Can you mine crypto with a Nintendo Switch?

The crypto currency market is well known for being a live technological innovation and experimentation hub. Creativity is one of the few limits imposed on enthusiasts eager to experiment and show the world their solutions, which applies to crypto mining. In particular, the Monero (XMR) community is usually seen experimenting with mining hardware. Recently, an anonymous miner posted a Nintendo Switch setup on the subreddit r/MoneroMining .  It is possible to see a Monero mining interface running in the same 2017 Nintendo console that one day has probably hosted Super Mario. The Nintendo Switch appears to be producing 230 hashes per second in the picture. Nintendo Switch console mining Monero (XMR). Source: r/MoneroMining Interestingly, RandomX, the Monero mining algorithm, allows for alternative experiments like this due to being ASIC-resistant. Miners can use simple CPUs or gaming devices to run the algorithm and try their luck at block discovery while supporting network security

The FSB Recommends More Supervision for the Crypto Industry

According to the FSB, there is a need for increased regulation in the crypto industry. Multifunction crypto firms are those that combine trading and other activities, said the FSB. The FSB noted that collapses in multifunction crypto firms could destabilize traditional finance. The Financial Stability Board (FSB), a global organization that regulates and makes recommendations regarding the global financial system, has said there is a need for increased regulation in the crypto industry. According to its recent report, the monitoring organization noted that increasing regulatory measures would tackle the potential destabilization of the wider financial sector by crypto firm collapses. The report mentioned multifunction crypto-asset intermediaries (MCIs), which are firms that offer combinations of crypto-asset services that are typically conducted by separate legal entities in traditional finance. Binance, FTX, and Coinbase are examples of MCIs mentione

Arthur Hayes slams TradFi double standards

In a blog post, Hayes condemned the TradFi industry and the double standards he says relate to crypto, CZ and Binance. BitMEX founder Arthur Hayes has argued that the treatment of Changpeng Zhao and Binance highlights a cunning set of double standards that unfairly targets crypto companies. Hayes noted the severity of the penalties imposed on Zhao and Binance as evidence of a contradictory stance by the U.S. DOJ and other international regulators. Over the last several years, Hayes notes, regulators around the world have witnessed massive scales of money laundering and mismanagement by TradFi banks like Goldman Sachs, HSBC and Credit Suisse. Obviously, the treatment of CZ and Binance is absurd, and only highlights the arbitrary nature of punishment at the hands of the state. Arthur Hayes Hayes mentions specifically so-called “too big to fail banks” like HSBC and Goldman Sachs, who have repeatedly been fined and charged with money laundering and other forms of malicious finan

Singapore central bank chief sees no place for private crypto in the monetary scene

Ravi Menon says the country is instead clearing a path for CBDCs and regulated stablecoins. There will not be a place for private cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in the monetary scene as many of them fail the “fundamental tests of financial services,” Monetary Authority of Singapore’s managing director Ravi Menon believes. Speaking at a panel discussion on the Future of Monetary System on Nov. 28, 2023, Menon said that private crypto currencies “have miserably failed the test of money because they can’t keep value.” “Nobody keeps their life savings in these things. People buy and sell these things to make a quick buck.” Ravi Menon While Menon didn’t specifically name which crypto currencies will be barred from the market, he suggested that a future monetary system will be based only on central bank digital currencies (CBDCs), tokenized bank liabilities and “well-regulated” stablecoins, without going into details. You might also like: Singapo

Ethereum: Vitalik Buterin Wants to Redesign the Network

One of the most important figures in the digital asset sector, Ethereum co-founder Vitalik Buterin has shared his intention to redesign the entire network. Indeed, Buterin spoke in Turkey where he discussed plans that would bring widespread changes to users across the network. Moreover, Buterin had outlined an overall strategy that he would seek to employ for those changes. Specifically, they would target an enhancement to the staking of ETH, and performance issues that have occurred regarding addresses. The latter has notably been an issue for the network in years past. Source: CoinDesk Also Read: Vitalik Buterin Says He Hasn’t Sold Ethereum (EHT) Since 2018 Buterin Seeking to Implement Widespread Changes to Ethereum Within the mainstream perception of digital assets, two tokens reign supreme. Specifically, Bitcoin (BTC) and Ethereum (ETH) have become staples for the industry. Subsequently, those connected to the assets have become some of its most important entities. N

Cardano could hit a new yearly high before end of 2023

The past month has seen Cardano (ADA) experience a substantial rally, mirroring the broader crypto market‘s momentum.  The catalyst behind this surge stems in part from Bitcoin’s (BTC) lead in the rally, fueled by mounting expectations that US regulators are on the brink of approving a spot BTC exchange-traded fund (ETF).  Additionally, the price rise was also boosted by the Cardano Summit 2023, a prominent crypto event that took place from November 2 to 4, as well as the recent announcement by Cardano founder Charles Hoskinson, in which he revealed plans to move towards a fully decentralized governance structure. This positive sentiment has injected a fresh wave of optimism into the market, propelling ADA to a crucial demand area. According to a prominent analyst, maintaining this position could pave the way for further gains, potentially toward yearly highs for the popular altcoin. ADA must uphold this price range, analyst says Cryptocurrency Cardano founder slam

Tron infrastructure becomes popular among global terrorists

The Tron blockchain has gained popularity among Iran-backed militant groups, overtaking the Bitcoin network. Faster and cheaper than Bitcoin, Tron has overtaken its rival as a platform for cryptocurrency transfers linked to groups designated as terrorist organizations by Israel, the United States and other countries, according to Reuters. Journalists analyzed cryptocurrency seizures by Israeli security services since 2021. The results showed a sharp increase in attacks on Tron wallets and a decrease in Bitcoin wallet seizures. “Earlier it was Bitcoin and now our data shows that these terrorist organizations tend to increasingly favor Tron.” Mriganka Pattnaik, CEO of New York-based blockchain analysis firm Merkle Science In total, Israel’s National Bureau of Counter-Terrorism Financing (NBCTF) froze 143 Tron wallets between July 2021 and Oct. 2023, wallets it believed were associated with a “designated terrorist organization” or used for a “serious terrorist crime.” You