The Block
Bitcoin’s fourth halving event has completed, ushering in a new epoch for the network. Bitcoin’s block subsidy reward for miners has dropped from 6.25 BTC to 3.125 BTC.
Quick Take Sam Bankman-Fried has knowledge that would be valuable to cases involving celebrities such as Tom Brady and Shaquille O’Neal. A court would still need to sign off on the settlement.
Quick Take Non-profit cryptocurrency industry advocate group Coin Center took aim at a new stablecoin bill that would ban algorithmic stablecoins, calling it “unconstitutional” and “anti-innovation.”
Quick Take In the Form 1099-DA draft posted on Thursday, the IRS lists broker types, including an “unhosted wallet provider.” The form stems from rules proposed last year that say crypto brokers would be treated similarly to brokers for more traditional investments such as stocks and bonds.
A DAO called Own the Doge has purchased the iconic image of Shiba Inu Kabosu, which has inspired a slew of famous memes popular in the crypto community. The organization didn’t disclose the price it paid to acquire the image.
Entrepreneur Mark Cuban noted that the bitcoin halving will have a direct impact on revenue for bitcoin miners.But he said the more interesting question was how AI would impact the mining industry.
Quick Take Tron founder Justin Sun spent over 380 days in the U.S., the SEC said in an amended complaint filed on Thursday. The agency argued that the court has jurisdiction because the defendants, including Sun, took certain actions within the U.S. Sun’s lawyers have pushed back in previous documents, arguing that the SEC is not a “worldwide regulator.”
MicroStrategy’s Michael Saylor has pocketed about $370 million as his announced plan to sell company shares nears its conclusion.
Bitcoin is fighting to keep its head above the $65,000 mark as its halving event approaches.However, risk-on market sentiment is now overshadowing the former exuberance leading up to the bitcoin halving, an analyst said.
Bitcoin’s latest halving event, when miners’ block subsidy reward is cut from 6.25 BTC to 3.125 BTC, is estimated to occur around 9 p.m. ET today.We asked several firms in the industry what impact Bitcoin’s fourth halving could have on the price of the cryptocurrency going forward.
