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“#How two 23-year-olds became millionaires by mining bitcoin” A pair of recent college grads made $4 million before their 24th birthdays by using flare gas from Texas oil fields to mine bitcoin. Brent Whitehead and Matt Lohstroh are Texas A&M University alums who co-founded Giga Energy Solutions, a company that uses stranded natural gas that…
Cryptocurrency-funded DAOs running charities isn’t as bad as it sounds Cryptocurrency is becoming a more familiar way to pay for things. One option is as part of a crowd, through a decentralized autonomous organization. In this relatively new kind of group, also called a DAO, decisions and choices are governed by holders of one kind of cryptocurrency token,…
“#Trading app Robinhood sinks 11% in after-hours trade after posting loss” Robinhood shares dropped some 11% in after-hours trade Thursday after it posted a net loss for the quarter despite edging past analysts’ estimates for quarterly revenue as strong crypto trading boosted transaction volumes at the online brokerage. Robinhood, in its third set of results…
“#El Salvador urged by IMF to drop bitcoin as legal tender” The International Monetary Fund is urging El Salvador to drop its controversial embrace of bitcoin as its legal tender, saying it “entails large risks” for the Central American nation’s economy. The IMF made the recommendations after it held negotiations with El Salvador — whose…
“#Elon Musk nudges McDonald’s to accept Dogecoin” If Elon Musk gets his way, McDonald’s will become the latest company to jump onto the Dogecoin bandwagon. Musk, a noted Dogecoin fan, called Tuesday for McDonald’s to accept the meme token as a legitimate form of payment for burgers and fries. The billionaire offered to provide McDonald’s…
“#NYC Mayor Adams may have lost more than $1K converting his pay to crypto” Maybe he should’ve stuck with cash. Mayor Eric Adams may have lost more than $1,000 of his first City Hall paycheck in just four days after converting it into cryptocurrency during a plunge in the market, a Post analysis shows. Adams,…
“#EU regulator wants ban on energy-intensive bitcoin mining” The European Union should ban a form of bitcoin mining that uses up an excessive amount of energy because it poses a threat to the continent’s climate goals, according to one of the bloc’s top financial regulators. Erik Thedéen, the vice chairman of the European Securities and…
“#Spain starts cracking down on crypto ads” Regulators in Spain are tightening the rules on how social media influencers and others can advertise for cryptocurrency. The government in Madrid said it would require “influencers” with more than 100,000 followers on social media to give at least a 10-day notice in advance before posting messages urging…
“#Report says North Korean hackers stole fortune in cryptocurrency in 2021” North Korean hackers managed to steal a fortune in cryptocurrency in 2021, according to the results of a recent study. Cybercriminals based in North Korea “extracted nearly $400 million worth of digital assets last year,” blockchain firm Chainalysis said in a preview of its…
“#Jack Dorsey looks to give Bitcoin developers a boost with nonprofit” Jack Dorsey says he is planning a nonprofit aimed at paying the legal bills of Bitcoin developers who were sued by an Australian computer scientist who claims to be the founder of the popular cryptocurrency. The former Twitter CEO sent an email on Wednesday…