MicroStrategy’s Bitcoin portfolio surpasses $20B, ROI now over 100%

November 11, 2024 Coin Telegraph

<div>MicroStrategy's Bitcoin portfolio surpasses B, ROI now over 100%</div>

The Bitcoin stacking firm has bought Bitcoin 42 times at a dollar cost average of $39,292, according to Bitcoin Treasuries data.

Business intelligence firm MicroStrategy’s Bitcoin stash has just crossed over $20 billion in value as Bitcoin rallied above $80,000.

MicroStrategy’s 252,200 Bitcoin (BTC) is now worth $20.54 billion — putting the company up over 104% on its Bitcoin investment strategy, according to “Saylor Tracker,” named after the firm’s executive chairman, Michael Saylor.

Source: Michael Saylor

Crypto trader profits $9M in 3 days, hits 3,000x return on investment

October 20, 2024 Coin Telegraph

Crypto trader profits M in 3 days, hits 3,000x return on investment

Coin Telegraph

The unknown crypto trader only invested $3,000 into a new Solana-based memecoin before its price rally.

A savvy cryptocurrency trader has profited over $9 million on his initial altcoin investment, showcasing the potential of memecoin trading.

The savvy trader made a 3,000-fold return on his investment in the Solana-based Numogram (GNON) token, a low-market capitalization memecoin launched on Oct. 17.

The savvy trade was flagged by onchain intelligence firm Lookonchain in an Oct. 20 X post:

Tether Posts $5.2 Billion Profit in First Half of 2024

July 31, 2024 Bitcoin.com

Tether Posts .2 Billion Profit in First Half of 2024

audit

Tether Holdings Limited reported a record-breaking net profit of $5.2 billion for the first half of 2024, according to its latest assurance opinion for the second quarter. The report, conducted by BDO, highlighted Tether’s increased exposure to U.S. Treasury bills and a significant rise in group equity. Tether Reveals Mid-Year Financials The largest stablecoin issuer […]

Bitcoin miner TeraWulf is open to merger but not for ‘empire building’

July 8, 2024 Coin Telegraph

Acquisition

Expanding the number of Bitcoin machines or facilities “makes no sense” if profitability margins don’t increase, TeraWulf’s Kerri Langlais stressed.

Bitcoin (BTC) mining firm TeraWulf says it would consider a merger if there’s an opportunity to widen profit margins—but not if it’s merely for “empire building,” according to its chief strategist.

It comes amid expectations of more mergers and acquisition offers in the mining sector following the latest Bitcoin halving.

“We will certainly consider inorganic growth opportunities through M&A [but] expanding merely for growth’s sake, or ‘empire building,’ without considering profitability makes no sense,” explained Kerri Langlais, TeraWulf’s chief strategy officer in an interview with Cointelegraph.

Base TVL surges to $8B just days after overtaking OP Mainnet

June 10, 2024 Coin Telegraph

Base TVL surges to B just days after overtaking OP Mainnet

Arbitrum One

Base has topped Ethereum layer 2 leaderboards by transaction count and has been the most profitable Ethereum scaler for three consecutive months.

Total value locked on the Ethereum layer-2 network Base has surpassed $8 billion — only days after overtaking Optimism’s OP Mainnet.

L2Beat data shows its TVL as of June 10 is now at $8.05 billion, including $2.14 billion of canonically bridged value — assets locked on Ethereum to be represented on Base — and $5.92 billion in natively minted assets.

The Coinbase-supported chain surpassed OP Mainnet as the largest chain within the Superchain ecosystem last week and is now the second-largest Ethereum scaler in TVL, trailing Arbitrum One’s $18.27 billion.

Jack Dorsey’s Block to use 10% of Bitcoin profit to buy BTC every month

May 2, 2024 Coin Telegraph

Bitcoin

Block, Inc. co-founder Jack Dorsey told shareholders its Bitcoin-buying plan during an earnings call, saying its an “investment in a future where economic empowerment is the norm.”

Twitter co-founder Jack Dorsey said his fintech firm Block, Inc. will flip 10% of its gross profit made off its Bitcoin products into buying Bitcoin (BTC) every month.

“Going forward, each month we will be investing 10% of our gross profit from Bitcoin products into Bitcoin purchases,” Dorsey wrote in a May 2 shareholder letter inclusive of its better-than-expected first-quarter results.

“We were one of the first public companies to put Bitcoin on our balance sheet,” he added. Block bought $220 million worth of BTC across Q4 2020 and Q1 2021.

Ethereum on track for $1B annual profit as DeFi drives Q1 revenue

April 19, 2024 Coin Telegraph

Ethereum on track for B annual profit as DeFi drives Q1 revenue

Coin Telegraph

Ethereum saw first-time profits only last year and if it can keep pace with its 2024 first-quarter results, it could see $1 billion in yearly income by the end of the year.

Blockchain network Ethereum is on the path to $1 billion in annualized profits after it netted income of $365 million in Q1, coming alongside a year-on-year quarterly revenue growth of 155%.

The network’s 2024 first-quarter income is a nearly 200% bump from the $123 million profit in Q4 2023, according to an April 17 report from The DeFi Report analyst Michael Nadeau.

Ethereum’s fee revenue — earned through users paying for transactions — hit $1.17 billion, up 155% from Q1 2023 and an 80% increase from the prior quarter.

Yearn.finance pleads arb traders to return funds after $1.4M multisig mishap

December 14, 2023 Coin Telegraph

Yearn.finance pleads arb traders to return funds after .4M multisig mishap

arbitrage trading

A Yearn contributor said the value lost came from “strictly protocol owned liquidity” in the protocol’s treasury and that customer funds weren’t impacted.

Decentralized finance protocol Yearn.finance is hoping arbitrage traders will return $1.4 million in funds after a multisignature scripting error, resulting in a large amount of the protocol’s treasury being drained.

“A faulty multisig script caused Yearn's entire treasury balance of 3,794,894 lp-yCRVv2 tokens to be swapped,” according to a Dec. 11 GitHub post by Yearn contributor “dudesahn.”

The error occurred while Yearn was converting its yVault LP-yCurve (lp-yCRVv2) — earned from performance fees on vault harvests — into stablecoins on decentralized exchange CowSwap.

Russian Banks Set for Record Profits This Year, Central Bank, Rating Agency Say

May 3, 2023 Bitcoin.com

Bank of Russia

Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are coming after 2022 became the worst annual period in seven years for the sanctioned Russian banking sector in terms of financial outcome. Banks in Russian Federation Headed for […]

Rogue Validator Exploits MEV Bots on Ethereum, Resulting in $25.3M in Crypto Losses

April 4, 2023 Bitcoin.com

Rogue Validator Exploits MEV Bots on Ethereum, Resulting in .3M in Crypto Losses

Arbitrage

On April 3, 2023, at Ethereum block height 16,964,664, a group of MEV (Maximal Extractable Value) bots were exploited for $25.3 million. An analysis of the exploit revealed that a renegade validator switched the MEV bots’ transactions and seized various crypto tokens, such as 7,460 wrapped ether and 64 wrapped bitcoin. While the Mechanisms Behind […]

Profit

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