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A Pair of Hacks Rattle an Already Jittery Crypto Industry

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A pair of crypto hacks totaling nearly $200 million in losses and probably affecting more than 10,000 users has prompted worry in an industry already unsettled by falling prices.

On Wednesday, Solana, a popular blockchain and token, said that some wallets that held its assets had been breached. At least 7,700 such wallets are believed to be affected, the company said, while London-based blockchain-analysis firm Elliptic put the amount stolen at $5.2 million in crypto, which includes Solana tokens and the stablecoin known as USD Coin. Read More


In the US, the Algorand Centers of Excellence (ACE) Program will fund multi-year projects at UC Berkeley, Carnegie Mellon, University of Florida, Yale and Purdue

SINGAPORE, August 3, 2022 — The Algorand Foundation, whose mission is to grow the ecosystem of Algorand, the carbon-negative Layer 1 blockchain invented by Turing Award winner and MIT professor Silvio Micali, today announced the 10 winners of its AlgorandCentres of Excellence (ACEs) Program with awards totaling $50M over five years. The program received 77 proposals with over 550 participants representing 46 countries; winners were selected by an international panel of 27 experts from a diverse set of disciplines. Read More

Me Buying One More Dip
Jimmy Patronis

The 'romance scam' can often happen through online dating sites.

Scammers are aiming to “fatten up” unwary cryptocurrency investors before making off with their dough as part of a “pig butchering” scheme, Chief Financial Officer Jimmy Patronis warns.

“In Florida, we embrace emerging technology and innovation, but consumers must always stay on guard for scams, especially as new financial products like Bitcoin and other cryptocurrencies become increasingly popular,” Patronis said. Read More

SEC Investigation

The Securities and Exchange Commission is investigating every U.S. crypto exchange, according to a Senate staffer.

A staff member from Sen. Cynthia Lummis's (R-WY) office claimed that every one of the more than 40 crypto exchanges in the United States is being investigated by the SEC, according to Forbes. Read More

Analytical Data

Cost of Bitcoin Mining

Venezuela ranks as the number one most expensive country to mine bitcoin. 

Venezuela is the Most Expensive

On the opposite end of the spectrum, the cheapest place to mine Bitcoin is in Kuwait.

Kuwait is the least expensive

Florida Blockchain Politics

Florida Primary Election Date: Tuesday, August 23, 2022

Since the publishing of the Bitcoin whitepaper in 2008, blockchain and web3 technology has matured from an academic idea to a thriving industry that has captured the imagination of tens of millions about what the future might hold. And for good reason.

Blockchain technology has generated hundreds of billions of dollars of economic value in the past decade and early blockchain experiments in environmental, societal, and technological impact showcase the technology's potential to build a future that is more resilient, collaborative, regenerative, and dynamic. Read More

Jason Holloway
Maxwell Frost


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Disclaimer: Crypto Flo DOES NOT provide financial advice. All content is for informational purposes only. Crypto Flo is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.