In a surprising turn of events, a Bitcoin mining device known as Bitaxe, with a modest hashrate of 500 gigahashes per second (Gh/s), managed to successfully mine a block on July 24. This remarkable feat earned the lucky miner a substantial reward of $206,000 in Bitcoin. The device, produced by D-Central Technologies, is surprisingly compact,
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The legal battle between Ripple and the United States Securities and Exchange Commission (SEC) has been ongoing for quite some time now. With the trial phase starting in April 2024, the case has seen both parties presenting necessary information and documents, adhering to court rules, and waiting for a resolution. Despite being in its final
The second day of trading for the spot Ethereum ETFs painted a different picture compared to the initial excitement. More than $133 million were withdrawn from the largest financial vehicles, causing a ripple effect in the market. The price of the underlying asset, Ethereum, reacted with a significant drop of 10% in just one day.
The crypto industry has been facing various challenges under the current administration, as discussed by Andreessen Horowitz founders Ben Horowitz and Marc Andreessen. They openly criticized the Biden-Harris Administration’s handling of the cryptocurrency sector, pointing out regulatory hurdles that are hindering innovation and growth. The lack of clear guidance from the Securities and Exchange Commission
Cynthia Lummis recently released a report opposing the Biden administration’s proposed 30% excise tax on the energy consumed by Bitcoin miners. Lummis argues that this tax could have severe repercussions on the growing Bitcoin mining industry in the U.S. She believes that the concerns about environmental pollution and risks to the energy grid are unfounded
BitcoinOS (BOS) developers recently achieved a monumental milestone in blockchain history by successfully verifying the first-ever zero-knowledge proof (ZKP) on the Bitcoin mainchain. This breakthrough paves the way for significantly enhanced scalability and functionality for Bitcoin without the need for modifications to its underlying consensus code. The final verification of the ZK proof took place
In recent developments, the once-defunct cryptocurrency exchange Mt. Gox has begun repaying creditors impacted by the 2014 hack. This move has sparked interest and speculation within the crypto community, particularly regarding the potential impact on the market. Initially, there were concerns among crypto investors that the repayment of Bitcoin and Bitcoin Cash to Mt. Gox
Crypto exchange Bitstamp has taken a significant step towards returning recovered digital assets to creditors of the now-defunct Mt. Gox exchange. This development marks a crucial milestone in the decade-long struggle to compensate those impacted by the notorious 2014 hack that eventually led to the collapse of Mt. Gox. Bitstamp is just one of the
The much-awaited Ethereum ETFs have finally made their debut in the market, signaling a significant milestone for Ethereum and other altcoins. Industry experts and enthusiasts are closely monitoring how these ETFs could potentially influence Ethereum’s price movements in the upcoming months. One prominent figure in the crypto space, known as Doctor Profit, has made a
The recent price action of Ethereum has been consolidating above the 100 and 200-day moving averages, indicating a bullish trend in the market. After breaking above the critical 100-day moving average at $3,354, Ethereum entered a phase of sideways fluctuation, lacking clear direction. This period confirms the breakout and suggests an equilibrium between buyers and