Crypto mining firm Riot Platforms – formerly Riot Blockchain – is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin (BTC) miner, Rhodian Enterprises, according to its Q1 2023 report. Published on May 10, Riot’s Q1 2023 financial report stated that Whinstone, a wholly owned subsidiary of Riot, filed a petition on
Top Stories This Week Coinbase calls Pepe a ‘hate symbol,’ prompting calls to boycott the exchange An email sent out to Coinbase customers describing the Pepe the Frog meme as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community this week. Two hours after the email was sent,
The Congressional Budget Office (CBO) has stressed that “there is a significant risk that the Treasury will run out of funds at some point in the first two weeks of June” if the debt ceiling is not raised or suspended. The CBO’s projection is in line with the estimate by the Treasury Department that a
The latest hype around Bitcoin (BTC) Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to JAN3 CEO Samson Mow. “These guys are basically paying massive amounts of fees that go directly to Bitcoin miners, and there is no way this can be sustained,” Mow said in an
Binance will withdraw from the Canadian market, the cryptocurrency exchange announced on Twitter on May 12. It called its withdrawal “proactive” as new guidance issued by Canadian regulators continues to take a toll on the country’s crypto industry. Binance is joining some of its smaller competitors in the Canadian exodus brought on by the introduction
EY, the global accounting and professional services organization, released a long-awaited update on Friday for the creditors of Quadriga CX. The Canadian cryptocurrency exchange, which had sought bankruptcy protection in 2019 with liabilities of C$215.7 million and assets totaling around C$28 million, had left its creditors in a state of uncertainty. In the latest notice
As the hype surrounding the PEPE memecoin intensifies, bad actors within the space have started to take notice, resulting in various scam attempts plaguing the crypto space. According to blockchain security firm PeckShield, there were at least ten meme coin scams created in the last three days alone. The firm detected and reported scam tokens
The market valuation of Pepecoin (PEPE) has dropped by 65% as of May 12, a week after its record high of $1.54 billion. Profit-taking appears to be the primary reason behind the extreme price correction, after it rallied from almost nothing to as high as $0.00000372 after its launch on April 14, while emerging as
Bitcoin Ordinals, a technology that enables adding text, images and code on a satoshi — the smallest unit of Bitcoin (BTC) — continues to inspire debate among the Bitcoin community. Soon after the introduction of Bitcoin Ordinals in January 2023, the technology’s opponents began to raise concerns over its perceived flaws, citing issues like rising
Two United States Senators from opposite sides of the political aisle have reintroduced legislation from 2022 aimed at mitigating perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency. Congressional records showed Idaho Senator James Risch and New Jersey Senator Bob Menendez introduced “a bill to require reports on the adoption of
Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash handouts in order to push consumer demand. Low Inflation Numbers
Bitcoin (BTC) is entering prime “buy the dip” territory as the clock ticks down to the 2024 block subsidy halving. That is the conclusion of several well-known market participants this month, with Bitcoin just one year away from its “very interesting” next halving. Bitcoin vs. the halving: Time to buy? Bitcoin halving cycles are known
In episode 19 of Cointelegraph’s Hashing It Out podcast, Elisha Owusu Akyaw talks to Ivo Georgiev, CEO of Ethereum smart contract wallet Ambire. Georgiev explained account abstraction and how wallets can bring more people to the network. Georgiev believes self-custody is an “extremely difficult” problem that can be solved with account abstraction. He explained that
Digital asset firm Bakkt has dropped 25 of the 36 crypto tokens listed on its recently acquired trading platform Apex Crypto. A spokeswoman for the company told Cointelegraph on May 12 that the decision was “part of our regular coin listing review process,” and added that: “Our clients’ and their consumers’ best interests are our core
Bitcoin (BTC) extended its decline on May 12 but analyst Philip Swift, co-founder of trading suite DecenTrader and creator of data resource LookIntoBitcoin, does not expect a deep correction. He said it was “interesting to note that the long/short ratio has been climbing as price has trended down.” One of the reasons that is keeping
Bitcoin’s price (BTC) broke below its 55-day support at $27,000 on May 12. In result, the two-day, 7% correction to $26,155 caused $100 million worth of long BTC futures contracts to be liquidated. However, Bitcoin margin and futures markets displayed strength during the down-move, fueling hope of a recovery toward $28,000. Regulatory pressure, stronger U.S.