Compass Point raised the stock rating of Iris, a bitcoin mining enterprise, and its share price rose nearly 8%

1.Compass Point raised the stock rating of Iris, a bitcoin mining enterprise, and its share price rose nearly 8%.

The share price of Iris Energy (IREN), a bitcoin miner, rose sharply on Wednesday after Compass Point, a research company, raised its stock rating from neutral to buy. Analyst Chase White said that if Iris Energy could obtain additional computing power at a low cost as it did in August, it would be possible to improve its computing power, thereby increasing Bitcoin production. White also predicted that if Iris Energy could implement its strategy, its shares could be traded at a premium to other small mining enterprises. As of press time, the transaction price of IREN was US $4.59, up nearly 8%. The target price for Compass Point is $6.50 per share.

2.Shanghai Procurator: As a general property, virtual currency has the property attribute in the legal sense.

On September 14, it was reported that a case of criminal incidental civil public interest litigation for infringement of citizens' personal information had been heard recently. The defendant Zhang in the case made 6000 USDTs illegally. The public interest litigation prosecutor of the Pudong New Area Procuratorate finally calculated the amount of public interest damage compensation based on the virtual currency value of the profits, realizing the maximum protection of public interests. Public interest litigation prosecutors believe that although virtual currency does not have the status of legal currency in China, it has the property attribute in the legal sense as a general property. Lei Yao, the prosecutor of public interest litigation, said that the ratio of TEDA to USD was basically 1:1. The procuratorial organ determined that Zhang's illegal income was about 38760 yuan by referring to the transaction price of the relevant trading platform on the trading day and the exchange rate between USD and RMB.

3.Report: Emerging markets led by Vietnam drive the increase of global encryption adoption rate.

According to the latest report released by Chainalysis, the global cryptocurrency adoption index shows that the growth of the global cryptocurrency adoption rate slowed down during the bear market this year, but the sharp decline did not erase the growth of the adoption rate during the bull market. The adoption rate of global cryptocurrencies is still higher than that before the bull market, and emerging markets are currently in a leading position.

4.Ethereum merger will be a "huge milestone" in reducing energy consumption in the encryption field.

At present, the power demand of Ethereum is equivalent to that of Portugal. The Ethereum merger and upgrade is expected to take place tomorrow morning. Dmitry Buterin, Vitalik Buterin's father, said that the Ethereum merger would become a "huge milestone" in how to deal with "its huge energy waste" in the encryption field.

5.InDeFi, a Russian cryptocurrency company, plans to issue stable rubles following the model of MakerDAO.

InDeFi, a cryptocurrency company founded by Alexander Lebedev, a former Russian banker, plans to issue stable ruble coins following the model of MakerDAO. Sergey Mendeleev, co-founder and CEO of InDeFi, said that the stable currency will make it easier for Russian citizens to use the international cryptocurrency exchange, and can trade with foreign counterparties through cryptocurrency after the change of legislation. The price of the stable currency will strictly anchor the ruble. InDeFi's current business is to provide stable currency loan tools.

6.Viewpoint: Bitcoin is losing its appeal as a potential "inflation hedge".

Market analysts said Bitcoin was losing its appeal as a potential "inflation hedge" for investors. Daniel Kostecki, currency trader of Conotoxia, said, "In countries with the worst currency depreciation, such as Japan, the dollar has risen by more than 20% against the Japanese yen since the beginning of the year, and Bitcoin has depreciated by 35%. Compared with the Korean won, the dollar has appreciated by 15% since the beginning of the year, while the BTC/KRW exchange rate has fallen by more than 40% during that period." Kostecki added that "even gold cannot counter the current inflation trend".