Making headlines in crypto this week
- Alameda colleague accuses Sam Bankman-Fried of wrongdoing
- SEC official doubts approval of spot Bitcoin ETFs
- Bitcoin’s halving raises concerns for miners
- Lawsuit filed against Crypto.com for negligence
- New token-sharing app surprises Ethereum ecosystem
Bitcoin Miner Purchases Ramp Up
A Twitter user calculates limited supply of Bitcoin makes it impossible for every person to own it.
When the last Bitcoin is awarded, each person may own only a small fraction of the asset.
Miners are investing in new machines to remain profitable after the halving, but increasing hashrate does not guarantee success.
Crypto – Socially Speaking
A solo miner earns 6.25 Bitcoin using CKpool mining service.
Former SEC official predicts no approval for a spot Bitcoin ETF due to lack of transparency in the industry.
New social platform on Coinbase’s Base blockchain sees a surge in sign-ups.
Token founder sues Crypto.com for swiping funds and causing health problems.
Alameda House of Cards Collapses
Former Alameda engineer accuses Sam Bankman-Fried of misappropriation and lack of risk management.
Bankman-Fried is in jail for violating bail agreements.
How the Top 10 Cryptos Fared This Week
Performance of the top 10 cryptocurrencies this week.
Hot Take:
The crypto industry continues to face challenges and controversies, from legal battles and skeptical regulators to concerns about the concentration of Bitcoin holdings. While the future of Bitcoin ETFs remains uncertain, miners are grappling with reduced profits after the halving. The industry’s lack of transparency is a point of contention, but new platforms and apps are still gaining traction. As the Alameda saga unfolds, it serves as a reminder of the risks and pitfalls within the crypto world. Overall, the week in crypto has been eventful and filled with both excitement and caution for crypto enthusiasts.
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