Bitcoin gets a much-needed boost from increasing optimism about the Federal Reserve’s course to cutting interest rates.
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Leading Bitcoin mining company TeraWulf Inc. announced its unaudited interim financial results for the first quarter of fiscal year 2024 along with an operational update.
In Q1 2024, TeraWulf self-mined a total of 1,057 bitcoin across its Lake Mariner and Nautilus Cryptomine facilities, including 6 bitcoin through profit sharing from a hosting agreement, valued at $56.8 million.
Its revenue almost doubled to $42.4 million ($23.3 million in the previous quarter), marking a significant 81.8% increase.
Paul Prager, CEO of TeraWulf, expressed satisfaction with the company’s performance, citing it as a new benchmark for profitability among publicly traded bitcoin miners. He…
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In a significant move, major global banks are embracing Bitcoin Exchange-Traded Funds (ETFs), marking a notable shift in traditional finance towards digital assets.
Canada’s Bank of Montreal (BMO) and Swiss banking giant UBS have emerged as frontrunners in this new trend. Both banks have disclosed their holdings in Bitcoin spot ETFs, signaling a strategic move towards integrating bitcoin into traditional financial portfolios.
According to recent Securities and Exchange Commission (SEC) filings, BMO controls over $1 trillion in spot Bitcoin ETF exposure.
This includes holdings in Fidelity (FBTC) with 9,778 shares worth $540,332, Franklin Templeton (EZBC) with 8,795 shares…
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Yet another potential milestone for crypto is just days away.
Or, we may find out US spot ether ETFs are — for now — not meant to be.
The Securities and Exchange Commission’s decision on such funds by fund firms Ark Invest and VanEck, slated to come by May 23, is only half of what to watch for next week.
In the case of a denial, the SEC is set to give its reasoning. There is also the question of whether a lawsuit follows, how quickly it is filed, and who would lead that charge.
Expected reasons for possible denial
The SEC was essentially forced to approve spot bitcoin ETFs in January after Grayscale Investments notched a legal victory against the regulator.
Then there was SEC…
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Donald Trump’s stance on crypto has shifted from anti-Bitcoin to now being a pro-crypto presidential candidate.
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In a display of bipartisan unity, two senators have called upon the Justice Department (DOJ) to reconsider its recent crackdown on a yet another popular Bitcoin privacy service.
The definition of a “Money Services Business” (MSB) was the topic discussed by Senator Cynthia Lummis (R-WY) and Senator Ron Wyden’s (D-OR) in their letter, publicly urging the DOJ to revise their stance on what constitutes an unlicensed MSB.
Senators Cynthia Lummis Senator Ron Wyden’s letter to the DoJ — Senator Lummis on X
Defining a “Money Services Business”
The senators argued that the DOJ’s recent actions, particularly the arrest of the founders of Bitcoin mixer Samourai…
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Cryptocurrency proponents scored a major victory as Oklahoma Governor Kevin Stitt signed HB 3594 into law, landmark legislation protecting activities in that sector. The new law prohibits state or local government actions that would ban or excessively tax the use of cryptocurrency transactions and self-custody, thus protecting the rights of Oklahoma residents to take part in the two activities.
Further to this, the bill supports home and industrial mining of cryptocurrencies, with some special provisions put in place to facilitate the operation of mining businesses in industrially zoned areas. This places Oklahoma as one of the most conducive environments for crypto enterprises, although some regions like Arkansas put restrictive measures, with the excuse that such activities are noise-making.
Echoing the industry’s approval, the Oklahoma Bitcoin Association has stated that this is the first law in the nation that explicitly guarantees rights to mine, operate nodes, and self-custody crypto. According to Dennis Porter, CEO of the Satoshi Act Fund, the legislation is a critical defense against ever-increasing regulatory pressures, leaving this development as the singular moment for crypto rights in the United States.
A UN report reveals North Korean hackers laundered $150 million in stolen crypto assets through Tornado Cash in March 2024.
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Circle’s strategic shift away from Ireland could increase compliance costs, but the tradeoff suggests improved investor confidence.
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$1M – $10M MarketCap:
- Frutti Dino (FDT): 79%
- SolCex (SOLCEX): 28%
- Ready to Fight (RTF): 28%
- GPTVerse (GPTV): 21%
- StoryFire (BLAZE): 16%
$10M – $100M MarketCap:
- DeFi Land (DFL): 145%
- Dogelon Mars (ELON): 66%
- Wall Street Memes (WSM): 29%
- Oort (OORT): 22%
- Keep3rV1 (KP3R): 19%
$100M – $1B MarketCap:
- Arcblock (ABT): 27%
- Apu Apustaja (APU): 27%
- PONKE (PONKE): 17%
- PUPS (PUPS): 15%
- CyberConnect (CYBER): 10%
Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.
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