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...

Binance fired back at the U.S. Securities and Exchange Commission’s temporary restraining order (TRO) request on Monday, assuring the court that “there is no risk” to customer assets. The exchange’s legal team dismissed the notion of an “emergency,” claiming that it is “manufactured by the SEC for its own purposes.” ‘Why Now?’—Binance Hits Back at SEC’s TRO Bid, Questions Timing and Urgency Approximately a week ago, the U.S. Securities and Exchange Commission (SEC) made a move to secure a court’s approval in order to freeze the assets of Binance US, the United States subsidiary of Binance. The SEC’s aim behind filing for a temporary restraining order was to safeguard customer assets, as stated in their request. However, Binance responded on June 12 by opposing the TRO request and asserting that there is no urgent situation and that customer assets are secure. According to Binance’s legal team, if the SEC had been aware of Binance’s regulatory violations and its open provision of ...

Coin Metrics researchers published a groundbreaking study on June 13, unveiling an innovative nonce analysis methodology for bitcoin mining. This research enables experts to dissect and identify the specific mining rigs responsible for contributing hashrate to the network, while also evaluating the energy consumption and effectiveness of these machines. Intriguingly, the data reveals that Bitmain has exerted its dominance over the industry for an extended period, with three primary Antminer models now commanding the majority of today’s hashrate. Groundbreaking Methodology Shows Researchers Can Dissect and Identify Miner Type, Energy Usage, E-Waste, and Efficiency Karim Helmy, a researcher at Coin Metrics, revealed a new mining study, titled “ The Signal & The Nonce ,” that takes a fresh approach to exploring the hashpower of the Bitcoin network. Introducing an innovative methodology, the study utilizes nonce patterns to unveil the market share held by each significant applicati...

Crypto exchange Binance US has urged a federal judge to reject a request by the U.S. securities regulator to freeze its assets. The company won’t be able to maintain the trading platform or pay employees and vendors, defense attorneys said in a court filing. ‘No Need for the Draconian Relief Sought by the SEC,’ Binance US Lawyers Say Binance US, the American subsidiary of the largest cryptocurrency exchange, Binance, has asked a federal judge to reject a request filed by the U.S. Securities and Exchange Commission ( SEC ) to freeze billions of dollars’ worth of assets under its management. Last week, the SEC sought court approval to freeze crypto assets on the platform for the duration of a legal fight against Binance.US, Binance Holdings Ltd. and Binance founder and CEO Changpeng Zhao, citing concerns over the safety of customer funds. “Operations would quickly grind to a halt,” attorneys representing Binance US said in a court filing on Monday, quoted by Bloomberg. The lawyers ...

Bitcoin rose above the $26,000 level on Tuesday, as markets prepared for the latest U.S. inflation figures. Consumer prices for May are expected to fall to 4.1% — double the Federal Reserve’s 2% target. Ethereum remained below $1,800. Bitcoin Ahead of the upcoming inflation report in the United States, bitcoin ( BTC ) moved back above the $26,000 level. Following a low of $25,686.04 to start the week, BTC /USD raced to a peak of $26,261.14 earlier today. The move saw bitcoin near a recent resistance level at $26,300, which is one of the last hurdles stopping bulls from moving towards $27,000. In order to get towards this level, a ceiling on the relative strength index (RSI) will also need to be broken. This is the 47.00 level on the indicator, and as of writing, price strength is currently tracking at 44.02. The 10-day (red) moving average will need to also shift course, and divert away from its current downward path. Ethereum Additionally, ethereum ( ETH ) moved marginally h...

A recent poll conducted by the Cato Institute and public opinion firm Yougov reveals that the majority of Americans are hesitant to adopt a central bank digital currency (CBDC). The findings indicate that support for a CBDC remains relatively low among survey respondents. U.S. CBDC Support Remains Low: Survey Highlights American Hesitation In late May 2023, the Cato Institute, a public policy research organization, and Yougov, a public opinion and data firm, unveiled a survey examining American attitudes toward the potential introduction of a CBDC. From February 27 to March 8, 2023, they polled 2,126 individuals, inquiring about their stance on a CBDC under various circumstances. For example, one question asked participants whether they would endorse or oppose a government-issued CBDC if it allowed the government to monitor all purchases. Just 13% expressed full support for this type of CBDC, while 68% were thoroughly opposed. Approximately 20% remained uncertain and expressed no...

CryptoGames , a well-known online crypto casino , is making waves in the online gambling industry with the launch of its revitalized VIP program and a high stakes wagering competition. These new initiatives promise cryptocurrency gambling enthusiasts a new era of exhilarating challenges and rewarding experiences, raising the bar in online casino gameplay. Challenging Monthly Wagering Contest The monthly wagering competition hosted by CryptoGames offers players a thrilling gambling environment. Kicking off on the first day and wrapping up on the last day of every month, participants compete to move up the leaderboard by making bets on games using their preferred coin. Players can monitor their positions on the real-time leaderboard and adjust their strategies accordingly. The wagering contest allows gamers to test their skills along with an opportunity to ascend the ranks of the elite. The top five performers in the Bitcoin and Ethereum leaderboards, the top three in the Litecoin ...

Warren Davidson, the Republican congressman who first introduced the legislation in mid-April, has filed the SEC Stabilization Act to remove Gary Gensler, the current chair of the U.S. Securities and Exchange Commission (SEC). Davidson insists the act aims to safeguard U.S. capital markets “from a tyrannical chairman.” Legislation Filed to Remove SEC Chair Gensler in Effort to Safeguard U.S. Capital Markets Several Republican lawmakers have openly criticized SEC chairman Gary Gensler for his performance in leading the federal securities regulatory division. Among them is congressman Warren Davidson (R-OH), who recently announced his intention to introduce legislation to remove Gensler from his position. Less than two months later, Davidson filed the SEC Stabilization Act and shared the news on Twitter on June 12th. “U.S. capital markets must be protected from a tyrannical chairman, including the current one,” Davidson said in a statement. “That’s why I’m introducing legislation t...

After several weeks of consecutive gains, sales of non-fungible tokens (NFTs) have slumped 20.44% this week compared to the previous week. According to seven-day statistics, NFT sales totaled $152.96 million last week, with $84 million in sales originating from the Ethereum blockchain. This Week’s NFT Sales Follow Crypto Market’s Nosedive Sales of non-fungible tokens (NFTs) have nosedived more than 20% over the past seven days compared to the previous week. The decline follows several consecutive weeks of gains, during which Bitcoin ( BTC )-based NFTs gained significant prominence. In the last seven days, NFT sales totaled $152.96 million, and the number of NFT buyers decreased by 63.59%. Ethereum-based NFT sales accounted for $84 million, representing 54.91% of the market share among 21 different blockchains. Ethereum-based NFT sales, however, have dropped 34% compared to the previous week. Bitcoin-centric NFTs still hold the second position in terms of sales, with $29.41 in reco...

The Central Bank of Nigeria governor, Godwin Emefiele, was suspended by Nigerian President Bola Ahmed Tinubu on June 9 and was subsequently arrested by a domestic security agency. Several reports have linked Emefiele’s suspension to the central bank’s controversial naira demonetization exercise. Emefiele’s Presidential Aspirations The Nigerian central bank governor, Godwin Emefiele, was on June 9 suspended by the West African nation’s new president Bola Ahmed Tinubu. The suspension is expected to pave the way for further investigations into Emefiele’s conduct throughout his tenure as head of the Central Bank of Nigeria (CBN). JUST IN: The Department of State Services (DSS) have confirmed that Mr Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN) is now in its custody for some investigative reasons. pic.twitter.com/tJJtcEduzZ — Eons Intelligence (@eonsintelligenc) June 10, 2023 Immediately after his suspension, several local media reports said Emefiel...

Bitcoin started the week trading marginally below the $26,000 level, ahead of a key week of economic events. The headline being the upcoming U.S. Federal Reserve meeting. Ethereum remains below $1,800 ahead of this week’s rate decision. Bitcoin Bitcoin ( BTC ) continued to trade around the $26,000 level on Monday, as markets remain volatile following recent fundamental occurrences. BTC /USD rose to a peak of $26,203 earlier in today’s session, following Sunday’s low at $25,675. Monday’s peak sees bitcoin bulls attempt to break a resistance level of $26,300, however market sentiment remains largely bearish. Bitcoin chart by TradingView The relative strength index (RSI) is also tracking close to a level of resistance, with a current reading at 42.16. This is marginally below an upcoming ceiling at 46.00, and slightly above a support point near the 41.00 region. Additionally, the 10-day (red) moving average has maintained its downward course, further expanding bearish sent...

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Volcano Energy rises in El Salvador, Venezuelan bitcoin miners flee amidst nationwide mining ban, and Argentina deepens usage of the Chinese yuan to pay imports. Volcano Energy Green Mining Project Rises out of Stealth in El Salvador Volcano Energy, a bitcoin mining project, announced the construction of a 241MW renewable power generation facility in El Salvador. The operation, which will get most of its energy using photovoltaic (solar) cells, will power what it calls “one of the world’s largest bitcoin mining farms,” with a mining processing capacity of 1.3 EH/s in its first stage. The cost of the whole development is estimated to reach $1 billion, with the first phase of $250 million being financed by “Bitcoin industry leaders.” Tether is among the companies participating in the project as part of its recently announced mining and renewable ener...

PRESS RELEASE. June 12, 2023 — It’s time to pop the champagne and raise a toast, because CryptoSlots , one of the premier online casinos for crypto enthusiasts, has just turned 5 years old. Ever since its launch in 2018, CryptoSlots has been a mainstay for iGaming enthusiasts who prioritize the safety and anonymity of cryptocurrencies while spinning unique Provably Fair slots for excellent payouts. To celebrate the occasion, CryptoSlots has been pulling out all the stops to make sure this year is one to remember by offering all players special tokens for its signature Jackpot Trigger slot. These tokens are normally only acquired by playing slots on the site, but everyone could receive this premium currency by making deposits in May while using the birthday bonus codes. Even in the midst of a celebration CryptoSlots is still rolling out brand new content. Starting with the release of Chinatown High Limit slot, the team has recently launched the game Lucky Ducts amid muc...

Former Securities and Exchange Commission (SEC) official John Reed Stark said on Sunday via Twitter that he believes the U.S. Department of Justice (DOJ) has filed or will file a criminal indictment related to Binance. Stark, who draws from his experience in the SEC Enforcement Division, pointed to various indicators suggesting potential criminal charges in his recent statement. DOJ Likely to Charge Binance Following SEC and CFTC Actions, Says Former SEC Official According to John Reed Stark, the former head of internet enforcement at the SEC, the DOJ has either already filed or will file a criminal indictment against Binance, the world’s largest crypto exchange. Stark’s opinion comes after the SEC sued Binance on June 5, 2023, for violating securities laws. The former SEC official emphasized that the Commodity Futures Trading Commission’s lawsuit against Binance, along with the SEC’s latest complaint, “read more like criminal indictments” than typical regulatory actions. Stark ...

People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank halted intervention after the recent presidential vote. Turkish Investors Seek Safe Haven in Stablecoin Tether Despite Global Crackdown on Crypto Demand for tether (USDT) in Turkey has been high since early May despite an ongoing crackdown on crypto assets around the world, Bloomberg noted. While the prices of major cryptocurrencies are falling, the Turkish lira has fared even worse, the report points out. The national fiat dropped 11% against the dollar during the past week after the central bank pulled back from intervention following the reelection of Turkey’s long-time President Recep Tayyip Erdogan . Turkish state banks resumed support on Wednesday after the currency’s biggest slide in over a year. With the lira having lost 80% of its value si...

At 1:19 p.m. Eastern Time on Sunday, June 11, 2023, Microstrategy, a publicly-listed company, had 140,000 bitcoin ( BTC ) on its balance sheet. Despite this impressive figure, a data analyst at blockchaincenter.net compiled metrics that reveal the company’s investment has decreased in value by 14%. The data also indicates that if Microstrategy had invested in ethereum ( ETH ) instead of BTC , the company’s portfolio would have increased by 54%. Blockchaincenter.net’s ‘There Is No Second Best’ Data Set Microstrategy, a company that offers business intelligence, mobile software, and cloud-based services, currently holds the largest amount of bitcoin ( BTC ) among publicly listed firms. In April, the company acquired an additional 1,045 BTC , bringing its total stash to an even 140,000. However, recent statistics reveal that the value of Microstrategy’s bitcoin portfolio has decreased by 14% as of Sunday. This means that the company’s cache, which was purchased for $4.206 billion, i...