News

When Flux burst onto the scene a few days ago, it quickly earned a reputation as the crown jewel of open-source image generators. It matched Midjourney's aesthetic prowess while absolutely crushing it in prompt understanding and text generation. The catch? You needed a beefy GPU with over 24GB of VRAM (or even more) just to get it running. That's more horsepower than most gaming rigs, let alone your average work laptop. But the AI community, never one to back down from a challenge, rolled up its...

El Salvador is getting a massive infrastructure investment that’s expected to support the buildout of its visionary “Bitcoin City.” The government said Sunday that Yilport, a Turkish holding company, will invest $1.62 billion in two of El Salvador’s seaports, marking the largest private investment in the country's history. “This will be a mixed-ownership company between the Yilport company and [El Salvador], which will operate both seaports for the next 50 years,” said the government in a video...

Tigran Gambaryan—a former high-ranking executive at cryptocurrency exchange Binance who was taken into custody in Nigeria in February—is still being denied access to his legal team and experiencing a rapid decline in his health, according to his legal team. According to a statement shared with Decrypt, the circumstances for Gambaryan have worsened significantly since July 16, when the Abuja court adjourned for a holiday. Although the next hearing will not take place until October 11, his legal r...

In a bold move that has raised eyebrows in the cryptocurrency industry, Marathon Digital Holdings—one of the world's largest Bitcoin (BTC) mining companies—has announced plans to raise $250 million through a private offering of convertible senior notes.  While the company frames this decision as a way to strengthen its Bitcoin holdings and support its long-term HODL strategy, industry experts are raising questions about the potential risks and implications of this approach. The convertible notes...

Top Bitcoin miner Argo Blockchain announced Monday that it had finished repaying a $35 million rescue loan from Galaxy Digital.  Argo said that it had repaid the loan—which came from crypto asset manager and financial services firm Galaxy in 2022—ahead of schedule.  Things were looking bad for the London-based company back in 2022, when a crypto bear market forced the miner to sell parts of its Bitcoin holdings to cover rising energy costs.  Things took a turn for the worse when it called off a...

Jarett Dunn (aka Stacc on Twitter) pleaded guilty Monday to fraud by way of an abuse of position, as well as transfer of criminal property. This comes after the Canadian national drained an estimated $2 million from Solana meme coin factory Pump.fun in May and airdropped the funds to random wallet addresses. When Dunn attacked Pump.fun, many spectators hailed him as crypto’s Robin Hood. The meme coin launchpad is the home to countless pump-and-dump schemes, as well as a number of questionable cr...

Thieves stole roughly $700,000 worth of Bitcoin along with other belongings in a robbery in a Costa Rican beach town last week, according to local news reports. At least eight armed robbers violently robbed a group of Israeli nationals at a social event in Puntarenas, Costa Rica, taking a “substantial” amount of Bitcoin from them, local news agency Teletica reported Friday. The assailants, who were heavily armed and wearing police uniforms, appeared to have had law enforcement training, accordin...

The U.S. Securities and Exchange Commission (SEC) has filed charges against the founders of NovaTech for running a Ponzi scheme that netted $650 million in cryptocurrency, the agency said on Monday. The SEC is accusing Cynthia and Eddy Petion of allegedly orchestrating the scam as a “crypto asset investment program” and multi-level marketing (MLM) company that, according to the agency, primarily targeted the Haitian-American community between 2019 and 2023. “NovaTech and the Petions caused untol...