Press Releases TheBitTimes.com

On Nov. 9, the Laos government announced it would halt business activities, levy fines and potentially revoke licenses of companies that do not meet their commitments or show progress in cryptocurrency mining and trading agreements in what is considered an inactive status. At the same time, outstanding fees from crypto operators owed to the state reached a U.S. equivalent of $20 million, according to Laos Prime Minister Sonexay Siphandone. A lack of progress During the proceedings of the sixth ordinary session of the National Assembly’s ninth legislature, Siphandone acknowledged a lack of progress from the two companies. The delay in fee payments to the state was attributed to the sluggishness of certain entities, while numerous investors demonstrated noteworthy advancements, contributing significantly to the state budget. The PM also acknowledged that payments were likely to be slow due to the value of crypto currencies, specifically Bitcoin, dropping in value by more than ...

Marathon announced a 467% increase in Bitcoin production year-on-year in the third quarter, while hashrate rose over 400% in the same timeframe. Bitcoin mining firm Marathon Digital Holdings saw its revenue surge $670% year-on-year in the third quarter of 2023, amid a nearly five-fold increase in Bitcoin production . The results saw Marathon also swing to a quarterly profit, with $64.1 million of net income in the third quarter, according to the firm’s Nov. 8 results filing. The firm partly attributed the improved financial results to a 467% spike in Bitcoin (BTC) production from 6.7 mined BTC in Q3 2022 to 37.9 BTC in Q3 2023. Similarly, Marathon’s energized hashrate boosted 403% over the same timeframe. Marathon’s Q3 Earnings Release is here: - Revenue of $97.8M, due to 467% increase in #Bitcoin production and higher BTC prices. - Adjusted EBITDA improves to $43.7M. - 8% increase in hash rate; expanding with hydro-powered ventures in Paraguay. - Long-term debt reduced by 56%,… ...

Hashdex's approach differs from recent filings as it won't depend on the Coinbase surveillance sharing agreement, opting to acquire spot Bitcoin from physical exchanges within the CME market. Hashdex, a crypto asset management company, has joined the competition for a spot Bitcoin (BTC) ETF in the United States. The firm, known for its global leadership in crypto asset management, has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin futures ETF that will hold actual spot Bitcoin.  Exchange-traded funds, or ETFs, are investment funds that trade on a stock market with their value derived from an underlying basket of assets such as stocks, bonds, commodities and other financial instruments. Similarly, Bitcoin ETFs track BTC's value and trade on traditional stock exchanges rather than crypto exchanges. Hashdex's approach differs from recent filings as it won't depend on the Coinbase surveillance sharing agreement, opting to ac...

Chinese police may have busted Multichain in a money laundering investigation, but many questions remain, including its CEO’s alleged fake ID. On July 14, developers of the $1.5-billion Chinese cross-chain protocol Multichain confirmed users’ worst fears. The protocol’s CEO, identified only as “Zhaojun He,” was arrested by Chinese authorities in Kunming on May 21 after months of repeated denials on official communication channels. Also allegedly arrested was Multichain’s core team, which was operating in Shanghai.  It was never disclosed why Zhaojun had been arrested or what the charges were. However, evidence suggests that Multichain funds may have been seized as part of an anti-money laundering operation in the context of a greater crackdown on crypto by Chinese authorities. In addition, an alleged fake ID used by the CEO to register Multichain’s operations only draws more questions.  Multichain co-founder Alfred Xu assured that the development team was doing “just fine” on May 24...

After purchasing $1.5 billion worth of Bitcoin in 2021, Tesla sold 75% of it in 2022 and is now hanging onto its remaining $184 million Bitcoin stash. For the fourth quarter in a row, Tesla hasn’t sold or added to its digital asset holdings with the electric vehicle manufacturer continuing to hold $184 million worth of its remaining Bitcoin (BTC). In Q2 2023 earnings released on July 19 the net value of Tesla’s Bitcoin holdings stood at $184 million which has held at the same value for the past two quarters. Tesla hasn’t bought or sold any Bitcoin since Q2 last year when it sold more than 30,000 Bitcoin — which accounted for roughly 75% of its total holdings — for $936 million. Tesla’s Bitcoin holdings totaled $184 million at the end of Q2. Source: Tesla Tesla first purchased $1.5 billion worth of Bitcoin in March 2021 with the company’s CEO Elon Musk promising to accept Bitcoin as payment for Tesla vehicles in the following days. Musk later halted Bitcoin payments for Tesla vehicl...

Attackers of this kind are supposedly "big game hunting” large-scale organizations with deep pockets to extract ”the most money possible” out of these firms. Cryptocurrency scams have fallen a massive 77% from $3.3 billion to $1.1 billion over the first six months of 2023, according to a recent report by blockchain intelligence firm Chainalysis. The catch, though, is that ransom attacks are back in trend, with perpetrators pocketing 62.4% more revenue than the first six months of 2022. On July 12, Chainalysis released its Mid Year Crypto Crime report, noting it’s the second consecutive year that scam revenue has trended downwards. The firm observed that historically, scam revenue increases in bull markets — but that hasn’t been the case so far in 2023: “Usually, positive price movements translate to higher scam revenue, likely because increased market exuberance and FOMO make victims more susceptible to scammers’ pitches. But 2023’s drastic scam decline bucks that long-standing ...

Verified Twitter users will be allowed to view 10,000 posts per day, while new, unverified accounts will get 500 under the new limits. Social media platform Twitter is temporarily limit ing the number of posts that users will be allowed to read per day, after seeing “ extreme levels of data scraping and system manipulation ,” according to executive chairman Elon Musk. In a July 1 post, Musk said the temporary limit s will see verified accounts capped at 10,000 posts per day, while unverified and new, unverified accounts are capped at 1,000 and 500 posts per day respectively: Now to 10k, 1k & 0.5k — Elon Musk (@elonmusk) July 1, 2023 Twitter users had been reporting issues on the platform over the last few days including the inability to retrieve tweets, missing timelines, and being met with a "rate limited exceeded" message, leading to the hashtag #TwitterDown #TwitterFail to trend in certain jurisdictions. A screenshot of a Twitter user’s account — having reached t...

In the eyes of the SEC, the recent filings from BlackRock, ARK Invest, Fidelity and other asset managers are not "sufficiently clear and comprehensive." There may be a longer wait for a spot Bitcoin exchange-traded fund (ETF) in the United States as the Securities and Exchange Commission (SEC) labeled investment managers' recent applications inadequate . According to the Wall Street Journal, the securities regulator told the Nasdaq and the Chicago Board Options Exchange (Cboe) that their filings are not "sufficiently clear and comprehensive." These exchanges represent asset managers in the filing of the financial product. In the eyes of the SEC, the exchanges should have named the spot Bitcoin exchange with which they would have a "surveillance-sharing agreement" or provided sufficient information about the details of those surveillance arrangements. However, asset managers can resubmit the filings after clarifying the information. Bitcoin ETFs: A ...

Metaverse tokens surged earlier this year amid rumors about Apple's new virtual reality headset, will this time be different? Apple is scheduled to release its highly-anticipated mixed-reality headset in the coming weeks, a development that some believe could breathe fresh life into the metaverse industry. In January, the native tokens of blockchain-based metaverse projects Decentraland (MANA) and Sandbox (SAND) witnessed significant surges in price, due partly to swirling rumors about Apple’s venture into mixed reality. This trend was pointed out in a May 15 tweet from independent developer Udi Wertheimer, who in a backhanded comment to the absurdity of influencer-driven memecoins, spoke of the upcoming release as a potential driver of metaverse token prices. CT is completely oblivious to the fact that Apple is about to launch a mixed reality headset in 3 weeks Metaverse shitcoins are going to pump so hard it’s not even funny But you morons keep buying influencer coins Ok — Udi ...

After leading Zodia’s series A funding round, the Japanese financial conglomerate SBI Holdings became its second-largest shareholder. Global Banks continue to expand their crypto currency-related capabilities, with the British multinational bank Standard Chartered raising new Funding for its crypto platform Zodia. Standard Chartered-backed crypto custody subsidiary Zodia Custody has raised $36 million in a new series A funding round, Bloomberg reported on April 27. Japanese financial conglomerate SBI Holdings has led the fund raise , becoming Zodia’s second-largest shareholder, Zodia Custody CEO Julian Sawyer reportedly said. Prior to the Funding round, London-headquartered Zodia was backed exclusively by Standard Chartered and Northern Trust, with Standard Chartered owning a 90% stake in the firm. It still remains the majority shareholder following the fund raise , according to Sawyer. Zodia CEO emphasized that it’s typical of Standard Chartered’s ventures strategy to raise external...

The Funding Program for the ecosystem involves grants, incubation, and acceleration for all phases of product development, with approved applicants receiving up to $500,000 per project. Aleph Zero is launching a $50 million Aleph Zero Ecosystem Funding Program, the layer-1 privacy-enhancing blockchain announced on April 18. The nonprofit Aleph Zero Foundation overseeing its development of Aleph Zero aims to support developer teams to build on its platform and advance blockchain adoption globally. In an interview with Cointelegraph, Aleph Zero co-founder Antoni Zolciak shared that “the goal of the Aleph Zero Ecosystem Funding Program is to fund innovations from developer teams that expand the capabilities, functionalities, and adoption of the Aleph Zero blockchain.” Zolciak also told Cointelegraph that the program would support various project ideas, from proof-of-concept to experienced teams with solutions on different platforms. Aleph Zero wants to attract developers by providing co...

Blockchains without interoperability are like computers without an internet connection — incapable of transferring data and value, a Chainlink Labs executive says. Blockchain technology needs a benchmark communications standard that can be easily integrated by every network in order for a complete transition from Web2 to Web3 to occur, industry commentators say. Many expect there will be multiple blockchains and such an ecosystem requires communication protocols similar to the Transmission Control Protocol/Internet Protocol (TCP/IP) used on the internet. Ryan Lovell, director of capital markets at crypto price oracle solutions firm Chainlink Labs told Cointelegraph that blockchains without interoperability are like what computers are without the Internet — isolated machines which cannot transfer data and value across networks. “To realize a fully interoperable blockchain ecosystem at scale, there needs to be an open communication standard analogous to the TCP/IP, which currently se...

The exchange shared that all customer funds are safe but advised its U.S. customers to withdraw their funds by April 30, 2023. Cryptocurrency exchange Bittrex has announced it will be winding down its operations in the United States due to the challenging regulatory and economic environment. The announcement was made on the platform's ninth anniversary, marking a bittersweet moment for the company.  Due to continued regulatory uncertainty, we have made the difficult decision to wind down our U.S. operations , effective April 30, 2023. All funds are safe and can be fully withdrawn immediately. This does not affect customers of @BittrexGlobal https://t.co/MY4u7XLk9z — Bittrex (@BittrexExchange) March 31, 2023 Co-founder and CEO Richie Lai shared that as the crypto ecosystem evolved, regulatory requirements have become increasingly "unclear" and "enforced, without appropriate discussion or input," leading to an uneven competitive landscape. This environment ha...

NFT shopping becomes a real-world experience in Dubai, with physical stores opened in the international business hub. Located in Dubai, the business and crypto center of the Middle East and North Africa region, Fastex’s ftNFT shop became the world’s first physical NFT store, offering a seamless interaction between the real world and the digital universe. In a short time, it garnered wide acclaim for its unique concept, friendly staff and exceptional customer service. On the heels of the first phydigital shop’s successful launch, Fastex announced the opening of another physical ftNFT shop in the Dubai Mall, the largest shopping mall in the world. Designed as a one-of-a-kind physical NFT shop, the cozy atmosphere of the ftNFT store transforms purchasing an NFT into a social experience in the real world for customers. Visitors to the shop will be able to enjoy a guided tour across the vast library of NFTs available in the ftNFT marketplace, choose one for themselves and take home their f...

The new and improved crypto intelligence dashboard boasts tools used by over 100 of the world’s leading crypto institutions with expanded functionality. The Cointelegraph Markets Pro platform was created with the aim to narrow the divide between institutional and retail investors. Its proprietary tools, like the Newsquakes indicator, the VORTECS Score and the Tweet Sentiment indicator, are the platform’s primary methods of achieving this goal. Looking back at Cointelegraph Markets Pro alerts performance shows that the institutional-grade platform has been a resounding success. Since 2021, the platform has produced an average return of at least: 2,895% in gains from score-based trading strategies (potentially turning $10,000 into $289,549) 546% in gains from time-based trading strategies (potentially turning $10,000 into $54,635) 851% in gains from buy-and-hold breakout strategies (potentially turning $10,000 into $85,179) After two years of delivering several winning trade opportunit...

Despite restructuring into a hosting firm for Bitcoin mining, Greenidge still owns about 10,000 miners, maintaining a capacity of 1.1 EH/s. Bitcoin (BTC) Mining company Greenidge Generation has significantly reduced its debt with the investment management firm, New York Digital Investment Group (NYDIG). On Jan. 30, Greenidge entered into several agreements associated with its secured debt with NYDIG, transferring ownership of Bitcoin mining hardware and certain credits to NYDIG. The transaction reduced the principal and accrued interest balance of debt with NYDIG from about $76 million to roughly $17 million, resulting in total aggregate debt reduction of around $59 million. One of the agreements, the senior secured loan agreement, also enables an opportunity for a voluntary prepayment of the loan by transferring ownership of certain mining infrastructure assets. Subject to a binding agreement by NYDIG, the loan agreement can potentially reduce the principal balance of the debt to app...

The community has been divided as to whether the NFT-like "digital artifacts" are the right fit for the Bitcoin ecosystem. The recent launch of a nonfungible token (NFT) protocol on the Bitcoin mainnet has the crypto community divided over whether it’ll be good for the Bitcoin ecosystem.  The protocol, referred to as “Ordinals,” was created by software engineer Casey Rodarmor, who officially launched the program on the Bitcoin mainnet following a Jan. 21 blog post. The protocol essentially allows for the Bitcoin version of NFTs — described as “digital artifacts” on the Bitcoin network. These “digital artificats” can comprise of JPEG-like images, PDFs, video and audio formats. Meme-inspired, NFT-like “digital artifacts” are now being inscripted on the Bitcoin network. Source: Ordinals. The introduction of the protocol has the Bitcoin community divided however, with some arguing that it would offer more financial use cases for Bitcoin, while others say its straying away fro...

The mining company has faced financial problems due to escalating energy costs and the falling price of Bitcoin. Bitcoin mining firm Argo blockchain has suspend ed trading of its American depositary shares (ADS) on NASDAQ, according to a Dec. 27 press release. The company says that it needed to suspend trading because of an announcement that will come on Wednesday morning and because the London Stock Exchange is closed on Tuesday. Argo says that it expects shares to resume NASDAQ trading on Wednesday. At our request, @Nasdaq temporarily suspended trading of Argo’s ADSs and unsecured notes for today - Tues Dec 27. We’ll be making an announcement tomorrow (Dec 28) via RNS before the @LSEplc opens in the UK…we expect trading on Nasdaq to resume tomorrow.#ARB $ARBK #BTC — Argo (@ArgoBlockchain) December 27, 2022 The statement comes after the company has been plagued with financial problems and faced bankruptcy rumors due to rising energy costs and falling Bitcoin prices. On D...