Crypto News
Bit Digital Exits BTC Mining to Focus Solely on ETH Staking Strategy
Bit Digital (BTBT) is changing course to become a dedicated ether ETH staking and treasury operation, the company said Wednesday. The New York-based firm will exit the bitcoin BTC mining business entirely, repurposing its assets and capital into its growing ETH strategy.The company began building its ether position and Ethereum staking infrastructure in 2022. As of March 31, Bit Digital held 24,434.2 ETH, valued at $44.6 million, and 417.6 BTC worth $34.5 million. It plans to convert the remaining bitcoin into ether over time.To fund the transition, Bit Digital has started a process to sell or wind down its bitcoin mining operations. Net proceeds from the divestiture will be reinvested in ether. No specific timeline was given for the sale...
Prediction Market Kalshi Notches $2 Billion Valuation With $185 Million Raise
Kalshi achieved unicorn status following its latest Series C funding round, amid the prediction markets platform's growing crypto embrace.Source link
Tether Eyes Juventus Board Seat Amid Communication Breakdown
Tether CEO Paolo Ardoino has expressed frustration over the limited communication between Tether, Juventus, and Exor, the club’s majority owner. Tether Wants Voice on Key Decisions Stablecoin issuer Tether, which recently upped its stake in Italian football giant Juventus and is now its second-largest shareholder, claims that communication between the club, Exor and the stablecoinSource link
Pompliano’s Procap Boosts Bitcoin Holdings to Nearly 5K BTC
Anthony Pompliano’s Procap BTC, LLC has acquired an additional 1,208 bitcoin, bringing its total holdings to 4,932 BTC following a major merger announcement earlier this week. Procap Adds 1,208 Bitcoin, Now Holds 4,932 Bitcoin Procap BTC, LLC, the bitcoin-focused financial services firm founded by Anthony Pompliano, purchased 1,208 bitcoin on June 25 at a time-weightedSource link
Bitcoin Rises Past $107K as FHFA’s Pulte Orders Crypto Consideration in Mortgage Applications
Bitcoin BTC continued its gentle rise on Wednesday as Fannie Mae and Freddie Mac — which play a pivotal role in issuing mortgages to U.S. homeowners — were ordered by the William Pulte, Director of the Federal Housing Finance Agency (FHFA), to prepare to accept cryptocurrencies as part of applicants' assets.Back above $107,000, the top cryptocurrency is up 2.2% in the last 24 hours, and outperforming the CoinDesk 20's 0.5% advance. Bitcoin Cash (BCH) was a notable outperformer, rising 7.4%.Alongside, BTC’s dominance keeps going up, now with almost 66% of the total crypto market value now parked in the orange coin, up from 39% in November 2023.Today’s move may be partially due to FHFA Director William Pulte sharing on social...