Provincial government says move is necessary to protect grid stability, but industry experts argue it’s a short-sighted approach that ignores the benefits of crypto mining. The government of British Columbia (BC) is set to ban new crypto mining connections to its hydroelectric power grid, citing concerns over surging electricity demand and limited economic benefits from the sector. The decision, announced Monday, comes as part of a broader strategy to balance energy supply for both traditional and emerging industries like artificial intelligence (AI) and data centers. According to the provincial statement, the new legislation—effective fall 2025—will introduce “limits on the power…
Author: Blockto Team
White House economic adviser Kevin Hassett has said the ongoing US government shutdown is “likely to end sometime this week,” signaling a potential revival of crypto regulatory progress that has been stalled for nearly three weeks. A Path Toward Ending the Shutdown Speaking to CNBC’s Squawk Box on Monday, Hassett said he expects moderate Democrats to join Republicans in reopening the government. “The Schumer shutdown is likely to end sometime this week. The moderate Democrats will move forward and get us an open government, at which point we can negotiate policies through regular order,” he stated. Hassett added that if…
ETH Tests Crucial Demand Area Amid Market Consolidation and Bitcoin Volatility Ethereum (ETH) slipped below the $3,850 level on Monday, signaling growing caution among traders after a volatile weekend across major cryptocurrencies. Despite the decline, the asset continues to hover near a crucial ascending trendline that has supported its multi-month rally since early May. Ethereum Price Analysis: Testing Key Support Levels The daily chart shows Ethereum retesting the major support area between $3,700 and $3,850, which has acted as a strong demand zone since late August. This area coincides with the green support region highlighted on the chart, suggesting that…
On-chain analyst Willy Woo has cautioned that the next crypto bear market may unfold under entirely new conditions — driven not by Bitcoin’s halving or liquidity cycles, but by a global business cycle downturn similar to the recessions of 2001 and 2008. A Different Kind of Crypto Correction Ahead In a post shared on Monday, Woo noted that crypto’s previous downturns were largely influenced by Bitcoin halving cycles and changes in global M2 money supply, both of which move in roughly four-year patterns. According to data from the National Bureau of Economic Research (NBER), the U.S. economy has not entered…
Crypto exchange Coinbase has called on the U.S. Treasury Department to adopt blockchain analytics, artificial intelligence (AI), and other emerging tools to strengthen efforts against financial crime. The company argues that law enforcement must modernize its methods to keep pace with increasingly sophisticated money-laundering schemes. In a letter to the Treasury dated October 17, Paul Grewal, Coinbase’s chief legal officer, said that traditional monitoring frameworks are struggling to handle the evolving tactics used in digital asset markets. “Blockchain and other innovative technologies can counter these emerging risks. Treasury and other policymakers should promote their use to identify and deter illicit…
BTC Consolidates Below Resistance as Traders Eye Key Support at $105K–$106K Zone After a strong surge past $110,000 earlier this week, Bitcoin (BTC) has entered a mild retracement phase, pulling back toward $107,000 as traders lock in profits and markets digest the recent rally. Despite the pullback, analysts view the correction as a healthy consolidation within an ongoing uptrend, suggesting that the leading cryptocurrency could be preparing for another move higher if support levels hold. Bitcoin Technical Analysis: Support Holds Above $105K The daily chart shows that BTC is currently testing support near the $105,000–$106,000 range, an area that previously…
AAVE Price Rebounds from Oversold Levels, Regaining Momentum Amid Broader Market Stability Aave (AAVE) has posted a notable 10% rebound, climbing back above the $220 mark after briefly dipping toward its critical support zone near $195. The decentralized lending protocol’s native token appears to be stabilizing following weeks of downside pressure, with technical indicators suggesting that a short-term bullish reversal could be forming. AAVE Technical Analysis: Bulls Regain Ground Above Key Support According to the daily chart, AAVE bounced sharply from a strong demand zone between $190 and $200, which had previously acted as a base during its recovery earlier…
Ethereum co-founder Joseph Lubin has defended the role of venture capital (VC) firms such as Paradigm, arguing that they remain essential to the network’s long-term growth — even as some critics accuse VCs of exploiting the ecosystem for profit. VCs Remain Key to Ethereum’s Global Expansion Lubin, who also leads blockchain software firm Consensys, wrote in a Monday social media post that while the main objective of VCs is to “suck as much value as possible from Ethereum and the broader ecosystem,” their involvement remains strategically important.He added that their secondary goal is to push for “rigorous decentralization,” calling this…
Ethereum’s latest price correction has created a rare entry point for long-term investors, according to BitMine chairman Tom Lee, who believes the digital asset is entering what he calls a “supercycle.” Ethereum Enters a Potential Supercycle Speaking after BitMine’s latest Ether purchase, Lee highlighted that Ethereum’s open interest levels mirror those from June, when the token traded at just $2,500. “Given the expected supercycle for Ethereum, this price dislocation represents an attractive risk/reward opportunity,” Lee said in a company statement on Monday. Blockchain analytics platform Arkham Intelligence confirmed that BitMine purchased $250 million worth of Ether from exchanges Bitgo and…
Bolivia’s newly elected president, Rodrigo Paz, plans to use blockchain technology to increase transparency and tackle corruption in public procurement, marking a major shift in the nation’s digital policy. Blockchain as a Tool for Transparency According to reports from local media and the Associated Press, Paz secured 54.5% of the vote in Sunday’s presidential runoff, defeating rival Jorge Quiroga. He will assume office on November 8, inheriting an economy struggling with fuel shortages and a shortage of U.S. dollars. Paz’s government program includes two blockchain-based reforms: first, the implementation of smart contracts in public purchasing systems to eliminate discretionary decision-making;…