Mozilla Foundation pulls back on its crypto donating strategy as they face outcry over the move. One of the main reasons behind this action is the fact that cryptocurrency is deemed to be environmentally unfriendly.
Mining farms that are sucking up an exorbitant amount of energy resources to crack computer codes within the crypto space have been facing an ever-growing backlash from environmentalists. Companies have been steadily distancing themselves from the space because of this very reason.
Earlier last year, Elon Musk who is the CEO of Tesla announced that they were going to accept bitcoin to purchase vehicles. That plan never lasted 2 months as he was forced to backtrack on that strategy.
He cited environmental reasons as to why he never wanted his company to support bitcoin. The irony in his initial acceptance of the cryptocurrency left critics wondering which side of the playing field was he on.
One of Mozilla’s founders Jamie Zawinski expressed his disappointment in the move in a Twitter tweet. His tweet had in a lot of expletives but to chop out those parts, he basically said, “Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters,”.
Kazakhstan currently is in turmoil basically over the increase in energy prices which has been escalating over the last few months. Ever since China pushed aside the crypto miners, a good portion of them set up shop in Kazakhstan which was seen as a viable place to do it based on conditions.
It seems it was only a dream as the government had to shut down the internet which has disrupted the crypto market.
