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At this moment, Tesla’s Elon Musk holds the title of the wealthiest individual on the planet, as reported by the Forbes Real Time Billionaires list on June 1, 2024. However, there exists a potential future where Bitcoin’s creator, Satoshi Nakamoto, could surpass Musk’s fortune. Given the current value of BTC, the price would need to … Read more
Bitmain has announced the release of the Antminer L9, an application-specific integrated circuit (ASIC) miner tailored for coins that use the Scrypt algorithm, such as litecoin and dogecoin. The company reports that this new model provides 16 gigahash per second (GH/s) in hashing power and achieves an energy efficiency of 210 joules per gigahash (J/G). … Read more
This weekend, the Singaporean cryptocurrency firm QCP Capital reported a significant drop in market volatility after the approval of spot ethereum (ETH) exchange-traded funds (ETFs), despite ongoing catalysts. QCP highlighted that bitcoin is under bearish pressure due to potential new supply from the Mt Gox distribution, estimated at $9.6 billion, and from the DMM Bitcoin … Read more
This weekend, Ethena’s synthetic U.S. dollar stablecoin USDE reached the $3 billion range. As of June 2, 2024, USDE has surpassed First Digital’s FDUSD stablecoin. Ethena’s Synthetic Stablecoin USDE Exceeds $3 Billion Launched in February, the synthetic U.S. dollar stablecoin USDE, which offers yield earnings on holdings, has exceeded the $3 billion threshold. As of … Read more
Republican Senator Ted Cruz from Texas has announced that he purchased three application-specific integrated circuit (ASIC) bitcoin miners. “I just bought 3 Bitcoin miners that started hashing today in Iraan, TX,” the Senator stated on X this week. “I’m proud to join the ranks of Texas bitcoin miners,” he added. Cruz is an ardent advocate … Read more
The Wrapped Bitcoin (WBTC) protocol, initiated by Bitgo in 2019, holds the title of the largest BTC derivative project by market capitalization, and to date, no other project has exceeded its scale. Nonetheless, the past few years have seen a significant decline in the number of wrapped bitcoins in circulation, with more than 32% of … Read more
Nigeria’s young resident population now feels more bewilderment due to the administration’s recent actions against Nigeria’s crypto industry. Go to Source
In May, cybercriminals were less successful in their attacks on decentralized platforms, resulting in losses attributed to hacks and fraud incidents amounting to approximately $52.4 million. During the same period last year, digital assets worth $59.3 million were lost to similar attacks. Gala Games, which incurred a loss of $21 million, and Sonnefinance with $20 … Read more
Rashawn Russell, a former investment banker, was sentenced on Thursday to 41 months in prison for a cryptocurrency fraud scheme that caused $1.5 million in investor losses. From November 2020 to August 2022, Russell deceived multiple victims by promising high returns from cryptocurrency investments, only to misappropriate their funds for personal use, gambling, and repaying … Read more
Former U.S. President and presidential candidate Donald Trump’s crypto portfolio now exceeds $14 million, according to Arkham Intelligence’s onchain tracking tool. His crypto holdings include a significant amount of meme coins, which were airdropped to him by various developers. Trump has been convicted of 34 felony counts related to falsifying business records, marking the first … Read more