What's up, Market Movers! Welcome to the podcast where we serve up a curated, snackable summary of the latest news, trends and financial models, giving you all the intel you need to make better decisions when it comes to thinking about your money, protecting your money, and building wealth. For more, visit us at MarketMoversDaily.com And now for this week in crypto, this Friday, January 27th, 2023. The first nuclear powered data center set to mine Bitcoin.
Cumulus Data, a zero-carbon data center manufacturer and a subsidiary of independent power producer Talen Energy has finished the power shelf for its first data center, powered by a 2.5 gigawatt nuclear power plant. The Susquehanna nuclear power plant in Northeast Pennsylvania is planned to house the first cloud computing and Bitcoin mining operations in the United. Ethereum founder Buterin weighs a more private transaction.
Ethereum co-founder Vitalik Buterin has proposed a new system that would allow the blockchains users to generate encrypted addresses and receive funds privately on the network. The new system can provide more privacy for users activities ranging for money and financial transactions, as well as NFT transfers by allowing users to create stealth addresses. Binance could feel the sting of a bank's new crypto limit.
Signature bank won't support individual crypto customers who buy or sell amounts less than... wait for it... $100,000 Binance told Barons on Monday. This is the case for all of their crypto exchange clients. As a result, some individual users may not be able to use Swift Bank to buy or sell crypto with or for USD amounts less than $100k. Binance introduces function for API users to prevent self-trading. The service was made available to Binance API users yesterday.
The self-trade prevention or S STP function will block the execution of orders that would result in a self trade, an activity in which users trade with each other in order to create the illusion of there being more activity than there actually is. National Australia Bankmints stablecoin in a blockchain push. National Australia Bank Limited has created its own stablecoin pegged to the Australian dollar, a move that it says will help large institutional with blockchain technology transactions.
The Melbourne-based lender will start testing the token named AUDN before expanding its use case and getting feedback on the needs of corporate clients. Porsche, slams the brakes on NFT mint after backlash. The German sports car manufacturer announced on Twitter after receiving negative feedback from its community. Of the 7,500 tokens available, only 1,818 were minted at the time of this recording.
The project fared worse on secondary marketplaces, such as Open Sea with NFTs selling far below the mint price, meaning it was cheaper to buy the NFT at resale than mint an original. Celsius may issue a bankruptcy crypto token to pay credit. Celsius network LLC is considering issuing a new digital asset token to repay creditors as part of a proposal to reorganize.
Reorganizing Celsius into a publicly traded company that is properly licensed, would bring in more money for creditors than selling hard to liquidate assets at today's depressed prices, company attorney stated during a video court hearing. Latest Ethereum 'Shadow Fork' brings blockchain's Shanghai upgrade closer to reality.
Ethereum developers said they successfully created a copy of the blockchain known as a "shadow fork" to provide a testing environment ahead of crucial upgrade, known as the Shanghai hard fork in preparation for Shanghai, which will unlock staked ether (ETH) withdrawals, the protocol will be undergoing a series of test forks. Maple finance plots comeback with new $100 million liquidity pool for tax receivables with a 10% yield.
The new USDC stablecoin pool will enable firms to receive cash advances with a discount on their tax rebates and funding programs such as ERC from the IRS. The target yield of the liquidity pool is 10% annualized with a minimum investment of $500,000 in USDC and a 45 day lockup. Risk tolerance is still here in crypto while a good chunk of people got blown out. If prices rise, you'll see various alt coins and NFT projects do quick doubles, triples, even quadruple.
This assumes that the price of BTC and Ethereum go up and wealthy players stick around for the next six months or so. But assuming the market continues to improve, we'll certainly see options for a few small NFT projects and other coins doing better than. And that caps off your snackable new summary for the day. But now what? What can you do with this new found intel? How can you wield this information to protect and grow your money?
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