Coinbase is finally moving out of the US because that has just received a Bermuda license. Coinbase is not taking things lightly anymore, they plan to continue their operation with or without the US market. They have their personal reasons for choosing this jurisdiction because Bermuda was one of the first financial centers to pass the digital assets regulation back in the year 2018. Right now, it seems like the US regulators do know what they are doing but the rest of the world is taking advantage. We also see the co-founder of Gemini Tyler Winklevoss coming out on Twitter to talk about their potential of moving out of the US.
We saw another meme coin popping up this week and the meme I am talking about is the Pepe coin that saw a 500x. Even though the price of Bitcoin has been struggling, the Bitcoin mining industry is growing massively. It is predicted that the network will hit a new all-time high this week. There are some reasons why Bitcoin's hash rate is growing massive and one of them is that Russia is increasing its mining activity over the past year to reportedly become the world's second-largest miner this year.
Another interesting thing just happen in the Solana ecosystem, Helium finishes its Solana migration mining about 1 million NFTs in the process. This is good for Solana and Helium and as part of the migration process, NFT is been minted representing the physical Hotspot node running on the Ethereum Blockchain which is about 991,000 NFTs. The owners of the hotspot will be able to claim their NFT by simply login into their wallet that is connected to their wallet. This is very crucial for Solana holds due to the fact that this is the most important test case to date. It is because of the Solana compression feature which a lot of people to NFT at a very cheap rate compare to other networks. Of course, this is a huge achievement for the Solana ecosystem because people will be able to mint NFTs are a very cheap rate.
