Power Play: Hut 8 Nets $150M to Conquer AI—What’s Next?
North American Bitcoin mining firm Hut 8 has made headlines with a significant financial milestone, announcing a $150 million strategic investment from Coatue. This investment, structured as a convertible note, is set to catalyze Hut 8’s ambitious expansion into the AI infrastructure market. As the demand for AI compute capacity continues to rise, outstripping the […]
Canada Proposes First North American Solana ETF
The landscape of cryptocurrency investment is poised for further expansion with the recent proposal for a Solana ETF in Canada. 3iQ, a prominent Canadian investment fund manager, has filed to launch The Solana Fund (QSOL), marking it as potentially the first Solana exchange-traded product in North America. This announcement comes on the heels of the […]
Ethereum’s Market Dynamics and Emerging ETF Interest
Ethereum has recently seen a 3% decline, bringing its value to $3,480. This slip is part of a broader trend observed by analysts at Wintermute, who described the cryptocurrency as being range-bound between $3,200 and $3,400. This price range has become crucial for traders utilizing the Iron Condor strategy in derivatives trading—a tactic that profits […]
Bitcoin Dips Amid German Asset Dump
Bitcoin experienced a notable drop on Friday morning, shedding about 3.5% of its value in the last 24 hours, bringing it down to approximately $64,700. This decline is part of a larger trend that has seen the cryptocurrency lose nearly 9% over the past two weeks, with fears of volatility intensifying. The recent downturn in […]
Jump Crypto Invests Heavily in Pro-Crypto PAC for 2024 Elections
Jump Crypto has significantly increased its investment in a political action committee (PAC) dedicated to promoting pro-crypto candidates in Congress, with a new $10 million contribution. This brings the total donation from the Chicago-based investment firm to $15 million. As of Wednesday, this funding boost has helped the affiliated PACs, including Fairshake, amass nearly $169 […]
Kraken Resolves Critical Bug Allowing Free Money Exploit
Kraken, a major cryptocurrency exchange, recently addressed a severe bug that had been lurking in its system for months, enabling users to “artificially inflate their balance.” This flaw was exposed when a security researcher alerted the platform through its bug bounty program on June 9, describing the issue as an “extremely critical bug.” Nick Peroco, […]
Delay and Discontent: The Dogwifhat Saga Unfolds
Nearly three months after successfully raising $700,000, the Solana meme coin project Dogwifhat has yet to fulfill its promise of advertising on the Las Vegas Sphere, leading to unrest among its donors and investors. Despite the impressive start to the year, where the Dogwifhat token saw a 100x increase in price, the ambitious advertising project […]
Ethena Faces Backlash Over Tokenomics Changes
Ethena, a synthetic dollar protocol built on Ethereum, recently announced unexpected modifications to the tokenomics of its governance token, ENA, stirring significant controversy among its community. The announcement, made through a blog post by Ethena Labs—the entity behind the protocol—outlined changes aimed at better aligning the growth of its dollar-pegged stablecoin USDe with the governance […]
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