BitFuFu Q3 revenue doubles as rising Bitcoin prices boost miner demand
Singapore-based cloud Bitcoin miner BitFuFu doubled its third-quarter revenue from the previous year, driven by demand for cloud mining and equipment as miners sought to capitalize on the rising price of Bitcoin. Total revenue increased 100% to $180.7 million compared to the same period last year, with cloud mining making up $122 million, according to
UAE’s ‘digital dirham’ CBDC pilot completes first transaction
The United Arab Emirates’ central bank digital currency pilot has made its first transaction, reportedly completed in under two minutes. The United Arab Emirates has made the first transaction with its central bank digital currency in the first major update to the project since it was announced in March. The United Arab Emirates’ Ministry of
Nationally chartered bank SoFi rolls out crypto trading for US customers
SoFi CEO Anthony Noto says the bank also plans to introduce a stablecoin called SoFi USD and views blockchain and crypto as a “super cycle technology.” US bank SoFi Technologies has launched crypto trading services to its customers, as clearer rules have allowed the crypto market to court greater interest from traditional finance. SoFi said
Jack Dorsey’s Square has just opened up 4M merchants to Bitcoin
Payment processor Square has launched its Bitcoin payment feature for sellers, allowing them to opt in and accept Bitcoin (BTC) at checkout through its point-of-sale system. Jack Dorsey, co-founder of Block, which owns Square, said in an X post on Monday that with the new feature, merchants using Square can receive Bitcoin to Bitcoin, Bitcoin
The best crypto treasuries are ‘doing something hard:’ Bitwise
Bitwise chief investment officer Matt Hougan says digital asset treasuries need to start taking the hard path if they want to stand out from the crowd; otherwise, investors are better off investing in crypto exchange-traded funds instead. One of the best ways to discern whether a digital asset treasury (DAT) is worth looking at is
Nordic bank that once shunned crypto to soon offer a Bitcoin ETP
Nordea announced in 2018 that it would ban employees from buying and holding Bitcoin due to concerns that the crypto market was unregulated. Scandinavia’s largest bank, Nordea, has shifted its stance on crypto in the face of growing adoption and regulatory clarity, announcing its customers can access an external Bitcoin-linked exchange-traded product (ETP) in December.
‘Corpo chains’ doomed unless they embrace crypto’s ethos: StarkWare CEO
StarkWare CEO Eli Ben-Sasson said corporate blockchains will help with mainstream adoption, but long term, they will be abandoned if they try to retain control. Blockchains created and controlled by corporations will eventually die, as users won’t want a chain controlled by a central entity, according to Eli Ben-Sasson, co-founder and CEO of blockchain company
Ripple seeks to buy $1 billion XRP tokens for new treasury: Report
Ripple Labs is already a significant XRP holder, with its market report from earlier this year revealing it had 4.5 billion tokens in its stash, with another 37 billion locked in escrow. Ripple Labs is reportedly on the cusp of launching a fundraising effort to purchase $1 billion worth of its XRP token to hold
Ghana central bank targets December to have crypto regulations in place
Ghana’s central bank aims to have crypto regulations in place by the end of the year, with the West African country advancing a bill to parliament just a week after Kenya passed its own bill regulating the industry. Johnson Asiama, the governor of the Bank of Ghana (BoG), said at the International Monetary Fund’s meetings
Bank of England clarifies plan to limit stablecoins is temporary
Bank of England Deputy Governor Sarah Breeden has clarified that the central bank’s plan to restrict stablecoin holdings and transaction size will only be a temporary measure to ensure stability in the financial system. The proposed limits on stablecoins were first floated in a November 2023 discussion paper as a means to ensure financial stability.