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Rhodium filed for Chapter 11 with debts of up to $100M and assets of up to $500M. The debtor-in-possession financing plan is offered by Galaxy Digital. Galaxy Digital offers Rhodium a $30M loan or 500 BTC with a 9.5%-14.5% interest. Rhodium Enterprises, a Texas-based Bitcoin mining firm, has recently garnered significant attention following its Chapter 11 bankruptcy filing on August 24, 2024. With liabilities ranging between $50 million and $100 million, and assets valued between $100 million and $500 million, Rhodium’s financial struggles have highlighted the growing challenges within the cryptocurrency mining sector. Riot Platforms claims Rhodium owes it $26M At the heart of Rhodium’s financial distress is its strained relationship with its landlord and power supplier, Whinstone. This tension contributed to Rhodium defaulting on a $54 million loan in July, shortly before the company raised $78 million in additional lending. The strain has culminated in

The number of countries wanting to join the BRICS alliance and support the de-dollarization agenda is rapidly growing in 2024. There’s a new country expressing interest in joining the bloc almost every two weeks in the last three months. The development indicates that the bloc’s de-dollarization initiative is lucrative and other countries want to free their economies from the grasp of the US dollar. Also Read: BRICS: India To Accept Local Currencies For Trade, Sideline US Dollar Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The move will help developing nations push local currencies ahead and strengthen their native economies. The US dollar will face a deficit if it loses in the global supply and demand mechanism in the markets due to de-dollarization. Also Read: Former Russian PM Talks About BRICS Currency BRICS: DRS Congo Shows Interest To Join the Bloc & Advance De-Dollarization Source: iStockphoto Russian Ambassador to the

In what can be considered the darker side of trading meme cryptocurrencies, a trader has lost a significant amount of money by betting on a token that had not proven itself in the market. Specifically, the trader recently saw a massive $1 million investment plummet to just $9,000 within an hour, according to data shared by Lookonchain on August 29. According to the Analysis , the trader created a new wallet and used 7,156 SOL (valued at $1.03 million at the time) to purchase a meme coin named MBAPPE. This transaction, completed in a single move, quickly turned sour as the value of the meme coin nosedived, leaving the trader with a balance of only $9,200. Picks for you XRP ‘gate will swing wide open’ to $27 after hitting this level 42 mins ago

The Apes price skyrocketed 60% in the last 24 hours to trade at $0.02350 as of 00:52 a.m. EST on trading volume that rose 103% to $5.5 million. This comes as the meme coin space rebounded with a 1% surge in the last 24 hours to a $41 billion market capitalization as SHIB and DOGE soared 1% in that time. Apes Price Aims For A Trend Continuance On the last day, the Ape price has been on an uptrend, as the bulls used the 0.0140 support to push the price on a tear, according to data from GeckoTerminal . The recent price movement has formed an ascending triangle pattern as the bulls aim to continue pushing the token’s price on an uptrend. APES now trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), which affirms the bullish sentiments of the price of Apes. Moreover, the Relative Strength Index (RSI) seems to be rebounding from the 50-midline level, which shows that investors are now buying the asset. If the buying peaks at this point, the bulls may push the p

A ‘periphery’ contract of the decentralized finance (DeFi) sector’s biggest lending platform, Aave, was hacked for a total of $56,000 earlier today. Aave, which contains assets worth over $11 billion according to data from DeFiLlama, has made clear that the attack, which began, around 04:30 UTC placed no user funds at risk. Founder Stani Kulechov and governance delegate Marc Zeller both took to X (formerly Twitter) to reassure users. A periphery contract of @AAVE is hacked due to an arbitrary call/logic error. Most user funds are SAFU pic.twitter.com/WXa0w64n0c — Chaofan Shou (@shoucccc) August 28, 2024 Read more: Compound DAO asleep at the wheel as $25M governance ‘attack’ passes Fuzzland’s Chaofan Shou identified the cause of the hack, pointing to transactions on four networks: Ethereum, Aribtrum, Polygon, and Optimism. He estimated the total funds at risk to be around $70,000 . According to Analysis by security firm QuillAudits, the losses to attacks on the above networks

The Bitcoin price dropped 5% in the last 24 hours to trade at $59,427 as of 00:49 a.m. EST on trading volume that rose 46% to $41.6 billion. The plunge has resulted in the liquidation of Long traders, recording $287.03 million, as the BTC market registered a total of $322.03 million, according to data from Coinglass. Bitcoin Price Could Still Rally The Bitcoin price has been on a downtrend in the last two days, as BTC went back to trading within a sideways pattern. According to data from GeckoTerminal, BTC price bulls are currently struggling to push the price of Bitcoin above the $66,000 resistance zone. BTC now trades below both the 50-day and 200-day SMA, affirming the current price downtrend. Moreover, the Relative Strength Index (RSI) is trading below the 30-oversold level, which shows that BTC is currently under intense selling pressure and undervalued. The asset being undervalued opens up positions for the bulls to buy more. In this scenario, the price of Bitcoin may reb

The former Prime Minister of Russia Sergey Stepashin who briefly served in 1999 opened up about the prospects of a BRICS currency. He commended the de-dollarization initiative in a historical move from the alliance to cut ties with the US dollar. The initiative is briefly successful as both China and Russia have settled trade in local currencies with a handful of developing countries. Even India initiated oil deals with its BRICS counterparts Russia and the UAE paying native currencies for settlements. Also Read: BRICS: Russia To Officially Use Cryptocurrency For Trade Settlements There have been reports of the BRICS alliance planning to launch a new currency to take on the US dollar. If the currency is launched and gains the trust of developing countries, the US dollar will be in jeopardy. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: BRICS: Payments in Chinese Yuan Surpasses the US Dollar by 2.5% BRICS Currency: Russia

Bitcoin Dogs (0DOG) drops 49% from debut, but strong trading volume shows investor interest. Integration with Bitcoin blockchain and gaming features supports long-term growth. Controlled token release and upcoming developments may drive future price recovery. As the broader cryptocurrency market experiences a downturn, Bitcoin Dogs (0DOG) is not immune to the pullback. Despite an initial surge in price following its debut, 0DOG has seen its value drop by nearly 50%. However, beneath the surface of this decline lies a narrative of resilience and potential, driven by strong trading volumes and a series of upcoming developments that could reignite investor interest. Market pullback and 0DOG price drop The global cryptocurrency market has recently witnessed a decrease in overall value, with the total market cap now standing at $2.21 trillion, marking a 1.27% decrease over the last day. Major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Binance Coi

The price of Toncoin (TON), the token of The Open Network, fell off a cliff in the crypto market on August 24 as the billionaire founder and CEO of the popular messaging app Telegram was arrested in France at the Bourget airport outside of Paris. Though the arrest of Pavel Durov was justified over Telegram’s alleged failure to properly moderate its platform and prevent illegal activities, the action of the French police drew significant criticism, and significant attention from the crypto community. Along with the effects it had on TON, the arrest piqued the interest of many in the space as Yulia Vavilova, an influencer considered Durov’s ‘crypto coach’ and girlfriend, was also picked up. Picks for you Adam Kinzinger’s net worth revealed: How rich is the former US Representative from Illinois? 1 hour ago

The Detention of Pavel Durov: What We Know So Far Pavel Durov , the Founder and CEO of Telegram , was detained by French authorities on 24 August at Le Bourget Airport, just outside Paris. Reports from French media suggest that the detention is linked to an investigation into Telegram’s alleged failure to moderate content on its platform, with potential charges related to fraud, drug trafficking, and organised crime. However, there has been no official confirmation regarding the charges, if any, against Durov. The rally in support of Pavel Durov, who was detained in Paris, is ongoing in Moscow. Protesters are bringing paper airplanes to the French embassy. pic.twitter.com/quv2jxEapc — Russian Market (@runews) August 25, 2024 The Russian embassy has reportedly sought clarification from French authorities but has received little cooperation. A formal statement from French officials is expected on 26 August, which may shed more light on the situation. Implicat

If you’re a fan of Shiba Inu, you might find yourself drawn to a new cryptocurrency that’s quickly gaining traction—Shiba Shootout. This emerging crypto project recently hit major milestones, with its presale reaching $1 million. Unlike typical meme coins, Shiba Shootout offers more than just hype; it Features a playable game and a developing ecosystem. A simplified version of the game is now accessible on Google Play and the App Store, providing early backers with the opportunity to explore its concept. In its mobile game, players dive into gunfights, form teams, and explore the Wild West-themed universe of Shiba Shootout. As the market starts to rebound, many experts are closely examining Shiba Shootout, expecting significant potential for returns. Merging Shiba Inu Memes with Wild West Adventure and Play-to-Earn Gameplay While capitalizing on the buzz surrounding Shiba Inu memes, Shiba Shootout also draws inspiration from the adventurous spirit of the crypto frontier. Within it

When FTX supremo Sam Bankman-Fried was sentenced to 25 years behind bars back in March, he joined a long list of crypto figureheads who have been handed stiff punishments for being caught with either their fingers in the cash register or using blockchain technology to facilitate equally unscrupulous deeds. Also on the list, there are dark web administrators (Silk Road mastermind Ross Ulbricht and Dream Market’s Gal Vallerius), price manipulators (Mango Markets’ Avraham Eisenberg), and insider traders (NFT swindler Nathaniel Chastain). And, as you’d expect from some of the most powerful players in a fledgling industry that’s been referred to as both ‘the future of finance’ and the ‘Wild West,’ the amounts they’ve been convicted of stealing, misappropriating, or earning are far from insignificant. In some cases, we’re talking tens of billions . As such, regulators, governments, and law enforcement — particularly those in the US — have to be seen to be doing something. And, if you ca

A meme coin boom on the Tron network’s SunPump is minting millionaires, with the Justin Sun-backed platform generating over $1 million in revenue in less than two weeks and outpacing Solana’s Pump.fun in activity and revenue over the past 24 hours.” More than 7,500 meme coins were launched on SunPump in just the last day, generating $585K in revenue, according to Dune Analytics  data. By comparison, Pump.fun saw 6,700 tokens created, earning $366K during the same period. Traders Score Big Trading Meme Coins On Tron Traders are reaping massive profits from these meme coins on SunPump, with some early buyers turning modest investments into millions almost overnight. On-chain analytics platform Arkham Intelligence revealed in an Aug. 20 X post that one trader with the address “TT4S5,” who was one of the earliest buyers of SUNDOG, achieved a profit of $20.60 million in 6 days. This trader turned $1.69K of SUNDOG into $20 MILLION in 6 days TT4S5 was one of the earliest SUNDOG buyer

Investors who entered Bitcoin (BTC) more than a decade ago could have made millions if they had stayed invested for the long term. One such investor revealed in 2013 that he purchased $50,000 worth of BTC and plans to hold it for ten years. The revelation was made on a Reddit thread 11 years ago, in which the investor confirmed that he put $50K in BTC and is both nervous and hopeful about the future. Also Read: Tron Rise Continues as TRX Volume Skyrockets 200% Bitcoin: $50,000 To $150 Million in 11 Years Bitcoin Investment in 2013 Source: Reddit Bitcoin traded between $20 and $800 in 2013, and the investor could accumulate anywhere between these numbers. Even if the investor picked it up at its lowest, at $20, it would be an accumulation of 2,500 BTC. The 10-year investment plan could have paid off massively, generating life-changing wealth for himself and his children. Also Read: U.S. Dollar Falls To New Lows as Local Currencies Rise Potential Returns on Investment If the investor had

El Salvador reinforces its commitment to Bitcoin by rolling out an extensive training programme for its civil servants. The initiative, spearheaded by the National Bitcoin Office (ONBTC) , aims to educate 80,000 government employees on Bitcoin’s strategic management and its implications for public policy. EL SALVADOR CONTINUES TO TRAILBLAZE! El Salvador will soon begin providing #Bitcoin instruction and certification to 80,000 public servants. https://t.co/gG9tMPvnPa — The Bitcoin Office (@bitcoinofficesv) August 20, 2024 A Comprehensive Training Approach The newly introduced “Certification in Public Administration 1” programme encompasses 160 hours of virtual, asynchronous training. It is divided into seven modules that cover a range of topics, including Bitcoin legislation, management strategies, and its role as legal tender. According to ONBTC Director Stacy Herbert , this programme is designed to elevate the country’s governance and public administration