- Co-founder of failed Three Arrows Capital promotes new venture in Hong Kong.
- BlackRock’s Spot Bitcoin ETF hits $2 billion in assets under management for the first time.
- The energy consumption of crypto mining could increase by 30% by 2026, according to the report.
Zhu says she slept well during the Singapore lock-up
Hsu Tzu, co-founder of failed cryptocurrency hedge fund Three Arrows Capital, said his time in a Singaporean prison was “enjoyable”.
Zhu, who served three months in prison for failing to cooperate with Singaporean authorities, began promoting a new exchange, OPNX, which registered an office in Hong Kong. South China Morning Post report.
“Obviously no one wants to go to jail,” Zhu said in the article. video clip Widely shared by X. “But overall I think it’s a really fun experience.” He said the video will be part of a future podcast.
“I had the best sleep of my life in prison,” he added.
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Zhu co-founded OPNX last year with Kyle Davis, another co-founder of Three Arrows, and Mark Lam, former CEO of failed cryptocurrency derivatives exchange Coinflex.
OPNX registered an office in Hong Kong last May, ahead of new cryptocurrency regulations that came into effect in June and gave exchanges a year to secure a license. SCMP Said.
BlackRock’s IBIT challenges total assets under management of $2 billion for the first time
BlackRock’s iShares Bitcoin ETF (IBIT) is the first new spot Bitcoin product to reach $2 billion in assets under management. coin desk report.
Fidelity’s WiseOrigin Bitcoin Fund will likely be the next fund to reach $2 billion in assets under management, but it fell just short of the mark over the weekend.
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Cryptocurrency mining energy consumption could increase by 30% by 2026
The International Energy Agency said in a report that it expects electricity consumption from cryptocurrency mining and artificial intelligence to increase by 30% by 2026, with cryptocurrencies and related activities reaching the level of energy use in Japan.
According to the report, Bitcoin mining consumption in 2023 was 120 TWh, up from 110 TWh in 2022. According to the report, by 2026, crypto mining consumption is expected to reach 160 TWh.
Virtual currency market movements
- Bitcoin fell 0.06% today to $38,467.60.
- Ethereum rose 0.05% today to $2,088.04.