Obviously, nothing was built with the money that was raked in from around the world. What’s interesting, when considering how Lee and Chunga reportedly spent the money, is that the alleged scheme does not even seem very profitable. Sure, they bought cars, property and designer clothing — but, considering the nominal figure raised, it seems like the HyperVerse Ponzi operated for so long because it paid out incoming revenue to existing users. Source
The company has 68 megawatts (MW) of electrical capacity and operates in Watertown, New York; Limestone, Maynardville and Lenoir City, Tennessee mining facilities. According to its latest filing, GRIID expects to expand its capacity to 436MW by the end of 2024. Original
Block, whose companies include Square Inc., Cash App and Tidal, as well as the bitcoin-focused division TBD, said in an earnings call last year that it would reduce its headcount from 13,000 in the third quarter of 2023 to an “absolute cap” of 12,000 by the end of this year. Source
The short-lived reign of Bitcoin as the leading NFT platform came to an end this month, with Ethereum reclaiming the top spot as NFT sales on the Bitcoin network plummeted over 60% compared to December’s record highs. Data from NFT analytics platform CryptoSlam reveals a stark reversal in fortunes. After surpassing Ethereum in December with $881 million worth of NFT sales, Bitcoin’s January volume has sunk to $314 million as of two days before month-end. Meanwhile, Ethereum has maintained a steadier pace, registering $328 million in sales over the past…
A multinational asset management giant has reportedly submitted the first application for a spot Bitcoin (BTC) exchange-traded fund (ETF) in Hong Kong. Harvest Fund Management applied to the Securities and Futures Commission (SFC) of Hong Kong, according to a recent report from the Chinese media outlet Tencent News. Tencent also reports that the regulator hopes to speed up the approval process and have the ETF listed on the Hong Kong Stock Exchange in the next couple of months. The SFC published spot crypto ETF requirements in December. According to the…
Ether (ETH), the second-largest cryptocurrency by market value, could rise nearly 70% from current levels and hit $4,000 by May as applications for spot-based exchange-traded funds (ETF) will likely win regulatory approval in the U.S., Standard Chartered Bank said in a report on Tuesday. Source
Even taking into account slowing but still sizable net outflows at the Grayscale Bitcoin Trust (GBTC), the ETF issuers as a whole added more than 4,200 bitcoin to their holdings worth roughly $183 million yesterday. Last week, daily flows were continuously negative on a daily basis, with roughly 20,000 bitcoin leaving the funds from Jan. 23 to Jan 26. The last previous net inflow day was Jan. 22, when the spot funds as a group added just over 1,200 bitcoin. Original
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. X Mining, a Bitcoin mining infrastructure designed to democratize the process of Bitcoin mining, is launching early access to Bitcoin mining profits. The X Mining stake-to-mine The Bitcoin mining space is full of expensive mining rigs and a lot of technical knowledge that is expensive, complex, and energy intensive. These are the problems the X Mining project is designed to solve using a “stake-to-mine” model that makes mining on…
Skybridge Capital CEO Anthony Scaramucci recently predicted that Bitcoin will hit $170,000. Shedding more light on this prediction, Scaramucci stated when this will happen and why he believes this price level is very attainable. When Bitcoin’s Price Will Hit $170,000 In an interview with Scott Melker, Scaramucci stated that Bitcoin’s price will hit $170,000 after the Bitcoin Halving. Specifically, he hinted that the crypto token was going to rise to this price level 18 months after the Halving event. The Skybridge Capital CEO further explained what he was basing his…
This month’s removal of the investment limit for retail investors in digital tokens backed by real estate or infrastructure marks a significant shift. Previous rules had limited retail investors to 300,000 baht (approximately $8,400) per offering in asset-backed ICOs. Source