Sanctions and strong ruble challenge Russia's crypto mining industry

Aug 9, 2022
A cold climate and cheap energy have made Russia a destination for bitcoin mining. But new factors confront its cryptocurrency efforts.
The strength of the Russian ruble has made it costly to mine cryptocurrency there. Above, a bitcoin mining center in Kirishi, Russia.
Olga Maltseva/AFP via Getty Images

Even amid the crash, there's some optimism about the future of crypto

The co-founder of one financial services company is bullish on digital currencies even as uncertainty roils the market.
"Similar to the past so-called crypto winters, the underlying foundation, the development, the technology and the adoption [of crypto] has been continuing," said William Cai, co-founder and managing partner at Wilshire Phoenix.
Ina Fassbender/AFP via Getty Images

Crypto industry finds itself in the thick of local fights over greenhouse gas emissions

Jul 1, 2022
New York's denial of a power plant permit highlights what's at stake for the crypto industry and communities fighting to meet climate goals.
Thursday, New York state officials decided not to renew an air permit for a cryptocurrency mining facility citing emission-reduction goals. Above, a workers install a row of bitcoin mining machines in Texas.
Mark Felix/AFP via Getty Images

New York state awaits governor's decision on partial crypto mining moratorium

Jun 23, 2022
The 2-year moratorium prevents the repurposing of fossil-fuel burning power plants into crypto mining operations.
A large metal tube juts into Seneca Lake. The Greenidge Generation crypto mining facility uses the tube to take in water to cool its equipment. The warmer water is then discharged back into the lake.
Lily Jamali/Marketplace

New York lawmakers push to pump the brakes on crypto mining

Jun 15, 2022
A bill awaiting Gov. Kathy Hochul's signature would enact a two-year moratorium on the industry's use of fossil-fuel power plants to mine cryptocurrency. A Finger Lakes community is wrestling with the environmental impacts.
Crypto mining has entered the crosshairs of New York lawmakers.
Photo by LARS HAGBERG/AFP via Getty Images

Are we headed for another crypto winter?

Jun 14, 2022
The term describes the downturn in the value of bitcoin as well as the fortunes of companies that support the cryptocurrency ecosystem.
Above, a bitcoin ATM at a Miami shop. Investors have been fleeing the cryptocurrency world and values are sliding.
Joe Raedle/Getty Images

What's up with celebrities and cryptocurrency?

Jun 10, 2022
"Celebrities are rich for reasons having nothing to do with their crypto investments," says Vox's Emily Stewart.
Actor Matt Damon told viewers that "fortune favors the brave" during a Super Bowl ad for Crypto.com.
Valery Hache/Getty Images

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When a cryptocurrency you never heard of drains your life savings

Jun 9, 2022
The terraUSD meltdown destroyed the nest eggs of people who had no idea what it was nor that they'd invested in it.
A cryptocurrency exchange office in Istanbul in October. Last month, the "stablecoin" terraUSD lost $60 billion in value in a matter of days.
Chris McGrath/Getty Images

Crypto's growth spawns a Washington debate: Who should regulate it?

Jun 8, 2022
A bill would put the Commodity Futures Trading Commission in charge. Some consumer advocates back the Securities and Exchange Commission.
The Securities and Exchange Commission has more people to oversee cryptocurrency than the smaller Commodity Futures Trading Commission, but other factors are involved.
Saul Loeb/AFP via Getty Images

The argument against the Fed creating a central bank digital currency

“It's hard to find a clear reason to have [a CBDC], and, in fact, there are a lot of reasons not to,” says the Roosevelt Institute’s Chris Hughes.
“It's hard to find a clear reason to have [a CBDC], and, in fact, there are a lot of reasons not to,” said the Roosevelt Institute’s Chris Hughes.
Mladen Antonov/AFP via Getty Images