Crypto News
Publicly Listed Chinese Firm SOS Commits $50 Million to Bitcoin Investment Amid Market Surge
SOS Ltd., a company involved in blockchain operations and cryptocurrency, has announced plans to allocate $50 million toward the purchase of bitcoin (BTC). SOS Invests $50 Million in Bitcoin According to the announcement, the initiative aims to bolster the company’s blockchain strategy while leveraging the growing prominence of bitcoin as a digital asset. The decisionSource link
Should SOL be Trading at a 70% Discount to ETH?
Solana was trading at 97% discount to ether’s market cap in January of 2023 – a clear market dislocation that has closed significantly over the last two years.Today the gap has closed to a 70% discount.However, solana is starting to challenge ether in terms of on-chain activity and important network usage KPIs.Which begs the question: Is the market still dislocated?In this short piece, we explore this key question with relative analysis across four key data points. Let’s dive in.Network FeesData: Artemis, The DeFi Report, Gas Fees Only (does not include MEV). Please note that we’ve included the following L2s in the comps data: Arbitrum, Base, Optimism, Blast, Celo, Linea, Mantle, Scroll, Starknet, zkSync, Immutable, and Manta Pacific.L2s create new demand...
Vitalik Buterin Donated $1M in Ether to Coin Center Hours After Tornado Cash Victory
Ethereum co-founder Vitalik Buterin donated 320 ether — worth over $1 million — to crypto think tank Coin Center on Tuesday night, according to blockchain data.Buterin’s donation came mere hours after a U.S. appeals court overturned U.S. sanctions against embattled crypto mixing service Tornado Cash, ruling that Tornado Cash’s smart contracts “are not the property of a foreign national or entity” and thus cannot be blocked under the International Emergency Economic Powers Act (IEEPA). By imposing sanctions on Tornado Cash, the Treasury Department’s Office of Foreign Asset Control (OFAC) “overstepped its congressionally defined authority,” the court ruled.Read more: Tornado Cash Sanctions Overturned by U.S. Appeals CourtCoin Center has been a key player in the crypto industry’s fight against the U.S....
Tether Stops Minting Euro-Backed Stablecoin, Citing Hostile Regulators
Stablecoin issuer Tether has announced that it will no longer issue its euro-backed EURT token amid regulatory challenges in Europe.Source link
BTC Miner Cipher Expands Texas Operations With 100 MW Data Center
Cipher Mining Inc., a bitcoin mining company listed on Nasdaq, has announced the acquisition of a 250-acre site in West Texas. Cipher Mining Secures Strategic Site for Bitcoin Mining Expansion According to Cipher Mining’s (Nasdaq: CIFR) announcement, the new facility, known as the Stingray site, will add 100 megawatts (MW) of front-of-the-meter capacity to itsSource link