Tag - bitcoin
17Jul

Power theft linked to crypto mining costs RM4.8bil in losses, says deputy minister

ALOR SETAR: Electricity theft linked to cryptocurrency mining activities has caused RM4.8bil in losses from 2018 to June this year, said Deputy Energy Transition and Water Transformation Minister. Akmal Nasrullah Mohd Nasir said the situation is alarming and calls for continuous enforcement to prevent further losses. "Since 2018, electricity theft involving cryptocurrency mining has cost RM4.8 billion. "We recorded 2,399 cases from 2023...

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11Jul

Man fined RM120,000 for crypto mining linked power theft, wife fails to turn up for trial

MIRI: A 49-year-old man has been fined RM120,000 by the Sessions Court for electricity theft linked to cryptocurrency mining. The accused Hii King Lee on Friday (July 11) pleaded guilty to two separate charges under Section 33(5) of the Electricity Ordinance (Chapter 50). The first offence involved the dishonest abstraction of electricity at a row of commercial...

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16Dec

El Salvador and Bhutan: Betting on Bitcoin’s future | Opinion

Two small nations, El Salvador and Bhutan, have made bold moves into the Bitcoin btc1.85%Bitcoin arena, which showcase how cryptocurrency can redefine economic strategies for countries with ambitious leadership and limited resources. Bhutan, through its sovereign investment arm, has amassed Bitcoin holdings worth over $1 billion—more than one-third of its GDP—while El Salvador’s reserves stand at approximately 6,150 Bitcoin, valued at over $550...

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16Dec

Australian wealth manager AMP invests $27m in Bitcoin as first major superannuation fund to embrace crypto

AMP has made a $27 million investment in Bitcoin, becoming the first major superannuation fund in Australia to enter the crypto market. AMP Wealth Management, one of Australia‘s largest wealth managers with billions in assets under management, has invested $27 million in Bitcoin btc1.85%Bitcoin, becoming the first major superannuation fund in the country to do so, the Australian...

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16Dec

Crypto scammers ordered to pay $5m for IcomTech Ponzi

According to a Dec. 11 statement, IcomTech founder David Carmona, along with four promoters of the scheme, namely Juan Arellano Parra, Moses Valdez, and David Brend, for violations of the Commodity Exchange Act and Commodity Futures Trading Commission regulations. The court ordered them to jointly pay over $1 million in restitution to defrauded customers and imposed a...

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07Dec

2 reasons MSTR stock fell as Bitcoin price rallied

MicroStrategy stock price has dropped 27% from its highest level this year, despite Bitcoin reaching a record high. MSTR shares were trading at $390 on Dec. 6, continuing a decline that began on Nov. 21, when the stock peaked at $541. Even with this pullback, MicroStrategy remains one of the best-performing stocks this year, up over...

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07Dec

‘Hardly money’: Former NY Fed chief blasts Trump’s Bitcoin reserve

Bill Dudley, the former chief of the New York Fed, warned against holding Bitcoin as a reserve and urged a focus on regulation. Dudley criticized a proposed federal Bitcoin btc1.77%Bitcoin reserve championed by Donald Trump during his presidential campaign. In a Bloomberg op-ed, Dudley argued that the plan would fail to benefit most Americans and could destabilize the economy. Dudley acknowledged Bitcoin’s appeal as...

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07Dec

As Bitcoin tops $100k analysts prepare for volatility and correction fears

Bitcoin has finally crossed the $100,000 mark, and while that’s big news for the industry, some analysts are sounding the alarm about what comes next. Bitcoin btc1.77%Bitcoin has long been touted by its die-hard supporters as the crypto destined to hit $100,000 — and eventually even $1 million. Now, with Bitcoin finally surpassing the $100,000 mark, the question...

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07Dec

Bitcoin price can hit $200k in 2025, but crossing $122k will be crucial

Bitcoin price has performed well this week, crossing the important milestone of $100,000 and peaking at $104,000. Bitcoin btc1.77%Bitcoin surge occured as data indicated continued investor appetite for the digital currency, even at a six-digit price. Notably, data from SoSoValue shows that spot Bitcoin exchange-traded funds saw a net inflow of over $33 billion. These funds now hold a record $109 billion...

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07Dec

Czech Republic exempts three-year old Bitcoin from capital tax gains

The Czech Republic Parliament reportedly passed a law that would exempt Bitcoin held for more than three years from capital tax gains, placing it on the same level as stocks. According to a video by Braiins mining’s Chief of Propaganda, Kristian Csepcsar, the Czech Republic Parliament has unanimously agreed to exempt capital gains tax on Bitcoin btc1.77%Bitcoin held for more...

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