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Third-largest Bitcoin mining pool ‘likely’ censored OFAC-sanctioned transactions

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One of Bitcoin’s (BTC) core value propositions is it being a censorship-resistance form of money, not subject to arbitrary rule-making. With Bitcoin, anyone who can afford the network fees is supposed to be able to transact permissionlessly. However, a report from pseudonymous 0xB10C , a Bitcoin developer and owner of mining pool-observer , found data that suggests F2Pool has censored OFAC- sanctioned transaction s. F2Pool is the third-largest Bitcoin mining pool, responsible for 13.7% of all mined blocks in the last 12 months, according to the mempool.space ranking. Essentially, one out of every seven BTC blocks could be mined under a censorship regime if F2Pool actively starts to filter sanctioned transactions. It is also important to understand that both Foundry USA and AntPool, the two largest mining pools, require KYC from their miners. The identification process makes it more likely that some sort of compliance could happen in the future. Cryptocurrency Wha...

Tether to deploy $500 million in Bitcoin mining to become the largest miner

Tether, the issuer of the largest stablecoin by market cap (USDT), plans to invest half a billion dollars to establish itself as a relevant player in Bitcoin (BTC) mining . This bold move aims to propel Tether to the forefront of the Bitcoin mining industry. As reported by Bloomberg on November 16, Tether intends to invest the funds over the next six months. The stablecoin giant seeks to diversify its revenue streams and reduce market dependence on the USDT token. This strategic expansion presents new opportunities amidst the ongoing scrutiny over stablecoins. Interestingly, BlackRock Inc. (NYSE: BLK) mentioned USDT in its risk disclosure for the spot Bitcoin ETF. This described exposure is one example of the challenges Tether faces with its stablecoin’s reputation and business dependency. The company’s foray into Bitcoin mining follows the industry’s increased attention to the sustainability of mining operations. Tether asserts its commitment to environmentally friendly ...