On Tuesday, two Bitcoin-centric layer two (L2) initiatives successfully secured funding from strategic investors. Botanix Labs, a startup focused on developing a decentralized Turing-complete L2 EVM (Ethereum Virtual Machine), garnered $11.5 million. Meanwhile, the Bitcoin L2 ZKM attracted $5 million during a pre-seed investment phase. Bitcoin L2 Projects Gain Momentum With New Financing Rounds Throughout […]
Canaan Inc. has launched the Avalon A15 series, with the new product being the A1566 model. This upgraded bitcoin mining machine incorporates Canaan’s most advanced technology. The A1566 model sets a new performance benchmark with an industry-leading energy efficiency ratio of 18.5 joules per terahash (J/T), 185 terahash per second (TH/s) of hashing power, and […]
Franklin Templeton, a global investment behemoth, has praised the development and growth of Base, the Coinbase-incubated Ethereum L2. On social media, the company declared that Base had “hit a home run” due to its popularity with meme coins and socialfi applications, including the pioneering app in the space, Friend.tech. Franklin Templeton Praises Base’s Performance, Comments […]
Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around […]
Metaplanet, a Tokyo-listed public company, has unveiled a “bitcoin first” strategy to combat the Japanese economy’s weakness and the yen’s devaluation. In a document shared on social media, the company stated it will adopt bitcoin as a reserve asset, taking advantage of the available possibilities for increasing its holdings. Metaplanet Announces Bitcoin First Approach, Unveils […]
Coinbase, one of the largest U.S.-based cryptocurrency exchanges, reported a system-wide outage in its services, affecting customers’ crypto operations. On its status site, Coinbase stated that it was aware that “some users may experience failures when sending crypto or withdrawing fiat,” and declared it was working to fix this issue. Later, the exchange recognized experiencing […]
The Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a joint investigation by the Durham Regional Police Service (DRPS) and the OSC. Aiden Pleterski, self-proclaimed “Crypto King,” is charged with fraud over $5,000 and laundering […]
Bitfarms Ltd., a global bitcoin mining company, has announced the immediate termination of Geoffrey Morphy as president and CEO, along with his removal as a director. Following his dismissal, Morphy filed a lawsuit against the company, seeking $27 million in damages for alleged breach of contract and wrongful dismissal. Bitfarms is set to defend against […]
Barry Sternlicht, CEO of Starwood Capital Group, has voiced concerns about the vulnerability of regional and community banks in the U.S. to high interest rates and inflation, particularly amid the commercial real estate downturn. He forecasted frequent failures of these banks, predicting: “You’re gonna see your regional bank fail every week, maybe two a […]
The Justice Department has designated Forensic Risk Alliance (FRA) as the external monitor for Binance Holdings Ltd. This decision comes in the wake of Binance’s acknowledgment of breaching U.S. anti-money laundering regulations and sanctions. Bloomberg’s Ava Benny-Morison and Chris Strohm were the first to report this development. Known for its expertise in fraud investigations and […]
The decentralized lending protocol built on the Solana blockchain, Marginfi, announced the upcoming launch of YBX, which is expected to be the first notable decentralized stablecoin on Solana, aiming to provide an alternative to the network’s heavy reliance on Circle’s centralized stablecoin usd coin (USDC). The stablecoin, backed by SOL-based liquid staking derivatives (LSDs), is […]
U.S. Congressman Gabe Amo (D-RI), along with Congressmen Brad Sherman (D-CA) and Gerald E. Connolly (D-VA), sent a letter to U.S. Treasury Secretary Janet Yellen regarding the Moscow-based cryptocurrency exchange Garantex. They expressed concerns that Garantex is reportedly facilitating sanctions evasion and funding Russia’s invasion of Ukraine. The letter cited reports indicating that $20 billion […]