Crypto

New Arkansas laws regulate cryptocurrency mining

Published

2 years ago

May 13, 2024

New Arkansas laws regulate cryptocurrency mining

Gov. Sarah Huckabee Sanders has signed two laws regulating cryptocurrency mining in Arkansas, following months of outcry from lawmakers and their constituents.

Much of the push for mining regulation comes from a woman named Gladys Anderson. She lives next to a crypto mine in Bono, a neighborhood near Greenbrier. It’s a rural farming community, where residents say they woke up one day to hear a constant shrieking and humming sound coming from the mine.

Anderson lives closest to it, just a few hundred feet away. Her story has since gone national; speaking on CBS News, she called the noise “torture.”

The criticisms of these machines, which generate cryptocurrency like Bitcoin, fall into three buckets; they’re too loud, they’re bad for the environment, and they have foreign ownership ties that make a lot of people uncomfortable.

The Arkansas Legislature’s fiscal session, which formally adjourned last Thursday, was designed by law to focus only on budget matters. But, this year, lawmakers made an exception for this one issue.

One of the bills was championed by Sen. Joshua Bryant, R-Rogers, who explained his support for the legislation this way.

“Once they’re up and operating under existing ordinances/laws that they don’t just get arbitrarily or capriciously banned,” he said.

In the 2023 legislative session, Bryant sponsored a bill which later became Act 851. The law almost entirely deregulated the mines, prohibiting local governments from putting restrictions on them. Since then, there has been an influx of crypto mines in Arkansas and, with them, controversy about the noise and operations. Bryant says he doesn’t want to repeal that law.

“Repeal really wasn’t the option. What was the option was to create a state framework like we did with auto racing in the ’90s, with auto and gas compressors in the 2000s, to have some state oversight on this industry in order to control it when counties don’t want to step up and do it themselves,” he said.

Bryant says he just wants to give counties the power to regulate the mines, as well as the state if counties choose not to. He says he’s met with leaders in the crypto industry, and doesn’t think the practice is inherently bad. He wants to crack down on “one or two bad actors.”

“[If] they would have complied or been better neighbors a year ago, this wouldn’t have really be a conversation,” he said. “Because crypto mines have been operating in our state for over a decade.”

The first new law allows the mines to operate if they comply with noise ordinances. They have to be 2,000 feet from a residence and can’t be controlled by a “prohibited foreign party-controlled business.” The second new law subjects mines which break the rules to civil penalties.

One of the few lawmakers to vote against the bills was Rep. Andrew Collins, D-Little Rock. He doesn’t like the part of the bill that bans foreign ownership of the mines. There is some evidence tying crypto mining in general to the Chinese government.

Collins says this could be a slippery slope.

“We need to be very careful when we say that somebody can’t do something, or doesn’t have the right to either own property or exercise the right to make a living based on being in a category,” he said.

Collins asked Bryant, who sponsored one of the bills, about this during a committee meeting.

“Effectively, if you’ve got somebody from, say, Venezuela, and they are trying to move to America and they are trying to become a citizen and they are functioning within the confines of the law, completely innocent, no issue. They are not allowed to make an investment.”

Bryant didn’t share his concerns.

“If you come here and you open a facility here that uses our natural resources, that has potential cyber security threats to our grid and other entities, and you are connected to said grid, where do your loyalties lie and what will they be asking of you?”

Collins said he wanted to see better evidence than what he heard in Byrant’s answer. He also says the laws don’t actually address one of the biggest issues; they don’t turn down the noise.

“[The] only thing that a crypto mine operator has to do is apply noise reduction techniques,” Collins said. “They can be very ineffectual.”

One of the laws lists examples of things such as liquid cooling which could be used to keep the mines quiet. But, it doesn’t force the mine’s owners to turn the sound down. Bryant says he is enforcing an industry standard.

“A lot of my colleagues didn’t want the government to control the noise,” he said. “Some thought if you live in a county and the county does not want to pass any ordinances that require, as a whole, the community to mitigate their noise, why are we telling a business to do something that we are not telling everybody to do?”

Gladys Anderson, who lives next to the Bono crypto mine, said she doesn’t trust what Bryant says about the law. But, she says she is trying to remain positive about it.

Faulkner County passed an ordinance capping noise at 60 decibels, a level both Anderson and Little Rock Public Radio have measured the mines exceeding. She is joining with other residents in her community to sue over the noise. Bryant says, because of the new laws, she now has options.

“They’ve got 90 days to comply. I think it will solve the issue. If not, the state will have jurisdiction once the rules are promulgated, or the community of the surrounding neighbors will have standing in court to make sure they follow one of those noise mitigating procedures.”

An attorney representing owners of the Bono cryptocurrency mine did not respond to Little Rock Public Radio’s request for comment.

Crypto

Strategy Signals Bitcoin Supply Shock With 2.2x New BTC Supply Acquired and 24,675 BTC Gain

Published

9 hours ago

April 7, 2026

Press Room

Strategy Signals Bitcoin Supply Shock With 2.2x New BTC Supply Acquired and 24,675 BTC Gain

Key Takeaways:

Strategy Inc. reported acquiring 94,470 BTC in 2026, reaching 2.2x bitcoin supply absorption.
Bitcoin treasury metrics indicate 3.7% yield, generating 24,675 BTC worth about $1.7 billion.
Michael Saylor stated sub-$100K bitcoin window may close in 2026 amid rising demand.

Strategy Bitcoin Accumulation Outpaces Network Supply Growth

Strategy Inc. (Nasdaq: MSTR) shared on social media platform X on April 7 that it accumulated bitcoin faster than new issuance. The firm emphasized supply absorption and yield performance. The update framed its activity against bitcoin’s fixed issuance schedule and tightening supply dynamics.

The update outlines year-to-date performance figures showing acquisition at 2.2 times the natural bitcoin supply alongside a BTC yield of 3.7% and a BTC gain of 24,675, valued at approximately $1.7 billion. The accompanying image breaks down how this performance developed across both quarterly and cumulative periods. In Q1 2026, Strategy reported acquiring 89,599 BTC while generating a BTC yield of 3.2% and a BTC gain of 21,329. The visual also presents a corresponding dollar gain of $1.4 billion for the quarter. Year-to-date totals extend these figures to 94,470 BTC acquired, reflecting continued accumulation and improved yield efficiency over time.

Bitcoin Supply Mechanics Highlight Strategy Market Impact

Bitcoin supply mechanics provide the baseline for measuring this activity. Following the 2024 halving, each mined block produces 3.125 BTC, while the network averages about 144 blocks per day. This results in roughly 450 BTC entering circulation daily, a figure observable through on-chain data. Over a period of roughly 90 to 100 days, issuance totals about 40,000 to 45,000 BTC. Against this level, Strategy’s reported acquisition of 94,470 BTC results in a ratio slightly above 2.0x, aligning with its stated 2.2x depending on timing and block production variability.

Strategy Executive Chairman Michael Saylor framed this dynamic through the concept of supply absorption, describing how capital access allows entities to outpace bitcoin’s fixed issuance. He recently stated: “We can buy more bitcoin than they can sell.” With roughly 450 BTC produced daily, sustained buying can absorb both newly mined coins and available exchange liquidity. Saylor also described a reflexive flywheel, where capital raises fund additional bitcoin purchases, reducing available supply and increasing volatility. The approach emphasizes that bitcoin’s limited supply creates competition among market participants, framing the asset as digital property with constrained acreage. He added: “2026 will be known as the last year you could buy bitcoin at sub-$100K.”

Additional dashboard data expands on the company’s broader financial and market positioning alongside its bitcoin strategy. Strategy shows a share price of $123.63 with a daily decline of 3.18%, while reporting a market capitalization of $42.88 billion and an enterprise value of $59.17 billion. The dashboard lists trading volume at $724 million and a 30-day average trading volume of $2.62 billion. Volatility metrics include 76% implied volatility, 55% 30-day historical volatility, and 72% one-year historical volatility. The company also reports open interest of $29.97 billion, an mNAV ratio of 1.13, and an amplification figure of 36%, indicating how equity performance relates to underlying bitcoin exposure.

Crypto

Crypto Investment Scams Were the Most Costly Type of Fraud in the U.S. in 2025

Published

21 hours ago

April 7, 2026

Press Room

Crypto Investment Scams Were the Most Costly Type of Fraud in the U.S. in 2025

Americans lost $7.2 billion to crypto investment scams in 2025, according to a new report from the FBI, making it the top source of financial losses from fraud reported to the agency last year. Many people don’t call the FBI after getting scammed, which means the real total is likely far larger.

The news comes from the FBI’s 2025 Internet Crime Complaint Center (IC3) annual report, released Monday, which tracks not just crypto investment fraud, but online scams targeting the elderly, and ranswomware attacks, among others. The agency received 1,008,597 total complaints in 2025, up from 859,532 complaints in 2024. The total amount lost was over $20 billion last year.

Investment fraud was the most common type of scam reported, accounting for 49% of all cyber-related complaints in 2025, with a majority of those related to crypto investment scams.

Crypto investment scammers make an effort to appear like legitimate operations, promising huge returns to unsuspecting marks. Victims are first contacted through a number of ways, including text messages, social media, Google ads, and dating apps. Scammers will sometimes set up websites made to look like investment platforms where victims can send crypto and watch as their profits tick up steadily.

What the victim doesn’t understand is that the number they’re seeing rise each day is fake. The crypto has been sent to the scammers and the number they’re seeing in their supposed account is not real. The website is a mirage that isn’t actually holding their crypto, whether it’s bitcoin, ether, or any number of shitcoins. But as that number rises, the scammers encourage the victims to “invest” even more.

What happens when you try to extract any of that money? That’s where the victim might start to get suspicious. Because there’s always an excuse. And more often than not, the scammers will tell a victim that there are fees for withdrawing money.

The FBI has released its IC3 report annually for 25 years and 2025 is the first year that features a section on artificial intelligence. The FBI received 22,364 complaints about AI-assisted crimes, totaling $893 million in lost money. But that’s likely a vast undercount of the problem, given the fact that many people don’t send a report to the FBI when they get scammed, and others likely have no idea they’re talking with people who uses AI tools for impersonation.

Scammers will often use AI audio, video deepfakes, or fake documents created with generative AI imaging tools to convince victims they’re legitimate. Elon Musk is one of the most popular figures that crypto scammers will impersonate, as Gizmodo has reported in recent years. Scammers will often try to convince potential victims that they’re talking to the real Tesla CEO and convince people to invest in his businesses with cryptocurrencies.

Gizmodo filed a Freedom of Information Act request with FTC in 2024 that revealed some of the stories from people who were scammed by Elon Musk impersonators or people who said they were associated with the billionaire. One of the complaints was from a victim in their 50s from Michigan who said they lost $700,000.

The story is exceptional for the amount of money lost, but the techniques are common enough that they’re worth quoting at length:

In the end of June, 2023 I responded to Elon Musk’s day trading commercial on Instagram. I got a phone call from a person and started online trading with XT-BestSolutions. I’m dealing with one person [redacted] over the Viber phone services. He said he’s based in Barcelona, Spain. He guided me through the trading process daily on the XT-BestSolutions trading platform.
He also guided me through the process of transferring my money from my US Huntington bank account through Crypto wallets to XT-BestSolutions trading platform. All transaction were made through different Sources to change US dollars to cryptocurrency.
Starting on June 30, 2023 to current date, I transferred $700,000 to my XT-BestSolutions account. Through the process of online trading, XT-BestSolutions company credited me $200,000. Even though I still have more than $700,000 in my XT-BestSolutions trading platform account, I cannot withdraw any money back until I add $200,000 more to my XT-BestSolutions account to cover this additional credit, and after this (accordingly to what he saying) I will be able to withdraw all $900,000.
Its become more suspicious to me because I am not able to get information about the company, such as an address, email address or any other contact information except the phone number and one person I communicating with. [redacted]
My accountant has advised me to contact the FBI before I make anymore money transactions.

Other crypto scams include celebrities like Johnny Depp or Donald Trump, but romance scams are another popular category of investment fraud. Sometimes referred to as pig butchering, scammers will often pose as attractive people who lure unsuspecting marks with promises of love but wind up giving “investment” advice.

Victims are encouraged to contact the FBI, but the public should be aware that there are also plenty of scammers posing as FBI agents, specifically employees of the IC3.

Crypto

Solana Foundation Launches STRIDE Security Program for DeFi Protocols Following Drift Incident

Published

1 day ago

April 6, 2026

Press Room

Solana Foundation Launches STRIDE Security Program for DeFi Protocols Following Drift Incident

Key Takeaways:

The Solana Foundation and Asymmetric Research launched STRIDE on April 6, 2026, a tiered DeFi security program covering all protocols.
Protocols exceeding $10M TVL qualify for foundation-funded 24/7 monitoring, while those above $100M TVL receive formal verification.
The new Solana Incident Response Network (SIRN) unites five founding firms, including OtterSec and Neodyme, for real-time crisis coordination.

Solana Foundation Debuts STRIDE to Protect DeFi Protocols With Tiered Security

The program, which stands for Solana Trust, Resilience and Infrastructure for DeFi Enterprises, moves away from the traditional model of one-off audits and replaces it with continuous, foundation-funded protection scaled to each protocol’s size and risk profile.

STRIDE is structured around eight security pillars covering operational security, access controls, multisig configurations, and governance vulnerabilities. Asymmetric Research conducts hands-on assessments of participating protocols and publishes findings in a public repository, giving users and investors direct visibility into each protocol’s security standing.

All Solana DeFi protocols are eligible to apply. Every participating project receives an independent evaluation and a published report regardless of size.

Image source: X on April 6, 2026.

The announcement explains that protocols that pass the STRIDE evaluation and hold more than $10 million in total value locked (TVL) qualify for foundation-funded 24/7 operational security support and real-time threat monitoring. The monitoring is calibrated to risk, meaning higher-value protocols receive more intensive coverage aimed at catching suspicious activity before it escalates.

For the largest protocols, those managing more than $100 million in TVL, the Solana Foundation funds formal verification. This method uses mathematical proofs to check every possible execution path in a smart contract, eliminating entire classes of vulnerabilities that standard audits can miss.

STRIDE version 0.1 is live now and is expected to evolve as real-world assessments provide feedback.

Alongside STRIDE, the foundation launched the Solana Incident Response Network, known as SIRN, a coalition of security firms dedicated to real-time crisis response across the ecosystem. Founding members include Asymmetric Research, OtterSec, Neodyme, Squads, and Zeroshadow. SIRN is open to all Solana protocols, with response prioritized by TVL and potential impact.

The program builds on existing no-cost tools the Solana Foundation has already deployed, including Hypernative for ecosystem-wide threat detection, Range Security for real-time risk alerting, Riverguard by Neodyme for attack simulation, Sec3 X-Ray for static analysis, and Auditware Radar for template-based issue detection.

Drift Protocol Hack 2026: What Happened, Who Lost Money, and What’s Next

A Solana-based perpetual futures exchange lost $286 million in 12 minutes on April 1, 2026, after attackers spent three weeks…

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Drift Protocol Hack 2026: What Happened, Who Lost Money, and What’s Next

A Solana-based perpetual futures exchange lost $286 million in 12 minutes on April 1, 2026, after attackers spent three weeks…

Read Now

Drift Protocol Hack 2026: What Happened, Who Lost Money, and What’s Next

Read Now

A Solana-based perpetual futures exchange lost $286 million in 12 minutes on April 1, 2026, after attackers spent three weeks…

Projects like Squads Multisig, Kamino, and Jupiter Lend have already set high internal security standards, with ten or more audits across some protocols. STRIDE is designed to extend comparable protections to teams that lack the resources to fund that level of coverage independently.

The Solana Foundation also participates in the Crypto Defenders Alliance for cross-industry fraud prevention, and STRIDE adds a Solana-specific layer on top of those broader efforts. The initiative follows the recent $286 million Drift Protocol hack, which was the largest DeFi breach so far in 2026.

Drift Protocol is the largest perpetuals exchange on Solana and it saw its TVL slide from $550 million to the current $234 million. The project’s token, DRIFT, as of 6:30 p.m. Eastern time on Monday, is down more than 37% over the last seven days. DRIFT is 98.5% below the crypto asset’s all-time high of $2.60 logged in November 2024.