Bitcoin Miner Greenidge Generation Deploys 2,400 Miners at New Mississippi Site

➕ Greenidge Generation Holdings Inc., once one of the largest public Bitcoin miners in the US, has launched a new site in Mississippi, with 2,400 BTC mining capabilities. The massive mining establishment, which spans across 12-ache, currently utilizes 8.5 MW (megawatt) power, according to the company’s official release. Besides, Greenidge is also looking to obtain at least 25 MW of additional power in the next 12 months.

💵 Further, the mining rig uses Greenidge Pod X, which boasts using optimal temperature with better longevity, a capacity of 792 miners and reduced noise complaints. Additionally, the company wrote on X that these pods are National Electrical Code (NEC)-compliant.

🔼 “Utilizing the NEC-compliant Greenidge Pod X helped reduce buildout costs and increase efficiency of the new mining site.”Greenidge said that it will make use of the infrastructure solution within the industry to foster its growth.The Bitcoin mining site was inaugurated on July 1, the announcement read. The company is also planning to deploy its first shipment of Antminer S21 Pro Bitcoin miner in the coming weeks.

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MAGA Memecoin (TRUMP) Spikes 52% Following Donald Trump Assassination Attempt

🇺🇸 The largest Donald Trump-themed memecoin, MAGA (TRUMP), experienced a price surge of over 50% following an assassination attempt on the former United States president while he was speaking at a rally in Butler, Pennsylvania.

💵 The Ethereum-based memecoin saw its value soar from $6.31 to $10.36 immediately after the incident, causing its total market capitalization to skyrocket from $293 million to $469 million in less than 45 minutes. The news of the assassination attempt also had an impact on other Trump-themed meme coins.

🪙 Tremp (TREMP), a memecoin based on the Solana blockchain, surged by more than 63% within an hour of the incident. Another memecoin called MAGA Hat (MAGA) briefly spiked by 21% during the same timeframe.

RWA Platform Jade City to Launch Late 2024

✔️ Jade City, a real-world asset (RWA) platform, is planning to launch its token by the end of the year, with the firm aiming to change the way precious commodities are accessed and traded. There are two business segments, Jade Vault and Jade City, the firm’s CEO William Ralston Saul told CryptoNews. The jade mining and tokenization businesses have already made significant strides with fund raising intiatives and in the world of digital finance and precious minerals, said Ralston Saul.

🟢 So far, Jade Vault, the jadeite storage and trading company has raised $2.1 million to kickstart the production of a jade mine in Kazakhstan. This investment is a critical step towards tapping into one of the world’s most coveted and historically significant gemstones.

➕ Simultaneously, Jade City is planning to secure $1.8 million in a private funding round. So far, Jade City has raised $300,000 bringing the total capital raised for the Jade business to $2.4 million, Ralston Saul told CryptoNews. Jade City and the Vault side of the businesess were founded by James Bowater and are led by Ralston Saul. The funding round in Jade Vault was led by Consensus Capital the firm which backed Casper Labs, said Bowater.

Breaking: $234 Million Drained From Indian Exchange WazirX, Withdrawals Suspended

🤡 One of the leading Indian crypto exchanges WazirX has been drained out of $234 million in a series of suspicious transactions today. WazirX confirmed the security breach and announced the suspension of withdrawals on the exchange temporarily.Earlier, blockchain security platform Cyvers Alerts reported that their system detected multiple suspicious transactions involving WazirX’s Safe Multisig wallet on the Ethereum network.

😮 A total of $234.9M of funds have been moved to a new address. Each transaction’s caller is funded by Tornado Cash, it added. The suspicious wallet “0x04b2” has already dumped $7.6 million worth of PEPE and swapped GALA and USDT to ETH.

💸 According to Lookonchain data, Shiba Inu (SHIB) tokens topped the list of withdrawn funds, with over $100 million taken out. This was followed by $52 million in Ether (ETH), $11 million in Matic (MATIC), and $6 million in Pepe (PEPE). The hacker has already started dumping these assets.

Breakthrough in Zero Energy Storage May Pave the Way for Eternal Blockchains

🔜 Recent advancements in long-term storage have opened up the possibility of creating digital ledgers that can store data for millions of years without the need for power. Referred to as “immortal blockchains,” these decentralized systems could revolutionize data storage and ensure the preservation of valuable information for future generations.

🎙 At its core, blockchain technology operates on the principle that decentralized ledgers offer enhanced data security compared to centralized servers. In the event of a local power outage or server failure, decentralized blockchains remain unaffected as long as operational nodes exist elsewhere.

🗣️ While modern computer systems typically rely on battery backups to ensure data retention during temporary power outages, future threats to both decentralized and centralized data storage systems loom on the horizon. One such theoretical threat is a global blackout, where a natural disaster or an electromagnetic pulse could render electronic systems non-functional on a global scale.

Phoenix Group Unveils 25MW Crypto Mining Facility in South Carolina

⚡️ Abu Dhabi-listed Phoenix Group has launched a new 25-megawatt cryptocurrency mining facility in Willamette, South Carolina. The new mining operation boosts the company’s global mining capacity to 18 exahash, according to a recent report from Zawya.

💀 “The Willamette site enables us to deploy upgrades to our proprietary mining technology and optimize miner allocation for greater efficiency,” Seyed Mohammad Alizadehfard (Bijan), Co-Founder and Group CEO of Phoenix Group, said.

🌐 The launch of the Willamette site marks Phoenix Group’s expansion to ten mining facilities across the US, Canada, CIS, and the UAE. Each facility is dedicated to one of four core verticals, including mining, hosting, trading, and investments.

India Tracks Crypto Transactions on Darknet to Combat Drug Trafficking

⚡️ India’s Narcotics Control Bureau (NCB) has intensified its surveillance of cryptocurrency payments on the darknet in a bid to curb drug trafficking within its borders. Nityanand Rai, the Minister of State for Home Affairs, revealed the government’s strategy to tackle the import and inter-state movement of narcotic drugs was disclosed during a recent Parliamentary discussion.

🌟 NCB data indicates a noticeable uptick in the utilization of cryptocurrencies in drug-related crimes over the past five years, particularly in cases involving the darknet. During the session, Rai outlined a plan comprising 13 actionable points to address the escalating concerns of drug trafficking and narco-terrorism in the country, with a specific focus on combating the misuse of digital currencies.

❔ “A Special Task Force on Darknet and Cryptocurrency has been constituted to monitor suspicious transactions related to drugs on the darknet,” he said. In tandem with these efforts, the NCB has initiated training programs centered on digital forensics, darknet activities, and cryptocurrency to enhance its investigative capabilities in combating drug-related crimes more effectively.

Republican Senator Roger Marshall Backs Out of Controversial Crypto Bill

🇺🇸 Republican Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act (DAAMLA), an anti-crypto bill he co-authored with Democrat Senator Elizabeth Warren. Marshall’s withdrawal, announced on July 24, leaves the bill with 18 remaining supporters, as documented in the Congressional directory.

💬 Senator Warren, a vocal critic of the cryptocurrency industry, argued that digital assets were being exploited by “rogue nations, oligarchs, drug lords, and human traffickers” to launder vast sums of illicit funds. The bill sought to integrate the crypto industry into existing Anti-Money Laundering (AML) and counter-terrorism financing frameworks, categorizing entities like decentralized wallet providers, validators, and miners as financial institutions subject to the Bank Secrecy Act.

📲 The reintroduction of the DAAMLA bill to the Senate in July 2023 further intensified the controversy. Crypto advocates argue that the legislation overstates the role of digital assets in illegal activities and threatens to stifle the burgeoning U.S. crypto sector.

UK-Based Coinbase Hacker Sentenced to 42 Months in Jail

👨‍⚖️ In a landmark ruling, the Norwich Crown Court has handed down a 42-month prison sentence to 24-year-old Elliott Gunton, the notorious hacker behind the Coinbase breach. This young cybercriminal made off with a staggering sum of over $900,000 by targeting more than 500 Coinbase accounts.

🌐 Using a cunning ploy, Gunton and his cohorts set up a fake website, tricking unsuspecting users into revealing their login credentials. But their deviousness didn't stop there – they even managed to intercept phone calls by spinning sob stories to telecom companies.

📉 This isn't Gunton's first brush with the law. He has a track record that includes stealing data from TalkTalk and compromising Instagram accounts, leaving a trail of financial losses in his wake.

⚖️ Judge Alice Robinson didn't mince words, describing Gunton's actions as "highly sophisticated offending" driven by a desire for cold, hard cash rather than mere hacking thrills.

Terra Blockchain Hacked: $5.28M Lost in Security Breach

💥 The Terra blockchain has fallen victim to a security breach, resulting in the unauthorized access and theft of millions of tokens.

🔓 The exploit targeted a vulnerability in the IBC hooks module, a vital component for cross-chain contract calls and token movements, according to crypto researcher Rarma.

💸 The breach led to the illicit transfer of assets, including USDC stablecoin and Astroport tokens, with an estimated loss of around $5.28 million.

🚨 In response, Terra has swiftly enacted emergency measures, deploying a patch to address the exploit and bolster its defenses against future attacks.

🛡 While the vulnerability had been patched across the broader Cosmos ecosystem, a subsequent upgrade on Terra inadvertently left it exposed once again.

🌐 Terra, which emerged from the ashes of a financial collapse in 2022, is now back on track with block production after this latest setback.

SEC Shares Compensation Claim Info For Terraform Fraud Victims

💰 The SEC is stepping up to help victims of the Terraform Labs collapse seek justice. If you lost out in the crypto chaos caused by Do Kwon, it's time to take action.

📝 The updated guidance from the SEC is a lifeline for those seeking answers and compensation. Don't miss out on your chance to be heard in Terraform's bankruptcy case.

💼 Terraform Labs may have agreed to a hefty settlement of $4.5 billion, but it's not just about the money. This is a message to all crypto players that fraud won't go unpunished.

🏦 While the SEC had its sights set on an even bigger penalty, Kwon's proposed slap on the wrist with a $1 million fine didn't cut it. He'll have to dig deeper into his pockets.

🌍 Kwon's global escapades came to an end in Montenegro, where he faced charges of document forgery. Now, the extradition battle begins as the US and South Korea vie for their turn at justice.

FBI Warns: Crypto Exchange Scammers on the Prowl!

📞 The FBI is sounding the alarm on a new wave of crypto scam artists who are posing as employees of legitimate cryptocurrency exchanges. Their goal? To swindle unsuspecting victims out of their hard-earned funds.

🔒 The con starts with an unsolicited call or message, with the fraudster claiming that the victim's account is under threat. They then cunningly convince them to hand over their login details, click on suspicious links, or even provide personal identification information.

💰 Armed with this data, these digital tricksters can swiftly empty victims' accounts, leaving them high and dry.

⚠️ The FBI's advice? Don't take the bait! Avoid clicking links, downloading attachments, or answering calls from suspicious sources. And if you do pick up, don't hesitate to hang up and dial the exchange's official number to verify any issues.

Digital Asset Products See $528M in Outflows Amid US Recession Fears: CoinShares

☄️ Digital asset investment products saw outflows amounting to $528 million last week, marking the first downturn in four weeks. The exodus is believed to be a response to mounting concerns over a potential recession in the United States, compounded by geopolitical uncertainties and consequent widespread liquidations across various asset classes, CoinShares said in a recent report.

⚠️ The report noted that trading volumes in exchange-traded products (ETPs) reached $14.8 billion, constituting a lower-than-average share of the total market at 25%. After Friday’s market close, the digital asset market saw a correction that resulted in a substantial $10 billion decline in total ETP Assets under Management (AuM).

‼️ Geographically, the bulk of the outflows were concentrated in the US, with outflows totaling $531 million. Germany and Hong Kong also experienced outflows amounting to $12 million and $27 million, respectively.Conversely, Canada and Switzerland seized the opportunity presented by price weaknesses, recording inflows of $17 million and $28 million, respectively.

Japanese Firm Metaplanet Secures 1 Billlion Yen Loan to Acquire More Bitcoin

🪙 Metaplanet Inc., a publicly traded Japanese company, announced it has secured a loan of one billion Japanese yen ($6.8 million) with an annual interest rate of 0.1% to acquire more Bitcoin. The company dubbed “Asia’s MicroStrategy” due to its aggressive acquisition of Bitcoin has amassed huge amounts of Bitcoin recently. With its recent acquisition of Bitcoin, the firm is making significant waves in the financial markets.

💸 On Monday, Metaplanet said it will invest approximately 8.5 billion Japanese yen, or $58.76 million, in Bitcoin through a new stock offering. The company said plans to raise a total of 10 billion yen, or about $69.13 million, by issuing stock acquisition rights to all common shareholders.

⚠️ The decision was made during Metaplanet’s Board of Directors meeting. All common shareholders will receive the stock acquisition rights as of September 5, with the allotment effective from September 6 onward. In the company’s disclosure, Metaplanet said due to Japan’s high debt levels, persistent negative interest rates, and weakening yen as factors compelling it to acquire more Bitcoin.

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Kamala Harris And Donald Trump Tied Presidency Odds In Polymarket Bet

🇺🇸 Presumptive Democratic nominee Kamala Harris and Republican nominee Donald Trump are officially tied in a Polymarket bet predicting the 2024 U.S. presidential election winner, the prediction market’s website shows. According to a bet entitled “Presidential Election Winner 2024,” Trump and Harris are tied, with each receiving 49 percent of the vote.

📍 The remaining 2 percent of votes have gone to several notable U.S. political figures with slim odds of winning this year’s election given the fact that some are not even running. Names in this category include former first lady Hillary Clinton, Senator Elizabeth Warren (D-MA), and third-party candidate Robert F. Kennedy Jr.

🌐 According to the Wall Street Journal, Trump at times trailed Harris by an entire percentage at points on Thursday, the first time he formally has been behind the current U.S. vice president since polling on the prediction market began.But it’s not just Polymarket betting trends the former reality television has to worry about.

California’s Santa Monica Opens Bitcoin Office to Promote Usage

☀️ California’s Santa Monica is taking a step forward in crypto education by establishing a dedicated “Bitcoin Office.” The city aims to equip residents and businesses with knowledge about Bitcoin’s potential to shape the modern economy, according to a recent announcement.

💸 This office will actively seek partnerships within the crypto industry to boost Santa Monica’s economic recovery. It will also look to create new job opportunities and establish strategic collaborations. In this regard, the office aims to build a strong, future-oriented economy that benefits everyone in the community.

🔔 The governmental office said it aspires for Santa Monica to become the epicenter of Bitcoin innovation on the West Coast. “We strive to unlock new opportunities, attract investment in our community, and ensure our city thrives in the digital age,” it said.