Coin Bytes Archives - Timescrypto

Wisconsin Lawmakers Renew Efforts to Regulate Crypto Kiosks Amid Rising Fraud Concerns

Wisconsin lawmakers are stepping up their efforts to better regulate the state’s 582 cryptocurrency kiosks, introducing a second bill in just two weeks to tackle the rising fraud connected to these machines. A recent FinCEN report showed a staggering 99% increase in scams involving crypto kiosks in 2024, resulting in losses of $247 million. To protect consumers, the new proposals aim to limit daily transactions to $1,000. Both Senate Bill 386 and Assembly Bill 384 focus on kiosks found in gas stations, grocery stores, and convenience shops, hoping to make crypto transactions safer for everyone.

Crypto Exchange FTX Customers Seek to Amend Lawsuit Against Former Legal Adviser

Former customers of the defunct crypto exchange FTX have proposed amending their ongoing lawsuit against Fenwick & West, the exchange’s previous legal adviser. The move follows new evidence suggesting that the law firm played a significant role in FTX’s collapse. The proposed amendment aims to hold Fenwick & West accountable for their alleged involvement in practices that contributed to the downfall of one of crypto’s most high-profile platforms. The case continues to highlight the growing scrutiny of legal and advisory firms in the crypto industry’s regulatory and ethical landscape.

Upbit Expands Trading with New CYBER Pairs Amid Growing Web3 Interest

South Korea’s largest crypto exchange, Upbit, will introduce trading pairs for CYBER/KRW and CYBER/USDT. The move likely aims at broadening opportunities for traders and investors. CYBER as a project is focused on building decentralized social networking infrastructure powered by Web3 technology. The listing of CYBER against both the Korean won and USDT will help diversify trading options for investors. The move also marks a step forward in integrating blockchain-based social networks into mainstream crypto markets.

MARA Steps Into AI and Computing with $168M Exaion Deal

Bitcoin miner MARA is investing $168 million to buy a 64% stake in Exaion, a part of France’s state-owned energy giant, Électricité de France. The move isn’t just about mining anymore, it’s a big step into artificial intelligence and high-performance computing. With the Exaion acquisition, MARA aims to tap into cutting-edge, energy-efficient tech that could transform how they operate.

Kazakhstan Busts $16M Illegal Crypto Mining Ring

Kazakhstan’s Financial Monitoring Agency (AFM) and National Security Committee (KNB) have uncovered a secret crypto mining operation that stole over $16 million worth of electricity. The hidden mining farms were quietly running around the clock. The operations had drained power from the national grid without paying a dime. Once a global hotspot for Bitcoin mining, Kazakhstan has been tightening the reins on the crypto mining industry to protect its energy supply. The nation has started an extensive crackdown on illegal setups.

Metaplanet Adds $61.4M in Bitcoin, Strengthening Its Bet on Crypto

Metaplanet, a Japan-listed company, is doubling down on Bitcoin. The firm just picked up another 518 BTC for about $61.4 million, paying an average of $118,519 per coin. This latest buy pushes Metaplanet’s total stash to a massive 18,113 BTC, worth roughly $1.85 billion. The holdings has been purchased at an average price of $101,911. The move is part of the company’s ongoing strategy to build a strong Bitcoin reserve, showing its confidence in the cryptocurrency’s long-term value. With every purchase, Metaplanet cements its place among the biggest corporate Bitcoin holders, riding the momentum as more institutions join the crypto game.

Jack Dorsey’s Block Fuels Bitcoin Growth Across Payments, Apps, and Self-Custody

Jack Dorsey’s Block Inc. is weaving Bitcoin into the fabric of everyday transactions. The company, which holds 8,584 BTC at an average price of $30,405, is driving adoption through its three key arms—Square, Cash App, and Bitkey. Square empowers U.S. merchants to accept Bitcoin payments, while Cash App integrates the Lightning Network and posted $10B in BTC revenue in 2024. Bitkey brings secure, user-friendly self-custody hardware to the masses. Together, these initiatives position Block as a powerful bridge between the worlds of traditional finance and the decentralized future of money.

Terraform Labs Co-Founder Do Kwon to Plead Guilty

Do Kwon, the co-founder of Terraform Labs, is expected to plead guilty in a hearing on Tuesday in connection with the $40 billion collapse of the algorithmic stablecoin TerraUSD. The 2022 crash triggered a massive ripple effect across the crypto industry, wiping out billions in value and eroding investor trust globally. Kwon’s plea could mark a turning point in one of crypto’s most high-profile legal cases, potentially paving the way for further accountability within the space.

Trump Media Files Amended Registration for Truth Social Bitcoin ETF

Trump Media has filed an amended registration statement with the SEC for its Truth Social Bitcoin ETF. The tool will be custodied and managed by Crypto.com. The ETF aims to simplify Bitcoin investing for traditional investors once it lists on NYSE Arca. By combining custodial management of Bitcoin storage, trading, and liquidity, this move could enhance market trust and boost liquidity. The Truth Social Bitcoin ETF represents a key step toward bridging traditional finance and the crypto market, potentially increasing Bitcoin’s adoption as a mainstream financial asset.

SharpLink Raises $400M, Ethereum Holdings to Top $3 Billion

SharpLink just secured $400 million through a direct offering with five major global investors. Along with an unused $200 million ATM facility and nearly 600,000 ETH already in its wallet, SharpLink’s Ethereum treasury is set to exceed $3 billion. This big move shows growing trust from institutions and highlights SharpLink’s commitment to building a strong future in the crypto world.