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CoinMarketCap Newsletter, June 10: Solana Raises Millions, El Salvador Mines BTC With...Volcanoes

Published on:
June 10, 2021

CoinMarketCap gives you an update on the hottest trending stories and data in the crypto space today.

CoinMarketCap Newsletter, June 10: Solana Raises Millions, El Salvador Mines BTC With...Volcanoes

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Today’s Top Crypto News Stories

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Solana Labs Raises $314M in Private Token Sale 💸

The developer of the Solana blockchain, Solana Labs, raised $314 million today in a private token sale. This jaw dropping round was led by Andreessen Horowitz and Polychain capital, with other big names like Alameda Research and CoinShares participating. In this somewhat bullish, somewhat bearish market, it always brings a smile to the face to see how much money people are willing to invest in the future of blockchain projects. 

El Salvador Keeps the Bitcoin Heat Up With...Volcanic Mining?! 🌋

After yesterday’s landmark passing of a bill making Bitcoin legal tender in El Salvador, the Latin American country keeps making crypto headlines — this time by saying that Bitcoin miners can use the country’s volcanic resources to mine. According to El Salvadorian president Nayib Bukele, the plans for volcanic BTC mining will be “100% clean, 100% renewable, 0 emissions energy.” How do you like that, Elon Musk?

Banking Supervisory Declares Bitcoin a ‘High Risk’ Asset 😲

The Basel Committee on Banking Supervision, a committee established by central banks in 1974, said today that banks need to adhere to some tough capital requirements in order to hold Bitcoin and cryptoassets. According to Basel, cryptoasset’s increasing popularity can “raise financial stability concerns and increase risks faced by banks.” This isn’t the bad news you might think! The crypto market seemed to expect a worse directive, and so responded to this “risky” branding with BTC jumping to above $38K! Go figure!

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