Author: Token Flash
Shares of Bitcoin miner Bit Digital climbed 7% after the company reported more than a 140% revenue jump in 2024, fueled by its growing cloud services segment. Bit Digital’s latest financial results suggest a major shift is underway as its expanding cloud services and high-performance computing operations appear to be reshaping its revenue mix. In a press release on Friday, March 14, Bit Digital reported $108.1 million in total revenue for 2024, a 141% increase from the previous year. The company’s management attributed the surge to the successful rapid expansion of its HPC business. Data shows that cloud services, which…
Billionaire investor Tim Draper has reiterated his bullish stance on Bitcoin, predicting that the cryptocurrency will reach $250,000 by the end of 2025 Source link
Bitcoin and other cryptocurrencies have remained in a strong downtrend this year, shedding over $1 trillion in value. Bitcoin (BTC) has crashed from the year-to-date high of $109,300 to $82,000, while popular altcoins like Ethereum (ETH), Ripple (XRP), and Cardano (ADA) have had deeper dives. Crypto prices have fallen due to rising fear in the financial markets. The crypto fear and greed index has dropped to the extreme fear zone of 19. Similarly, the fear gauge tracked by CNN Money has dropped to 20. The main catalyst for this sell-off is growing concern that the United States is heading toward…
Solana (SOL) transaction count grows from 889.7M to 2.6B, but daily active users drop to 3.1M. The declining developer count and network fees suggest challenges for sustained growth. Solana (SOL) has been trading in the bearish momentum for a while. Currently, it is trading below key moving averages on a daily time frame, indicating bearish signals. However, despite the bearish sentiments, experts and the community are positive about SOL. Renowned Bitcoin analyst, Ali Martinez, said in his latest X post that Sol could reach the $3,800 mark. He describes that Solana is shaping up into a…
A prominent Democrat lawmaker, Congressman Gerry Connolly, has urged the U.S. Treasury to halt former President Donald Trump’s proposal for a strategic Bitcoin reserve. Source link
Thomas John “T.J. Stone” Sfraga was sentenced in federal court for scamming real estate and crypto investors through a business inspired by the 90s TV show Seinfeld. According to a press release from the U.S. Attorney’s Office, Sfraga was sentenced to 45 months in prison and ordered to pay nearly $1.4 million in forfeiture to the state. The restitution amount will be announced at a later date. Sfraga pleaded guilty to wire fraud charges in May 2024. He reportedly convinced multiple victims to invest in a fake crypto project called “virtual wallet.” He promised investors returns as high as 60%…
Russia trades oil with China & India using crypto to bypass sanctions. Crypto intermediaries convert yuan & rupees into roubles for payments. Despite regulations, crypto’s role in Russia’s $192B oil trade is growing. With more strict Western sanctions, Russian oil companies are using more and more cryptocurrencies to trade with India and China, Reuters. This reflects the part played by cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT) in avoiding traditional financial rules. Crypto as a Tool to Trade Russian oil firms are employing crypto to convert Indian rupees and Chinese yuan into Russian roubles for cross-border…
Russia is relying on crypto in its oil trade with China and India to navigate Western sanctions. While traditional currencies like the Chinese yuan and Indian rupee remain dominant, digital assets such as Bitcoin (BTC), Ethereum (ETH), and the stablecoin Tether (USDT) are being used to facilitate conversions into Russian roubles, sources told Reuters. Russia’s $192 billion oil trade has been adapting to financial restrictions since the invasion of Ukraine. Last year, the country passed a law permitting digital currency payments for international trade, but its use in the oil sector had not been previously reported. Crypto payments help streamline…
Is this the moment that turns small investments into generational wealth? The meme coin frenzy is back, and it’s bigger, bolder, and wilder than ever with the Best 100x Cryptos. With each cycle, meme coins shake up the market, turning everyday traders into overnight millionaires. But this time, it’s different. The game has changed, and new players like BTFD Coin (BTFD) are rewriting the rules with real utility, massive staking rewards, and an explosive presale that’s already raised over $6.32 million. If you missed Dogecoin and Shiba Inu’s early days, this is your second chance. BTFD Coin is set to…
Solana’s price has come under pressure over the past two months amid growing concerns about its ecosystem. Solana (SOL) has dropped from its year-to-date high of $295.52 to a low of $112 this week, wiping out $71 billion in market value as its market cap plunged from $139 billion to $68 billion. Solana’s crash was because of the ongoing crypto crash that has brought the total market cap of the whole industry to $2.8 trillion. The price drop has also been fueled by rising concerns about Solana’s ecosystem, which has become increasingly linked to meme coins. The market cap of…