THIS NEWSLETTER IS SPONSORED BY | El Salvador has started mining bitcoin with volcanos | Quick Takes - El Salvador has mined some bitcoin using geothermal energy, according to its president.
- The set up is still being tested and installed but some bitcoin is already trickling in.
| El Salvador has officially started using volcanos to mine bitcoin, according to its president Nayib Bukele. So far, it has mined 0.0059 BTC, worth $260.
"We're still testing and installing, but this is officially the first Bitcoin mining from the volcanode," tweeted Bukele, providing a breakdown of the mining rewards so far. | | |  | Coinbase reports at least 6,000 user accounts compromised through exploited authentication bug | Third-party actors exploited a bug in the multi-factor authentication (MFA) process at crypto exchange Coinbase, gaining access to at least 6,000 user accounts between March and May of this year.
BleepingComputer first reported the developments, which were outlined in a message previously issued to affected users. | Axie Infinity is launching a decentralized exchange | Axie Infinity, one of the most popular blockchain gaming startups, is bridging the nascent gaming world with the market for decentralized finance with the launch of a new decentralized exchange. The new product, announced exclusively on The Scoop podcast, will facilitate the trading of tokens used within its ecosystem. Axie Infinity, launched by Sky Maven, allows users to buy, sell, and breed creatures called "axies." | Biden team is looking to bank regulation to solve the stablecoin question | The Biden administration is contemplating how it wants to regulate stablecoin issuers, and people familiar with the matter say it's considering encouraging firms to register as banks. The Wall Street Journal reported the rumblings today, saying the administration is expected to recommend Congress draft legislation for a special-purpose charter for stablecoin issuers. This charter would be tailored to crypto business models, according to the Journal. | | | THIS NEWSLETTER IS BROUGHT TO YOU BY | ZERO Maker Fees When You Trade Spot
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More than 2 million users have kickstarted their Bybit journey. You can, too, by signing up here. | | | The price of bitcoin reached nearly $48,000, adding $4,000 in a matter of hours this morning. | | | What's Next in Crypto and Payments | Join our panel of tax reporting and industry specialists as they discuss the current state of IRS tax reporting for cryptocurrencies and other crypto assets. Also, what might the new tax reporting regulations look like? And does the IRS's thirst for customer crypto tax data conflict with customer data privacy concerns or does it dovetail with customers' demand for tax transactional and gain/loss data themselves?
Panelists:
Lily Glazer, Blockchain/NFT Strategist, Manchester United
Michael McCaffrey, CEO, The Block
Sina Nader, COO, FTX US
AJ Shanley, Global Head of Crypto Solutions, Visa | | | Amber Group Joins Expanding Pyth Network | Amber Group, (the "Company"), a leading global crypto trading and technology firm, today announced that it has joined the Pyth network, a decentralized financial market data distribution platform. Through the partnership, Amber Group will contribute its first-party crypto asset market data to the Pyth network. | | | You are receiving this e-mail because you are subscribed to The Block's free newsletter. If someone shared this newsletter with you, you can easily subscribe to receive it in your inbox here. If you're looking for even more content, we have a separate newsletter for The Block Research, which you can sign-up for here. | | | | |
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