Browsing:Bitcoin

Thailand Takes Aim at Facebook Over Alleged Crypto Scam Ads
9 months ago 1 min read

Facebook Faces Potential Shutdown in Thailand Over Alleged Crypto Scam Ad Promotion

The Thai government has reportedly considered taking legal action to shut down Facebook in the country due to its alleged role in promoting fake investment scam ads. The platform is accused of misleading over 200,000 individuals through these scams, prompting authorities to address the security concerns posed by the social media giant. Amidst growing concerns about fake investment scams, Thailand’s Minister of Digital Economy and Society (MDES), Chaiwut Thanakmanusorn, along with other ministry leaders, conducted a meeting on August 21 to discuss Facebook’s involvement in misleading the public. The platform is accused of aiding scammers who exploited the community with

Oman's Ministry of Transport, Communications, and Information Technology (MTCIT) has unveiled an initiative by inaugurating a data hosting and crypto mining center in the Salalah Free Zone.
9 months ago 2 mins read

Oman Launches $350 Million Crypto Mining Center, Making Waves in the Industry

Oman’s Ministry of Transport, Communications, and Information Technology (MTCIT) has unveiled an initiative by inaugurating a data hosting and crypto mining center in the Salalah Free Zone. With an estimated value exceeding RO 135 million (around $350 million), this strategic move marks Oman’s foray into the global cryptocurrency and data hosting arena while contributing to its economic growth. Oman has taken a decisive step by launching its second cryptocurrency mining center, following the announcement of another facility in November 2022 valued at nearly $390 million. This combined investment of $740 million is poised to elevate the nation’s digital economy, create

Glassnode reveals a remarkable surge in the number of Bitcoins held by long-term investors
9 months ago 2 mins read

Long-term Bitcoin investors reach an all-time high of 14.599 million

Glassnode, a leading blockchain analytics company, has unveiled a groundbreaking report that reveals a remarkable surge in the number of Bitcoins held by long-term investors, reaching an all-time high of 14.599 million. This surge, which amounts to a staggering 43,949 Bitcoins (approximately $1.274 billion) added to these wallets in the past week, signifies a profound shift in investor behavior and confidence within the cryptocurrency landscape. Bitcoin addresses that have steadfastly held onto their investments for a minimum of 155 days are now recognized as long-term holders, often affectionately referred to as “HODLers.” Glassnode underscores the historical data, affirming that such

MicroStrategy recently announced a purchase of $361.4 million worth of Bitcoin
9 months ago 2 mins read

MicroStrategy to buy more Bitcoin (BTC)

MicroStrategy, a prominent corporate player in the crypto space, has once again made waves by acquiring a substantial amount of Bitcoin. The company recently announced a purchase of $361.4 million worth of Bitcoin, adding 12,800 BTC to its existing holdings. This move comes as part of MicroStrategy’s ongoing commitment to cryptocurrency investment, with plans to raise even more capital through stock issuance. MicroStrategy’s latest Bitcoin acquisition has elevated its total holdings to an impressive 152,800 BTC, marking a significant increase from 132,500 BTC recorded in February. The company’s decision to bolster its cryptocurrency reserves reflects a strategic approach to harnessing

Bitcoin (BTC) Soars to One-Week Highs
9 months ago 1 min read

Bitcoin Surges to Near $30K as MicroStrategy Reveals Stock Sale, BTC Purchase Strategy

Bitcoin (BTC) showcased a robust surge to reach one-week highs in the $29,700s on Tuesday, driven by the announcement from US software company MicroStrategy regarding its intention to significantly increase its BTC holdings. MicroStrategy unveiled its plans through a filing with the US Securities and Exchange Commission (SEC), indicating its intention to sell up to $750 million worth of stock, with a portion of the proceeds earmarked for additional bitcoin purchases. Having accumulated 152,333 BTC by June 27, MicroStrategy holds approximately 0.0078% of the total circulating supply of around 19.44 million Bitcoin tokens. The company’s journey into bitcoin accumulation commenced

BTC/USD order book on Binance
9 months ago 1 min read

Bitcoin Trading Volume Plunges to Early 2021 Levels, Fueling Concerns of $25K Potential Return

As Bitcoin (BTC) exhibited more sideways behavior, echoing the trend seen during the weekend and the previous week. The lack of significant market-moving events resulted in a brief spurt above $29,500 after the weekly close. However, bulls struggled to sustain momentum, leaving all eyes on the monthly close as a potential trigger for increased volatility. Monitoring resource Material Indicators provided an analysis of the BTC price action, noting that the cryptocurrency briefly surpassed $29,500, but failed to gain enough bullish momentum to advance further. As the month drew to a close, traders remained cautious about a potential trend shift. Material

The US SEC issued a strong cautionary message to investors regarding the cryptocurrency market
9 months ago 2 mins read

SEC Chairman Gary Gensler Warns Investors of Scams in Crypto Market and Addresses Bitcoin ETF Applications

Gary Gensler, the head of the US Securities and Exchange Commission (SEC), recently issued a strong cautionary message to investors regarding the cryptocurrency market, labeling it as “fraught with scams.” Additionally, he addressed concerns about Bitcoin ETF (Exchange-Traded Fund) applications during a television show on Bloomberg. In his statements, Gensler emphasized the speculative nature of cryptocurrencies, the absence of securities laws protection, and the prevalence of scams and scammers in the industry. Let’s delve into the details of his remarks and the implications for investors. Chairman Gensler’s warning reflects the SEC’s vigilance toward the cryptocurrency market’s inherent risks. The dynamic

Kyrgyzstan is set to enter the crypto mining arena
9 months ago 1 min read

Kyrgyzstan to Establish Crypto Mining Farms

Kyrgyzstan is set to enter the cryptocurrency mining arena with a groundbreaking $20 million project, as announced by President Sadyr Japarov. The government will be constructing a state-of-the-art crypto mining farm powered by a Hydroelectric Power Plant. This initiative aims to harness the country’s abundant hydroelectric resources and capitalize on the potential of cryptocurrencies to boost local revenue. Let’s delve into the details of this significant development. According to reports from July 27, President Japarov has given the green light for the construction of a crypto mining farm at the Hydroelectric Power Plant in Kyrgyzstan. This move comes in response

Bitcoin (BTC) experienced a sudden decrease.
10 months ago 1 min read

Why Did Bitcoin (BTC) Drop?

As the crypto market enters the week of the Federal Reserve’s interest rate decision, Bitcoin (BTC) experienced a sudden decrease. Within a one-minute timeframe, Bitcoin’s price plummeted by $700, bringing it closer to the critical $29,000 level once again. This unexpected dump raised concerns and nervousness among investors, who were closely monitoring the cryptocurrency’s performance. At present, the cause of the drop remains unknown, and there is no specific news source attributed to it. However, what’s evident is that the rapid decline triggered a significant surge in liquidations. Within the same one-minute period, approximately $30 million worth of positions in

Bitcoin (BTC) reached a milestone with the mining of Block 800,000
10 months ago 1 min read

Bitcoin Block 800,000 Has Just Been Mined: A Historic Moment in BTC’s Journey

Bitcoin (BTC) reached a milestone with the mining of Block 800,000, marking a historic occasion in its 14.5-year journey. James Check, the lead on-chain analyst at Glassnode, shared fascinating insights on Twitter about the progress of the Bitcoin network up until this point. According to James Check’s analysis, 19.437 million BTC have been created until Block 800,000, with miners getting 268.700 BTC in fees. The all-time Bitcoin miner revenue stands at around $52.593 billion, with the majority coming from block subsidies (94.5%) and a smaller portion from fees (5.5%). Furthermore, Checkmate revealed that around 7.5% of the 19.4 million mined

bitcoin (BTC) making trading under $30K.
10 months ago 1 min read

Bitcoin ($BTC) Trades Under $30K Ahead of Crucial Fed Rate Decision and Options Expiry Date

The crypto market experienced another day of subdued trading, with bitcoin (BTC) trading below $30,000. Meanwhile, other major cryptocurrencies like Ether (ETH) remained relatively steady, while altcoins such as SOL and XRP showed signs of recovery after facing earlier losses. Despite the overall market drudgery, MKR, the governance token of MakerDAO, managed to secure significant gains due to a token buyback program activation. However, not all tokens fared well, as CNC plummeted by 75% following a significant exploit in the Conic Finance decentralized finance protocol. As investors anticipate a possible Federal Reserve interest rate increase and bitcoin options expiry next

XRP Witnesses Remarkable Surge of Over 70% as Judge Favors Ripple in SEC Lawsuit
10 months ago 1 min read

Ripple’s XRP Surpasses Bitcoin in Trading Volume After a 60% Surge Over the Week

XRP, the native token of the XRP Ledger, has taken the cryptocurrency market by storm with a remarkable 60% price surge in just one week. Notably, XRP’s trading volume has skyrocketed to an impressive 21% of the entire market, surpassing Bitcoin’s trading volume, which stands at 20%. The surge came on the heels of a significant legal victory for Ripple, the major player in the XRP space, in its battle against the U.S. Securities and Exchange Commission (SEC). The court ruling declared that XRP is not necessarily a security, igniting bullish sentiments among analysts and projecting potential growth for the

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