Financial News

Four UK nationals have been sentenced for fraudulently obtaining and laundering bitcoin and other cryptocurrency worth tens of millions of pounds from an Australia-based cryptocurrency exchange.

Policymakers and business executives were quick to draw a distinction between distributed ledgers and cryptocurrencies at #WEF23.

The company provided additional details on Tuesday, saying it had recovered $1.7 billion in cash, $3.5 billion in liquid cryptocurrency and $300 million in liquid securities.

The surge in crypto mining stocks came as a relief for the industry after a crippling last year, where in public crypto miners incurred $4 billion in liabilities.

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Bitcoin is on the charge in 2023, dragging the crypto market off the floor and electrifying bonk, a new meme coin.

Few crypto tokens have benefited more than bonk, which was launched at the end of December on the Solana blockchain and had rocketed 5,000% by early January. It has since fallen back, though remains up 910% since the start of the year.

The Canadian miner expects the machines to bring 110 to 130 terrash/second of computing power each.