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BitDigest March 3 · Issue #853

Mar 3, 2021
Author
Gregory Landegger
Gregory Landegger
  • Bitcoin jumps back above $51,500
  • SEC Chairman nominee Gary Gensler told the Senate Banking Committee that if confirmed he will work to protect investors, and promote technological innovations while remaining neutral on such technologies
  • China expected to highlight DCEP in upcoming National Party sessions
BitDigest March 3 · Issue #853

The Headlines

BitDigest March 3 · Issue #853

Gensler Pledges to Promote Innovation and Protect Investors

www.banking.senate.gov
In yesterday’s Senate Banking Committee hearing for Gary Gensler as SEC Chair Nominee Gensler reported that that innovations like bitcoin and other cryptocurrencies have brought “new thinking to payments and financial inclusion, but they have also ​raised new issues of investor protection​ that we still need to attend to.” Later Gensler stressed the importance of remaining neutral in regard to technology development adding that “it’s important to​ ​stay true to our principles of investor protection and capital formation but at the same time be technology neutral​.”
BitDigest March 3 · Issue #853

Digital Yuan to be Highlighted at 'Two Sessions'

www.globaltimes.cn
China’s digital currency electronic payment is expected to be highlighted at the forthcoming ‘Two Session’ annual meetings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC).
BitDigest March 3 · Issue #853

Bitfarms to Increase Mining Capacity 700% by 2022

www.globenewswire.com
📈BitFarms (TSXV: BITF) has purchased 48,000 new MicroBT mining rigs enabling the Canadian crypto miner to increase its hashing capacity by 5 Ehash/s bring its total capacity to 3 Ehash/s by the end of 2021 and 5 Ehash/s by the end of 2022.
BitDigest March 3 · Issue #853

Bit Digital Announces January Mining Production

www.prnewswire.com
📈Bitcoin miner Bit Digital (NASDAQ: BTBT) announced the company earned 424.7 bitcoins, accounting for approximately $14.8 million in revenue in January, bringing its bitcoin in treasury up to 488.5 BTC. The company reports total mining capacity of 2,253.5 PH/s, representing an estimated 1.4% of global bitcoin mining network.
BitDigest March 3 · Issue #853

Ebang Issuing New Shares to Generate $150 Million

www.ir.ebang.com.cn
📈Ebang International (NASDAQ: EBON) plans to issue new shares and warrants generating $150 million in aggregate gross proceeds to be used for working capital and general corporate purposes.
BitDigest March 3 · Issue #853

Evolve Files Prospectus for Ether ETF

www.newswire.ca
📈Canadian ETF manager Evolve has filed a preliminary prospectus with Canadian securities regulators for an ETF to provide investors with exposure to Ether.
BitDigest March 3 · Issue #853

Amazon Adds Ethereum Integration

www.aws.amazon.com
Amazon Web Services (AWS) announced the “general availability of Ethereum on Amazon Managed Blockchain” allowing AWS clients to “easily provision Ethereum notes in minutes and connect to the public Ethereum main network and test networks.”

Mergers & Acquisitions

BitDigest March 3 · Issue #853

PayPal May Acquire Curv

www.bloomberg.com
📈PayPal (NASDAQ: PYPL) is reportedly in early talks to acquire crypto security firm Curv.

Market Data

BitDigest March 3 · Issue #853

Bitcoin 'Nearly Triples Your Money Every Year'

www.twitter.com
CaseBitcoin data depicts how bitcoin’s 10-year compounded annual growth rate is unmatched in financial history comparing BTC to gold, the S&P 500, Nasdaq Composite, long-dated US treasuries and even Tesla and Amazon’s stock. BTC has returned 196% over this period meaning “that bitcoin has returned almost 200% (so nearly tripled your money), every single year for 10 years, *compounded*.”

Exchange, Custody and Product News

BitDigest March 3 · Issue #853

Kraken adds OCEAN and EWT

www.blog.kraken.com
Kraken is adding support for Ocean Protocol (OCEAN) and Energy Web Token (EWT) to its exchange; EWT trading will not be available to resident in the US and Canada.

Thoughts on the Ecosystem

BitDigest March 3 · Issue #853

Warren Mimics Yellen

www.twitter.com
🐦📺😱Senator Elizabeth Warren (D-MA) repeated Treasury Secretary Janet Yellen’s thoughts calling bitcoin “speculative in nature” and warning it is “going to end badly” for some digital currency investors.
BitDigest March 3 · Issue #853

Cuban Explains Difference Between Use in Gold and Bitcoin

www.twitter.com
👍🐦Billionaire Mark Cuban responded to on Twitter to gold bug Peter Schiff suggesting that “gold is hyped as much as crypto” but where crypto is different is that, “BTC/Eth are technologies that can make you a banker, allow friction free exchange of value and are extensible into an unlimited range of biz and personal applications…What we are seeing built w/crypto today is just proof of concept. As tech continues to get better/cheaper/faster there will be new applications and maybe even something that supersedes what we know as crypto today. But Gold won’t ever change. Which is why it will die as a [store of value].”

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