Day: March 13, 2023

Lucky solo bitcoin miner solves block for nearly $150k 

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A very lucky bitcoin miner has earned almost $150,000 on a mining service.   A small-scale bitcoin (BTC) miner has earned a fortune of $148,000 after luckily solving a bitcoin block through the Solo CK mining service with a hashrate of just 6.7 petahashes per second (PH/s).  According to a tweet by Con Kolivas, the creator of ckpool and cgminer, a miner with such a hashrate will only solve a bitcoin block just once every 10 months on average. Solo CK is a not-for-profit mining service that saves miners the costs…

Web3 App Uses Crypto-Fueled Rewards to Get People to Exercise

Meanwhile, the gamer side of Werk’s personality was geeking out on the Stepn rewards system. It’s not as simple as “buy a digital sneaker, walk and earn rewards.” That’s the general idea, but the game has a complicated framework of level-ups, mini-rewards, random prizes and decisions you can make to optimize your loot. (The game also, to the chagrin of many, entices you to pour more money into Stepn, a feature that caused thousands of users to quit. More on that later.) “You can gamify every part of it,” says…

HSBC Acquires Troubled Silicon Valley Bank (SVB) UK Subsidiary for £1, Shares Down Today

HSBC’s announcement came at a time the United States government announced a $25 billion bailout of struggling Silicon Valley Bank and Signature Bank to avoid a further banking crisis. In a stunning turn of events, HSBC Holdings Plc (NYSE: HSBC) has announced that its United Kingdom subsidiary has acquired troubled Silicon Valley Bank  (SVB) UK Limited for £1. According to the announcement, the assets and liabilities of the parent companies are excluded from the transaction, which was funded from the company’s existing resources. How the transaction only came to £1…

Bitcoin and Ether Price Jumps Over 9% as Fed and FDIC Come at SVB Depositors’ Rescue

The Fed and the FDIC have assured depositors that they could withdraw money from Silicon Valley Bank thereby instilling some confidence among crypto investors. In the early trading hours on Monday, March 13, the broader cryptocurrency market made a strong comeback surging past $1 trillion levels once again. This surprise rally in the crypto space came as the top three US regulators – the Federal Reserve (Fed), US Treasury, and FDIC – stepped in to control the unfolding crisis in the US banking sector. Earlier last week, the Silvergate Bank…

NYDFS Taking Over Signature Bank as SVB Fails

The decision to take over Signature Bank was made to reduce depositor outflows and prevent further bank runs. The New York Department of Financial Services (NYDFS) has taken over the crypto-friendly bank, Signature Bank, to safeguard depositors’ funds and preserve confidence in the US economy. After the collapse of Silicon Valley Bank (SVB) due to a bank run, mid-sized banks like First Republic and Signature Bank floundered as fears of a financial crisis increased. First Republic saw its stock plummet by 15%. Also, Signature Bank saw its stocks lose about…

Filecoin’s FIL Token Gains 18% Ahead of Network Upgrade

FIL reached a high of $6.20 on Monday, up 18%, according to CoinDesk data. That put the token up 15% for the month. Bitcoin (BTC), meanwhile, has risen just 1% this month, while ether (ETH), the second-largest cryptocurrency, has chalked up a 3% gain. The wider crypto industry has also struggled over the last month, with the overall market cap dropping below the $1 trillion mark. Source

Filecoin’s FIL Token Gains 18% Ahead of FVM Deployment

FIL reached a high of $6.20 on Monday, gaining 18%, according to CoinDesk data. This also puts the token up 15% on the month. Bitcoin (BTC), meanwhile, has risen just 1% this month, while ether (ETH), the second-largest cryptocurrency, has chalked up 3% gains. The wider crypto industry has also struggled over the last month, with the overall market cap dropping below the $1 trillion mark. Original Source AheadDeploymentFILFilecoinsFVMGainsToken CryptoX Portal

BTC Back Above $22,000 as Silicon Valley Bank Depositors Are Rescued – Market Updates Bitcoin News

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Bitcoin moved back above $22,000, as the U.S. Treasury moved to avert a regional banking crisis, following the collapse of Silicon Valley Bank. The government confirmed that it will backstop depositors’ funds, giving full access to their capital. Ethereum also moved higher on the news. Bitcoin Bitcoin (BTC) rose back above $22,000 on Monday, as the U.S. Treasury confirmed it will backstop depositors’ funds. This will be for both Silicon Valley Bank and Signature Bank, which become the second and third biggest banking failures in U.S. history. Following a low…