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Added on the 17/07/2019 06:37:23 - Copyright : Wochit
Engineering enthusiasts in Irkutsk have transformed an machine which aids in mining crytocurrency into a power generator for private housing with their project called Cryptohouse. 'Cryptohouse' is a new generator that turns the heat produced by Bitcoin miners into private heating energy for the monthly cost of about $430. Irkutsk has some of the cheapest electricity in Russia, but it also gets very cold in Siberia in the winter, so the new invention from Cryptohouse provides the double benefit of warmth and income.
The first exchange market for cryptocurrencies was opened in Moscow on Thursday where real people can come in and meet in person before trading. The authors of the project hope that the exchange will provide a legal way of receiving funds from abroad without withdrawing foreign money from Russia. The exchange has even introduced its own currency called CryptoSterling which will be backed by silver.
Zimbabwe's central bank launches a new currency backed by gold, as it seeks to tackle sky-high inflation and stabilise the country's long-floundering economy. The ZiG, short for Zimbabwe Gold, will replace the Zimbabwean dollar which has tumbled in value over the past year, pushing inflation through the roof, Reserve Bank governor John Mushayavanhu says. IMAGES
The US Justice Department announces it is fining Binance, the world's biggest cryptocurrency exchange, a total of $4.3 billion over violations of anti-money laundering and sanctions laws. "This is one of the largest penalties we've ever obtained from a corporate defendant in a criminal matter," US Attorney General Merrick Garland tells reporters. SOUNDBITE
Signs show the dollar's exchange rate against the Argentine peso, after the US currency broke through the symbolic 1,000 peso mark on Argentina's parallel market, as citizens scramble to dump the currency two weeks before a presidential election. IMAGES
The parents of disgraced crypto star Sam Bankman-Fried; along with the prosecution's first witness, Marc-Antoine Julliard; and prosecution lawyer Nicolas Roos are seen outside the courthouse during the second day of the trail against the former CEO of one of cryptocurrency's biggest exchanges. A jury will determine if Sam Bankman-Fried committed massive fraud by stealing billions of dollars from clients. IMAGES
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