Bitcoin mining firm Riot Platforms reports a total revenue of $70.0 million from the $76.7 million recorded in the same period last year. The drop is due to the Bitcoin halving event in April. This decrease in revenue is also attributed to a $9.7 million drop in engineering revenues. This was somewhat offset by a...
Bitcoin’s price dropped 1.4% to $63,721 on Thursday after the US Federal Reserve decided to keep interest rates unchanged and amid concerns about rising tensions in the Middle East. The crypto asset dropped below $65,000 for the first time in a week. This occurred after Fed officials, as economists expected, decided to keep interest rates...
Matt Hougan, the chief investment officer of Bitwise, has said the recent commitments made by US politicians have made him reconsider his perspective on Bitcoin’s potential. In a blog post on July 31, Hougan wrote that “we’re not bullish enough” following the recent promises by influential US politicians at the Bitcoin conference in Nashville. Politicians...
Two-way price volatility saw Bitcoin whales accumulate $5.4 Billion of BTC in July, capitalizing on market lows in the fastest scoop-up in a decade. Large Bitcoin holders, or addresses owning at least 0.1% of BTC’s circulating supply, accumulated over 84,000 BTC in July, valued at $5.385 Billion, per IntoTheBlock and Trading View Data. The move...
The Bank of England announced an interest rate cut of 0.25%, down to the 5% mark. This concludes one of the longest periods of heightened interest rates. In an August 1st X post, the Bank of England announced the move to reduce interest rates. The ease was primarily driven by inflation, after it saw a...
Some of the largest Bitcoin (BTC) miners in the world are using their infrastructure to host high-performance computing (HPC) data centers. HPC computing data centers use energy to process large datasets and complex computations that are needed to train artificial intelligence (AI) models. Core Scientific Inc. – one of the most established large-scale Bitcoin (BTC)...
Cryptocurrency advocacy group The Digital Chamber is urging U.S. officials to support the Cynthia Lummis-Sponsored Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act Of 2024. According to the Digital Chamber, the digital asset advocacy group spent Thursday hand-delivering a letter to every U.S. senator to encourage them to get behind the BITCOIN...
The Securities and Exchange Commission (SEC) has charged BitClout founder Nader Al-Naji with orchestrating a multi-million-dollar fraudulent crypto asset scheme through his cryptocurrency trading and social media platform called BitClout and its native token, BTCLT. The SEC said in its compliant that the Al-Naji, lied to investors about where their funds went and spent more...
In response to the recent $230 million security breach on WazirX, the Bharat Web3 Association (BWA) is ramping up efforts to strengthen cybersecurity and enhance consumer protection within India’s crypto industry. Chaired by Dilip Chenoy, the BWA has established two internal groups dedicated to addressing these critical issues and investigating the recent security breach. BWA...
Mainland China, known for its stringent regulations on cryptocurrencies like Bitcoin, continues to face challenges with crypto investment frauds. Despite the nation’s comprehensive crypto ban, fraudulent activities persist. According to local news agency Baidu, on July 31, law enforcement in the Chinese province of Shaanxi successfully dismantled a crypto fraud scheme, arresting four suspects. The...