The US Supreme Court will review a case involving Nvidia’s crypto mining revenue, potentially shaping shareholder lawsuits. Nvidia’s Alleged Misleading Statements Shareholders claim that Nvidia’s CEO, Jensen Huang, concealed the significant role of crypto mining in the company’s revenue growth in 2017-2018. They argue that Nvidia downplayed the dependence on mining sales, exposing the company…
Current Price Action Ethereum has been trading sideways, but is up 5% from last week’s lows. It needs to break above $3,700 for further gains. Spot ETF Approval The SEC is expected to approve the first spot Ethereum ETF soon. This has created optimism among investors. Impact on Prices Some analysts believe that the spot…
Memecoin Sell-Offs As the cryptocurrency market experiences a downturn, blockchain tracking firm Lookonchain has observed significant sell-offs by memecoin traders. One trader with a substantial position in Pepe (PEPE) liquidated their holdings for 366.5 ETH ($1.27 million) after holding for only a month. Despite initially seeing a profit of $670,000, the trader held on until…
Data Center Demand Surge The global race for AI dominance has led to a surge in demand for data centers, pushing industry giants to capacity. Bitcoin miners, with their powerful computing and data storage capabilities, could become beneficiaries of this demand. AI Assistants and Crypto Virtual assistants like Siri have limited complex task completion capabilities….
Crypto analyst Ali Martinez reports that Ethereum (ETH) whales have been aggressively accumulating ETH, purchasing over 700,000 tokens worth approximately $2.45 billion in the past three weeks. Bullish Signal on Daily Chart Martinez highlights a bullish signal on Ethereum’s daily chart, indicating a potential bounce. The Tom DeMark (TD) Sequential indicator suggests a rebound of…
Crypto expert DonAlt predicts that Bitcoin (BTC) may need a boost from the stock market to reach new record highs. Stock Market Correlation Despite positive developments in the crypto world, Bitcoin has lagged behind the stock market. DonAlt believes that BTC’s momentum could hinge on the performance of the S&P 500 index. “If the S&P…
To prevent tax dodging in the crypto industry, Malaysia’s tax authority (IRB) has launched “Ops Token.” This operation, with help from the police and cybersecurity experts, targeted businesses in the Klang Valley suspected of hiding their crypto transactions. Details of the Operation Ten locations were raided to prevent “tax revenue leakages” from crypto exchanges. The…
Former Speaker of the House Paul Ryan proposes a bold solution to the looming national debt crisis: integrating cryptocurrencies, specifically dollar-backed stablecoins, into the US economy. Stablecoins: A Solution to the Debt Auction Crisis Ryan argues that stablecoins could prevent a catastrophic failure in the next debt auction, which could damage the US’s global credibility…
Bitcoin vs. Altcoins Renowned finance author Robert Kiyosaki, known for his bestseller “Rich Dad Poor Dad,” has declared Bitcoin the simplest route to millionaire status. The “Easiest Way” to Become a Millionaire Kiyosaki believes that becoming a millionaire through entrepreneurship requires “intelligence, dedication, and luck.” In contrast, he prefers investing in Bitcoin because it “does…
The Biden Administration and Congressman Ro Khanna will host a roundtable discussion on Bitcoin and cryptocurrencies in Washington, D.C., this July. This move signals the growing importance of regulating and innovating in the digital asset space. Keeping Crypto Innovation in the US The roundtable aims to explore ways to keep blockchain innovation and Bitcoin within…
