[ad_1] In a significant setback for the entire crypto industry, the US Securities and Exchange Commission (SEC) has rejected the filing of several firms for Solana ETF submitted by Cboe Global Markets. The SEC’s decision was reportedly driven by concerns over the regulatory status of Solana, with the Commission expressing doubts about whether SOL should be classified as “a security.” Solana ETF Proposals Deemed ‘Dead On Arrival’ According to Bloomberg ETF expert Eric Balchunas, the Solana ETF filings “never made it past Step 2” in the SEC’s review process, referring to the stage where the regulator posts the 19b-4 filings…
Author: dfrancis36
[ad_1] The publicly listed Bitcoin (BTC) miner from Wall Street, Core Scientific (NASDAQ: CORZ), has repaid $267 million in debt using proceeds from its recently closed convertible senior notes offering.Core Scientific Pays Down $267 Million in DebtThe debt repayment includes $150 million in secured notes, $61 million from an exit facility, and $56 million in miner equipment loans. This move significantly reduces the company’s interest expenses, with rates dropping from as high as 12.5% on the prior borrowings to 3% on the new convertible notes.Core Scientific announced and priced an upsized convertible senior notes offering on August 13-14, 2024. The…
[ad_1] Despite the challenges across the board, Hedera, a business-focused platform, especially in Q2 2024, continues to build and enhance its ecosystem further. According to a Q2 2024 review shared across X on August 19, analysts noted improvements made in the last quarter, pointing out how the platform performed relative to Q1 2024 and the broader crypto ecosystem. Hedera Developer Community Vibrant In the review, analysts observed that despite the general fluctuation in user activity, the developer community continued to thrive. The scalable ledger has over 75 full-time developers and over 190 monthly active contributors in their funding. For this…
[ad_1] A publicly listed Bitcoin (BTC) miner from Wall Street, BitFuFu Inc. (NASDAQ: FUFU), has reported a significant increase in crypto mining costs and a sharp decline in net income for the second quarter of 2024, despite strong revenue growth.Bitcoin Miner BitFuFu Reports Surging Costs, Lower Profits in Q2The company’s cost to mine one Bitcoin from self-mining operations soared to $51,887 in Q2 2024, up from $19,344 in the same period last year. This 168% increase in mining costs comes as the cryptocurrency industry grapples with higher energy prices and increased mining difficulty following the Bitcoin halving event in April.Despite…
[ad_1] On-chain data shows that the Bitcoin Mining Hashrate has bounced recently, suggesting miners are back to expanding their facilities. Bitcoin Mining Hashrate Has Rebounded From Its Recent Lows The “Mining Hashrate” refers to an indicator that keeps track of the computing power the Bitcoin miners have currently connected to the network. It’s measured in units of terahashes per second (TH/s). When the metric’s value goes up, existing miners are adding to their facilities, and new miners are joining the network. Such a trend implies the miners are finding the network attractive. On the other hand, a decline in the…
[ad_1] The world’s largest cryptocurrency, Bitcoin (BTC), has struggled to maintain a foothold above the critical $60,000 price level in recent trading sessions, as the digital asset finds itself caught in a tug-of-war between bullish and bearish forces. After recovering from a dip below $49,000 earlier this month, Bitcoin has been vacillating around the $60,000 mark, unable to consolidate above this key psychological and technical threshold. This price level has emerged as a battlefield between the bulls and bears, with the outcome poised to have significant implications for Bitcoin’s near-term trajectory. Bitcoin Faces Decisive Test At $60,000 According to market…
[ad_1] Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials Demetris Taxitaris | MAP S. Platis | Executive Testimonials In this video, Demetris Taxitaris, CEO of MAP S. Platis, discusses the significant impact of the upcoming MiCA regulation on the European crypto industry. He explains how MiCA will revolutionize the industry by transitioning crypto exchanges from an unregulated environment to a fully regulated one,…
[ad_1] Bitcoin and Ethereum prices faded after marching to March 2024 peaks. After Bitcoin soared to fresh all-time highs of around $73,800, it only took nearly five months for prices to flash crash sharply, dumping below $50,000 in early August. Amid this sell-off, Ethereum wasn’t also spared. By August 5, the coin fell to as low as $2,100. Even though prices bounced on the days that followed these losses, the uptrend momentum has been shaky, and there are doubts that buyers will sustain the leg up. Bitcoin Hash Rate Rising: Miner Capitulation Over? However, as traders watch the market, closely…
[ad_1] Digital asset investment funds witnessed another week of inflows last week, albeit at a small amount, to extend the run of inflows to two consecutive weeks. Notably, investment funds attracted a net inflow of $30 million last week. One of the key highlights of the week was Bitcoin’s strong performance in attracting investor interest. After being overshadowed by Ethereum in the previous week, Bitcoin regained its leading position, drawing the majority of the inflows. Solana, on the other hand, experienced its largest outflow on record, which was primarily driven by a decline in trading volumes of Solana-based meme coins.…
[ad_1] The crypto industry is voicing its concerns over the Democratic Party’s apparent indifference toward digital assets and blockchain technology in its latest party platform. This perceived snub has prompted the Republican Party to double down on its embrace of the nascent financial sector, further widening the partisan divide on the nascent technology. Republican Party Seizes Crypto Mantle As Bitcoinist reported on Monday, the Democratic Party’s 2024 platform, unveiled at the Democratic National Convention this week, notably omitted any mention of cryptocurrencies, Bitcoin, or blockchain. This absence of support has been met with dismay from the crypto community, which had hoped…