July 02, 2023

In regard of the rich grace and wisdom of his love toward his people for who sees not, but that it is a curse to be unready as these foolish virgins, who were therefore shut out.

-Thomas Shepard

Hut 8, a Canadian Bitcoin mining firm, has secured a $50 million credit facility from Coinbase Credit, a subsidiary of the US-based cryptocurrency exchange, Coinbase. The facility will be used for general corporate purposes and will be backed by bitcoins held with the exchange. The agreement involves Hut 8 Holdings, as the borrower, and includes a $15 million term loan expected to be funded at or after closing, with the option to get an additional $20 million in delayed draw term loan tranche in a second borrowing between one and two months after the closing. The credit facility provides an option to access an additional $15 million delayed draw term loan tranche in a third borrowing within 15 business days after the completion of the merger between Hut 8 and US Data Mining Group. This merger resulted in one of the largest North American crypto mining companies and the new mining entity is now among the largest miners in the world in terms of hash rate. Hut 8’s Chief Executive Officer, Jaime Leverton, said the credit facility gives the mining firm "additional financial flexibility" and ensures that they can maintain their dynamic Bitcoin treasury management strategy going into the halving, an anticipated event that will reduce the rewards given to miners by half.

Source: financemagnates

Peter Goettler, president of the Cato Institute, believes that Central Bank Digital Currencies (CBDCs) are a powerful tool for citizens around the world. He believes that CBDCs are a direct response to the rise of cryptocurrencies, which provide the ability to transact outside of the traditional banking system. Goettler believes that CBDCs will provide citizens with more control over their finances, as well as more privacy and security. He also believes that CBDCs will help to reduce the cost of transactions and increase financial inclusion. Ultimately, Goettler believes that CBDCs are the ultimate trojan horse for citizens around the world.

Source: dailyhodl

The recent email trail released in the Ripple vs Securities and Exchange Commission (SEC) lawsuit has revealed a controversial insight into XRP's market handling. This has led to an increase in community inquiry and questions regarding Ripple's XRP buyback program. The email suggests that Ripple was considering XRP buybacks to increase the demand for the cryptocurrency and boost its price. This has raised concerns among the community about Ripple's intentions and the potential implications of such a move. It remains to be seen how the SEC will respond to this revelation and what the outcome of the lawsuit will be.

Source: crypto-news-flash

Bitshares Labs Inc. (BLINC) and Harper and Hill (HARPER & HILL) have partnered to support the UNESCO Creative Artists Group in Baguio City. The partnership will focus on the development of Non-Fungible Tokens (NFTs) to help the group promote their work and increase their visibility. The NFTs will be used to create digital artworks, music, and other creative works. This partnership will help the UNESCO Creative Artists Group to reach a wider audience and increase their potential for success.

Source: bitpinas

Generative AI is a type of artificial intelligence that uses large data sets and sophisticated models to generate new images, music, text and more. It is designed to mimic human creativity and can be used to create new works of art, generate new ideas, and even create new products. Generative AI has the potential to revolutionize the way we create and interact with technology, and is already being used in a variety of industries.

Source: cointelegraph

Nairobi is the fourteenth upgrade to the blockchain, a distributed ledger technology that is used to securely store and transfer digital assets. This upgrade is designed to improve the scalability and performance of the blockchain, as well as to introduce new features such as smart contract support and improved privacy. Nairobi is expected to be a major step forward in the development of the blockchain, and will help to make it more accessible and useful for a wider range of applications.

Source: coindesk

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Bitterballen, deep-fried meatballs with mustard, are a traditional treat of what European nation?

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Trivia Answer: The Netherlands

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