Tag Archives: AA News

Shanghai-based car dealership Cango Inc. has pivoted to Bitcoin (BTC) mining, announcing a $256 million acquisition of 32 exahashes per second (EH/s) in hashrate from Bitmain Technologies. In November, the company extracted 363 BTC, worth about $36 million, without liquidating any assets, positioning it as one of the top players in the global Bitcoin mining industry. Cango Joins BTC Mining Bigwigs According to The MinerMag, the move makes Cango the fifth-largest public...

Nigeria’s Economic and Financial Crimes Commission (EFCC) on December 10 arrested 792 people linked to a massive crypto-romance scam operating out of Lagos. The suspects, who included 148 Chinese, 40 Filipinos, and several other foreign nationals, were caught during a surprise raid at an imposing seven-story structure known as Big Leaf in the affluent Victoria Island neighborhood. Sophisticated Scam Network Unveiled According to information shared by the agency, the operation...

CyberKongz, a gaming-based NFT project, announced on December 16 that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). The notice raises concerns about the platform’s integration of its ERC-20 token with blockchain games and questions aspects of its activities, including its 2021 contract migration. The SEC’s Argument In a post on X, the CyberKongz team expressed their dismay with the agency’s handling of the situation, saying: “We are...

The crypto industry grew remarkably in 2024 amid rising coin prices, but the same cannot be said for on-chain users across most relevant chains. A 2024 on-chain user report by the blockchain growth platform Flipside revealed a need for networks to offer quantity and quality on-chain activity to attract users and turn them into high-value contributors. According to the report shared with CryptoPotato, only Base, the layer-2 network launched by the largest American crypto...

After agreeing to curtail its ambitious Bitcoin initiatives, El Salvador has reached a $1.4 billion loan arrangement with the International Monetary Fund (IMF). The agreement, which needs the approval of the IMF Executive Board, aims to support El Salvador’s reform agenda, boost fiscal and external sustainability, and create conditions for stronger, inclusive growth. IMF Loan Agreement with El Salvador According to the official press release, the program is expected to...

Osprey Funds, LLC, a U.S.-based crypto investment firm, has announced that the Osprey BNB Chain Trust is now publicly quoted on the OTCQX® Best Market. Interestingly, the fund happens to be the first in the US to provide exposure to BNB, the native token of the BNB Chain ecosystem. It aims to offer a way for investors to access the cryptocurrency through traditional brokerage and IRA accounts. BNB Gains US Accessibility In its official press release this week, Osprey...

Cryptocurrency enthusiasts are turning to meme coins over traditional assets like Bitcoin (BTC) and Binance Coin (BNB), according to the latest study conducted by Binance. The findings, released on December 18 as part of the Binance Global User Survey, sampled over 27,000 customers across Asia, Australia, Europe, Africa, and Latin America. Meme Coins Outpace Bitcoin and Ethereum Binance revealed that 16% of respondents reported holding meme coins, making them the most-owned...

A federal judge in California has denied BiT Global Digital Ltd.’s request for a temporary restraining order (TRO) to prevent crypto exchange Coinbase from delisting wrapped Bitcoin (wBTC) from its platform. US District Judge Araceli Martínez-Olguín ruled Wednesday that BiT Global failed to present sufficient evidence to demonstrate “imminent irreparable harm” if the delisting proceeds. Coinbase Cleared to Delist wBTC The judge also criticized the speculative nature of BiT...

The adverse price developments that started after the controversial statements by the Chair of the US Federal Reserve continue today as well, with BTC dumping to under $98,000. The altcoins have been hit even more severely, with massive double-digit losses from the likes of ETH, DOGE, ADA, AVAX, LINK, and many others. Cryptocurrency Market Overview. Source: QuantifyCryptoCryptoPotato reported yesterday’s price movements, which came just minutes after the latest FOMC meeting,...

Ohio State Representative Derek Merrin has introduced House Bill 703, known as the Ohio Bitcoin Reserve Act, in a bid to authorize the state treasurer to invest public funds in BTC. The latest initiative is announced as part of Merrin’s broader vision to leverage innovative financial solutions. The legislation provides the framework for Ohio to incorporate Bitcoin into its state treasury portfolio. Ohio Bitcoin Reserve Act Merrin highlighted concerns about the ongoing...