Kalam Crypto #92: SBF guilty verdict & Bitcoin miners turn trash to gold
This week, SBF is found guilty on all seven charges, Bitcoin miners turning waste into digital gold, and Michael Saylor buys more Bitcoin.
“Remember that hope is a powerful weapon even when all else is lost.” Nelson Mandela
Ahlan wa sahlan, and welcome to the 92nd edition of CoinMENA's weekly newsletter, Kalam Crypto. This week, SBF is found guilty on all seven charges, Bitcoin miners turning waste into digital gold, and Michael Saylor buys more Bitcoin. All that and more, so let's dive into this week's letter, and talk crypto:
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Global News 🌍
SBF Found Guilty: FTX co-founder Sam Bankman-Fried was found guilty on all seven counts, including wire fraud, conspiracy, commodities fraud, securities fraud, and money laundering. The trial revealed a criminal level of negligence and lack of governance prevalent at FTX, termed by prosecutors as "one of the biggest financial frauds in U.S. history." Sentencing is scheduled for March 28, with the possibility of an appeal.
Bitcoin miners turning waste to digital gold: Marathon Digital Holdings, one of the largest publicly traded bitcoin mining companies, has launched a 280 kW Bitcoin mining pilot project in Utah that is exclusively powered by landfill methane gas. The pilot project is currently fully energized and operational. One of the unfounded critiques of Bitcoin is that it uses a lot of energy. However, due to its location-agnostic requirements, bitcoin can capture and monetize stranded energy sources, that are not connected to any electric grid, like landfills, or flared gas from oil drilling facilities.
Class of the Week 🎓
Bitcoin Halving: At the time of writing this newsletter, block 815,545 of bitcoin was just mined, and the next halving will occur at block 840,000. What is the Bitcoin halving? And why is it important? Check out this write-up from CoinMENA University.
Tweet Of The Week 🐥
CoinMENA News 🗞️
Trade & Qualify for 1,000!
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Quiz Corner ✅
Last week’s question: According to the Bitcoin whitepaper, who has the authority to make changes to the Bitcoin protocol?
D) Consensus among network participants
This week’s question: How many users can win the new 1000 XRP giveaway?
A) 3 users
B) 2 users who will get 500 XRP each
C) 1 user who will bag the whole 1000 XRP
See the answer in next week’s newsletter. Or check out our new learning platform https://university.coinmena.com/