Summary: According to CoinDesk, many CEOs of top U.S. banks said during a congressional hearing on Wednesday that they do not have plans to finance cryptocurrency miners. Among the banks are Citigroup, Bank of America, and Wells Fargo. In April, U.S. Representative Jared Huffman led a group of colleagues to urge federal environmental officials to apply ...

According to CoinDesk, many CEOs of top U.S. banks said during a congressional hearing on Wednesday that they do not have plans to finance cryptocurrency miners. Among the banks are Citigroup, Bank of America, and Wells Fargo.

In April, U.S. Representative Jared Huffman led a group of colleagues to urge federal environmental officials to apply more scrutiny to the consequences of cryptocurrency mining.

Miners have been struggling this year due to a drop in the price of bitcoin and increasing energy prices.

Companies have attempted to assist miners. Decentralized finance platform Maple Finance, for example, is creating a $300 million lending pool for miners in North America and Australia.

Author: Katie Lin