The mayor of Rio de Janeiro announced plans to allocate 1% of the city’s treasury into bitcoin. On the same panel, the city finance secretary said the administration is also considering a 10% discount on property tax in Brazil for payments made in bitcoin.
Bitmain has released plans for a new Antminer S19 that combines liquid cooling technology along with increased hashpower. The specialized liquid can reduce heat, power consumption and noise stemming from the computers, while potentially prolonging the life of the rig.
Elevated energy prices and power outages in Kosovo have led to a government ban on Bitcoin mining. Kosovo reportedly confiscated 429 devices used to mine crypto throughout the first few days of January.
Hong Kong-based Crypto.com halted all deposits and withdrawals Monday in order to investigate “unauthorized activity”. Crypto traders reported suspicious transactions on the platform, therefore customers will need to reset security measures.
U.S. stocks are off to a turbulent start to the year. More than 220 U.S.-listed companies with market caps above $10 billion are trading down at least 20% from 2021 highs.
European shares recovered from Friday's losses on Monday with investors attentive to company earnings. Stock market moves in Asian trading were small, while economic data from China was mixed: industrial output ticking up, while retail fell short of expectations.
China’s central bank cut its key interest rate to help lift an economy that has lost momentum in the face of virus outbreaks and a slump in real estate. This is the first rate cut in almost two years.
Fresh projections from the U.N. predict it will take at least two years before global unemployment falls back to pre-pandemic levels. Joblessness in poor countries could remain elevated, even while labor markets tighten in wealthier nations.
After a record year for home buying in Canada, just under 86,000 active listings remain available. Benchmark home prices rose 2.5% in December from the previous month and were up a record 26.6% from the year before.