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Crypto Lender Abra Settles Lawsuit, Will Reopen Customer Withdrawals
24.1.2024
Crypto lender Abra has reached a tentative settlement with the Texas State Securities Board. According to a document published January 22nd, Abra has agreed to reimburse the assets invested by the state’s residents. The document highlights that Abra has begun winding down its U.S. retail...
Mining Digital Gold — These Are the Most Profitable Proof-of-Work Algorithms in 2024
21.1.2024
In September 2022, Bitcoin’s SHA256 algorithm ranked as the seventh most lucrative proof-of-work (PoW) network for mining. Fast forward a year and four months, and this algorithm has ascended to become the third most profitable crypto network for mining operations. 2022 to 2024 Sees...
Subzero Temperatures in Texas Impact Bitcoin Hashrate Amidst Energy Strains
18.1.2024
As Texas grapples with unexpected subzero temperatures, the state’s bitcoin mining operations have shut down due to high energy demand. This has freed up much needed electricity capacity in the state, while also leading to a sharp drop in the global Bitcoin hashrate. Bitcoin Mining in Texas...
Bitcoin Hash Rate Plunges Ahead of Anticipated Halving Event – Here’s the Latest
18.1.2024
The Bitcoin (BTC) hash rate experienced a significant drop of 34% as a result of a sudden freeze in Texas, causing some miners to scale back their operations due to the strain on the state’s energy grid. The development comes at a crucial time, with the anticipated halving event, where...
Thailand’s SEC Eases Investment Restrictions in Select Digital Assets
18.1.2024
The Securities and Exchange Commission (SEC) of Thailand has updated the criteria for investing in digital tokens, easing some restrictions. In a meeting held on March 2, 2023, the SEC Committee approved the principles for improving investment criteria and related criteria for digital asset...
Socket Protocol Loses $3.3M in Exploit, Users Urged to Revoke Approvals
18.1.2024
Following a serious exploit in the Socket protocol that drained $3.3 million, the company has halted specific operations and urged users to revoke all approvals as a precautionary measure. Socket Responds to $3.3 Million Security Breach With Swift Action and Transparency Socket, a cross-chain...
Bitcoin Miners Curtail Operations During Texas Winter Storm
18.1.2024
Everything is bigger in Texas – including the weather. In recent years, The Lone Star State has seen dramatic weather related events, including overly hot summers and unusually cold winters. For instance, an arctic blast hit Texas in February 2021, leaving many Texans literally out in the cold....
Socket, Bungee Restart Operations After Apparent $3.3M Exploit
17.1.2024
The platform experienced a security incident late Tuesday that affected wallets with infinite approvals to Socket contracts, developers said
Hashkey Group Achieves Unicorn Status With $100 Million Series A Funding
16.1.2024
After obtaining a comprehensive capital markets license in Singapore, Hashkey Group announced it has successfully garnered $100 million through a Series A funding round. The fresh injection of capital is earmarked for expediting the growth of their licensed operations in Hong Kong, while...
Fantom Reduces Validator Requirement to 50k FTM, Prioritizes Decentralization
16.1.2024
Source: Adobestock Fantom Network has announced a 90% reduction in validator requirements, taking the assets needed to run a self-staking node to 50,000 FTM from 500,000 FTM. The company wrote on X (formerly Twitter) about the new developments, informing its community of changes, reasons, and...
Venezuela’s Petro Cryptocurrency to Cease Operations on Jan 15
13.1.2024
Source: RawBeautyPixels/Adobe Venezuela’s national cryptocurrency, the Petro (PTR), is set to cease operations on January 15. The Petro, introduced in 2018 with the goal of helping the country evade United States sanctions, failed to gain widespread adoption throughout its existence....
Core Scientific Closes $55 Million Equity Offering for Bitcoin Mining Operations
8.1.2024
Source: AdobeStock Bitcoin mining company Core Scientific has disclosed the outcomes of its $55 million Equity Rights Offering (ERO). The ERO, created to raise funds, experienced oversubscription, with total subscriptions surpassing the $55 million cap. In a press release on January 8, the firm...
Radiant Capital Resumes Arbitrum Markets Operations After Security Breach
5.1.2024
Source: DALL·E Radiant Capital has announced the reopening of its lending and borrowing markets on Arbitrum after an extensive security review. According to Radiant Capital’s recent post, this resumption came after a detailed review and resolution of the security breach that resulted in...
Cipher Mining Bolsters Operations With 16,700 Bitcoin Miners From Canaan
5.1.2024
The Nasdaq-traded mining company Cipher Mining unveiled plans to expand its Bear LLC and Chief Mountain LLC projects, revealing the acquisition of 2.5 exahash per second (EH/s) of Canaan-crafted application-specific integrated circuit (ASIC) bitcoin mining machines. The enterprise will procure...
South Korean Gaming Giant WeMade Must Pay $41M ‘Crypto Tax’ Bill
4.1.2024
Source: Zerbor/Adobe The South Korean gaming firm WeMade has been hit with a $41 million tax bill for its crypto-related activities. Yonhap reported that the National Tax Service (NTS) issued the bill following an investigation into the firm’s historic crypto business operations. The NTS said...
Bitcoin Price Prediction: Saylor Sells Stocks, CleanSpark’s New Desk
3.1.2024
In the dynamic world of cryptocurrencies, Bitcoin currently trades at $45,224, marking a slight decrease of less than 0.50% on Wednesday. In a significant move, Michael Saylor has initiated the sale of $216 million in MicroStrategy stocks, opting to invest further in Bitcoin. Meanwhile, CleanSpark...
Bit Mining Sells Btc.com’s Mining Operations for $5 Million
30.12.2023
On Friday, Bit Mining Limited declared it had sold the mining pool operations of Btc.com to a Hong Kong limited liability company for $5 million. This transaction is anticipated to bolster the total equity of Bit Mining’s shareholders, contingent upon certain concluding conditions. BTCM...
Indonesian Authorities Raid Ten Crypto Mining Facilities for Energy Theft
29.12.2023
Source: AdobeStock / Photocreo Bednarek Indonesian authorities crack down on ten Bitcoin (BTC) mining sites for stealing energy from the national grid to power mining operations in the country. According to reports from local media outlets, the government moved in on ten crypto mining sites whose...
Catalyx Exchange Halts Operations Post Security Breach, Probing Potential Insider Involvement
29.12.2023
Source: Jason Hafso / Pexels Canadian cryptocurrency exchange Catalyx has temporarily suspended trading and withdrawals on its platform after discovering a security breach that it suspects may involve one of its employees. The exchange said it believes that this breach has resulted in the loss of...
‘OTC King’ Zhao Guilty of Unauthorized Crypto Operations, Says Chinese Legal Authority
28.12.2023
Source: Pexels China’s Supreme Procuratorate has reportedly disclosed the details behind the seven-year prison sentence given to the founder of the over-the-counter (OTC) crypto trading desk RenrenBit, Zhao Dong. In a press release on December 27, the Chinese legal authority revealed that...