This is a segment from the Empire newsletter. To read full editions, subscribe . MicroStrategy is sucking most of the air out of the room right now. But there are even bigger forces at play. As debate rages over whether Saylor is a once-in-a-lifetime financial genius or just another overleveraged trader, stablecoins are bringing even
Bitcoin’s recent price surge has driven up mining equipment costs, with Shenzhen’s Huaqiangbei district—a global hub for crypto hardware—seeing a notable 30% price hike. According to a report by Wen Wei Po, the price of the Antminer S21 335T, a mining device, has now reached $5,600, or around RMB 40,700, climbing up by 30% compared
Justin Sun’s team reportedly complained to Bullish, CoinDesk’s owners, regarding an article about Sun eating the world’s most expensive banana. Sources say Bullish demanded CoinDesk remove the article. According to a Fortune report published on Dec. 18, the Tron (TRX) founder’s team allegedly went to Bullish, a crypto exchange firm that bought the media outlet
Coinbase has successfully fended off a restraining order sought by BiT Global as a California court ruled in favor of the exchange’s decision to delist Wrapped Bitcoin. The Hong Kong-based company BiT Global is allegedly tied to crypto entrepreneur and Tron founder Justin Sun, who had sought the order to prohibit Coinbase from removing Wrapped
Federal Reserve chair Jerome Powell reiterated the bank’s position on a Bitcoin reserve from an existing legal perspective. Speaking at a routine conference after announcing monetary decisions, Fed chair Powell stated that the U.S. central bank cannot own Bitcoin (BTC) and, thus, is unable to hold a BTC reserve. The bank regulator stressed that current
Aave DAO delegate and service provider Aave Chan Initiative has initiated a proposal on the crypto lender’s governance forum to deploy Aave v3 on Sonic. Sonic Labs announced the mainnet launch of its layer-1 Ethereum Virtual Machine-compatible blockchain Sonic on Dec. 18. The new governance proposal seeks community support that would allow the integration of
At the Plan ₿ Forum in Lugano, Switzerland, Tether CEO Paolo Ardoino gave an insight into the financial reserves of Tether, disclosing that the stablecoin heavyweight holds 82,454 BTC and 48.3 tons of gold. Paolo Ardoino Clarifies Tether’s Asset Reserves Following Forum Presentation This week, tether’s market cap soared past $120 billion, making it about
Economist Peter Schiff forecasts a “Trump dump” for bitcoin, questioning its weak momentum amid Donald Trump’s rising election odds. Peter Schiff Sees ‘Trump Dump’ for Bitcoin Economist and gold advocate Peter Schiff, known for his skeptical view on bitcoin and fervent support of gold, has shared insights on both assets amid recent market shifts. Posting
Ethereum founder Vitalik Buterin responded to concerns about ETH token sales by him and the Ethereum Foundation, which has repeatedly sold ETH for cash this year. On-chain analyses have frequently highlighted periodic ETH movements from the Ethereum Foundation. For example, on October 15, the foundation sold ETH valued at approximately $258,000. A week before that
According to a Friday report by the Wall Street Journal, Tether, the flagship stablecoin issuer, is currently being investigated by the US government. The probe is meant to determine whether or not Tether has violated anti-money-laundering rules and sanctions. The Bitcoin price plunged sharply lower following the report, currently trading at $65,971 on the Bitstamp