CEO Michael Saylor bought the coins for an average price of $31,808. Original
MicroStrategy Buys the Dip, Adds $10M to Bitcoin Treasury
Tag: 10M
Bitcoin price bounces above $32K as MicroStrategy ‘buys the dip’ with $10M
Bitcoin (BTC) showed signs of a resurgence on Jan. 22 after a trip below $30,000 produced fresh buyer support. BTC price seals 8.5% daily bounce Data from Cointelegraph Markets and TradingView showed a stronger trading day for BTC/USD on Friday, with daily gains at 8.5% at the time of writing. The turnaround follows a turbulent 24 hours in which Bitcoin slid to $28,950 — a key level when it comes to support from whales and only its second dip below $30,000 this year. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView At…
Arca secures $10M in Series A funding as traditional financiers back crypto
Arca, an emerging digital-asset manager, has secured $10 million in Series A funding to bootstrap the next phase of its business strategy — one that could bridge the gap between traditional finance and cryptocurrencies. In a Wednesday press release, Arca said the funding round was led by venture capital firm RRE Ventures, with key contributions from Alex Tisch, president of Loews Hotels & Co, and a “coalition of financiers led by Littlebanc Advisors.” Arca sai it will use the funding to enhance its infrastructure and digital service offerings, as well…
‘Low income’ Oyster Protocol founder allegedly has $10M yacht full of gold bars
Amir Burno Elmaani, the founder of the now defunct cryptocurrency scheme Oyster Protocol, has been arrested and charged for what the Department of Justice describes as a “multimillion-dollar tax evasion scheme.” On Dec. 9, the DoJ announced it had unsealed an indictment charging Elmaani, who is also known as “Bruno Block,” with tax evasion. The document also notes separate civil charges filed against Elmaani by the SEC. He was arrested on the same day. The indictment alleges the 28-year-old made “millions of dollars” from selling Oyster Pearl tokens, however failed…
Jack Dorsey’s Square commits $10M to green energy for Bitcoin mining
On Tuesday, payments giant Square announced a major push to go carbon neutral by 2030. As part of the initiative, Square will be dedicating $10 million to its Bitcoin Clean Energy Investment Initiative, which aims “to support companies that help drive adoption and efficiency of renewables within the bitcoin ecosystem.” Square is the firm behind CashApp, which is a major force in bringing crypto to regular users. In today’s announcement, Square identified Bitcoin as “a unique part of Square’s footprint.” Jack Dorsey, CEO of both Square and Twitter, said: “We believe…
Jealous brother claims twin earned $10M in Bitcoin
Many late adopters of Bitcoin often lament the fact they missed out on the chance to purchase coins when the price was under $1,000, $100, or even $1. However, one Redditor says his own situation is even worse as he’s forced to compare his “dumb” decision to invest in silver against his twin brother’s much wiser decision to back Bitcoin. The story — which may be apocryphal given the source is a throwaway account named “TheDumbTwin” — claims the two brothers each received a $100,000 inheritance in 2013 but took…
Ex-Microsoft Dev Gets 9 Years in Prison Over $10M Theft Involving Bitcoin Mixing
A former software engineer at Microsoft received a nine-year prison sentence Monday for an elaborate multi-million dollar criminal scheme involving bitcoin and digital gift cards. Ukrainian citizen Volodymyr Kvashuk, 26, was sentenced in the U.S. District Court in Seattle for 18 federal felonies related to his scheme to defraud Microsoft of more than $10 million. This marks the first case of its kind in the U.S., according to a press release by the Department of Justice. Kvashuk was involved in the testing of an online retail sales platform for Microsoft…
Shenzhen Rolls Out 10M Digital Yuan in Public Giveaway Program
The aim behind the initiative is to allow the citizens to spend the digital yuan. According to Liao Qun, chief economist at China Citic Bank International, the program will spur consumption in Luohu district. Besides, it will stimulate using CBDC in consumers’ everyday lives. Chine is progressing in the development of its central bank digital currency (CBDC), or digital yuan. Earlier, China revealed that the currency was out for testing in various sectors. Last week, one of the country’s fastest-growing city Shenzhen announced a public giveaway program that includes the…
Bitcoin Mining Equipment Maker Canaan Sets $10M Buyback Program
The board of directors of bitcoin mining manufacturer Canaan approved a buyback program Monday for its lagging shares. Original
Garmin Coming Back Online After Hack — Was $10M Crypto Ransom Paid?
Multinational tech company Garmin may have paid some or all of a $10 million crypto ransom to hackers who managed to encrypt the firm’s internal network and take down several of its services on July 23. According to an August 1 report from Lawrence Abrams at Bleeping Computer, Garmin’s IT department used a decryptor to regain access to workstations affected by the initial WastedLocker ransomware attack. The malware took down the company’s customer support, navigation solutions, and other online services. The news outlet reported that the existence of such a…