News | Crypto Profit Bot

3 charts showing this Bitcoin price drop is unlike summer 2021

June 28, 2022

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Bitcoin (BTC) bear markets come in many shapes and sizes, but this one has given many reason to panic. BTC has been described as facing “a bear of historic proportions” in 2022, but just one year ago, a similar feeling of doom swept crypto markets as Bitcoin saw a 50% drawdown in weeks. Beyond price, […]

Not the best week for crypto lending: Law Decoded, June 20-27

June 28, 2022

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The Celsium failure continues to draw attention to the lending issues from regulators and community. 51 Total views 9 Total shares Due to Celsius Network’s withdrawal suspension in mid-June, the very topic of crypto lending made its entryway to the acute issues list for the regulators. Last week, lawmakers and officials continued to raise the […]

Uzbekistan warms up to Bitcoin mining, but there’s a catch

June 28, 2022

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The executive order spares all the mined assets from taxation and bans mining anonymous currencies. 545 Total views 8 Total shares The National Agency of Prospective Projects (NAPP) in Uzbekistan announced its demands toward crypto mining operators. It would only allow the companies that use solar energy to mine Bitcoin (BTC) or other cryptocurrencies. The […]

Celsius denies allegations on Alex Mashinsky trying to flee US

June 28, 2022

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Celsius CEO Alex Mashinsky wasn’t trying to leave the U.S. last week but has continued to work on recovering liquidity and operations, the company has claimed. 1245 Total views 18 Total shares Troubled crypto lending firm Celsius is putting their best foot forward to recover operations alongside CEO Alex Mashinsky, who currently stays in the […]

Bitcoin mining revenue mirrors 2021 lows, right before BTC breached $69K

June 28, 2022

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The key to survival for Bitcoin miners boils down to the delicate balance between the revenue and the operating cash flow. 1304 Total views 20 Total shares Bitcoin (BTC) visiting the $20,000 range after one and a half years made mining — the most important job of the ecosystem — a costly affair. However, if […]

Compass Mining loses facility after allegedly failing to pay power bill

June 28, 2022

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Bitcoin (BTC) mining hardware and hosting company Compass Mining has lost one of its Maine-based hosting facilities after the owner, Dynamics Mining, terminated the hosting agreement between the two, claiming Compass failed to pay the required bills. Late on Sunday, Dynamics tweeted a letter on Twitter it sent to Compass Mining which stated as of […]

Tether CTO refutes stablecoin FUD as short-sellers circle

June 28, 2022

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Tether chief technology officer Paolo Ardoino has confirmed that the stablecoin Tether (USDT) has been the subject of a “coordinated attack” by hedge funds looking to short-sell the United States dollar-pegged crypto asset. Speaking to his 151,600 Twitter followers on Monday, the Tether executive was responding to reports that hedge funds have been borrowing millions […]

CoinFLEX recovery plan includes tokenized bad debt and more yields

June 28, 2022

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The crypto lender issued a no-liquidation account to an unnamed whale on the condition that the account would never go negative, but that plan has backfired. 691 Total views 55 Total shares Crypto investment platform CoinFLEX aims to rectify its liquidity shortage and restart user withdrawals by selling off bad debt through a new $47 […]

Crypto community confused as Celsius continues with weekly rewards

June 28, 2022

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Some Twitter users have called it “insulting” that Celsius continues to pay weekly rewards despite still pausing withdrawals. 2388 Total views 35 Total shares Members of the crypto community on Twitter have been left bewildered by the beleaguered Celsius Network continuing to pay weekly rewards despite pausing withdrawals two weeks ago. As previously reported, crypto […]

Unizen ‘CeDeFi’ smart exchange secures $200M investment from GEM

June 28, 2022

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The alternative investment group is banking on the “CeDeFi exchange” to shape the “future of finance” with a commitment that will bolster Unizen’s ecosystem. 1976 Total views 26 Total shares Cryptocurrency exchange Unizen has scored a $200 million investment from private equity group Global Emerging Markets (GEM), which it will use to expand its business […]

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