Blockchain
HyperBlock Provides Update on Operations
HyperBlock Inc. (CSE: HYPR) is pleased to provide an update on its ongoing operational reorganization and planned expansion, which includes the sale of non-core assets at one of its Canadian facilities.
Sale of Non-Core Assets On-Track
In February 2019, the company announced it had entered into a binding agreement (the “Agreement”) for the sale of non-core datacenter assets and related infrastructure. In addition to the sale of non-core datacenter assets for US$1 million, the Agreement provides the Buyer with the Option to assume operation of the facility (the “Facility”), and to transition services required to operate certain non-core datacenter assets at the Facility. The buyer has made all scheduled progress payments, the transaction is now expected to close, and the Option must be exercised by the Buyer, on or before June 30, 2019. A copy of the Agreement can be found at www.sedar.com
Datacenter Expansion Update
The Missoula County Commission recently passed emergency interim zoning regulations designed to regulate cryptocurrency mining datacenters. While attorneys for the company are working to gain a better understanding of some of the nuances of the regulations, they seem to place additional requirements on the methods and sources the company uses to purchase its electricity. The company is investigating whether such regulations are lawful and within the scope of the County’s jurisdiction. The practical effect of these regulations will likely be to postpone the company’s previously announced, and already begun, 20MW to 60MW datacenter expansion project. The company is investigating all of its options with the assistance of legal counsel, local community leaders and electric utility experts. The company is cautiously optimistic that the substantial investments it made that pre-date the interim zoning regulations mean the company’s rights to expand as intended are vested under applicable law.
HyperBlock continues to be committed to operating as sustainably as possible, purchasing electricity from a hydro-electric dam for its current 20MW Missoula datacenter — and employing advanced recycling technology to minimize environmental impact.
Deploying Working Capital Efficiently
Because of a crowded competitive marketplace, and in order to preserve working capital, the company has opted to discontinue further work on its custodial storage platform.
SOURCE HyperBlock
Blockchain
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Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Blockchain
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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