Topic

Economics News

A collection of 533 issues

Solo Miner Earns Over $200,000 by Mining a Block with a Low Hashrate Device

uly 24, 2024 – In an astonishing turn of events in the cryptocurrency world, a solo miner has successfully mined a block, earning over $200,000 with a device that has a hashrate of merely 500 Gh/s. Mining in the cryptocurrency ecosystem often involves powerful and expensive hardware setups that

President of ETF Store Predicts the Launch of Spot ETFs Based on Three Crypto Assets

In a significant prediction for the cryptocurrency market, the President of ETF Store, Nate Geraci, has forecasted the potential launch of spot ETFs based on three major crypto assets: Bitcoin, Ethereum, and Solana. This development could occur in the coming months as companies prepare to file registration applications for the

Chinese Exports to Russia Rebound After Spring Decline

China and Russia Overcome Payment Issues, Boosting Trade in June by 5.1 PercentChinese exports to Russia experienced a notable increase of 5.1 percent year-over-year in June, reaching a total of 70.23 billion yuan, according to a report by RBC. This marks the second consecutive month of growth

Illinois Court Declares Bitcoin and Ethereum as Commodities: What This Means for the Future of Cryptocurrency Regulation

IntroductionIn a landmark decision, an Illinois court has officially declared Bitcoin (BTC) and Ethereum (ETH) as commodities. This ruling, announced by Rostin Benham, Chairman of the Commodities and Futures Trading Commission (CFTC), during a U.S. Senate committee hearing, effectively concludes the ongoing dispute between the CFTC and its sister

Trade Imbalance: A Major Concern in India-Russia Relations, Asserts Indian Foreign Ministry Deputy Vinay Kwatra

As the trade and economic ties between India and Russia continue to evolve, a significant challenge has come to the forefront—the issue of trade imbalance. This concern was highlighted by Vinay Kwatra, the First Deputy Minister of India's Ministry of External Affairs, during a statement about the upcoming bilateral

Bitwise Updates S-1 Form Submission for Spot Ethereum ETF: Implications and Expectations

Bitwise Asset Management has made a significant move by updating its S-1 form submission for a spot Ethereum ETF. This submission came just days before the July 8 deadline, as reported by Bloomberg analyst James Seyffart. The Securities and Exchange Commission (SEC) could potentially approve this new class of financial

Hong Kong Resumes Record-Breaking Purchases of Russian Gold, Spending $750 Million in May Alone

Hong Kong significantly increased its purchases of Russian gold in May, buying almost 60 times more than in April, reaching a total of $750 million—the highest amount since October of the previous year. This surge in imports marks a notable rebound from earlier in the year when there were

Colosseum Startup Secures $60 Million in Funding to Boost Early-Stage Projects in GameFi, DeFi, and DePIN Sectors

In a significant financial boost, Colosseum, a startup operating within the Solana ecosystem, has successfully closed a $60 million investment round. This substantial capital influx is poised to spearhead the development of cutting-edge projects across various sectors, with a specific focus on GameFi, DeFi, and DePIN. The investment was led

Ethereum ETFs Delayed: Bloomberg Analyst Predicts Launch Rescheduled for July 2nd

Bloomberg's exchange analyst Eric Balchunas recently reported a rescheduling in the launch date of the spot Ethereum ETFs, now set for July 2nd, following feedback on the S-1 forms submitted by issuers. According to Balchunas, the feedback received was "fairly straightforward, nothing serious," indicating no major concerns from the U.

Solana Foundation Excludes Validator Group from Delegation Program After MEV Attacks

In a decisive move against unethical practices, the Solana Foundation has expelled a group of validators from its delegation program. The team took this action following confirmed instances of the validators participating in Miner Extractable Value (MEV) attacks that targeted network users. Such activities, as reported by The Block citing