The 2022 stock market weakness continued this week, with major indexes trading lower on another round of discouraging inflation data. What Happened: On Friday morning, the SPDR S&P 500 ETF Trust dropped 2.6% after the Labor Department reported the consumer price index rose 8.6% in May, the highest U.S. inflation reading since 1981.
New York lawmakers passed legislation banning the use of carbon-based energy sources for the mining of Bitcoin. New York would be the first state in the U.S. to ban particular Bitcoin mining, which could have a ripple effect across the country.
Friday early morning, New York lawmakers passed legislation banning certain bitcoin mining firms from using carbon-based energy sources. What happened: If signed, it would make New York the first state in the country to ban blockchain technology infrastructure, according to Perianne Boring, founder and president of the Chamber of Digital Commerce, reported CNBC.
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