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SinVerse Secures Strategic Partnership And Investment From DWF Labs To Drive Web-3 Gaming Industry

10 Apr 2023

After the New York Times was accused of writing favorable pieces about disgraced FTX co-founder Sam Bankman-Fried and inviting him to speak at the news outlet’s Dealbook Summit, it is once again being criticized for publishing a “hit piece” about bitcoin mining. The article’s authors claim that bitcoin mining is harmful to the environment, while the editorial also alleges that one of the authors went to great lengths to investigate the story. However, bitcoin proponents disagree with the article’s premise and maintain that the Times reporter did not use current data. They also argue that the story was one-sided, with practically zero opposing viewpoints.

The New York Times (NYT) is getting berated on social media after several well-known bitcoin proponents claimed that the publication published a one-sided article to promote propaganda. This is not the first time the Times has been accused of lacking journalistic integrity and being a mouthpiece for the establishment. In mid-November 2022, the publication was accused of writing a “puff piece” about former FTX CEO Sam Bankman-Fried (SBF) and inviting him to speak at the company’s Dealbook Summit event. On April 10, NYT reporter Gabriel Dance published an editorial titled “The Real-World Costs of the Digital Race for Bitcoin.”

In his editorial, Dance focuses on bitcoin mining in the United States and claims that 85% of U.S.-based miners use fossil fuels for energy. The report also discusses the state of Texas and the 34 bitcoin mines located in the region. Although Dance misspells the name of one of the Texas Bitdeer bitcoin mines, his findings suggest that bitcoin mining is environmentally unfriendly and “in some areas, this has led prices to surge.” However, despite the author’s claims, some bitcoin enthusiasts have denounced the article as propaganda. CEO and co-founder of the Satoshi Act Fund, Dennis Porter, was among those who criticized the Times article.

“The NYT hit piece dropped and it’s everything we expected. Sad to see the NYT attack bitcoin mining despite the incredible outreach by our community to engage and share the other side of the story,” Porter said in a tweet. “Sometimes clicks are more important than the truth.” In another tweet, Porter emphasized that the “NYT couldn’t even take the time to fact-check the town where bitcoin mining is taking place. “It’s Rockdale, Texas, not Rockland. These are not serious people,” he added.

Alex Gladstein, chief strategy officer of the Human Rights Foundation, also criticized the NYT article for not mentioning the benefits of bitcoin.“The new NYT piece on mining is packed w/ misinfo, but the most staggering thing is that it doesn’t attempt to describe to the reader what bitcoin actually does worldwide,” Gladstein tweeted. “This is intentional. If you don’t understand bitcoin’s value, then of course you think it’s a waste of energy.” Others have found fault with the NYT’s and Dance’s methodology and data. For instance, bitcoin supporter Troy Cross opined that the methodologies of climate activist Daniel Batten and the NYT are “starkly different.”

Batten is an environmental, social, and governance (ESG) analyst, climate tech investor and well-known for his research on the environmental impact of bitcoin mining. After the NYT article was published, Batten also discredited the research done by the newspaper and the author. Batten asserts that the NYT article overstates the use of fossil fuels by a great deal and he argues that people “should have zero trust in the NYTimes article on bitcoin.” The researcher further claims that the emission levels quoted in the NYT article are “overstated on average by 81.7%.”

Batten also published a Twitter thread that picked apart the NYT article and argued that the editorial was full of “unsupported assertions.” The ESG analyst explained that the article did not cite researchers who spent thousands of hours understanding the technology. Moreover, the NYT data is not current and Batten declares that “bitcoin [mining] no longer uses mostly fossil fuel.” Batten also concludes that the Times article has no objective reference to previous bitcoin mining reports or how “bitcoin mining makes renewable operators economically viable.”

What is your opinion on the New York Times’ coverage of bitcoin mining and its environmental impact? Do you believe that the article was one-sided, or do you think that it accurately portrayed the issue at hand? Share your thoughts in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.

After the New York Times was accused of writing favorable pieces about disgraced FTX co-founder Sam Bankman-Fried and inviting him to speak at the news outlet’s Dealbook Summit, it is once again being criticized for publishing a “hit piece” about bitcoin mining. The article’s authors claim that bitcoin mining is harmful to the environment, while the editorial also alleges that one of the authors went to great lengths to investigate the story. However, bitcoin proponents disagree with the article’s premise and maintain that the Times reporter did not use current data. They also argue that the story was one-sided, with practically zero opposing viewpoints.

The New York Times (NYT) is getting berated on social media after several well-known bitcoin proponents claimed that the publication published a one-sided article to promote propaganda. This is not the first time the Times has been accused of lacking journalistic integrity and being a mouthpiece for the establishment. In mid-November 2022, the publication was accused of writing a “puff piece” about former FTX CEO Sam Bankman-Fried (SBF) and inviting him to speak at the company’s Dealbook Summit event. On April 10, NYT reporter Gabriel Dance published an editorial titled “The Real-World Costs of the Digital Race for Bitcoin.”

In his editorial, Dance focuses on bitcoin mining in the United States and claims that 85% of U.S.-based miners use fossil fuels for energy. The report also discusses the state of Texas and the 34 bitcoin mines located in the region. Although Dance misspells the name of one of the Texas Bitdeer bitcoin mines, his findings suggest that bitcoin mining is environmentally unfriendly and “in some areas, this has led prices to surge.” However, despite the author’s claims, some bitcoin enthusiasts have denounced the article as propaganda. CEO and co-founder of the Satoshi Act Fund, Dennis Porter, was among those who criticized the Times article.

“The NYT hit piece dropped and it’s everything we expected. Sad to see the NYT attack bitcoin mining despite the incredible outreach by our community to engage and share the other side of the story,” Porter said in a tweet. “Sometimes clicks are more important than the truth.” In another tweet, Porter emphasized that the “NYT couldn’t even take the time to fact-check the town where bitcoin mining is taking place. “It’s Rockdale, Texas, not Rockland. These are not serious people,” he added.

Alex Gladstein, chief strategy officer of the Human Rights Foundation, also criticized the NYT article for not mentioning the benefits of bitcoin.“The new NYT piece on mining is packed w/ misinfo, but the most staggering thing is that it doesn’t attempt to describe to the reader what bitcoin actually does worldwide,” Gladstein tweeted. “This is intentional. If you don’t understand bitcoin’s value, then of course you think it’s a waste of energy.” Others have found fault with the NYT’s and Dance’s methodology and data. For instance, bitcoin supporter Troy Cross opined that the methodologies of climate activist Daniel Batten and the NYT are “starkly different.”

Batten is an environmental, social, and governance (ESG) analyst, climate tech investor and well-known for his research on the environmental impact of bitcoin mining. After the NYT article was published, Batten also discredited the research done by the newspaper and the author. Batten asserts that the NYT article overstates the use of fossil fuels by a great deal and he argues that people “should have zero trust in the NYTimes article on bitcoin.” The researcher further claims that the emission levels quoted in the NYT article are “overstated on average by 81.7%.”

Batten also published a Twitter thread that picked apart the NYT article and argued that the editorial was full of “unsupported assertions.” The ESG analyst explained that the article did not cite researchers who spent thousands of hours understanding the technology. Moreover, the NYT data is not current and Batten declares that “bitcoin [mining] no longer uses mostly fossil fuel.” Batten also concludes that the Times article has no objective reference to previous bitcoin mining reports or how “bitcoin mining makes renewable operators economically viable.”

What is your opinion on the New York Times’ coverage of bitcoin mining and its environmental impact? Do you believe that the article was one-sided, or do you think that it accurately portrayed the issue at hand? Share your thoughts in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.

Dogecoin was consolidating in today’s session, following a volatile few days of trading last week. The meme coin rose by nearly 30% last Monday, before losing these gains as the week matured. Shiba inu was largely unchanged.

Dogecoin (DOGE) moved marginally higher on Monday, as prices began to settle following recent volatility.

Last Monday saw the meme coin jump by nearly 30%, hitting a four-month high in the process.

Since then, prices have fallen lower, with the meme coin hitting a bottom of $0.08204 earlier in today’s session.

DOGE/USD has gone on to reach a peak of $0.08383 on Monday, which came as the relative strength index (RSI) moved closer to a ceiling at 55.00.

At the time of writing, the index is tracking at 52.83, which comes after bulls rejected a breakout below a floor at 51.00.

Should the RSI move towards the 55.00 mark, there is a good chance that DOGE will be trading above $0.0850.

Shiba inu (SHIB) was largely unchanged to start the week, as the meme coin continued to consolidate on Monday.

Following a low of $0.00001085 on Sunday, SHIB/USD rose to a peak of $0.00001099 in today’s session.

As a result of the move, SHIB continues to trade below an interim resistance level of $0.00001100.

Looking at the chart, the price uncertainty comes despite a recent upwards cross between the 10-day (red) moving average, and its 25-day (blue) counterpart.

In addition to this, the RSI remains below a key ceiling at 50.00, which seems to be another reason for current volatility.

In order for bulls to recapture market sentiment, a breakout of these level will need to occur.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Doge, dogecoin, shib, shiba inu

Do you expect shiba inu to rally this week? Let us know your thoughts in the comments.

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals

A bitcoin ATM operator has been indicted in New York for running an illegal business "marketed towards individuals engaged in criminal activity." The district attorney in charge described: "Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk ... read more.

Dogecoin was consolidating in today’s session, following a volatile few days of trading last week. The meme coin rose by nearly 30% last Monday, before losing these gains as the week matured. Shiba inu was largely unchanged.

Dogecoin (DOGE) moved marginally higher on Monday, as prices began to settle following recent volatility.

Last Monday saw the meme coin jump by nearly 30%, hitting a four-month high in the process.

Since then, prices have fallen lower, with the meme coin hitting a bottom of $0.08204 earlier in today’s session.

DOGE/USD has gone on to reach a peak of $0.08383 on Monday, which came as the relative strength index (RSI) moved closer to a ceiling at 55.00.

At the time of writing, the index is tracking at 52.83, which comes after bulls rejected a breakout below a floor at 51.00.

Should the RSI move towards the 55.00 mark, there is a good chance that DOGE will be trading above $0.0850.

Shiba inu (SHIB) was largely unchanged to start the week, as the meme coin continued to consolidate on Monday.

Following a low of $0.00001085 on Sunday, SHIB/USD rose to a peak of $0.00001099 in today’s session.

As a result of the move, SHIB continues to trade below an interim resistance level of $0.00001100.

Looking at the chart, the price uncertainty comes despite a recent upwards cross between the 10-day (red) moving average, and its 25-day (blue) counterpart.

In addition to this, the RSI remains below a key ceiling at 50.00, which seems to be another reason for current volatility.

In order for bulls to recapture market sentiment, a breakout of these level will need to occur.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Doge, dogecoin, shib, shiba inu

Do you expect shiba inu to rally this week? Let us know your thoughts in the comments.

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals

A bitcoin ATM operator has been indicted in New York for running an illegal business "marketed towards individuals engaged in criminal activity." The district attorney in charge described: "Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk ... read more.

PRESS RELEASE. SinVerse Studios, a trailblazing web-3 game studio, has secured a substantial seven digit investment deal led by DWF Labs to propel its platform’s growth and solidify its position as an industry leader. The partnership marks a significant milestone for SinVerse Studios, with DWF Labs providing strategic backing and support to accelerate the company’s ambitious plans for the future.

SinVerse Studios is revolutionising the gaming industry with the creation of the first-ever Mafia Metaverse on the Blockchain, featuring gameplay akin to the popular Grand Theft Auto (GTA) franchise. Since its launch in October 2021, SinVerse Studios has rapidly gained a massive community following and achieved a remarkable milestone with a highly successful land sale, generating $3.5 million in revenue.

With the strategic partnership and investment from DWF Labs, SinVerse Studios is poised to elevate its game to the next level with the pioneering development of the first-ever Web-3 Gaming console, The NFT Cube.

“We are thrilled to become lead investors and strategic partners for SinVerse Studios, supporting their vision of building one of the highest quality and most engaging metaverse projects with an impressive 18 months of development behind them”, – said Andrei Grachev, Managing Partner of DWF Labs. “We are excited to bring our expertise, capital, and strategic guidance to accelerate their growth and drive the future of the gaming industry”.

Rutherford Atayobo, Chief Operating Officer of SinVerse Studios, expressed enthusiasm for the partnership, stating: “We are thrilled to have partnered with one of the leading players in the Web-3 ecosystem. With their extensive connections and strategic backing, we believe we are well-positioned to become one of the biggest Web-3 projects in the space”.

This strategic partnership between SinVerse Studios and DWF Labs marks a significant milestone in the evolution of the Blockchain gaming industry. With DWF Labs’ unparalleled expertise and strategic support, SinVerse Studios is poised for exceptional growth, further solidifying the potential of Blockchain gaming as a mainstream category projected to be worth an estimated $375 billion.

About SinVerse

SinVerse is the pioneering Mafia Metaverse on the Blockchain, disrupting the gaming industry with innovative gameplay similar to the popular GTA franchise. With a rapidly growing community and successful land sales, SinVerse Studios is poised for unparalleled growth with the support of DWF Labs, as they work towards the groundbreaking development of the first-ever Web-3 Gaming console, The NFT Cube. The native token of SinVerse ‘SIN’ currently operates on the Binance Smart Chain Blockchain, is currently available to trade on Kucoin, Gate.io, BitGet and MEXC Exchange.

About DWF Labs

DWF Labs is a global leading digital asset market maker and multi-stage web3 investment firm, providing support from token listing to market making to OTC trading solutions. DWF Labs seeks to invest and support bold founders who want to build the future of Web3.

DWF Labs is present in Singapore, Switzerland, South Korea, the BVI, and the UAE and trades almost 2,000 pairs with a daily volume that places DWF Labs among the top 5 ranking entities trading on the world’s top 40 exchanges.

Website | Twitter | Portfolio | Telegram | Medium | Podcast | Linkedin

 

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Today's Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits

As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.

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