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Florida police have arrested a Tampa woman who allegedly orchestrated a massive bank fraud scheme. The Hillsborough County Sheriffâs Office (HCSO) alleges Janetcilize Martinez, 24, advertised âtap-inâ services, a type of fraud where a scammer uses debit cards to deposit bad checks from account holders who are also in on the scheme. The scammers then withdraw the funds before the checks show up as fraudulent. HCSO detectives discovered Martinez through social media posts and served a search warrant at her house in July, discovering 117 credit cards issued to other people. They also say they found tools and accessories to produce counterfeit credit cards, $6,292 in US currency, 78 grams of marijuana drug paraphernalia and a semi-automatic firearm. Martinez faces charges of possession of credit card making equipment; unlawful possession of personal identification of another (five or more); fraudulent use of personal information; possession of drug paraphernalia; possession of cannabis (more than 20 grams) and possession of cannabis with intent to sell, manufacture, or deliver. Says Sheriff Chad Chronister, âTheft is not a victimless crime. It affects real people and real businesses. This individual thought she could cash in on a criminal scheme, but now she will pay the price for her actions. If you choose to steal, know that we will catch you and hold you accountable.â Follow us on X , Facebook and Telegram Don't Miss a Beat â Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Woman Arrested With 117 Stolen Credit Cards After Orchestrating âTap-Inâ Bank Fraud Scheme on Social Media appeared first on The Daily Hodl .
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BitcoinWorld US Bitcoin Mining Rigs Face Alarming 21.6% Tariffs: A Crucial Blow to the Industry The landscape for US Bitcoin mining rigs is undergoing a significant shift. Recent developments from the White House have introduced substantial tariffs on specific crypto mining equipment imported from key Southeast Asian nations. This move is poised to reshape the operational strategies and financial outlook for many Bitcoin miners across the United States. Itâs a crucial moment for the industry, as companies grapple with higher import duties and contemplate their next steps. What Are These New Southeast Asian Tariffs? Recently, the White House finalized reciprocal tariffs of 19% on Application-Specific Integrated Circuits (ASICs) originating from Indonesia, Malaysia, and Thailand. This addition brings the total import duties on these vital crypto mining equipment pieces to a staggering 21.6%. Luxor Technology, a prominent name in the crypto mining sector, shared these insights with The Block, highlighting the immediate implications for US-based operations. These new tariffs are not merely an administrative fee; they represent a considerable increase in the barrier to entry and ongoing operational costs for American miners. Consequently, companies that rely on these nations for their hardware supply will experience a direct hit to their budgets, affecting their ability to scale and compete globally. The Rising Mining Rig Costs and Their Impact on Bitcoin Miners The imposition of these tariffs directly translates to higher mining rig costs for US companies. When miners import ASICs from Indonesia, Malaysia, or Thailand, they now face an additional 21.6% on top of the equipmentâs base price. This significant increase in acquisition cost can erode profit margins, especially for smaller and medium-sized operations. Key impacts include: Increased Capital Expenditure: Acquiring new US Bitcoin mining rigs becomes more expensive, demanding greater upfront investment. Reduced Competitiveness: US miners might find it harder to compete with international counterparts who do not face similar tariff burdens. Slower Expansion: Higher costs can hinder the pace of expansion and technological upgrades within the US mining sector. This economic pressure could force a re-evaluation of business models and supply chains. Considering Overseas Expansion: A New Strategy for US Bitcoin Mining Rigs? As mining rig costs escalate, a notable trend emerging is the consideration of overseas expansion by US Bitcoin miners . Luxor Technology specifically noted this shift, indicating that some companies are actively exploring relocating parts of their operations or even their entire infrastructure to countries with more favorable economic conditions and lower equipment costs. Why consider moving? Lower Equipment Costs: Avoiding the 21.6% tariff by sourcing ASICs directly from or through non-tariffed regions. Energy Access: Some international locations offer more abundant and cheaper renewable energy sources, further reducing operational expenses. Regulatory Certainty: Diversifying operations can mitigate risks associated with domestic policy changes. This potential exodus could impact the USâs share in the global Bitcoin hash rate, influencing the decentralization and security of the network. Navigating the Future: Strategies for US Bitcoin Miners Amidst Southeast Asian Tariffs For Bitcoin miners in the US, adapting to these new Southeast Asian tariffs is paramount. Companies are exploring various strategies to mitigate the financial strain and maintain profitability. Some are looking for alternative suppliers outside the tariffed regions, while others are focusing on optimizing the efficiency of their existing US Bitcoin mining rigs to maximize output with current hardware. Furthermore, thereâs a growing discussion about advocating for policy adjustments or exploring government incentives that could offset these new costs. The long-term viability of the US as a leading hub for Bitcoin mining will depend on how effectively the industry can innovate and adapt to these evolving trade policies. The imposition of these significant tariffs on crypto mining equipment from Southeast Asia marks a pivotal moment for the US Bitcoin mining industry. While it presents immediate challenges through increased mining rig costs and operational hurdles, it also spurs innovation and strategic re-evaluation. The industryâs resilience and adaptability will be key in navigating these turbulent waters, potentially leading to new efficiencies and diversified global footprints for American Bitcoin miners . Frequently Asked Questions (FAQs) What are the new tariffs on Bitcoin mining rigs from Southeast Asia? The U.S. has imposed reciprocal tariffs of 19% on ASICs from Indonesia, Malaysia, and Thailand, bringing the total import duties on these crypto mining equipment pieces to 21.6%. How do these tariffs impact US Bitcoin miners? These tariffs significantly increase the mining rig costs for US-based Bitcoin miners , affecting their capital expenditure, profit margins, and overall competitiveness against international operations. Why are US Bitcoin miners considering overseas expansion? Miners are considering overseas expansion to avoid the high tariffs on US Bitcoin mining rigs , access potentially lower energy costs, and benefit from more favorable regulatory environments in other countries. Which countries are affected by these new Southeast Asian tariffs? The new tariffs specifically target ASICs imported from Indonesia, Malaysia, and Thailand. Will these tariffs affect Bitcoinâs price? While the tariffs directly impact the operational costs of Bitcoin miners , their direct effect on Bitcoinâs price is indirect and complex. Increased mining costs could theoretically reduce miner profitability, potentially influencing selling pressure, but the broader market dynamics are driven by many factors. If you found this article insightful, please share it with your network! Help us spread awareness about the evolving landscape of Bitcoin mining and the challenges faced by the industry. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin institutional adoption . This post US Bitcoin Mining Rigs Face Alarming 21.6% Tariffs: A Crucial Blow to the Industry first appeared on BitcoinWorld and is written by Editorial Team
PUMP Token's price declined post-launch, causing investor uncertainty. Crypto markets remain under macroeconomic pressure despite positive developments. Continue Reading: PUMP Token Faces a Tumultuous Journey While Crypto Developments Abound The post PUMP Token Faces a Tumultuous Journey While Crypto Developments Abound appeared first on COINTURK NEWS .
SBI Holdings has disclosed plans to introduce a dual-asset crypto ETF offering direct exposure to both Bitcoin and XRP on the Tokyo Stock Exchange.
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VanEck published its crypto market recap for July, and one section suggested Ethereum has the potential to outshine Bitcoin as a store of value. According to the report , published on Aug. 5, while Bitcoin still holds the lead, there are several reasons why Ethereum is closing the gap and may eventually pull ahead.Ethereum Treasuries Catching upFor one, VanEck explained that companies originally favored Bitcoin for their digital treasuries because of its predictable supply and strict monetary policy. Bitcoin's capped issuance gave it an edge as a long-term store of value. However, things have started to shift. Specifically, more firms are now leaning toward Ethereum, especially those looking to grow their holdings through staking and decentralized finance.For context, VanEck currently tracks eight major Ethereum-focused digital treasuries. Together, they hold about 1.46 million ETH. Bitmine Immersion Technologies owns the largest share, holding 625,000 ETH worth roughly $2.4 billion, which makes up nearly half of the total. Notably, when VanEck added ETH reserves from companies and exchange-traded products (ETPs), total institutional holdings reached 8.2 million ETH. This represents about 6.8% of Ethereum's circulating supply.Bitcoin still dominates in this area. In comparison, institutions hold 15.6% of all BTC in circulation. For Ethereum to catch up, VanEck said treasuries would need to grow 4.5 times larger, while ETH-based ETPs would have to expand by 1.4 times. Ethereum Offers More Flexible TreasuriesStill, VanEck argued that Ethereum brings more options to the table. Firms can use ETH in more flexible ways than Bitcoin. They can stake it, earn network rewards, and tap into DeFi tools to boost returns. Meanwhile, Bitcoin treasuries mostly rely on lending or options trading.Interestingly, Joseph Lubin, CEO of SharpLink and co-founder of Ethereum, made a similar argument last month. Lubin claimed that Ethereum is a better asset for company treasuries than Bitcoin due to its additional features like staking.Ethereum Now Boasts Lower Inflation than BitcoinMeanwhile, in the July report, VanEck also focused on how the Ethereum economy has changed. The report noted that Ethereum once had a higher inflation rate than Bitcoin: 14.4% versus 9.3%. However, two major upgrades changed that. First, Ethereum introduced EIP-1559 in August 2021, which burns a portion of ETH transaction fees. This move helped lower the overall supply during periods of heavy network activity. Then, in September 2022, Ethereum switched from proof of work to proof of stake. This upgrade, known as the Merge , dropped daily ETH issuance from around 13,000 to just 1,700.By March 2023, ETH's inflation rate had fallen to just 0.2%, while Bitcoin's had grown by 3%. VanEck highlighted that Ethereum's tighter supply and built-in yield give it an edge that Bitcoin can't match. Nonetheless, it suggested Bitcoin inflation could drop with subsequent halvings. Ethereum Inflation Dropped Below Bitcoin in March 2023 | VanEck According to the report, Ethereum also hands more influence to its holders. Specifically, ETH owners help shape the network's direction, while Bitcoin's governance remains far more limited.Essentially, VanEck concluded that Ethereum's flexible economics, expanding institutional presence, and built-in utility could eventually make it a stronger long-term asset than Bitcoin.High-Profile Figures Backing ETH in Recent WeeksSeveral high-profile figures in the crypto space have also favored Ethereum over Bitcoin in recent weeks. For instance, last month, Galaxy Digital CEO Mike Novogratz said he expected ETH to outperform Bitcoin over the next three to six months. Meanwhile, this month, Bit Digital CEO Sam Tabar said ETH offers both growth and a 3â4% staking yield. He compared ETH to oil, something with real-world utility, while he described Bitcoin as gold: valuable, but static. Anthony Georgiades, General Partner at Innovating Capital, made a similar comment on July 8. He said holding ETH is like owning infrastructure, not just an asset.
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Judge issues Allen charge after jury deadlocks in Tornado Cash trial, keeping the case alive as questions mount over crypto developer liability.