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๐ŸŒ™ Bitfarms Shares Surge 20% on Earnings

Bitcoin miner Bitfarms shares surge 20% on Q2 earnings, highlighting increased revenue and operational efficiency.

Author

Mike Gavela
August 08, 2024

Crypto Roundup - August 8

Bitcoin miner Bitfarms saw its shares surge by 20% following a strong Q2 earnings report, which highlighted increased revenue and improved operational efficiency. Meanwhile, JPMorgan maintains a cautious stance on Bitcoin, noting that most positive catalysts, such as institutional adoption and regulatory developments, are already reflected in the current price, leading to limited upside potential. In regulatory news, Ripple's CEO termed the $125 million fine in their SEC case as a victory, emphasizing that the settlement provides clarity and allows Ripple to continue its operations without further legal uncertainties.

Top Stories:

  • Bitcoin miner Bitfarms shares surge 20% on Q2 earnings, highlighting increased revenue and operational efficiency.

  • JPMorgan remains cautious on Bitcoin, citing priced-in catalysts such as institutional adoption and regulatory developments.

  • Ripple CEO calls $125M fine in SEC case a victory, emphasizing clarity and continued operations.

TOP STORIES

Bitcoin miner Bitfarms' stock surges 20% on narrower-than-expected Q2 loss

The miner added 111 BTC to its treasury in July for a total of 1,016 BTC held in treasury, representing a total value of $67 million.

www.theblock.co/post/310307/bitcoin-miner-bitfarms-shares-surge-20-on-q2-earnings

JPMorgan Remains Cautious on Bitcoin as Positive Catalysts Mostly Priced-In

Retail investors seems to have played large role in recent crypto selloff that saw sharpest correction since FTX, the bank said.

www.coindesk.com/business/2024/08/08/jpmorgan-remains-cautious-on-bitcoin-as-positive-catalysts-mostly-priced-in

Ripple just got fined $125m, but its CEO still calls it a โ€˜victoryโ€™ against the SEC for one reason

A federal judge fines Ripple for sales of the XRP token to institutional investors.

www.dlnews.com/articles/regulation/why-ripple-ceo-calls-usd125m-fine-in-sec-case-a-victory

FUNDRAISING

OTHER HEADLINES

FTX, Alameda Ordered to Pay $12.7B to Creditors by U.S. Judge

The order doesn't include civil penalties but bans FTX and its sister concern, Alameda, formerly a heavyweight crypto market maker, from trading digital assets and acting as intermediaries in the market.

www.coindesk.com/policy/2024/08/08/ftx-alameda-ordered-to-pay-127b-to-creditors-by-us-judge

Industry execs discussed crypto policy with White House officials: Report

White House staff, US lawmakers and crypto executives reportedly discussed digital asset policy in an Aug. 8 video call.

cointelegraph.com/news/crypto-industry-policy-white-house-roundtable

Wrapped USDT Lands On Lightning Network To Compete With Tron and Ethereum - "The Defiant"

Speed, the company behind Speed Wallet, is joining the $165 billion stablecoin sector by launching a wrapped version of USDT on Bitcoinโ€™s Layer 2, Lightning Network.

thedefiant.io/news/blockchains/wrapped-usdt-lands-on-lightning-network-to-compete-with-tron-and-ethereum

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