Monat: Juli 2024

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Donald Trump to speak at the Bitcoin 2024 conference

  • Donald Trump will speak at the Bitcoin 2024 conference in Nashville, Tennessee.
  • The Bitcoin Coinferene revealed this in an announcement early Thursday.
  • Trump related meme coins surged amid the news.

The organizer of the Bitcoin 2024 conference has announced that former US President Donald Trump will be one of the speakers.

Bitcoin 2024 is set to take place in Nashville, Tennessee from July 25 to July 27. This is one of the biggest bitcoin conferences in the world and will see Trump join a roster of top Bitcoiners at a time crypto is increasingly a top topic for politicians.

News that the former president will attend and speak at the conference comes a few weeks after it was revealed that Trump had eyes on the event. The Republican Party nominee met Bitcoin miners at his Mar-a-Lago home in June and advocated for the US becoming the top BTC mining country.

In recent months, the Trump campaign has accepted political donations in crypto. Some of the top Bitcoin and crypto donations have come from Gemini founders Cameron and Tyler Winklevoss and Kraken co-founder Jesse Powell.

Apart from Trump, Bitcoin 2024 will have Robert F. Kennedy Jr., Vivek Ramaswamy and Senator Bill Hagerty among the speakers.  

TrumpCoin (DJT) soars

The announcement that Donald Trump will speak at Bitcoin 24 has sparked considerable gains for meme coins – particularly political meme coins.

While not affiliated to the former US president, these PolitiFi tokens have surged as traders bet on the Republican Party candidate’s chances of winning in November’s election.

One of the top gainers in the politics related meme coins is TrumpCoin (DJT), which was up more than 20% in the past 24 hours. MAGA Hat is also seeing a notable price gain as most tokens battle to shake off bears.

Meanwhile, Bitcoin has returned above $58,000 after reclaiming the $57k level. However, bears continue to cycle as selling pressure from the German government continues.

On Thursday, on-chain data showed the German government’s wallet had sent another 2,375 BTC worth approximately $137.8 million to exchanges, including Kraken, Bitstamp and Coinbase.

The post Donald Trump to speak at the Bitcoin 2024 conference appeared first on CoinJournal.

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Core Scientific the first buyer of Block’s 3nm Bitcoin mining ASICs

  • Core Scientific buys Block’s 3nm Bitcoin ASICs in a major deal between the two companies.
  • The deal boosts Core Scientific’s hash rate by 60%, enhancing efficiency and profitability.
  • The deal between Block and Core Scientific aims to redefine Bitcoin mining standards, leveraging advanced ASICs.

Jack Dorsey’s financial services company Block has finalized a major deal with Core Scientific, marking the first sale of its highly anticipated 3 nanometer Bitcoin mining ASICs.

This deal marks one of the largest ASIC agreements ever signed in the history of Bitcoin mining, underscoring Block’s commitment to advancing mining technology and Core Scientific’s strategic expansion in the sector.

Block’s 3nm Bitcoin mining ASICs

Developed by Block’s Proto team, the 3nm mining ASICs represent a leap forward in efficiency and performance for large-scale Bitcoin mining operations.

By integrating cutting-edge technology into these chips, Block aims to significantly enhance the efficiency, reliability, and uptime of mining activities conducted by firms like Core Scientific.

The 3nm ASCIs provides Core with 15 exahashes per second (EH/s) worth of chips and are set to increase the mining firm’s energized hash rate by a remarkable 60% as of June 2024.

Core Scientific, a publicly traded Bitcoin mining giant, has emerged as a key player in the industry’s recovery following recent challenges. The company’s stock (CORZ) has surged, reflecting investor confidence in its ability to leverage advanced mining technologies to bolster operational capabilities and profitability.

Core Scientific’s decision to purchase Block’s 3nm Bitcoin mining ASICs comes amidst a broader industry trend towards greater efficiency and sustainability in cryptocurrency mining, driven by technological innovation and environmental considerations.

Block pioneering a new era in Bitcoin mining

According to Russell Cann, Chief Development Officer at Core Scientific, the collaboration with Block marks a pivotal moment in scaling Bitcoin mining operations.

Cann emphasizes that the new mining platform built around Block’s 3nm ASICs will not only optimize space and operational resources within their data centers but also contribute to the long-term vitality of the Bitcoin network.

The partnership underscores a shared vision to redefine industry standards and accelerate the adoption of advanced mining technologies globally.

The strategic alliance between Block and Core Scientific highlights the growing importance of technological innovation in sustaining and expanding Bitcoin mining capabilities.

As the cryptocurrency landscape continues to evolve, advancements in ASIC technology are expected to play a crucial role in enhancing the efficiency and profitability of mining operations.

With Core Scientific leading the charge as the first recipient of Block’s 3nm ASICs, the stage is set for further advancements that could shape the future of Bitcoin mining worldwide.

The post Core Scientific the first buyer of Block’s 3nm Bitcoin mining ASICs appeared first on CoinJournal.

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CFTC Chair says 70-80% of cryptocurrencies are non-securities

  • CFTC Chair Rostin Behnam says a majority of cryptocurrencies, 70-80%, are non-securities.
  • Behnam appeared before the  U.S. Senate Committee on Agriculture, Nutrition and Forestry’s Hearing on the Oversight of Digital Commodities on Wednesday.

Rostin Behnam, the chairman of the Commodities Futures Trading Commission (CFTC), has reiterated his belief that the CFTC is better placed as the agency to oversee crypto.

The CFTC chair made the comments in a testimony during the  U.S. Senate Committee on Agriculture, Nutrition and Forestry’s Hearing on the Oversight of Digital Commodities on Wednesday.

Behnam told lawmakers of the recent court rulings in Illinois that declared Bitcoin (BTC) and Ethereum (ETH) are commodities.

“Just last week, a District Court in the Northern District of Illinois entered summary judgment in favor of the CFTC in a case involving fraud by an unregistered entity that promised steady returns in digital asset commodities such as Bitcoin and Ether. In its decision, the court re-affirmed that both Bitcoin and Ether are commodities under the Commodity Exchange Act,” he said in a testimony.

In the same manner, the CFTC chair noted that most of the cryptocurrencies in the market are not securities, with a percentage applicable to this being around 70-80%.

Behnam also talked of the Commission’s regulatory efforts, particularly in bringing enforcement actions against individuals and entities that breach the commodities laws, including in the digital commodities market.

The CFTC has over the past few years filed more than 135 digital commodity-related cases, with the lawsuits resulting in billions of dollars in penalties and restitution.

While the CFTC continues to work with  law enforcement, there’s continued escalation of digital asset fraud and other violations, largely down to “accelerated and sustained adoption of digital assets by U.S. investors.”

The post CFTC Chair says 70-80% of cryptocurrencies are non-securities appeared first on CoinJournal.

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Ronaldinho Becomes Latest to Promote Solana Meme Token on Instagram

  • Ronaldinho is the latest soccer star to promote Water Coin on Instagram, a Solana-based meme coin
  • Earlier this week, soccer legend Lionel Messi promoted Water Coin on his Instagram Stories
  • The price of Water Coin rose nearly 40% to $0.0012
  • Water Coin claims it’s focusing on water-related issues and sustainable projects

Soccer legend Ronaldinho Gaúcho has become the latest to promote the Solana-based meme token Water Coin on his Instagram account.

On social media, the Brazilian retired soccer star posted a story to his 76.6 million followers showing a photo of him with the Water Coin’s mascot peering over his shoulder. It also tagged the project’s Instagram account.

Following Ronaldinho’s post, Water Coin’s price rose nearly 40% to $0.0012. The excitement didn’t last long, and at the time of publication, Water Coin’s price had levelled at around $0.00088, CoinMarketCap data shows.

Ronaldinho’s post follows that of another football legend, Lionel Messi.

Earlier this week, the Argentinian player promoted Water Coin on his Instagram Stories. Like Ronaldinho, Messi showed a picture of himself with the meme coin’s mascot peeking over his shoulder, along with tagging the project’s Instagram account.

Notably, one of the exchanges listing the Water token is Bitget, a company Messi has been partnered with since 2022.

Facing Criticism

According to its website, the charity token “aims to have a net-positive impact on [the] real world with the help of charity.” However, it doesn’t state how it will achieve this.

Despite the promotion from several well-known soccer players, some have met their posts with criticism.

Taking to X, analyst @ericonomics wrote of Messi that this was the “third token scam” that he’s promoted, adding “this time it’s Water. They will probably rug soon so make yourself a favour and don’t buy that sh*t.”

“The first one was Leafty, which was a rug (they removed the liquidity like 5 days later lol),” @ericonomics wrote. “The second one was PLANET, a slow rug that is like -90% since that promotion.”

Similarly, this isn’t the first time Ronaldinho has been connected with a controversial crypto project. Last August, he appeared before a Brazilian parliamentary committee inquiry over an alleged $61m crypto pyramid scheme that used his likeness without permission.

The scheme, “18kRonaldinho, used images of the soccer star in its marketing while promising investors a 2% daily return. During the inquiry, Ronaldinho denied any involvement, claiming he never partnered with the company.

The post Ronaldinho Becomes Latest to Promote Solana Meme Token on Instagram appeared first on CoinJournal.