Bitcoin News and Finance: What You Need to Know

Members of Israel’s Web3 community have launched Crypto Aid Israel, a fundraiser in support of those affected by the conflict with Hamas. The goal is to attract cryptocurrency donations to relieve the humanitarian situation of thousands of Israelis displaced by the surprise attack of Palestinian militants from Gaza. Web3 Firms Unite in Crypto Aid Israel Initiative Amid War With Hamas A group of companies from the Web3 space, including the Israeli Blockchain Association, announced they have come together to launch Crypto Aid Israel . The fund will raise donations in digital assets for Israeli citizens suffering from what their government calls a war with Hamas. On Oct. 7, the militant Palestinian movement, designated as a terrorist organization by a number of nations, launched a large-scale invasion by land, air and sea of Israeli territories in the south from the Gaza Strip which it controls. On Tuesday, the death toll in Israel reached 900, with hundreds of thousands of people for...

The Nasdaq-listed bitcoin mining company Iris Energy has announced its acquisition of 1.4 exahash per second (EH/s) of Bitmain’s latest S21 Antminers. This acquisition will increase the company’s self-mining capacity by 25%, from 5.6 EH/s to 7 EH/s. Nasdaq-Listed Iris Energy Bolsters Mining Arsenal with Latest Next-Gen Mining Rig Purchase Just over two weeks ago, Bitmain introduced its S21 series Antminers, boasting an efficiency rating of less than 20 joules per terahash (J/T). Following this, the publicly traded bitcoin mining company Iris Energy, traded on Nasdaq under the ticker IREN, confirmed its purchase of 1.4 EH/s of Bitmain’s S21 miners. The company revealed that this acquisition came with a price tag of $19.6 million, breaking down to $14 per terahash. An additional $2.9 million will be deferred and paid one year post-shipment. The S21 units will be stationed at the company’s Childress, Texas, location, as detailed in their announcement. This new addition will elevate ...

Billionaire investor Paul Tudor Jones has warned of the effects of the geopolitical uncertainty around four nuclear powers, including China, Russia, and Iran. “It might be the most threatening and challenging geopolitical environment that I’ve ever seen,” Jones stressed. “It is also happening at the same time the United States is in its weakest fiscal position since World War II.” ‘Most Threatening and Challenging Geopolitical Environment That I’ve Ever Seen’ Billionaire hedge fund manager Paul Tudor Jones, founder and chief investment officer of Tudor Investment Corp., discussed the impact of global geopolitical conflicts on markets in an interview with CNBC Tuesday. Commenting on the war between Israel and Hamas, he said what is happening in Israel is “a huge tragedy.” However, Jones stressed: “You have to put it in a larger geopolitical context.” The billionaire explained: “We now have possibly three theaters where we’re going to have geopolitical challenges. We’ve got the Middl...

The Israel Police have frozen crypto accounts held at Binance allegedly used by Hamas to collect crypto donations as tensions between Israel and Hamas escalate. In addition, the Israel Police have frozen a Hamas-linked account at Barclays Bank. Hamas-Linked Crypto Accounts at Binance Frozen The Israel Police’s official account on social media platform X announced on Tuesday that cryptocurrency accounts associated with Hamas held at Binance have been frozen. The Palestinian militant organization is currently at war with Israel. The announcement details: The Israel Police’s Cyber Unit, in collaboration with the Ministry of Defense, the Israel Security Agency, and other national intelligence agencies, has successfully frozen cryptocurrency accounts used by Hamas for fundraising their activities. According to a separate announcement in Hebrew as translated by Google, the Israel Police’s cyber unit, Lahav 433, has frozen cryptocurrency accounts “which were used by Hamas to collect do...

In bombshell testimony on Tuesday, Caroline Ellison, former CEO of Alameda Research, accused Sam Bankman-Fried of directing her and others to commit fraud under his leadership at FTX and Alameda. Taking the stand in a red dress, Ellison stated “Alameda took several billions of dollars from FTX customers and used it for investments.” Caroline Ellison Exposes Alleged FTX Fund Siphoning and Political Payoffs According to reporting by Matthew Russell Lee of Inner City Press , who streamed the proceedings from the courtroom, Caroline Ellison detailed how she and her colleagues improperly used billions in customer funds from FTX to pay back loans and make speculative investments for Alameda Research. Lee reported that Ellison claimed she engaged in fraud at Sam Bankman-Fried ‘s direction, alleging he “set up the systems and told us to take the money.” The former Alameda CEO estimated that between $10 to $20 billion in FTX customer funds were deposited into Alameda accounts and used for...

A recent study conducted by the Bank of Canada delved into the role a central bank digital currency (CBDC) would play in improving financial inclusion, digital inclusion, and accessibility. The study concludes that while the Canadian financial ecosystem is inclusive, a CBDC might help tackle several challenges not dependent on the system itself. Bank of Canada Study Examines CBDC Role A recent study published by the Bank of Canada, titled “Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency,” examined the challenges a central bank digital currency (CBDC) would tackle in Canada. The study remarks that while financial inclusion is high in Canada, with 98% of adult Canadians having access to a bank account and debit cards, underbanked Canadians can still face barriers and challenges, having to resort to alternate providers that charge higher fees for their services, including payday lenders and cheque cashers. The use of cash in the co...

When Satoshi Nakamoto created Bitcoin, many viewed it as a solution to the drawbacks of fiat money. Historically, about 800 fiat currencies have come and gone, with many ultimately failing. Intriguingly, the fundamental reasons for establishing the fiat system remain elusive to many. Some argue that it was designed by governments to perpetuate corruption and fund endless global conflicts. In a nutshell, most fiat currencies have either supported military pursuits or protected financial magnates who benefit from such endeavors. Unraveling the Shadows: The War-Driven Legacy of Fiat Currencies Notably, U.S. presidential hopeful Robert Kennedy Jr. recently remarked , “fiat currency was invented to fund the cause of war.” A bold claim, but history does lend credence to Kennedy’s assertion. Ages ago, people traded with commodities and precious metals fashioned into coins. This practice shifted during the Yuan Dynasty in China (1271-1368 AD) under Kublai Khan. Fiat currency, in essence, ...