By Kapil Rajyaguru
Trump Names Former SEC Commissioner Paul Atkins As His Pick For SEC Chair.
President-elect Donald Trump named Patomak Global Partners founder and CEO Paul Atkins as his pick to head up the U.S. Securities and Exchange Commission on Wednesday.
Atkins, who co-chairs the Digital Chamber’s Token Alliance and is an adviser to Reserve, previously served as a commissioner at the agency under former President George W. Bush between 2002 and 2008.
When Trump takes the oath of office as the 47th president of the United States at noon on January 20, Atkins will succeed outgoing SEC Chair Gary Gensler.
Hut 8 To Raise Up To $500mn To Buy Bitcoin As A Strategic Reserve Asset.
North American Bitcoin mining company Hut 8 announced a $250 million stock repurchase along with a share sale program, with the proceeds going toward growth initiatives, including buying Bitcoin as a strategic reserve.
Hut 8’s at-the-market (ATM) offering program will enable the company to sell up to $500 million in common stock, with proceeds used for acquiring or developing power and digital infrastructure, a Bitcoin strategic reserve, and other corporate purposes, including capital expenditures and debt repayment.
Hut 8 stock dipped to $6.33 in January following a report by a short-seller that rattled investors. It has rebounded 326% since then to $27.03 on Dec. 4, according to Google Finance.
Mt. Gox Moves $2.4bn In Bitcoin Just After BTC Surges Past $100K.
Long-collapsed crypto exchange Mt. Gox moved over 24,000 Bitcoin, worth nearly $2.5 billion, to an unknown address on Dec. 5 after the cryptocurrency hit a milestone of $100,000.
Arkham Intelligence data shows the exchange moved 24,051 Bitcoin to an unknown address with no previous history starting with “1N7j” at 2:45 am UTC on Dec. 5 in its first transfer since Nov. 12.
Mt. Gox’s move came just 12 minutes after Bitcoin crossed $100,000 and less than half an hour before Bitcoin hit a high of $104,000 on Coinbase at 3:08 am UTC, per TradingView.
BIT Mining Saw 3X Profits Mining DOGE, LTC Instead Of Just Bitcoin.
Crypto mining company BIT Mining said its move to mine proof-of-work coins Dogecoin and Litecoin has been more profitable than mining only Bitcoin.
BIT Mining, which previously only mined Bitcoin, said on Dec. 4 that its expansion into Dogecoin and Litecoin “has proved to be nearly three times more profitable than mining BTC alone.
The company said up until Nov. 27, it had mined 227,908,250.38 DOGE, worth $94.8 million, and 84,485.42 LTC, worth $10.7 million. It didn’t say how much of the mined DOGE and LTC it had held onto, as both cryptocurrencies have surged over the past month.
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