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Block, Inc. has outlined a strategic pivot to expand its presence in bitcoin mining, signaling a commitment to the cryptocurrency sector and its infrastructure needs, according to its recent third-quarter shareholder letter. Block’s New Investment Focus on Bitcoin Mining Infrastructure In a letter to shareholders, Block identifies bitcoin mining as a key growth path, driven … Read more
Block missed its revenue estimates for Q3 and said it is “winding down” its DeFi business to shift money into its Bitcoin mining and wallet businesses. Go to Source
Jack Dorsey’s Bitcoin-friendly financial services firm Block saw its stock rally 13% in October, coming in line with bullish market action. Go to Source
A ‘warden’ of the platform discovered that an attacker could mint massive amounts of tokens by forcing token prices to diverge from their oracle prices. Go to Source
Robinhood Crypto LLC has agreed to pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts between 2018 and 2022. Go to Source
Binance has assured its users that their funds are safe after Venezuela cut off access to the exchange and social media platform X. Go to Source
CANTV, a Venezuelan state-owned ISP, has reportedly started blocking traffic to Binance, one of the largest cryptocurrency exchanges in the world. The company, which controls a significant portion of the Venezuelan broadband market, has left thousands of Venezuelans without access to their savings and even P2P markets, which are popular among those using crypto as … Read more
The U.S.-based fintech company, Mercury, will offboard startups whose founders reside in or whose businesses are headquartered in 14 African countries and six non-African states. Mercury CEO Immad Akhund stated that this decision impacts customers whose deposits constitute less than 1% of Mercury’s total deposits. Affected Customers’ Deposits Less Than 1% of Mercury’s Mercury Bank, … Read more
Core Scientific, a large U.S.-based bitcoin mining and hosting provider, and Block, a leading financial services firm, have partnered in a project to integrate the first 3nm bitcoin mining chips produced by the latter. Core Scientific will receive 15 exahash per second (EH/s) of Block’s mining ASIC chips, with the possibility of ordering additional silicon … Read more
Billionaire Jack Dorsey foresees a future where bitcoin could supplant the U.S. dollar as the dominant global currency. He envisions a scenario where bitcoin’s value could soar to $1 million by 2030. Highlighting the cryptocurrency’s decentralized nature, Dorsey underscores its potential to democratize financial systems and reduce reliance on traditional banking institutions. Jack Dorsey Anticipates … Read more
