Crypto news

On August 1, MicroStrategy founder Michael Saylor announced that in July, the firm acquired an additional 169 BTC for $11.4 million and now holds a total of 226,500 BTC. The company continues to focus on its bitcoin acquisition strategy. However, it faced significant impairment losses due to BTC price fluctuations, resulting in a second consecutive quarterly loss. The world’s largest corporate holder of BTC now has $14.6 billion worth at current spot prices, and it wants...

The Trump Sneakers website, an online store he declared fully owned in his 2023 financial disclosure, listed Bitcoin-themed high-top and low-top shoes right after he concluded his speech at BTC 2024. These sneakers cost as much as $499. Resellers have already flooded secondary markets like eBay with it, listing it for as much as five times the original price. Some were seen with an asking price of $2,500. If people are shelling out that amount is yet to be known. Nevertheless, the most...

Nader Al-Naji, BitClout founder, was sued by the US Securities and Exchange Commission (SEC) for misappropriating $7 million of investor money. He allegedly used it to fund his lavish lifestyle, like paying for the lease on his Beverly Hills mansion and giving cash gifts to family members. The SEC is also holding him accountable for selling $257 million worth of unregistered securities through the BTCLT token, native to the BitClout project. Funds that Al-Naji misused originate from here....

Pro-crypto Wyoming Senator Cynthia Lummis unveiled her Bitcoin bill on July 31, labeling it “our Louisiana Purchase moment.” The proposed ‘Bitcoin Act’ aims to add 1 million BTC, worth around $64 billion at current prices, to U.S. government holdings over five years. The legislation aims to establish a strategic Bitcoin reserve and other programs: “To ensure the transparent management of Bitcoin holdings of the Federal Government, to offset costs utilizing certain resources...

A lengthy court battle to extradite a disgraced crypto mogul, Do Kwon, has seemingly come to a close following a court ruling Thursday. The Appellate Court of Montenegro ruled that Kwon – founder of the defunct Terra blockchain – will be sent to South Korea for prosecution. Do Kwon Set For South Korea The latest ruling re-confirms a prior decision from a lower court, the High Court of Podgorica, to sent Kwon back to his home country rather than the United States, which also...

Four men in Ukraine were arrested for murdering a 29-year-old foreign national after stealing their bitcoin on midnight, July 29. The Ukrainian Police stated that the men, ranging in age between 24 and 29, walked away with around 2.55 bitcoin worth 7 million Ukrainian hryvnias, around $170,000, after launching their assault. A translated version of the statement about the arrests read, “Four men aged 24 to 29 carefully prepared a plan to kidnap the victim. Having seized the latter’s money,...

The world’s largest stablecoin issuer, Tether, has released its attestation report for the first half of the year, revealing a record $5.2 billion profit. According to an official release from the firm, Tether recorded a net operating profit of $1.3 billion in the second quarter of 2024, and its ownership of United States Treasury bills hit a new all-time high of $97.6 billion. Tether Releases Attestation Report Tether revealed that the review was conducted by BDO, a global...

[PRESS RELEASE – Zug, Switzerland, August 1st, 2024] StarChain, a pioneering crypto platform dedicated to democratizing scientific data, is launching a $10 million presale to fund the open-beta rollout of its innovative blockchain ecosystem. This initiative aims to revolutionize data accessibility, validation, and collaboration in scientific research. “Our mission is to break down barriers in scientific research by making high-quality data accessible to all,” said Dr. Meijer,...

Following the Bitcoin2024 conference, Bitwise CIO Matt Hougan has issued a bold call to crypto investors, urging them to rethink BTC’s potential upside. According to Hougan, the market is “not bullish enough” about the flagship cryptocurrency, and recent developments at the conference have highlighted a shift that could impact Bitcoin’s future value. Political Figures Support Bitcoin at Bitcoin2024 Conference As the cryptocurrency market deals with volatility and regulatory...

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