Category: Crypto
The Future of Crypto in US Politics: Contrasting Party Platforms
The Democratic National Committee recently unveiled its 2024 Party Platform, outlining the party’s key priorities leading up to the next election. Surprisingly, the platform did not mention Bitcoin, crypto, or blockchain, focusing instead on issues such as housing affordability and climate change. Additionally, it emphasized the need for the wealthy and corporations to pay their…
Analysis of the Financial Performance of Hut 8 Corp.
Hut 8 Corp, a prominent Bitcoin miner in North America, faced significant challenges in its financial performance for the second quarter ending June 30, 2024. Despite a substantial 72% year-over-year revenue increase to $35.2 million, the company reported a massive net loss of $71.9 million. The primary reason for this loss was a $71.8 million…
The Mixed Performance of TeraWulf in Q2 2024
TeraWulf’s second-quarter earnings report for 2024 showed a decline in BTC production compared to the same period in 2023. The company mined 699 BTC across its Lake Mariner and Nautilus Cryptomine facilities, marking a 21% decrease from the previous year. Despite the decrease in BTC production, TeraWulf’s revenue for the quarter increased slightly, reaching $35.6…
The Significance of Norway’s Bitcoin Investments
Norway, a country in northern Europe with a population of nearly 5.5 million, has been making waves in the world of cryptocurrency. The government of Norway has made significant investments totaling around $1.7 trillion for its citizens, with a portion of that being allocated to Bitcoin stocks. In fact, Norway now indirectly owns 2,446 BTC…
The Rise of North Korean Developers in Crypto Theft
Blockchain investigator ZachXBT recently uncovered a shocking revelation about North Korean developers who managed to steal $1.3 million from a project’s treasury. These devs, operating under false identities, injected malicious code into the system, enabling the unauthorized transfer of funds. The stolen money was first sent to a theft address and then moved from Solana…
The Growing Acceptance of Cryptocurrency Payments in Employment Contracts in the UAE
In a recent landmark ruling by a United Arab Emirates court, cryptocurrencies have been officially recognized as a mode of salary payment in employment contracts. This decision marks a significant shift in how cryptocurrencies are viewed and utilized in the UAE job market. The case involved a plaintiff suing their former employer for wrongful termination…
The Institutional Support for Bitcoin ETFs Continues to Grow
According to a recent report by Bitwise, U.S.-based institutional investors are showing strong support for Bitcoin spot ETFs, with approximately 66% either maintaining or increasing their holdings. This trend is particularly noteworthy given the market volatility and declining prices experienced in the second quarter of the year. Growing Number of Filings Bitwise’s chief investment officer,…
The Rise and Fall of Sahil Arora: A Closer Look at the Controversial Crypto Entrepreneur
Sahil Arora, a well-known figure in the crypto industry, has recently come under scrutiny for his controversial practices. While initial reports suggested that Arora had made an impressive $30 million this year, further investigation by blockchain expert ZachXBT revealed a much lower figure of approximately $3 million. This significant difference raises questions about the accuracy…
The U.S. Government Continues to Sell Bitcoin Holdings
Bitcoin experienced a 2.5% drop on Wednesday, settling at $59,100, following the U.S. government’s decision to transfer more of its Silk Road-related Bitcoin holdings to Coinbase Prime. This move was highlighted by the on-chain analysis platform Arkham Intelligence, which pointed out that 10,000 BTC, valued at $593 million, had been relocated. The specific wallet, bc1ql,…
Cybersecurity Threats on the Rise: Stolen Funds and Ransomware
In the ever-evolving landscape of cyber threats, a concerning trend has emerged regarding stolen funds and ransomware. Despite an overall decrease in illicit transactions, the amount of stolen funds in crypto scams has seen a significant uptick from $857 million to $1.58 billion by late July. Similarly, ransomware payments have also grown, with mid-year 2023…
The Latest Investment Move by Metaplanet in Bitcoin
Metaplanet has recently made a significant investment in bitcoin, purchasing around $3.3 million worth of the cryptocurrency. This move is part of the Japanese investment firm’s broader strategy to expand its bitcoin holdings. With this latest acquisition, Metaplanet now holds a total of 303.095 BTC acquired for $20 million. Earlier this month, Metaplanet Inc. secured…
The Rise and Growth of Core Scientific: A Look at Their Recent Financing
Core Scientific, a Bitcoin mining company based in Texas, recently announced the pricing of its increased offering of $400 million in 3.00% convertible senior notes due in 2029. Originally set at $350 million, the offering was upsized due to favorable market conditions. The notes are scheduled to settle on August 19, 2024, and will be…
The Impact of Crypto.com’s Partnership with UEFA Champions League
In a historic move, Crypto.com, a cryptocurrency exchange based in Singapore, has signed a groundbreaking partnership with the Union of European Football Associations (UEFA) Champions League. This partnership marks the first time that a crypto platform has become the official global sponsor of such a prestigious football competition. The agreement is set to span several…
The Growing Trend of Accumulation in the Digital Asset Market
In the midst of the current downturn in the market, the sentiment among investors in the digital asset market is one of uncertainty. Despite this, Glassnode’s analysis reveals a noticeable trend towards HODLing and accumulation among investors, indicating a shift in behavior amidst volatile market conditions. Following bitcoin’s all-time high in March, there was a…
