Article written by Teererai Mukonavanhu

Bitcoin miners face profitability challenges due to rising production costs

Bitcoin miners face profitability challenges due to rising production costs, forcing many to shut down

1 min read

Bitcoin miners are struggling with increasing production expenses and unpredictable Bitcoin prices, which hinders their ability to generate profits. The mean expense of extracting a single Bitcoin amounted to $83,668, however it experienced a marginal decline to approximately $72,000 by July 2nd. The exorbitant expenses associated with mining have posed a significant challenge for numerous miners to maintain profitability, particularly given the fact that Bitcoin prices are in close proximity

The sovereign data blockchain for AI OpenLedger raises $8 million in its seed round led by Polychain Capital

The sovereign data blockchain for AI OpenLedger raises $8 million in its seed round led by Polychain Capital

1 min read

OpenLedger, a blockchain platform designed for artificial intelligence applications, has successfully secured $8 million in its initial funding round. The funding was primarily spearheaded by Polychain Capital and Borderless Capital. OpenLedger offers an infrastructure that allows users to manage data throughout its lifecycle without requiring permission. This infrastructure empowers developers to design more intelligent and efficient models using data that can be verified. The round of investment also includes participation

This company raises $20M in funding to tokenize AI models and enable decentralized AI oracles

This company raises $20M in funding to tokenize AI models and enable decentralized AI oracles

1 min read

ORA, a provider of verifiable oracle protocols for blockchain-based AI, announced today the successful closing of a $20 million funding round. The investment comes from prominent players in the industry, including Polychain, HF0, and Hashkey Capital. This significant funding injection will fuel ORA’s ongoing development of groundbreaking technology and infrastructure. The team at ORA is dedicated to enabling the tokenization of AI models and fostering a robust decentralized AI ecosystem

MicroStrategy's bitcoin holdings skyrocket to nearly $15 billion

MicroStrategy’s bitcoin holdings skyrocket to nearly $15 billion after acquiring 12,000 more bitcoins

1 min read

During the period from April to June 2024, MicroStrategy has obtained an additional around 12,000 bitcoins, resulting in a total of around 226,331 bitcoins in their possession. These bitcoins are currently valued at nearly $15 billion. The corporation has allocated approximately $8.33 billion to amass its bitcoin holdings, with an average purchase price of $36,798 per bitcoin. The most recent acquisitions were financed by a senior notes convertible offering, originally

Holograph to burn over 1 billion HLG tokens

Holograph to burn over 1 billion HLG tokens

1 min read

Holograph, the protocol for tokenizing assets across several blockchains, has formed a partnership with Halborn, a specialist in web3 cybersecurity, to conduct periodical audits aimed at enhancing the security of the protocol. Halborn was chosen in response to a recent event in which a malicious attacker successfully created new units of HLG, the native token of Holograph. Holograph will publish a comprehensive report that provides detailed information on the occurrence

The SEC refutes Ripple's comparison to Terraform Labs in court, insisting on a $2 billion fine

The SEC refutes Ripple’s comparison to Terraform Labs in court, insisting on a $2 billion fine

1 min read

The US Securities and Exchange Commission (SEC) has denied Ripple’s effort to utilize the Terraform Labs settlement as a means to challenge a proposed $2 billion penalty. The regulator considered the comparison to be invalid because there were substantial disparities between the cases. Ripple contended that the SEC’s request for a $2 billion fine is excessive. They pointed out that Terraform Labs, despite having $33 billion in sales and being

Vitalik says meme coins have practical uses beyond speculation

Ethereum co-founder Vitalik Buterin says meme coins have practical uses beyond speculation

1 min read

Ethereum co-founder Vitalik Buterin has defended meme coins, citing seven practical uses that could integrate them into everyday life. Despite skepticism from the crypto community, Buterin believes meme coins can make positive contributions beyond entertainment and speculation. Critics argue that meme coins lack substantial impact on daily life and should not dominate the crypto conversation. Matthew Gould, founder of Unstoppable Domains, compared meme coins to initial coin offerings (ICOs), highlighting

The FOMC's decision to keep interest rates steady caused over $400 million crypto sell-off

The FOMC’s decision to keep interest rates steady causes over $400 million crypto sell-off

2 mins read

The Federal Open Market Committee (FOMC) convened its fourth policy meeting of the year on June 12 and opted to maintain interest rates at a range of 5.25% to 5.5%. The unforeseen resolution resulted in substantial upheaval in the cryptocurrency market, precipitating steep falls in the value of Bitcoin and Ethereum. The price of Bitcoin sharply declined from $70,000 to $66,000, while Ethereum also saw a comparable drop, leading to

US SEC hints that the agency may be dragging its feet in approving spot Ether ETFs

US SEC Chairman hints that the agency may be dragging its feet in approving spot Ether ETFs

1 min read

Chair Gary Gensler of the US Securities and Exchange Commission (SEC) has suggested that the final authorizations for asset managers to provide Ethereum exchange-traded funds (ETFs) for immediate purchase and sale on exchanges could experience a delay. Gensler said that the SEC may be delaying the approval of spot Ether ETFs, maybe because the commission is taking its time to approve S-1 registration statements. Although the SEC authorized the 19b-4

MicroStrategy Settles $40M Tax Fraud Case

1 min read

Michael Saylor, a supporter of Bitcoin and the creator of MicroStrategy, has successfully reached a $40 million agreement with the District of Columbia. This settlement stands as the greatest ever recovery for cases involving income tax evasion in the district. The settlement was reached using the district’s updated False Claims Act, which provides incentives for whistleblowers to uncover instances of tax evasion. Saylor was accused of avoiding more than $25

BlackRock Flips Grayscale

BlackRock Flips Grayscale: Becomes World’s Largest Institutional Holder of Bitcoin

1 min read

BlackRock, the world’s largest asset manager, has surpassed Grayscale’s Bitcoin Trust (GBTC) in its Bitcoin holdings. BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin ETF launched just three months ago, has accumulated over 288,670 Bitcoins, according to on-chain data. This outpaces GBTC’s holdings, which currently sit at around 287,450 Bitcoins. Rapid Growth for BlackRock’s Bitcoin ETF The rapid growth of IBIT has surprised many analysts. Launched in March 2024, the

Bybit CEO Ben Zhou denies hack and insolvency rumors

Bybit CEO Ben Zhou denies hack and insolvency rumors

2 mins read

Speculation that a major exchange was insolvent concerned the crypto world this week. With mounting worry, users identified Bybit as the exchange in peril. Bybit CEO Ben Zhou denied any hack or insolvency issues on X on Wednesday, assuring investors that the exchange was working regularly. This followed Tuesday claims of imminent bankruptcy, raising concerns of another FTX-like collapse. Arkham Intelligence’s Proof-of-Reserves (PoR) graph dropped from $11 billion to $6

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