Tether, the largest stablecoin issuer, plans to develop a
UAE Dirham-pegged stablecoin in partnership with the
Phoenix Group. This partnership signals investor confidence in Middle Eastern crypto economy and represents an innovative stride in cryptocurrency development. A series of notable events have followed, with Phoenix Group launching a 25MW Crypto Facility, bolstering mining capabilities with a $187M Bitmain deal, and elevating hashrate to new highs with Phoenix BCH Miner. The remarkable growth of
Black Phoenix crypto and the launch of the Phoenix Memecoin underscore the value proposition of Phoenix Group. Strikingly, the Bitcoin Cash hash rate hit a yearly peak with Phoenix dominating over 90% of its network. Amidst these advancements, Phoenix Wallet faces regulatory concerns, leading to its exit from the US market. Further, the
Phoenix Group successfully raised $370M in an oversubscribed IPO, even while delaying Bitcoin share listing due to growing regulatory scrutiny. Phoenix Group's strategic moves, from acquiring Bitcoin mining machines to securing a $380M deal for sustainable Bitcoin mining equipment, demonstrate its commitment to efficient and green practices. However, controversy surrounds the Phoenix Coin Shop owner for leaving a customer without goods or payment. Overall, despite compounding regulatory concerns and industry volatility, Phoenix Group maneuvers suggest promising prospects for
Phoenix Coin.
Phoenix Coin News Analytics from Thu, 26 Mar 2020 07:00:00 GMT to Mon, 26 Aug 2024 07:00:00 GMT -
Rating 8
- Innovation 5
- Information 6
- Rumor 4
