Listen To The Episode Here: In this week’s episode of “Bitcoin Bottom Line,” hosts C.J. Wilson and Josh Olszewicz are discussing the latest in the Bitcoin space and the bipartisan Responsible Financial Innovation Act. Wilson begins by discussing the New York state bill that focuses on bitcoin mining, “It’s kind of weird because they singled out bitcoin mining as a…
Tether chief technology officer Paolo Ardoino has confirmed that the stablecoin has been the subject of a “coordinated attack” by hedge funds looking to short sell the dollar-pegged crypto asset. Speaking to his 151,600 Twitter followers on Monday, June 27, the Tether executive was responding to reports that hedge funds have been borrowing millions in loans to short USDT since…
Bitcoin (BTC) mining hardware and hosting company Compass Mining has lost one of its Maine-based hosting facilities after the owner, Dynamics Mining, terminated the hosting agreement between the two, claiming Compass failed to pay the required bills. Dynamics posted on Twitter late on June 26 a letter it sent to Compass Mining which stated as of June 14th, the hosting…
Members of the crypto community on Twitter have been left bewildered by the beleaguered Celsius Network continuing to pay weekly rewards despite pausing withdrawals two weeks ago. As previously reported, crypto lending platform Celsius paused withdrawals on June 13 after citing extreme market conditions amid the current bear market. Reports soon followed that the firm was undergoing liquidity issues and…
Cryptoys, an NFT-based startup, announced it has raised $23 million in a Series A funding round led by a16z. The company, which seeks to mix NFTs with the world of gaming and virtual toys, will create what it calls a “cryptoyverse,” in which it will also implement play-to-earn features and issue its own tokens. Cryptoys Raises $23 Million in…
Crypto investment platform CoinFLEX aims to rectify its liquidity shortage and restart user withdrawals by selling off bad debt through a new $47 million token offering. The new token is known as Recovery Value USD (rvUSD) and will be worth $1 each. It is designed to help CoinFLEX recover $47 million in losses incurred by an account that was allowed…
As the bear market continues, Crypto.com announced Monday that it is removing 15 cryptocurrencies from its Crypto Earn rewards program. Dogecoin (DOGE), Shiba Inu (SHIB), Tezos (XTZ), and FLOW are among those being removed, but Crypto.com added Zilliqa (ZIL), Fantom (FTM), and NEAR to the list. Crypto.com is also modifying the reward rates for five different stablecoins: TGBP, TAUD, TCAD, TUSD,…
Canadian investors represented a hefty $487.5 million worth of outflows for crypto investment products, with the figure partially offset by $70 million worth of inflows from five other countries. Source: https://cointelegraph.com/news/institutional-crypto-asset-products-saw-record-weekly-outflows-of-423m
The alternative investment group is banking on the “CeDeFi exchange” to shape the “future of finance” with a commitment that will bolster Unizen’s ecosystem. Source: https://cointelegraph.com/news/unizen-cedefi-smart-exchange-secures-200m-investment-from-gem
This is an opinion editorial by Anthony Feliciano, a Bitcoin event organizer and contributor to Bitcoin Magazine. On Wednesday, June 15, 2022, the Federal Reserve announced a 75 basis point hike to interest rates and possibly another 75 basis point hike in July. Friday, June 17, bitcoin saw a massive sell-off along with the rest of the crypto markets, shedding…
