Ethereum

Gary

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/global-crypto-scene-nigeria-detains-binance-leaders-ethereum-etf-prospects-decline-bitfarms-boosts-miner-count" rel="noopener noreferrer nofollow">Global Crypto Scene: Nigeria Detains Binance Leaders, Ethereum ETF Prospects Decline, Bitfarms Boosts Miner Count</a><br></p>
<p style="text-align: justify">In Nigeria, two top Binance executives have been detained, a situation currently casting a shadow over the cryptocurrency exchange’s operations. These detentions come in the wake of accusations that Binance’s activities have negatively impacted the Nigerian currency. Meanwhile, the prospects for the approval of an <a href="https://en.bitcoinhaber.net/ethereums-technical-analysis-a-close-look-at-support-and-resistance-levels" rel="noopener noreferrer nofollow">Ethereum</a> ETF by May are dwindling, as regulatory silence suggests a lack of support. Eric Balchunas, a Bloomberg analyst, has expressed skepticism over the approval, citing various factors, including SEC Chairman Gary Gensler’s perspective on Ethereum as a <a href="https://en.bitcoinhaber.net/venus-protocol-denies-major-hack-claims-on-bnb-chain" rel="noopener noreferrer nofollow">security</a>.</p>
<h2 id="ethereum-etf-approval-odds-dip">Ethereum ETF Approval Odds Dip</h2>
<p style="text-align: justify">The silence from the SEC is seen as an ominous sign for the approval of Ethereum-based exchange-traded funds, as hopes for a positive decision by May fade. The SEC’s lack of response is interpreted as a reluctance to set a precedent for Ethereum, which the SEC chairman might view as a security rather than a commodity, a category reserved for assets like <a href="https://en.bitcoinhaber.net/bitcoin-strategist-efloud-rebalances-trading-stance" rel="noopener noreferrer nofollow">Bitcoin</a>.</p>
<h2 id="bitfarms-expands-ahead-of-bitcoin-halving">Bitfarms Expands Ahead of Bitcoin Halving</h2>
<p style="text-align: justify">In preparation for the anticipated Bitcoin halving event, the cryptocurrency mining firm Bitfarms has strategically expanded its mining equipment inventory. It has invested in a significant number of ASIC miners with the expectation that hardware prices will surge as the halving event approaches, a cycle that traditionally impacts Bitcoin’s supply and market dynamics.</p>
<p style="text-align: justify">Bitfarms’ move to increase its mining capacity by purchasing 51,908 additional ASIC miners is a notable development in the industry. This expansion is an attempt to stay ahead in the competitive mining landscape and capitalize on the changes expected from the halving event.</p>
<p style="text-align: justify">Overall, these developments reflect a tumultuous period for the cryptocurrency sector, as it navigates regulatory challenges, market fluctuations, and the operational demands of mining digital assets.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/global-crypto-scene-nigeria-detains-binance-leaders-ethereum-etf-prospects-decline-bitfarms-boosts-miner-count" rel="noopener noreferrer nofollow">Global Crypto Scene: Nigeria Detains Binance Leaders, Ethereum ETF Prospects Decline, Bitfarms Boosts Miner Count</a></h5>

Global Crypto Scene: Nigeria Detains Binance Leaders, Ethereum ETF Prospects Decline, Bitfarms Boosts Miner Count

Table of Contents

BH NEWS

Other articles published on Mar 12, 2024

Joe Biden's Eyes on Bitcoin Taxes! Pay Attention to Cryptocurrency Details in the 2025 Budget!

Bitcoin Price Fluctuations: Causes and Market Impact

BNB rises 50% in 7 days, smashes $500 on the first try

Bitcoin hits new all-time highs, surpassing $72,000

Court limits SEC use of new cases in Binance crypto battle

Bitcoin Braces for Shortage as ETFs Surge in Popularity

Join our free newsletter for daily crypto updates!