U.S. Treasury Secretary Janet Yellen has warned that the Treasury will not be able to pay all of the government’s debt “as early as June 1, if Congress does not raise or suspend the debt limit before that time.” Yellen also cautioned that the U.S. defaulting on its debt obligations “would produce an economic and financial catastrophe.” U.S. Debt Default…
The one-time income tax benefit helped the firm reach a profit of $94 million in the first quarter of 2023. Source: https://cointelegraph.com/public/index.php/news/microstrategy-s-bitcoin-conviction-strong-as-it-returns-to-profit-in-q1-ceo
The Solana NFT space got a shot in the arm with the late April launch of Mad Lads, a buzzy profile picture (PFP) collection that led the market-wide charts. But something else happened amid the trading surge: upstart marketplace Tensor topped the dominant Magic Eden. Tensor launched in 2022, but saw increasing activity after introducing trading rewards in March. Last…
Business intelligence platform MicroStrategy has reiterated its commitment to its Bitcoin (BTC) investment strategy after turning its first quarterly profit since 2020. The Michael Saylor-founded firm went back into the green in the first quarter of 2023 with a profit of $94 million, which was largely attributed to a one-time income tax benefit of $453.2 million. Phong Lee, the firm’s…
Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission (CFTC) conceded that orders requiring payment of funds “may not result in…
Decentralized exchange Level Finance has experienced a security breach allowing an attacker to steal more than $1 million of the exchange’s native Level Finance (LVL) token. Level Finance informed its 20,000 Twitter followers that more than 214,000 of the exchange’s LVL tokens had been drained and swapped into 3,345 Binance Coin (BNB), with an approximate value of $1.01 million. An…
Blockchain technology was introduced in 2008 as a decentralized, secure, transparent system for managing digital transactions. Its primary aim was to provide a solution to major problems with traditional transactional systems, including trust, security, decentralization and efficiency. Blockchain has since expanded beyond finance and has been used in supply chain management, healthcare, games, digital media and social media, among others. …
Self-custodial wallet Phantom announced today that simultaneous support for Ethereum and Polygon networks is live on its mobile app and browser wallets, widening users’ access to dApps across the Web3 landscape, including Magic Eden, Uniswap, Aave, blur, and OpenSea. The popular Solana wallet first announced support for rival blockchains Ethereum and Polygon in November, with the aim of providing the…
In the eyes of some American lawmakers and businesses, the U.S. is stifling innovation with its sometimes confusing and often heavy-handed approach to regulating the crypto space. But Web3 companies are hoping the U.K. won’t go the same way. Today, a16z, the crypto-focused division of VC giant Andreessen Horowitz, asked the U.K. Treasury to take a more “nuanced” approach to…
Mawson Infrastructure Group announced on Monday that the company has secured a new mining site in Corning, Ohio. The bitcoin mining firm, on May 1, 2023, unveiled its plans to set up its miners at the new location by Q3 of this year, with an aim to raise the operation’s hashpower by 1 exahash per second (EH/s). Bitcoin Miner Mawson…
