2023-06-15

🎁 Dorsey Dishes Out $5M Bitcoin Gift!

June 15, 2023

Salut DailyCoiners,

Why do Bitcoin investors want a Lambo?

Because they know Ferarri is owned by Fiat 🤣🤣

Anyway, let’s get cracking!

🛰️ Boosting Bitcoin Brilliance
☁️ Mining Clouds Gather
💼SBF Trial Unfolds

🎁 Dorsey's Gift to Bitcoin: A Hefty $5M Donation to Brink

Through his Start Small fund, Jack Dorsey, Block CEO, is bolstering Bitcoin-focused nonprofit, Brink, with a generous $5 million donation.

According to a tweet from Brink on June 14, this financial windfall isn't arriving all at once; rather, it's more of a trust fund, with $1 million to be donated each year over the next five years. Where do I get one of those? 🤣Brink, which sprung onto the scene in 2020, champions open-source Bitcoin developers.This cash injection will help boost their mission, and it isn't the first; digital assets firm Nexo has also previously offered its support. 💰In the era of the digital gold rush, this move by Dorsey further solidifies his commitment to Bitcoin and its dedicated developers.Nurture the saplings, and they will grow!

Decoding Kraken Fees: What You Need to Know

Kraken's fees for using Instant Buy are comprised of a shown fee and, where applicable, a spread included in the asset's price.

Unlike the displayed fee, the spread is not static but rather calculated before each transaction's execution.

It may vary even for similar transactions, as multiple factors influence it.

These include the transaction size, asset type, payment method, and current market conditions.

Understanding these variables can help users navigate Kraken's fees more effectively and optimize their digital asset transactions.

☁️ Binance Ventures into Cloud Mining Amidst Legal Turmoil

As legal clouds gather over Binance.US due to SEC scrutiny, its global counterpart, Binance.com, has announced a new venture into cloud mining services for Bitcoin.

The SEC's aggressive motion was based on allegations of Binance.US mingling customer funds and transferring them offshore.

Users lacking the necessary mining equipment can subscribe to Binance's services and buy the needed computational power, or hashrate, to validate Bitcoin transactions. Each Terahash per second (Th/s) is priced at $10.73, split into electricity costs and hashrate. Each TH/s could yield around 0.0004338 BTC over six months. However, amidst the excitement, there's a catch. 🎣Binance.com's new service isn't accessible to US-based investors due to ongoing legal issues with the SEC, which Binance.US is vehemently battling.🛡️Not surprising, really!

🚨 FTX Co-Founder to Stand Trial for Original Charges

Sam Bankman-Fried, the co-founder of FTX, is set to face the initial eight charges laid against him by US prosecutors.

Despite an attempt to contest additional charges in the Bahamas, Department of Justice (DoJ) lawyers intend to proceed with the original counts. Good! 🎉Bankman-Fried was extradited based on these charges, and the Bahamas Supreme Court has agreed that he should have the opportunity to challenge the additional allegations before their acceptance. The initial charges connected Bankman-Fried to the downfall of crypto exchange FTX, which led to an estimated $3 billion debt to creditors. His co-defendants, Caroline Ellison and Gary Wang, have already pleaded guilty to fraud charges related to the collapse.Fingers crossed for a full (jail) house! 🤞