Coin overview
J
Ended--
Last price (USDT)
491.27K
24h total (USDT)
1.05M
Total vol (USDT)
2025-01-15 15:00:00 ~ 2025-01-22 09:30:00
Trading time (UTC+0)
2025-01-22 11:00:00 ~ 2025-01-22 23:00:00
Delivery time (UTC+0)
Total supply1.00B
Resources
Introduction
Jambo is building a global on-chain mobile network, powered by the JamboPhone — a crypto-native mobile device starting at just $99. Jambo has onboarded millions on-chain, particularly in emerging markets, through earn opportunities, its dApp store, a multi-chain wallet, and more. Jambo’s hardware network, with 700,000+ mobile nodes across 120+ countries, enables the platform to launch new products that achieve instant decentralization and network effects. With this distributed hardware infrastructure, the next phase of Jambo encompasses next-generation DePIN use cases, including satellite connectivity, P2P networking, and more. At the heart of the Jambo economy is the Jambo Token ($J), a utility token that powers rewards, discounts, and payouts.
Credit/debit card success rate: Local banks in MENA region
The banking sector in MENA region has unique characteristics influenced by local economic conditions, regulatory frameworks, and customer preferences. We encourage you to carefully review this report before making any transactions via credit or debit card, including Visa, Mastercard, Google Pay, or Apple Pay. *** indicates a high success rate and is recommended for use; ** signifies that it can be tried, but has a lower success rate; * indicates an extremely low success rate and is not recommended for use. Fiat Currencies Success Rate Issue Banks in MENA SAR *** BANCO MUNICIPAL DE ROSARIO ** ALINMA BANK ** THE SAUDI NATIONAL BANK ** INMA Bank * D360 Bank * BARRAQ FINANCE COMPANY * SAUDI AWWAL BANK * AL RAJHI BANKING AND INVESTMENT CORP. * Al Bilad Bank * EMIRATES NBD BANK (P.J.S.C.) * RIYAD BANK * ARAB NATIONAL BANK * AL BILAD BANK * Arab National Bank * National Commercial Bank * UNITED COMPANY FOR FINANCIAL SERVICES * Al Rajhi Banking & Inv. Corp. * Saudi Investment Bank * THE SAUDI INVESTMENT BANK * BANK AL JAZIRA * BARQ * Al Bank Al Saudi Al Fransi * Bank Al-Jazira * BANK ALJAZIRA * Saudi British Bank * BANQUE SAUDI FRANSI * Gulf International Bank * Emirates Bank International * The Saudi National Bank * STC BANK * Riyadh Bank * Tweeq * HALA PAYMENT COMPANY * GIB-SA * VISION * TWEEQ INTERNATIONAL COMPANY AED *** DUBAI ISLAMIC BANK *** DIGITAL FINANCIAL SERVICES LLC *** ABU DHABI COMMERCIAL BANK *** MASHREQBANK *** WIO BANK P.J.S.C *** EMIRATES NBD BANK (P.J.S.C.) *** ABU DHABI ISLAMIC BANK *** NATIONAL BANK OF RAS AL-KHAIMAH (RAKBANK) *** FIRST ABU DHABI BANK PJSC *** AL HILAL BANK PJSC *** NETWORK INTERNATIONAL LLC *** EMIRATES ISLAMIC BANK P.J.S.C. *** WIO BANK PJSC *** COMMERCIAL BANK OF DUBAI *** HSBC BANK MIDDLE EAST *** COMMERCIAL BANK OF DUBAI(PSC) *** EITC FINANCIAL SERVICES L.L.C ** AAFAQ ISLAMIC FINANCE PSC ** DEEM FINANCE L.L.C. ** LARI EXCHANGE ** STANDARD CHARTERED BANK ** JANATA BANK LIMITED ** NATIONAL BANK OF FUJAIRAH ** AL ANSARI EXCHANGE LLC ** CANADIA BANK PLC ** COMMERCIAL BANK INTERNATIONAL ** PROVISIONAL - FIRST ABU DHABI BANK (PJSC) ** BANK OF BARODA ** AL HILAL BANK P.J.S.C. ** ARAB BANK FOR INVESTMENT & FOREIGN TRADE ** PROVISIONAL BID - FIRST ABU DHABI BANK (PJSC) ** FINANCE HOUSE L.L.C. ** ABU DHABI ISLAMIC BANK P.J.S.C. * CITIBANK, N.A. * ARAB BANK PLC * MAMO LIMITED * UNITED BANK LIMITED * THE NATIONAL BANK OF UMM AL-QAIWAIN PSC. * HABIB BANK AG ZURICH * MYZOI FINANCIAL INCLUSION TECHNOLOGIES L.L.C. * NYMCARD PAYMENT SERVICES L.L.C. * CITIBANK NATIONAL ASSOCIATION FAQ Q: What should I do if my bank has a low success rate? A: 1) Contact your local bank branch for more information and request to have Bitget whitelisted for future transactions; 2) Retry the transaction using a card issued by a different bank. Relevant articles >>> How to buy crypto with a credit/debit card >>> About credit/debit card channels on Bitget Join Bitget, the World's Leading Crypto Exchange and Web 3 Company Sign up on Bitget now >>> Follow us on Twitter >>> Join our Community >>>
Pam Bondi downplays the seriousness of Signal chat leaks
Attorney General Pam Bondi signaled on Thursday that a criminal investigation into the sharing of military operation details in an unsecured text group chat is unlikely. Speaking at a news conference in Virginia, Bondi said the specifics of when fighter jets would depart and when bombs would fall were “not classified.” Her comments come amid public debate over Defense Secretary Pete Hegseth’s decision to send details of an upcoming attack on rebels in Yemen to senior administration officials in a Signal group chat that mistakenly included a magazine editor. Pam Bondi in a news conference in Virginia. Source: WQAD News 8 Bondi described the information as “sensitive, not classified, and inadvertently released.” She praised the military operation as a “very successful mission” and quickly shifted focus to criticize past administrations. “If you want to talk about classified information, talk about what was in Hillary Clinton’s home,” she said. “Talk about the classified documents in Joe Biden’s garage, that Hunter Biden had access to.” Bondi pointed out that while the Justice Department opened investigations into both Mrs. Clinton and Mr. Biden, neither faced criminal charges. She made no mention of the earlier prosecution regarding Donald J. Trump’s handling of classified documents, a case that was dropped after his reelection. Former Justice Department prosecutor Michael Zweiback has handled classified info investigations. He said, “In terms of prior investigations, there were set-out standards that the department always looked at and tried to follow when making determinations about which types of disclosures they were going to pursue.” See also Blockchain apps earned $2.6B in Q1 despite crypto sector price decline The Signal chat leaks don’t fall under traditional classification of military plans She emphasized that the details in question, though sensitive, did not fall under the traditional classification of “military plans, weapons or operations” as defined by decades of practice dating back to the Reagan administration. While the F.B.I. and the Justice Department still have the authority to investigate under the Espionage Act—which allows for charges over mishandling national defense information even if it is not classified—such prosecutions are extremely rare. The incident unfolded this month when, mere hours before military strikes against Houthi targets, Defense Secretary Hegseth texted the group outlining the plan of attack, including the specific time when “the first bombs will definitely drop.” After the operation was carried out, the details of the conversation were revealed by Jeffrey Goldberg, editor in chief of The Atlantic, who had been accidentally included in the group chat. Hegseth and other senior officials said that the information he shared was not classified, arguing that it was ultimately up to his department to decide what should be considered classified. National security experts, however, criticized this stance as contrary to basic common sense and longstanding practices among military and intelligence agencies. The debate over the leaked information spilled into Capitol Hill during a congressional hearing on Wednesday. See also Europe isn't happy about insults from Trump's officials in leaked chat Tulsi Gabbard, director of national intelligence, assured the House Intelligence Committee that “no sources, methods, locations or war plans” were shared in the text. In response, Representative Joaquin Castro, Democrat from Texas, dismissed the claims, stating, “You all know that’s a lie. It’s a lie to the country.” Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Michael J. Saylor's Strategic Bet: Bitcoin's Premium Issuance and Capital Control
Original Article Title: "Michael J. Saylor's Strategic Bet: Bitcoin Premium, Issuance, and Capital Control" Original Article Author: Ac-Core, YBB Capital Researcher 1. Introduction: MicroStrategy was initially an enterprise software company focused on business intelligence solutions, but since 2020, its focus has shifted significantly to Bitcoin investment. The company raised funds to purchase Bitcoin by issuing stock and convertible bonds, making it a focal point in the US stock market. On February 6, 2025, the publicly traded company MicroStrategy, which holds the most Bitcoin globally, announced that it was officially renaming itself to Strategy (for ease of reading, it will still be referred to as MicroStrategy below). At that time, data showed that Strategy's balance sheet held 471,107 Bitcoins, accounting for about 2% of the global Bitcoin supply. By February 21, 2025, MicroStrategy had accumulated nearly 500,000 Bitcoins, valued at over $40 billion. MicroStrategy essentially turned the stock market into a Bitcoin ATM through its capital structure design—raising funds to buy Bitcoin by issuing new stock/convertible bonds, then using its Bitcoin holdings to boost stock price valuation, creating a capital loop deeply tied to the cryptocurrency asset. Leveraging the US stock market's unique high premium financing mechanism, MicroStrategy not only dominated the concept of Bitcoin stocks but also developed a set of "alchemy" involving equity issuance and price manipulation that gained market recognition in the US stock market. 2. What Is the "Magnet" of MSTR Stock Price Speculation? Image Source: abmedia.io MicroStrategy's financing approach is very clever, primarily using a combination of stocks and bonds for fundraising. In the initial stages, it relied on issuing bonds and its own cash reserves, and even had some common stock and convertible bonds. However, the downside of issuing common bonds is the interest payments, but at that time, its cash flow was good, with the software business bringing in tens of millions of dollars in positive cash flow, enough to cover these debt interest payments. As this cycle progressed, it extensively utilized a stock issuance mechanism called ATM (At-the-market), which involves selling stock directly on the secondary market. MicroStrategy played the "alchemy" of the capital market through a strategy combining stock issuance and bond issuance. With a relatively low leverage ratio, it rapidly raised funds by issuing stock to buy Bitcoin, increasing leverage, and raising its valuation premium as Bitcoin prices rose. During the bull market, its premium even reached as high as 300%. However, over time, the market gradually became aware of MicroStrategy's large-scale selling of stocks, causing the stock price to start falling, and the premium to shrink. At the same time, the leverage ratio decreased, and companies gradually turned to a debt-focused financing approach. With this change, MicroStrategy's pace of buying Bitcoin slowed down, leading to a weakening demand for Bitcoin in the market. Therefore, MicroStrategy played a game of "premium hedging." It funded the purchase of Bitcoin through selling stocks at a high premium, and when the premium fell, the company turned to debt. This pattern provided the company with enough funds to execute Bitcoin purchases, even though the market's enthusiasm for its stock diminished as it gradually became aware of these operations. Overall, MicroStrategy used different financing strategies in different periods, taking advantage of the high premium in the stock market and steadily increasing leverage through bonds. For Bitcoin, MicroStrategy's slowing pace may indicate a weakening momentum for Bitcoin's short-term price increase; however, for MicroStrategy, this diversified financing approach enables it to flexibly adapt to different market environments. The reasons behind the significant fluctuations in MicroStrategy's stock price and how they attracted a large number of speculators through Bitcoin investment. Where does the magic of the "crypto alchemy" with a market cap of tens of billions of dollars shine? In simple terms, there are several key points: 1. Non-linear Relationship between Stock Price and Bitcoin: Many people think that MicroStrategy's stock price should move in sync with Bitcoin, but this is not entirely the case. For example, in November and December last year, when Bitcoin was still rising, MicroStrategy's stock price had actually started to decline. So, its stock price fluctuation is not directly linked to the Bitcoin price. 2. Reaction to Narrowing Premium and Long-term Impact: MicroStrategy's premium has been gradually shrinking compared to before. Michael J. Saylor's emphasis is not on the value of the stock itself but on its volatility. In other words, he promotes MicroStrategy as a highly volatile speculative tool, especially attracting institutional investors who cannot directly purchase Bitcoin ETFs. 3. Bitcoin's "Proxy Investment": Many institutions cannot directly buy Bitcoin or Bitcoin ETFs due to regulatory restrictions or internal policies, especially in some countries such as South Korea and Germany. So, MicroStrategy has become an alternative option for these institutions to invest in Bitcoin. Unable to buy ETFs, they buy MicroStrategy's stock because it is highly correlated with Bitcoin. 4. Michael J. Saylor's Ingenious Marketing and MicroStrategy's "Self-Fulfilling Prophecy": Michael J. Saylor is a very skilled marketer. He not only promotes MicroStrategy's stock but also emphasizes its leverage effect. This means that if you are bullish on Bitcoin's price increase, MicroStrategy's stock price increase will be even greater. Moreover, buying MicroStrategy is safer than using leverage to buy options because you don't have to worry about issues like liquidation. 5. MicroStrategy's Uniqueness: The success of MicroStrategy largely relies on their strong financing capability, as Saylor continuously raises money for the company to purchase more Bitcoin. Moreover, Saylor himself is very good at "selling." He gives speeches everywhere, appears on YouTube to promote MicroStrategy, packaging it as a "super-leverage tool," attracting speculators globally. III. "Hold Bitcoin, Never Sell": Michael J. Saylor's Crypto Crusade Image Source: blocktempo Michael J. Saylor's recent Bitcoin promotion wave has had a profound impact on the entire Bitcoin industry. By constantly appearing in public, conducting interviews, and giving speeches, he not only brought Bitcoin into the mainstream but also attracted a large number of institutional investors into the market. It can even be said that MicroStrategy and ETFs are the two main buyers in the current Bitcoin market. Interestingly, although ETFs are very important, MicroStrategy's operation is more eye-catching because MicroStrategy only buys and does not sell, while ETFs occasionally sell. Regarding marketing, the most impressive aspect is that Saylor once said he had made a will, planning to destroy his personal Bitcoin private keys after his death, completely removing these bitcoins from circulation. His "cult leader-level" operation seemed to show that he had made an eternal contribution to the Bitcoin industry. Although no one knows if he will actually fulfill his promise in the future, his statement has injected some excitement into the market. Additionally, in reality, the Bitcoin held by MicroStrategy is not controlled by Saylor himself or the MicroStrategy company. These bitcoins are held in custody by two trusted third-party institutions, Fidelity and Coinbase Custody, in compliance with the auditing and regulatory requirements of a publicly traded company. So, those concerned about how Bitcoin will be handled after his death can rest assured. Michael J. Saylor is not only a strong advocate for Bitcoin, but in a way, he is even more extreme than some early Bitcoin investors. Long before the emergence of ETFs, he turned MicroStrategy into a Bitcoin ETF-like entity. His conversations with Musk have provided a crucial boost to Bitcoin investment. According to market rumors, Musk deciding to have Tesla purchase Bitcoin was largely influenced by Saylor's advice. Saylor is not limited to just Bitcoin. Some in the market believe that his recent remarks indicate his support for the development of the entire digital economy, proposing that the United States should become a global leader in the digital economy and drive all assets onto the blockchain through tokenization. He is no longer just a Bitcoin maximalist but sees the potential of blockchain technology in a wide range of areas. This open attitude has also earned him more recognition in the blockchain industry. As attention turns to the layout of the future digital economy in the United States, Saylor has even proposed the idea of incorporating Bitcoin into the national strategic reserve, further expanding the United States' leadership position in the global digital economy. He not only promotes Bitcoin but also presents a vision of a global on-chain economy, showing us a possible future where the global economy may move towards a more decentralized financial structure, possibly even seeing the emergence of a cyber financial system beyond sovereign nations. However, in this future landscape, capital flow and regulations will also face new challenges. Especially if the United States leads this on-chain economy, other countries or organizations around the world, such as China, the EU, or South Korea, will face greater pressure from capital outflows. Even though regulatory authorities in various countries have tried to control capital flows through traditional means, these measures will be ineffective in the face of a decentralized on-chain economy. On March 25, the Trump family's crypto project, World Liberty Financial Inc. (WLFI), officially announced plans to launch the USD1 stablecoin. The stablecoin business is highly profitable, and USD1 will be 100% backed by short-term US government bonds, US dollar deposits, and other cash equivalents, seemingly indicating that in the future, the US may rely more on stablecoin issuance to alleviate the US debt crisis. IV. Möbius Loop Cycle, Michael J. Saylor's Asset Game Image Source: thepaper Today, the price of Bitcoin has dropped from its highs to around $87,000, while MicroStrategy's cost basis for holding is approximately $66,000. This begs the question: What would happen to the market if Bitcoin's price falls below MicroStrategy's cost basis for purchasing Bitcoin? During the last bear market, MicroStrategy's situation was even worse than it is now. At that time, their net assets had already gone negative, which is extremely rare for any company. While some companies may have negative net assets in special circumstances (such as due to issuing a large amount of stock options), generally, a company having negative net assets easily triggers market panic. However, MicroStrategy did not liquidate at that time nor was it forced to sell Bitcoin mainly because their debt maturity was far off, and no one could compel them to liquidate immediately. The interesting part here is that MicroStrategy's founder Michael J. Saylor holds nearly 48% of the voting power, making any attempt to initiate liquidation very challenging. So even in a situation where the company's financial situation is tight, creditors and shareholders would not be able to easily propose a liquidation. So, if Bitcoin were to indeed drop below the holding's average cost, would MicroStrategy's stock fall into the so-called 'death spiral'? This question was actually raised during the last bear market. Back then, MicroStrategy had negative net assets, and market panic was severe. However, the current market should be more experienced, and investors have been through these fluctuations, so they would not panic as much as they did back then. Furthermore, Michael J. Saylor and his team actually have some flexible means to deal with market fluctuations. For instance, they can choose to issue bonds, issue more shares, or even use their held Bitcoin as collateral to borrow money. MicroStrategy currently holds about $40 billion in Bitcoin, which means they can use these Bitcoins as collateral to obtain funds. Even if the price drops, they can avoid forced selling by supplementing collateral. Moreover, their main debt is not due until 2028, so no one can force them to make unfavorable decisions until then. For now, even if Bitcoin's price experiences fluctuations, MicroStrategy would not immediately face significant financial pressure or be forced to sell Bitcoin. More importantly, an increasing number of sovereign wealth funds and institutions globally have started to view Bitcoin as a reserve asset, which is also a major trend. Against this backdrop, the long-term outlook for Bitcoin remains positive. As rumored in the market, countries like Abu Dhabi have already started buying large amounts of Bitcoin ETFs, indicating that more countries and institutions are likely to enter the Bitcoin market in the future. Although in the short term, the price of Bitcoin may experience some volatility, the long-term outlook of MicroStrategy's strategy seems to align with the market trend. While their financial situation may face challenges in the coming months or even years. Looking at the overall picture, although Bitcoin price fluctuations may indeed bring some short-term pressure to MicroStrategy, considering their debt maturity and market trend, they currently do not face the risk of liquidation or forced Bitcoin selling. Instead, they may leverage the current market environment to continue increasing their Bitcoin holdings, further solidifying their position in the cryptocurrency space. Behind this series of events, there are several questions worth further exploration: Can the volatility of the Bitcoin market maintain its current level? MicroStrategy is essentially leveraging Bitcoin's high volatility to provide itself with a high-leverage investment tool. However, if Bitcoin is gradually accepted by institutional investors and its volatility decreases, can the company still maintain its current high-return strategy? With the introduction of Bitcoin ETFs, the long-term Bitcoin price cycles have been disrupted, and the Bitcoin spot price has become more stable due to diversified financial derivatives such as ETFs. Gold's price trend post-ETF has provided us with a reference answer, indicating that the past high volatility of Bitcoin will no longer exist, shifting from radical to moderate overall change. How Long Can MicroStrategy's Financing Method Last? Currently, this coin-buying financing model is based on the assumption that the market is bullish on Bitcoin in the long run. However, if Bitcoin's price enters a long-term period of volatility or decline in the future, can MicroStrategy's financial situation withstand it? If the company continues to raise funds through debt issuance and stock offerings to buy Bitcoin, the market's premium on its stock will further diminish, and MicroStrategy's financing method is highly reliant on the market's optimistic sentiment. Once Bitcoin's price enters a long-term period of volatility or decline, from a financial pressure perspective, existing debts need interest payments, and the company must deal with the dilution of shareholder equity due to stock issuances. Specific policy environments may also affect MicroStrategy's financing model; certain policies during the Trump administration period may have provided a more lenient financing environment for companies, facilitating strategic reserves' establishment. However, if these favorable factors gradually diminish, MicroStrategy's financing conditions may not be as good as before. Is Michael J. Saylor an Idealist or an Arbitrageur for Bitcoin? Saylor's role is actually a combination of an idealist and an arbitrageur, deeply understanding and recognizing Bitcoin's long-term potential, and being very adept at using market mechanisms to profit for the company and himself. Leveraging Bitcoin's high volatility, he marketed MicroStrategy's stock as a "leveraged Bitcoin investment tool." This approach attracted institutional investors who could not directly invest in Bitcoin or Bitcoin ETFs. These institutions indirectly gained Bitcoin exposure by purchasing MicroStrategy stock. Rather than saying Michael J. Saylor is a staunch believer in Bitcoin, it is more accurate to say that Michael J. Saylor is an arbitrageur of Bitcoin's market volatility opportunities. MicroStrategy's series of operations fundamentally aim to profit from the stock market's "volatile market" using Bitcoin, and in the end, MicroStrategy itself may rely more on market sentiment and Bitcoin's price performance rather than Bitcoin's long-term intrinsic value. 5. Wealth Engine or Crypto Frost? Image Source: X@MicroStrategy MicroStrategy's capital operation model is timely, but can MSTR's stock participate? In my personal opinion, for those in the crypto industry, the odds with MSTR are greater than direct participation in Bitcoin. MSTR as a whole resembles more of an accelerator version of Bitcoin. MicroStrategy appears to be a software company focused on business data analytics on the surface, but in reality, its operation model has completely shifted to Bitcoin asset accumulation. MSTR comes with leverage. Because the company holds a large amount of BTC and may increase its holdings through borrowing or issuing bonds, this amplifies its stock price's sensitivity to Bitcoin price movements. When BTC rises, MSTR may experience a greater increase, and vice versa. Its stock has soared from $68 at the beginning of the year to around $400 now, a surge that has even exceeded many well-known companies like NVIDIA, Palantir, and Coinbase. What is the underlying reason behind MicroStrategy's stock performing so astonishingly? Some believe it is founder Michael J. Saylor's operation model of "infinite money cheat code" that successfully boosted the stock price; others criticize this as resembling a Ponzi scheme and worry that it may trigger the next cryptocurrency market collapse. MicroStrategy's current Bitcoin investment returns far exceed its traditional business income. Although its software business revenue has hardly grown in the past few years, and has even declined, MicroStrategy has raised funds to purchase more Bitcoin by continuously issuing bonds and diluting equity, achieving an overall profit increase for the company. MicroStrategy deeply links its stock to Bitcoin, which has its benefits but also brings certain risks to the company, as its core business cannot generate significant profits, and all prospects are pinned on the rise in Bitcoin's price. In fact, no one knows whether the future price trend of Bitcoin will smoothly rise through more financial derivatives + ETFs + strategic reserves, or face a wave of "great reckoning." The company further boosted its financing ability by issuing interest-free Convertible Notes. These notes allow investors to convert them into company equity in the future, but the conversion price is much higher than the current stock price. At first glance, this may seem disadvantageous to investors, but in reality, note holders have priority liquidation rights, which can reduce risk. MicroStrategy can continue to accumulate Bitcoin through this financing method, driving a dual increase in its stock price and Bitcoin price. The clever aspect of this strategy is that it successfully shifted the risk from the company itself to the stock market. By issuing convertible bonds for financing, then using that money to buy Bitcoin, when the debt matures, if the company's stock price is high enough, the creditors will choose to convert the debt into stock rather than demand repayment, thus entirely transferring the debt issue to the stock market. Therefore, the long and short odds in the stock market as a whole are greater than in the crypto market. This article is contributed and does not represent the views of BlockBeats.
GameStop Proposes to Raise $1.3B in Convertible Debt for Bitcoin Purchases
Last updated: March 27, 2025 03:21 EDT GameStop has announced plans to offer $1.3 billion in convertible notes with a 0% coupon, in a move to purchase Bitcoin using net proceeds. The announcement arrives simultaneously with the video game retailer’s approval of adding Bitcoin to its treasury reserves . GameStop said that the $1.3 billion of convertible senior notes will have a five-year maturity until April 1, 2030. Further, it would grant initial purchasers up to an additional $200 million aggregate principal of notes, the official release noted. GameStop added that it would use the net proceeds from the offering “for general corporate purposes.” This includes Bitcoin purchases, consistent with GameStop’s Investment Policy. 💥 BREAKING: GameStop to raise $1.3 Billion to buy Bitcoin $GME pic.twitter.com/ECYWkVD3fI — Bitcoin Archive (@BTC_Archive) March 26, 2025 GameStop Mirrors Strategy in Building Bitcoin Stack Michael Saylor’s Strategy ( previously MicroStrategy ), has taken on millions in debt to accumulate more Bitcoin. For instance, the company has used a unique strategy to raise an additional $175 million to add more Bitcoin to its balance sheet. Strategy already has $700 million convertible debt offering, maturing in 2028. Further, high demand for this convertible note has brought in other major crypto players, including Bitcoin miner MARA Holdings, to raise billions to add to their own stacks. Reflection on Stock Prices GameStop’s Bitcoin strategy has rallied its shares 15.2% to $29.19 on Wednesday. According to J.P.Morgan data, the company was the seventh most traded stock by U.S. retail investors on Wednesday at 10 a.m. ET. Michael Pachter, managing director at Wedbush told Reuters that GameStop “clearly understands” its shareholder base. “[Investors]want GameStop to take their money and invest in things like Bitcoin, and the company is accommodating their wishes.” Pachter also added that GameStop’s strategy has changed about six times in three years and its Bitcoin stockpile plan reflects that of MicroStrategy. Meanwhile, Bitcoin traded around $87,200 late Wednesday and is up 1.6% over the past week. It is currently trading at $87,350 at press time.
Senate votes to repeal IRS DeFi broker rule
The U.S. House of Representatives passed a resolution on March 11 to overturn a Biden-era IRS rule requiring decentralised finance (DeFi) platforms to report user transactions. The measure now heads to the Senate for final approval before potential presidential signing. The legislation, H.J.Res.25, targets the IRS’s “DeFi Broker Rule,” which critics argue would impose unworkable reporting requirements on decentralised exchanges. Under the rule, DeFi platforms would be required to file Form 1099-DA and collect taxpayer data, a task proponents claim is technically infeasible for decentralised systems. House Ways and Means Chairman Jason Smith (R-MO) called the rule a “politically motivated mandate” that “cripples American digital asset leadership.” “DeFi exchanges differ fundamentally from centralised crypto exchanges or traditional banks and brokers. DeFi platforms lack the capability to gather the necessary user information to comply with this rule,” he emphasised, noting that DeFi platforms lack centralised infrastructure for compliance. The resolution passed with bipartisan support: 76 Democrats joined all 216 Republicans in voting yes, while one Democrat abstained. Earlier Senate approval on March 4 (70–27) and procedural requirements necessitated a second Senate vote, which occurred on March 26. Opponents, including Rep. Lloyd Doggett (D-TX), argued the repeal creates a “loophole exploited by wealthy tax cheats, drug traffickers, and terrorist financiers.” However, supporters countered that the rule’s compliance costs—estimated at 8 billion new paperwork filings—would stifle innovation. The Senate’s final approval clears the path for President Trump’s signature, which advisors suggest could occur by March 28. If enacted, the Congressional Review Act resolution would block the IRS from reinstating similar regulations. Blockchain Association CEO Kristin Smith welcomed the Senate vote, stating the group looks forward to “taking this harmful rule off the books for good.” Critics like Centrifuge’s Eli Cohen previously called the rule “unworkable in practice,” while former IRS Commissioner Charles Rettig warned it would “overwhelm the agency.”
ElphaPex releases a new generation of high-efficiency air-cooled mining machine ElphaPex DG2
On March 27th, ElphaPex officially released the new generation LTC/DOGE miner ElphaPex DG2 at the Mining Disrupt exhibition held in Miami on March 26, 2025. As the latest work of the DG series, DG2 continues ElphaPex's continuous pursuit of technological limits. The most noteworthy thing is that DG2 became the first LTC/DOGE miner with an energy efficiency ratio exceeding 0.2 J/MH, achieving a new efficiency ratio record of 0.19 J/MH, marking the official entry of LTC/DOGE mining into the 0.1x era, bringing unprecedented energy efficiency and long-term profit potential to global miners. ElphaPex will soon announce the detailed technical parameters and listing information of DG2, and set up a dynamic display area on site for exhibitors to visit and learn about.
Auradine debuts first US-engineered hydro-cooled miner to help clients navigate customs and tariff issues amid Trump's push to 'make bitcoin' in Amer
Silicon Valley-based blockchain and AI infrastructure provider Auradine has unveiled the first U.S.-engineered hydro-cooled Bitcoin miner, meant to address three of the most pressing challenges facing Bitcoin mining: escalating computational demands, rising energy costs and dependence on overseas hardware suppliers. The MARA-backed blockchain and AI infrastructure solutions firm claims its Teraflux AH3880 can deliver a hash rate of 600 TH/s with efficiency as low as 14.5 J/TH. That far exceeds the 100 TH/s hash rate and 29.5 J/TH efficiency of the Antminer S19j Pro — one of the most popular machines on the market — according to Hashrate Index . Auradine's new product also exceeds the 473 TH/s hash rate of Antiminer's S21 XP Hydro product — though that comes in at a more efficient 12 J/TH — and Whatsminer's M66S Immersion machine at 298 TH/s and 18.5 J/TH. The Teraflux machines are particularly beneficial for miners who want to operate bitcoin and AI liquid-cooled data centers in the same facility, according to the firm. A direct-mounted water cooling plate transfers heat from the ASIC chips to circulating liquid, which is cooled and recirculated. This design extends hardware lifespan and minimizes power consumption while maximizing computational output, Auradine explained in a statement shared with The Block. "Introducing hydro-cooling technology into our Teraflux platform underscores our relentless drive to bring the best in class to Bitcoin miners worldwide," Auradine CEO Rajiv Khemani said. "Our hydro-cooled technology delivers superior energy efficiency, sustainability and performance, ensuring miners stay ahead in an evolving industry." The hydro-cooled machines are available for order from Tuesday, with Auradine hoping to build on its claimed $150 million annual revenue run rate. The firm raised $80 million in a Series B funding round ahead of last year's Bitcoin halving event. Global trade and disruptions Beyond its performance advantages, the Teraflux AH3880 is pitched as a solution to help U.S. domestic miners avoid rising costs, supply chain delays and uncertainty around long-term hardware availability as increasing energy bills and operational inefficiencies make scaling Bitcoin mining more difficult, Auradine said. Most Bitcoin mining hardware is still designed outside of the U.S. The industry has long been dominated by Antminer, a product line of China-based Bitmain Technologies with over 80% market share. In February, mining sector news publication Blockspace reported that U.S. Customs and Border Protection were ramping up seizures of Bitcoin mining machines at ports of entry, citing documents including a notice of seizure of $5 million worth of goods from the Federal Communications Commission requesting the CBP to requisition MicroBT and Canaan units. The U.S. Customs and Border Patrol began seizing Bitmain products last year because they contain chips from the now trade-restricted company, Sophgo. However, the exact motivation for expanding the order to include MicroBT and Canaan products, especially given that Canaan is a listed stock in the U.S. and MicroBT has a manufacturing pipeline in the country, was unclear. "Looks like the escalation is partially part of the Trump administration’s movement to onshore a lot of these sensitive industries around silicon," Blockspace's Will Foxley said, indicating the seizures could prevent North American mining companies from expanding their fleet and limit Bitcoin hashrate growth. Earlier this month, Luxor Technology COO Ethan Vera told The Block it had also been impacted by the seizures and its shipments had not yet been released, though they had for some of its partners. "We think a small minority of held/seized shipments have been released so far, but it is moving in the right direction," Vera said. "We did not get a clear explanation on the reason for seizure. They did cite the devices as radio frequency equipment, however we think that is not the case. We do expect more broadly a push for U.S.-produced hardware and firmware." Trump's push to 'make bitcoin' in the US Donald Trump pledged to "make bitcoin" in America during the presidential election campaign, promising to turn the U.S. into a "Bitcoin mining superpower" and provide increased electricity generation capacity for the industry, aspirations he has continued to reiterate as president. Last week, the U.S. Securities and Exchange Commission's division of corporation finance, which has been tasked by Trump to produce meaningful crypto regulations and guidance, also clarified proof-of-work mining does not involve the offer and sale of securities. Despite the recent supply chain disruption, not helped by Trump's tariff increase on Chinese imports, analysts at research and brokerage firm Bernstein see this as a $20 billion tailwind for U.S. Bitcoin miners, with the "potential to improve fleet efficiency, drive lower capex (from lower chip pricing) and spare power capacity for AI/HPC opportunities." "New U.S based competition in mining chips promises to diversify the mining supply chain and reduce the dominance of Bitmain and others," the analysts said last year. "Also, there is opportunity for more innovation with open source and customizable software, by partnering closely with U.S. based miners to improve fleet efficiency (e.g the Core Scientific-Block deal)." Block, the digital payments firm co-founded by Jack Dorsey, is another U.S. firm developing Bitcoin mining chips and working on its own full mining system. Meanwhile, JPMorgan analysts expect publicly traded Bitcoin miners will continue increasing their share of the Bitcoin network hash rate this year.
Trump-Linked SPAC Seeks $179M for Crypto & Defense
Trump Media executives form a $179M SPAC to acquire crypto and blockchain firms. Renatus Tactical’s leadership includes key figures from Trump Media’s past merger deal. The SPAC faces regulatory challenges and risks due to its ties to Donald Trump. Senior executives from Trump Media & Technology Group have launched a new special purpose acquisition company (SPAC) with ambitions to acquire businesses in the cryptocurrency, blockchain, and defense sectors. A registration statement filed with the Securities and Exchange Commission indicates that Renatus Tactical Acquisition Corp I aims to raise approximately $179 million through an initial public offering (IPO) and a private placement. According to sources, the newly formed blank-check company, located in the Cayman Islands, boasts leadership with ties to President Donald Trump’s media company. Eric Swider, who serves as Renatus Tactical’s CEO, is a current Trump Media board member and previously led the company that merged with Trump Media. Devin Nunes, the former congressman who left his position to become CEO, president, and chair of Trump Media, also holds the chairman position at Renatus Tactical. Alexander Cano, the SPAC’s Chief Operating Officer, previously served as president and secretary of the firm that merged with Trump Media. The timing of this venture is notable as the Trump administration actively shapes cryptocurrency policy. The SPAC is explicitly targeting sectors where government agencies serve as either regulators or major clients. In its SEC filing, Renatus Tactical highlighted the administration’s focus on digital assets, stating: “The current administration has taken unprecedented steps to integrate digital assets into the national financial strategy.” The SPAC aims to sell 17.5 million public shares at $10 each and nearly 4 million warrants at $1 apiece in a private placement, totaling just under $179 million. While the registration identifies cryptocurrency, blockchain, data security, and dual-use technologies as primary targets, the company maintains flexibility to pursue acquisitions in any industry. Related: Trump Becomes First President To Speak At Digital Assets Summit The regulatory sector for the new SPAC’s potential acquisitions may be influenced by Trump appointees now leading key agencies. This includes the SEC, Department of Justice, and Federal Trade Commission which are responsible for overseeing merger reviews and regulatory compliance in these sectors. However, the connection to Trump isn’t without potential drawbacks. In its risk disclosures, Renatus Tactical acknowledges that “third parties may not want to engage with us to provide services due to the affiliation of our management team and our board of directors with TMTG and President Donald J. Trump.” The post Trump-Linked SPAC Seeks $179M for Crypto & Defense appeared first on Cryptotale.
Bitnomial set to launch CFTC-approved XRP futures on March 20, withdraws SEC lawsuit
Bitnomial will launch its CFTC-approved XRP futures contracts on March 20 and drop its lawsuit against the US Securities and Exchange Commission. The firm said its decision to withdraw its lawsuit was driven by the regulator’s move to abandon legal action against Ripple. According to the March 19 announcement, the contracts will be physically settled, providing a new regulated trading instrument for institutional and retail investors’ exposure to XRP. Regulatory improvement Bitnomial clients will gain access to XRP futures immediately at launch. In contrast, prospective clients can onboard through Futures Commission Merchant (FCM) partners, including R.J. O’Brien and Associates, Marex Capital Markets, and Bitnomial Clearing. The introduction of these contracts follows the broader trend of increased regulatory clarity in the crypto sector, particularly as legal developments reshape the landscape for digital assets. One such development was Ripple’s decisive victory against the SEC. The regulator formally dropped its appeal in the long-standing legal battle over XRP’s classification. Ripple CEO Brad Garlinghouse confirmed the resolution on March 19, calling it a significant moment for the industry. Initiated in December 2020, the case accused Ripple of conducting unregistered securities sales worth $1.3 billion. A key ruling in August 2024 determined that XRP is not a security when traded on public exchanges, although penalties were upheld for institutional sales. The ruling ordered Ripple to pay $125 million in penalties, significantly lower than the SEC’s original demand of nearly $2 billion. The regulator and Ripple appealed the decision, with the SEC ultimately deciding to let go of its appeal. However, Ripple’s appeal to avoid the fine and clear XRP’s status as security on institutional sales is still up. Bitnomial ends lawsuit against SEC In tandem with the launch of its XRP futures, Bitnomial announced it has voluntarily dropped its lawsuit against the SEC. The firm had sued the regulator in October 2024 over jurisdictional disputes concerning futures contracts based on XRP’s price. Bitnomial initially filed for its XRP futures product in August 2024 after the federal ruling that XRP is not a security, challenging the SEC’s stance on overseeing XRP derivatives. The firm’s decision to dismiss its case is based on the shifting regulatory environment and improving clarity regarding digital asset classification. The post Bitnomial set to launch CFTC-approved XRP futures on March 20, withdraws SEC lawsuit appeared first on CryptoSlate.
MYTH Staking Goes Live on Mythos Chain with Big Rewards
Staking is now live on Mythos Chain, giving MYTH token holders a chance to earn rewards just by locking up their tokens. The Mythos Foundation launched the program on March 10, and it’s already getting a lot of attention. More than 30 million MYTH tokens have been staked in just the first two days. The rewards are big with up to 300% APY, making it an exciting opportunity for MYTH holders. A total of 50 million MYTH tokens will be handed out as rewards over the next year. MYTH Set for Staking Rewards | Source: Myth The Mythos Foundation, along with Mythical Games, is running the staking program. It’s all part of a bigger plan to make Mythos Chain the go-to blockchain for Web3 gaming. Staking helps the network stay strong while giving users a way to earn more MYTH. “We’re excited to support the launch of MYTH staking by the Mythos Foundation and frankly, have been impressed by the level of engagement in the first 48 hours,” said Mythical Games CFO Kasper Jørgensen. One big thing about MYTH staking is that it doesn’t add new tokens into circulation. The rewards come straight from the Mythos Foundation treasury, so it doesn’t inflate the supply. Even better, Mythos Chain burns all gas fees, which means MYTH is now a deflationary token. The more people use the network, the fewer MYTH tokens there will be, making them more valuable over time. Anyone interested in staking MYTH can stake it via Subwallet or Nova Wallet. Rewards start accruing immediately after tokens are staked and can be withdrawn daily. In case a user decides to unstake, they will have to wait for three days to withdraw the tokens. The rewards, however, depend on the number of people staking and the collator they choose to delegate to, but early estimates put the average return at around 30%. Follow The Crypto Times on Google News to Stay Updated!
Miami Beach hosts Future Proof Citywide, focuses on AI, crypto, and market swings
Miami Beach is packed, but this time, it’s not just tourists. 2,500 financial advisors, hedge funds, and crypto investors have taken over South Beach for Future Proof Citywide. The event, held for the first time in Miami, is bringing together the old guard of Wall Street, the fast-growing world of Registered Investment Advisors (RIAs), and the ultra-high-net-worth crypto crowd. Matt Middleton, CEO of Future Proof, reportedly explained to CNBC on Monday why this year’s event is bigger: “This isn’t just RIAs anymore. It’s the entire wealth and asset management ecosystem.” The conference, originally based in California, has moved to Miami to expand beyond RIAs and bring in family offices, hedge funds, and alternative investors. Wealth managers, advisors, and crypto firms build connections Networking is at the center of Future Proof. The conference is set up right on South Beach, making it easy for investment firms, advisors, and high-net-worth investors to meet and strike deals. Jeff Corey and Lincoln Hurney from Claro Advisors in Boston were among the attendees. Corey laid out why they came: “We’re here to talk to other advisors, learn how to grow, and figure out how to use AI responsibly. And, of course, reconnect with people we’ve met at past Future Proof events.” See also Bogus crypto platform Debiex ordered to pay $2.5 million in a pig butchering lawsuit For many, the event is a chance to meet decision-makers face-to-face, according to CNBC. Alex Barned from Absolute Capital Management, who runs a turnkey asset management program (TAMP), said, “The biggest RIAs are here. Last year, we built two dozen new relationships. It helps with our clients and potential clients.” Doug Gill from Castleview Partners in Dallas, who also runs a TAMP for asset managers, reportedly said that he had a clear goal: “If I meet just one boutique asset manager who needs our platform and one RIA managing $100 million, this trip is worth it.” Bitcoin, AI, and market swings dominate discussions Future Proof isn’t just about networking. The panels and interviews are filled with discussions about crypto, AI, and market volatility. Bitcoin is a major focus. Michael Saylor, head of Strategy, is speaking at the event—his firm owns 500,000 Bitcoin, and he’s expected to share his outlook on the future of crypto. Market volatility is another big concern. Tom Lee, co-founder of Fundstrat, is set to discuss where the markets are heading next. Meanwhile, CNBC’s Dom Chu is hosting a panel with Brian Belski from BMO Capital, Emily Roland from John Hancock, and Gabriela Santos from J.P. Morgan to break down the macroeconomic outlook. AI is another major topic. Dan Ives from Wedbush Securities is speaking about how AI is reshaping asset management. Advisors are increasingly using AI to analyze portfolios, automate trading, and improve risk management. See also Three Arrows Capital gets U.S. bankruptcy court authorization to increase $1.5B claim against FTX Speed networking fuels deal-making Beyond the panels, Future Proof has a “speed dating” networking system. The platform matches investment professionals with sell-side providers for 15-minute one-on-one meetings. At last year’s event, 32,000 meetings were arranged. This system is what makes Future Proof stand out—deals happen on the spot, and asset managers leave with new connections and potential partnerships. Some of the quirky events from past conferences—like the “Fish Taco Frenzy” cooking class—didn’t make it to Miami. But Matt Middleton emphasized that the main focus remains: “We want people to reconnect with old contacts but, more importantly, expand their networks.” Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Robinhood teams up with Kalshi to launch prediction markets hub focusing on politics, economics and sports
The crypto-friendly financial trading platform Robinhood has launched a prediction markets hub within its app via Robinhood Derivatives, the firm's futures-focused subsidiary. Robinhood's new prediction markets will first center on politics, economics and sports, with the firm planning to widen prediction coverage in the future, Robinhood CEO and Co-Founder Vladimir Tenev wrote on the social media platform X. The firm behind the U.S.-based prediction market Kalshi will facilitate Robinhood's new prediction markets hub and its associated contracts, Robinhood wrote in a Monday release. "At the most fundamental level, [prediction markets] are the application of capitalism to the pursuit of truth," Tenev said on X. "Market incentives and the wisdom of the crowds sift through all the information out there to determine answers to well-specified questions and outcomes to important events — sometimes even before they happen." This isn't the first time Robinhood Derivatives offered futures contracts, especially on politics. The platform allowed users to wager on the outcome of the 2024 United States Presidential Election, competing against the decentralized prediction platform Polymarket and U.S.-based prediction market Kalshi . The 2024 US Presidential Election drew record levels of trader interest. On Polymarket alone, the trading volume betting on whether Donald J. Trump or Kamala Harris would win the presidency crossed $3 billion on Nov. 4, 2024. The Block reached out to Robinhood for comment on its new prediction markets hub. Who will offer Robinhood's contracts? Kalshi, which is powering the project, "is federally regulated as a Designated Contract Market by the Commodity Futures Trading Commission (CFTC)," the company noted on its website. "The prediction markets hub–and corresponding contracts–will initially be available across the US through KalshiEX LLC, a CFTC regulated exchange," Robinhood said in its Monday statement. "We have been in close contact with the CFTC over the past several weeks and look forward to continuing to work with them to promote innovation in the futures, derivatives and crypto markets." However, Kalshi and the CFTC have litigated in court whether Kalshi can offer contracts betting on U.S. election outcomes. Especially ahead of the 2024 presidential election, the CFTC argued that such offerings can undermine election integrity. However, a federal appeals court judge permitted Kalshi to list election contracts in early October 2024, stating that CFTC did not show how such contracts would cause "irreparable injury" to the public, The Block previously reported. More recently, the CFTC probed Kalshi as well as the crypto exchange Crypto.com over the regulatory compliance of their Super Bowl derivatives prediction market in early February 2025.
Crypto Podcaster Busted in Vegas After $2M Scam—A Fugitive’s Last Gamble
The U.S. Department of Justice (DOJ) announced on March 14 that Brooklyn podcaster and cryptocurrency personality Thomas John Sfraga, also known as “T.J. Stone,” has been sentenced to 45 months in prison for wire fraud. U.S. District Judge Frederic Block handed down the sentence in federal court in Brooklyn, also ordering Sfraga to forfeit $1,337,700, with restitution to be determined later. Sfraga, who pleaded guilty in May 2024, defrauded real estate and cryptocurrency investors of more than $2 million through fraudulent schemes, including a business named after a fictional company from the television show Seinfeld. According to court filings, between 2016 and 2022, Sfraga posed as a successful entrepreneur and the owner of businesses such as Build Strong Homes LLC and Vandelay Contracting Corp., a name referencing “Vandelay Industries” from Seinfeld. Prosecutors stated: Sfraga held himself out as ‘T.J. Stone,’ a serial entrepreneur with experience in real estate development, media relations, podcasting, and cryptocurrencies, which included acting as the emcee of many cryptocurrency events in New York. Authorities revealed that he deceived at least 17 victims in Brooklyn, Staten Island, and Long Island into investing in fraudulent ventures, including fake real estate deals and a non-existent digital asset scheme. One victim was convinced to loan Sfraga $100,000 for a construction project that never existed. Another was tricked into placing money in a bogus crypto investment, as prosecutors explained: “On yet another occasion, Sfraga convinced a victim to invest in a fictitious cryptocurrency ‘virtual wallet.’” Instead of investing the money, he spent it on personal expenses and to pay off earlier victims. When law enforcement closed in, he fled to Arizona under a false identity but was later arrested in Las Vegas after skipping out on a bill at the Wynn Casino. Emphasizing that the fraud caused severe financial and emotional harm to those who trusted him, U.S. Attorney John J. Durham condemned Sfraga’s actions: Sfraga callously stole from friends, next-door neighbors, and the parents of children who played on teams with his own children, as well as from individual cryptocurrency investors. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
Mastercard Drives Digital Payment Growth in MENA Region
Mastercard formed three strategic partnerships with FinTech companies LikeCard, CredibleX, and Al Etihad Payments. This initiative aims to advance digital payments in the Middle East and North Africa (MENA) region. Muhammad Nana on X Mastercard, a global payment network and multinational financial corporation, announced three strategic partnerships in the MENA region within a few days. As part of the first partnership, Mastercard launched a family banking solution in collaboration with payment infrastructure provider LikeCard, a subsidiary of the Central Bank of the UAE (CBUAE). The companies plan to create a banking solution that enables parents in Egypt, Saudi Arabia, and the UAE to manage their children’s spending through prepaid cards. The new system will feature a mobile app allowing parents to set limits and track expenses while helping children develop financial literacy. According to Muhammad Nana, Senior VP for Digital Partnerships and Enablers at Mastercard in the EEMEA region, this collaboration is focused on fostering responsible financial behavior among young people by offering flexible budgeting tools. Ammar Alsoos, CEO of LikeCard, added that the solution will provide convenient and transparent payments, helping families manage their finances more effectively. Mastercard’s second partnership is with lending platform CredibleX. Through this collaboration, Mastercard’s expertise will be used to launch a credit analytics solution tailored for small and medium-sized enterprises (SME) in the UAE. The initiative aims to streamline loan access for entrepreneurs and enhance their financial resilience. Selin Bahadirli, EVP of Services at Mastercard in the EEMEA region, emphasized that the new solution will simplify SME financing by offering transparent and flexible credit conditions. Hassan Reda, Co-Founder and Chief Product Officer of CredibleX, noted that the partnership will accelerate SME loan approvals, improving access to capital and supporting business growth in a competitive market. Another strategic partnership is formed with Al Etihad Payments (AEP), a subsidiary of CBUAE that manages the national UAESWITCH service, connecting ATM networks across UAE banks, and the state-backed card scheme Jaywan. Under this collaboration, Jaywan-Mastercard debit and prepaid cards will be issued. J.K. Khalil, Division President for Mastercard in East Arabia, stated that the initiative aims to modernize the UAE’s payment infrastructure and expand access to digital financial services. H.E Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Chair of Al Etihad Payments, added that the partnership is designed to accelerate payment digitalization in the region and enhance financial inclusion. The MENA region is a priority for Mastercard’s financial digitalization strategy. Previously, the payment giant joined the Buna regional cross-border payment system, established by the Arab Monetary Fund (AMF), and began working on optimizing B2B payments in the UAE and Saudi Arabia.
Bitdeer achieves 9.7 J/TH efficiency with Sealminer A3 chip
Bitdeer Technologies Group has announced a breakthrough in energy efficiency for Bitcoin (CRYPTO:BTC) mining with its SEAL03 chip, achieving 9.7 joules per terahash (J/TH) during prototype testing. The chip, designed for the upcoming Sealminer A3 mining rigs, was tested under low-voltage, ultra power-saving conditions. Mass production of the Sealminer A3 is scheduled to begin in late 2025, as Bitdeer aims to compete in the high-efficiency mining hardware market. The company is also advancing its Sealminer A4 development, targeting an unprecedented efficiency of 5 J/TH. Initial tape-out for the A4 chip is expected by Q3 2025. These advancements come as Bitdeer continues to expand its infrastructure globally to support next-generation mining technologies. Bitdeer’s infrastructure projects include the phased energisation of a 100 MW hydro-cooling facility in Rockdale, Texas, which began operations in March 2025. Over 500 Sealminer AI units are already operational at this site, with additional units expected to be delivered throughout the month. In Norway, the company’s 40 MW Tydal Phase 1 project is nearing final regulatory approval, while construction of the 500 MW Jigmeling site in Bhutan remains on track for substation completion by the end of March. Bitdeer management highlighted its focus on leveraging its global power portfolio of 2.6 GW to scale high-performance computing and artificial intelligence ventures. Ongoing discussions with U.S.-based partners aim to establish large-scale projects that align with its chip roadmap and infrastructure plans. The firm plans to present updates on these developments at several investor conferences through May 2025, including the ROTH Growth Conference and Bitcoin 2025. “Efficient mining technology is key to sustaining profitability as margins tighten,” stated Bitdeer’s CEO Jihan Wu, emphasising the importance of these innovations in addressing industry challenges.
Crypto influencer sentenced to 45 months for swindling $2m from investors
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% in a time span of three months. In reality, there was no virtual wallet project. Instead, Sfraga used the money to pay expenses and to pay earlier victims as well as business associates, conducting a Ponzi scheme. To fool his victims, Sfraga claimed to own several businesses, including Build Strong Homes LLC and Vandelay Contracting Corp. Vandelay Contracting was named after the fictional “Vandelay Industries” from the hit TV show Seinfeld, where the character George Costanza falsely claimed to have interviewed for a job. Sfraga also promoted himself as an entrepreneur, podcaster, and crypto advocate. He frequently worked as an emcee for cryptocurrency events in New York, using his status to gain the trust of crypto traders. According to the release, Sfraga defrauded around 17 victims from Brooklyn, Staten Island, and Long Island. He convinced them to loan him money or invest in fake instruments tied to real estate and crypto. One victim was scammed into lending him $100,000 in cash to cover start-up costs for a fake construction project. U.S. Attorney for the Eastern District of New York, John J. Durham, said Sfraga caused severe financial and emotional harm to his victims, who trusted him to deliver on his promised investment returns. “Sfraga callously stole from friends, next-door neighbors, and the parents of children who played on teams with his own children, as well as from individual cryptocurrency investors,” said Durham in his statement. Based on a recent survey done in the U.S. and Canada by The North American Securities Administrators Association, cryptocurrency and social media scams were revealed to be the top two threats faced by retail investors in 2025. About 32% of recorded scams lured victims through social media platforms like Facebook and X, while another 31% were linked to messaging services, including Telegram and WhatsApp.
Federal court orders crypto personality 'TJ Stone' to serve 45 months in prison and to pay over $1.3 million forfeiture for wire fraud
A federal court sentenced Thomas John Sfraga, a Brooklyn-based podcaster and crypto personality known as "TJ Stone," to 45 months in prison for wire fraud related to illicit cryptocurrency and real estate schemes. The court also ordered Sfraga to pay an additional $1,337,700 in forfeiture, according to a Friday release from the United States Department of Justice. Along with convincing individuals to invest in construction and renovation projects that never happened, Sfraga persuaded one of his at least 17 victims to invest in a fake cryptocurrency digital wallet — promising returns of up to 60% in three months. Sfraga then pocketed the funds for his own benefit and to pay back earlier victims, among other personal uses, the DOJ release continues. Sfraga duped investors out of around $2 million through these sham endeavors. Sfraga also claimed to run numerous businesses, including a fictitious one called "Vandelay Contracting Corp," a nod to "Vandelay Industries," the fake company name the character George Costanza frequently used in the sitcom Seinfeld. "Sfraga callously stole from friends, next-door neighbors and the parents of children who played on teams with his own children, as well as from individual cryptocurrency investors," said John J. Durham, US Attorney for the Eastern District of New York, in a statement. "There was nothing funny about his use of a Seinfeldian company, Vandelay Industries, to carry out this fraud, which caused severe financial and emotional harm to the hard-working men and women who trusted him." Sfraga pled guilty to wire fraud charges in May 2024, The Block previously reported.
JP Morgan cuts price target on Tesla shares
After weeks of downturns on Tesla J.P. Morgan has lowered its price target on Tesla’s stock. This is mainly because the company thinks that fewer cars will be delivered for the second year in a row. Analysts also say that current and possibly new customers are feeling differently about the electric vehicle maker. JP Morgan also lowered its price target for the electric car company’s shares from $135 to $120. Data shows that the middle price goal for the stock is $370. In addition, the firm said that Tesla will deliver about 1.78 million cars this year, which is about 1% less than in 2024. TSLA one-hour price chart. Source/TradingView There have been reactions toward the brand such as protests at Tesla stores across the U.S. and around the world, sales boycotts, and jettisoning already purchased vehicles in the second-hand market. Protesters have recently held what they call “Tesla Takedown” events to show their displeasure with Elon Musk’s role in cutting the size of the U.S. government workforce and canceling contracts that would have helped fund humanitarian efforts around the world. Tesla’s stock has dropped since December when it hit an all-time high. This took away most of the gains the stock made after Trump won the election in November. Since Monday, when it fell 15.4%, the stock has gone up 10%. See also Wall Street selloff deepens, White House pushes back against recession talk Trump is blaming protestors for Tesla’s fall, but analysts think otherwise Trump asked in front of the White House whether such protesters should be labeled as domestic terrorists. He said, “You do it to Tesla, and you do it to any company, we’re going to catch you and you’re going to go through hell.” Trump also sat in the driver’s seat of a brand new red Tesla that he said he planned to buy, with Musk in the passenger seat, but did not test drive it. On his social media platform, Truth Social, Trump blamed Tesla’s share price falls on “radical left lunatics,” who he said were trying to illegally and collusively boycott the company. However, stock analysts said the main reason for the shares’ poor performance was fear about Tesla meeting production targets and a drop in sales over the past year. An investment strategist at Quilter Investors named Lindsay James said that the drop in share price had more than one cause. She said that Elon Musk’s political views had an element of a brand impact. She said that the drop was ultimately caused by hard numbers. Tesla is not the only one affected. When you look at new orders, for example, in Europe and China, you can see that they’ve effectively halved over the last year. See also Fed chair Jerome Powell takes a jab at president Trump and his economic policies This year, sales have dropped a lot in Europe. The European Automobile Manufacturers’ Association (ACEA) says that sales were 45% lower in January than the same month in 2024 across the whole continent. In addition, China, which is a key market, and Australia have also seen sharp drops. Some experts say Tesla is overvalued and that the drop is just a correction. Others say that some Chinese electric car companies are becoming more of a threat. Not to forget that people are certainly getting more worried about an economic slowdown too, so the richest-valued companies like Tesla have been hit hardest in recent days. People have also said they think Musk doesn’t pay enough attention to his businesses. On Tuesday, he said about how “with great difficulty” he was running his businesses and being DOGE at the same time. In addition to Tesla, he also runs the social media network X and the company SpaceX, whose last two launches of its huge Starship rocket have failed horribly. On Monday, X went down. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Congress Torches IRS Crypto Rules in Major Win for Digital Assets
The U.S. House of Representatives approved H.J. Res. 25 on March 11, aiming to overturn the previous administration’s “Broker Rule,” which critics argue imposes excessive burdens on digital asset transactions and stifles innovation. This follows the Senate’s passage of S.J. Res. 28 on March 5. The measure seeks to nullify an Internal Revenue Service (IRS) regulation that requires certain brokers, including decentralized finance (DeFi) entities, to report transaction details. Supporters of the resolution contend that the rule imposes unnecessary compliance costs and threatens to drive cryptocurrency development overseas. House Financial Services Committee Chairman French Hill (R-AR) praised the decision, stating: The previous Administration’s controversial ‘Broker Rule’ is a clear example of government overreach that threatens to push American digital asset development overseas. The lawmaker added: “I was proud to protect America’s leadership in the digital asset ecosystem and vote to overturn this harmful, anti-innovation midnight rulemaking.” Hill also underscored the need for bipartisan action to refine cryptocurrency regulations: “I look forward to working in a bipartisan manner to ensure the digital asset reporting requirements from the Infrastructure Investment and Jobs Act match the technology’s operation. We must bring legal and regulatory certainty to ensure these technologies and entrepreneurs can flourish here in the United States.” House Republican Conference Chairwoman Lisa McClain (R-MI) commented: We voted to reverse another burdensome regulation that created unnecessary bureaucracy in our digital asset sales. House Republicans are easing restrictions, spurring innovation, and making America more competitive. President Donald Trump must sign the resolution for it to become law. The White House has expressed support for the measure, aligning with its broader strategy to ease regulatory constraints and foster innovation in the digital asset sector. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
Trump's Crypto Summit Disappoints, Signals Frustrations in Cryptocurrency Industry
Trump promises but delivers little at Crypto Summit. Frustration grows in the cryptocurrency community. Limited impact of the event on future regulations. Saturday, March 8, 2025 – At the time of publication, the price of BTC is quoted at $86.233,66 with a drop of 3% in the last 24 hours. The recent White House “Crypto Summit” hosted by President Donald Trump was marked more by dissatisfaction than expected enthusiasm, leaving the cryptocurrency community with little reason to celebrate. With expectations high for new favorable regulatory guidelines, the gathering appeared to fail to deliver on any significant promises, resulting in a slight drop in the price of Bitcoin. "Welcome to the first-ever White House Digital Asset Summit. Last year, I promised to make America the Bitcoin superpower of the world, AND WE'RE TAKING HISTORIC ACTION TO DELIVER ON THAT PROMISE." –President Donald J. Trump 🇺🇸 pic.twitter.com/nqUrHQ1xLl — President Donald J. Trump (@POTUS) March 8, 2025 During the event, Trump expressed his intentions to transform the United States into the “Bitcoin capital of the world,” a statement that was met with initial applause but that soon dissipated. “Welcome to the first-ever White House Digital Assets Summit. I know many of you have been fighting for this for years, and it’s an honor to be here with you. Last year, I promised to make America the Bitcoin capital of the world… and we’re taking historic steps to deliver on that promise,” the president said. However, the brief duration of the event and the superficial discussions about future regulations were not enough to sustain optimism. Trump’s attempts to limit the authority of federal regulators were praised by crypto executives such as Coinbase CEO Brian Armstrong. However, the limited focus and lack of detail in the proposals left a negative impression. The summit, which lasted just over 20 minutes on television, generated more criticism than praise. Peter Schiff, financial commentator and cryptocurrency critic, was harsh in his words: “The Crypto Summit is a disgrace. It is a national embarrassment. The crypto faction that has captured the White House is precisely what our Founding Fathers warned us about. It will be a blight on any legacy Trump leaves and will mark a low point for the presidency and the United States.” On the cryptocurrencies XRP, SOL and ADA, David Sacks clarified Some statements by President Trump in a post on Truth Social. The coins were mentioned in relation to their market value, but he did not state that a reserve would be created for these cryptos. “I think people are just reading a little bit too much into it. He just mentioned the top five,” Sacks said. Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss. Tags: Bitcoin (BTC) Donald Trump EUA
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