With the value of Bitcoin continuing to soar over the weekend, mining revenue for BTC reached an all-time high. On March 9, the seven-day moving average of miner profits reached $68.28 million, according to statistics from The Block. This surpassed the previous record of $67.15 million, set in May 2021.
March 12, 2024 1 min read
In his proposed budget for the year 2025, Joe Biden, the president of the United States, has brought back the concept of a 30% tax on the power used by cryptocurrency miners. As stated in the U.S. Department of the Treasury paper “General Explanations of the Administration’s Fiscal Year 2025
March 12, 2024 2 mins read
In the week ending March 8, Cathie Wood led ARK Invest sold more than 580,000 shares of Coinbase (COIN), a cryptocurrency exchange, for a total of $149.85 million, as the stock closed at $256.62 on Friday. Three of ARK’s exchange-traded funds (ETFs)—Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation
March 11, 2024 1 min read
With its strategic alliance with the Dubai Police for its customized blockchain solutions, the Cardano Foundation is well on its way to becoming a Middle Eastern crime fighting front. The Dubai World Police Summit, which recently came to an end, was the venue for the Police to unveil a data
March 11, 2024 2 mins read
U.S. investment losses in 2023 were mostly attributable to crypto-related investment fraud, according to the Federal Bureau of Investigation (FBI). Investment losses associated with cryptocurrency jumped 53% from $2.57 billion in 2022 to about $3.94 billion in 2023, according to a new report from the FBI. At the same time,
March 9, 2024 1 min read
Grayscale Investments, an asset management business, has launched a new staking fund in addition to its spot Bitcoin ETF. The Grayscale Dynamic Income Fund (GDIF) is a recently established cryptocurrency staking fund that was detailed in a post on twitter. An announcement from Grayscale states that this is their first
March 6, 2024 1 min read
Binance, a cryptocurrency exchange, has been fined $10 billion by the Nigerian government for making money via “illegal transactions,” according to Bayo Onanuga, a special advisor to President Bola Tinubu. In a Friday interview with the BBC, Onanuga revealed the monetary fine. In recent months, the government’s position on the
March 1, 2024 1 min read
While individual users are much more positive on bitcoin, a recent analysis from Bybit research indicated that institutions are over-allocating their capital to ethereum (ETH). According to Bybit, ether is now the one asset that institutions own the most of, and this might be due to an expected price increase
February 27, 2024 2 mins read
The impending Dencun upgrade, which will boost throughput and decrease the cost of certain network transactions, may have contributed to Ethereum’s recent price increase, according to asset manager Grayscale Investments. However, many market watchers are relating the rise in prices to optimism surrounding the potential approval of a spot ether
February 25, 2024 1 min read
On Thursday, Kraken filed a motion to dismiss the case, claiming that the U.S SEC had not charged fraud and had instead stretched the meaning of a contract in its lawsuit. With the argument that cryptocurrencies—or at least those included in the SEC’s complaint—should be classified as commodities rather than
February 23, 2024 2 mins read