Bitcoin News and Finance: What You Need to Know

Due to the unique traits it presents, Latin America has been a thriving region for cryptocurrency, as the technology aims to complement or even substitute traditional finance components that cannot be used in certain countries in the area. Marked by the vast differences between its countries, grouping Brazil — one of the first economies of the world — and countries like Venezuela and Argentina, which face enormous economic challenges, Latam is home to two crypto use cases. The first presents its speculative side, while the second, grassroots-focused use case seeks to substitute payment channels in sanctioned countries, serving as a hedge against devaluation and inflation. Bitcoin mining is also an emergent activity on the continent, with companies seeking to take advantage of the cheap power tariffs and ideal climates that countries like Paraguay and Argentina offer to incoming mining companies. The region is home to El Salvador, the first country to adopt bitcoin as legal tender,

On June 13, 2023, several individuals discovered a significant transfer of Ethereum ( ETH ) that had remained dormant for a few years. While the observers believed the funds were being deposited into Coinbase, they shared this information on social media to highlight the unusual occurrence. However, despite the speculation, it was soon clarified that the transfer was simply an internal Coinbase transfer from a cold wallet. Blockchains Never Lie: The Truth Behind the Ethereum Transfer Hype Amidst the volatility and unpredictability in the cryptocurrency community, numerous observers closely monitor onchain transactions using tools such as the Whale Watch alert system and other monitoring systems. On June 13, 2023, a Twitter account known as “Napgener” posted a summary regarding the movement of approximately 1.5 million ETH that had been accumulated in 2016 and recently transferred. The tweet read, “This guy accumulated 1.5 million ETH in August 2016 … Just sent 450K to [Coinbase].

On Wednesday, June 14, 2023, at block height 794,304, the Bitcoin network recorded its third consecutive mining difficulty increase since May 18. The mining difficulty climbed by 2.18%, bringing the overall difficulty to another unprecedented high at 52.35 trillion. Bitcoin Mining Difficulty Hits All-Time High Amidst Price Dip Bitcoin’s mining difficulty experienced yet another surge on Wednesday morning at 7:27 a.m. (ET), rising by 2.18% and making it even more challenging for bitcoin miners to uncover blocks. Before this modification, the preceding 2,016 blocks had an average hashrate of roughly 374.5 exahash per second (EH/s). Currently, the hashrate is cruising at 329 EH/s; however, on June 11, 2023, the network notched another 24-hour all-time high of 516.61 EH/s at block height 793,868. The most recent spike in difficulty has also propelled it to a record-breaking high of 52.35 trillion. Over the last six weeks, miners have grappled with three consecutive increases and an ove

PRESS RELEASE. During the Blockchain Pizza Festival held from May 22nd to May 31st, BitFuFu organized an exciting “Team Up, Mine More” event that attracted the attention and participation of many miners. This special event showcased BitFuFu’s commitment to delivering exceptional mining experiences and garnered significant attention from influential mining Key Opinion Leaders (KOLs) and media outlets. It exemplified BitFuFu’s professionalism in the cloud mining industry and garnered high praise from its users. BitFuFu’s “Team Up, Mine More” campaign during the Blockchain Pizza Festival resonated strongly with the mining community, fostering a spirit of collaboration and unity. Seasoned miners eagerly participated, leveraging their collective expertise and resources to maximize mining efficiency and profitability. The “Team up, Mining more” campaign captured the imagination of miners, creating a sense of community and collaboration. This unique approach not only deepened the sense of

Bitcoin fell below a key resistance level on Wednesday, as markets prepare for the upcoming U.S. Federal Reserve interest rate decision. It is expected that the Fed will keep interest rates unchanged at 5.25%. Ethereum remained below $1,800 in today’s session. Bitcoin Bitcoin traded below a key price ceiling in today’s session, as traders began to anticipate this afternoon’s U.S. Federal Reserve rate decision. BTC /USD dropped to a bottom at $25,728.37 earlier in the day, which comes less than a day after trading at a high of $26,376.35. Today’s low comes as BTC bulls were unable to sustain a breakout above the aforementioned resistance of $26,300. Bitcoin chart by TradingView Overall, the relative strength index (RSI) of 14 days is also hovering around a ceiling of its own at 43.00. At the time of writing, the index is tracking at 42.56, with BTC attempting to break into the $26,000 mark. Should bulls manage to move beyond the obstacle on the RSI, there is a strong chanc

The founder of failed cryptocurrency exchange Thodex has denied all fraud-related allegations in a Turkish court. The crypto entrepreneur was handed over to Turkey by Albanian authorities earlier this year to face charges for his leading role in running the now defunct platform. Alleged Crypto Fraudster Faruk Ozer Claims He Was Framed in Thodex Case Faruk Fatih Ozer, founder and chief executive of the Turkish crypto exchange Thodex, has denied defrauding investors on the trading platform, local media reported. On June 12, he made his first court appearance in his home country after his extradition from Albania in April. Thodex collapsed in 2021 after attracting 400,000 users and Ozer fled Turkey with a reported $2 billion of investor money. He was wanted on an Interpol red notice until his arrest by Albanian law enforcement authorities on Aug. 30, 2022. During the hearing on Monday, part of a trial against 21 people charged in connection with the exchange, Ozer claimed that he w