Month: October 2023

How Satoshi Nakamoto and Bitcoin Whitepaper Changed World within 15 Years

With the imminent launch of Bitcoin spot ETFs, many institutions are also looking to gain increased exposure to BTC. Exactly 15 years ago, Satoshi Nakamoto, the pseudonymous creator of Bitcoin, sent the Bitcoin whitepaper via email to a select number of cryptographers. Satoshi is fondly quoted to have opened the email saying: “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.” He then went on to link the Whitepaper which he titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” The whitepaper proposed a…

Warren Buffett’s ‘crypto stock’ beats Apple and Amazon — but not Bitcoin

boss

Warren Buffett may still view cryptocurrencies and Bitcoin (BTC) as “rat poison squared,” but he is generating big profits from his position in a crypto-friendly bank in 2023. Warren Buffett’s “crypto bet” up $130 million in 2023 The “Oracle of Omaha” purchased 107 million shares of Nu Holdings, a Brazil-based fintech company and owner of the crypto-friendly Nubank, via his firm, Berkshire Hathaway, in two separate rounds in 2021. Berkshire invested $500 million in Nu Holdings in June 2021 and raised its stake by another $250 million in December 2021.…

Elon Musk’s X Sees Steep Drop in Value, Now Worth Less than Half of Its Purchase Price

Musk’s alterations to content policies have resulted in a considerable drop in advertising revenue. Elon Musk‘s social media platform ‘X,’ formerly known as Twitter, has taken a sharp downturn, currently valued at less than half of what he initially invested in purchasing the company a year ago. According to a Bloomberg report on Tuesday, citing internal memos and a person familiar with the matter, the company’s restricted stock units paid to employees were roughly valued at $45 per share. The price puts the company’s worth at about $19 billion, showing…

SOL Leads Gains Among Top Coins, Can Bulls Send Price To $40?

boss

SOL ranks among the bullish cryptocurrencies today, benefitting from the ongoing rally in the crypto market. $40 looks more realistic since SOL overcame the psychological resistance level of $20.  Based on its present trajectory and exciting events in the Solana community, investors wonder if it will attain $40 in the coming days. The technical indicators in the chart below will uncover SOL’s price trajectory in the coming days.  SOL Testing $36.69 Resistance, Will The Bulls Rally To $40? SOL is in an uptrend on the daily chart, forming a third…

Hong Kong CBDC Advances to Phase 2 after Successful First Phase

The e-HKD program has taken a three-rail approach for the potential implementation of the virtual currency: foundation layer development, industry pilots and iterative enhancements, and full launch. Hong Kong’s central bank digital currency (CBDC) pilot is set to advance to its second phase following the successful completion of phase one. The first phase was largely focused on full-fledged payments, programmable payments, offline payments, tokenized deposits, and the settlement of Web3 transactions and tokenized assets. The e-HKD (e-Hong Kong dollar) pilot program was launched by the Hong Kong Monetary Authority (HKMA)…

Saga Launches Pegasus Incentivized Testnet for Web 3.0 Gaming Ecosystem

The Pegasus Testnet has gone through various stages of rapid development in order to support Saga’s partners and innovators. Based on a report from Chainwire, Saga, a layer-1 protocol for Web 3.0 gaming, has announced the introduction of its Incentivized Testnet, which is known as Pegasus. This marks a major milestone for the project as it prepares for the full Saga Protocol V1 Mainnet that it plans to roll out in early 2024. Saga is a developers’ ecosystem that works best for Web 3.0 gaming. The company aims to help…

Dow Jones Rallies 500 Points while Bitcoin Remains Flattish

Investors will be eyeing major announcements ahead this week such as jobs report, Federal Reserve rate decision, and Apple’s earnings.  On Monday, October 30, the Dow Jones Industrial Average (INDEXDJX: .DJI) gained by over 511 points or 1.58%, ending the trading at 32,928.96. This was the biggest single-day gain market by the index, after June 2023. The S&P 500 saw a robust 1.2% surge, reaching 4,166.82, marking its most substantial gain since late August. Simultaneously, the Nasdaq Composite also advanced, rising by 1.16% to 12,789.48. This week is big for…

BlackRock Bitcoin ETF Approval Can Propell BTC Price to These Levels

Analysts expect 10-20% of the Gold ETF money moving into Bitcoin post the BlackRock ETF approval i.e. $12 billion to $14 billion worth of inflows in BTC. The entire crypto community remains excited regarding the approval of the spot Bitcoin ETF, with huge expectations ahead from BlackRock. This is because it would trigger a new source of demand for Bitcoin, leading to a strong price impact for the asset class. “One of the most significant developments in the cryptocurrency space is unfolding, prompting the question: What is the potential size…

Sam Bankman-Fried lawyers pitch for changes to judge’s jury instruction

boss

Attorneys representing former FTX CEO Sam Bankman-Fried have written another letter to the presiding judge, seeking changes to the jury instructions. In the letter addressed to Judge Lewis Kaplan, the defense attorneys requested that the jury consider the role of English law in governing FTX’s terms of service. The proposal calls on the 12 jurors in the case to consider that for misappropriation to have occurred, there must have existed a trust, fiduciary relationship or a similar relationship between FTX and its customers. However, the firm’s terms of service have…