In an attempt to optimize shareholder value, Bitcoin mining firm Stronghold Digital Mining is contemplating selling the firm, as stated in its first-quarter financial report. The sale of “all or part of the company” or other strategic deals involving its assets are among the many options being considered by the
Recent reports indicate substantial withdrawals from the U.S. Spot Bitcoin ETFs. But big money is already jumping on board with these ETFs. Being the second-largest bank in Europe, BNP Paribas is the most recent one. BNP Paribas has put money into the iShares Bitcoin Trust (IBIT) that BlackRock offers. On
Despite missing revenue projections, Bitcoin (BTC) mining business Riot Platforms announced a whopping $211.8 million net income for Q1 2024, up 1,000% year-over-year. The primary driver of the 55.4% year-on-year growth in mining income to $74.6 million, as revealed in Riot’s first quarter earnings announced May 1, was the 131%
Reports indicate that US federal authorities are looking into Block, Inc., Jack Dorsey’s fintech startup, after the disclosure of papers by a whistleblower that claimed the company’s payment divisions, Square and Cash App, were involved in extensive and persistent compliance breaches. According to NBC News’ May 1 report, a former
Using Ordinal-based inscriptions to store and retrieve information, MicroStrategy—the biggest corporate holder of Bitcoin—will create a decentralized identification solution on the Bitcoin network. Similar to how actual people’s identities are not associated with Bitcoin addresses or transactions, decentralized identifiers (DIDs) will provide anonymity. Open-source and Not Reliant on Sidechains Moreover,
In the first quarter of 2024, the crypto sphere found itself navigating turbulent waters, with Bitcoin’s highly anticipated halving event failing to produce the expected bullish momentum. The onset of may brought with it a continuation of this bearish sentiment, as Bitcoin plummeted to a two-month low of $56,486, marking
Bitcoin’s (BTC) price took a significant hit, dipping below the $60,000 mark and settling around $57,000 amidst concerns of further decline. The downturn was worsened by substantial outflows from US spot Bitcoin ETFs, exceeding $500 million on May 1st. This sell-off intensified following the Federal Reserve’s (Fed) announcement, led by
The third meeting of the Federal Open Market Committee (FOMC) for 2024 is already underway, and it will have a major impact on the American economy. Today, May 1, at 2 PM European Time (11:30 PM Indian Standard Time), the meeting that began on Tuesday, April 30, is expected to
Distress grips the global crypto market as Bitcoin (BTC) sinks to $56K, slamming the brakes on its momentum within the $62K-$66K zone. From its all-time high (ATH) of $73,750 in March, the largest-capped crypto has retreated by 23% to hit its 2-month low of $56,555. Consequently, crypto liquidations in the
The crypto community is becoming more worried as inflows to BlackRock’s spot Bitcoin ETF have paused for many days in a row, marking the first such occurrence since the fund’s introduction. In the US, the iShares Bitcoin Trust (IBIT) of BlackRock, which is the fastest-growing spot Bitcoin ETF, has not
