Day: December 4, 2023

Bitcoin led Charlie Shrem into a tumultuous life

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Charlie Shrem paid a steep price for his place in crypto history. Major figures in the crypto world were part of his story, and his personal life was transformed as he went from online retailer to CEO of Bitcoin (BTC) exchange BitInstant and convicted felon before he was even 30. Today he is an investor and podcaster. Coming from a prominent family in Brooklyn’s Syrian Orthodox Jewish community, Shrem was on the path to becoming a rabbi from an early age. It was not an easy path, and Shrem had…

Riot acquires 18 EH/s hash rate and establishes extended agreement with MicroBT for future supplies

Riot Platforms, Inc. has significantly expanded its Bitcoin mining operations by executing a large-scale purchase agreement with MicroBT Electronics Technology Co., Ltd. This deal involves acquiring 66,560 latest-generation Bitcoin miners, supplementing a previous order of 33,280 miners. $Riot Exercises Purchase Option on 18 EH/s of Latest Generation Immersion Miners from MicroBT, and Secures Additional Purchase Options Providing a Path to Exceed 100 EH/s. – Riot places order for 18 EH/s of latest generation MicroBT Bitcoin miners, primarily consisting of the… pic.twitter.com/tEEudV6Z8n — Riot Platforms, Inc. (@RiotPlatforms) December 4, 2023 The…

Shiba Inu Open Interest Falls Behind General Crypto Market, What This Means For Price

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The entire crypto market has seen a steady increase in open interest (OI) over the last few months. But the Shiba Inu open interest seems to not have followed this trend as much as others. While there has been a huge jump in the open interest of the largest cryptocurrencies in the industry, Shiba Inu’s rise has remained relatively muted, with implications for the altcoin’s price. Shiba Inu Open Interest Trajectory The Shiba Inu open interest initially started pumping back in August when the current bull run began. However, in…

Bitcoin and gold are smashing through key levels. Here’s what’s driving the moves

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While the U.S. equity market pulls closer to new highs, investors are also bidding up the centuries-old asset of gold and the new digital coins that have been touted as the yellow metal’s replacement. Both gold and bitcoin kicked off the week by hitting new milestones — spot gold hit a record high above $2,100 per ounce, and bitcoin topped $42,000 to hit its highest level since April 2022. The recent gains have been more dramatic in bitcoin, which is now up more than 150% for the year. The digital…

Tax services are getting pushy to have crypto declared: Law Decoded, Nov. 27–Dec. 4

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Spain and Brazil are chasing cryptocurrency stored abroad, while the U.K. wants taxes paid for crypto assets that weren’t previously declared. Last week, His Majesty’s Revenue and Customs (HMRC) presented an unpleasant Christmas surprise to hodlers in the United Kingdom, demanding they declare any crypto holdings they failed to report in the last four, six or even 20 years. The disclosure must include “exchange tokens,” such as Bitcoin (BTC), as well as any nonfungible tokens (NFTs) and “utility tokens.” Less harsh in its demands, the Spanish Tax Administration Agency has…

SEC likely to prioritize ‘cash create’ spot Bitcoin ETFs

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A Senior Bloomberg ETF analyst speculated that the Securities and Exchange Commission favors a particular redemption model and that could be a factor for which applications get approved. The U.S. Securities and Exchange Commission (SEC) may choose to first approve spot Bitcoin ETFs with a cash create redemption structure, according to ETF expert Eric Balchunas who said that such a decision remained unconfirmed by America’s securities regulator. Cash create differs from the alternative “in-kind” option since it requires issuers to hold the dollar equivalent of every Bitcoin (BTC) offered in…

IBM says it will have hit a quantum computing ‘inflection point’ by 2029

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IBM announced the unveiling of its 1,121-qubit “Condor” quantum computing processor on Dec. 4. This is the company’s largest by qubit count and, arguably, the world’s most advanced gate-based, superconducting quantum system. Alongside the new chip, IBM delivered an updated roadmap and a trove of information on the company’s planned endeavors in the quantum computing space. The Condor quantum processor The 1,121-qubit processor represents the apex of IBM’s previous roadmap. It’s preceded by 2022’s 433-qubit “Osprey” processor and by 2021’s 127-qubit “Eagle” processor. In quantum computing terms, qubit count isn’t…

Circle and Stanford’s Joint Effort: A Leap Forward in Blockchain Security?

In a significant advancement for blockchain, Circle Research, in collaboration with Stanford’s Applied Cryptography Group, has unveiled two groundbreaking open-source projects. According to the official announcement, these initiatives address the persistent challenges of on-chain theft and the limitations of current blockchain-based financial systems. The Future of Safer On-Chain Transactions? Jeremy Allaire, CEO of Circle, announced the launch of these projects, highlighting their potential to “revolutionize” the security and versatility of blockchain transactions. From 2021 to 2023, nearly $10 billion was lost to illicit theft and attacks on blockchain platforms. 2023…

Crypto Analyst Says It’s “Not Too Late” To Buy Ethereum, Here’s Why

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A crypto analyst has explained how the range around $2,000 could become a major Ethereum support base for years, making it not too late to buy ETH right now. 43.8 Million Ethereum Was Acquired Between $1,900 And $2,100 In a new post on X, analyst Ali has discussed about why Ethereum could still be worth getting into at this point. The analyst has cited data from the market intelligence platform IntoTheBlock to explain this, referring to the on-chain acquisition distribution of the cryptocurrency. The data for the cost basis distribution…

Analyst sees potential XRP breakout

In his daily YouTube video posted on Dec. 4, the crypto analyst behind the popular CryptoTV channel predicted that several top cryptocurrencies are poised for a major breakout. The analyst pointed to recent price action in assets like Bitcoin (BTC), Ethereum (ETH), and XRP as early confirmation that the anticipated rally is underway. As you guys can see across the board with these cryptos, we are breaking out. Specifically, the analyst believes Bitcoin could continue running higher after two days of closing above what he identifies as a key “ascending…