Ah, February! A month that has left the crypto industry with more tales than a drunken sailor on shore leave. With policy changes looming like a cloud of smoke from a dodgy cigar, and Bitcoin adoption spreading like gossip at a tea party, one could hardly keep a straight face!
According to a rather amusing report, the Bitcoin network is decentralizing faster than a cat can knock over a vase. Public companies now account for a whopping 35% of the global hashrate, while China’s once-mighty grip has dwindled to a mere 14%. Talk about a fall from grace!
In the good ol’ US of A, the crypto industry is making strides on the legal front, as the Securities and Exchange Commission (SEC) has decided to drop or pause five major legal proceedings against crypto-related entities. A round of applause, if you please! 👏
But hold your horses! Not everything is as rosy as a freshly bloomed rose. This month witnessed the largest exchange hack in history, with the notorious North Korean hacker group Lazarus suspected of making off with a staggering $1.4 billion in Ether. Meanwhile, the memecoin market is cooling down faster than a cup of tea left out in the cold, with issuances plummeting to a mere 40,000 per day. Oh, the humanity!
Now, let’s take a gander at February by the numbers, shall we?
SEC drops 6 cases against major crypto firms
In a move that has left many scratching their heads, the SEC has halted or paused six legal proceedings against various exchanges and protocols this month, including the likes of Coinbase, Uniswap, and Robinhood Crypto. Quite the spectacle! 🎭
This action signifies a new approach from the commission, which has formed a Crypto Task Force, led by the ever-charming Commissioner Hester Peirce. The group has already had a chinwag with industry stakeholders to discuss fine-tuning rules regarding staking, exchange-traded products (ETPs), and a framework for digital assets. Quite the busy bees!
And it seems the SEC and its potential new chair, Paul Atkins, have given Ripple‘s chief legal officer Stuart Alderoty a glimmer of hope that the high-profile case against the firm may just be dismissed. Fancy that!
Bitcoin decentralizes: 70% of Bitcoin owned by individuals
At the start of this month, investment firm River released an annual report that revealed Bitcoin is not just growing, but is also becoming more decentralized. Who would have thought? The US and China’s share of global hashrate has taken a nosedive, with 28 countries now boasting over 0.1% of the global hashrate. A veritable global buffet of Bitcoin mining!
Interestingly, mining pools are becoming more evenly distributed. The top 10 mining pools still hold the lion’s share, but their overall hashrate has taken a bit of a tumble in 2024. A classic case of too much of a good thing!
Governments, financial institutions, and even software companies are now showing a keen interest in Bitcoin. Regular large buyers like Michel Saylor’s Strategy and El Salvador are continuing their purchases at a brisk pace. But fear not, dear reader, for nearly 70% of Bitcoin is still owned by individuals. A true democratic currency!
US lawmakers are eager for Bitcoin reserves, but five states reject
It has not yet been 40 days since US President Donald Trump took office and has begun, alongside his merry band of Congress allies, to deregulate the crypto industry. A veritable crypto revolution! 15 new crypto-friendly legislators have joined Congress after the 2024 elections. How delightful!
Read More
- USD VES PREDICTION
- How to watch A Complete Unknown – is it streaming?
- INJ PREDICTION. INJ cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- COW PREDICTION. COW cryptocurrency
- USD MXN PREDICTION
- EUR HUF PREDICTION
- FIL PREDICTION. FIL cryptocurrency
- RLC PREDICTION. RLC cryptocurrency
- CRV PREDICTION. CRV cryptocurrency
2025-02-28 17:06