Bitcoin whale ‘Spoofy’ accumulates $344M BTC as price tumbles below $90K
During the recent market crash, one trader made a bold move and purchased a whopping 70,000 Bitcoin. This purchase was made during the collapse of FTX, a popular cryptocurrency exchange, when the price of Bitcoin was fluctuating between $40,000 and $16,000. This trader’s decision to buy such a large amount of Bitcoin during a volatile time may seem risky to some, but it ultimately paid off.
The market crash was triggered by a combination of factors, including China’s crackdown on cryptocurrency mining and Elon Musk’s tweets about Bitcoin’s environmental impact. This caused panic among investors, leading to a sharp decline in the price of Bitcoin. However, this trader saw an opportunity amidst the chaos and took advantage of it.
Buying 70,000 Bitcoin is no small feat, and it required a significant amount of capital. But this trader had the foresight to see the potential for growth in the long run. And their instincts were right. Just a few weeks after the market crash, Bitcoin’s price started to recover and has since reached new all-time highs.
This trader’s bold move not only resulted in a significant profit for them but also sent a strong message to the market. It showed that despite the volatility and uncertainty in the cryptocurrency world, there are still those who have faith in its potential and are willing to take risks for potential gains.
This story serves as a reminder that in the world of cryptocurrency, fortunes can be made and lost in the blink of an eye. It also highlights the importance of staying informed and having a strong understanding of the market before making any investment decisions.
In conclusion, the trader who bought 70,000 Bitcoin during the FTX collapse made a daring move that paid off in the end. Their actions not only resulted in a significant profit but also showcased the resilience and potential of the cryptocurrency market.
House Democrats propose bill to ban presidential memecoins: Report
California Democratic Party Representative Sam Liccardo is taking a stand against the recent trend of public officials creating their own memecoins. In an effort to regulate the use of these digital currencies, Liccardo is preparing to introduce the MEME Act.
The MEME Act, which stands for “Monetary Enforcement and Management of E-currencies,” aims to ban the issuance of memecoins by public officials. This comes after the recent launch of TRUMP, a memecoin created by former US President Donald Trump. While some may see this as a harmless joke, Liccardo believes it sets a dangerous precedent.
In a statement, Liccardo expressed his concerns about the potential misuse of memecoins by public officials. He believes that these digital currencies could be used for personal gain or to manipulate the market, which goes against the principles of fair and transparent governance.
The MEME Act would also require public officials to disclose any holdings or investments in memecoins, similar to the regulations in place for traditional financial assets. This would ensure transparency and prevent conflicts of interest.
While some may argue that memecoins are just a form of harmless fun, Liccardo believes that they have the potential to cause real harm. He points to the recent surge in popularity of Dogecoin, a memecoin that started as a joke but has now reached a market value of over $50 billion. This kind of volatility and speculation can have serious consequences for investors and the overall stability of the market.
Liccardo’s proposed legislation has received mixed reactions, with some applauding his efforts to regulate the use of memecoins and others criticizing it as an attack on free speech. However, with the growing popularity of memecoins and their potential impact on the financial world, it is clear that some form of regulation is necessary.
As Liccardo prepares to introduce the MEME Act, the debate over the use of memecoins by public officials continues. Only time will tell if this legislation will be successful in curbing their use and protecting the integrity of the financial system.
Metaplanet buys the dip, issues $13.4M in bonds for Bitcoin purchases
Metaplanet, a leading Japanese Bitcoin treasury firm, has recently made headlines by issuing $13.4 million in 0% bonds to fund their ongoing BTC purchases. This move is part of their aggressive strategy to accumulate more Bitcoin and solidify their position as a major player in the cryptocurrency market.
The decision to issue bonds at a 0% interest rate may seem unconventional, but it is a strategic move by Metaplanet to take advantage of the current low interest rate environment. By issuing bonds at a 0% interest rate, the company is essentially borrowing money for free, allowing them to allocate more funds towards their Bitcoin purchases.
This is not the first time Metaplanet has made such a bold move. In fact, the company has been actively accumulating Bitcoin since 2019, when they first announced their intention to hold 100% of their treasury in the cryptocurrency. This decision has proven to be a wise one, as Bitcoin’s value has skyrocketed in recent years, making it a highly profitable investment for the company.
Metaplanet’s aggressive accumulation strategy is a testament to their strong belief in the future of Bitcoin. The company’s CEO, Satoshi Nakamoto, has been a vocal advocate for the cryptocurrency, stating that it has the potential to revolutionize the financial industry and become the global currency of the future.
With this latest bond issuance, Metaplanet has once again demonstrated their commitment to Bitcoin and their confidence in its long-term growth potential. This move also sets a precedent for other companies to follow suit and consider diversifying their treasury holdings with Bitcoin.
As the cryptocurrency market continues to gain mainstream acceptance and adoption, it is clear that companies like Metaplanet are leading the way in embracing this new digital asset class. With their bold and strategic moves, they are positioning themselves for success in the ever-evolving world of finance.
THORChain swap volume explodes past $1B after Bybit hack
THORChain, a decentralized cross-chain liquidity protocol, has been making headlines recently as its swap volume has reached record highs. This surge in activity can be attributed to the recent Bybit hack, which has sparked a frenzy of laundering through various decentralized exchanges.
The Bybit hack, which occurred in May 2021, resulted in the theft of over $2 billion worth of cryptocurrency. This has caused a ripple effect in the crypto community, with many exchanges and protocols implementing stricter security measures to prevent similar incidents from happening in the future.
However, it seems that the hackers behind the Bybit attack are still trying to launder their stolen funds. This is where THORChain comes into play. As a decentralized exchange, THORChain allows users to swap between different cryptocurrencies without the need for a central authority. This makes it an attractive option for those looking to launder their stolen funds.
Since the Bybit hack, THORChain’s swap volume has skyrocketed, reaching record highs. This is a clear indication that the hackers are actively using the protocol to launder their stolen funds. While this may be concerning for some, it also highlights the power and potential of decentralized exchanges like THORChain.
Decentralized exchanges offer a level of security and anonymity that traditional centralized exchanges cannot match. This is because they do not hold user funds or personal information, making them less vulnerable to hacks and data breaches. However, as seen with the Bybit hack, they are not immune to attacks.
Despite this, the surge in THORChain’s swap volume is a testament to the growing popularity and adoption of decentralized exchanges. As more people become aware of the benefits and advantages of using decentralized protocols, we can expect to see even more record-breaking volumes in the future.
Bybit secured UAE in-principle approval days before $1.4B hack
Bybit, a leading cryptocurrency exchange, is making significant strides towards obtaining a full operational license in the United Arab Emirates (UAE). This move comes as the exchange continues to expand its global presence, despite facing regulatory challenges and a recent $1.4 billion crypto hack.
The UAE has been a hotbed for cryptocurrency activity in recent years, with the country’s government showing a growing interest in the industry. Bybit’s efforts to secure a full operational license in the UAE is a testament to the country’s favorable stance towards cryptocurrencies and its potential for growth in the region.
The exchange’s expansion plans have not been without obstacles, as it recently faced a major setback when it fell victim to a $1.4 billion hack. However, Bybit has shown resilience and determination in overcoming this setback, with its efforts to obtain a full operational license in the UAE being a clear indication of its commitment to providing a secure and trustworthy platform for its users.
Bybit’s expansion into the UAE is part of its larger global expansion strategy, which has seen the exchange establish a strong presence in various regions, including North America, Europe, and Asia. This global expansion has been driven by the increasing demand for cryptocurrency trading and the exchange’s commitment to providing a seamless and user-friendly trading experience.
Despite facing regulatory challenges in some regions, Bybit has remained steadfast in its mission to make cryptocurrency trading accessible and secure for users worldwide. The exchange’s efforts to obtain a full operational license in the UAE is a significant step towards achieving this goal and solidifying its position as a leading player in the global cryptocurrency market.
In conclusion, Bybit’s progress towards obtaining a full operational license in the UAE is a testament to its determination and resilience in the face of challenges. As the exchange continues to expand its global presence and improve its security measures, it is poised to become a major player in the ever-growing world of cryptocurrency trading.
Core Scientific posts $265M Q4 loss, unveils $1.2B data center plan
Core Scientific, a leading provider of artificial intelligence and blockchain infrastructure, has recently announced its partnership with CoreWeave, an AI hyperscaler. This collaboration has the potential to generate over $10 billion in cumulative revenue, making it a game-changing move in the tech industry.
With the rapid growth of artificial intelligence and its increasing demand for high-performance computing, the need for efficient and scalable infrastructure has become crucial. This is where Core Scientific and CoreWeave come in, offering cutting-edge solutions to meet the demands of the AI industry.
CoreWeave, with its advanced AI infrastructure, has already established itself as a major player in the hyperscaling market. By partnering with Core Scientific, they aim to further enhance their capabilities and expand their reach. This partnership will enable CoreWeave to leverage Core Scientific’s expertise in blockchain and AI infrastructure, allowing them to offer even more efficient and cost-effective solutions to their clients.
The potential for over $10 billion in cumulative revenue is a testament to the immense growth potential of this partnership. With the increasing adoption of AI technology in various industries, the demand for high-performance computing is only going to rise. This presents a huge opportunity for Core Scientific and CoreWeave to capitalize on and establish themselves as leaders in the AI infrastructure market.
Moreover, this partnership is not just about generating revenue, but also about driving innovation and pushing the boundaries of what is possible with AI technology. With their combined expertise and resources, Core Scientific and CoreWeave are well-positioned to revolutionize the AI industry and pave the way for groundbreaking advancements.
In conclusion, the partnership between Core Scientific and CoreWeave is a significant development in the tech industry, with the potential to generate massive revenue and drive innovation in the AI space. As the demand for high-performance computing continues to grow, this collaboration is poised to make a significant impact and solidify its position as a key player in the AI infrastructure market.
Is Bitcoin solo mining viable in 2025?
Bitcoin mining is the process of adding new transactions to the blockchain and verifying them. This is done by solving complex mathematical equations using specialized computer hardware. The first miner to solve the equation and add the block to the blockchain is rewarded with newly created bitcoins.
While it is technically possible for an individual to mine a block solo, the chances of success are extremely low without significant hash power. Hash power refers to the computing power and resources needed to solve the equations and mine a block. With the increasing popularity and value of Bitcoin, the competition for mining blocks has also increased, making it even more difficult for solo miners to be successful.
Most miners join mining pools, where they combine their hash power with other miners to increase their chances of successfully mining a block and receiving the reward. By pooling resources, miners can also share the costs of expensive mining equipment and electricity, making it more cost-effective.
However, there are still some advantages to solo mining. For one, the rewards are not split among a group, so the individual miner receives the full reward. Additionally, solo mining allows for more control over the mining process and the choice of which transactions to include in the block.
Overall, while solo mining is technically possible, it is not a practical option for most individuals. Joining a mining pool is a more realistic and profitable option for those interested in mining Bitcoin. As the popularity and value of Bitcoin continue to rise, the competition for mining blocks will only increase, making solo mining even more challenging.
Is BTC price about to fill a $78K Bitcoin futures gap?
Bitcoin, the world’s largest cryptocurrency, has been on a wild ride in recent months, with its price reaching new all-time highs and then experiencing sharp drops. As the market continues to be volatile, many investors are wondering what the future holds for Bitcoin.
One factor that could potentially impact Bitcoin’s price in the near future is the existence of unfilled CME futures gaps. These gaps occur when the price of Bitcoin moves quickly, leaving a gap in the chart that is not filled by subsequent price movements. These gaps act as magnets, pulling the price towards them and potentially creating a target for traders.
Currently, there are two unfilled CME futures gaps that are creating targets for Bitcoin’s price. The first gap is at $16,500, which was created in November 2020 when Bitcoin’s price surged to new highs. The second gap is at $11,100, which was created in September 2020 when Bitcoin’s price dropped sharply.
These gaps have been a topic of discussion among traders and analysts, with some believing that they will eventually be filled and others arguing that they may never be filled. However, regardless of whether these gaps are filled or not, they are creating clear targets for Bitcoin’s price in the near term.
In addition to the CME futures gaps, there are other factors that could impact Bitcoin’s price in the coming weeks and months. These include the ongoing COVID-19 pandemic, economic uncertainty, and the increasing adoption of Bitcoin by institutional investors.
Despite the uncertainty surrounding Bitcoin’s future, many experts remain bullish on the cryptocurrency, citing its limited supply and growing mainstream acceptance as reasons for its potential long-term success. As always, it is important for investors to do their own research and make informed decisions when it comes to investing in Bitcoin or any other cryptocurrency.