The European Commission said it had opened formal proceedings to investigate X — formerly Twitter — over content related to the terrorist group Hamas’ attacks against Israel. In a Dec. 18 notice, the commission said it planned to assess whether X violated the Digital Services Act for its response to misinformation and illegal content on…
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Publicly traded Bitcoin (BTC) mining firm Cipher Mining (CIFR) is scaling operations with a new mega-purchase of cryptocurrency mining devices. Cipher will buy 37,396 units of Antminer T21 miners from the Chinese crypto mining giant Bitmain under a new agreement, the firm announced on Dec. 18. The new mining equipment to be bought is expected…
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Ripple CEO Brad Garlinghouse has publicly announced the company’s intent to support “pro-crypto’ candidates during the 2024 United States election season. The company is among a group to have pledged a total of $78 million to support the Fairshake political action committee (PAC). Fairshake announced that prominent industry firms and players had contributed to a significant…
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The Canadian Bitcoin mining firm Hut 8 has signed an interim agreement to launch a new mining site in Cedarvale, Texas, in connection with the Celsius Network bankruptcy proceedings. Announcing the news on Dec. 18, Hut 8 said that the mining site will house almost 66,000 miners and will be powered by more than 215…
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While the crypto community eagerly awaits the possible approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States, some ETF analysts are warning this could potentially trigger unwanted consequences for cryptocurrency exchanges. Several industry observers have predicted that a spot BTC ETF could start trading in early 2024, an event that, paired…
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In the three months ending Oct. 31, defunct crypto exchange FTX has been burning through approximately $53,000 every hour on bankruptcy lawyers and advisers, the latest round of compensation filings show. Court filings from Dec. 5 to Dec. 16 show that the bankruptcy lawyers have charged at least $118.1 million between Aug. 1 and Oct.…
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Network transaction fees across all blockchains have spiked over the weekend as the Ordinals inscriptions craze continues to push demand for blockspace — not just on the Bitcoin network. Inscriptions on Ethereum Virtual Machine (EVM) chains skyrocketed over the weekend, causing a spike in gas spent on them. On Dec. 16, gas spent on inscriptions…
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The CEO of investment management firm VanEck says he can’t see a world where Bitcoin (BTC) is overtaken as the leading store of value on the internet. “I think it’s impossible for me to imagine some other internet store of value [will] leapfrog Bitcoin,” Jan van Eck said in a Dec. 16 interview with CNBC.…
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Bitcoin’s (BTC) eight-week winning streak is likely to end as the price is down nearly 4% this week. The recent weakness indicates profit-booking by traders but it does not change the short-term uptrend. The pullback will also help reduce the froth that may have been building. After the initial shakeout, strong hands are likely to…
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Bitcoin (BTC) on-chain transaction fees are dividing opinion as the cost of sending BTC skyrockets. Data from statistics resource BitInfoCharts puts the average transaction fee at nearly $40 as of Dec. 17. Commentators: High Bitcoin fees are inevitable The latest wave of Bitcoin ordinal inscriptions have resulted in a fresh wave of elevated transaction fees…
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