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Key Takeaways: Ethiopia has stopped issuing new electricity supply permits to Bitcoin mining firms because it cannot meet demand. It comes as 57 million Ethiopians still lack access to electricity, raising concerns over national priorities. Ethiopia’s state power company reported $220 million in Bitcoin mining revenue over the past year. Ethiopia has stopped issuing new…

Electric vehicle startup Faraday Future is pivoting toward digital assets with plans to build a $30 million crypto treasury and explore tokenized vehicle sales. Key Takeaways: Faraday Future will launch a $30M crypto treasury and aims to expand holdings up to $1B. The EV firm plans tokenized car sales through its upcoming “EAI Vehicle Chain.”…

North Korea’s infamous Lazarus Group has been linked to the $23 million crypto heist that brought down British startup Lykke. Lykke, a crypto trading platform incorporated in the UK, lost nearly $23 million last year due to a security breach. Investigations at the time revealed that hackers stole 158 BTC and 2,161 ETH. The hacker…

The community behind Qubic, an AI-focused blockchain project, has voted to target Dogecoin (DOGE) with its next 51% attack, just days after successfully taking majority control of the Monero (XMR) network. Key Takeaways: Qubic’s community voted to target Dogecoin next after claiming majority control of Monero’s network. The Monero takeover forced Kraken to suspend deposits,…

Japan is preparing to greenlight its first yen-denominated stablecoin this autumn, marking a big step in the country’s approach to digital assets and cross-border payments, Nikkei reported Monday. The Financial Services Agency is expected to approve issuance of the stablecoin as early as October, with the token aimed at uses ranging from international remittances to…

A self-styled crypto influencer has been sentenced to one year and one day in prison for orchestrating a large-scale cryptojacking scheme that defrauded major cloud computing providers of more than $3.5 million in resources. Key Takeaways: Crypto influencer Charles O. Parks III was sentenced to one year and a day for a $3.5M cloud cryptojacking…

India’s top tax authority has raised several questions to local crypto players whether India needs a new digital assets law. The Central Board of Direct Taxes (CBDT) has also inquired whether the 1% tax-deducted-at-source (TDS) on every sale is excessive. Per a report by The Economic Times, the tax body has requested that crypto platforms…

Metaplanet has added another 775 Bitcoin to its reserves, lifting its total holdings to 18,888 BTC. A Monday filing showed Metaplanet’s Bitcoin stash has climbed to about $2.18b, based on the prevailing exchange rate. This latest purchase extends a rapid run of acquisitions that have cemented the company’s place as Japan’s most prominent corporate Bitcoin…

The crypto market showed a bearish signal today, with Bitcoin (BTC) dropping 2.08% to test the $115K mark and XRP slipping below $3. Ethereum (ETH) also dipped 3.5% to under $4,400. Most sectors followed the downward trend, but DeFi stood out with a 1.81% gain, led by Chainlink (LINK) surging 14.32% on news of a…

Jeju City, in the South Korean island province of Jeju, has completed a crypto-themed investigation of almost 3,000 residents with unpaid tax bills, seizing Bitcoin (BTC) and other coins from dozens of individuals. The South Korean media outlet Newsis reported that tax delinquents in the city have been “lining their pockets with cryptoassets.” Jeju Crypto…