A new organization, the National Cryptocurrency Association (NCA), was launched on Wednesday looking to establish itself as an impartial source of information on cryptocurrencies and their impact on the broader financial landscape.

Defunct cryptocurrency exchange Mt. Gox has transferred over $1.2 billion worth of bitcoin to a cold wallet and a new wallet in one of the largest on-chain activities since its bankruptcy in 2014.

Belorussian President Alexander Lukashenko has instructed the country’s energy ministry to explore the development of the country’s cryptocurrency mining industry to monetize the country’s excess energy supplies.

Top stories in the Crypto Roundup today:

• National Cryptocurrency Association Launches to ‘Demystify’ Crypto
• Mt. Gox Transfers Over $1.2 Billion in Bitcoin Ahead of October Repayment Deadline
• Belarusian President Instructs Energy Ministry to Explore Cryptocurrency Mining

National Cryptocurrency Association Launches to ‘Demystify’ Crypto

A new organization, the National Cryptocurrency Association (NCA), was launched on Wednesday looking to establish itself as an impartial source of information on cryptocurrencies and their impact on the broader financial landscape.

The NCA stated its mission is to “demystify crypto,” which it plans to do through unbiased explanations into how the cryptocurrency ecosystem works. The group was seeded with $50 million in funding from Ripple, with Ripple’s Chief Legal Officer, Stuart Alderoty, serving as the organization’s president.

"We’re giving a voice to users from all walks of life and serving as a guide for how to use crypto responsibly,” Alderoty said.

Mt. Gox Transfers Over $1.2 Billion in Bitcoin Ahead of October Repayment Deadline

Defunct cryptocurrency exchange Mt. Gox has transferred over $1.2 billion worth of bitcoin to a cold wallet and a new wallet in one of the largest on-chain activities since its bankruptcy in 2014.

These major wallet transfers are often associated with the consolidation of holdings for eventual distribution or sale on cryptocurrency exchanges. Mt. Got was the world’s leading crypto exchange before its collapse, at one point handling over 70% of all BTC trades.

After hackers stole around 740,000 BTC (worth over $15 billion at today’s prices) the exchange collapsed. Trustees put together a repayment plan with an October 31 deadline.

Belarusian President Instructs Energy Ministry to Explore Cryptocurrency Mining

Belorussian President Alexander Lukashenko has instructed the country’s energy ministry to explore the development of the country’s cryptocurrency mining industry to monetize the country’s excess energy supplies.

The move, revealed in a report from local news outlet BelTA, saw Lukashenko ask the country’s newly appointed minister of energy Alexei Kushnarenko to look into whether cryptocurrency mining would be “profitable for us” as the country has “excess electricity.”

The directive to explore cryptocurrency mining comes after Lukashenko formed his new government, and stated a priority was to modernize the country’s 5,700-kilometer power grid.

“The most important thing is to upgrade the power grid infrastructure taking into account the growing demand for electricity from households and economy,” he said. 

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.