Federal Reserve Chairman Jerome Powell has once again reiterated his skepticism towards Bitcoin, emphasizing its role as a speculative asset rather than a functional currency. This perspective was reinforced during his recent address at The New York Times DealBook Summit in Manhattan, where his remarks heightened the ongoing debate surrounding Bitcoin’s legitimacy and potential in
Crypto
MARA Holdings, renowned as the largest Bitcoin mining entity publicly traded on Wall Street, has recently announced an impressive financial maneuver that underscores their commitment to bolstering their cryptocurrency holdings. On December 5, the company revealed that it had successfully closed a substantial $850 million offering of convertible senior notes. This strategic move aims to
In a significant move reflecting the evolving landscape of cryptocurrency, Foundry Digital has announced a 27% reduction in its workforce, impacting 74 employees. This decision aligns with a broader strategic realignment by the company’s parent organization, Digital Currency Group (DCG). The layoffs represent a concerted effort to prioritize essential operations primarily centered around Bitcoin mining,
As Bitcoin grapples with the elusive $100,000 milestone, the altcoin market has showcased remarkable resilience, with Binance Coin (BNB) leading the charge. BNB’s recent performance has been nothing short of spectacular, as it reached an all-time high after a six-month hiatus. Within a mere 24-hour period, BNB skyrocketed by over 22%, achieving a record valuation
Launched in 2019, Pi Network boasts an impressive user base of over 14 million individuals who have engaged with the platform and completed Know Your Customer (KYC) verification. This number is significant, especially considering that Pi Network has always promised to democratize cryptocurrency mining by enabling users to mine digital tokens straight from their smartphones.
The cryptocurrency market has been subjected to intense scrutiny following the spectacular downfall of FTX and Alameda Research. On December 3, a notable event occurred as the U.S. government transferred approximately $33.6 million worth of several cryptocurrencies to two unmarked addresses. The digital assets in question included high-profile tokens such as Ethereum (ETH), Binance USD
The recent life sentence of Stanislav Moiseev, the alleged mastermind behind the infamous Hydra marketplace, marks a significant turning point in the realm of online drug trafficking. Alongside a hefty fine and lengthy prison terms for other members of his operation, the court’s decision highlights the efforts of law enforcement to combat illegal activities facilitated
In a groundbreaking trading session in Asia on Thursday, December 5, Bitcoin’s price surged to an unprecedented high of $103,630, as reported by Tradingview on Binance. This remarkable leap from an intraday low of approximately $95,000 represents a striking increase of over 7% within a mere 12 hours. Bitcoin has now showcased a staggering year-to-date
Recent discussions surrounding Bitcoin trading habits have shed light on a common misconception: the belief that HODLers, or long-term Bitcoin holders, never sell their assets. This notion was challenged by on-chain analyst James Check, who pointed out that these holders do indeed engage in selling. This behavior has significant implications for the market, particularly in
In the world of cryptocurrency, the ideal is to decentralize financial systems and return power to users, away from traditional banking institutions. However, recent events have shown that users of centralized exchanges like Coinbase can often fall into the very pitfalls they sought to escape. One notable incident occurred when Ethereum developer Eric Connor found