The Week in Crypto – Bitcoin mining, FTX and JPMorgan

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This week in crypto we’ve seen a partial crypto mining ban in New York and a JPMorgan crypto wallet trademark, as well as the latest on the FTX fallout. Ready thrusters!

No. 3 – New York Bitcoin Mining Moratorium Signed into Law

New York state governor Kathy Hochul this week signed a moratorium on using fossil fuels to power Bitcoin mining operations in the region. The bill, which aimed to examine the full impact of Bitcoin mining on the environment in the state, passed a Senate vote in June, but strong lobbying from crypto firms had led to suggestions that Hochul may not sign it.

She did so this week, marking a two-year suspension of growth for crypto firms.

No. 2 – JPMorgan Awarded Crypto Wallet Trademark

JPMorgan was this week granted a trademark for a crypto wallet, showing a further push into the crypto arena for the bank whose CEO hates crypto. The trademark, which was filed back in July 2020 and was approved last week, appears to be a wide-ranging offering, including crypto payment processing, virtual currency transfer and exchange, and other financial services.

It marks another example of the bank coming full circle on crypto, and shows that their confidence in crypto was carefully timed.

No.1 – FTX Lawsuits (and Movie Deals) Roll In

This week we saw two more FTX lawsuits land, taking the total to three so far, with potential criminal lawsuits also ahead for Bankman-Fried and the other members of his polyamorous hippie commune.

Not only this, but the FTX story is also set to be retold in a book, Amazon TV series and possibly a film too, with deals being fervently done to secure the rights to the story. Just please don’t show a sex scene…