69. Hut 8 looking at strategic growth around the bitcoin halving
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Hut 8’s new CEO has a strategic eye to growth, and places shareholder trust as a high priority.
Crypto Corner
President Nayib Bukele announced that El Salvador intends to move a significant portion of its bitcoin holdings to an offline device, which will then be securely stored in a physical vault within the country's borders.
A $300 million Ponzi scheme that targeted Latinos falsely claimed to buy crypto, the SEC says. The SEC charged 17 individuals tied to the scheme that allegedly scammed more than 40,000 victims.
North Korean hackers used Tornado Cash to launder $12 million from the Heco Bridge hack, according to Elliptic. The hacking group sent more than 40 transactions to Tornado Cash over the past 24 hours.
Justin Sun has deposited $480 million worth of ETH to the restaking protocol Ether.Fi. This move has contributed to Ether.Fi nearing $3 billion in total value locked.
Hong Kong's Securities and Futures Commission has issued a warning against the crypto exchange Bybit. The regulator added 11 products offered by Bybit to its list of suspicious investments.
Polyhedra Network has closed a $20 million funding round at a valuation of $1 billion. This marks the Web 3 infrastructure provider's fifth round of financing in the last two years.
SBF could be going to prison for a long time!
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Business Launches
NFT Spotlight
NFT of the week: Too Much Going On In The Head Department
Indian Railways is innovating by introducing NFT train tickets for passengers on two new semi-high-speed trains.
Hivemind Capital aims to raise $50 million for a fund dedicated to supporting digital art and blockchain technology projects.
Omnisea is set to enable ritual-powered aiNFT drops in an upcoming integration.
Bitcoin Buzz
$745B asset management firm, Alliance Bernstein predicts a $150,000 Bitcoin price by mid-2025.
Bitcoin tumbles to $67K as Asia begins trading day. Over $100 million in bitcoin long positions have been wiped out as the world's largest digital asset fell from $70K.
Qatar’s sovereign fund might be buying Bitcoin, but surely not $500 billion worth. Government-led investments in crypto are increasingly plausible – but not at that rumored size.
Movies Plus now accepts Bitcoin as a payment method.
MicroStrategy has increased its convertible loan to $525 million, intending to use the proceeds to acquire more Bitcoin.
Two Democratic senators are pressuring SEC Chair Gary Gensler not to approve any more cryptocurrency exchange-traded funds (ETFs). They argue that further approvals could expose investors to risks such as fraud and manipulation.
Bitcoin Miners’ Marvels
Bitcoin miner Bitdeer is considered "differentiated" from its peers, with its shares being viewed as cheap, according to Benchmark. The miner's stock is deemed undervalued due to the substantial gap between the company’s valuation and its promising growth prospects, as highlighted in the report.
Mining giant Marathon is poised to acquire another site, signaling its proactive stance ahead of the Bitcoin halving. The planned $87 million deal comes shortly after Marathon's acquisition of two mining facilities in January.
On March 14, the Bitcoin mining difficulty reached a new all-time high of 83.99 T.
Quote Of The Week:
“Do one thing every day that scares you." -Eleanor Roosevelt
That’s it for this week. Have an awesome weekend, crew!