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Semler Scientific Invests in Bitcoin, Riot Platforms Eyes Bitfarms Acquisition, and More Crypto News

Fernanda T
Latest News
May 28 2024 3:42PM

Semler Scientific invests $40 million in Bitcoin

Semler Scientific (NASDAQ:SMLR), a company specializing in health products, announced the acquisition of 581 Bitcoins for $40 million, highlighting digital currency as a promising investment and store of value. According to CEO Eric Semler, this strategy aims to protect the company against inflation and capitalize on the potential appreciation of Bitcoin, comparing it to gold. The announcement boosted the company’s shares by 35%.

Riot proposes acquisition of Bitfarms aiming to create the largest Bitcoin miner

Riot Platforms (NASDAQ:RIOT) announced a bid to acquire Bitfarms (NASDAQ:BITF) for $2.30 per share, aiming to form the world’s largest publicly listed Bitcoin miner. The proposal includes cash and stock payments, with Bitfarms shareholders potentially holding about 17% of the combined company. Riot already owns 9.25% of Bitfarms and seeks to influence governance with new directors.

Bitcoin fluctuates after $9 billion transfer from Mt. Gox

Bitcoin (COIN:BTCUSD) fell to a low of $67,194.59 during Tuesday’s trading. Wallets associated with Mt. Gox moved $9 billion in BTC to an unknown address, part of a possible plan to reimburse creditors. The cryptocurrency, which had surpassed $70,000 on Monday, partially recovered to $68,070 in the last 24 hours.

Bitcoin miners in the US spend $2.7 billion on electricity in 2024

In the first months of 2024, Bitcoin miners (COIN:BTCUSD) in the United States consumed 20,822.62 GWh of electricity, totaling $2.7 billion in expenses. According to Paul Hoffman of Best Brokers, this amount of energy would be enough to charge all electric vehicles in the US several times over or power millions of homes annually.

Turbo Memecoin reaches $638 million valuation

Created with an initial budget of $69, the Turbo memecoin (COIN:TURBOUSD), inspired by the OpenAI ChatGPT chatbot, reached a market valuation of $638 million. The token hit a new all-time high on May 28, with a price of $0.009693, marking an increase of over 13,000% since its lowest value. Success is attributed to its decentralized management and strong online community.

Polygon Labs reinforces focus on ZK solutions with new strategic shift

Polygon Labs (COIN:MATICUSD) is intensifying its focus on zero-knowledge (ZK) solutions, appointing co-founder Sandeep Nailwal as Chief Business Officer. This new role highlights a focus on developing ZK tools, essential for building and transitioning layer 2 chains on the Ethereum network. Nailwal will also lead integrations with the AggLayer protocol, aiming to expand Polygon’s technological capabilities.

MoonPay launches Web3 Tools to revolutionize digital experiences

MoonPay introduced the Web3 Tools platform to facilitate the creation of mainstream digital experiences, the company announced last Tuesday. This new tool expands MoonPay’s payment and minting services, adding authentication, identity verification, and other functionalities. Major brands like Mastercard (NYSE:MA) and Adidas (USOTC:ADDYY) are already using the platform, highlighting its potential to transform the $81.5 billion digital ownership market.

Dune launches enterprise solution to streamline blockchain data integrations

Dune, the leading web3 data analytics platform, unveiled Dune Catalyst, an enterprise solution designed to streamline blockchain data integrations. Dune Catalyst aims to offer blockchain teams a way to make their data accessible to the largest global crypto data community, through a managed or hosted solution.

ENS Labs proposes upgrade for Layer-2 network migration

ENS Labs, the entity behind the Ethereum Name Service, has proposed a significant upgrade, ENSv2, to facilitate the migration of the service to a layer-2 Ethereum network. This change promises greater scalability, reduced gas fees, and faster transaction speeds, enhancing usability for users and developers. Adoption of Layer-2 networks has been growing, reaching a new record of locked assets.

Hacker returns $68 million after digital investigation

In a remarkable act of restitution, the attacker who drained $68 million in Wrapped Bitcoin (COIN:WBTCUSD) returned all funds after being exposed through “digital evidence,” including a “device fingerprint.” Andrey Kutin, CEO of Match Systems, confirmed on May 23 that this evidence strengthened the position of the victims in negotiations, allowing for the complete recovery of lost amounts.

Based Doge Protocol (BOGE) suffers hacker attack similar to Normie

The Memecoin Based Doge Protocol (BOGE) on the Base network was compromised in a hacker attack on May 27, the team revealed. Exploiting a vulnerability similar to the recent Normie exploit, the attack resulted in the theft of 91.4 million BOGE, causing a significant impact on the coin’s market value. The team plans to relaunch the project to compensate victims of the incident.

HTX surpasses Coinbase in spot trading volume

HTX, formerly known as Huobi, has surpassed Coinbase Global (NASDAQ:COIN) in spot trading volume, announced Justin Sun, HTX advisor. With a daily volume of around $2.4 billion, HTX is now the fourth largest cryptocurrency exchange globally. Coinbase, facing legal challenges in the US, recorded approximately $2 billion in volumes, falling behind in rankings.

Former FTX executive Ryan Salame sentenced to 7.5 years in prison

Ryan Salame, former FTX executive, has been sentenced to 90 months in prison for his role in an illegal political influence campaign and operation of an unlicensed money transmission business. US Attorney Damian Williams highlighted that Salame’s actions harmed the integrity of American elections and the financial system. Salame will also face three years of supervised release and fines totaling over $11 million.