Bullish Predictions Cathie Wood, CEO of Ark Invest, remains optimistic about Bitcoin’s future. She recently predicted that the cryptocurrency could reach $1.5 million by 2030, surpassing her previous estimate of $3.8 million. Emerging Market Adoption Wood believes that Bitcoin’s adoption in emerging markets, such as Nigeria, is a major driver of its growth. She cites…
Iceland, known for its breathtaking landscapes and renewable energy, is making a shift. The country is now focusing on food production instead of cryptocurrency mining. Why the Change? Iceland wants to become more self-sufficient and secure its food supply. Crypto mining, while using renewable energy, isn’t as important as sectors that directly benefit Icelanders. Benefits…
Advocacy for Bitcoin ETFs Bivu Das, Managing Director of Kraken UK, believes Bitcoin ETFs are essential for establishing the UK as a crypto hub. They offer a regulated and accessible way for investors to gain exposure to Bitcoin’s price movements. FCA’s Cautious Approach However, the Financial Conduct Authority (FCA) remains cautious. In 2021, they banned…
Preparing for the Bitcoin Halving The Bitcoin halving, where mining rewards are cut in half, is approaching. To stay profitable, US miners are upgrading their equipment. Why Machines Are Leaving the US Luxor Technology reports that 600,000 S19 series mining rigs are being moved out of the US, primarily to Africa and South America. These…
Chainlink (LINK), a decentralized oracle network, has emerged as the leader in recent crypto development activity, according to data from analytics firm Santiment. Key Findings Chainlink leads with an average of 451.23 GitHub events over the past 30 days. Cardano (ADA) follows closely with 444.7 events. Status (SNT) ranks third with 434.5 events. Optimism (OP)…
Allegations of Interest Rate Rigging Eight major financial institutions, including JPMorgan Chase and Bank of America, have agreed to pay $70 million to settle a decade-long lawsuit alleging widespread fraud and collusion. The whistleblower, Edelweiss Fund LLC, accused the banks of inflating interest rates on municipal bonds to generate millions in illicit profits. The bonds,…
Growth Signals Despite its price underperformance and regulatory uncertainty, Ethereum (ETH) is showing signs of growth, according to market intelligence firm IntoTheBlock. Increased Volume: The amount of ETH transferred on its mainnet has reached its highest point since May 2022. Layer-2 Adoption: The amount of ETH on layer-2 scaling solutions recently surpassed 10 million for…
Hackers who stole millions of dollars from the Heco Bridge have been laundering their ill-gotten gains through Tornado Cash, a crypto mixer. Laundering Millions Blockchain security firm PeckShield reports that the hackers have transferred over $145 million worth of Ethereum (ETH) to Tornado Cash in the past eight days. Heco Bridge Heist In November, hackers…
New Deadline: May 30, 2024 The SEC has pushed back the deadline for its decision on Grayscale’s Ethereum Futures ETF. The original deadline was March 31, but it has been extended to May 30. Reasons for the Delay: The SEC says it needs more time to review the proposed rule change and the issues it…
As Sam Bankman-Fried, the former head of FTX, prepares for his prison sentence, the US government has requested permission to sell two jets linked to him. Prosecutors Seek Jet Sale Prosecutors have asked the court to authorize the sale of two luxury jets, a Bombardier Global 5000 and an Embraer Legacy. They argue that selling…
