2023-04-03

🐝 All the Bees: Bitcoin, Britain and Binance

April 03, 2023

Howdy folks,

Is it sunny where you are? ☀️Has Spring Sprung? 🐣

Truckloads of interesting things are going on in crypto today.

Without further ado, let's get cracking.

♻️ It's Not Just Bitcoin's Candles that Are Green
🇬🇧 British Banks Go on the Attack
💵 $1 Billion Lawsuit Handed to Binance

Bitcoin Is Getting Greener, and Not Just the Candles

The old Bitcoin haters' complaint of “it’s bad for the environment” is becoming less and less relevant. Yes, mining Bitcoin uses a lot of energy, but savvy mining companies have been utilizing more and more green energy.

According to ClimateTech Investor Daniel Batten, Bitcoin mining intensity has dropped to its lowest-ever level.

He predicts that Bitcoin will halve its emissions per KWh within the next three and a half years, claiming that:“No other industry is reducing emission intensity as fast”With most Bitcoin miners now using sustainable green energy and more energy-efficient rigs, the last bastion of the enviro-hate is being torn down.Can you smell mass adoption?

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UK Banks Hating on Crypto, Shocker!

It’s not just in the US where banks are fighting crypto adoption; the legacy banks of the UK also seem to have their nose out of joint.

Banks generally hate the idea of crypto because it threatens their business model.

They give the old “we're protecting our customers” argument and the cliche money laundering concerns. But the reality is that banks make money from other people’s money, and crypto threatens their profits.

Old money is scared…Good!!!

Even Prime Minister Rishi Sunak wants the UK to become a crypto hub, but the banks are making the crypto business very difficult.

Many companies are looking to other European countries with more forward-thinking crypto perspectives.

So yeah, it’s not just the US shooting itself in the foot!

Binance Hit with Another Lawsuit...Coincidence or Attack?

It seems like Binance head honcho CZ is going all Pokemon and trying to collect them all!

The latest of such lawsuits is BIG. $1 billion big!Moscowitz Law Firm and Boies Schiller Flexner filed a class action lawsuit against Binance, its CEO, Changpeng ‘CZ’ Zhao, and three crypto influencers — basketball star Jimmy Butler, Graham Stephan, and Ben ‘Bitboy’ Armstrong.The lawsuit is filed on behalf of three plaintiffs; two Florida residents and a person from California.They claim to have lost money while trading crypto promoted by Binance and the influencers. The complaints suggested the case could have millions of people eligible for damages.So they traded, lost out, and now want mommy to fix it…It's either that or something way shadier, like a coordinated attack on Binance by scared old money!What do you think?