32202
Stay informed with timely and objective news content relevant to the crypto industry, published daily by Bitcoin.com News.
Remember Tamagotchis? Crypto’s latest craze is similar to that – but with an exciting twist. PlayDoge (PLAY) is nearing the $6 million mark in presale, mixing old-school pixel pets with a P2E game that’s unlike anything else on the market. Earn Crypto By Feeding Your Virtual Pet with PlayDoge Have you ever wished your childhood […]
https://news.bitcoin.com/nostalgic-p2e-meme-coin-playdoge-trends-in-6m-presale-how-high-can-play-go/
The Nigerian government has been urged to abandon a floating foreign exchange system and reintroduce subsidies in the power and energy, agriculture, and transportation sectors. In a communique, the Multidisciplinary Finance Professionals (MFP) said the Nigerian government should not determine the value of the naira. Instead, the group said the West African nation should opt […]
https://news.bitcoin.com/group-urges-nigeria-to-end-naira-float-reinstate-subsidies/
Based on the latest data, spot bitcoin exchange-traded funds (ETFs) experienced net outflows of $148.56 million on Tuesday. Conversely, spot ether ETFs saw a positive inflow of $98.30 million during the same period. $148M Vanishes From Bitcoin ETFs While Ethereum ETFs Rake in $98M On Aug. 6, as the crypto market began to recover from […]
https://news.bitcoin.com/us-bitcoin-etfs-bleed-148-56m-while-ethereum-etfs-cash-in/
Metaplanet, a Japanese firm, has announced a $70 million stock rights offering aimed at significantly boosting its Bitcoin investments. With $58.76 million of the raised funds earmarked for bitcoin, this strategic move is part of Metaplanet’s broader plan to expand its cryptocurrency holdings and hedge against currency depreciation. The company, which currently holds around 246 […]
https://news.bitcoin.com/metaplanet-announces-70-million-stock-rights-offering-to-further-boost-bitcoin-investments/
The U.S. Securities and Exchange Commission (SEC) has opposed Coinbase’s motion to compel discovery in a case where the SEC alleges Coinbase violated federal securities laws by failing to register its operations and services. Coinbase’s extensive discovery demands include internal SEC communications, inter-agency communications, and all documents related to digital assets, which the SEC deems […]
https://news.bitcoin.com/sec-challenges-coinbases-extensive-discovery-requests/
Despite clearly articulating reasons for de-dollarization in the Global South, African leaders will struggle to convince residents to embrace national currencies without changing economic management practices. People often lose confidence in a currency when a central bank excessively prints money to pay debts and other obligations. De-Dollarization Hype Not Backed by Practical Action Sometime in […]
https://news.bitcoin.com/de-dollarization-faltering-in-africa-because-citizens-lack-confidence-in-their-national-currencies/
Bob Burnett, CEO of Barefoot Mining, a bitcoin mining company providing off-grid “wild” mining services, has declared that wars will be fought over Bitcoin blockspace. In a recent interview, Burnett stated that as bitcoin becomes critical to companies and nation-states, the value of Bitcoin blockspace will be treated as an essential scarce commodity. Barefoot Mining […]
https://news.bitcoin.com/barefoot-mining-ceo-wars-will-be-fought-over-bitcoin-blockspace/
A report by FUNDE, an investigative organization in El Salvador, has highlighted that the Salvadoran economy will grow less this year due to a decrease in public investment in infrastructure. Additionally, FUNDE claimed that the purchasing power of Salvadorans is being affected by rising inflation, which is one of the highest among dollarized economies. FUNDE […]
https://news.bitcoin.com/report-states-salvadoran-economy-slowed-purchasing-power-down-as-bukele-fights-inflation/
Monday marked a severe downturn in financial markets, with sharp selloffs in stocks, cryptocurrencies, and precious metals. However, JPMorgan analysts see a potential “buy the dip” opportunity as the rotation out of tech stocks might be nearing its end. John Schlegel, JPMorgan’s head of positioning intelligence, indicated that their Tactical Positioning Monitor might drop further, […]
https://news.bitcoin.com/jpmorgan-sees-buy-the-dip-opportunity-after-market-selloff/
PRESS RELEASE. Get ready for the 2024 Summer Olympic Games with MyStake’s exciting new promotion: the 2024 Summer Olympic Games Leaderboard! From July 23, 2024, at 11:00 AM GMT to August 12, 2024, at 11:00 AM GMT, you can climb the leaderboard by betting on your favorite Olympic events and compete for a share of […]
https://news.bitcoin.com/mystake-hosts-2024-summer-olympic-games-leaderboard/
On Tuesday, following a sharp downturn the day before, the top five U.S. benchmark indices made a recovery. However, Airbnb, the prominent vacation rental company, reported that it does not foresee a strong third quarter due to a slowdown in demand, driven by ongoing economic concerns. Meanwhile, Danielle DiMartino Booth, a former advisor at the […]
https://news.bitcoin.com/ex-fed-advisor-suggests-us-is-already-in-a-recession-as-airbnb-cautions-on-economic-slowdown/
Over the past 12 days, the stablecoin economy has maintained a similar value, yet the supply of dollar-pegged crypto assets PYUSD and USDE has experienced notable shifts. Over the last 22 days, Paypal’s PYUSD supply increased by more than 70%, while Ethena’s USDE saw an 8.82% decrease within the past 13 days. Ethena’s USDE Drops […]
https://news.bitcoin.com/stablecoin-market-sees-pyusd-supply-swell-while-usde-shrinks-with-redemptions/
Genesis Digital Assets Limited (GDA) has embarked on a new project in Norsjö, Sweden, utilizing surplus heat from one of its bitcoin mining data centers to warm a local garage. This collaboration with Swedish company Muttern Fastigheter showcases an innovative approach to enhancing energy efficiency within the industry. GDA and Muttern Fastigheter Collaborate on Sustainable […]
https://news.bitcoin.com/bitcoin-miner-genesis-digital-assets-launches-heat-repurposing-project-in-sweden/
A group of Democrat lawmakers, including Massachusetts Senator Elizabeth Warren, has penned a letter to Commodities and Futures Trading Commission (CFTC) Chairman Rostin Behnam, urging the agency to prohibit all forms of election-related gambling in the United States. This appeal is timely, as Polymarket, a blockchain-based platform for real-time prediction markets, has gained traction with […]
https://news.bitcoin.com/us-lawmakers-push-for-cftc-action-against-election-gambling-amid-polymarkets-rise/
Indian crypto exchange Wazirx has updated users about the recent cyberattack, confirming the filing of a First Information Report (FIR) to address the hack. Cofounder Nischal Shetty emphasized that a police complaint was made the day after the attack. The FIR, filed nearly 20 days later, is part of an ongoing investigation by the Delhi […]
https://news.bitcoin.com/wazirx-announces-fir-filing-following-major-cyberattack/
The latest report from onchain analysis firm Glassnode highlights a significant market downturn, marked by a 32% decline in bitcoin’s value, the largest drawdown of the current cycle. The study underscores the critical impact of this downturn on investor sentiment and the broader market dynamics. Glassnode Report: Bitcoin’s 32% Plunge Signals Mid-Cycle Market Low Glassnode‘s […]
https://news.bitcoin.com/bitcoin-faces-mid-cycle-wipeout-as-markets-plunge-glassnode-report/
PRESS RELEASE. The crypto market today can be a bit of a rollercoaster ride. Prices can shoot up on one day, and take a deep dive on the next – all while new projects are popping up in their droves daily. With such a fast-moving environment, it’s not enough to have a groundbreaking idea. You […]
https://news.bitcoin.com/coinband-driving-exponential-growth-for-crypto-and-web3-projects/
According to one expert, bitcoin currently needs to trade above $55,000 for miners to break even and $94,000 for them to return to profitability levels seen before the halving. To compensate for the revenue loss caused by the halving of Bitcoin’s block reward, miners are resorting to mergers or hostile takeover of rivals. Others have […]
https://news.bitcoin.com/block-reward-cut-miners-must-stake-bitcoin-plug-into-depins-to-offset-revenue-loss/
Ethereum co-founder Vitalik Buterin recently shared an update on social media, summarizing the latest research on Ethereum block-building as of August 7, 2024. Buterin highlighted a consensus among researchers that having multiple actors contribute transactions to be included in a block is beneficial. However, there remains an open debate on whether it is possible to […]
https://news.bitcoin.com/vitalik-buterin-sees-light-at-the-end-of-the-tunnel-for-ethereum-block-building-research/
PRESS RELEASE. Singapore, 7 August 2024 – KIP Protocol, the Web3 base layer for AI, announces the unanimous approval of its OCP-12 DAO proposal. This landmark decision allocates $10 million to KIP Protocol to reshape education through AI and Web3 technologies. In a strategic collaboration with Open Campus, KIP Protocol aims to impact over 250 […]
https://news.bitcoin.com/kip-protocols-10m-dao-proposal-approved-to-transform-education-for-250-million-students-globally/
Lubbock police in Texas have reported a notable increase in bitcoin-related scams, with victims losing significant amounts of money. Over the last few months, 20 to 30 individuals have come forward to report scams involving gift cards and bitcoin transactions. Scammers typically target the elderly, claiming their accounts have been compromised and require verification. Victims […]
https://news.bitcoin.com/surge-in-bitcoin-scams-hits-lubbock-police-warn/
The Brazilian Securities Regulator (CVM) has begun sending letters to tokenization companies, inquiring about the nature of their operations. According to local reports, these letters require issuers to disclose which tokens were issued, their purported classification, and the assets supporting the issuance of such tokens. Brazilian Securities Regulator CVM Investigates Tokenization Companies’ Activities The Brazilian […]
https://news.bitcoin.com/brazilian-securities-regulator-cvm-initiates-inquiry-into-tokenization-operations/
The Homeland Security Investigations New York has charged Michael Lauchlan for running a fraudulent cryptocurrency recovery service, Coin Dispute Network (CDN), that scammed customers out of their ethereum. Lauchlan convinced clients he could recover lost cryptocurrencies but pocketed the fees and took additional ethereum. He was arrested in Las Vegas. Fraudulent Cryptocurrency Recovery Business Operator […]
https://news.bitcoin.com/fake-crypto-recovery-service-operator-arrested-and-charged/
Economist and gold advocate Peter Schiff argues that bitcoin exchange-traded funds (ETFs) contradict the core principles of the cryptocurrency by undermining decentralization and peer-to-peer transactions. He criticizes recent buyers of bitcoin for focusing solely on profit, suggesting this behavior indicates an impending collapse. Schiff also slammed Senator Cynthia Lummis’ bill proposing a U.S. bitcoin reserve, […]
https://news.bitcoin.com/peter-schiff-warns-against-owning-bitcoin-etfs-cites-not-your-keys-not-your-coins/
Despite a severe market downturn, the world keeps turning, the show must go on, and I must still attend the Asian Blockchain Summit (ABS). It’s been quite interesting so far. Crypto Market Turmoil Doesn’t Extinguish Enthusiasm at ABS As I flew to Taipei to attend the Asia Blockchain Summit (ABS), traditional markets and the crypto […]
https://news.bitcoin.com/asia-blockchain-summit-2024-day-one-initial-thoughts/
Coinshares, a leading European digital asset investment firm, reported strong financial performance in the second quarter of 2024, highlighted by a significant increase in revenue and adjusted EBITDA. The company also navigated market challenges, including the impairment of its Flowbank investment, while achieving a profitable sale of its FTX claim. Coinshares Reports 133% EBITDA Growth […]
https://news.bitcoin.com/digital-asset-manager-coinshares-reports-strong-q2-2024-earnings/
Popular bug bounty platform Immunefi has found that the global cryptocurrency ecosystem suffered increased hacks and frauds in the second quarter of 2024, losing $572.7 million. According to a recent report, this is a 112% increase compared to the same period last year. Immunefi noted that the two largest exploits of the year were responsible […]
https://news.bitcoin.com/immunefi-report-reveals-alarming-112-rise-in-crypto-hacks-and-frauds-in-q2-2024/
On Aug. 5, 2024, global crypto trade volume surpassed $200 billion, and current 24-hour statistics show approximately $148.26 billion in volume has been finalized the following day. Data reveals that Binance, the leading crypto exchange by trading volume, experienced inflows of $1.2 billion over the past day. Binance CEO Richard Teng noted that this “marks […]
https://news.bitcoin.com/crypto-market-volatility-fuels-1-2b-inflows-at-binance/
PRESS RELEASE. The cryptocurrency gaming sector is witnessing an intense rivalry between two notable titles: Hamster Kombat and Lovely Legends. As the competitive landscape evolves, industry experts are increasingly recognising Lovely Legends as the more promising and innovative contender for both gaming enthusiasts and cryptocurrency investors. Unprecedented Airdrop Initiative In an unparalleled move, Lovely Legends […]
https://news.bitcoin.com/crypto-gaming-showdown-why-lovely-legends-is-set-to-outshine-hamster-kombat/
Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such scrutiny in India. A source claimed that Binance earned over Rs 4,000 crore from transaction fees […]
https://news.bitcoin.com/binance-hit-with-87-million-tax-bill-in-india/