Sophia Hernandez

Iceland's Prime Minister has announced plans to reduce cryptocurrency mining due to its high energy use

Iceland’s Prime Minister to reduce crypto mining due to its high energy use

March 25, 2024 1 min read

Iceland’s Prime Minister, Katrín Jakobsdóttir, has announced plans to reduce crypto mining due to its high energy use, surpassing that of Icelandic homes. This aligns with a Bloomberg report highlighting the rise in demand for old Bitcoin mining equipment in places with cheaper electricity, particularly from the US. Iceland is known for its abundant hydro and geothermal energy, making it a prime spot for Bitcoin mining and the top energy

three Ethereum (ETH) whales have transferred around $64 million worth of ETH from centralized exchanges (CEX) Binance and Kraken

Ethereum whales moves $64M worth of ETH from major exchanges

February 28, 2024 1 min read

Recently, three Ethereum (ETH) whales have transferred around $64 million worth of ETH from centralized exchanges (CEX) Binance and Kraken. This indicate a mix of security measures and investment strategies. The transaction that caught the attention of the crypto community involved an investor pulling 14,632 ETH, valued at around $45.5 million, from Binance exchange within a week, and staking the entire sum, indicating a strong belief in Ethereum’s future growth.

The UK has proposed a new legal framework that would treat crypto as property.

The UK proposes legal status for crypto, aiming for clearer protections

February 26, 2024 1 min read

The UK’s Law Commission has proposed a new legal framework that would treat crypto as property. This new framework aims to clarify and safeguard digital assets under the law. The move is reportedly set to strengthen the enforcement of property rights in cases involving crypto, offering better protection for individuals and businesses involved in the crypto market. In addition, the proposed legal recognizes the distinctive characteristics of digital assets like

FTX exchange plans to sell $1B worth Anthropic shares

February 23, 2024 1 min read

FTX, the defunct crypto exchange, has been approved by the Delaware bankruptcy court to sell 7.84% stake in AI startup Anthropic, which is worth around $1.4 billion. According to reports, the sale is expected to add around $1 billion to FTX’s existing $6.4 billion cash. Note that FTX’s former CEO, Sam Bankman-Fried, invested $500 million in Anthropic in April 2022. In addition, the sale is part of a larger scheme

VeChain (VET) price jumps by over 65% over the past week

February 16, 2024 1 min read

The altcoin (other coins than Bitcoin) market has seen a lot of activity during Bitcoin’s recent surge to over $52,000, which was followed by profit-taking. VeChain (VET) is a standout performer in this regard. VET has increased by over 65% in the last 7 days, outperforming many digital assets in the crypto market. VeChain is illustrating a larger trend of gains in the market as it is trading at $0.04809

Bitcoin (BTC) surges past $50,000 for the first time since December 2021

February 12, 2024 1 min read

The price of Bitcoin (BTC), the largest crypto by market cap, has surpassed $50,000 for the first time since December 2021. According to Coinbase data, Bitcoin (BTC) crossed the $50,000 threshold at 11 a.m. Eastern Time (5 p.m. Central European Time) on Monday. BTC has increased in value over the last seven days by more than 15% from its price of less than $22,000 at this time last year. It

Open Exchange (OPNX), formerly known as Coinflex, is ending operations this February

February 2, 2024 1 min read

Open Exchange (OPNX), formerly known as Coinflex, is bidding farewell this February, signaling the end of its era as a hub for crypto derivatives and claims trading. In a message, the OPNX team expressed gratitude to its community while laying out the necessary steps for users as part of the closure process. As part of the shutdown protocol, OPNX urged its users to settle all active positions by 8 a.m.

The US SEC has filed a lawsuit against Sam Lee and Brenda Chunga for alleged involvement in the HyperFund crypto scam

The US SEC sues Sam Lee and Brenda Chunga for $1.7 billion HyperFund crypto scam

January 31, 2024 1 min read

The US Securities and Exchange Commission (SEC) has filed a lawsuit against Sam Lee and Brenda Chunga, also known as Bitcoin Beautee, for alleged involvement in the HyperFund crypto scam worth over $1.7 billion. The SEC accuses them of violating federal laws by promoting deceptive “membership” plans that promised large returns to investors. Note that the duo is accused of misleading investors with false assurances of lucrative profits from HyperFund’s

Bitcoin to surge to over $170,000 after the upcoming halving, SkyBridge Capital founder

January 30, 2024 1 min read

Anthony Scaramucci, founder of SkyBridge Capital, is optimistic about Bitcoin’s future, predicting a surge to $170,000 per coin after the upcoming halving event. The halving, occurring around every four years, halves the rate at which new Bitcoin is produced. Scaramucci, known for endorsing Bitcoin as a superior store of value compared to gold, draws parallels between Bitcoin’s halving cycles and its subsequent remarkable price increases. Reflecting on past patterns, he

Will Solana (SOL) surge above $100 or dip?

January 29, 2024 1 min read

Solana, the high-performance blockchain that drew attention throughout 2023, experienced a day of volatility as it sought the elusive $100 mark. After a rally brought the native token (SOL) within reach, it experienced a slight decline but managed to retain the majority of its recent gains, primarily hovering above $97. Analysts note that $100 has become a critical battleground, with significant selling pressure expected at the century mark. The year

ETF provider Bitwise publishes its Bitcoin addresses for Spot ETF

January 25, 2024 1 min read

Bitwise, an asset management company, has released the Bitcoin addresses associated with its spot Bitcoin exchange-traded fund (ETF). This announcement comes about two weeks after shares of the Bitwise Bitcoin ETF (BITB) became available for trading. Bitwise announced the news via Twitter on January 24, inviting the public to verify the holdings of its Bitwise Bitcoin ETF on the New York Stock Exchange Arca. The provided Bitcoin address revealed a

US Senator defends crypto, urges strong rules against bad actors, and clashes with Warren on laundering