Bitcoin

Senator Lummis proposes a Strategic Bitcoin Reserve to cut the $36 trillion US debt

February 4, 2025 2 mins read

Senator Cynthia Lummis has proposed a Strategic Bitcoin Reserve to address the US national debt, which stands at $36 trillion. She believes that Bitcoin’s growth in value could help reduce this debt significantly over the next twenty years. Lummis argues that this reserve would fix financial errors made by previous generations and ease the economic burden on younger Americans. In a recent interview, Lummis stated that a Bitcoin reserve could

Donald Trump’s World Liberty Financial faces a loss of over $50 million

February 3, 2025 1 min read

Donald Trump‘s new tariff system is causing turmoil in global markets, especially in the cryptocurrency sector. In the early hours in Asia, Bitcoin (BTC) and Ethereum (ETH) saw significant drops, with BTC falling over 6% and ETH plummeting more than 20%. In just 24 hours, the crypto market experienced over $2.2 billion in liquidations, leading to a total market cap decline of more than 11%. The impact of Trump’s tariffs

Coinbase users lose over $150 million in social engineering scams

February 3, 2025 1 min read

ZachXBT, a blockchain analyst, has reported that Coinbase users have lost at least $150 million due to social engineering scams. One victim lost a staggering $11.5 million in Bitcoin on Base, Coinbase’s layer-2 network. This situation raises serious concerns about the security of this major US cryptocurrency exchange. On January 31, ZachXBT highlighted another significant theft. A user lost 110 cbBTC, which is Coinbase’s wrapped Bitcoin, after falling for a

Bitcoin Drops Below $91K With Over $200 Billion Liquidated

February 3, 2025 1 min read

Major cryptocurrencies like Bitcoin (BTC), Ether (ETH), Solana’s SOL, and XRP saw significant declines as trading began in Asia. By mid-morning in Hong Kong, Bitcoin dropped 11%, falling below $91,000. Ether fell nearly 20%, trading at $2,500, while Solana decreased by 13% to $184. XRP experienced the largest drop, down 28% and trading at $2. Recent data from CoinGlass revealed that around $200 billion in long positions were liquidated in

Arkansas Senate rejects a bill to ban crypto mining near military bases

February 2, 2025 2 mins read

The Arkansas Senate recently voted against Senate Bill 60, which aimed to restrict cryptocurrency mining near military bases. The bill was rejected with a vote of 6-1, allowing mining operations to continue in these areas despite concerns about security. If the bill had passed, it would have required unlicensed mining operations to shut down unless they had permits obtained before December 31, 2024. It also sought to stop new mining

Tether Reports $13B Profit for 2024

February 2, 2025 1 min read

Tether, the company behind the popular stablecoin USDT, reported impressive profits of $13 billion for the last year. This marked a record year for the firm. A significant portion of these profits, about $7 billion, came from their extensive holdings in U.S. Treasuries and repurchase agreements. Additionally, the company earned $5 billion from the increased value of its gold and bitcoin investments. Other investments contributed another $1 billion to the

Bitcoin drops below $100K as Trump imposes Tariffs on Canada, Mexico, China

February 2, 2025 1 min read

Donald Trump has started imposing tariffs as he promised during his campaign. He has set a 25% tariff on most imports from Mexico and Canada, and a 10% tariff on goods from China. These tariffs took effect on Tuesday. In his Executive Order, Trump stated that the ongoing flow of illegal opioids and drugs is harming the nation. He believes it is putting lives at risk and straining healthcare and

Could OFFICIALMAGACOIN.COM Follow XRP and BITCOIN to Massive Profits?

February 2, 2025 3 mins read

Introduction Bitcoin (BTC) has long been the yardstick of success in the crypto market, but the evolving landscape highlights opportunities for newer players. XRP and Solana (SOL), with their impressive ecosystems, are still favorites among seasoned investors. Now, OFFICIALMAGACOIN emerges as the next big thing, gaining momentum and attracting attention from crypto holders of all stripes. With its rapidly growing presale success and exclusivity, the question is clear: Will OFFICIALMAGACOIN

US Marshals Miss Deadline on Silk Road Bitcoin Report

February 2, 2025 1 min read

The US Marshals Service (USMS) missed a deadline to provide information to Senator Cynthia Lummis about Bitcoin seized from the Silk Road case. Senator Lummis expressed concerns over the planned sale of about 69,370 Bitcoin, worth around $7 billion. She worried this could lead to financial losses for taxpayers and conflict with previous policies from the Trump administration. In her letter, Lummis pointed out that the USMS had previously sold

MicroStrategy launched its convertible preferred stock offering

February 2, 2025 1 min read

MicroStrategy, a business intelligence company, recently announced a significant stock offering. On January 30, the company sold 7.3 million shares of its 8% Series A perpetual strike preferred stock, known as STRK. The public offering price was set at $80 per share. This amount is nearly three times the initial plan of 2.5 million shares. The company expects to raise about $563.4 million from this offering. MicroStrategy plans to use

Kraken exchange to delist USDT and several other stablecoins

February 2, 2025 1 min read

Kraken crypto exchange will delist Tether (USDT) and four other stablecoins in the European Economic Area (EEA). This decision is in response to new regulations under the Markets in Crypto-Assets (MiCA) framework. The delisting will happen in phases, with the process ending on March 31, 2025. The stablecoins being delisted include PayPal USD (PYUSD), Euro Tether (EURT), TrueUSD (TUSD), and TerraUSD (USDT). The delisting will start on February 13, 2025.

Pro-crypto Super PAC Fairshake raises $116 million for the 2026 midterms

February 1, 2025 2 mins read

Fairshake, a pro-crypto Super PAC, has raised $116 million for the 2026 midterm elections. Major donors like a16z, Coinbase, and Ripple have significantly increased their contributions. This funding aims to influence the political landscape in favor of cryptocurrency. The specific Senate races Fairshake will target remain uncertain. However, the political climate has changed. After Kamala Harris lost despite supporting crypto, anti-crypto sentiment in Congress has decreased, although some opponents still