Bitcoin News and Finance: What You Need to Know

The International Monetary Fund’s (IMF) executive director for Russia says a growing number of countries are switching to trade in Chinese yuan, not only with China but also with third countries. He stressed that it is wrong for the U.S. dollar to be widely used globally given that the U.S. government uses the currency “for the purposes of national interests” and “the economic and financial obligations of one country.” IMF Director on De-Dollarization Gaining Momentum Worldwide The International Monetary Fund’s (IMF) executive director for Russia, Aleksei Mozhin, shared his thoughts on the global de-dollarization trend in an interview with RIA Novosti Monday. He explained that Washington’s policies and actions have compelled countries around the world to seek alternatives to the U.S. dollar, noting that more nations are ramping up the use of alternative currencies, particularly the Chinese yuan, in cross-border transactions. The IMF executive director described: We can see that I...

On Monday, FTX released a second investigative report accusing co-founder Sam Bankman-Fried and senior executives of commingling customer deposits and corporate funds and misusing them. The report alleges that they spent $243 million on luxury residential real estate for senior staff and family members, as well as on commercial properties. FTX Execs Accused of $243 Million Real Estate Spending Spree, Retaliation, and Fraud A second investigative report by FTX debtors alleges that “commingling and misuse of FTX.com customer deposits occurred for several years.” The report criticizes this fraudulent practice for making it “extraordinarily challenging” to trace the origins of specific transactions or distinguish between operating funds and customer assets. As part of the report, it states that FTX.com owed customers $8.7 billion as of the date of the bankruptcy petition. “The image that the FTX Group sought to portray as the customer-focused leader of the digital age was a mirage,” th...

According to several reports, Chibi Finance, the decentralized finance (defi) platform built on top of Arbitrum, allegedly executed an exit scam on its users. Blockchain intelligence firm Peckshield provided a detailed account, revealing that approximately $1 million worth of cryptocurrency assets were illicitly withdrawn and converted into Ethereum. Chiba Finance Becomes 12th Defi Platform on Arbitrum to Exit Scam, Says Smart Contract Auditor Certik On June 27, 2023, the blockchain analysis and intelligence firm Peckshield’s Twitter alert system notified the community about funds being drained from the DeFi application Chiba Finance. “Seems like Chiba Finance rugged,” Peckshield’s alert disclosed on Tuesday. “$1M worth of cryptocurrencies were drained. The stolen funds, which have been swapped for 555 ETH , were bridged from Arbitrum to Ethereum. They have already been transferred into Tornado Cash,” the notice added. All traces of Chiba Finance, including the website, Twitter ac...

Bitcoin mining is the highest user of sustainable energy and has similarly achieved the highest increase in sustainable energy mix between July 2019 and June 2023, new data has shown. The data also shows that bitcoin mining’s emission intensity has declined from more than 500 g/kWh seen in July 2021 to the June 2023 figure of 296 g/kWh. Bitcoin Mining Has the Highest Increase in ‘Sustainable Energy Mix’ According to the data comparing bitcoin mining to other industries’ energy mix, the process to extract the top cryptocurrency ranks as “the highest user of sustainable energy (52.6%) across sub-sectors.” The data shows the banking sector as the next highest user of clean energy with 39.2%, while the gold industry is ranked fourth with 12.8%. The data, which is based on the so-called Bitcoin Energy and Emissions Sustainability Tracker (BEEST) model , indicates that Bitcoin mining has also achieved the “highest increase in [the] sustainable energy mix (+38%) during the period charted ...

PRESS RELEASE. Prepare yourself for the highly anticipated public sale of $GORA on June 28th by staying informed and ready. Rest assured, we have all the vital information about the two launchpads, Poolz and Tokensoft, to guide you through the process seamlessly. This concise guide will provide you with valuable insights and specifics about these platforms, enabling you to navigate the sale with ease. Don’t miss your chance to secure $GORA tokens through Poolz and Tokensoft and be an integral part of the revolutionary Goracle Network. Get ready to join the action! IDO Overview Date: Wednesday, June 28th, 10:00 A.M. UTC Location: we are launching on the following launchpads Tokensoft: Goracle Portal . A well known IDO platform with successful project launches such as The Graph, Tezos & Hedara Hashgraph To participate, complete your KYC (Know Your Customer) process today by visiting http://goracle.tokensoft.io . This step is essential to comply with regulatory requir...

While the co-founder of Terraform Labs has been sentenced to four months in jail in Montenegro, a team of six anonymous developers have been attempting to revive the Terra Classic ecosystem after its collapse in May 2022. The six programmers, known as the “Six Samurai,” wholeheartedly believe that luna classic (LUNC) has “limitless upside potential.” Developers Rally to Breathe Life Into Terra Classic Following the collapse of the Terra ecosystem in May 2022, a new blockchain called Phoenix was formed, and the network issued new luna (LUNA) tokens. However, the old blockchain, now referred to as the “Classic” network, continues to exist and has a market valuation of approximately $531 million as of Monday, June 26, 2023. The native token of the Terra Classic chain, now known as luna classic (LUNC), currently trades at around $0.00009140 per unit. A group of developers, self-identified as the “Six Samurai,” now aims to revive the struggling network and infuse new life into the Terr...