Robinhood’s cryptocurrency trading volume hit $3.7 billion last month, a 95% increase compared to December 2022. Contrary to the good start of the year, the 2022 bear market took its toll on the firm’s crypto revenue. It also dismissed nearly a third of its total headcount. Starting off on the Right Foot The cryptocurrency market...Read More
The cash withdrawal restrictions imposed by the Central Bank of Nigeria (CBN) have made a strong case for Bitcoin as a solid store of value and a censorship-resistant currency. Nigeria is currently facing a shortage of physical cash after the CBN redesigned its banknotes, causing the old bills of the local naira currency to become...Read More
The past 24 hours have seen the entirety of the crypto market trade in the green as Bitcoin’s price reached a high of just around $25K. The last time BTC traded around this level was back in August 2022, and the market seems ecstatic. But why did Bitcoin pump? Mystery Bitcoin Whales Behind the Rally?...Read More
The Galaxy Digital founder and chief executive said he expects Bitcoin prices to reach $30,000 by the end of March. Speaking at a Bank of America conference on Feb. 15, Novogratz said: “When I look at the price action, when I look at the excitement of the customers calling, the FOMO building up, it wouldn’t...Read More
Milena Mayorga – ambassador of El Salvador to the United States – said the Salvadoran authorities might open a bitcoin embassy in Texas. The central American nation has already introduced a BTC office in the city of Lugano, Switzerland. The Second BTC Embassy Mayorga held a meeting with Jose “Joe” Esparza (Texas Deputy Secretary of...Read More
The United States Department of Labor outlined the inflation numbers for the first month of 2023, which were slightly different that the expectations. Bitcoin reacted with an immediate price drop that drove it from $21,900 to $21,600 in minutes. The US government announced the latest CPI numbers on February 14, indicating that the Consumer Price...Read More
The popular Canadian rapper – Aubrey Drake Graham (better known as Drake) – won $1,262,000 worth of bitcoin after the Kansas City Chiefs came out victorious on Super Bowl LVII and Patrick Mahomes scored a touchdown. His last year’s bet was also successful, bringing him a profit of $300,000 in BTC. Super Bowl is Immune...Read More
Robert Kiyosaki – the author of the bestseller “Rich Dad, Poor Dad” – thinks bitcoin will surge to $500,000 by 2025 due to an incoming market crash and a consecutive distrust in the US dollar. He has previously warned people to avoid traditional fiat currencies during uncertain times and focus on BTC or gold. Kiyosaki’s...Read More
The Canadian University of Dubai (CUD) partnered with Binance to enable students to pay their fees in digital currencies. With the recent collaboration, the exchange dived deeper into the local ecosystem. It received a cryptocurrency license from Dubai’s regulators in September last year. Settling the Semesters in Crypto The world’s leading crypto platform disclosed the...Read More
A study by BanklessTimes revealed that 67% of respondents aged 27-42 consider bitcoin a safe haven. Previous polls have shown that millennials are among the most active demographic groups in the cryptocurrency space and have a friendlier outlook than older generations. BTC Emerges as an Important Asset for Millennials According to Jonathan Merry – CEO...Read More
Kraken’s generated trading volume for the past 24 hours increased by almost 15%. The surge contrasts with the company’s issues prompted by the recent SEC investigation and the consecutive termination of staking services. Data extracted from CoinMarketCap and CoinGecko revealed that Kraken’s 24h trading volume stands at around $757 million, or a 14% increase. Based on numerous factors,...Read More
The US-based cryptocurrency miner TeraWulf produced 157 BTC in January, a 25.6% increase compared to December. Snow blizzards towards the end of 2022 crippled its operations and increased electricity bills. The weather normalized in January, hence the better production results. Expansion Plans for 2023 TeraWulf boosted its mining activities with an increased number of machinery...Read More
The US-based cryptocurrency miner Riot Blockchain produced 740 BTC last month, a 62% increase compared to January 2022 and a new monthly all-time high for the company. The positive start of the year contrasts the disappointing production levels and shrinking revenue towards the end of 2022. Hitting an ATH Despite experiencing issues with its mining...Read More
A study conducted by the financial consultancy firm – deVere Group – estimated that 82% of clients with over $1.2 million worth of investable assets sought advice on cryptocurrencies in the past 12 months. The significant interest came in spite of the broad market slump and the countless scandals and bankruptcies that happened in 2022....Read More
Wybo Wiersma – a 40-year-old Dutchman who studied at Oxford’s St Cross College – will serve a 54-month prison sentence for stealing £2,156,000 (more than $2.6 million) using a cryptocurrency scheme. UK detectives linked the scam to the man who used the pseudonym Norbert van den Berg in his malicious website and university coursework. ‘Greed...Read More
American business intelligence company MicroStrategy has recorded another quarterly loss after calculating the value of its Bitcoin portfolio. According to a Bloomberg report, MicroStrategy recorded a net loss of $249.7 million, narrowed down to $21.93 a share, in Q4 2022. The firm’s revenue declined by 1.5% to $132.6 million, going lower than the estimated drop....Read More
Bitcoin miners located in Texas reportedly suffered severe disruption of their operations due to a blizzard that battered the region. The extreme weather conditions prompted them to switch off their machines to preserve the local power grid. The Cold Winter in Texas Surprised Crypto Miners As reported by Bloomberg, the ice storm that hit “the Lone...Read More
Marathon Digital Holdings – one of the leading bitcoin miners – mined 687 BTC in January 2023, a 45% increase compared to the last month of 2022. However, the company shifted from its non-selling strategy, parting with 1,500 BTC to cover operational expenses. Change of Plans Marathon started the year by producing 687 BTC in January, a...Read More
The once-prominent bitcoin miner Core Scientific inked an agreement with the New York Digital Investment Group (NYDIG) to hand over 27,403 of its mining machines and thus pay off an outstanding debt of $38.6 million. The company filed for bankruptcy protection a few days before Christmas 2022. Looking for a Way Out According to a...Read More
Lebanon is adopting a new official exchange rate, devaluing its local currency by nearly 90%. The new rate is set at 15,000 Lebanese pounds against the U.S. dollar, according to a January 31 report, which cited a statement from the country’s central bank governor, Riad Salameh. This marks a significant shift from the old rate...Read More
The total bitcoin mining revenue (block rewards plus transaction fees) per day soared by almost 50% since the beginning of the month, tapping almost $24 million. Despite the significant rise, the figure stands far from the all-time high of over $80 million registered in April 2021. Bitcoin’s rally during the first month of the year...Read More
Senior United States District Judge William Fremming Nielsen sentenced the 56-year-old American Ronald Craig Ilg to eight years in federal prison. The latter hired hitmen on the Dark Web to kidnap his wife and beat his former colleague, and paid them over $60,000 worth of bitcoin. Maximum Penalty for the Doctor The US Department of...Read More
Residents of Murphy, North Carolina, complained that a cryptocurrency miner located in the area causes “insane” noise and negatively impacts the electric grid. As such, some people have decided to leave the town and settle in another place. ‘It Sounds Like You Are Behind a Jet’ The crypto miner installed by the San Francisco-based company...Read More
The LOOP Design Awards reportedly recognized the Bitcoin City of El Salvador’s government as one of the most outstanding projects in interior design and architecture. When completed, the metropolis will use the energy released from the Conchagua volcano to power itself and BTC as its currency. Bukele’s Dream City Gets an Award According to recent coverage,...Read More
The United States Securities and Exchange Commission (SEC) rejected the joint effort of Ark Investment Management and 21Shares to list a spot Bitcoin ETF on the Cboe BZX Exchange. The agency dismissed another application filed by the partners in the spring of 2022. As indicated in a recent filing, the American financial regulator did not...Read More
The world’s largest economy just announced the GDP figures for the latest quarter of 2022, showing moderate but declining growth compared to Q3. Unlike most previous statements coming from the US, this one brought little-to-no immediate volatility to the crypto market, with BTC still standing above $23,000. The overall expectations ahead of the Q4 2022...Read More
Tesla, the electric car company led by Elon Musk, did not sell the remaining of its Bitcoin stash, as it was supposed to do during the 4th quarter of 2022, according to a filing published by the Securities and Exchange Commission (SEC). Tesla’s BTC holdings should be priced at around $245 million, which would be...Read More
The US-based bitcoin miner – Core Scientific – reportedly secured a $500 million fundraiser led by leading finance players, such as BlackRock, Apollo Capital, Kensico Capital, Ibex Investors, and others. The company filed for bankruptcy protection at the end of last year but continued mining BTC to repay debtholders. Traditional Finance Firms Flocking to Help...Read More
Blockstream, a leading bitcoin infrastructure provider, announced on January 24 that it had raised $125 million in funding to expand its institutional bitcoin mining services. This fundraising round was led by Kingsway Capital, a UK-based private equity fund, and included participation from other investors such as Fulgur Ventures and Cohen & Company Capital Markets. This...Read More
Nayib Bukele – the President of El Salvador – revealed that the government repaid its $800 million bond plus interest the same day it was set to mature. Settling the bond comes despite the pessimistic views that the nation will experience financial challenges due to its bitcoin forays. ‘We Just Paid in Full’ El Salvador’s...Read More
