Core Scientific Bankrupt
Miners are certainly experiencing a cold winter, with behemoth public miner Core Scientific today announcing a restructuring plan involving a filing for Chapter 11 bankruptcy. 
📝 Today's Rundown
  • 🔬 Core Scientific: One of the largest publicly traded miners has filed for bankruptcy.
  • 🚫 Paxful Removes Eth: The P2P crypto exchange has removed ethereum support.
  • 🏓 Bitcoin And Pickleball: What these two have in common.
Learn More
A Bitcoin 2023 Treasure Hunt
We're pleased to introduce the Daily Newsletter's Bitcoin 2023 Discount Treasure Hunt! 

Each week, a single-use unique code in the format of "BMDAILY50[X]" (with [X] being varying bitcoin terms) will appear in a random spot in one of the daily newsletters. The day will be picked at random as well. The code will get the lucky winner 50% off tickets (fiat payments only) to the Bitcoin 2023 Conference in Miami, happening May 18-20.

Be sure to check the daily newsletters as soon as you receive them to try and win! 
🔬 Core Scientific

Giant Bitcoin Miner Core Scientific Files For Bankruptcy
By Namcios

Core Scientific, a large bitcoin mining company in the United States, has filed for Chapter 11 bankruptcy protection due to a decline in the company's operating performance and liquidity.

The filing follows reports that the company would seek bankruptcy protection due to the prolonged decrease in the price of bitcoin, the increase in electricity costs, and the failure of certain hosting customers to honor their payment obligations.

Core Scientific plans to continue operating as it navigates the restructuring process and has entered into a restructuring support agreement with the Ad Hoc Noteholder Group, which represents more than 50% of the holders of its convertible notes.

The company expects to emerge from the restructuring process and continue operating its existing self-mining and hosting operations.
Read The Full Article

🚫 Paxful Removes Eth

Crypto Trading Platform Paxful Delists Ethereum In 'Integrity' Move: CEO
By Namcios

Paxful, a peer-to-peer cryptocurrency trading platform, has announced that it will delist ethereum.

Paxful CEO Ray Youssef stated that the decision was made due to Ethereum's shift to a proof-of-stake consensus mechanism, lack of decentralization and the proliferation of scams within its ecosystem.

Youssef said that Ethereum's move to proof-of-stake has made it essentially a "digital form of fiat" and that a small group of insiders exert significant influence on the cryptocurrency project.

He also claimed that Ethereum has "thrived because of tokenization" and that this has led to numerous scams that have robbed people of billions.

Ethereum will be removed from the platform on December 22nd. Paxful will continue to offer stablecoins for trade, as Youssef believes they have "real use cases."
Read Full Article
Get Your Tickets Here!

📰 The Daily Bits
⛓️ Layer 2, led by Paul Sztorc, is on a mission to bring privacy, scalability and better UX solutions to Bitcoin.

🦑 Kraken cryptocurrency exchange introduces support for Taproot.

📂 Glancy Prongay & Murray LLP has filed a lawsuit against Iris Energy Limited on behalf of investors.

✊ Michael Saylor: The fiat monetary system is "brutally unfair."
Learn More

🏓 Bitcoin And Pickleball

Made For Each Other: How Pickleball Embodies The Values Of Bitcoin
By Hector Alvero

Pickleball is a sport that combines elements from various racquet sports and is characterized by its focus on patience and consistent execution of basic shots.

The sport embodies the values of Bitcoin, as both value self-improvement, learning and fun. The sport was created in 1965 by three dads who wanted to find an activity for their families to do during the summer, and it combines paddles, a net, and a plastic ball to create a unique game.

Bitcoin 2023 Tickets Treasure Hunt: BMDAILY50SATS

The sport is also said to have a "low time preference," similar to the value of patience in Bitcoin, and the language of Pickleball has many similarities to the language of Bitcoin.
Read Full Article
Learn More

MEME OF THE DAY 

By @MemeingBitcoin

Despite what critics say, Bitcoin usage is actually quite simple compared to legacy financial tools. Teach your grandparents how to use Bitcoin today! 

Stack some sats,
@BtcCasey

BTC Inc. Is Hiring!

We're looking for dedicated Bitcoiners to join our team.

Current openings:
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