The sports recruitment firm initially disclosed in April its intention to acquire the entirety of the issued and outstanding membership interest of One Blockchain. The aim is to establish a new entity, with both Signing Day Sports and One Blockchain operating as subsidiaries.

In a recent development, Signing Day Sports confidentially filed a draft registration statement of the proposed business combination with the Securities and Exchange Commission. This move saw the company’s stock price skyrocket by 89%, reaching $2.34.

For further inquiries, contact Nicholas G. Miller at nicholas.miller@wsj.com.

© 2025 Dow Jones & Company, Inc. All rights reserved.

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Neuralink, founded by Musk, is a neurotechnology company that aims to connect human brains directly to computers via brain-computer interfaces. It’s part of a broader goal to assist individuals with neurological disorders like paralysis or blindness. Musk also imagines that Neuralink could facilitate high-bandwidth communication between humans and machines, potentially merging human cognition with artificial intelligence.

Tether’s strategic investment of $200 million in Blackrock Neurotech in April 2024 made it the majority stakeholder in the company, which was established in 2008 by scientists and brain-computer interface (BCI) pioneers Dr. Florian Solzbacher and Marcus Gerhardt at the University of Utah. Blackrock Neurotech’s technology has already enabled patients to control robotic arms, wheelchairs, send messages, surf the internet, and even drive a car using only their thoughts, according to Tether.

“In my opinion, they are significantly more advanced than Neuralink at this point,” Ardoino stated to The Block. “They already have over 40 patients. The next generation of the brainchip is just incredible.”

Like Musk, Ardoino also dreams of developing a unique “brain operating system” in the future. “What I want to do to set us apart from everyone else is to build an open-source brain operating system. I believe that this will be the next smartphone in the next 15 to 30 years,” he expressed.

“We might be on time to build an open-source technology that ensures no one is controlled by a tech giant. I’m a cautious person, so I want to make sure that everyone is on a level playing field,” he added.

In recent years, Tether, which generated a profit of roughly $13 billion in 2024 with a team of fewer than 200 and now holds over 100,000 BTC ($10 billion), has been assertively investing in a range of projects beyond stablecoins in various sectors, including artificial intelligence, telecommunications, data centers, energy infrastructure, and bitcoin mining.

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The vibrant realm of Bitcoin mining has recently seen an unexpected surge in activity, as Bitcoin miners have begun significantly increasing their interaction with exchanges. A record amount of Bitcoin is being sent to exchanges by miners, grabbing the attention of crypto enthusiasts worldwide.

On-chain analytics leader, Glassnode, has been diligently monitoring these transactions. Their recent findings indicate that Bitcoin miners have been interacting with exchanges at an unprecedented level, pushing an all-time high of $128 million worth of Bitcoin to exchanges.

Miners’ Record Transactions and Implications

The report by Glassnode highlights the substantial amount of funds in motion. The $128 million dispatched to exchanges by Bitcoin miners is tantamount to 315% of their daily revenue.

Usually, transferring coins from miner or investor wallets to exchanges signals an intent to sell or liquidate assets. Yet, in this scenario, it could also signify optimism about Bitcoin’s potential future price.

Impact on the Market and Recent Developments

Bitcoin miners’ earnings are intrinsically connected with Bitcoin’s price. As such, miners often boost their sales when they believe the market can withstand the additional supply influx. This recent action might suggest a robust confidence in the current market strength.

In their subsequent tweets, Glassnode identifies a mounting trend towards strong accumulation and self-custody, particularly in light of recent issues with LUNA and FTX. This indicates a growing preference among investors and miners to control their assets rather than relying on third-party custodians.

Despite this, Bitcoin has experienced a slight dip in the past 24 hours, falling by 0.6%, but maintains a trading price above the recently regained $30,000 mark.

Bitcoin’s Resilience and Market Cap Growth

Bitcoin, despite intensive regulatory scrutiny from the United States Securities and Exchange Commission (SEC) affecting major crypto exchanges like Binance and Coinbase, managed to surge from trading below $25,000. In response to allegations of offering unregistered securities, BTC demonstrated a quick recovery, adding more than $100 billion to its market cap in the past 14 days, marking a 16.8% increase.

Interestingly, BTC’s daily trading volume has seen a decline over the past week, dropping from a high of $31 billion to a low of $16 billion in the last 24 hours.

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The Arctic blast and winter storm that hit the United States over the holiday weekend knocked out power to thousands of homes and businesses, CNN reported, and claimed the lives of at least 22 people due to the dangerously low temperatures and the toppling of power lines by the storm’s wind gusts and heavy snowfall.

The hash rate, which is a measure of how much processing power is being utilized to process transactions, was falling considerably, signaling a huge shift on the Bitcoin network. From Saturday to Sunday, the average hash rate declined by almost 30% to 155 EH/s (from 230 EH/s), as reported by CoinMetrics. After the National Weather Service warned of the approaching Arctic blast, several large mines halted operations.

Riot Blockchain, a cryptocurrency mining company, said that it would be halting its Rockdale site in Texas due to the severe weather. There were several miners that mirrored this posture. In their latest bankruptcy filing, Core Scientific promised to participate in several power curtailments to assist stabilize the electrical grid.  Core Scientific predicted on Twitter that bitcoin would dip at this period.

Compass Mining’s head of mining operations, Neil Galloway, warned Twitter followers to “be prepared for some ups and downs this weekend as we battle with the winter storm.” The company’s Texas sites had also been taken down. They explained that pPeople might now use their stoves and ovens again since your miner was down.

The weather has presented a new set of difficulties for bitcoin miners in the United States. They can’t mine if the power goes off for an extended period of time since their processes need constant, steady energy. According to the Cambridge Centre for Alternative Finance, at least 37% of the world’s Bitcoin hash rate originates in the United States.

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Bitcoin and other proof-of-work coins are mined by Core Scientific. In order to verify transactions and issue new tokens at the same time, the procedure requires the powering of data centers around the region equipped with highly specialized computers. This procedure calls for high-priced machinery, some technical expertise, and a substantial amount of power.

As of Tuesday’s close of trade, Core was valued at $78 million, down from a high of $4.3 billion in July 2021, when it went public through a special purpose acquisition vehicle or SPAC. Over the last year, the stock price has dropped by more than 98%.

A source close to the firm reports that it is still making money, but not enough to cover the financial debt it incurred while leasing equipment. This source, who asked not to be identified as discussing internal company affairs, said that the firm would not be going into liquidation but would instead continue business as usual while it negotiates with senior security noteholders, who control the vast majority of the company’s debt.

While Core warned shareholders in an October filing that they risked a complete loss of their investment, this may not be the case if the sector as a whole begins to show signs of improvement. Core’s convertible note holders have struck a contract that protects them from complete ruin in the event that bitcoin’s economic climate improves. In addition, the firm said that it would not be able to make the debt payments that were due in late October and early November and that its creditors were free to file lawsuits against it for nonpayment.

The price of bitcoin, which is predominantly minted by Core, has fallen from a record high of almost $69,000 in November 2021 to roughly $16,800. Profit margins have shrunk because of the decline in value, more competition from other miners, and higher costs of producing and using energy.

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Posting a position for a “test hub lead” on LinkedIn on Saturday, the company boasted that they create “bitcoin mining ASIC, bitcoin mining rig, and related systems, software, and infrastructure.” According to the ad, the test center will house Block’s mining equipment and be used to test the hardware, software, and overall operational problems (power, cooling, dust, restart, performance monitoring, connection to pool) of the mining system.

To create its first mining rig and future mining rig product lines, the company is also looking for the product and technical professionals to work on “developing the next generation of mining ASIC.” It also has several jobs that have anything to do with wallet layout. In the spring, Block introduced its Bitcoin hardware wallet to the public.

Block Background

Block, which used to be called Square, is betting a lot on Bitcoin and other decentralized financial systems. For example, earlier this month, Block’s TBD decentralized banking subsidiary launched stablecoin cooperation with Circle. Thomas Templeton, the general manager for hardware at Block, told CNBC in January about the company’s plans for Bitcoin mining.

According to user feedback, current systems suffer from heat dissipation and dust accumulation. They also regularly break down, necessitating a tedious reset every day or so. We want to make something that “simply works,” as Templeton put it on Twitter. Not only are they very loud, but they are also not good for use in a private home.

In a time of industry hardship, Block is doubling down on mining. In the last few months, fluctuating energy costs, a rising global hash rate, and harder mining have all made it more difficult for businesses to make a profit.

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Bitcoin is resistant and it has gained pace. It might be lower than S19500 in the short term.

• Bitcoin gained pace above the resistance level of $19500 and $19,600 levels at the time of writing.
• Bitcoin price is now trading over the level of the $20,000 level and the 100 hourly simple moving
• average at the time of scripting.
• At the time of scripting, there was a move above the bitcoin key bearish trends line.  The resistance is near 19,460 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• Bitcoin has gained pace, and the pair is tested above the resistance zone of $20,500 at the time of writing

Bitcoin Gained Pace

The BTC price of forming a base above the support zone is $18,720.  

As a result, BTC started a decent increase and broke the $19,500 resistance zone.

Furthermore, there was a clear move above the key bearish trend line with resistance near $19,460 on the hourly chart of the BTC/USD pair. 

Even the price broke the $20,000 resistance. It is settled above the 100 hourly simple moving average.

Bitcoin climbed above the 76.4% Fib retracement level of the key drop from the $20,500 swing high to the $18,735 low. However, the bulls struggled to pump the price above the $20,500 resistance zone at the time of writing.

In addition, a high is forming near $20,450, and the price is consolidating gains. Bitcoin has gained pace and is trading above the 23.6% Fib retracement level of the recent increase from the $18,738 swing low to the $20,450 high. 

On the upside, the price is facing resistance near the $20,450 and $20,500 levels.

Technical Indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 levels.

Major Support Levels – $20,000, followed by $19,500.

Major Resistance Levels – $20,500, $20,920 and $21,500.

Read More: Visa launches exclusive ‘no-limit’ Bitcoin card in UAE

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Visa Inc is the world’s largest payment network that has launched an exclusive VIP crypto credit card known as ‘bitcoin block’. It is known as Bitrcoinblack in the  United Arab Emirates, a press release stated on July 3.

Furthermore, as per the recent press release, the card was first launched in 202. It is available by inviting only 10,000 members around the globe. It allows teh users to convert their Bitcoin (BTC) as well as other major cryptos into spendable cash. Also, invitations are requestable via the bitcoin black website.

Reportedly, the card is getting security by the holder’s cryptocurrency. Also, it offers premium benefits such as a no-spend limit in any place in the world where Visa is acceptable. As well as rewards of up to 10% back in exclusive SPND tokens.

Visa Offering Easy access to luxury goods via crypto

This Visa’s exclusive card allows its owners to spend rewards on various luxury items. The user can spend th in bitcoinblack’s Haute Living Luxury Marketplace. It is “a curate-able online boutique that includes luxury watches, purses, cars, charter jet deals, private mansion access and more. It will be launching soon.

Read More: El Salvador Buying the Dip: Bitcoin at $19K to Reap Drastic Benefits

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Cryptocurrencies are the digital gold of today’s era. However, with each passing day, Bitcoin has been going downwards since Nov 2021. This is when the markets are at their best, and crypto is hitting the all-time high of $3 trillion. 

Therefore, some believe that BTC is dead for the 458th time. The Critic of bitcoin has often come forward when the markets are getting hit with the regulations, rate hikes or tightening policies.

As per 99Bitcoins’ data, the largest reserves of the cryptocurrency have been called “Dead”. This is a minimum of 458 since 2010, and even 19 cases were recorded this year. 

However, the Co-Founder of ReSource, Ashley Taylor Buck, believes that Bitcoin is still alive “more than ever.” 

“It is the strongest use case for a third, neutral, non-partisan monetary system. It is the only large-scale, truly decentralized network that will handle the volume of cash necessary for sovereign and nation-states to trust and transact with each other. There is also no chance it can disappear because the blockchain is running on satellites in space,” Buck told Be[in]Crypto.

Furthermore, Buck has also given two of the most important reasons. One on a macro level responsible for the latest crypto crash is the US Federal Reserve’s (Fed) rate hike. Second is the alarming levels” and mass overleveraging with margin calls and liquidations. 

In addition, Celsius Network’s flush of liquidations has also had a major impact on the decentralized finance (DeFi) ecosystem. Also, Buck believes that Celsius’s recent actions will potentially cause long-term damage.

Is There Any Hope or Bitcoin Dead?

The crypto space has lost around two-thirds of its all-time high total market capitalization since Nov. 2021. However, with the current bullish moves and funding, Magic Eden’s $130 million deal. 

For example, the market has also shown signs of hope. According to CoinMarketCap data, the industry’s market cap is consolidating around the $940 billion mark.

Buck says that the real projects will continue to build, and the fundamentals remain intact. She says that the retail perception and trust of the space have changed. The dynamics are changing because of the circumstances, and they will take time to recover because it’s “hard to bring trust back

Suggested Reads: Crypto Crashed. Here’s How Crypto Investors Can Fix Things

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After a wick down to under $18,000 at the weekend, bitcoin has now stabilized and is enjoying a rally, having recaptured the major support at around $19,500. The number one cryptocurrency is at $21,300 at the time of going to press.

After a two-week slump from around $32k, which also included a record-breaking 8 red daily candles in a row, bitcoin now appears to have gathered itself, and a bounce is currently taking place.

With much bearish sentiment still in the market, and other potential liquidations still in the pipeline, it’s not at all certain that the bounce in the crypto market will contain much vigor.

A downward sloping trendline that began on May 11 is one possible target. By the time the bitcoin price reaches it again it could be at around $25k. If there is no rejection here, then perhaps we could see bitcoin returning to test the previous $29,000 to $30,000 major support, which has now flipped into resistance.

Bitcoin Bounce Bringing Back the Life in Cryptos

Bitcoin’s small bounce has also brought the altcoins back to life, however temporary a time that may be. Ethereum has bounced a nice 30% over the last 3 days or so, and has climbed back above a very long upward sloping trendline that began way back in early March of 2020.

Where the price right now at $1,150, also coincides with a retaking of the 78.6 Fibonacci level. This is therefore very strong support for ethereum, and an incredibly important level to hold. $1,400 is the next target to the upside, with $1,700 above that.

Among the altcoins that have also reacted strongly is LINK. The number one oracle play has risen over 40% since its bottom, and it’s now sitting at the $7.35 resistance. Consolidation above this level might see it go higher to $9.60, which could be the next target.

MATIC, layer 2 for ethereum, has also bounced back around 40%. It’s now hit a resistance that was formed back in April of 2021. Should it manage to consolidate above, then the 78.6 fib beckons from above at a price of $0.63, which would equate to nearly a third increase.

Zilliqa (ZIL) fell to its June 2020 support and has bounced back strongly since then, recording a more than 50% rise. It has since lost about 10% of that. However, a return to its own 78.6 fib level would mean an 85% rise overall.

Nevertheless, all eyes remain on bitcoin, and should the king of the cryptocurrencies continue to move up strongly, then some of the fundamentally strong cryptocurrencies could take advantage and post even higher gains.

Read More: Bitcoin is Mainly Used in Underground Economy for Illicit Activities, Said, Ben Bernanke

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