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Bitcoin Mining Profitability Drops

Bitcoin miners have seen their revenue and profitability plummet as the cryptocurrency itself continues to fall.
Daily mining revenue fell as much as 27% in May, from $40.57 million at the beginning of the month to $29.37 million by the end of it.
Bitcoin daily mining revenue hit a peak of $80 million sometime in April 2021, but has fallen by 62% since then.

Cointelegraph

Bitcoin daily mining revenue slumped in May to eleven-month low Crypto investors are not the only ones suffering as BTC mining revenue slumps to its lowest levels since July 2021.

OpenSea’s Former Head of Product Indicted
Nathaniel Chastain, the former head of product at OpenSea has been indicted on wire fraud and money laundering charges.
Chastain was arrested on Wednesday morning in New York, and is set to face the US District Court for the Southern District of New York.
Previously at OpenSea, Chastain left after being accused of purchasing NFTs which were soon to be featured on the platform's homepage.

TheBlockCrypto

Former head of product for OpenSea indicted after insider trading scandal A court has charged former head of product at NFT platform OpenSea on wire fraud and money laundering charges after an insider trading scandal

Binance Labs fills its Warchest

Binance Labs has managed to raise $500 million in order to establish an investment fund.

The venture capital side of Binance will be using the fund to invest in projects and founders that are building in web3. This includes DeFi, NFTs, gaming, metaverse, and social projects.

Private equity firms such as DST Global Partners, Breyer Capital, Whampoa Group, and others participated in the fundraise.

Binance

Binance Labs Closes $500M Investment Fund to Boost Blockchain, Web3, and Value-Building Technologies | Binance Blog Binance Labs announces the closing of a new $500 million investment fund. The fund is supported by leading global institutional investors such as DST Global Partners, Breyer Capital, and Whampoa Group. Other major private equity funds, family offices, and corporations also subscribed to the fund as....

Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still, the experts concede that any attempt to diminish the dollar’s dominance will take time. BRICS Countries’ Dependence on the US-Dominated Global Financial System Chinese experts […]

Almost half of Germans to invest in crypto💰

The richest country in Europe is coming round to crypto. That’s according to a report by KuCoin, which shared some flattering statistics towards the future of crypto in Deutschland.

Notably, 44% of Germans are “motivated to invest in cryptocurrencies to be a part of ‘the future of finance’” while over a third or “37% of German crypto investors have been trading cryptocurrencies for over a year.”

6 best NFT token to buy and hold

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Crypto terms you need to know! ⁠
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What terms does every crypto investor need to know?🤔

And the list goes on and on…

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