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In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether, as $1 is now worth 15 cents
Aerial view during landing of the seafront Manara district near downtown Beirut. Bilwander | Getty Images When Georgio Abou Gebrael first heard about bitcoin in 2016, it sounded like a scam. But by 2019, as Lebanon plunged into a financial crisis following decades of expensive wars and bad spending decisions, a decentralized and borderless digital […]
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Bitcoin miner Main Scientific troubles personal bankruptcy warning and the stock is down 97% for the 12 months
An array of bitcoin mining models inside of a container at a Cleanspark facility in Faculty Park, Georgia, U.S., on Friday, April 22, 2022. Elijah Nouvelage | Bloomberg | Getty Photos Main Scientific, one of the largest publicly traded crypto mining businesses in the U.S., elevated the probability of personal bankruptcy in a statement submitted […]
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Crypto winter is hurting Google’s advertisement empire
A cryptocurrency value crash and the onset of a new so-referred to as “crypto wintertime” has left numerous businesses in the industry struggling with a liquidity disaster. Artur Widak | Nurphoto | Getty Images Not even Google is immune from the Crypto winter. In Alphabet’s third-quarter earnings call on Tuesday, Philipp Schindler, Google’s chief business […]
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El Salvador’s bitcoin experiment: $60 million lost, $375 million spent, little to show so far
Salvadoran President, Nayib Bukele speaks during an event in May 2021. El Salvador become the first country to adopt bitcoin as legal tender in June. Camilo Freedman | SOPA Images | LightRocket | Getty Images It has been more than a year since El Salvador made history by becoming the first country to make bitcoin […]
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The application employed in bitcoin mining is acquiring its initially major makeover in far more than a ten years — this is what’s shifting
Staff function on bitcoin mining personal computers at Bitminer Manufacturing facility in Florence, Italy. Alessandro Bianchi | Reuters Software used in bitcoin mining just bought its very first up grade considering the fact that late 2012, and a coalition of firms which includes payments big Block (previously Square) is attempting to help press the open-supply […]
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FTX is shelling out $51 million in dollars for Voyager property, courtroom records show
Sam Bankman-Fried, founder and main executive officer of FTX Cryptocurrency Derivatives Trade, speaks for the duration of an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Jeenah Moon | Bloomberg | Getty Pictures Sam Bankman-Fried, FTX’s founder, has pursued an aggressive purchasing spree throughout […]
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The ‘merge’ has arrived — Wednesday is your last possibility to acquire ether in advance of historic makeover
It is really time for the “merge.” The many years-in-the-building, systemwide upgrade to the ethereum blockchain is set to roll out on Wednesday, marking a single of the crypto sector’s most historic events to day. Primary up to the overhaul, traders have been jumping into ether, the indigenous token to ethereum. In the past 3 […]
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Ethereum just wrapped the final dress rehearsal for one of the most important events in crypto
Ethereum is the world’s second-biggest cryptocurrency, and it’s giving bitcoin a run for its money. Getty Ethereum, the second-largest cryptocurrency by market value, just ran a final dress rehearsal ahead of a years-awaited upgrade that’s been billed as one of the most important events in the history of crypto. Since its creation almost a decade […]
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It has been a miserable month for crypto — and it’s only the third day of August
It has been a rough month for the crypto sector, and it’s only the third day of August. From cross-chain bridge hacks draining hundreds of millions of dollars in customer funds to the Securities and Exchange Commission coming after crypto ponzi schemes, this corner of the market can’t catch a break. The developments add to […]
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MicroStrategy CEO Saylor moves to chairman role, focusing on strategy and bitcoin
MicroStrategy’s Michael Saylor is leaving his role as CEO to become Executive Chairman of the company, according to a statement released by the company on Tuesday afternoon. The company’s president, Phong Le, will take the reins from Saylor. Saylor has been in the role of chief executive since launching the company in 1989. MicroStrategy went […]
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