In today's crypto news, Elon Musk received backlash for altering the X social media algorithm to promote specific content types, aiming to reduce negativity. Critics viewed this change as censorship, emphasizing the subjective nature of identifying negative content. Meanwhile, at least 15 wallets suspected of insider trading capitalized on the Focai.fun (FOCAI) memecoin launch on Solana, turning a modest $14,600 investment into over $20 million, raising concerns about decentralization risks. The FOCAI token's market cap peaked at over $46 million but later dropped to $39.6 million. Additionally, Bitcoin's hashrate hit a new all-time high of over 1,000 exahashes per second, significantly up from 510 EH/s in January 2024. This uptick in hashrate, despite the impending Bitcoin halving event, reflects miners' increased investment in computational capacity, as JPMorgan raised price targets for several Bitcoin mining stocks in response to the growing value of their BTC holdings.

Source 🔗