This Week in Crypto
November 3, 2023
Welcome to another exciting edition of “This Week in Crypto.” In this week’s episode, we’ve got a rollercoaster of news from the world of cryptocurrency and blockchain. From a high-profile legal case to innovative methods of powering Bitcoin mining and a major bank’s foray into gold tokenization, we’ve got it all covered. So, let’s dive into the highlights!
- Sam Bankman-Fried Verdict
- Methane-Powered Bitcoin Mining
- HSBC’s Gold Tokenization
- Major AXS App Update
Sam Bankman-Fried Found Guilty on All Counts
In a dramatic turn of events, Sam Bankman-Fried, the founder of FTX, has been found guilty on all seven criminal fraud counts. With a potential maximum sentence of 115 years in prison, the trial captured the crypto community’s attention. The central question for jurors revolved around whether Bankman-Fried acted with criminal intent in using customer funds for various purposes. His case has drawn comparisons to the infamous Elizabeth Holmes trial. Bankman-Fried now awaits sentencing, with another trial looming in March.
Methane-Powered Bitcoin Mining by Marathon
Marathon Digital, a prominent Bitcoin miner, is taking a greener approach to mining. They’ve initiated a pilot project in Utah that uses methane gas from landfill waste to generate electricity for their mining operations. This innovative partnership with Nodal Power aims to reduce greenhouse emissions and make Bitcoin mining more environmentally friendly. If the test project proves successful, it could pave the way for broader adoption of such sustainable energy solutions in the crypto mining industry.
HSBC’s Gold Tokenization
HSBC, a London-based financial giant, is stepping into the world of tokenization with a focus on gold. They’ve launched a platform that allows tokenized ownership of physical gold stored in their London vault, using distributed ledger technology (DLT). This approach creates a digital representation of clients’ gold holdings, and one token is equivalent to 0.001 troy ounce of gold. HSBC’s platform enables the trading of tokenized gold between the bank and institutional investors, adding an exciting dimension to the tokenization space.
Major AXS App Update
The AXS App has just undergone a major transformation, and it’s all about making your crypto journey smoother and more user-friendly.
The Accounts feature in the AXS App is getting a significant makeover. Managing your assets and transactions is about to become a breeze. With the new update, you can now send tokens directly from your Portfolio. It’s all about convenience and simplicity. Just a tap, and your crypto is on its way!
Importing your account into the AXS App is getting even more seamless. We’ve fine-tuned the process to make it as easy as possible. All you need to do is bring your key, and AXS will take care of the rest. No more headaches trying to figure out the import process.
If you’ve been using external exchanges or you’re new to AXS and need to add tokens, we’ve got you covered. The AXS App allows you to easily add tokens from these external exchanges. It’s all about flexibility and making your crypto experience as hassle-free as possible.
Reliability is crucial in the world of crypto, and we’ve got your back. With this update, you can expect a higher transaction success rate. That means fewer headaches and more peace of mind. Your transactions will be smoother than ever before. Are you new to AXS or running low on tokens? No worries! The user-friendly interface connects you to external exchanges for a quick boost. We’re all about helping you get started or back on track with your crypto journey.
We value your feedback, and that’s why we’re not stopping at this update. The AXS team is committed to continuously improving the user experience based on your suggestions. We want to ensure that the AXS App is the perfect tool for the AXS community. The AXS App is evolving, and we’re excited to share these fantastic updates with you. Keep an eye on this space because we’re not done yet. More advancements are on the horizon, and they’ll be driven by your feedback and needs. Your AXS journey just got easier, and we can’t wait to see where it takes you. Watch this space for more exciting developments!
In summary, it’s been an eventful week in the world of cryptocurrency. From high-stakes legal proceedings to eco-friendly Bitcoin mining, innovative gold tokenization by a major financial institution, and big changes in the AXS App ecosystem, the crypto space continues to evolve and surprise us. Stay tuned for more exciting developments in the next edition of This Week in Crypto!
