Bitfarms, a Toronto-based Bitcoin mining company, recently reported a total revenue of $42 million for the second quarter of 2024. However, this marked a 16% decline quarter-over-quarter. The decrease in revenue is primarily attributed to the reduction in block rewards resulting from the BTC halving event that took place on April 19, 2024. In addition
Crypto
Santiment recently released a ranking of the top digital assets in terms of notable development activity for the last 30 days. Taking the lead in this ranking is Internet Computer (ICP) with an overall score of 570.1. This token is the second-largest in the Artificial Intelligence (AI) realm, boasting a market capitalization of almost $3.5
After a tumultuous weekend that saw Bitcoin’s price drop to a six-month low of $49,500, the cryptocurrency managed to make a strong recovery, surging back to almost $63,000 by Friday morning. This rapid increase in value marked a gain of over $13,000 in less than a week. However, Bitcoin failed to sustain this upward momentum
CoinShares, a leading European investment company, has announced impressive financial results for the second quarter of 2024. The company’s revenue more than doubled from the same period in 2023, with a recorded revenue of £22.5 million ($28.5 million) in Q2 2024, representing a 110% year-over-year growth. After paying taxes, CoinShares’ operations generated profits of £403.9
The past week was a rollercoaster ride for investors of Bitcoin ETFs. Starting on a negative note, nearly $240 million left the eleven funds, marking the worst day in three months. The trend continued with $168.4 million being withdrawn at the beginning of the new week. Grayscale’s GBTC, Ark Invest’s ARKB, and Fidelity’s FBTC were
Celsius, a once-prominent crypto lender, has filed a lawsuit against Tether, claiming that the stablecoin issuer wrongfully liquidated more than $800 million worth of BTC that Celsius had posted as collateral. The lawsuit, filed in the US Bankruptcy Court for the Southern District of New York, alleges that Tether breached its contract with Celsius by
In the late 1990s, during one of Berkshire’s famous shareholder meetings, Charlie Munger emphasized the importance of reaching the first $100,000, calling it a crucial step in financial success. This advice still holds true today, especially in the world of Bitcoin. As of 2024, there are more than 450,000 Bitcoin addresses holding BTC worth $100,000
The recent conclusion to the settlements phase of the trial involving Ripple and the SEC resulted in a much smaller fine than anticipated by the SEC. U.S. District Court Judge Analisa Torres decided on a sum slightly over $125 million, compared to the requested $2 billion fine. This decision led to a significant surge in
Recently, Ripple found itself in the spotlight as the US Securities and Exchange Commission (SEC) fined the company $125 million for violating securities laws. This decision came as a surprise to many, especially considering that the SEC initially sought a much larger penalty of $2 billion. The reduced fine has been seen as a victory
Recently, the Commodity Futures Trading Commission (CFTC) announced that a crypto whistleblower had been awarded over $1 million for providing crucial information. This information enabled the CFTC to take enforcement action against improper trading activities in the digital asset markets. The CFTC’s Director of Enforcement, Ian McGinley, emphasized the importance of identifying unlawful conduct in