Author: Coindesk

Of course, any single digit multiple assumed on valuation metrics must assume a Bitcoin price of between $70,000 to $100,000 which we would argue is reasonable given the current momentum in the price of Bitcoin. Conversely, given that these are technology companies, we would have to admit that execution risk at scale has proven a high hurdle to achieve. Read the full article here

That digital gold became the go-to description is likely why we have a mishmash of ideas about bitcoin today; it’s a hedge, a store-of-value, a means of payment, a beta trade, a bet against fiat and, increasingly, a development platform. Everyone wants bitcoin to be everything all at once when in reality, over the past decade and half, it’s basically done just one thing really well: sopping up excess liquidity. Read the full article here

In their rebuttal, prosecutors said that Eisenberg’s legal attempts to get his money were made after his identity as the exploiter had been exposed. He thought that his proposal to Mango Markets’ DAO, and its subsequent “waiver of liability,” meant he was off the hook, emboldening him to come back to the U.S., they said. Read the full article here

Suku, a provider of Web3 tools, in collaboration with Alchemy and Privy, has launched SukuPay, “a simple, free and fully non-custodial global money transfer solution,” according to the team: “Leveraging account abstraction, SukuPay removes the need for initial setup like creating a wallet or remembering a seed phrase, while still providing a non-custodial experience. With just a phone number, users can effortlessly send and receive funds without any fees. It’s built on the efficient Polygon PoS network and utilizes the USDC stablecoin.” Read the full article here

The core technology associated with bitcoin, cryptography, is not new but it has re-emerged with blockchain and smart contract technology, which supports tokenization. A token is a unit of value that can be transferred, stored, and traded on the blockchain and is a digital representation of potentially many different kinds of assets, such as ownership rights for cryptocurrencies as well as real-world assets like stock shares, real estate or even art. For some, the SEC’s approval of Bitcoin ETFs helped boost the legitimacy of this technology, and now we’re seeing more firms and retail investors exploring the many benefits of…

“Abu Dhabi is unique because it has one of the most progressive regulatory frameworks in the region to support the growth of institutional digital assets,” Melvin Deng, CEO of QCP, said in an interview conducted over Telegram. “This fits very well with how we envision regulation supporting the ecosystem as it develops and evolves.” Read the full article here

Shomari Figures, a Washington insider with a lengthy progressive resume, didn’t pull in the most money in direct contributions as he sought one of Alabama’s seats in the U.S. House of Representatives. Still, the crypto-friendly candidate dominated the crowded field of fellow Democrats and then won this week’s Democratic runoff with 61% of the vote. Read the full article here

“The wealth-management layer within ZIGChain shall allow a truly effortless user experience by building a wealth management service on top of any DeFi protocol, no matter how complex it is,” Torben Jorgenson, a partner at UDHC, which also participated in the round, said in a statement. “We are excited by the vision, and hence, becoming part of the ecosystem fund was a no-brainer.” Read the full article here

Centrifuge’s plans came to light as the protocol announced it raised $15 million in venture capital investment in an “oversubscribed” fundraising round. ParaFi Capital and Greenfield led the investment, with multiple firms including Arrington Capital, Circle Ventures, Gnosis, The Spartan Group, and Wintermute Ventures also participating. Read the full article here

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