Bitcoin News and Finance: What You Need to Know

Genesis Digital Assets (GDA), one of the world’s largest bitcoin mining companies, has opened three new data centers in the western region of South Carolina. The facilities represent GDA’s continued expansion in the United States, where its data centers now account for over 2% of Bitcoin’s total hashrate. Genesis Digital Assets Reveals 3 New South Carolina-Based Mining Facilities According to GDA , the first facility opened near Anderson in February and has a capacity of 18 megawatts (MW). Two more data centers launched in March between Union and Lockhart, adding 15 MW. By opening the sites, GDA disclosed it created about 150 local jobs and contracted 95% of the construction work to South Carolinians. “I am extremely proud of the entire GDA team for opening these new facilities in only a few months,” said Ankit Joshi, the head of North America for GDA. “We were impressed to see how these local communities welcomed us so warmly as an opportunity for their economy.” The company’s an...

A senior U.S. district judge has rejected the approach taken in the Securities and Exchange Commission (SEC) v. Ripple ruling regarding XRP . “The court declines to draw a distinction between these coins based on their manner of sale,” explained the district judge presiding over the SEC v. Terraform Labs case. Judge Rakoff Rejects Approach in Ripple Case Over XRP Judge Jed S. Rakoff, a senior district judge of the United States District Court for the Southern District of New York (SDNY), has disagreed with the approach taken by District Judge Analisa Torres in the U.S. Securities and Exchange Commission (SEC) v. Ripple case concerning XRP . Judge Rakoff’s disagreement arose as part of the case filed by the SEC against Terraform Labs and its co-founder Do Kwon. The securities regulator has asked the judge not to follow Judge Torres’s reasoning in the Ripple case, stating that the ruling was “ wrongly decided .” The SEC also indicated that it plans to appeal the Ripple decision. In ...

Rich Dad Poor Dad author Robert Kiyosaki says the U.S. economy is not strong and America is broke. Noting that the stock market is going up because President Joe Biden raised the debt ceiling, he emphasized that he still prefers gold, silver, and bitcoin. Robert Kiyosaki’s Latest Economic Warnings The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more warnings about the U.S. economy. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki slammed the Wall Street Journal in a tweet on Sunday for claiming that the U.S. economy is strong. He explained that the stock market is up because President Joe Biden signed into law the agreement to raise the debt ceiling . Emphasizing that “America is broke,” he emphasized that he still prefers gold, silver, and bitcoin. On ...

Florida Governor and U.S. presidential candidate Ron DeSantis has promised to end Joe Biden’s war on bitcoin and cryptocurrency if he is elected president of the United States. In addition, he stressed that on his first day as president, “CBDC goes into the trash can. We’re not going to allow it.” Ron DeSantis’ Promises on Bitcoin, Crypto, Central Bank Digital Currency Florida Governor and U.S. presidential candidate Ron DeSantis made several promises regarding bitcoin and cryptocurrency during his speech Monday at a campaign rally in New Hampshire. “We are going to let Americans invest in things like bitcoin and cryptocurrency. No one’s forcing you to do it. If you want to do it you can do it,” DeSantis emphasized, adding: Biden’s war on bitcoin and cryptocurrency will come to an end when I become president. DeSantis also reiterated his promise to stop the Fed from launching a central bank digital currency (CBDC). “We also will reject the Federal Reserve’s attempt to impose a...

Tether, the company behind the USDT stablecoin, has published an attestation revealing the company’s financials during Q2 2023. The document, prepared by BDO, a network of accounting and consulting services, found Tether has increased its reserves by $850 million during this period, with its overall excess reserves reaching $3.3 billion. Tether Attestation Reveals Excess Reserves Reached $3.3 Billion in Q2 Tether, the company that issues the USDT stablecoin, the largest of its kind in the cryptocurrency market, has released an attestation of its financial standings, revealing the composition of its reserves as of June 30. The document , prepared by BDO, an international network of accounting and consulting firms, determined that the company increased its reserves by $850 million in Q2. The document also found that Tether’s excess reserves, defined as the “company’s own profits – not distributed to shareholders and which the company has decided to keep on top of the 100% reserves ...

Bavaria’s State Office for Data Protection Supervision (DPS) has initiated an inquiry into the Worldcoin project and its data collection techniques, as disclosed in a Reuters report on Monday. This comes shortly after similar investigations by Kenya’s Office of the Data Protection Commissioner (ODPC) and France’s National Commission for Informatics and Liberty (CNIL), who also announced probes into the Worldcoin project for like-minded apprehensions. Three International Jurisdictions Investigate Worldcoin’s Data Collection Methods Various jurisdictions’ data regulators are diligently examining Worldcoin, a digital currency venture that utilizes iris-scanning biometric technology. The project’s native cryptocurrency, worldcoin (WLD), premiered last week. According to Openai CEO Sam Altman, a co-founder of Worldcoin, individuals signed up at a significant pace of every eight seconds on July 26, 2023. Nonetheless, by week’s end, France’s oversight agency, the National Commission on I...