El Salvador continues its dedication to becoming a global leader in the Bitcoin mining industry through the development of its ambitious Volcano Energy project. The country plans to add 241 MW of renewables and 1.3 Eh/s of Bitcoin mining, marking a further step towards “economic freedom,” energy competitiveness, and “self-reliance,” as shared on Twitter by The post El Salvador’s Bitcoin Volcano in sight appeared first on CryptoSlate.

This weekend in crypto saw several peculiar events unfolding, from a thought-provoking fake summit to prominent Twitter account hacks and discussions on potential technological advancements. Uniswap fake event In an extraordinary display of deception, a group in Shenzhen, China, staged an event under the guise of the “First Uniswap Asian Summit” and had a so-called The post Crypto Twitter’s weekend filled with scams, hacks, and fake events appeared first on CryptoSlate.

Bitcoin Magazine Ventures, managed by David Baily and Tyler Evans, is launching the world’s first Bitcoin Ecosystem Fund. The venture capital fund, dedicated exclusively to investing in the Bitcoin ecosystem, is raising $30 million and is already oversubscribed by $90 million, according to internal sources shared with CryptoSlate. The new fund emphasizes the growth of The post Bitcoin Magazine Ventures launches Bitcoin Ecosystem Fund with Sora Ventures’ support appeared first on CryptoSlate.

Digital asset investment products have experienced six consecutive weeks of outflows, totaling $272 million, according to a May 30 report from CoinShares. This negative sentiment reflects the broader market trends, with investment products being more active than the overall digital asset space. The report highlighted that Bitcoin experienced a decline of $11 million, remaining the The post Digital asset market faces headwinds amid persistent outflows, market uncertainty appeared first on CryptoSlate.

In a significant turn of events, the controversial Digital Asset Mining Energy (DAME) excise tax was not included in the latest Fiscal Responsibility bill aimed at tackling the Debt Ceiling crisis. This proposed 30% tax on energy costs for cryptocurrency miners drew widespread criticism from stakeholders within the crypto-mining sector and U.S. lawmakers. Thus, the The post Is the US 30% Bitcoin mining tax dead? appeared first on CryptoSlate.