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Showing posts with the label economic impact

Roman Storm says he's been 'financially cancelled' after payroll firm axe

Tornado Cash founder Roman Storm claims he’s been “financially cancelled” after payroll firm Gusto closed his account amid his ongoing legal battle with the US government. Gusto said it dropped Storm’s payroll account after an “extensive review,” adding, “Our decision cannot be reversed and you need to find a new payroll provider effective immediately.”  As a result, Storm, who is currently embroiled in a high-profile money laundering trial linked to his operation of crypto mixer Tornado Cash, complained that, “Financial cancel culture is still hitting me hard.” He also noted that he had a growing list of financial companies that reject users who are undergoing criminal or civil legal proceedings against them .  Thank you @GustoHQ Financial cancel culture is still hitting me hard I have a list of fin products who reject those who are “innocent until proven guilty” Any recommendations for a payroll solution? pic.twitter.com/rnmqPo6zeG — Roman Storm ️...

Bhutan silently mines $1.3 billion in Bitcoin 

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Bhutan has emerged as the third-largest government holder of Bitcoin, quietly accumulating 12,062 BTC since 2020, now valued at just under $1.3 billion, as per data from Arkham Intel on June 27. This trove amounts to nearly 40% of the Himalayan kingdom’s gross domestic product (GDP), making it one of the most crypto-exposed nations on earth. Bhutan’s crypto holdings. Source: Arkham Intel Bhutan’s Bitcoin holdings, long kept under wraps, are managed by the state-owned Druk Holding and Investments (DHI), the government’s commercial arm. “For Bhutan, it was quite obvious in a lot of ways,” said Ujjwal Deep Dahal, CEO of DHI, in a rare public comment. Dahal noted that the nation’s abundant hydropower resources provided a clear path to low-cost, sustainable Bitcoin mining, a strategic advantage that few other countries can replicate. Bhutan starts mining Bitcoin in 2020 Bhutan began mining Bitcoin as early as 2020, leveraging its green energy s...