Bitcoin millionaires surge 111% in a year amid crypto rally

When Michael Corleone ordered hits on rival bosses in The Godfather, he had Don Cuneo locked inside a revolving door and shot. Getting whacked while trapped behind a barred door appears to be the treatment United States Securities and Exchange Commission Chair Gary Gensler has in mind for U.S. crypto projects based on recent SEC…

As the Bitcoin network hash rate tops 414 EH/s, miners are struggling to stay afloat amid plummeting profitability. 534 Total views 14 Total shares Bitcoin mining revenue or “hash price” — a measure of dollars earned per TH/s per day — has slumped to levels not seen since the collapse of FTX in November 2022,…

The upcoming $3 billion in Bitcoin (BTC) monthly options expiration on Sept. 29 could prove pivotal for the $26,000 support level.BTC price faces serious headwindsOn one side, Bitcoin’s recognition in China appears to be strengthening, following a judicial report from a Shanghai Court that acknowledged digital currencies as unique and non-replicable.Conversely, Bitcoin’s spot exchange trading

Bitcoin is short-term bearish, traders say, as the options market hints at consolidation. 2427 Total views 12 Total shares A pseudonymous trader known as “Byzantine General” is short-term bearish as Bitcoin (BTC) continues to test the same $30,000 support area.Although the price of Bitcoin is staying above a key support level, the trader said the…

The monumental collapse of FTX will go down as one of the biggest corporate scandals of all time. But, at least Sam Bankman-Fried, or SBF, is sorry. On Nov. 22, the disgraced founder of FTX penned a letter to his former employees describing his role in the company’s bankruptcy. “I never intended this to happen,”…

Regulated decentralized finance that combines permissioned layer-two protocols and a public blockchain network could be the future of fintech. 3814 Total views 24 Total shares John Whelan, the head of Banco Santander’s blockchain lab in Madrid, recently touted the potential for increased decentralized ledger technology adoption in mainstream finance.Speaking during a webinar organized by Fintech…

The FSB seems more concerned with the crypto market given its recent turmoil and the “increasing interconnectedness with the traditional financial system.” 114 Total views 23 Total shares The Financial Stability Board (FSB), a global financial regulator including all G20 countries, is preparing to propose international regulations for cryptocurrencies and stablecoins in October.The FSB on…

“Spending way more than we earn” — CEO Tim Sweeney blamed job cuts on major structural changes to the company’s economics. 181 Total views 2 Total shares Epic Games, the company behind Fortnite, has slashed 16% of its workforce — approximately 830 staff — after unrealistic expectations of metaverse-inspired revenue caused it to spend “way

Both Bitcoin and fiat currency are often in the firing line over ethical concerns, with a dedicated group of defenders and critics.