Press Releases Daily TheBitTimes.com

If the U.S. DOJ indicts Binance executives on charges similar to those already issued by regulators, could it have an unusual effect on the cryptocurrency market in the year ahead? In early August, sources leaked word that officials with the United State Department of Justice were considering fraud charges aimed at Binance, the world’s largest cryptocurrency exchange. However, they indicated, officials are worried that it could cause a run on the market akin to the November 2022 collapse of FTX. Those concerns have not deterred the Securities and Exchange Commission or the Commodity Futures Trading Commission from levying their own charges against Binance, which in part accused the exchange and its founder, Changpeng “CZ” Zhao, of allowing Americans to use products they are prohibited from accessing and of manipulating trading volume with a market-maker called Sigma Chain that Zhao “owned and controlled.” To put the numbers in perspective, at the time of writing, Binance had facilita...

The new rigs will add 7.6 EH/s to the firm’s self-mining capacity. However, the rigs won’t be installed until the first quarter of next year. Riot Platforms (RIOT) — one of the world's major Bitcoin (BTC) mining companies — has bought 33,280 “next-generation” Bitcoin miners to add to its Texas facility for $162.9 million. The rigs — which were sourced from mining manufacturer MicroBT — will boost the firm’s self-mining capacity by 7.6 exahashes per second (EH/s) and comes “in advance” of Bitcoin’s next halving cycle, which is set to take place in mid-2024. Riot Purchases 7.6 EH/s of Next Generation Miners from MicroBT, Manufactured in the United States. Read more in today’s press release: https://t.co/esLToy798H — Riot Platforms, Inc. (@RiotPlatforms) June 26, 2023 Riot Platforms CEO Jason Les stated on June 26 that the deal will increase the firm’s self-mining capacity to 20.1 EH/s once the machines begin to be installed in the first quarter of 2024: “These new miners will c...

A survey from the Financial Industry Regulatory Authority (FINRA) suggests that new crypto investors tended to be swayed by suggestions from friends, compared to equities or bond investors. Influence from friends and the fear of missing out (FOMO) were some of the reasons investors bought crypto for the first time in 2022, according to a survey by a United States financial regulator. Published by the United States Financial Industry Regulatory Authority (FINRA) Investor Education Foundation in late April, the Survey found that a large portion (31%) of new crypto currency investor s cited "friend suggestion" as the primary reason for their foray into crypto .  This is compared to only 8% for first-time equities or bond investors, potentially indicating that there is "a social element to cryptocurrency investing not evident in equities or bond investing," according to FINRA. However, the ability to “start with small amounts” was the second biggest reason for making a...