Senator Cynthia Lummis of Wyoming has introduced a groundbreaking bill known as the Bitcoin Act. This bill proposes the addition of 1 million BTC, valued at approximately $64 billion, to the U.S. government holdings over a period of five years. Senator Lummis has likened this move to the historic Louisiana Purchase, emphasizing the significance of
Crypto
In the latest financial report, Riot Platforms revealed a staggering net loss of $84.4 million in the second quarter of this year, a significant increase from the $27.4 million loss recorded in the same period last year. These widened losses can be attributed to the ongoing effects of April’s Bitcoin halving, which has had a
In July, the total stablecoin market capitalization experienced a 2.11% growth, reaching an impressive $164 billion. This steady increase marks a ten-month consecutive ascent for major stablecoins, with their market dominance now standing at 6.93%. Tether, the largest stablecoin by market cap, saw a substantial 1.61% increase to $116 billion, setting a new all-time high.
Marathon Digital (MARA) recently released its second-quarter revenue report, which failed to meet Wall Street’s expectations. The company reported revenue of $145.1 million, missing the forecast of $157.9 million by approximately 9%. This revenue miss was attributed to various operational challenges, including unexpected equipment failures, transmission line maintenance at its Ellendale site, an increased global
The cryptocurrency market witnessed significant volatility this past week, with BTC experiencing a drastic drop of ten thousand dollars from Monday to Sunday morning. While there were various factors at play, many of them seemed to be closely tied to events in the United States. The week began on a positive note, with Bitcoin’s price
Over the past few hours, Bitcoin has experienced a significant price drop, falling below the $60,000 mark for the first time in several weeks. This sudden decline has sent shockwaves throughout the cryptocurrency market, with altcoins also suffering losses in response to the crash. Ethereum, for example, has dropped below $2,900, while other popular assets
Recently, the US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) made headlines by charging Nader Al-Naji with orchestrating a multi-million-dollar fraudulent crypto asset scheme involving the social media platform BitClout and its native token BTCLT. The complaint filed by the securities regulator shed light on Al-Naji’s alleged misdeeds, revealing that he
The California Department of Motor Vehicles (DMV) has taken a significant step towards modernization by digitizing 42 million car titles through the Avalanche (AVAX) network. In partnership with software development firm Oxhead Alpha, this initiative aims to streamline the state’s title transfer process. The new application developed by the DMV will allow users to easily
In recent news, prominent on-chain sleuth ZachXBT has uncovered evidence linking convicted UK hacker Gurvinder Bhangu, also known as Gurv, to a series of high-profile hacks involving American actress Sydney Sweeney and ‘Breaking Bad’ actor Bob Odenkirk. These hacks resulted in the theft of over $530,000 through Solana meme coin scams. On July 2nd, Sydney
Bitcoin miners are experiencing an increase in profitability and a recovery of their hashrate following the recent rally in the price of Bitcoin. As reported by CryptoQuant, the Bitcoin network’s hashrate has rebounded, with only a 3% drawdown from its all-time high compared to 8% in early July. This increase in hashrate is often associated
