Lombard, a Bitcoin restaking protocol, has raised $16M in seed funding led by @PolychainCap. The funds will develop Lombard’s ecosystem and their new token, LBTC, enabling Bitcoin’s integration into Web3 and DeFi. Partnerships with @bitgetglobal, @Bybit_Official, @okx, and HTX will enhance liquidity. #Update
Bitcoin and Ethereum outpaced the “Magnificent Seven” tech giants in market cap growth since 2019. $BTC rose by 1102% and $ETH by 2218%, surpassing companies like @Apple and @Microsoft. Crypto’s role in finance is rising. #Update
? Marathon Digital (@MarathonDH) boosts its Bitcoin reserves to 18,536 BTC by June 2024, mining 590 BTC in June worth $35.64M. Operational hash rate hits 26.3 EH/s with 250K devices. Strategic moves include immersion cooling and a Finland heating pilot. #Crypto
The U.S. government holds 213,543 $BTC from criminal seizures but has lost billions by selling at inopportune times. In 2014, 50,000 BTC was sold for $19M, now worth $3.1B. Upcoming sales may affect market prices. #Update
? Ethereum, Bitcoin, and XRP lead 2024 crypto scam losses, with over $1.5B stolen in the first half. DeFi protocols hit hardest, accounting for 59% of losses. Major hacks include 4,502.9 BTC from DMM Bitcoin and 213M XRP from Chris Larsen’s wallets. Security measures are crucial. #CryptoSecurity
Grayscale’s converted ETF, GBTC, saw outflows of $32M, lowering its AUM below $17B. Meanwhile, BlackRock’s IBIT ETF gained $14M, boosting AUM to over $19B. This highlights the cryptocurrency market’s volatility. #Update #CryptoNews
Over 50% of top US hedge funds have invested in Bitcoin ETFs, with Millennium Management holding 27,263 BTC worth $1.65B. In 2024, 600+ companies invested $3.5B in Bitcoin ETFs, signaling growing institutional confidence in cryptocurrency. #Bitcoin #Update
CleanSpark mined 445 BTC in June, doubling its hashrate since December, surpassing its 20 EH/s target. Despite the Bitcoin halving event, efficiency gains boosted performance. Stock price up 58% YTD. #BitcoinMining #Update
Bitcoin miners face forced selling due to reduced rewards and lower fees. Since the halving, rewards dropped to 3.125 BTC, fees plummeted 90%, and mining costs rose. Major miner $MARA sold 390 BTC in May. Miners explore alternatives like Kaspa and mergers for efficiency. #Bitcoin #CryptoNews
Crypto mining stocks like Hut 8 and Bitfarms have surged, with returns of 86% and 34%, respectively, post-Bitcoin’s halving, while BTC dropped 3.62%. Analysts highlight the importance of infrastructure and scale in mining. #Crypto #Update
Germany transferred 1,332 BTC worth $83.5M to exchanges including @Bitstamp, @coinbase, and @krakenfx. The government holds 43,350 BTC, valued at $2.7B, showcasing strategic crypto asset management. Such moves influence market dynamics and investor sentiment. #Cryptocurrency #BTC
Spot Bitcoin ETFs saw a $129.5M inflow on July 1, 2024. Fidelity’s FBTC led with $65M, followed by Bitwise’s BITB at $41.4M. Grayscale and BlackRock had stable flows. This surge highlights growing confidence in #Bitcoin ETFs despite recent price drops. #Update
Bitcoin whale moves 33 BTC worth $2.14M after 13 years of inactivity, incurring just $1.13 in fees. Originating from 2011, this aligns with a trend of reactivated long-dormant accounts, impacting market sentiment. $BTC now trades near $62,600. #CryptoUpdate
German gov’t transferred 832 Bitcoins ($BTC) worth $50M to exchanges like @Bitstamp, @Coinbase, and @krakenfx, reducing its holdings by 10%. Originally holding 50K BTC seized from pirates, it now holds 43,859 BTC worth $2.74B. Bitcoin now trades at $62,442. #CryptoUpdate
