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Tether invests in El Salvador’s renewable energy project

Tether has announced that it will be partnering with El Salvador to invest in a planned $1 billion dollar renewable energy initiative.

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Tether has announced that it will be partnering with El Salvador to invest in a planned $1 billion dollar renewable energy initiative.

The Central American country continues efforts to drive Bitcoin adoption after becoming the first nation to make BTC legal tender some three years ago. The latest is a renewable power generation precinct in Metapán that aims to harness solar and wind energy that will power and be monetized by Bitcoin mining operations.

Tether is among investors in a first-round capital raise to develop Volcano Energy, a soon-to-be-developed 241-megawatt renewable energy park. The site is located in Metapán and will comprise 169 MWs of photovoltaic solar energy and 72 MWs of wind. 

The energy produced will power Bitcoin mining farms in El Salvador, with Tether estimating the park’s computation power surpassing 1.3 exahashes per second. This output would put the cumulative Bitcoin mining hash rate from Volcano Energy in the top 20 pools operating globally.

Tether chief technology officer Paolo Ardoino said the investment marks the stablecoin issuer’s intent to drive investment in renewable energy production as well as mining infrastructure.

Volcano Energy CEO Josue Lopez said that he envisions the park being a benchmark for Bitcoin mining powered by renewable resources as the sector continues to innovate in a competitive and expansive environment. Tether did not disclose the amount of the investment. 

Bitcoin proponent and broadcaster Max Keiser is keenly involved in El Salvador’s adoption efforts, acting as an adviser to President Nayib Bukele as well as the chairman of Volcano Energy.

Saifedean Ammous, economist and author of The Bitcoin Standard, is another Bitcoin advocate who’s now involved in El Salvador’s governance after joining as an economic adviser to its National Bitcoin Office.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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