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How extreme Texas weather impacts the bitcoin mining industry

When most people consider what it takes to run a successful bitcoin mining operation, the price of the digital asset or the availability of so-called mining rigs come to mind.  Weather also matters.  In a recent episode of The Scoop, Marathon CEO Fred Thiel talked through the logistics of Marathon’s new West Texas plant, including how extreme weather conditions affect miner productivity. As Thiel explains, temperature extremes in both directions have a direct impact on the energy demanded from the …

Wall Street’s largest banks are tapping into the crypto market through derivatives

Episode 51 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and James Stickland, CEO of Elwood Technologies. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] Elwood Technologies — an Alan Howard backed digital asset platform that is building trading infrastructure for institutional investors — closed a $70 million Series A last month co-led by Goldman Sachs and Dawn Capital. In this …

European crypto ETN and ETP report: Thursday, June 9

Most crypto investment vehicles in Europe traded marginally down on Thursday, while others bucked the trend.  21Shares Cardano ETP was the worst performer on our list for June 9, trading at $12.89 — representing a daily loss of 1.55%. Other notable drops were 21Shares Ripple XRP ETP, down 0.83%, and BTCetc ETC Group’s Physical Bitcoin ETN, which lost 0.62% on Thursday.  Elsewhere, 21Shares Tezos ETP was the best performer, gaining 4.99% to close at $12.20. VanEck’s Solana ETN also closed …

DOE-backed researchers propose a solution to a stablecoin paradox: an electricity peg

Since they first emerged, stablecoins have faced a paradox.  At its heart, the stablecoin concept aims to bring centralized price stability to decentralized markets. Now, a group of researchers is proposing a new solution: using electricity as the backing asset. In a peer-reviewed paper published in MIT’s Cryptoeconomic Systems , two materials scientists at Lawrence Livermore National Laboratory​ outline a system for converting electricity into a proposed crypto token — and then back again.  “We reveal how electricity can be …

Skolem announces $20 million Series A round led by Galaxy Digital

Data and trade execution service provider Skolem Technologies announced Wednesday that it has closed a $20 million Series A round led by Galaxy Digital. Point72 Ventures, Jump Crypto, Fenwick and West, Morpheus Ventures and Dragonfly Capital also joined the round, according to a release.  Skolem aims to provide a safe and secure entry point for institutional investors wishing to access the constantly evolving decentralized finance (DeFi) markets, according to CEO and founder JP Smith. Proceeds from this round will go …

Marathon CEO explains the 3 key factors that make or break a bitcoin mining company

Episode 50 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Fred Thiel, Chair and CEO at Marathon Digital. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] Marathon Digital produced a “record” 1,259 bitcoins during the first three months of 2022. Yet the US-based bitcoin mining firm reported a Q1 net loss of $13 million, largely due to the decline in …

A16z and Coinbase execs back new crypto VC fund Canonical 

New venture capital firm Canonical Crypto has officially launched with its inaugural $20 million fund, joining a series of crypto funds raised in recent weeks. Canonical Crypto’s backers include Marc Andreessen and Chris Dixon of Andreessen Horowitz (a16z), Shan Aggarwal of Coinbase Ventures, Amy Wu of FTX Ventures, Haseeb Qureshi of Dragonfly Capital, Semil Shah of Haystack VC and Dan Romero, an early employee of Coinbase, as limited partners. When asked how Canonical was able to amass high-profile investors for …

Founder of largest decentralized derivatives exchange believes DeFi may soon see millions in new users

Episode 48 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Antonio Juliano, Founder & CEO of dYdX. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] In his last appearance on The Scoop, Antonio Juliano — founder and CEO of decentralized derivatives platform dYdX — was preparing to integrate StarkWare’s layer-2 scaling technology into the third iteration of the dYdX protocol.   Just over …

Anthony Scaramucci says institutions “ready to pounce” on spot bitcoin ETF

Episode 47 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Anthony Scaramucci, Founder of SkyBridge Capital and Chair of SALT. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] As Anthony Scaramucci explained during his last appearance on The Scoop, his firm SkyBridge Capital began investing in bitcoin near the end of 2020.  Just under two years later, Scaramucci is positioned near …

StarkWare founders talk through $100 million Series D fundraise, mass adoption

Episode 46 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and StarkWare Co-Founders Uri Kolodny and Eli Ben-Sasson. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] Fresh off the heels of a $50M Series C round last November, StarkWare Industries closed a $100M Series D round on Wednesday, giving the Israeli-based startup a valuation of $8 billion. The fundraise was led by …