Blockpro

Fold Plans to Go Public via SPAC: A Major Move for the Bitcoin Community Fold, a Bitcoin rewards app, has announced its intention to go public through a merger with a Special Purpose Acquisition Company (SPAC) . The SPAC, FTAC Emerald Acquisition Corp., is listed on Nasdaq and sponsored by seasoned SPAC manager Betsy Cohen. T he proposed deal, which implies a $365 million valuation for Fold, is expected to close in the fourth quarter of 2024, subject to regulatory and shareholder approvals. Fold allows users to earn Bitcoin cashback on everyday purchases from retailers such as Amazon, Uber, and Starbucks . Additionally, the app offers a debit card that provides Bitcoin rewards for transaction s . Integrated with the Bitcoin Lightning Network, Fold includes features like recurring Bitcoin purchases, earning Bitcoin for paying bills such as mortgages and rent, rounding up purchases into Bitcoin, and storing funds in insured accounts . These features aim to make Bitcoin accessible to a ...

A Sleeping Giant Awakens: A Bitcoin Wallet Worth $60 Million Moves After 12 Years of Inactivity In the often mysterious and fascinating world of cryptocurrencies, there are events that astonish even the most seasoned observers . Recently, one such event occurred when a Bitcoin wallet, untouched for nearly twelve years, suddenly came to life . This wallet, which originally received 1,000 Bitcoin worth about $12,000 in 2012, has now transferred these digital coins, currently valued at over $60 million, to a new address. The transfer, first detected by Whale Alert, a platform for monitoring large cryptocurrency transactions, took place on Sunday and marked the wallet’s first transaction in over a decade . On-chain data reveals that the wallet received the Bitcoin 11 years and 9 months ago and had not made any outgoing transactions until this Sunday. Notably, the transaction was initially broadcast over the network on January 19, 2024 , indicating a significant delay between the broadcast...

Blockchain Boom: ‘Onchain’ Searches Soar as DEX Trading Peaks In recent weeks, the search interest for the term “onchain” on Google has reached an impressive peak. The search interest score for “onchain” has surged from around 19 at the beginning of 2024 to an all-time high of 100 in July, marking a fivefold increase . This notable rise signals a growing public interest in blockchain technologies, highlighting a rapid escalation in attention toward the topic. This surge in search interest coincides with record-breaking trading volume ratios between decentralized exchanges (DEXs) and centralized exchanges (CEXs). The DEX-to-CEX trading volume ratio hit a new peak of 13.76% in July 2024 , reflecting a significant shift in trading preferences toward decentralized platforms. A key driver behind this increase could be Coinbase’s recent “Onchain Summer” promotion . As one of the largest and most recognized cryptocurrency exchanges globally, Coinbase’s focus on onchain activities has the...

Revolut’s Game-Changing Move: Fintech Giant Secures UK Banking  With this license, Revolut is poised to position itself not just as an innovative financial service provider but also as a serious contender in the traditional banking sector . Revolut’s CEO, Nik Storonsky, expressed pride in reaching this achievement and underscored the company’s vision to become the bank of choice for customers in the United Kingdom. “We are incredibly proud to reach this important milestone in the journey of the company,” Storonsky stated. “We will ensure we deliver on making Revolut the bank of choice for UK customers.” However, the PRA’s approval comes with certain restrictions. During what is termed the “mobilization” phase, Revolut will initially operate with a deposit limit of £50,000 (approximately $64,000) per customer . This precautionary measure allows the company to finalize its banking processes and ensure compliance with regulatory standards before fully launching its banking servic...

Riot Platforms Boosts Capacity with $92.5 Million Block Mining Acquisition Riot Platforms has made a significant move to expand its mining operations with the $92.5 million acquisition of Block Mining, a Kentucky-based bitcoin miner . This strategic acquisition is designed to boost Riot’s mining capacity and enhance its national presence. The deal immediately adds 60 megawatts (MW) of operational capacity to Riot’s portfolio. The company plans to further expand Block Mining’s two sites, aiming to reach a total of 110 MW by the end of 2024 . This expansion will increase Riot’s total potential power capacity to an impressive 2 gigawatts (GW). Jason Les, CEO of Riot Platforms, highlighted that this acquisition not only broadens their operational footprint but also accelerates the growth of Block Mining in Kentucky. With the potential to scale up to over 300 MW, Riot is set to advance towards its ambitious growth target of 100 exahashes per second (EH/s). The acquisition was structured w...

Today marks a significant milestone in the world of cryptocurrency as OKX Wallet announces its support for yet another blockchain, The Open Network (TON). This latest integration catapults OKX to a remarkable achievement: they now support a staggering 100 mainnet blockchain networks. The addition of The Open Network to OKX Wallet's repertoire follows closely on the heels of recent integrations like NEAR, Blast, and zkLink Nova. This move underscores OKX's commitment to expanding its ecosystem, enabling users to access over 10,000 decentralized applications and a vast array of tokens across more than 400 decentralized exchanges (DEXs). Haider Rafique, Chief Marketing Officer of OKX, emphasized the significance of these integrations in a recent press release. He highlighted how OKX's native support for diverse blockchain networks facilitates seamless exploration of the ever-evolving crypto landscape. This strategic approach not only enhances accessibility but also empowers us...

In recent days, significant developments have unfolded across global financial markets, capturing the attention of investors worldwide. B oth Bitcoin and Ether have shown pronounced downtrends, while equity markets have come under considerable selling pressure . These movements are surprising, particularly as markets typically exhibit positive reactions to signals indicating impending interest rate cuts. Bitcoin experienced a 3% decline, trading at $57,18 9, accompanied by similar losses in Ether and Solana. Concurrently, U.S. stock markets saw notable declines:  the Nasdaq fell by 1.95%, and the S&P 500 dropped by 0.88% . These reactions contrast with expectations that markets generally respond favorably to prospects of rate cuts. Of particular note are the latest inflation figures, revealing lower-than-expected inflation:  June’s Consumer Price Index (CPI) declined by -0.1%, while the year-on-year inflation rate remained at 3% .  These numbers could elevate the like...