Author: Coindesk
Flash crashes aren’t unusual in cryptocurrencies, although it is often difficult to explain why many holders of an asset suddenly decide they want to sell. In BGB’s case, the catalyst was likely “overall market sluggishness” stemming from holidays and Golden Week in Asia, among other factors, said Ryan Lee, chief analyst at Bitget Research, in an email. Read the full article here
Buterin sold 10 billion MOODENG for 308.69 ether (ETH), worth $762K at current prices, and transferred 260 ETH, or $642,000, to the charity Kanro earlier on Monday. His publicly-known Ethereum address vitalik.eth still holds 40 billion MOODENG tokens, worth over $8 million at current prices. Read the full article here
The rally follows stimulus announcements that included interest rate cuts, liquidity support for stocks, banking system capital injections, and a promise to support property prices. The enormous stimulus, estimated to be over 7.5 trillion yuan (CNY), has been widely perceived as uber-bullish for bitcoin and other risk assets. Bitcoin, however, remains flat-lined at around $64,000 in the wake of the China stimulus, extending a six-month-long consolidation between $50,000 and $70,000. Read the full article here
Republican presidential candidate Donald Trump is leading Democratic rival Kamala Harris by 2.5 percentage points in Polymarket’s election contract after Elon Musk, the founder of Tesla and SpaceX, endorsed him at a rally over the weekend. Trump still trails in one of the states that have, historically, ‘called’ the election. Read the full article here
Bitcoin miners compete to solve mathematical problems in order to add new blocks to the network and, in turn, are rewarded with new BTC. The amount received is halved every four years, last doing so in April this year, when the reward fell to 3.125 BTC. Read the full article here
The company adopted bitcoin as a reserve asset in May as a hedge against volatility of Japan’s native currency. It now has the second-largest bitcoin stash among Asia-listed companies, behind Hong Kong-based technology firm Meitu (1357), which holds around 941 BTC, according to Bitcoin Treasuries. Both companies trail behind Tysons Corner, Virginia-based MicroStrategy, which has more than 252,000 and is the largest publicly traded owner of the token. Read the full article here
“The UAE has essentially classified virtual assets in the same bucket as traditional financial services – several of which are already exempt from VAT. This legitimizes VAs,” said Ankita Dhawan, a senior associate at Métis Institute, a dispute resolution think tank. Read the full article here
“But I know if HBO releases a documenter and tells everyone that @lensassaman is satoshi, then every crypto mfers and every big media will say/write its name and talk about him,” said crypto X user @ariesyuangga. “If Len Sassaman is named as Satoshi Nakamoto this cat is going to fly,” said @dametime_tradez, another crypto X user. Read the full article here
That’s why it’s imperative lawmakers not overlook decentralized AI as they begin to regulate AI. It’s probably human nature to ignore, considering the broader AI industry is exploding and dominated by some of the world’s biggest corporations. They’re acquiring startups, pushing advancements, and launching new products at a breakneck pace. While there’s nothing wrong with Microsoft, Meta, Alphabet, and others investing heavily in the industry, lawmakers need to create space for researchers, entrepreneurs, and developers to thrive as well; that entails among other things remaining vigilant on antitrust, and ensuring that government-backed R&D funds don’t benefit the giants alone. Read…
“Bitwise is likely just catering to things they’re hearing from clients and potential clients,” said James Seyffart, ETF analyst at Bloomberg Intelligence. “They have an actively managed division within Bitwise, so it makes sense to give it a try. We know there are investors looking to invest in bitcoin but who want to limit the volatility and particularly the downside volatility/drawdowns. I think that’s what this will aim to do. Whether or not it will be successful is something we will learn in the coming years, but timing the market is extremely hard.” Read the full article here