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Wall Street Banks Say They're Unlikely to Finance Crypto Miners
Summary: 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 ...
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, according to CoinDesk
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
Tags: Banks,Bitcoin Miners
Link: Wall Street Banks Say They're Unlikely to Finance Crypto Miners [Copy]
