Month: October 2023

Satoshi Nakamoto’s Busy Few Months Building the Revolutionary ‘P2P Electronic Cash’ Network

Bitcoin is, as Nakamoto described it, an electronic, peer-to-peer currency-like system. It could “become” a currency so long as people ascribe value to it, and that could happen for any number of reasons like wanting to collect interesting things or needing an alternative to using credit cards online, he had suggested. “Bitcoins have no dividend or potential future dividend, therefore not like a stock,” he wrote.” “More like a collectible or commodity.” Source

Sam Bankman-Fried Needs Better Answers on the Stand

There was a moment on Monday where an assistant U.S. attorney needed to ask FTX founder Sam Bankman-Fried if he was the chairman and sole board member of Alameda Research, while showing him a document that he signed, which literally identified him as the chairman and sole board member. And Sam’s response was he did not intend to be, which curiously enough, was not the question actually asked. Source

Blockchain Startup Etherfuse Rolls Out Tokenized Bonds in Mexico Targeting Retail Investors

“Stablebonds mark an evolution of investment solutions,” said Dave Taylor, CEO and co-founder of Etherfuse, in the statement. “By marrying the traditional world of bonds with the innovation of blockchain technology, we are creating a secure and transparent tool for investors and are adding further stability to DeFi and blockchain products,” he added. Source link

A closer look at the evolving stablecoin ecosystem

The rise of digital currencies, exemplified by Bitcoin (BTC), brought a groundbreaking shift in the financial landscape.  However, it also brought to light a critical challenge: price volatility. Bitcoin and many other early cryptocurrencies exhibited extreme price fluctuations, making them difficult to use for everyday transactions or as a reliable store of value. Users recognized the need for stability when dealing with digital assets, particularly when conducting business or holding assets for an extended period. This need for stability in the digital currency realm paved the way for the development…

Valkyrie Amends Prospectus for Spot Bitcoin ETF Application

As of late October, the SEC is reportedly reviewing eight to ten potential spot Bitcoin spot ETF filings. Asset manager Valkyrie has recently made waves due to its decision to amend its prospectus for a spot Bitcoin (BTC) ETF filed with the US Securities and Exchange Commission (SEC). The Valkyrie Bitcoin ETF Update James Seyffart, a renowned analyst at Bloomberg, shared this development on social media platform X, shedding light on Valkyrie’s efforts to meet the SEC’s requirements for its Bitcoin ETF. Valkyrie’s updated form S-1 registration statement is designed…

XRP Price Confirms Breakout Above Multi-Month Resistance

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Renowned crypto analysts, Dark Defender, Jaydee, and Egrag have provided insights into the recent performance of XRP against the US dollar. All three analysts agree that XRP has confirmed a breakout from a multi-month resistance level yesterday and could be poised for another leg up. XRP Price Successfully Breaks Out In the 4-hour time frame, Dark Defender has highlighted the formation of a “bull flag” pattern. This is usually considered a bullish continuation signal. Prior to the formation of this pattern, XRP experienced a significant upside move and then entered…

61.03T at block 812,835: Bitcoin mining difficulty soaring

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Bitcoin mining difficulty is at new highs after recently rising by 6.47%. Accordingly, it has become increasingly challenging and competitive for miners to discover new blocks. Of note, mining difficulty has doubled since October 2022, increasing three consecutive times. CoinWarz estimates it now takes 61.03T hashes to mine a single block in the Bitcoin network. In this analysis, we’ll take a closer look at the recent increase in mining difficulty, its effects on those involved, and the key factors that will shape the future of Bitcoin mining. Mining difficulty rising…

Bitcoin ETFs could face rug-pull from Gensler, analysts say

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Bloomberg’s ETF analysts haven’t ruled out the possibility that SEC Chair Gary Gensler may reject pending spot Bitcoin ETF applications at the eleventh hour. There’s a remote possibility that Gary Gensler, chair of the U.S. Securities and Exchange Commission, could abruptly deny all pending spot Bitcoin (BTC) ETF applications, a move described as “amazingly sadistic” by Bloomberg ETF analysts. On Oct. 31, ETF commentator Dave Nadig took to X (formerly Twitter) to question senior Bloomberg ETF analysts James Seyffart and Eric Balchunas, speculating whether SEC Chair Gary Gensler might be…

Andreessen Horowitz to Raise $3.4B Fund for Crypto Startups

Andreessen Horowitz, to date, is arguably one of the most prolific investors in the blockchain space. Andreessen Horowitz (a16z) is reportedly planning to raise a $3.4 billion fund that will be designated for early-stage and seed-stage crypto businesses. The development was shared by Axios, which also cited other sources. According to Axios, a16z, the Silicon Valley venture capital firm “plans to raise new growth, crypto and bio vehicles in 2025.” And, for what it’s worth, the intended raise is slightly above what the firm has done in similar efforts in…