Tag: Digital

HIVE Digital stock rallies over 9% as Bitcoin miner bolsters crypto reserves to 2.5k BTC

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Canadian Bitcoin mining company HIVE Digital has released a June financial report, revealing it has increased its reserves to 2,503 BTC stored on the balance sheet. HIVE Digital Technologies, the Vancouver-based Bitcoin mining company, seems unaffected by the recent miner capitulation that caused Bitcoin (BTC) to plunge below the $56,000 mark. In a Jul. 8 press release, the company revealed that as of Jul. 7, its crypto holdings on the balance sheet had increased to 2,503 BTC, a more than 2% increase compared to the prior month. In total, HIVE…

First Digital Debt Offering Fails to Get Traction in El Salvador

The first digital debt offering registered in El Salvador has reportedly failed to gather the necessary interest to continue. The issuance, intermediated by Bitfinex Securities to build a Hilton hotel at El Salvador International Airport, raised $342,000 from interested investors, less than the $500,000 needed to continue before the first established deadline. Bitfinex Securities stated […] Source CryptoX Portal

Opera’s Minipay Expands Stablecoin Support: Adds USDC and USDT to Its Digital Wallet

Minipay, an integral feature of the Opera Mini browser, has announced a significant upgrade with the introduction of ‘Pockets’. This new feature now supports USDC and USDT, two of the most widely used stablecoins, thereby enhancing its existing digital asset management capabilities. The innovative ‘Drag & Swap’ feature simplifies the process of switching between USDC, […] Source CryptoX Portal

Tether to Drive Digital Asset Education in Turkey

Crypto industry leader, Tether Operations Limited, and technology and strategy company, BTguru, have entered into a Memorandum of Understanding (MoU) to assess digital assets educational initiatives in Turkey (Türkiye). The MoU aims to develop comprehensive programs introducing stakeholders to blockchain and peer-to-peer technology, and explore real-world asset tokenization use cases for banks. This collaboration could […] Source CryptoX Portal

Bitcoin miner Genesis Digital Assets eyes IPO in US: report

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Alameda-backed crypto miner Genesis Digital Assets is reportedly in discussions with advisors about launching a pre-IPO funding round within the coming weeks. Genesis Digital Assets (GDA), a Bitcoin mining firm headquartered in Texas, is considering an initial public offering (IPO) in the U.S., despite significant investment from the now-disgraced hedge fund Alameda Research, founded by Sam Bankman-Fried. According to a Bloomberg report, the company is actively engaging with advisors to expedite its IPO plans, targeting a pre-IPO funding round as soon as in the “coming weeks.” It remains unclear if…

Paxos Gains Full Approval From Singapore’s Monetary Authority for Digital Token Services

Paxos has secured full approval from the Monetary Authority of Singapore (MAS) to offer digital payment token services, positioning Singapore as a key player in Paxos’s global stablecoin operations. The approval permits the issuance of stablecoins compliant with MAS’s forthcoming regulatory framework. DBS Bank Named Main Banking Partner as Paxos Secures MAS Approval Paxos, a […] Source CryptoX Portal

Digital Assets See Outflows for 3rd Consecutive Week

Coinshares reported consecutive weekly outflows in digital asset investment products, totaling $30 million. Ethereum faced its worst year-to-date net flows with $61 million in outflows, while multi-asset and bitcoin ETPs saw inflows of $18 million and $10 million, respectively. Regional inflows occurred in the U.S., Brazil, and Australia, contrasted by outflows in Germany, Hong Kong, […] Source CryptoX Portal

Marathon Digital stock price gains as crypto market moves higher

Marathon Digital Holdings Inc., (MARA) was up more than 11% early Monday afternoon as crypto stocks rose sharply to mirror Bitcoin (BTC) gains. After struggling with bearish pressure amid miner and government wallets selling, bitcoin price broke to above $63k on July 1. While the flagship cryptocurrency pared gains to return below this mark, the positive sentiment that had also pushed altcoins higher cascaded into the crypto stocks market. BTC traded around $63,182 at the time of writing, up 2.8% in the past 24 hours. Analysts suggest Bitcoin could be…

Treasury and IRS Announce Digital Asset Tax Reporting Regulations

The U.S. Department of the Treasury and the IRS have released final regulations for tax reporting on digital asset sales, as part of the Biden-Harris administration’s implementation of the Infrastructure Investment and Jobs Act. Additionally, the Treasury and the IRS revealed that they anticipate issuing further rules later this year to establish reporting requirements for […] Source CryptoX Portal