A $1 million Bitcoin (BTC) price bet has been closed out 97% under its target price, with its backer Balaji Srinivasan choosing instead to donate a total of $1.5 million to three different entities as a settlement. On May 2, Srinivasan, the former chief technology officer at Coinbase, said the bet had been “closed out…
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Block, a financial services and technology company owned by former Twitter CEO Jack Dorsey has announced it has completed the prototype design of its new five-nanometre (5nm) Bitcoin (BTC) mining chip — which it claims is key to decentralizing the supply of Bitcoin mining rigs. According to a blog post published on April 28, Block…
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Bitcoin (BTC) Ordinals — also known by some as Bitcoin NFTs — could renew developer enthusiasm for Bitcoin and boost mining fees, according to cryptocurrency investment firm Grayscale. In an April 27 “Market Byte” blog post, the firm suggested that Ordinals provide two key benefits to the growth and development of the Bitcoin ecosystem. #Ordinals…
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The former CFO of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million that was used to trade cryptocurrencies and “meme stocks.” An April 27 press release from the Department of Justice (DOJ) said Cooper Morgenthau, the ex-CFO of African Gold Acquisition Corp. (AGAC), embezzled more than…
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A record-breaking $3.4 billion penalty has been handed down by a Judge in a lawsuit brought by a United States financial regulator involving a fraudulent scheme involving Bitcoin (BTC). An April 27 statement from the Commodity Futures Trading Commission (CFTC) said Texas District Court Judge Lee Yeakel ordered Cornelius Johannes Steynberg to pay the sum…
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The home of former FTX co-CEO Ryan Salame has reportedly been searched by the Federal Bureau of Investigation (FBI) as further scrutiny falls on the executive for his close advisory role to Sam Bankman-Fried. An April 27 report from The New York Times, citing people with knowledge of the matter, said the Bureau searched Salame’s…
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Cameron Winklevoss, the co-founder and CEO of New York-headquartered crypto exchange Gemini, has accused United States regulators of perpetrating double standards in handling the First Republic Bank crisis. According to Winkelvoss, if First Republic had been a “crypto bank,” it would have been “assassinated weeks ago.” It is important to note that First Republic initially…
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The price of Bitcoin (BTC) nosedived roughly 7% in just one hour, falling from $29,850 to $27,789, which media outlets reported was due to blockchain analytics firm Arkham Intelligence incorrectly sending out an alert that wallets linked to Mt. Gox and the U.S. government had begun shifting large sums of Bitcoin. Arkham initially tweeted to…
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The price of Bitcoin (BTC) spiked more than 3% in the last 24 hours as fears were sparked of another possible imminent bank failure as First Republic Bank (FRC) shares closed down more than 50% on April 25. According to the Head of Research at Australian crypto education platform Collective Shift, the price of Bitcoin…
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Cathie Wood’s ARK Invest and European crypto investment firm 21Shares are seemingly unperturbed by the cryptocurrency regulatory environment in the United States, again requesting approval for a Bitcoin (BTC)-based financial product. On April 25, the two companies requested that the U.S. Securities and Exchange Commission (SEC) approve the creation of a spot Bitcoin exchange-traded fund…
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