The miner will sell up to $100 million common shares under its ATM offering, with Canadian investment firms Canaccord Genuity and Stifel acting as agents. Each exahash of bitcoin (BTC) mining computing power will cost $30 million, so the offering could fund up to 3 EH/s of growth. Source link
A bankruptcy judge has ruled that transfers made as of November 10, 2021 by the cryptocurrency firm BlockFi are void. Therefore, the customers who attempted to retrieve almost $300 million in crypto following the freezing of transfers last year are not entitled to the digital assets. JUST IN: 🇺🇸 Judge rules that BlockFi users gave up legal rights to their BTC by using the platform and all the $300 million of crypto deposits are now property of BlockFi. Take your #bitcoin off exchanges! — Bitcoin Magazine (@BitcoinMagazine) May 11, 2023…
U.S. Treasury Secretary Janet Yellen has warned again about the consequences of the U.S. defaulting on its debt. During a press conference in Niigata, Japan, Yellen stated that this would be a self-inflicted crisis, and urged Congress to act quickly on the matter, stating that defaulting would be an unthinkable outcome on this issue. US Treasury Secretary Janet Yellen Urges Congress to Act Quickly to Avoid Debt Default U.S. Treasury Secretary Janet Yellen has urged Congress to act quickly on the issue of raising the debt ceiling to avoid a…
The CEO of JPMorgan Chase — which recently took over failed First Republic Bank — believes there could be more pain ahead for United States banks if the Federal Reserve goes into crisis mode with overregulation. In a Bloomberg television interview on May 11, JPMorgan Chase Chair and CEO Jamie Dimon said he believes it’s “going to get worse for banks” unless the Federal Reserve takes proactive measures beyond simply creating more regulations. Jamie Dimon speaking on Bloomberg Surveillance. Source: Bloomberg Three major U.S. banks collapsed in just the first…
Prices of the NFT collection have soared in the past two days. Source
A class action lawsuit against celebrities who allegedly promoted the now-bankrupt FTX has scored the cooperation of a former exchange executive — ex-compliance chief Daniel Friedberg. A May 11 proposed amended complaint filed in a Florida District Court from the class action lawyers said Daniel Friedberg provided evidence that promotional activity for FTX originated from Florida. Friedberg was the chief regulatory officer at FTX and the chief compliance officer of FTX US, the exchange’s United States arm. The declaration could potentially rebut a key defense made by some of the…
Taboo, an entertainment platform that prioritizes user privacy and is censorship-resistant, has raised $10m at a $250m valuation. TABOO’s blockchain content creation and distribution Taboo offers users a secure environment to share their thoughts and ideas without fear of surveillance or censorship. The platform leverages blockchain technology and cryptographic protocols to keep user data private and secure while enabling users to retain full control over their data. Additionally, Taboo uses its native TABOO token to incentivize content creators and facilitate on-chain transactions. The successful fundraising highlights the potential of Taboo’s unique value proposition.…
A project to build two large-scale facilities for cryptocurrency mining is underway in the United Arab Emirates (UAE). The high-tech data centers will rely on a full immersion solution to cool the power-hungry miners as the desert climate renders air-cooled mining infeasible, participants said. Advanced Crypto Mining Facilities in Abu Dhabi to Defy Cooling Challenges in Arab Peninsula Marathon Digital Holdings, a leading U.S.-based crypto mining company, and emerging blockchain infrastructure developer Zero Two, are working to launch what they say will be the Middle East’s first immersion bitcoin mining…
In recent years, both blockchain technology and cloud computing have been two notable trends shaping the digital landscape. Blockchain, which originated as the underlying technology for cryptocurrencies, has evolved into a versatile solution that can support various use cases beyond finance. Meanwhile, cloud computing has changed the way businesses and individuals utilize and store data, enabling them to access vast amounts of computing resources without having to invest in on-premises infrastructure. While blockchain and cloud computing may seem like two distinct technologies, they share some common features and complementary strengths.…
Memecoin buyers are playing the crypto-equivalent of Powerball — with many “playing” hoping for “life-changing money” yet only a few will walk away with the jackpot, says Matrixport’s head of research. Memecoins have seen a huge resurgence over the last week. Crypto tokens such as Pepe (PEPE) and Milady (LADYS) have boasted staggering price surges despite each having little to no discernable utility. Speaking to Cointelegraph on May 10, Matrixport’s Markus Thielen suggested some buyers of memecoins bear resemblance to those that participate in the lottery. “There are numerous studies…