Bitcoin’s hash rate is tumbling as the Middle East conflict drives up energy prices, adding pressure to the mining sector and broader market.The drop in hash rate is likely tied to geopolitical tensions due to the war against Iran and surge in oil prices, given that an estimated 8% to 10% of global bitcoin mining operates in energy markets sensitive to energy costs.With hash rate down roughly 8% over the past week to 920 EH/s, the network may be entering another phase of miner capitulation. Historically, such periods have coincided with downside pressure on bitcoin’s price, which is currently trading…

Changpeng “CZ” Zhao embraced a chance to distance himself from recent accusations against Binance that it has been involved in handling transactions that potentially enabled terrorism financing in Iran.”I have zero interest in doing that,” said the founder and former chief executive of the exchange, who agreed to leave his company under a criminal settlement with the U.S. “I live in a country that’s being attacked by Iran. Even before that, I was just not interested in that,” he said in a video appearance at the Digital Chamber’s DC Blockchain Summit on Wednesday.CZ, a resident of the United Arab Emirates,…

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