Crypto Breakfast: Bitcoin Breaks New Record, Country Bans Crypto

Good morning crypto insiders, in this article we present a summary of the most important events in the crypto world that took place last night.

This way you always stay up to date with the latest developments. More detailed articles on these topics will be published on Crypto Insiders later today.

Bitcoin mining difficulty at ATH

We start with an increase in the so-called Bitcoin (BTC) mining difficulty. This difficulty, as the name suggests, is the difficulty of mining new BTC. The higher the difficulty level, the more intense it is for miners to achieve achievements.

A high difficulty level is good for Bitcoin. This means that a large amount of computing power is available in the form of the hash rate. The higher this computing power, the more secure the network is. Every 2,016 blocks the difficulty level is automatically adjusted and increased by 8% this morning.

Honduras bans crypto

At the same time, there is also less good news. The Central Bank of Honduras has announced that it will ban banks from transacting and holding cryptocurrencies. The central bank is unable to guarantee the security of crypto transactions and therefore it is better to switch to a ban, according to the authority.

This is a major setback considering that another country in the region, El Salvador, is extremely pro-crypto. Although from the beginning the government of Honduras was strongly opposed to the policies of pro-Bitcoin President Nayib Bukele. A crypto ban is now a reality in the country.

The insolvent crypto lending company pays back properly

In 2022, major crypto lending company Celsius went bankrupt amidst major chaos in the crypto market. It was a huge blow, especially for Celsius customers. People who had money on the platform were able to fiddle with their money.

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The first payments to creditors are now being processed by Celsius. According to court documents, Celsius recently returned around 20,500 BTC worth more than $2 billion to creditors. Good news for everyone involved.

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