Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, to industry news, and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
Happy Monday Ndaxers—exciting news from the Cosmos Ecosystem and... the results from the Bank of Canada’s research on Canada’s openness to a Digital Dollar.
Cosmos Founder Jae Kwon has left the building—but not to worry, there is a plan—Hard fork ahead!
“Bank of Canada publishes report on digital dollar consultations” With a respondent base comprising 28% High School/CEGEP, 17% trade/vocational training, and 54% bachelor's degree or more, what are the results from their consultation with Canadians gauging interest in a digital CAD? “Yes we are aware of a digital dollar and, thank you, but no thank you.” In the words of the Central Bank’s own half-dozen (publicly funded) media and PR consultants: “Canadians place a high value on holding cash and want to maintain access to banknotes. Canadians value their right to privacy and many expressed concerns that a digital dollar could compromise that right." What Canadians actually told the Bank, is slightly more telling: “When respondents considered whether they trust the Bank of Canada to issue a secure digital dollar resistant to cyberattacks, theft, and fraud, 9 in 10 respondents lacked confidence in the Bank of Canada's ability to do so”. Out of a sample of 89,423 completed surveys, while 12% claimed they would “potentially use a Canadian Digital Dollar”, 85% claimed, “I would not”. Bank of Canada
They trade on the TSX under the ticker HUT. The Alberta-based Canadian Bitcoin miner Hut 8 Mining Corp. has completed a merger with US Bitcoin Corp, rebranding as Hut 8 Corp (New Hut), a U.S.-based entity. The new company, with 825 MW of energy across 11 sites, will trade on Nasdaq and TSX under "HUT" starting December 4. New Hut shares are issued on a 5 to 1 basis compared to Hut 8 shares. The merger—the industry's largest to date—aims for future growth with a focus on operational efficiency and strategic positioning for the upcoming BTC halving. The CEO, Jaime Leverton, sees opportunities for growth and integration to provide more value across their mining ops. Let them terahashes fly! CryptoSlate
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Disclaimer: This article is not intended to provide investment, legal, accounting, tax, or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.