The Blockchain Bulletin: What Happened in Crypto Today

XRP

El Salvador, was one of the first countries to embrace Bitcoin and they have come up with a green initiative to enhance Bitcoin mining using volcanic energy. This greenish push not only exploits geothermal resources but also strengthens the country’s endeavors towards adopting Bitcoin as a form of digital currency in a sustainable manner. Since September 2021, about 479 Bitcoins worth $29 million have been mined from the Tecapa volcano using geothermal technology.

To bridge the gap between traditional finance and digital assets, Cantor Fitzgerald proposed a $2 billion program that uses Bitcoin as collateral through Tether. Also, the firm had acquired about a 5% stake worth over 600 million from Tether. Further, the CEO of Canto Fitzgerald, Howard Lutnick, would be handing over his role to his son after taking over as the Secretary of Commerce under Trump. With Lutnick at the political helm, potential threats against Tether can be averted.

While speculations are rife for the next pick of Trump, Elon Musk and Vivek Ramaswamy pinpointed that the government is losing about $15 billion on empty government buildings. The duo, handling the Department of Government Efficiency (DOGE) stated that such expenses could be curtailed and channeled into crypto trading. In support of this statement, FTX, the defunct crypto exchange, stated that it would repay its creditors at the earliest. Each member would be receiving about 119% of what they had stored in their wallet at the time of bankruptcy.