Month: May 2024

CEO of Loka Mining on Bitcoin’s DeFi possibilities

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Speaking to crypto.news in an interview, Andy Fajar Hardika, CEO of Loka Mining, discussed the evolution of decentralized finance (defi) on the Bitcoin network. On April 19, 2024, Bitcoin mining rewards were slashed in half. Mining a block will now generate only 3.125 BTC, compared to the previous 6.25 BTC. Although the Bitcoin halving happens every four years or so this year, it’s really got industry participants talking about how the reduced rewards will affect the mining economy. With each halving event, mining firms have to adapt to a lower-margin…

UK Labour Party Is Winning the Most Seats in Local Elections, Trumping Crypto-Friendly Conservatives

About a third of the country’s local councils went to the polls on Thursday, with more than 2,600 seats up for grabs. With results in from 40 of the 107 councils, Labour had won 360 council positions, a gain of 62, while the Conservatives lost 147 for a total of 129, falling behind the Liberal Democrats, BBC data shows. Many of the other results, including the London mayoral election, may not be known until tomorrow or even Sunday. Source

$120 Million Futures Liquidated As Price Takes A Beating

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The recent dip in the price of Bitcoin below the $59,000 support level has sent jitters through the cryptocurrency market. While the price drop triggered liquidations in futures markets, analysts warn that a more significant decline could be on the horizon in the absence of a full-blown market capitulation. Measured Retreat, Not Mass Exodus Following the price drop, CryptoQuant, a cryptocurrency analysis platform, reported roughly $120 million in liquidated long positions (bets that the price would go up). This liquidation is noteworthy, but unlike previous selloffs at the same support…

Bitcoin Miner Riot Platforms Records Modest Revenue Gain Despite 36% Decrease in Mined BTC

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Riot Platforms Inc., an integrated bitcoin mining company, reported revenues exceeding $79.3 million in the first quarter of 2024. The revenue increase was slight, rising from $73.2 million to $79.3 million. Remarkably, this was achieved even as Riot Platforms experienced a 36% decrease in the number of bitcoins mined, down to 1,364. Modest Growth Noted […] Original

Announces $1,000,000 Creator and Community Member Grants & Bybit IDO – Blockchain News, Opinion, TV and Jobs

Zurich, Switzerland, May 3rd, 2024, Chainwire Galaxis is preparing for this month’s token launch on Bybit, with the first phase commencing through the IDO. To further enhance this launch, Galaxis has announced a substantial $1,000,000 Community Creator and Community Member Grant Program. This initiative incentivizes both community creators and members for active engagement in the Galaxis ecosystem. Galaxis, known for its partnerships with Mike Tyson, Steve Aoki, and the NBA, promotes the Web3 creator movement by offering a platform for creators to benefit from their work. The platform’s distinctive feature…

Kraken’s CF Benchmarks hits 50% dominance on crypto ETF market

Kraken’s CF Benchmarks achieves dominance in the crypto ETF market with $24 billion in reference data, gears up for expansion amid unprecedented demand surge. CF Benchmarks, a branch of the cryptocurrency exchange Kraken, is making big gains from this year’s rise in spot Bitcoin exchange-traded funds (ETFs). The firm, which provides price data for the ETFs, is now handling about $24 billion worth of crypto ETFs, according to a Bloomberg report, representing roughly half of the crypto benchmarking market. CF Benchmarks CEO Sui Chung said in an interview the firm…

Crypto Exchange Coinbase (COIN) Had a Blowout First Quarter: Analysts

“While we believe investors must remain level-headed around the ebbs and flows of enthusiasm into the industry, which often coincide with fluctuations in price, we see a number of underlying trends supporting our positive thesis that Coinbase will be a relevant player in virtually all aspects of the crypto economy,” JMP analysts led by Devin Ryan wrote. Source

CZ sentenced and SBF’s deal: April’s crypto crime round-up

Do Kwon remains in a tug-of-war between the U.S. and South Korea. Meanwhile, prosecutors are continuing to clamp down on crypto mixers. April’s been a pretty significant month when it comes to crypto crime. Where else to start than with Changpeng Zhao, who has been sentenced to four months in prison after enabling money laundering at Binance. He will now become the richest man ever sent to prison — but critics claim there’s been an “egregious miscarriage of justice” given prosecutors had been seeking three years. It’s a stark contrast…