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Crypto executives say the British ban on crypto derivatives is hurting retail investors rather than protecting them. Crypto execs are slamming the U.K.’s Financial Conduct Authority over its ban on crypto derivatives, saying it’s hurting retail investors more than helping them. Joshua Barraclough, CEO of One Trading and a former JPMorgan executive in an interview with Financial News said the “terrible” ban is “harming consumers,” suggesting that people should be able to make their own investment choices, even if they come with risks. Konstantinos Adamos, Revolut’s legal counsel for crypto, shared similar views. He noted that while the FCA’s concerns about the complexity and volatility of crypto derivatives are understandable, retail investors should still be allowed to decide for themselves. Carly Nuzbach Lowery, founder of Gateway 21, believes that the ban is outdated, as it feels “blunt” and unnecessary. You might also like: Coinbase CPO urges US Congress to act on crypto regulation The FCA first introduced the ban in 2020, reaffirming it later in a March 2024 update. FCA’s tough stance on crypto has driven firms like crypto exchange Bybit to suspend their operations in the United Kingdom. Only 14% of the 368 crypto registration applications received by the FCA since 2020 have been approved so far. Meanwhile, the FCA failed to remove all illegal crypto ads as nearly half of flagged promotions still online. As crypto.news reported earlier, between October 2023 and October 2024, the FCA issued over 1,700 alerts about illegal crypto ads, apps, and websites. However, less than 55% were taken down. Read more: FCA doubles down on hawkish crypto stance to fight money laundering
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Grayscale Explores Polkadot ETF Amid Mixed Market Reactions and Regulatory Uncertainty
Grayscale’s strategic move into single-asset ETFs marks a significant shift in the crypto investment landscape, challenging traditional asset management firms. By targeting specific cryptocurrencies like Polkadot, Grayscale offers unique investment crypto.news
Compass Mining Expands with 20 MW Hydro-Cooled Bitcoin Mining Facility in North Dakota
5.5 MW of the Next-Generation Antminer S21 Hydro Machines Already Energized for Institutional Client WILMINGTON, Del., Feb. 26, 2025 /PRNewswire/ – Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, is pleased to announce the launch of a new 20-megawatt (MW) Bitcoin mining facility in North Dakota. The facility is equipped with the water-cooled Antminer S21 Hydro machines, with 5.5 MW of capacity already energized by Compass. The remaining machines will be phased in over the coming months to meet growing demand from Compass’s clients. This expansion allows Compass to immediately provide hosting services to both institutional investors and individual miners. Effective immediately, customers purchasing machines through Compass’s platform—starting with a minimum order quantity (MOQ) as low as one unit—will have the option to deploy them at the “North Dakota 2” site. “Our continued expansion of both self-owned and partner-operated facilities reflects our commitment to offering flexible and efficient Bitcoin mining solutions,” said Shanon Squires, Chief Mining Officer at Compass Mining. “The introduction of hydro-cooling technology provides our clients with a more powerful and energy-efficient mining option while ensuring long-term machine durability.” The newly energized 5.5 MW of power capacity consists of 1,000 units of the Antminer S21 Hydro, the newest generation of bitcoin mining machines. These machines use advanced water blocks to dramatically improve cooling efficiency compared to traditional air-cooled systems. This results in increased processing power, reduced energy consumption, and a more stable operating environment, minimizing downtime and maximizing long-term performance. Compass Mining’s strategic approach combines self-owned facilities, such as its recent Iowa 4 site, with high-uptime third-party partnerships to maximize operational reliability. In 2024, Compass energized approximately 50 MW of mining capacity across sites in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas, reinforcing its position as the leading provider of hosting and operational solutions for bitcoin mining. About Compass Mining Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io . crypto.news
