Rather than arguing, I’d encourage the whole industry to read more deeply on the subject. And no, I don’t just mean Graeber’s “Debt” and Fergusson’s “Ascent of Money.” The most important book for understanding the monetary context of cryptocurrencies is the “Private Money and Public Currencies, the 16th Century Challenge.” The book outlines the context for the rise of central banks, and hence the motivation for crypto. Source
While bitcoin had already broken record highs and some corners of the crypto space such as meme coins and artificial-intelligence (AI) tokens experienced exorbitant gains, XRP had so far been notably absent from the action. When measured against bitcoin, XRP prior to today’s move had slid to a 3-year low, TradingView data shows. Even with this afternoon’s big jump, XRP is now only up 17% year-to-date, substantially underperforming BTC’s 64% advance and the broad-market CoinDesk 20 Index 54% gain. Source
The new rules will give additional – albeit unspecified – rewards to “OG” users of Kamino, which hosts various decentralized finance (DeFi) products for borrowing, lending, staking and earning interest on Solana tokens. Points-earning strategies will also be lessened, Kamino said in a post on X, formerly Twitter. Source
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As one well-worn example, Saylor said that gold can’t easily be moved from New York to Tokyo in a few minutes, unlike bitcoin. He also expects bitcoin to divert money away from other risk assets, including the giant SPDR S&P 500 ETF (SPY), and for bitcoin to begin showing up in other funds similar to the BlackRock setting plans to acquire spot BTC ETFs in its Global Allocation Fund. Source
“We believe bitcoin miners are still largely retail-traded stocks and institutions have largely stayed away from bitcoin proxies, as traditional investors remain skeptical and still approach crypto with a rear-view bias,” analysts Gautam Chhugani and Mahika Sapra wrote. “With bitcoin climbing new highs of $71K, we expect institutional interest in bitcoin equities to finally tip over, and bitcoin miners to be the largest beneficiaries,” the analysts said, adding that the long bitcoin miners trade requires “more patience.” The rising bitcoin price and transaction fees will provide a cushion for the…
Domo, the pseudonymous creator of the Bitcoin network’s BRC-20 token standard, announced on Monday that his non-profit organization, Layer 1 Foundation (L1F), will partner with Bitcoin infrastructure companies UniSat and Best in Slot to serve as BRC-20’s “lead maintainers.” Source
Bitcoin, on the other hand, has long carried the mantle of “digital gold” — all the scarcity of a commodity without the traditional transportation and storage costs required with physical goods. Why then do we bother with ETFs, which are effectively a wrapper, instead of owning your own digital gold in your own digital wallets? Because cryptocurrency is still in its early developmental phase and products such as wallets and exchanges are still complex and daunting for the vast majority. Source
According to a summary table, the administration projects it could generate over $1 billion in the 2025 fiscal year by including digital asset transactions in wash sale rules alone, and north of $8 billion by including cryptocurrencies in mark-to-market rules. Over a 10-year period, these two rules could generate $25 billion and $7.3 billion, respectively (the budget seems to expect the mark-to-market rules adding to the national deficit after 2025). An excise tax on mining could remove some $7 billion from the national deficit over the next decade, the file…
The company started as NEAR.AI in 2017, an AI company that had nothing to do with blockchain. The team began building the NEAR protocol in 2018, and the mainnet was rolled out in 2020. Prior to starting Near, Polosukhin was at Google Research, where he worked on developing models and tools that would eventually feed into AI. Source