Coolpad Ventures into Bitcoin Mining with $13.5 Million Investment
Coolpad Group, a prominent Chinese telecommunications provider based in Shenzhen and listed on the Hong Kong Stock Exchange, has announced a significant investment in Bitcoin mining. According to a recent filing, the company has allocated approximately $13.5 million for the purchase of Bitcoin mining rigs, marking a substantial pivot towards cryptocurrency within its business model. […]
Crypto ETF Expansion: A Mix of Greed and Opportunity
According to Tether and WAX co-founder William Quigley, the momentum behind cryptocurrency ETFs in the United States is set to accelerate, spurred by Wall Street’s insatiable greed for new, profitable products. Following the approvals of spot Bitcoin and Ethereum ETFs, Quigley forecasts a rapid proliferation of similar products for other major cryptocurrencies like Solana and […]
Riot Platforms Increases Stake in Bitfarms Despite Rejected Takeover Bid
Riot Platforms, a major player in the Bitcoin mining industry, persists in acquiring shares of Bitfarms even after its initial takeover bid was turned down. Toronto-based Bitfarms labeled Riot’s April offer, which valued the company’s shares at $2.30 each, as undervaluing the company. This rejection came despite Bitfarms’ share price standing at $2.81 just before […]
MicroStrategy Upsizes Note Offering to $786 Million to Boost BTC Holdings
In a bold move to expand its Bitcoin portfolio, MicroStrategy announced an increase in its offering of unsecured senior convertible notes from the initially planned $500 million to a whopping $700 million. This figure could further escalate to $786 million if initial purchasers exercise their option to buy additional notes. The announcement, made on Friday […]
UwU Lend Suffers Second Hack Amidst Reimbursement Efforts
UwU Lend, a decentralized finance (DeFi) protocol, has been targeted once again by the same hacker who orchestrated a $20 million exploit on June 10. The protocol was in the process of reimbursing users when the attacker struck again, stealing an additional $3.7 million. Cyvers, a blockchain security firm, alerted users to the ongoing exploit […]
Bitcoin Miners Face Pressure Post-Halving
The Bitcoin mining industry is feeling the impact of the post-halving adjustments, with transaction fees plummeting, thereby reducing overall revenues and squeezing margins for miners. According to on-chain analytics firm CryptoQuant, miners have begun offloading their Bitcoin holdings in recent weeks, with the cryptocurrency’s price oscillating between $69,000 and $71,000. CryptoQuant analysts have identified an […]
Michael Egorov Reaffirms Commitment to Curve Amidst Financial Setbacks
Michael Egorov, the founder of Curve Finance, has recently faced significant financial turbulence with the liquidation of over 100 million regular CRV tokens due to margin calls. Despite this, Egorov has expressed his unwavering commitment to the project, emphasizing that his exposure is now primarily through vote-escrow (ve) CRV tokens, which align his interests closely […]
Parallel Launches on Epic Games Store, Expands NFT Game Reach
Parallel, a competitive card game that integrates non-fungible tokens (NFTs), made its debut on the Epic Games Store this Wednesday, significantly broadening its potential user base. The Epic Games Store, a major platform in the PC gaming market, boasted a user base of 270 million by the end of 2023, including 75 million monthly active […]
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