Author: Kent Tenix

Delve into a detailed analysis examining the evolving profitability of Bitcoin mining, exploring essential factors shaping its viability amidst the dynamic cryptocurrency environment. It may not be as simple as it once was to profit from Bitcoin mining, based on recent data. According to a Bloomberg study, the profitability of mining Bitcoin is declining, at a level not seen since the collapse of FTX. As a result, those who work on safeguarding the Bitcoin network are finding it difficult. Data shows that the “hash price” which calculates the daily profit a miner receives for each unit of processing, has reached…

The SEC accused Geosyn Mining Co-Founder of misusing $1.2 million of the investors. They stated that this amount is spent on holidays, nightclubs, and firearms. The United States Security and Exchange Commission filed a lawsuit against Geosyn Mining and its co-founder. The SEC accused them of misrepresenting the number of rigs used for mining and using that amount for their own desires, resulting in $5.6 million in fraud. The  SEC filed a case on April 24 in federal court in Fort Worth, Texas, accusing Geosyn along with its CEO, Caleb Joseph Ward, and its former operating chief, Jeremy George McNutt,…

BlackRock’s Bitcoin ETF stopped receiving new investments on April 24, halting a period of consistent inflow based on analysis using Farside data. For the first time since Bitcoin ETFs began trading in the US in January, iShares Bitcoin Trust of BlackRock didn’t receive any more financing on April 24. IBIT has taken in millions of dollars in investments every day since it launched on January 11. It raised over $15.5 billion in 71 days. But BlackRock’s inflow record ended on April 24, when it got no more money. Many other Bitcoin ETFs also didn’t get new investments. Only the Fidelity…

Bitfinex reports that miners sold fewer Bitcoins before BTC Halving, and the launch of US spot ETFs resulted in the favor of BTC after the Halving event. Less selling of Bitcoins before Halving helped BTC restore its price.  The spot EFTs in the United States may have “spread out the potential selling pressure,” said Bitfinex. “It appears that miners have executed their selling in advance, which has turned out to be advantageous for the market in the short term,” on April 22, the crypto exchange wrote in its weekly market report. CryptoQuant data shows that the amount of BTC sent…

Grayscale’s Mini Bitcoin ETF fees as analysts question their affordability and validity. The Mini Bitcoin Exchange Traded Fund (ETF) of Grayscale will have ten times lower fees than Grayscale Bitcoin Trust (GBTCs), but Eric Balchunas, the ETF analyst at Bloomberg, advises the investors to be careful before jumping in and getting overly excited. They announced their new “mini” version of the Grayscale Bitcoin Trust (GBTC) ETF will have nearly 10 times lower fees than GBTCs. It can make it a more affordable choice among approved spot Bitcoin ETFs. Moreover, Bloomberg’s analyst suggest that investors hold off on getting too optimistic…

Bitcoin’s value dipped below $60K just ahead of the anticipated halving event last night. There were reports of an explosion in Iran on Thursday night before the halving event that happens every four years, leading once more to a decrease in the value of Bitcoin. The price of the most popular cryptocurrency did not appear to be great before the forthcoming halving of Bitcoin. For the first time on Thursday, it fell below $60,000 since late February, reaching a low of $59,573 on Coinbase. This currency has now dropped to 14% every week following a recent trend of losses. It…

The price of Bitcoin dropped below $60,000, recording a low of around $59,600 on the Binance exchange. This decline happened due to the missile attack conducted by Israel against Iran on Friday. Based on the information from top US officials, ABC was the first to reveal this news. Israel launched missile strikes back at Iran after it attacked last Saturday with around 300 drones and missiles. According to Israeli military officials, Israel and its allies, including the US, intercepted almost all of Iran’s missiles. These circumstances led to a decrease in the price of this digital currency. In response to…

The UK’s aim is to clear crypto regulations by the end of July, promising transparency for the crypto industry.  As per the statement of the UK’s economic secretary of treasury, Bim Afolami, their top priority is to enhance payment infrastructure by clarifying blockchain and digital assets. The United Kingdom Treasury is planning to introduce a regulatory framework for digital assets and stablecoins by July. This step fosters innovation within the local digital assets and blockchain technology sectors. During his address to the Innovate Finance Global Summit 2024 (IFGS), Bim Afolami revealed that the government is putting all its efforts into…

Coinbase’s Layer 2 offers scalability and accessibility, driving investor interest in meme coins. The cryptocurrency market is touching the sky in 2024, making altcoins explode dramatically. Older altcoins like Dogecoin (DOGE) and Shiba Inu (SHIB) also perform well and guide the way for new coins, while the new meme coins gain popularity and are still doing well. The majority of the newest meme coins are built on Solana chains, and they create a token on this chain that captures a huge share of the market. Some of these coins are Dogwifhat (WIF), Bonk (BONK), and a Book of Meme (BOME).…

During the last weekend, Ripple’s chief officer, Stuart Alderoty, talked to X and shared insights regarding the XRP lawsuit and Coinbase’s loss to the Securities and Exchange Commission’s (SEC) in Wednesday’s ruling. On March 27, the SEC requested permission from U.S. district judge Katherine Polk Failla to file a case against Coinbase, citing unregistered security brokerage. Coinbase gave justification and a request to dismiss the complaint, however, the judge refused its request. During the counterarguments, Alderoty criticized the council by suggesting that the SEC may come up with weak arguments to convince a judge. “Basically, the SEC sold the Judge…