Tag: Million

AI-Focused Cryptogpt Raises $10 Million in Series A Funding to Expand Into Asian Markets – Blockchain Bitcoin News

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A Layer two (L2) project, called Cryptogpt, which leverages ZK-rollup technology and artificial intelligence (AI), has announced that its team has raised $10 million in capital from a Series A funding round. The crypto and AI firm disclosed that the new funds would be used to expand into the largest Asian markets, and the company now has a valuation of $250 million. Cryptogpt Startup Raises $10 Million; Startup Now Has a $250 Million Post-Valuation Artificial intelligence (AI) has become a popular subject in 2023 as AI projects, such as Midjourney…

Huobi Realizes $30 Million Q1 2023 Profit amid Restructuring Plans

Following its Q1 2023 profit, Huobi expects an even bigger net income haul of $110 million for the second quarter. Crypto exchange Huobi reportedly made a tidy $30 million in profit for Q1 following a restructuring. The Seychelles-based company’s return to profitability came after cutting down its workforce and benefits accruable to employees. According to Huobi Global’s de facto owner Justin Sun, the exchange realized a quarterly revenue of $150 million against $120 million in expenditures. Sun further explained that Huobi took “a large number of measures were taken to reduce costs…

Ordinal Inscriptions Surpass 1 Million Mark, Miners Collect $4.7M in Fees as Bitcoin NFT Trend Continues – Bitcoin News

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On April 8, 2023, the number of Ordinal inscriptions surpassed the million mark as the non-fungible token (NFT) trend has seemingly become a mainstay. Presently, on Sunday, April 9, the total number of Ordinal inscriptions is 1,049,263, and so far, 169.85 bitcoins worth $4.7 million have been collected in fees. Ordinal Inscriptions Reach 1 Million This weekend, Ordinal inscriptions reached a milestone by surpassing the 1 million mark on Saturday, April 8, 2023. Ordinal inscriptions started to see significant demand after the mining pool Luxor mined Bitcoin block No. 774,628,…

SushiSwap approval bug leads to $3.3 million exploit

A bug on a smart contract on the decentralized finance (DeFi) protocol SushiSwap led to over $3 million in losses in the early hours of April 9, according to several security reports on Twitter.  Blockchain security companies Certik Alert and Peckshield posted about an unusual activity related to the approval function in Sushi’s Router Processor 2 contract — a smart contract that aggregates trade liquidity from multiple sources and identifies the most favorable price for swapping coins. Within a few hours, the bug led to losses of $3.3 million. It…

NFT Sales Rise 7.28% to $179.64 Million in 7 Days, Nakamigos Takes the Top Collection Spot  – Bitcoin News

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Sales of non-fungible tokens (NFTs) increased this week, with $179.64 million in sales over the last seven days. NFT sales rose 7.28% and transactions grew by 2.29% during this period, but the number of digital collectible buyers decreased by 4.34%. NFT Sales Improve This Week, Rising 7.28% Higher Sales of non-fungible tokens (NFTs) have trended higher this week, increasing by 7.28%, with $179.64 million in sales recorded over the past seven days. Of the total sales, $111.62 million, or 62.35%, came from NFT sales on the Ethereum blockchain, cryptoslam.io stats…

South Korean Prosecutors Uncover Alleged $314 Million Criminal Proceeds Tied to Terraform Labs Co-Founders – Bitcoin News

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According to a report by South Korean news publication KBS, Do Kwon, the co-founder of Terraform Labs, has converted a “large part” of his assets into bitcoin. Prosecutors in South Korea believe that Kwon’s purported bitcoin stash was transferred to an international exchange. Report Says Do Kwon Allegedly Sold a ‘Large Part’ of His Assets for Bitcoin A report by KBS journalist Jieun Lee details that South Korean prosecutors have discovered 414.5 billion won ($314 million) in alleged criminal proceeds tied to employees of Terraform Labs. The report indicates that…

Ukraine Dismantles $40 Million Russian Crypto Pyramid – Bitcoin News

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Ukrainian law enforcement has exposed a financial pyramid originating from Russia suspected of making millions of U.S. dollars. The scam convinced victims to send fiat money and cryptocurrency by promising profitable investments in big companies around the world. Large Crypto Pyramid Scheme With Russian Roots Busted in Ukraine Officers from the Security Service of Ukraine (SBU) have unraveled a fake investment scheme called ‘Life Is Good,’ the agency announced on Tuesday. The fraudsters behind it offered potential clients to multiply their money by acquiring shares of global enterprises. The organizers…

India Eyes One Million CBDC Users Over Next Three Months

Sources familiar with the matter said that the architects of the retail CBDC are working to incorporate offline transactions and eyeing half a million users by July. India is one of those top global economies that has been pilot-testing its central bank digital currency (CBDC) aka the Digital Rupee. As per the latest reports, the architects of India’s retail central bank digital currency (CBDC-R) are aiming to scale the user base of the Digital Rupee to a million users. Sources familiar with the matter also told the CoinDesk publication that…

India Targeting One Million CBDC Users in Three Months, Prioritizing Offline Transfers: Sources

India’s digital rupee was the subject of great interest at a recent meeting of the Group of 20 (G-20) hosted by India in Bengaluru, said RBI Governor Shaktikanta Das in a media conference on Thursday. “In fact, an eminent person from the international financial sector went to the extent of complementing the design of our CBDC, adding that the only thing he missed in the CBDC was the smell of new currency.” Source

MicroStrategy Bets Bigger On Bitcoin With $29 Million BTC Scoop

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Summary: MicroStrategy added to its Bitcoin coffers with a $29.3 million BTC purchase, per SEC filing from April 4. The business intelligence firm accumulated 1,045 at an average price of $28,016 per BTC since March 24. Michael Saylor’s firm is the single largest corporate BTC holder with 140,000 tokens, around 0.66% of Bitcoin’s total supply of 21 million coins. Business software firm MicroStrategy accumulated more Bitcoin since March, spending tens of millions of dollars to stack satoshis as crypto’s top coin eyes $30,000. A filing with the U.S. Securities and…