Day: October 31, 2024

Florida has $800m in crypto-related holdings: CFO

Florida Chief Financial Officer Jimmy Patronis revealed that the state holds approximately $800 million in crypto-related investments as part of its portfolio, a position he discussed during a CNBC interview. Patronis emphasized Florida’s commitment to exploring cryptocurrency as a viable investment, despite traditional concerns about its role in state retirement funds. “Crypto is not going anywhere. It’s not going to contract. It’s going to continue to be expanding,” Patronis stated in the interview, expressing confidence in the technology’s long-term potential. Patronis made it clear that he views cryptocurrency as an…

Microstrategy Unveils $42 Billion Plan to Power Large-Scale Bitcoin Purchases

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Microstrategy announced a $42 billion plan to accelerate bitcoin purchases, aiming to strengthen its reserves and position itself as a leader in digital asset investment. Aiming High: Microstrategy’s $42 Billion Vision for Unmatched Bitcoin Reserves Software intelligence firm Microstrategy Inc. (Nasdaq: MSTR) announced its Q3 2024 results on Wednesday, detailing a $42 billion capital-raising initiative […] Original

DOJ Takes Down Rug Pull Duo Behind $400,000 NFT Debacle

A federal jury convicted a man for orchestrating an NFT rug pull scheme, pocketing nearly $400,000 through abandoned projects and cryptocurrency laundering schemes. The NFT Rug Pull That Went Too Far — Federal Jury Brings Verdict The U.S. Department of Justice (DOJ) announced Thursday that a federal jury in Tampa, Florida, found Berman Jerry Nowlin, […] Source CryptoX Portal

Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don’t Aim Lower Than $4,900 ATH

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Este artículo también está disponible en español. Technical analysis suggests the days of the Ethereum price consolidation might be over very soon. At the time of writing, Ethereum is trading with a 0.07% gain in the past 30 days, which reveals the current consolidation situation it finds itself under.  However, according to a technical analysis on TradingView, the Ethereum price could be well on its way to reaching a new all-time high after 12 weeks of consolidation. Ethereum Price Completes Bottom Formation According to a technical analysis of the Ethereum…

What are smart contracts? Types, benefits & use cases explained

With the advancement of IT technologies and blockchain platforms, a new type of contract has emerged: smart contracts. In this article, we’ll explore smart contracts and how they’re being used today. What are smart contracts. Smart contracts explained What is a smart contract? It is like a digital agreement that runs on its own, with all the terms and conditions written directly into the code. It operates on a blockchain network, so the contract automatically carries out and enforces itself when the set conditions are met. There’s no need for…

Build on Bitcoin Protocol Joins Superchain as First Hybrid L2

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BOB, short for “Build on Bitcoin,” is now part of the Superchain ecosystem, a network expanding with Optimism’s OP Stack. As a hybrid layer-two (L2) solution, BOB taps into the strengths of both Bitcoin and Ethereum, merging Bitcoin’s security with Ethereum’s adaptable framework. This blend overcomes Bitcoin’s limitations in smart contracts and interoperability, creating a […] Original

Analyst Claims Ethereum ‘Isn’t Dying,’ Bitcoin Surge No Threat To Ether

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Este artículo también está disponible en español. This week has witnessed remarkable growth in the global cryptocurrency market, spearheaded by Bitcoin. Today, the total market capitalization of the cryptocurrency market stands at $2.44 trillion, an increase of 1.61% from the previous day. Most of the digital assets are in the green zone meaning that their prices are rising and the outlook of the market is generally positive. Related Reading In this latest market frenzy, one storyline is attracting attention and some analysis: while Bitcoin is outperforming the rest and retesting…

Bitcoin Price (BTC) Slips Alongside Donald Trump Election Odds

Not everyone is convinced, however. Quinn Thompson, founder of crypto hedge fund Lekker Capital, told CoinDesk that the U.S. election is only one facet of the current trading environment. Traders, he suggested, have also been looking at tech earnings, ongoing tensions between Iran and Israel and a sharp rise in U.K. gilt yields following the rollout of the government budget earlier this week. Source

Pound Sterling Suffers Biggest Drop in 18 Months Amid Reeves’ Tax-and-Spend Storm

Following the latest budget reveal, the pound sterling has taken a sharp tumble, fueled by mounting worries about the U.K.’s fiscal outlook. Chancellor Rachel Reeves’ decision to pump £70 billion into government spending—funded through additional borrowing—has stirred up significant unease among investors. They’re concerned this move could lead to higher inflation and escalating interest rates. […] Source CryptoX Portal