Still, hostile M&A can be tricky, the report cautioned, and such deals are unusual in technology and financial services business which rely on the talent of people. “However, bitcoin mining is very different where physical facilities with access to electricity and widely available computing equipment are the core assets.” Source
The latest price moves in bitcoin (BTC) and crypto markets in context for Aug. 27, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original
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In the latest episode of the What Bitcoin Did Podcast, hosted by Peter McCormack, Jack Mallers, CEO of Strike, made a stunning prediction for the Bitcoin price. Mallers speculated that BTC could reach a valuation between $250,000 to $1 million in the current economic cycle. Mallers grounded his prediction in the broader context of global economic practices and central bank policies, emphasizing the unprecedented nature of today’s financial challenges and opportunities. Why Bitcoin Is Poised To Reach $1 Million Mallers highlighted the global debt-to-GDP ratio, which has surged beyond 300%,…
TON, the blockchain, has more than 350 validators globally, but it is unclear how many of these Telegram operates, if any, the report said. Therefore, it’s not clear “how resilient TON can be in the case that France or any other major governments attempt to attack it or to take it down as part of Durov’s arrest.” Source
“We believe that offering the right products for participants in the space who are aiming not only for exposure to the Bitcoin price, but also structured ways to grow the Bitcoin value of those investments is a natural evolution of the asset class,” Xapo Director Joey Garcia said. Source
Hilbert Group partners with Xapo Bank to launch a Bitcoin-denominated hedge fund with over $200 million in expected capital. Quantitative investment company Hilbert Group has announced a strategic partnership with crypto-friendly Xapo Bank to manage a new Bitcoin-denominated hedge fund. In an Aug. 27 press release, the Stockholm-headquartered company said that the fund, set to launch in September, is expected to attract over $200 million in initial capital from Xapo Bank and other investors throughout 2024. The idea behind the initiative is to provide corporates, businesses, and professional investors with…
“Locally, a Telegram ban will have a lasting negative impact on the business development and marketing of the more than 300 solid web3 projects from India,” said Ayush Ranjan, CEO of Huddle01, a DePIN dedicated to making real-time communication performant. “Millions of Indians are active members…disrupting this communication would also impact the price formation of projects’ tokens. If the ban goes through, people will have to move to other app.” Source
Nigeria’s money laundering case against crypto exchange Binance, detained executive Tigran Gambaryan and fugitive Nadeem Anjarwalla will resume on Sept. 2, a month earlier than planned, after defense lawyers asked for the trial to be brought forward, Gambaryan’s family said. Source
One of the favorite meme coins has again been in the headlines. Recent price action suggests that Dogecoin might probably be bottoming as it sets itself in for what could turn out to be a big bull run. This has market observers looking toward some specific technicals that have signaled price surges in recent weeks. These indicators, marked through green and red lines, are currently penetrating, which raise hopes that the rally could start from the first week of September. Related Reading There are also reasons for optimism stemming from…