coindesk
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Bitcoin Miner Core Scientific Files for Bankruptcy
The cryptocurrency industry takes another big hit — one of the largest publicly traded Bitcoin miners, Core Scientific, has filed for bankruptcy. The miner reportedly still plans to mine cryptocurrency as it pays off its debts.
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El Salvador Plans to Buy More Bitcoin Every Day Despite Losing Millions Already
Nayib Bukele, the president of El Salvador, announced late Wednesday that his government plans to buy one Bitcoin every day starting on Thursday. And while Bukele hasn’t said when the purchases will stop, it will likely prove a shockingly dumb decision, based on the massive loss he’s already taken by buying bitcoin at an all-time-high…
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Iran Plans to Use Crypto to Pay for Imports to Help Get Around Sanctions
The latest crypto bro on the block happens to be the country of Iran. Reports from the Tasnim news agency Tuesday said that, according to the country’s head of its Trade Promotion Organisation Alireza Peyman-Pak, the country made its first official import order using crypto worth $US10 ($14) million. Further, the official said they will…
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Luna Foundation Tried to Prop Up Terra’s Crumbling Base With Billions in Bitcoin, But It Still Failed
As a kid, I remember when my father tried to use a broom handle in a last ditch effort to support a roof that was collapsing from the weight of nearly three feet of snow. You can guess how well that went. In a similar vein, Terra blockchain reportedly spent $US3.5 ($5) billion to keep…