Author: The Daily Hodl
The chief executive of stablecoin issuer Circle says that dollar-pegged digital assets should become a mass export product of the United States. In a new interview on CNBC Television, Circle CEO Jeremy Allaire says that the US should promote “full reserve digital dollars” as a means of preserving the value of the US dollar. Allaire also says the US’ fiscal situation is “not in order” – something that could also be aided by a transparent digital dollar system. “First and foremost, we have to focus on the strength and competitiveness of the dollar first. We have a situation in the…
The price of Bitcoin is testing $100,000 after Fed Chair Jerome Powell issued a statement on the central bank’s ability to hold BTC. Powell took questions from reporters after announcing the Fed has lowered its key interest rate by a quarter percentage point in its third consecutive reduction. When asked if he sees any value in the Fed building a Bitcoin reserve, Powell said current laws make it impossible. “We’re not allowed to own Bitcoin. The Federal Reserve Act says what we can own and we’re not looking for a law change.” The Federal Reserve Act outlines the types of…
The U.S. Securities and Exchange Commission (SEC) recently sent a Wells notice to CyberKongz, indicating the regulator plans to take enforcement action against the non-fungible token (NFT) project. CyberKongz announced the notice this week and says it plans to “stand up and fight” in response to the SEC’s crackdown. “We have been suffering in silence for the last two years, ever since we first received contact from the SEC. Throughout the entire process they have showcased a complete lack of understanding of blockchain technologies that has resulted in unjust accusations and information inaccuracies. CyberKongz is a project deep-rooted in gaming…
The chief investment officer of crypto asset management firm Bitwise predicts Bitcoin will surge well beyond $200,000 if the US ever launches a BTC strategic reserve. In a new interview on Yahoo Finance, Bitwise CIO Matt Hougan says that if the US government implements a Bitcoin strategic reserve other governments around the world would have to follow suit, sending the flagship crypto asset to astronomical new all-time highs. “If we do get a Bitcoin strategic reserve where the government is buying Bitcoin – and there’s a bill from Senator Lummis that [would have] the government buy a million Bitcoin –…
Ethena Labs (ENA), a synthetic dollar protocol backed by BitMEX founder Arthur Hayes, is announcing a partnership with President-elect Donald Trump’s decentralized finance (DeFi) project. In a new announcement on the social media platform X, Ethena Labs says it has entered into a strategic partnership with World Liberty Financial (WLFI). According to Ethena Labs, the collaboration will bring over Ethena Staked USDe (sUSDe) – a yield-bearing token that inventors can stake – to the DeFi platform. “A governance proposal has been submitted to add sUSDe to WLFI’s upcoming Aave instance as a core collateral asset, Should it pass, this proposal will…
A popular market analyst known for his timely crypto calls is predicting Ethereum (ETH) will suddenly return to its all-time high. Pseudonymous trader Pentoshi tells his 834,500 followers on the social media platform X that Ethereum may surge more than 23% from its current value and start outperforming against Bitcoin (ETH/BTC). “ETH likely to continue to outperform BTC in the short term in my opinion. ETH/BTC went up around 20% from the lows while going up in USD. Can’t complain. But every time it goes down 1% many get PTSD. Trends don’t happen overnight. They always start small. See no…
A veteran trader known for accurately calling the crypto market collapse of May 2021 believes Bitcoin (BTC) is gearing up for an explosive move. Pseudonymous analyst Dave the Wave tells his 147,800 followers on the social media platform X that Bitcoin is trading in a narrow range, setting the flagship crypto asset up for a breakout. He also shares a chart using his version of the logarithmic growth channel (LGC) curve, which aims to predict Bitcoin’s longer-term cycle lows and highs while filtering out shorter-term volatility. “BTC closing in on the shorter-term target on the chart for some time now.…
A closely followed crypto trader believes that conditions are nearly ripe for Ethereum (ETH) to witness a surge to fresh record highs. Crypto strategist Justin Bennett tells his 115,400 followers on the social media platform X that it’s only a matter of time before Ethereum fully reclaims resistance at $4,000 as support. According to Bennett, Bitcoin has been on a grind-up this month and traders will eventually rotate some of their BTC profits to ETH to capture more upside potential. “ETH has struggled at $4,000 for obvious technical reasons, and BTC has stolen the show so far in December. But…
An analyst at one of the biggest asset managers in crypto thinks the US will establish some form of a strategic Bitcoin (BTC) reserve next year. Matthew Sigel, the head of digital assets research at VanEck, says in a new interview with Natalie Brunell that the reserve might not be generated from Congressional legislation, however. “I think more likely it’ll be an executive action that tries to reclassify the roughly 200,000 Bitcoin that the US government already owns, having seized in crimes or other events, and just call that a Bitcoin reserve and pledge not to sell it. Our prediction…
A widely followed crypto trader says one decentralized oracle service project may one day overtake its rival Chainlink (LINK). In a new video update, Guy Turner, the host of CoinBureau, tells his 2.57 million YouTube subscribers that the market cap for Pyth Network (PYTH) may eventually soar due to its potential to generate massive fee revenue. “In my opinion, Pyth Network is one of the most underrated cryptos there is. That’s because it’s an oracle that provides high-frequency data feeds that blockchains like Solana depend on. In other words, Pyth Network is like Chainlink, and some would argue that it’s…