China blackout triggers Bitcoin fee spike

Supposed coal mining explosion leads to widespread blackouts in Xinjiang, causing a dropping hashrate and all time high fees

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Bitcoin hashrate drops over 45%, price slides 10% After reaching a new all-time high, Bitcoin's hashrate plummeted by as much as 45% by some estimates, potentially its biggest 24-hour drop ever. Supposedly triggered by a coal mining explosion that led to widespread blackouts in the Chinese province of Xinjiang, rumours of "safety inspections" at Bitcoin mining facilities spread. Read more Price Update   Become legendary! Play Legends of Slots on Bitcoin.com Games to win from a prize pool of $1,000 & 2,000 Free Spins every week! Play Now In the news US SEC expected to impose 'fair amount' of regulation on crypto Former SEC Chairman Harvey talked about the future of cryptocurrency regulation following the confirmation of his successor, now SEC chairman, Gary Gensler. "There is a definite likelihood that the SEC will move forward. Gary Gensler is an expert on cryptocurrencies. He has taught about them. He is a market expert," Pitt stated. US lawmaker warns not to ignore Bitcoin or America will fall behind Congressman Kevin McCarthy has urged Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell not to ignore Bitcoin as he believes they have been doing, fearing other countries are making more progress. McCarthy, a longtime crypto proponent, says he hasn't been impressed with statements made by Yellen and Powell, stating: "I think they tried to ignore it to make it go away." Paypal's Venmo launches crypto trading for 70 million users Venmo has announced the rollout of its crypto service, allowing its users to buy, sell, and hold four types of cryptocurrencies, including Bitcoin and Bitcoin Cash.    However, many in the crypto community were immediately skeptical of the new announcement, citing that the service may not actually be enabling users to purchase real digital assets, and that users are unable to send or receive crypto outside of the Venmo/Paypal ecosystem.     @2021 Saint Bitts, LLC 858 Zenway Blvd, P.O. Box 1830, Frigate Bay, Saint Kitts and Nevis  This email was sent to yogyabiz.bitcoin@blogger.com. To unsubscribe or manage your subscriptions click here. Have feedback for us? Submit here.