🦎🚀 Bhutan's Bitcoin Mining Bet 🪙🌳

Wednesday, May 3, 2023

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Another Crypto Bet

Remember the $1 million bet put out by Ex-Coinbase CTO Balaji Srinivasan in March that Bitcoin's price would top $1 million by mid-June?

Balaji has tweeted today that the bet has been mutually settled early, with a total of $1.5 million being been paid out, of which $500 thousand was paid to James Medlock (the Twitter pundit Balaji betted against), and another $1 million split between poverty charity Give Directly and bitcoin developers. Balaji insists that the bet was made to prove a point that the U.S economy is in a dire state.

In today's news, bankrupt-FTX billed $103 million by advisors, mining companies team up to set up emissions-free mining in Bhutan, and Bitcoin daily transactions hit ATH with Ordinals.

Read on!

Which is the Largest Centralized Exchange?

Binance continued to reign supreme, maintaining a dominance of >60% throughout 2023 Q1. While Binance saw its trading volume rise, its competitors saw volumes stagnate.

Learn more

24h Hot Searches Worldwide

ChainGPT (+23.2%)
Bitcoin (+1.9%)
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Losing your money to a sudden dip or rise in the market? 💸

This video explains short and long squeezes and how they reflect the risk of trading!

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Double Whammy

The lawyers and consulting firms assisting crypto exchange FTX through its bankruptcy proceedings have billed the exchange a whopping total of $103 million over Q1 2023.

Amongst the five firms involved - Sullivan & Cromwell, Alvarez & Marshal, AlixPartners, Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb - New York-based law firm Sullivan & Cromwell again walked away with the biggest paycheck in March, billing $14.1 million in fees and expenses, adding to a total of $44.4 million over the first quarter.

CoinTelegraph

Bhutan betting on Bitcoin

Nasdaq-listed mining company Bitdeer Technologies Group and Bhutan's sovereign investment arm Druk Holding and Investments (DHI) have teamed up to create eco-friendly and carbon-free digital asset mining operations in the Kingdom of Bhutan (the first - and perhaps only - carbon-negative country in the world!).

In an announcement sent to Cointelegraph, Bitdeer and DHI said they would launch the partnership by creating a closed-end fund with an approximate value of $500 million. The firms aim to start their fundraising efforts at the end of May to attract investments from around the world.

CoinTelegraph

Ordinals Boon

Despite a dip in price, Bitcoin transaction fees continue to skyrocket—due in no small part to Bitcoin Ordinals. The total fees paid for Ordinal inscriptions topped 272 BTC, around $7.6 million on Tuesday, according to a Dune Analytics dashboard.

Most of this acceleration in transaction fee rise is due to 'BRC-20's, a token standard which made minting tokens and meme coins on the Bitcoin network possible. However, most inscriptions are still text-based as they incur lower costs.

Decrypt

Core is a self-custody crypto wallet and web portfolio with real-time data and analytics on DeFi 🔐

Let's explore its key features such as its user-friendly interface, cross-chain transaction signing capabilities, and more!

Check it out here!

In this latest piece from Footprint Analytics, we look at the different types of Web3 games and GameFi's progress from early games centered on DeFi principles all the way to AAA games and their focus on high-quality graphics and playability.

Read it here.