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The company, granted a New York BitLicense in January 2023, had advertised free wallet storage on its website, but it charged fees that sometimes entirely emptied investors’ accounts, the investigation concluded. In an agreement with the state, Coin Cafe is paying back those harmed, including 340 investors in New York. Source
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But the flurry in on-chain activity is showing signs of slowing down as congestion in the Bitcoin mempool – a database of unconfirmed transactions – has eased from nearly 500,000 unconfirmed transactions to roughly 250,000 at the time of reporting. That number generally stayed under 50,000 last year. Bitcoin is
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Riot Platforms, a company that mined cryptocurrencies and was previously known as Riot Blockchain, has filed a lawsuit against Rhodium Enterprises, a bitcoin miner headquartered in Texas. It attempts to collect more than $26 million in allegedly
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Crypto mining firm Riot Platforms – formerly Riot Blockchain – is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin (BTC) miner, Rhodian Enterprises, according to its Q1 2023 report.Published on May 10, Riot's Q1 2023 financial report stated that Whinstone – a wholly owned subsidiary of
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Riot claims that Rhodium "deliberately miscalculated" how much in hosting fees it had to pay for Riot's hosting services. The two were supposed to share the net revenue from Rhodium's mining at the Whinstone facilities, said the lawsuit, which further alleged that the Rhodium entities short-changed Whinstone for $26 million
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On May 7, 2023, the Bitcoin network was plagued with an overwhelming 500,000 unconfirmed transactions, causing a major bottleneck in the system. However, the good news is that the congestion has been clearing, resulting in a significant reduction in onchain fees, which have now dropped below $5. As of now,
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On Tuesday, the transaction fees on bitcoin represented 75% of the current block reward, currently at 6.25 BTC, as opposed to the usual 2%-5%, said Tim Rainey, treasurer at Greenidge Generation Holdings (GREE). “This is approximately equivalent to the increase in mining revenue if the bitcoin price surged from the
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Amid the ongoing spike in Bitcoin (BTC) transaction fees, some cryptocurrency exchanges have moved to adjust the cost of withdrawing BTC from their platforms.The United States-based exchange Kraken has increased Bitcoin withdrawal fees to match the current fees on-chain, the company’s customer support manager wrote on Reddit on May 10.“This
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Bitcoin (BTC) struggled to recover from fresh losses on May 11 as a false alarm over United States government sales spooked markets.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnalysts deny U.S. government BTC salesData from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $27,400 at the time of writing.The pair had
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First, by sheer transaction volume, Bitcoin’s mempool has seemingly never been this full – not by a longshot. The last major peak in April of 2021 saw 200,000 transactions waiting in line, but yesterday that number peaked at 450,000. (Hoenicke’s node only tracks back to 2017, but prior to that
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