I got greedy. … Greed is not good,” he said in 2014 at a motivational talk in Dubai.
The Wolf of Wall Street author told The Sun:
You hear crazy stories of people making millions and billions but for every person like that there are 10,000 or 100,000 people getting their a** handed to them in shiba inu … It’s not a proper investment.
Belfort added: “People are taking advantage of an unregulated market and creating shit coins which have no value and have no use.”
Both dogecoin and shiba inu have gained immense popularity over the past months. At the time of writing, DOGE is the 10th largest crypto by market cap and SHIB is the 13th largest. The price of dogecoin is $0.210057. It has gained more than 6,154% over the past year. Shiba inu’s price is $0.00004284. The meme coin has gained 66,650,613.9% over the past year.

Belfort then lashed out at crypto investment schemes like MILF coin and yummy coin, stating that “unscrupulous people start the coins and get into a chat room and saying stuff that’s blatantly illegal.”
He stressed: “People should go to jail seriously – they are not legitimate. There is no way they are ever going to work … My guess is that someone will end up getting indicted for this stuff.”
Emphasizing, “What I hate about it the most is that legitimate stuff – it gives those digital coins a bad name,” he opined:
The sooner governments step in the better it is for crypto because when authorities start to regulate a dark market, it gets bigger and better.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Meta Relaxes Facebook’s Cryptocurrency Ad Policy — Says Crypto Continues to ‘Mature and Stabilize’

Meta, formerly Facebook, has relaxed its policy for cryptocurrency advertisements, making it easier for companies to run crypto ads on its platform. “We’re doing this because the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations that are setting clearer rules for their industry,” the company explained.
Meta’s New Rules for Cryptocurrency Advertising
Meta, formerly known as Facebook, announced Wednesday new rules for cryptocurrency advertising.
Instead of “using a variety of signals to confirm eligibility” for advertising on its platform, the company has increased the number of regulatory licenses it accepts from three to 27. Now, businesses only need to have one of 27 licenses to be eligible to advertise on Facebook.
“We’re making it easier to run ads about cryptocurrency on our platform,” Meta emphasized, adding:
We’re doing this because the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations that are setting clearer rules for their industry.
The 27 licenses include those issued by regulators in the U.S., Australia, Austria, Canada, Estonia, Finland, France, Germany, Hong Kong, Indonesia, Japan, Luxembourg, Malaysia, Netherlands, Norway, Philippines, Singapore, South Korea, Sweden, Thailand, United Arab Emirates, and the U.K.
In some jurisdictions, more than one license type is accepted. For example, in the U.S., businesses only need to be registered with the Financial Crimes Enforcement Network (FinCEN) as a money service business or have obtained a Bitlicense issued by the New York Department of Financial Services.

Noting that the change does not impact previously approved advertisers, the social media giant detailed:
This change will help make our policy more equitable and transparent and allow for a greater number of advertisers, including small businesses, to use our tools and grow their business.
Meta clarified that prior written permission is still required for crypto platforms, software apps, and products for exchanging, trading, lending, and borrowing. “Cryptocurrency wallets that also allow people to buy, sell, swap or stake their cryptocurrency tokens” and “Hardware and software for cryptocurrency mining” are also included.
The ad change announcement came one day after Meta’s executive David Marcus said he is stepping down and leaving the company at the end of the year. Marcus leads Facebook’s crypto efforts, including a crypto wallet and the digital currency diem, formerly libra.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Jurors in Billion-Dollar Bitcoin Trial Deadlocked for Days — Hung Jury Could Lead to Mistrial

Jurors in the Kleiman v. Wright trial are currently unable to come to a decision on the high-profile billion-dollar bitcoin lawsuit in Florida. While the judge has told the jury to take time deliberating the case, on Wednesday, the jurors issued a statement that explained they could not “come to a conclusion.”
Kleiman v. Wright Jurors Unable to Make a Decision — Judge Issues Allen Charge Extending Deliberation Time
Following the Thanksgiving holiday in the United States, jurors from the Kleiman v. Wright case have been deliberating on their decision for quite some time now. Some believe the jury may end up deadlocked and the case may lead to a mistrial. Court reporter Carolina Bolada from Law360 tweeted on December 2, 2021, that everyone at the courthouse was simply waiting for the decision.
“I’ve had a few requests for updates on Kleiman v. Wright,” Bolada tweeted on Thursday. “Believe me, if there were news, I would’ve tweeted it. We are all just waiting around for word from the jury.” The day prior on Wednesday afternoon, Bolada explained that the jurors gave a statement, which said:

Unfortunately, we cannot come to a conclusion and we cannot all agree on a verdict on any of the questions.

“Not a hung jury yet, but this isn’t looking good for a verdict,” Bolada further detailed after sharing the statement from the jury’s note. “The parties and the court are debating whether to issue an Allen charge to the jurors,” she added.
Judge Beth Bloom did end up issuing an Allen charge and said: “I suggest that you now carefully reexamine and reconsider all the evidence in light of the court’s instructions on the law.”

Extended Deliberation Time
If the jury cannot come to a verdict, the judge may declare a mistrial, and a new trial must occur with a new set of jurors. The judgment, if the plaintiffs won, is massive in terms of monetary value as estimates say it could be anywhere between $70 billion to “close to a trillion-dollar judgment.”
With the Allen charge, the judicial jury has extended deliberation time, and if the group cannot come to a decision it will end up being a hung jury and Judge Beth Bloom will have to decide again whether they should deliberate further. Traditionally, the push to deliberate further is not usually chosen more than twice. At the end of the day on Thursday, Law360’s Carolina Bolada wrote:

No verdict. The jury has asked to come back tomorrow. I am so ready for this to be over.

What do you think about the Kleiman v. Wright trial? Do you think it could end up being a mistrial? Let us know what you think about this subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Gaimin․io Developed a PC-Based Platform to Create a Global, Decentralized Data Processing Network

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UK and Swiss based gaming and blockchain company, GAIMIN.IO Ltd has developed a PC-based platform to create a global, decentralised data processing network with “supercomputer” level performance. The GAIMIN platform utilises underused processing power available from high performance GPUs and rewards users in its own cryptocurrency, GMRX, for participation in the GAIMIN data.
Why is the GAIMIN platform needed?
The Digital Revolution has created a large number of new industries, each with their own ever increasing demand for processing data. The powering of blockchain computations is one example. Within the cryptocurrency industry, this is commonly known as mining. With an increasing number of daily blockchain computations requiring increasingly more difficult computations and calculations to validate and close transactions, the demand for processing capability and computing power is ever increasing.
Other industries, such as video and CGI rendering, scientific computing simulations, AI intensive applications and life science analytics, are creating an increasing demand for processing power. These industries acquire, process, analyse and output data from multiple sources and require timely and accurate data for processing.
Emerging requirements for Data Processing
Global reliance on the digital ecosystem requires adoption of technologies that deliver cost effective, timely and reliable processing of transactions. The process must be secure and transparent ensuring the integrity of the transaction. Large scale data processing must deploy solutions that validate the integrity and security of the transaction, whilst providing an element of visibility that validates transparency whilst maintaining the confidentiality of the transaction originator and recipient.
The Problem with Centralised Data Processing Centres
Large, centralised data processing centres are one solution however these are not without their own risks and issues – they impact the local environmental and ecology, their physical footprint is limited, they are at risk from terrorism and natural disasters, energy consumption for operation, cooling and ventilation is considerable and impacts local energy capacity and they typically consume large amounts of fossil fuel.
More importantly, centralised data centres are not ideal for some new industries and technology applications. Sophisticated new technologies, such as the powering of blockchain computations, require a different solution – a distributed network of global processing power.
The Benefits of Decentralised Data Processing
Technology solutions are available to deliver secure and transparent services to industries however the biggest barrier is access to processing power. Centralised data processing centres are one solution but are not without their risks and issues; a decentralised data processing solution mitigates the issues and risks associated with centralised operations.
A company with a solution to decentralise processing power, harnessing a global availability of underutilised processing devices, creating a scalable solution as demand grows and falls whilst delivering rewards to all stakeholders will significantly benefit from this global problem.
The GAIMIN Solution
GAIMIN has identified a source of available processing power, capable of being harnessed into a supercomputer-level data processing network, delivering the capability needed to process large amounts of data.
This source of untapped processing power is found in PC-based gaming computers. The gaming industry is the largest and growing entertainment industry on the planet today. With 3.3 billion gamers worldwide by 2024 and 20% being PC-based gamers, there will be 600m gamers worldwide with high performance PC’s. Gamers desire the ultimate gaming experience and build their gaming devices with the most highly performing components, more specifically CPUs and GPUs, however these devices are only used for 20% of the day, often remaining switched on but unused for gaming.
GAIMIN has developed a platform to harness this processing power and reward the individuals who allow their devices to participate in GAIMIN’s data processing network, generating a passive monetization for the participant and revenue for GAIMIN. This solves one of the gamer’s biggest problems – that of how they can fund their gaming experience both from a hardware perspective and also from an in-game experience.

The GAIMIN PC-based application
The GAIMIN PC-based application is completely free to download and run, no credit cards are required, and the gamer earns passive rewards based on the performance of their device and the number of hours it remains connected to the GAIMIN network. Typically, this equates to between $30 and $100 per month.
Gamers are the ideal demographic for a number of reasons:

Gamers have very powerful and valuable computing resources which are often idle. The GAIMIN platform allows for automated, passive monetization of these resources when they are not being used.
Gamers invest significant money in the GPUs that power their expensive gaming computers but these are only used on average for 4 hours per day but remain switched on and connected to the Internet. Using the GAIMIN application, the PC and its devices can passively participate in the GAIMIN Processing Power Supply Network.
Gamers can utilize their contacts via chat and social media and gaming “channels” via the GAIMIN “Network Expansion Program” referral system and be rewarded with an ongoing 10% of the hash power contribution of anyone they refer. By simply referring just 10 additional gamers this effectively doubles the users hash contribution and accordingly, their rewards.
No ongoing effort or knowledge is needed by the gamer. A gamer only has to download and install the GAIMIN platform and tell some friends! No knowledge needed. The GAIMIN AI Engine handles all aspects of monetization.
The GAIMIN software does not overclock or use any other such practices which may cause any further degradation to the user’s gaming PC than would playing any of the most popular online games.

The GAIMIN Data Processing Network
The GAIMIN platform creates the optimal network to power the most profitable data processing computations, identifying the available processing devices, harnessing them to create a global data processing network with “supercomputer” processing capability and through AI, selects the most profitable use of the processing power.
Extensible monetization functionality is a key component of the GAIMIN platform. The platform currently monetizes through the powering of blockchain computations, video rendering has successfully been trialled and other functionality is planned for implementation.
The GAIMIN platform currently focuses on mining cryptocurrency to monetize services. Currently 27 cryptos are incorporated into the GAIMIN AI Engine, with more being added. GAIMIN receives mining fees for processing these computations and returns up to 90% of the rewards back to the participants in the processing network, retaining the remaining 10% for its own operations.
Passive Rewards
Rewards are paid in the form of the mined cryptocurrency, so to mitigate users receiving rewards in a multitude of different cryptocurrencies, GAIMIN consolidates rewards into a single cryptocurrency – GAIMIN’s own token, GMRX. Users receive rewards directly into their GAIMIN wallet and are free to convert their GMRX into fiat currency, another crypto currency or spend their rewards on merchandise and accessories available from GAIMIN.

GAIMIN’s GMRX Token
In order to provide tangible benefit to holders of the GMRX token, GAIMIN will launch GMRX on cryptocurrency exchanges, allowing GMRX to be traded and exchanged. Prior to the launch, GAIMIN will release 8,888 Genesis NFTs which provide the owner with a monthly GMRX airdrop for 12 months along with a physical token. These Genesis NFTs will be limited to 88 Black Gold, 2,800 Gold and 6,000 Silver with each category having its own dedicated utility. With a single purchase price and randomised allocation, purchase will be limited to 20 per person.
Gamers are incentivized by the passive reward capabilities of this token and also may see opportunities to earn in-game assets or NFTs for their favourite games, which are passively generated by dedicating the computing power of their device to the GAIMIN network.
No Gamer Left Behind…
With a target of over 1 million active users in its network, the majority of whom will be gamers,GAIMIN has a high level of social responsibility to this influential community. GAIMIN will create socially responsible approaches to gaming to ensure its community balances the enjoyment of games with the non-gaming aspects of their lives.
GAIMIN will bring gaming to under-developed countries and communities. Through future initiatives such as bespoke designed, dual GPU hardware, GAIMIN will provide access to leading edge IT systems to underprivileged global users. The provision of hardware and communications infrastructure not only benefits the recipients but GAIMIN via the data processing. The cost of these services will be covered by the processing power utilised from within the PC devices.
Disability and physical limitations to not exist in the digital world. GAIMIN will inherit this philosophy in the physical world. GAIMIN are looking to offer devices, solutions and gaming accessories that provide the gaming experience to those people whose disabilities prevent them from fully participating in a gaming experience
GAIMIN will build gamification into the GAIMIN application and dashboards. This will include themes such as personal development, personal responsibility, leadership, morals, ethics and social responsibility. Combined with formalised skills development, such as game development, computer programming, economics and education providers, GAIMIN has the power to shape 1.5 billion youthful minds.
The GAIMIN philosophy – “No gamer is left behind.”

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