Today in crypto, Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and AI centers, ARK Invest CEO Cathie Wo
Today in crypto, Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and AI centers, ARK Invest CEO Cathie Wood says crypto ETFs are here to stay, and crypto industry executive and users report scam Ledger phishing letters sent by physical mail.
Pakistan allocates 2,000MW power for Bitcoin mining and AI centers
Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.
The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.
In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.
The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.
Crypto ETFs won’t lose ‘their luster’ as wallet adoption grows — Cathie Wood
ARK Invest CEO Cathie Wood says crypto exchange-traded funds (ETFs) will likely maintain their place in the economy no matter how big crypto wallet adoption becomes over the next decade.
“I think ETFs are an important stepping stone because, you know, wallets seem so complicated, so much friction for consumers, they just wanna push a button,” Wood said at the Solana Accelerate event in New York on May 23.
“So ETFs for those who want the convenience, I don’t think, will lose a lot of their luster,” she said. “But they will be a stepping stone into wallet-based.”
Bitbo data suggests that there are around 200 million active Bitcoin wallets worldwide. Meanwhile, the trading week ending May 23 saw approximately $2.75 billion inflows into US-based spot Bitcoin ETFs, coinciding with Bitcoin reaching a new all-time high of $111,970 on May 22.
Crypto community sounds alarm about Ledger phishing letter scam
Industry executives and crypto community members are raising the alarm about a new phishing scam in the form of physical letters sent to crypto holders made to look like communication from the Ledger hardware wallet company.
The letter instructs recipients to “validate” their wallets and provides a QR code that likely links to a malicious phishing site that steals private keys and other sensitive user data.
BitGo CEO Mike Belshe shared a copy of the letter on X and confirmed that it was delivered via the United States Postal Service (USPS).
The incident reflects the increasingly sophisticated and novel forms of phishing attempts and scams targeting the crypto community and serves as a reminder for crypto holders to take proactive safety measures to protect sensitive data from social engineering attempts.
cointelegraph.com