Author: Coindesk

After purchasing bitcoin on a few occasions during the 2021 bull run, El Salvador began dollar-cost-averaging into the top cryptocurrency in November 2022, and was in the black on its holdings by December 2023, according to Bukele. El Salvador’s bitcoin strategy has been a constant sticking point with the International Monetary Fund, which has raised concerns about the nation’s fiscal situation. Read the full article here

Bitcoin came within touching distance of $90,000 in volatile trading during the European morning, swinging between highs well above $89,000 before falling below $86,000 as it encountered resistance on its path to another milestone. It was recently trading around $87,400. The surge in the last 24 hours has seen nearly $900 million of liquidations in crypto-tracked futures, equally distributed between bullish and bearish bets at almost $450 million apiece, according to Coinglass data. Notwithstanding the price swings, bitcoin is around 6% higher over 24 hours, outperforming the wider crypto market, which has risen just under 3.5%, as measured by the…

On October 31, Bangdao Chen, Co-Founder of the Oxford Blockchain Research Centre, and Ramesh Ramadoss, Chair of the IEEE Blockchain Technical Community hosted an event titled “Smart Agents on an Enriched Blockchain” at Keble College, Oxford. It highlighted the challenges and design solutions in the agentic internet: building independent and verifiable agents. Renowned computer scientists, including Richard Sutton FRS FRSC, the “father of reinforcement learning,” and Bill Roscoe FREng, Director of the Oxford Blockchain Research Centre, along with other experts, presented at the event. Read the full article here

“We see Bitcoin as being the primary store of value that will power these exponential technologies,” Thomas Power, a director of Genius Group, said in the statement. “The compelling case that we believe Michael Saylor and Microstrategy have made for public companies to invest in Bitcoin as their primary treasury reserve asset is one that we fully endorse.” Read the full article here

Cryptocurrency and the American economy as a whole are not zero-sum competitions. When crypto projects and small businesses succeed, we are all enriched. The competition between the SEC and the cryptocurrency industry, on the other hand, is zero-sum. Either the SEC can ban these markets, or cryptocurrency projects can access them. Both cannot be true at once. Read the full article here

As of this writing, XRP traded close to 65 cents – a critical level above which selling pressure has remained robust since October 2023. Should the resistance give away this time, the months of pent-up energy accumulated during this consolidation phase could be unleashed, potentially yielding a rapid rise toward 90 cents-$1.00. Read the full article here

The Beam Chain would focus on Ethereum’s consensus layer, also called the Beacon Chain, which is the part of the network that handles how transactions get processed and recorded. “The beacon chain is kind of old,” Drake said. “The spec was frozen five years ago, and in those five years so much has happened.” Read the full article here

“Assets in the US spot bitcoin ETFs are now up to $84b, which is 2/3 of the way to what gold ETFs have, all the sudden there’s a decent shot they surpass gold before their first birthday (we predicted it would take 3-4yrs),” Eric Balchunas, a senior analyst at Bloomberg, said in a post on X. Read the full article here

The volatility caused nearly $700 million in liquidations on crypto-tracked futures, impacting both longs and shorts (or bets on higher and lower prices, respectively), with $380 million in bearish traders and $290 million in bullish bets evaporated. Such cumulative losses are the highest since early April, when BTC briefly crossed its previous peak at over $73,000. Read the full article here

Republicans will control 53 seats for at least the next two years, having flipped Pennsylvania, Ohio, Montana and West Virginia last week. The crypto-focused super political action committee, Fairshake, was heavily involved in the Ohio race in particular, supporting Republican Bernie Moreno to the tune of $40 million. Read the full article here