Tag: News

Fugitive Crypto Exchange Founder Faruk Ozer Extradited to Turkey – Exchanges Bitcoin News

boss

Albania has extradited the founder of Turkish cryptocurrency exchange Thodex to his home country where he is charged with defrauding investors. The crypto entrepreneur disappeared after his trading platform unexpectedly went offline in the spring of 2021 and was arrested last year by Albanian law enforcement. Albania Hands Over Alleged Crypto Fraudster to Turkish Authorities Faruk Fatih Ozer, founder and CEO of failed crypto exchange Thodex, was extradited to Turkey by the Albanian Ministry of Justice acting on the order of the country’s Supreme Court. A plane carrying Ozer landed…

BuzzFeed to Shut Down Its News Unit and Lay off 15% of Staff

In addition to closing the news unit and laying off employees, BuzzFeed has also announced that two of its executives are stepping down. Its chief revenue officer Edgar Hernandez and chief operating officer Christian Baesler are leaving the company. BuzzFeed Inc (NASDAQ: BZFD), an American entertainment company that focuses on digital media, has announced a decision to close its news division within the cost-cutting strategy. As BuzzFeed founder and CEO Jonah Peretti has explained, the company “can no longer continue to fund BuzzFeed News” and is planning to make substantial redundancies…

Terawulf Energizes 50 MW at Nuclear-Powered Bitcoin Mining Facility Nautilus – Mining Bitcoin News

boss

Bitcoin mining company Terawulf has announced the full deployment of its 50-megawatt (MW) stake in the nuclear-powered Nautilus Cryptomine facility. The behind-the-meter bitcoin mining facility is powered by 100% nuclear power and benefits from a fixed power cost of $0.02 per kilowatt-hour (kWh), according to the company. Terawulf Fires up 50 MW Zero-Carbon Bitcoin Mining; Aims to Reach 5.5 EH/s of Capacity by Q2 2023 Just over 45 days ago, the bitcoin mining firm Terawulf announced it had energized the Nautilus Cryptomine facility, a carbon-free data center with 24/7 baseload…

Arkansas Makes Gold, Silver Legal Tender; 23 States Involved in Similar Legislation to Establish US Dollar Alternatives – Economics Bitcoin News

boss

A bill signed into law on April 11 has made gold and silver legal tender in the U.S. state of Arkansas, allowing citizens to use gold and silver coins to pay debts. The bill also clarifies that gold and silver “specie” (coins) will not be considered property for tax purposes, and transactions made with these precious metals will not result in tax duties. Arkansas Embraces Gold and Silver as Legal Tender The state of Arkansas has moved to make gold and silver function as legal tender in its territories. The…

Saudi Arabia May Join De-Dollarization Shift as US Dollar Is Now ‘Unreliable and Dangerous’ – Economics Bitcoin News

boss

A University of Tehran professor and member of Iran’s Presidential Delegation to China has stressed the importance of de-dollarization for the international community. “The dollar has been used as a weapon by the U.S. against different countries. It is unreliable and it is dangerous,” the professor warned. Iranian Professor Stresses the Importance of De-Dollarization Professor Mohammad Marandi discussed de-dollarization and Iran’s relations with Saudi Arabia and China in an interview with Chinese government-owned news outlet Global Times, published Wednesday. He is an Iranian American academic who is the University of…

Commodity Strategist Warns US Economy Heading Toward ‘Severe Deflationary Recession’ – Economics Bitcoin News

Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, has warned that the U.S. economy is “heading towards a severe deflationary recession,” emphasizing that the Federal Reserve is still tightening. “Typically, when you have commodities collapsing at this velocity in the past, the Fed has already been easing, and they’re still vigilant against that,” he cautioned. Strategist Says We’re ‘Heading Towards a Severe Deflationary Recession’ Mike McGlone, a senior commodity strategist for Bloomberg Intelligence (BI), the research arm of Bloomberg, warned in an interview with Yahoo Finance Live last week that the…

SAI․TECH Press Conference Reveals Plans to Boost AI and BTC Computing Power, Expand Into Nuclear SMR and DEX Technology – Press release Bitcoin News

PRESS RELEASE. SINGAPORE – SAI.TECH Global Corporation, a clean-tech company specializing in Bitcoin mining, heating, and power industry, hosted its virtual corporate annual conference, SAITIME 2023 on April 20th at 08:30 EST. The virtual conference was hosted by founder & CEO Arthur Lee and was live-streamed on YouTube and Zoom. Live tweets and discussions were also hosted on Twitter. The conference featured the consolidation of the SAIHUB solution, which aims to build a cleaner world through the green transition of the computing industry and the research and promotion of small…

Dollar Dominance Fading Amid Growing China Trade, Russia Sanctions Risks, Ray Dalio Says – Economics Bitcoin News

boss

Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that Western sanctions on Russia have highlighted new risks of keeping dollar assets. ‘Dollar Is Debt,’ Central Banks Are Less Inclined to Hold It The importance of the U.S. fiat in international trade is decreasing and as a result the dominance of the dollar is fading, billionaire investor Ray Dalio said…

Dormant Bitcoin Wallet Linked to Mt Gox Saga Moves $60 Million for the First Time Since 2013 – Bitcoin News

boss

According to onchain data, a bitcoin whale address transferred 2,071.5 bitcoin, worth approximately $60 million, after remaining dormant since December 19, 2013. Interestingly, this bitcoin address is linked to two wallets that sent 10,000 BTC last summer for the first time in nine years and are associated with the now-defunct exchange Mt Gox. 2,071 Bitcoin Spent on Wednesday Linked to the ‘1McUC’ Mt Gox-Associated Address On April 19, 2023, at 4:45 p.m. (UTC), a previously inactive wallet since 2013 moved 2,071.5 BTC. The stash was valued at around $1.36 million…

Bitcoin Miners Contend With Fifth Network Difficulty Increase of 2023 – Mining Bitcoin News

boss

Bitcoin miners are contending with the fifth network difficulty increase since February 24, 2023, following a 1.72% rise on April 20 at block height 786,240. The network’s difficulty now stands at 48.71 trillion, marking a 22.62% increase over the last 55 days since block height 778,176. Bitcoin’s Difficulty Has Risen More Than 22% Since Block Height 778,176 In less than two months, Bitcoin’s difficulty surged by over 22% and reached an all-time high on Thursday, April 20. The current difficulty of 48.71 trillion implies an exceptionally high average hash rate…