The international environmental organization Greenpeace criticized the decision of the US Securities and Exchange Commission (SEC) regarding spot Bitcoin ETFs.
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Our statement on the @SECGov‘s #Bitcoin ETF approvals. This is a win for Wall Street executives but a loss for the climate and society.
It is incumbent on @BlackRock & @Fidelity to play an active role in solving Bitcoin’s pollution problem.https://t.co/AudLXWUT8S
— Greenpeace USA (@greenpeaceusa) January 11, 2024
On January 11, the SEC approved applications to launch the instrument from Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity and Franklin Templeton. Environmentalists said it was a win for Wall Street, “but a loss for the climate and society.”
“Without significant and measurable changes to Bitcoin mining practices in the near term, this poses significant challenges to our efforts to reduce carbon emissions and prevent the worst impacts of the climate crisis,” the statement said.
The organization called on BlackRock, Fidelity and other financial institutions investing in the first cryptocurrency to play an active role in solving the problem of carbon dioxide emissions.
“As the price of Bitcoin rises, so does its environmental impact. Miners use more electricity […]. This electricity is produced predominantly from fossil fuels, leading to increased carbon dioxide emissions and water consumption,” Greenpeace added.
Some members of the crypto community greeted the organization’s post on X with criticism. One commentator noted that Bitcoin mining “stimulates the development of renewable energy sources.”
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You took $5 million from a billionaire to fund an anti-#bitcoin propaganda campaign.
Bitcoin mining incentivizes renewable energy buildout and already uses a higher mix of renewables than any other industry on the planet.
Educate yourselves. https://t.co/veSB0xfHNd
— Walker⚡️ (@WalkerAmerica) January 11, 2024
Another user wrote about Greenpeace receiving funding “from big banks and other criminals who are destroying the planet to spread disinformation.”
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When did you become everything you use to stand against? Funded by big banks and other criminals destroying the planet to spread misinformation. Shame. 🤮🤮
— Ron HODL Swanson ☂️☢️🇨🇦⛏ (@RonHODLSwanson) January 11, 2024
In March 2022, environmentalists launched the Change the Code, Not the Climate campaign in collaboration with other environmental groups and Ripple co-founder Chris Larsen. Their main goal is to achieve the transfer of digital gold from the Proof-of-Work algorithm to Proof-of-Stake.
Larsen was criticized by some in the industry. Messari founder Ryan Selkis called him a “Judas” who “made billions in the crypto markets but then threw Bitcoin under the bus.”
In the spring of 2023, Greenpeace introduced a mascot that represents the “dangerous amounts of pollution” caused by mining the first cryptocurrency.
However, the creator of “Satoshi’s Skull,” artist Benjamin von Wong, later stated that his work “was never intended to combat Bitcoin.”
Previously, ForkLog and industry representatives spoke about the development of environmentally friendly mining and its real prospects.
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2024-01-15 16:51:13
#Greenpeace #criticized #approval #Bitcoin #ETF #USA #ForkLog
