Mercado Bitcoin to resume cash withdrawals after $49M hack

The funding, backing a U.S.-incorporated issuer codenamed “Project Faro,” covers five years of operations as traditional lenders move to challenge crypto-native giants Tether and Circle.

Lee pointed to the steady and visible tokenization progress this year, with the majority on Ethereum, as a reason to stay patient.

A 6.5% cut would improve gross mining revenue at unchanged Bitcoin price, subsidy and fees, while modeled S19 electricity ceilings remain near 4 cents/kWh. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox

The venture, known as Project Faro, plans to issue a dollar-denominated stablecoin and is expected to be incorporated in the U.S.