Kazakhstan’s Financial Monitoring Agency (AFM) and National Security Committee (KNB) have uncovered an illegal crypto mining scheme that siphoned more than $16 million worth of electricity to mining farms. Kazakhstan Agencies Clamp Down On Illegal Crypto Mining According to a statement released today, Kazakh financial and law enforcement authorities dismantled a large-scale operation in East Kazakhstan Oblast that illegally sold electricity to mining companies. The AFM and KNB said the stolen power could have supplied the needs of a small city in the region. Notably, employees of local utility providers had been illegally selling electricity to mining companies over the…
Author: ₿e Proud
New York-based stablecoin developer Paxos Trust Company, has announced its intention to apply for a national trust bank charter in the United States, as reported by Reuters on Monday. Paxos Joins Ripple And Circle In Pursuit If granted by the US Office of the Comptroller of the Currency (OCC), the charter would empower Paxos to manage and hold customer assets while facilitating faster payment settlements. However, the Reuters report notes that unlike traditional banks, the stablecoin development company would not be authorized to accept cash deposits or extend loans. This transition would convert Paxos’ existing limited purpose trust charter from…
Ethena (ENA) has experienced notable growth in the cryptocurrency market, recording a 150% increase over the past 30 days and rising by 40% during the previous week. The explosive growth coincides with the protocol’s Total Value Locked (TVL) surpassing $10 billion for the first time, driven by surging adoption of its synthetic dollar, USDe, which recently became the world’s third-largest stablecoin by market cap. Daily $5 million ENA buybacks are tightening supply, while whale addresses holding 100k–1M ENA have grown 12% in July, now controlling nearly 30% of circulating tokens. Ethena (ENA)’s Golden Cross Signals Strong Bullish Momentum Technically, ENA’s…
Key Takeaways Elon Musk intends to sue Apple for allegedly restricting AI companies in the App Store. Musk claims Apple unfairly favors OpenAI while blocking competitors like xAI from top rankings. Elon Musk has threatened to file an antitrust lawsuit against Apple, claiming the tech giant unfairly restricts AI companies, except OpenAI, from reaching top positions in its App Store. Apple is behaving in a manner that makes it impossible for any AI company besides OpenAI to reach #1 in the App Store, which is an unequivocal antitrust violation. xAI will take immediate legal action. — Elon Musk (@elonmusk) August…
BitMine Immersion Technologies Inc. shares jumped this week after a steep rally on Friday, and traders kept the momentum into Monday. According to company disclosures, BitMine reported holding 1.15 million ETH as of August 10, with that stash valued at $4.96 billion, up from roughly 833,137 ETH and nearly $3 billion just a week earlier. Markets have reacted fast. Ethereum Momentum And Policy Push Ether’s push above $4,200 over the weekend helped fuel interest in companies linked to crypto. US President Donald Trump signed an executive order last week that opens the door for cryptocurrencies to be included in 401(k)…
Bitcoin (BTC) surged past $122,000 on Monday, coming within 1% of its all-time high of $123,218. The rally has been fueled by high spot Bitcoin ETF inflows, renewed corporate accumulation, and a pro-crypto policy shift from the White House. Over the last three days of trading, U.S. spot Bitcoin ETFs absorbed $773 million in net inflows, according to Farside Investors. BlackRock’s IBIT fund now holds $80 billion in BTC, closing in on the $94 billion held by the largest gold ETF. On the corporate front, Michael Saylor’s MicroStrategy signaled continued Bitcoin purchases, expanding its already massive $76.8 billion treasury. Henrik…
On-chain data shows the recent Bitcoin HODLer profit-taking spree is driven by buyers from the last cycle, unlike the November-December peaks. Bitcoin Long-Term Holder Realized Profit Has Seen A Slowdown This Month In a new post on X, on-chain analytics firm Glassnode has talked about the trend in the Realized Profit of the Bitcoin long-term holders. The long-term holders (LTHs) refer to the BTC investors who have been holding onto their coins for more than 155 days. Statistically, the longer a holder keeps their coins dormant, the less likely they are to transfer or sell them in the future. As such, the…
Key Takeaways Stripe is developing Tempo, a high-performance blockchain for payments, in partnership with Paradigm, per a now-removed job posting. The move follows Stripe’s $1.1B acquisition of stablecoin firm Bridge and its purchase of crypto wallet developer Privy. Share this article Stripe is quietly developing a new blockchain, marking its latest push into the crypto and stablecoin ecosystem, according to a Fortune report. A recently removed job posting for the crypto lobby group Blockchain Association described the project, called Tempo, as a high-performance, payments-focused blockchain. The listing said Tempo is in stealth, run by a five-person team, and built in…
Senator Elizabeth Warren is stepping up her call for strict cryptocurrency regulation, worried that industry-backed legislation can undermine consumer protections and weaken oversight. She is calling for measures that exclude corporate influence from policy-making and keep public servants from holding financial interests that could sway their decisions. Warren Rejects Industry-Written Rules In her recent remarks, Warren opposed pro-crypto legislation including the GENIUS Act and the CLARITY Act, referring to them as “gifts” for the big players in the digital asset space. Her reasoning is that these bills would create holes in accountability along with further empowering large corporations. Her stance…
Most organizations say they aren’t fully prepared to use generative AI in a safe and responsible way, according to a recent McKinsey report. One concern is explainability – understanding how and why AI makes certain decisions. While 40% of respondents view it as a significant risk, only 17% are actively addressing it, per the report. Seoul-based Datumo began as an AI data labeling company and now wants to help businesses build safer AI with tools and data that enable testing, monitoring, and improving their models—without requiring technical expertise. On Monday the startup raised $15.5 million, which brings its total raised…