Bukele Generates More than $30 Million in Profits for El Salvador with Bitcoin

Nayib Bukele

El Salvador has accumulated more than $30 million in profits by retaining bitcoin reserves, after becoming the first country in Latin America to adopt this digital currency in an initiative led by President Nayib Bukele since 2021.

Bitcoin , the most used cryptocurrency , soared this Wednesday, reaching November 2021 levels and exceeding $60,000 , after surpassing $57,100 the day before, which has generated profits for the Central American country.

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Ohio U.S. Senator JD Vance Demands Answers After SEC X Account ‘Compromised,’ Announces Premature Approval of of Spot-Bitcoin Exchange-Traded Funds

Vance Tillis

U.S. Senators JD Vance (R-OH) and Thom Tillis (R-NC) have sent a letter to Gary Gensler, chair of the Securities and Exchange Commission (SEC), demanding answers after the commission’s X account tweeted false information leading to “drastic swings in the price of Bitcoin and other cryptocurrencies.”

On Tuesday, the SEC’s X account published a post announcing that it had approved Bitcoin exchange-traded funds (ETFs) to be listed on all registered U.S. securities exchanges.

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First U.S. Nuclear-Powered Data Center, Bitcoin Mine Coming to Pennsylvania

The country’s first nuclear-powered data center and bitcoin mining operation  – located in northeastern Pennsylvania – will soon welcome its first tenant.

Cumulus Data said the first of several 48 megawatt “powered shell data center” at its 1,200-acre campus in Columbia County that will provide digital infrastructure and decarbonized energy to clients via the Susquehanna Steam Electric Station in Berwick is now ready for lease.

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Commentary: Bitcoin Could Spark a Cheap Energy Boom

People who have a problem with how much energy it takes to mine Bitcoin should take a more long term view of the situation and realize Bitcoin´s energy requirements are a feature, not a bug. Bitcoin mining provides a powerful market incentive for energy producers worldwide to increase the production of cheap energy, which could potentially drive down global energy prices. That’s great news for everyone, but it’s especially good for the least well-off in society, as they’ll be the ones who benefit the most from cheaper energy.

Bitcoin relies on a consensus mechanism called Proof-of-Work (PoW) which requires energy to issue new tokens into existence. PoW is a complex computing process performed with specialized machines that consume a lot of energy. Thanks to this technological innovation, today we all have access to a new form of money that exists in the digital world. Therefore, Bitcoin can be seen as both an “energy currency” and a “digital currency.”

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University Bets on Bitcoin as Nationwide Enrollment Dips

San Diego State University is now accepting donations in the form of Cryptocurrencies such as Bitcoin and Ethereum.

An anonymous donor has sent the school approximately $25,000 worth of Bitcoin, according to the SDSU NewsCenter.

“The SDSU auxiliary will keep almost all of the contribution in the form of Bitcoin instead of immediately converting it all to cash as many other universities have done,” the outlet reported.

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Crypto Market Sees $130 Billion Sell-off over Last 24 Hours

The cryptocurrency market lost nearly $130 billion in value over the last 24 hours as major digital coins continue their extended sell-off, multiple sources reported.

Bitcoin dropped 4.81% to $33,693.63 over the last 24 hours while Ethereum slid 9.41% to $2,206.22, according to Coinbase. Both assets fell to their lowest level since July 2021, and each has lost roughly 50% of its highest value.

Cryptocurrencies have trended similarly to stocks, which have seen a sell-off since the start of 2022. Investors have dumped their assets, especially technology stocks, in preparation for tighter monetary policies from the Federal Reserve, including interest rate hikes and halting of the central bank’s asset purchasing stimulus program.

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Commentary: The Coverage of Cryptocurrencies on Television News

Dogecoin

How have cryptocurrencies been covered on television news? The timeline below shows total mentions of “cryptocurrency” and Bitcoin, Ethereum and Dogecoin over the past decade, showing an initial glimmer of mentions from 2013-2015, but that coverage of cryptocurrencies did not really take off until December 2017 when Bitcoin reached a valuation of $20,000 per coin. Mentions again took off in January of this year and have increased steadily month over month as it has attracted ever greater prominence.

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Florida Teen Arrested for Massive Twitter Hack, Prosecutors Say

A 17-year-old from Tampa, Florida, was arrested Friday for allegedly carrying out the massive Twitter hacking scam on July 15, according to WFLA.

Graham Ivan Clark was arrested Friday around 6 a.m. and faces 30 felony charges in the alleged scam, which prosecutors have dubbed the “Bit-Con” hack, according to a press release from Hillsborough State Attorney Andrew H. Warren.

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Biden, Gates, Other Twitter Accounts Hacked in Bitcoin Scam

Unidentified hackers broke into the Twitter accounts of technology moguls, politicians, celebrities and major companies Wednesday in an apparent Bitcoin scam.

The ruse included bogus tweets from former President Barack Obama, Democratic presidential front-runner Joe Biden, Mike Bloomberg and a number of tech billionaires including Amazon CEO Jeff Bezos, Microsoft co-founder Bill Gates and Tesla CEO Elon Musk. Celebrities Kanye West and his wife, Kim Kardashian West, were also hacked. The fake tweets tweets offered to send $2,000 for every $1,000 sent to an anonymous Bitcoin address.

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