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Blockchain and the world’s growing plastic problem

Everything makes its way to the sea, and none more so than plastics. There are now five floating plastic islands in different oceans across the world, with the largest island even having a name, the Great Pacific Garbage Patch, which is three times the size of France. Lying between California and Hawaii, it is the world’s biggest ocean waste repository, with 1.8 billion pieces of floating plastic that kill thousands of marine animals each year.

Of course, we now know that 35% of waste originates from wealthy countries and 50% of this waste is exported to developing countries. At the same time, 70% of developing countries mismanage their own waste and lack the infrastructure to collect and recycle waste. Finally, 90% of all plastic waste enters the oceans through rivers, mostly through a few hundred rivers in Asia, Africa and Latin America.

Many projects have sprung up looking to tackle the problem of plastic pollution at the end of its journey. On Bitcoin Beach in El Salvador, one of the projects funded by Bitcoin philanthropists is the collection of plastics in the river before they reach the sea. 

Plastiks.io is another project that addresses the end games, identifying credible recycling and cleanup projects typically in developing countries that are funded by business or philanthropic individuals in the west.

Canada-based Plastic Bank also works to incentivize stewards to collect plastic from the oceans and, to date, claims that its Ocean Stewards have stopped more than 64 million kilograms of plastic from entering the ocean.


Blockchain and the world’s growing plastic problem

Everything makes its way to the sea, and none more so than plastics. There are now five floating plastic islands in different oceans across the world, with the largest island even having a name, the Great Pacific Garbage Patch, which is three times the size of France. Lying between California and Hawaii, it is the world’s biggest ocean waste repository, with 1.8 billion pieces of floating plastic that kill thousands of marine animals each year.

Of course, we now know that 35% of waste originates from wealthy countries and 50% of this waste is exported to developing countries. At the same time, 70% of developing countries mismanage their own waste and lack the infrastructure to collect and recycle waste. Finally, 90% of all plastic waste enters the oceans through rivers, mostly through a few hundred rivers in Asia, Africa and Latin America.

Many projects have sprung up looking to tackle the problem of plastic pollution at the end of its journey. On Bitcoin Beach in El Salvador, one of the projects funded by Bitcoin philanthropists is the collection of plastics in the river before they reach the sea. 

Plastiks.io is another project that addresses the end games, identifying credible recycling and cleanup projects typically in developing countries that are funded by business or philanthropic individuals in the west.

Canada-based Plastic Bank also works to incentivize stewards to collect plastic from the oceans and, to date, claims that its Ocean Stewards have stopped more than 64 million kilograms of plastic from entering the ocean.


Blockchain and the world’s growing plastic problem

Everything makes its way to the sea, and none more so than plastics. There are now five floating plastic islands in different oceans across the world, with the largest island even having a name, the Great Pacific Garbage Patch, which is three times the size of France. Lying between California and Hawaii, it is the world’s biggest ocean waste repository, with 1.8 billion pieces of floating plastic that kill thousands of marine animals each year.

Of course, we now know that 35% of waste originates from wealthy countries and 50% of this waste is exported to developing countries. At the same time, 70% of developing countries mismanage their own waste and lack the infrastructure to collect and recycle waste. Finally, 90% of all plastic waste enters the oceans through rivers, mostly through a few hundred rivers in Asia, Africa and Latin America.

Many projects have sprung up looking to tackle the problem of plastic pollution at the end of its journey. On Bitcoin Beach in El Salvador, one of the projects funded by Bitcoin philanthropists is the collection of plastics in the river before they reach the sea. 

Plastiks.io is another project that addresses the end games, identifying credible recycling and cleanup projects typically in developing countries that are funded by business or philanthropic individuals in the west.

Canada-based Plastic Bank also works to incentivize stewards to collect plastic from the oceans and, to date, claims that its Ocean Stewards have stopped more than 64 million kilograms of plastic from entering the ocean.


Crypto.com CEO addresses whereabouts of $1B in stablecoins sent to FTX

CEO Marszalek says the firm has recovered much of the funds and has less than $10M in exposure to FTX.

Bitcoin miner Canaan scales operations despite low earnings, CEO says

Chinese Bitcoin mining firm Canaan posted a 90% over-the-quarter decrease in net income in Q3 2022, but it’s not the end of its business.

Crypto.com's CRO token is in trouble but a 50% price rebound is in play

Crypto.com’s native token Cronos (CRO) is showing restraint on Nov. 14 against mounting sell-pressure building in the wake of the FTX’s dramatic collapse last week. Now, the CRO/USD pair is eyeing a watershed price recovery.

On Nov. 14, CRO’s price wobbled between profits and losses, trading around $0.069 a day after crashing to $0.05, its lowest level since April 2020 — that’s a 60% price decline from November’s peak of around $0.178.

CRO/USD weekly price chart. Source: TradingView

CRO funding rate drops to -3%

The period of CRO’s price decline occurred alongside a sharp drop in the token’s perpetual futures funding rates.

Funding rates are recurring payments made by traders based on the difference between the prices in the futures and the spot market. A positive funding rate means bullish traders (long positions) pay bearish traders (short positions), representing their confidence about a price rally.

Conversely, a negative funding rate means short traders pay long traders to keep their positions open. On Nov. 14, CRO’s funding rates on Huobi and OKX dropped to minus 3%, showing traders are extremely bearish on the token.

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Crypto.com’s CRO is in trouble, but a 50% price rebound is in play

Crypto.com’s native token Cronos (CRO) is showing restraint on Nov. 14 against mounting sell-pressure building in the wake of the FTX’s dramatic collapse last week. Now, the CRO/USD pair is eyeing a watershed price recovery.

On Nov. 14, CRO’s price wobbled between profits and losses, trading around $0.069 a day after crashing to $0.05, its lowest level since April 2020 — that’s a 60% price decline from November’s peak of around $0.178.

CRO/USD weekly price chart. Source: TradingView

CRO funding rate drops to -3%

The period of CRO’s price decline occurred alongside a sharp drop in the token’s perpetual futures funding rates.

Funding rates are recurring payments made by traders based on the difference between the prices in the futures and the spot market. A positive funding rate means bullish traders (long positions) pay bearish traders (short positions), representing their confidence about a price rally.

Conversely, a negative funding rate means short traders pay long traders to keep their positions open. On Nov. 14, CRO’s funding rates on Huobi and OKX dropped to minus 3%, showing traders are extremely bearish on the token.

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Elon Musk says BTC 'will make it' — 5 things to know in Bitcoin this week

Bitcoin may be bruised, but big names are keeping the faith as data shows investors have seized the chance to "buy the dip" on BTC.

Elon Musk says BTC 'will make it' — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week on shaky ground after its lowest weekly close in two years.

The largest cryptocurrency, considerably weakened after last week’s implosion of exchange FTX, continues to grapple with the fallout.

In what is becoming an increasingly erratic market, investors are unsure what will happen next as more firms sound the alarm over solvency and regulators step up investigations in the crypto space.

The mood among the majority is intensely fearful, and even some of the industry’s best-known names warn that it has been set back several years as a result of last week’s events.

At the same time, for Bitcoin, it is business as usual. FTX is not the first such debacle it has weathered, and under the hood, the network remains as robust as ever.

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El Salvador President Bukele says Bitcoin is ‘the opposite‘ of FTX

Despite the backlash he previously received for purchasing BTC as markets crashed, Bukele cited the recent FTX collapse to explain why Bitcoin is different.

US lawmaker blames 'billionaire crypto bros' for delayed legislation

The collapse of FTX has raised alarm bells across Washington D.C.

US lawmaker blames 'billionaire crypto bros' for delayed legislation

The collapse of FTX has raised alarm bells across Washington D.C.

AAX reiterates withdrawal halt is unrelated to FTX contagion

In a previous post on Twitter, the AAX exchange said it has no financial exposure to FTX and its affiliates.

Exchange outflows hit historic highs as Bitcoin investors self-custody

Confidence in centralized exchanges appears to be waning as Bitcoin flows into self-custody wallets at near-record levels.

CZ and Saylor urge for crypto self-custody amid increasing uncertainty

Industry heavyweights have urged crypto investors and traders to self-custody their crypto assets amid the significant market uncertainty brought on by the collapse of FTX. 

In a Nov. 13 tweet to his 7.6 million followers, Binance CEO Changpeng “CZ” Zhao pushed the crypto community to store their own crypto via self-custody crypto wallets.

“Self custody is a fundamental human right. You are free to do it anytime. Just make sure you do do it right,” he said, recommending investors to start with small amounts in order to learn the technology and tooling first:

Speaking to Cointelegraph during the Pacific Bitcoin conference on Nov. 10-11, MicroStrategy executive chairman Michael Saylor also discussed the merits of self-custody given the current market environment.

Saylor suggested that self-custody not only provides investors with property rights, it also prevents powerful actors from corrupting the network and its participants:

CZ and Saylor urge for crypto self-custody amid increasing uncertainty

Binance CEO Changpeng Zhao said self-custody is a “fundamental human right,” while Michael Saylor said self-custody is necessary to prevent powerful actors from accumulating and abusing power.

Payments company Curve bids for BlockFi's 87,000 credit card customers

A Curve spokesperson has confirmed they have been in negotiations to acquire BlockFi's credit card program's customers since Nov. 12.

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