Crypto News on 20 Oct, 2024

Share to Facebook Share to Twitter Share to Linkedin A man rides a bicycle past a store advertising Bitcoin ATMs in Nicosia on September 25, 2024. (Photo ... [+] by Jewel SAMAD / AFP) (Photo by JEWEL SAMAD/AFP via Getty Images) AFP via Getty Images Two years after FTX's implosion, financial regulators are still closely scrutinizing the cryptocurrency industry. In the United States, several targeted enforcement actions have been levied against crypto banks and companies, signaling an increased focus on compliance and risk management in the sector. Following the collapse of Signature Bank and Silvergate, Pennsylvania-based Customers Bank has emerged as a key player in the crypto banking space, onboarding clients like Kraken and absorbing approximately $2 billion in deposits from crypto clients. A major draw for Customers Bank was its real-time payments system licensed from TassatPay, the same technology that had powered Signature Bank’s Signet. However, Customers Bank found itself under federal scrutiny, receiving an enforcement action from the Federal Reserve on August 5, 2024. The action cited “significant deficiencies” in the bank’s risk management practices and its compliance with anti-money laundering (AML) regulations, particularly in relation to its digital asset services. Similarly, Dallas-based United Texas Bank faced regulatory action for its crypto-related activities. On August 28, 2024, the bank was cited for “deficiencies” in its AML compliance and risk management practices, particularly related to virtual currency customers and foreign correspondent banking. United Texas Bank, which services a number of crypto clients, is also a correspondent bank for Bank Frick, a Liechtenstein-based institution specializing in cryptocurrency services. These enforcement actions reflect the growing concerns regulators have about crypto banks' ability to manage the unique AML risks posed by digital assets. At the same time, a multi-billion-dollar fine was issued to TD Bank for failing to meet AML standards. TD Bank did not automatically monitor a substantial portion of its transactions, leaving 92% of its total transaction volume unchecked between January 1, 2018, and April 12, 2024. This failure allowed “trillions of dollars in transactions annually to go unmonitored for potentially suspicious activity.” While TD Bank’s deficiencies were not exclusively tied to crypto transactions, the enforcement action did mention a “Customer Group C,” which reportedly laundered funds from a UK-based cryptocurrency exchange to a Colombian financial entity. Across the Atlantic, regulatory scrutiny of the crypto sector is intensifying as well. In the UK, crypto payments firm BCB was subject to an S166 investigation this year by the Financial Conduct Authority (FCA), an indication that regulators are paying closer attention to how crypto firms manage risk. BCB is known to provide banking services to some of the largest institutions in the digital asset sector, including Bitstamp, Crypto.com, Gemini, and Kraken. In the EU, there are growing concerns over the compliance of stablecoins, with reports suggesting that Coinbase may soon delist USDT , the third-largest cryptocurrency, due to non-compliance with the EU's Markets in Crypto Assets (MiCA) regulation. MORE FOR YOU ‘This Needs To Stop’—Tesla Billionaire Elon Musk Issues ‘Staggering’ Fed ‘Bankruptcy’ Warning After Sparking Bitcoin Price Panic Microsoft Windows Deadline—10 Days To Update Or Stop Using Your PC What To Know About Liam Payne’s Death: Zayn Malik Postpones Shows, Cowell And Cole React Critics of these enforcement actions argue that regulators are applying a double standard when it comes to crypto companies. Nic Carter, a well-known voice in the cryptocurrency space, has been particularly vocal about what he calls "Operation Chokepoint 2.0," claiming that crypto companies in the US are being unfairly targeted by politically motivated regulatory measures. Others have pointed to the disparity in the treatment of Binance and TD Bank. While Binance’s CEO, Changpeng Zhao (CZ), remains in prison amid allegations of AML failures, none of TD Bank’s top executives have faced similar consequences, despite the bank's significant failings in monitoring its transaction volumes. However, it’s not all doom and gloom for crypto firms. In Europe, there are signs of regulatory clarity and progress for companies that are adapting to the changing landscape. Switzerland-based Sygnum Bank, a digital assets specialist, recently registered with Liechtenstein’s regulators as it prepares for an expansion into the EU. Likewise, Portugal’s Bison Bank has launched Bison Digital, a subsidiary designed to offer regulated services to the growing digital assets industry in Europe. These developments signal that the regulators are not unanimous in their crackdown on the industry. The past two years have seen a sharp increase in regulatory oversight of the cryptocurrency industry, with a particular focus on banks and institutions that service digital assets. Enforcement actions against banks like Customers Bank and United Texas Bank in the U.S. reveal how seriously regulators are taking the crypto sector. Meanwhile, the scrutiny of firms like BCB in the UK and the potential delisting of USDT in the EU further underline the global nature of this regulatory shift. Despite the heightened scrutiny, the outlook for crypto banking is not entirely bleak. While companies in the US are facing enforcement actions, those that embrace compliance abroad are finding opportunities to expand. As banks like Sygnum and Bison Digital demonstrate, there is still room for growth in this rapidly evolving industry. The road ahead will undoubtedly be challenging for crypto banks, but the potential for innovation and expansion remains strong for those able to adapt to the new regulatory reality. Follow me on Twitter or LinkedIn. Check out my website. Boaz Sobrado Editorial Standards Forbes Accolades

 2024-10-20 14:18:00

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Esther Oluku TrustWallet, a blockchain technology trading platform, has promised enhanced security features as part of efforts to safeguard the assets of its over 100 million users. The Head of Marketing, TrustWallet Africa, Mr. Adetayo Kennedy, made the revelation on the sidelines of the company’s meeting with stakeholders to mark its seventh anniversary in Lagos. As one of the biggest Web3 self-custodial wallets in the world with top-tier cyber security features such as multi-layer encryption, enhanced two-factor authentication, real-time threat detection, and regular security audits, Kennedy stated that the Group’s commitment to further upscale its security infrastructure is hinged on the desire to give back to investors who have believed in its vision of trust in the digital trading space since it’s inception. “TrustWallet will be exactly seven years in November and very few crypto companies who started around the same time we started still exist. Thus, we are giving back to the community that has helped us grow this strong to let them know that, as they have supported us for this long, we’re ready to support them back as well. “This we are doing by building a more secure trading platform, improving the products offering and making sure that users get their financial freedom where they are not controlled by any regulation, a decentralized system where they decide how they want to save and spend their money and that is what TrustWallet guarantees at every point in time. “We are doing this because we want to build the community on trust. If you take trust out of the way, we are nothing but a wallet like everybody else. Trust is the reason why everybody has kept on using us and we are 140 million users strong.” Speaking on the importance of the meeting for stakeholders and for the company, Kennedy noted that being a digital company operating on the Internet, the physical meeting helps to demystify the company as a real entity, allow investors to meet each other, creates an avenue to put a face and body to the operators and further strengthen the bond between the investors have for the company. He said: “Cryptocurrency like any other electronic product and wallet is digital so more often than not, the communities themselves do not get to see each other and relate on a physical level, which is the reason why most people do not trust it or trust each other. “But by the time they realize that there are communities around them of real people who do real things in real-time, then it does help strengthen the community to understand each other and encourage others to become part of that community.”

 2024-10-20 11:14:00

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Share to Facebook Share to Twitter Share to Linkedin Making a cryptocurrency purchase with a credit card. TABLE OF CONTENTS Common Payment Methods To Purchase Crypto Can You Buy Crypto With A Credit Card? How To Buy Crypto With A Credit Card Which Exchanges Allow Credit Card Purchases? Pros And Cons Of Buying Crypto With A Credit Card Do Credit Cards Offer Crypto Rewards? Fees That May Be Involved Risks Involved In Credit Card Purchases Security Measures To Consider Is It Worth Buying Crypto With A Credit Card? Alternatives To Credit Cards For Crypto Purchases Bottom line Frequently Asked Questions (FAQs) Whether you are already experienced or just getting started with bitcoin and other cryptocurrencies, you might be interested in buying crypto with a credit card. It is possible to use your credit card to buy cryptocurrency, but it comes with unique considerations and potential fees. This article discusses the pros, cons, risks and security measures involved with buying crypto with consumer credit. By the end, you’ll have the information necessary to decide whether and how to buy crypto with a credit card. Common Payment Methods To Purchase Crypto You may purchase crypto using several common payment methods, including bank transfers, debit cards, PayPal and credit cards. Before we get to credit cards, let’s take a quick look at some of the other common methods of purchasing crypto. Bank Transfers (ACH transfers) Bank transfers, or ACH (Automated Clearing House) transfers, are one of the most common ways to buy cryptocurrency. They allow for significant transfer limits and relatively low fees, making them ideal for small and large purchases alike. This method is supported by most major exchanges. Some banks and exchanges support instant bank transfers. In other cases, it can take a few days for the bank transfer to complete. Despite potentially slower processing times, the cost-effectiveness and ease of use make bank transfers a preferred method for many crypto buyers. Debit Cards Purchasing crypto with a debit card offers convenience and speed, allowing for quick transactions with relatively low fees. Many exchanges support debit cards, giving users a fast and familiar method to acquire crypto. MORE FOR YOU ‘This Needs To Stop’—Tesla Billionaire Elon Musk Issues ‘Staggering’ Fed ‘Bankruptcy’ Warning After Sparking Bitcoin Price Panic Microsoft Windows Deadline—10 Days To Update Or Stop Using Your PC Comet Tracker Tonight: Sunday May Be Your Good Last Chance To See A3 Some platforms may impose transaction limits or additional security verification, but in most cases, debit card transactions are similar to bank transfers. Buying cryptocurrency with PayPal is a convenient option, especially for those who already have a PayPal account. Users can buy, sell, and hold Bitcoin , Bitcoin Cash, and a proprietary stable coin called PayPal USD, with as little as $1. PayPal’s fees for crypto transactions are generally higher than those on dedicated exchanges. In 2022, PayPal made a controversial update to its user agreement that included a clause allowing PayPal to directly debit a user’s account if he or she was found to have posted something online that was deemed to be “misinformation” or “hate speech.” After a significant backlash, PayPal retracted the policy. However, with so many ways to acquire crypto, there is no reason to use PayPal and take the risk that your assets might one day be confiscated because of what you post on social media. Can You Buy Crypto With A Credit Card? Some exchanges allow you to buy cryptocurrency with a credit card, subject to certain limits, locations and credit card provider policies. Using a credit card can be convenient but usually involves higher transaction fees and can also incur cash advance fees. Some credit cards have policies that limit their use for purchasing cryptocurrency; in these cases, attempted purchases of crypto may be declined. How To Buy Crypto With A Credit Card If you are interested in buying crypto with a credit card, here’s a step-by-step guide. 1. Choose A Crypto Exchange Start by selecting an exchange that allows credit card transactions. Research options to find one that offers security, low fees and the cryptocurrencies you’re interested in. Some exchanges offer only bitcoin, while others allow you to purchase several altcoins and crypto tokens. 2. Register And Verify Your Identity Most exchanges require identity verification to comply with government regulations. This process typically involves submitting a government-issued ID and may take a few minutes to complete. 3. Link Your Credit Card Once verified, navigate to the payment methods section and enter your credit card information. It is usually a good idea to contact your credit card company and let them know about your desire to purchase cryptocurrency with your card. If you don’t, there is a high likelihood that your transaction will be automatically declined. 4. Buy The Cryptocurrency Of Your Choice Choose the crypto you want to purchase, enter the amount and confirm the transaction. Some services send the crypto directly to an on-chain address, while others hold it in custody until you withdraw it. Which Exchanges Allow Credit Card Purchases? As of October 2024, here are some cryptocurrency exchanges that allow you to purchase crypto with a credit card: Coinbits is a bitcoin-only exchange that allows you to buy bitcoin with a credit card directly on its public website with no account required. To maximize the chances that your transaction goes through, it’s best to contact your credit card issuer to let them know that you want to use your card for cryptocurrency purchases. CEX.IO is a well-established cryptocurrency exchange and trading platform that has been operating since 2013. Once you create an account you can buy cryptocurrencies with a credit card and other payment methods. Kraken lets you buy crypto with a debit or credit card with verified Intermediate and Pro tier accounts in supported countries. Cards must support 3D Secure (3DS), which provides additional fraud protection. Pros And Cons Of Buying Crypto With A Credit Card When buying crypto with a credit card, there are both pros and cons to consider. Speed and convenience: Credit card purchases are fast and easy. Immediate access to funds: Your crypto becomes available almost immediately, without waiting for bank transfers to process. Higher fees: Credit card transactions often come with additional fees, meaning that you will get less crypto for your money. Interest and debt risk: Unpaid credit card balances accumulate interest, potentially adding to the overall cost of your investment Credit card company restrictions: Some providers block or restrict crypto purchases, limiting your options. Do Credit Cards Offer Crypto Rewards? Some credit cards offer crypto rewards, allowing users to earn bitcoin and other cryptocurrency instead of traditional points or cash back. These cards provide an innovative way to passively acquire crypto through everyday spending. Although such card programs had been growing in popularity a few years ago, actions against the crypto industry by the U.S. government in 2022 caused many to shut down. Some credit cards still allow users to earn cryptocurrency rewards. A notable example is the Gemini Credit Card, which offers instant crypto rewards with no transaction fees. Cardholders can earn 3% back on dining, 2% on groceries, and 1% on other purchases, redeemable in bitcoin, ether, or other cryptocurrencies. Unlike many cards, Gemini’s rewards are available immediately, giving users access to crypto with every purchase. The Venmo Credit Card also offers a pathway to crypto rewards. Cardholders earn 3% back on their top spending category, 2% on their second highest and 1% on everything else. While these rewards default to cash back, users can convert them into crypto at no additional cost, providing flexibility for those looking to build a crypto portfolio. Fees That May Be Involved When using a credit card to buy cryptocurrency, fees can accumulate quickly and may vary depending on the exchange, credit card issuer and transaction type. Here are the main fees to consider: Transaction Fees Most exchanges charge a fee for credit card transactions, often between 2-3%, which can be significantly higher than other methods like bank transfers. For example, a $1,000 crypto purchase could cost an extra $20 to $30 in transaction fees. Cash Advance Fees Some issuers categorize crypto purchases as cash advances, which carry a fee of 3-5% and accrue interest immediately. American Express, for instance, may treat a $1,000 crypto purchase as a cash advance, adding $100 in fees. Note that cash advances also forgo the standard grace period for repayment. Foreign Transaction Fees If the exchange operates outside your card’s issuing country, expect a 3% foreign transaction fee. Risks Involved In Credit Card Purchases Using a credit card to buy crypto can be risky, and it’s crucial to understand potential pitfalls before diving in. Here are key risks to keep in mind: Credit Card Security Risks While many reputable exchanges prioritize security, the crypto market is also filled with hundreds of platforms that vary widely in legitimacy. Some may be vulnerable to hacks, while others, in the worst cases, are outright scams. Though credit cards offer fraud protection, compromised information could lead to unauthorized charges and time-consuming disputes. Always choose trusted, well-reviewed exchanges and avoid platforms promising quick profits. Impact On Credit Score And Debt Credit card purchases add to your personal debt, which can increase your credit utilization ratio and potentially harm your credit score. Accumulating high-interest debt from crypto purchases can quickly spiral if values fluctuate, leaving buyers over-leveraged. Only invest amounts you can afford to repay and consider starting with small, manageable purchases to mitigate financial strain. Security Measures To Consider Research the exchange’s reputation for data security before linking your card. Consider using exchanges that offer two-factor authentication (2FA) and avoid using public Wi-Fi when transacting. Is It Worth Buying Crypto With A Credit Card? Whether purchasing crypto with a credit card is worth doing depends on your financial goals and risk tolerance. Consider the fees, potential for debt and your credit card’s policy on crypto transactions. If convenience and immediate access to funds are priorities for you, and you're ready to pay the added fees, using a credit card for crypto purchases might be worth considering. In some cases, crypto purchases may earn reward points, allowing you to offset part or all of the associated fees. This can make using a credit card for crypto a more cost-effective option, especially if you're earning rewards on crypto purchases you’d be making anyway. Alternatives To Credit Cards For Crypto Purchases For those who want to avoid credit card fees, alternatives include bank transfers (ACH transfers), wire transfers and even cash instruments like paper money and money orders. Bank Transfers (ACH Transfers) Bank transfers, or ACH (Automated Clearing House) transfers, are a widely-used and cost-effective way to buy cryptocurrency without incurring high credit card fees. Many exchanges offer bank transfers with little to no transaction fees, though processing can take a few days. This method is ideal for those comfortable waiting a short period to avoid the additional costs associated with instant transactions. Wire Transfers Wire transfers are another alternative for purchasing crypto, and are especially useful for larger transactions. While wire transfers often carry a fee (typically between $10-$30 domestically and slightly more for international), they’re faster than ACH transfers, generally completing within the same day. This option offers a balance between speed and cost-effectiveness, making it a preferred choice for investors moving larger sums. Cash Instruments For those who seek maximum privacy and want to avoid fees, cash instruments like paper money and money orders can also be used, primarily through peer-to-peer platforms. Cash transactions may come with limitations on amounts and availability but offer a straightforward, fee-free alternative to credit-based purchases. Bottom line Using a credit card to buy cryptocurrency is convenient but comes with costs and risks. While credit cards provide speed and flexibility, they often carry higher fees, potential cash advance charges, and increased debt risk. Alternatives like bank transfers, wire transfers and cash offer more cost-effective ways to enter the crypto market for those willing to plan ahead. Ultimately, whether or not to use a credit card depends on your financial goals, risk tolerance and preference for convenience over cost. Always evaluate fees, security and payment flexibility to find the best option for your crypto goals. Frequently Asked Questions (FAQs) Can I Use Any Credit Card To Buy Crypto? Not all credit cards support crypto purchases. Some issuers restrict or block these transactions. It is a good idea to check with your card issuer before attempting to purchase cryptocurrency. Are There Limits To Buying Crypto With A Credit Card? Yes, most exchanges and card issuers have transaction limits to reduce fraud risk. Can I Earn Rewards From Credit Card Purchases Of Crypto? Yes, some cards offer crypto rewards, allowing users to earn bitcoin or other cryptocurrencies on everyday purchases. Some cards treat cryptocurrency purchases like any other purchase, allowing you to accumulate card rewards. What Is The Best Alternative If I Cannot Use A Credit Card? Bank transfers are the most common method of purchasing cryptocurrency. Wire transfers and cash transactions are also good options, depending on your situation. Follow me on Twitter or LinkedIn. Check out my website. Dave Birnbaum Editorial Standards Forbes Accolades

 2024-10-20 11:00:00

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Stablecoins constitute a unique category of cryptocurrencies designed to maintain a stable value by pegging their worth to a reserve asset, such as fiat currency or commodities. This mechanism addresses the notorious volatility associated with traditional cryptocurrencies like Bitcoin and Ethereum, making stablecoins more suitable for everyday transactions and a viable alternative for users seeking price stability in the digital asset space. The stablecoin market has experienced remarkable growth in recent years. By 2024, the market capitalisation of stablecoins has surpassed $150 billion, with prominent players like Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) at the forefront. This expansion highlights their rising adoption across diverse sectors, including remittances, trading, and decentralised finance (DeFi). Think.Nxt Episode 2: Crypto vs CBDCs, What To Use for Digital Transactions?Stablecoins can be broadly classified into the following categories based on their underlying collateralisation methods: Fiat-Collateralised Stablecoins These stablecoins are backed by a reserve of fiat currency, typically held in a bank account. For every stablecoin issued, an equivalent amount of fiat currency is held in reserve, ensuring that the stablecoin maintains its value. Popular examples include Tether (USDT), the first and most widely used stablecoin, pegged to the US dollar, and USD Coin (USDC), a stablecoin backed by US dollar reserves and regularly audited to ensure transparency.Fiat-collateralised stablecoins are generally considered the most straightforward and reliable form of stablecoin due to their direct link to fiat currencies. Commodity-Backed Stablecoins These stablecoins are pegged to the value of physical commodities. For example, Tether Gold (XAUt) is a stablecoin backed by gold reserves. The value of these stablecoins fluctuates with the market price of the underlying commodity, offering an alternative for users who prefer tangible assets as collateral. Crypto-Collateralised Stablecoins Crypto-collateralised stablecoins are backed by other cryptocurrencies. These stablecoins utilise smart contracts to lock up collateral, which can be volatile, to issue a stablecoin. An example is Dai, which is generated by locking Ethereum in a smart contract and minting Dai against it. This method allows for greater decentralisation but introduces risks associated with the volatility of the underlying cryptocurrency. Algorithmic Stablecoins Algorithmic stablecoins do not rely on collateral but use algorithms to control the supply of the stablecoin in response to market demand. When the price of the stablecoin deviates from its peg, the algorithm will either mint or burn coins to stabilise its value. This approach has seen mixed results, with several projects failing due to the complexities of maintaining price stability without collateral. Think.Nxt With Raghav: Is Crypto Valued Because It Can Buy Things Money Can't?Stablecoins play several vital roles within the cryptocurrency ecosystem. By pegging their value to stable assets, they mitigate the volatility associated with traditional cryptocurrencies, making them more suitable for transactions and savings. They facilitate a range of activities, including remittances, online purchases, and trading on cryptocurrency exchanges, by providing a stable medium of exchange. Additionally, stablecoins offer global access to financial services, enabling individuals in regions with unstable currencies to engage in the digital economy without depending on traditional banking systems. As digital assets, stablecoins are programmable and can be utilised for various financial applications, such as smart contracts, decentralised finance (DeFi), and automated trading strategies.Stablecoins have found applications across various sectors, including cross-border payments, enabling fast and cost-effective international transactions, circumventing the high fees and lengthy processing times associated with traditional banking systems. In the DeFi space, stablecoins are often used as collateral for loans, liquidity provision, and yield farming, allowing users to earn interest on their holdings. Merchants can accept stablecoins as a payment method, providing customers with a familiar and stable form of currency for transactions. Many cryptocurrency exchanges use stablecoins as trading pairs, allowing users to trade volatile cryptocurrencies against a stable asset, reducing risk during trades. Think.Nxt Episode 1: Can Crypto Replace Money To Create A New Financial Order?As the stablecoin market has grown, so has regulatory scrutiny. Governments and financial authorities are increasingly concerned about the potential risks of stablecoins, including consumer protection, financial stability, and anti-money laundering (AML) and know-your-customer (KYC) compliance. Without adequate regulation, users may face risks related to fraud, loss of funds, or lack of recourse in the event of a stablecoin issuer’s failure. The rapid growth of stablecoins could pose risks to the broader financial system, particularly if they become widely adopted without proper oversight. The pseudonymous nature of many stablecoins raises concerns about their use in illicit activities, prompting calls for stricter compliance measures. Global stablecoin regulations are evolving as governments recognise their potential and associated risks. The US is debating stablecoin regulations, Senators Cynthia Lummis and Kirsten Gillibrand introduced the Lummis-Gillibrand Payment Stablecoin Act, aiming to establish a regulatory framework for stablecoins to promote a safe, regulated market and maintain US dollar dominance. This bipartisan legislation seeks to foster the growth of stablecoins in the United States. The EU’s MiCAR offers a comprehensive framework for stablecoin regulation, aiming for a harmonised regulatory environment. Singapore’s Payment Services Act and Japan’s Financial Services Agency provide clear regulatory frameworks, positioning them as hubs for cryptocurrency innovation. Think.Nxt With Raghav: Is Exchanging Crypto for Trade Same As the Barter System?The future of stablecoins appears promising, with ongoing developments and innovations in the space. Central Bank Digital Currencies (CBDCs) are being explored by various governments, which could offer a state-backed alternative to existing stablecoins. Additionally, the integration of stablecoins into traditional financial systems could pave the way for broader acceptance and use. However, the challenges of regulation, consumer protection, and technological risks will need to be addressed to ensure the long-term viability and stability of stablecoins as a financial instrument. Stablecoins represent a significant evolution in the cryptocurrency world, bridging the gap between traditional finance and the digital asset world. By providing a stable value, they offer a practical solution for everyday transactions, investment opportunities, and financial services. As the market continues to mature, the role of stablecoins will likely expand, influencing the future of money and finance in the digital age. (Sanhita Chauriha is a data privacy and technology lawyer. This is an opinion piece. The views expressed above are the author’s own. The Quint neither endorses nor is responsible for the same.)What Are the Cryptocurrency Rules and Regulations in Other Countries?(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)

 2024-10-20 10:30:24

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Way back in the 1960s “the personal is political” was a powerful slogan capturing the reality of power dynamics within marriages. Today, an equally meaningful slogan might be that “the technological is political”, to reflect the way that a small number of global corporations have acquired political clout within liberal democracies. If anyone doubted that, then the recent appearance of Elon Musk alongside Donald Trump at a rally in Pennsylvania provided useful confirmation of how technology has moved centre-stage in American politics. Musk may be a manchild with a bad tweeting habit, but he also owns the company that is providing internet connectivity to Ukrainian troops on the battlefield; and his rocket has been chosen by Nasa to be the vehicle to land the next Americans on the moon. There was a time when the tech industry wasn’t much interested in politics. It didn’t need to be because politics at the time wasn’t interested in it. Accordingly, Google, Facebook, Microsoft, Amazon and Apple grew to their gargantuan proportions in a remarkably permissive political environment. When democratic governments were not being dazzled by the technology, they were asleep at the wheel; and antitrust regulators had been captured by the legalistic doctrine peddled by Robert Bork and his enablers in the University of Chicago Law School – the doctrine that there was little wrong with corporate dominance unless it was harming consumers. The test for harm was price-gouging, and since Google’s and Facebook’s services were “free”, where was the harm, exactly? And though Amazon’s products weren’t free, the company was ruthlessly undercutting competitors’ prices and pandering to customers’ need for next-day delivery. Again: where was the harm in that? It took an unconscionable time for this regulatory slumber to end, but end it finally did on Joe Biden’s watch. US regulators, led by Jonathan Kanter at the Department of Justice (DOJ), and Lina Khan at the Federal Trade Commission (FTC), rediscovered their mojo. And then in August the DoJ dramatically won an antitrust lawsuit in which the judge ruled that Google was indeed a “monopolist” which had taken anticompetitive steps to preserve its 90% share of search. The DOJ is now proposing “remedies” for this abusive behaviour, ranging from obvious ones like barring Google from contracts such as the one it has with Apple to make it the default search engine on its devices to the “nuclear” option of breaking up the company. The shock of this verdict to the tech industry has been palpable, and has led some movers and shakers in the Valley to think that maybe electing Trump might not be such a bad idea after all. Some of the loudmouths like Marc Andreessen – and, of course, Musk – have explicitly come out for Trump, but at least 14 other tech moguls are providing more discreet support. And although quite a few tech leaders have – belatedly – come out for Kamala Harris, some are doing so with some reservations. Reid Hoffmann, the founder of LinkedIn, for example, donated $10m to her campaign, but says he wants her to fire Lina Khan from the FTC. The most dramatic evidence of how Silicon Valley lost its political virginity, though, comes from the extraordinary amounts of money that cryptocurrency companies have been putting into the election campaign. The New Yorker reports that crypto companies have already sunk “more than a hundred million dollars” into so-called SuperPACS supporting crypto-friendly candidates. The interesting thing is that this money seems to be aimed not so much at influencing who wins the presidency as at ensuring that the “right” people get elected to the House and the Senate. This suggests a level of political nous that would have been disdained by the early pioneers of the tech industry in the 1960s. Technology might not have been political then; but it sure is just now. John Naughton is professor of the public understanding of technology at the Open University

 2024-10-20 08:00:39

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However, while these patterns are compelling, it’s wise to maintain a balanced perspective. Open interest, while insightful, isn’t a standalone predictor of market movements. Staying well-informed and considering a broad range of market indicators will enable users to make more comprehensive decisions that align with the latest market conditions.

 2024-10-19 18:30:33

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Who invented Bitcoin? That question has become a capitivating mystery for the digital age along the lines of whatever happened to D.B. Cooper or who was Deep Throat in the Watergate scandal. Documentarian Cullen Hoback thinks he has the answer. His new HBO documentary “Money Electric: The Bitcoin Mystery” digs into the rise of crypto currencies and the effort to uncover the true identity of Satoshi Nakamoto, the nom de plume used by the author of the 11-page white paper that set Bitcoin and the broader crypto craze in motion after it was distributed widely online on Oct. 31, 2008. For Hoback, diving into crypto-mania was a natural segue after he probed the netherworld of the internet in his 2021 HBO docu-series “Q: Into the Storm.” That six-episode series posited a theory about the people who are fueling the dangerous and delusional theories peddled under the moniker of QAnon. Both “Q” and “Money Electric” stemmed from Hoback’s interest in how the digital revolution is changing culture and the social order. The rise of crypto has been fueled by the yearning by many to establish a a decentralized financial system — governed by publicly available Blockchain ledgers rather than institutions such as Bank of America or Goldman Sachs — and the growing demand for easier ways to conduct financial transactions online and across borders. “I’ve spent the past 10 years talking about digital rights and digital privacy issues. So making a film about Bitcoin was something that I had wanted to do for some amount of time,” Hoback tells Variety. “I wanted to discuss what [crypto] was trying to be versus what it became. It was trying to be digital cash. It really became something more like digital gold.” “Money Electric” follows Hoback’s investigative effort to shed light on the Satoshi question. He went into it with no certainty that he would reach a firm conclusion. But after immersing himself in crypto culture, he came away with the conviction that the father of Bitcoin is a Canadian crypto developer Peter Todd. Todd has dismissed Hoback’s assertion. On Oct. 9, one day after “Money Electric” debuted on HBO, Todd told the BBC flatly: “I am not Satoshi Nakamoto,” calling the claim “ludicrous.” Todd is a well-known figure from the crypto conference circuit. He spoke to Hoback on camera for “Money Electric.” “We filmed with him on multiple occasions. He likes being on stage. He likes talking about Bitcoin. You can see throughout the last decade, once he was given a microphone, he kind of kind of took that opportunity,” Hoback said. “Assuming he is Satoshi — I think if you’ve gotten away with something for so long and you’ve done such a good job of muddying the waters, you probably think no one’s going to catch you anymore.” Hoback says he pursued the Bitcoin story because the clamor to end the Satoshi mystery made for a compelling story but also because of its broader significance. The inventor of Bitcoin famously held on to 1.1 million coins — or 5% of the 21 million Bitcoins that will ever be mined, according to the protocols laid out in the white paper. At contemporary Bitcoin prices — valued against the dollar at $68,140.74 as of the close of trading Friday — those holdings amount to enormous wealth. There has been speculation that whoever is behind Bitcoin has destroyed or deliberately abandoned those 1.1 million coins. Hoback is skeptical. Hoback funded the first year of work on “Money Electric” out of his own pocket until HBO came onboard. The slow but steady march of crypto products into mainstream financial systems — El Salvador adopted Bitcoin as legal tender in 2021 — has piqued broader interest in the subject. Filmmaker Adam McKay is an executive producer with Hoback on “Money Electric,” as he was on “Q: Into the Storm.” “I only really wanted to tell the story if I felt like we could at least posit a compelling theory for who was behind Bitcoin,” he said. “I picked up where other researchers left off and put together a short list. And I said, ‘OK, if I can get access to some of the players in this network, either one of them is likely to be Satoshi or to have known who created Bitcoin.’ But what really motivated me was the global adoption story. When El Salvador announced that they’re going to be using Bitcoin as legal tender, that really breathed some new life into the story for me.” Crypto markets have been on a wild ride in recent years. The trading price of Bitcoin and other tokens tanked hard in the spring of 2022 but markets have rebounded significantly. Nevertheless it remains a volatile world that is vulnerable to theft, hackers and the loss of the all-important electronic digital “keys” that crypto owners guard as carefully as others would the key to a physical safe deposit box. The implosion of the prominent FTX crypto trading exchange and conviction of founder Sam Bankman-Fried also put a big spotlight on the potential for fortunes to be made by savvy trading of tokens — and the potential for massive fraud. “What I find interesting about Bitcoin is that it is an intersection of unlikely allies,” Hoback said. “You have libertarians, you have people from the financial sector, you have your stock market guys and you have your technologists. You have nerds who sit on their computers all day and then, and then you just have people who are looking for somewhere to put their money with the hope that tthis is kind of their way out of the rat race.” (Pictured top: Peter Todd in “Money Electric: The Bitcoin Mystery”)

 2024-10-19 16:45:00

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Who invented Bitcoin? That question has become a capitivating mystery for the digital age along the lines of whatever happened to D.B. Cooper or who was Deep Throat in the Watergate scandal. Documentarian Cullen Hoback thinks he has the answer. His new HBO documentary “Money Electric: The Bitcoin Mystery” digs into the rise of crypto […]

 2024-10-19 16:37:08

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The Republican candidates in Indiana and West Virginia have each received more than $3 million from Defend American Jobs. In Massachusetts, a super PAC for Republican John Deaton has pulled in $2.6 million from the crypto industry. Deaton, however, is polling way behind Democratic Sen. Elizabeth Warren, who is one of the crypto sector’s top antagonists in Washington. “Elizabeth Warren is not going to lose her election in Massachusetts, so the industry can’t get rid of Warren,” said Delmore. “But they can at least help to vote out candidates who are allied with her against the crypto industry.” One big target is Ohio Democratic Sen. Sherrod Brown, the chair of the banking committee. Some $40 million of crypto money has been directed at defeating Brown, and one PAC has paid for five ads designed to boost awareness of his Republican rival, Bernie Moreno, a blockchain entrepreneur. The race is currently very close and is crucial in determining which party will control the Senate. In House races, around $3.6 million in crypto PAC money has gone to candidates in Arizona, $5.4 million in New York, more than $4.8 million in Virginia, and $5.7 million in California, with half of that spend going to Republican Michelle Park Steel. Crypto PAC money has been party agnostic and not just focused on battleground districts. The focus is on supporting lawmakers who embrace regulation that favors the technology rather than getting in its way. “When we talk about digital assets, when we talk about crypto, that is not about Republicans and Democrats,” said House Majority Whip Rep. Tom Emmer (R-Minn.), at Permissionless. “That’s about Americans, that’s about decentralization of a system that has been, literally, consolidated at the top.” WATCH: Trump family given $337.5 million token stake in new crypto project

 2024-10-19 15:34:04

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In the good rotational movement of the cryptocurrency, there stands several certain coins commanding significantly every week on the strength that they seem to make bold moves that are likely to point to greater opportunities. Three upcoming events are set to explode this coming week. The tokens are Dogwifhat (WIF), Pepe Coin (PEPE), Rexas Finance (RXS). On a constant, each of these excels in a different dimension in the dynamic market of cryptos from tokens used to build communities around memes to those in the forefront of changing the very essence of decentralized finance and its future prospects. So let’s understand why it will be necessary to take a closer look at these cryptocurrencies in the original this week. Dogwifhat (WIF): The New Meme Token on the Block It ought to be noted however that meme coins have absolutely taken center stage in the crypto market since the birth of Dogecoin (DOGE) and Shiba Inu (SHIB). Dogwifhat (WIF) is another such meme token, a fun young coin, much like its predecessors, which understands the power of a good technical and utilitarian joke, and the great potential of community power. As the extreme rise experienced with DOGE and SHIB, Meme tokens however, including Dogwifhat will try to provide them opportunities to address the meme phenomenon that still and ever excites people – be it newbies or veterans of cryptocurrency.Meme tokens are for the attention economy. They are polar, unlike any other conventional cryptocurrencies. A devoted follower base has caused WIF to begin getting standing in the communities as the effort is made to increase its outreach. Although Dogwifhat is still a work in progress, it would be remiss not to explore the value of that coin below the meme craze threshold because it has potential. In the case of Shiba Inu and Dogecoin’s early investors, who made quite a bit of profit, these tokens seemed to have excessive convenience since they offered little in the beginning.WIF has an advantage this week over its competitors owing to its growing social media activity, campaigns being undertaken, and the appeal of meme culture. The token was also traded on some low-profile decentralized exchanges and there are plans to expand onto larger exchanges. Cryptocurrencies like WIF that are geared towards removing borders usually do not follow patterns and do not conform to limitations and constraints often get carried away with human interest. For those who are eager to catch the next trending meme mania, this week, Dogwifhat is expected to be unusually active and should be prepared for the screens of such people. Pepe Coin (PEPE): Meme Culture Resurrected Pepe Coin (PEPE) meme-type cryptocurrency has been in the news in the wider virtual currency ecosystem. Just like it was launched in honor of the famed Internet meme of Pepe the Frog, PEPE is an amalgamation of Sad Frog and DeFi. From the launch of the coin, it has attracted the attention of many due to humorous branding and, more importantly, presence in different DApps.Pepe Coin’s playful story has helped in this regard in a market where meme-centered currencies BDOC are in vogue. Similar to Dogecoin and how it gained a following based on the retelling of its original joke in a funny dog and then Shiba Inu’s ascendance, pale Coin describes its prospects leveraging on its attachment to that other great meme character. However, although PEPE was underlying a quirky meme currency, the token did not remain untouched here, it’s been increasingly on the radar of the people for some time thanks to its community and the so-called meme value that the asset possesses.This week, PEPE is likely to be very active in the market as it transitions to new stages of progress. The coin is already available on a number of DEXs and minor CEXs, and the community forums hint at possible integrations and arrangements within the meme token sector. If you believe in the power of meme coins or you are just swaying with the pendulum of the market, this week the return of Pepe Coin makes it worth monitoring. Rexas Finance (RXS) Though Dogwifhat and Pepe Coin have been referred to as secondary products enjoyed only because it is fun and the community engages Rexas Finance (RXS) cryptocurrency is considered to be of a higher caliber, a real use case crypto asset and making its way into the realm of DeFi. The whole idea of a platform that powering RXS is to enhance asset tokenization which is the integration of the traditional and the blockchain economy. The key difference between Rexas Finance and meme coins is the focus on innovations rather than external market trends, which makes it more attractive for long-term investment.The Real-World Assets Tokenization solution is the most innovative feature of Rexas Finance’s ecosystem that enables the customers to create tokens backed by real-world assets such as real estate, artwork or commodities This revolution accompanied by tokenization of the real-world assets presents tremendous potential in the overall market since all the investors can now invest in portions or shares of previously high-value assets which they could not have accessed.Because of assets tokenized Rexas Finance provides fairly up-to-date DeFi instruments including Rexas Launchpad which is a New Token Project raising funds seeking to realize ideas platform and this, therefore, enhances the utilization of the platform Rexas Finance. Another new dimension is the Rexas AI Generator, which utilizes artificial intelligence to produce engagement and rosters of NFTs and token contracts for quick and effective management. These tools make the Rexas Finance platform a desirable platform among seasoned cryptocurrency traders as well as novice users keen on trying out the DeFi market. Apart from the presale, the project has also controlled the public supplies through promotional activities like the $50,000 USDT Giveaway where 20 winners get $50,000 each. This giveaway has increased brand marketing and promoted the community although Rexas Finance is a project for the long haul. It is the first time DeFi projects propose tokenomics with real utility, attracting not only the DeFi community but already traditional investors. In this regard, this week Dogwifhat (WIF), Pepe Coin (PEPE), and Rexas Finance (RXS) are some cryptocurrencies of interest. Dogwifhat and Pepe Coin are two meme coins that have played a huge role in the crypto industry as they appeal to investors with their potential to go viral and the communities behind them. Even if these coins are backed by the attention and eye-catching aspects of social networks, this does not preclude people from making huge price movements.On the other hand, it is easy to imagine why Rexas Finance (RXS) has serious ambitions in decentralized finance as it comes with a clear roadmap and lots of innovative tools as well as actual applications. Its asset tokenization platform and AI tools are offering a less risky utility-based investment opportunity which makes it a great platform for long-term investors.All these coins have their unique attractiveness In the coming week it would be interesting to follow which coin catches most of the interest and yields the highest returns. These three coins should be on your radar this week whether you want the next meme token that will ignite a rally or a steady-eating DeFi platform that has real-life usage. For more information about Rexas Finance (RXS) visit the links below: Website: https://rexas.com Win $1 Million Giveaway: https://bit.ly/Rexas1M Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance

 2024-10-19 14:26:41

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As the cryptocurrency market grows, ever greater revenues will begin to be sought, both by the market itself and also by its investors. Thus, as the environment has no lack of opportunities and threats, being well-informed makes all the difference. Of the numerous alternatives available, five cryptocurrencies possess the capacity to change the market significantly for better or for worse: Rexas Finance (RXS), ApeCoin (APE), Stacks (STX), VeChain (VET), and Theta Network (THETA). All of these projects will be briefly outlined, and their significance to investors will be explained. Rexas Finance (RXS): Changing the Game in Asset Tokenization Rexas Finance is developing a new concept of finance for the now – no tokenization of real-world assets (RWA). The platform intends to make it easy to convert their physical and non-physical items – such as property, art, and others, into digital tokens that are capable of being traded over blockchains. Such initiative helps alleviate multiple problems prevalent in the conventional financial markets, for instance, lacking liquidity incubus, high gatekeepers, and opaqueness. Rexas Finance Strategy Invest in Financial Liberalization Rexas Finance communication measures are oriented towards the exciting idea of putting forward democratized means of asset possession. With the help of blockchain technology, smart contracts, and decentralized financing, the platform is creating a globally efficient and transparent management system for assets. Considerable funds have already been raised with the help of the presale of this project exceeding $34 million at its stages. In phase four, RXS tokens currently available for $0.06 seem to have a better momentum with many investors rushing in. Also, the campaigning for Rexas Finance’s one million dollars giveaway has been a great tactic in promoting the community based on the fact that most institutional and retail investors who know what the platform offers in the distant future have joined in. ApeCoin (APE) Among the cryptocurrencies with the largest memecoin hype was the widely known ApeCoin which was affiliated with the Bored Ape Yacht Club Assorted NFTs collection. However, Apecoin grew out of its memecoin standing direction as a preferred cryptocurrency for gaming, metaverse, and DAO activities. The Most Fundamental Detail of the Utility of ApeCoin By this time, the investors must have found an activity that is attractive in terms of ApeCoin and would probably turn out to be profitable, that is, the growth of the entire ecosystem of BAYC. Swellers of ApeCoin have the ability to vote and community management on the most powerful features of the Apes, the ApeCoinDAO. Owing to the growing fame of NFTs and the metaverse, Dwelling along with its development, speaks well of broadening the scope of Dwelling along virtual real estate properties and gaming ideas that can be conceived to enhance the worth of the currency. The project is also looking for more partnerships for the project, which will help to diversify the scope of use of the project and increase its growth possibilities in the future. Stacks (STX): Blockchain Technology that Powers Bitcoin Smart Contracts The primary objective of developing Stacks unlike all other blockchain projects in the blockchain space is to facilitate the execution of smart contracts and the deployment of dApps at the Bitcoin network. However, smart contracts are inherent aspects of Ethereum but this is not the case with Bitcoin. Stacking comes in to fill that gap of people wishing to use smart contracts with bitcoins, by providing a blockchain where the transactions of smart contracts are done and anchored to a bitcoin blockchain for security. Why Investors Are Excited About Stacks The focus that Stacks has on augmenting Bitcoin functions without going into the core network has acquired some traction. The eponymous project takes advantage of the security of Bitcoin while making it possible to develop Dapps. This integration opens new prospects for DeFi and for bitcoin NFTs which can make it possible to attract a lot of developers and investors to build on the most secure blockchain network. As Stacks is going to increase the number of business partners and the breadth of the offered ecosystems, the native cryptocurrency of the network in the form base STX is likely to gain a lot of upward potential. VeChain (VET): Revolutionising Supply Chain Management VeChain has been known for quite a while now for its intention to re-engineer supply chain logistics using blockchain technology. The provision of leaked and verifiable details on the lifecycle of products, helps companies increase productivity, transparency, and security within their supply chains. Understanding VeChain’s Increasing Application The collaboration of VeChain with global organizations like Walmart China and BMW indicates its practical application for supply chain management. The system is designed with a blockchain to verify product sourcing, eliminate counterfeit goods, and manage logistics procedures. With most enterprises looking to boost digitalization to be able to match the needs of the always-changing consumers, it is a matter of time before VeChain becomes one of the foremost players in supply chain efficiency improvement. VET would also get promoted as more users embrace the technologies of the network and as a result, investments could yield high returns. Theta Network (THETA): Decentralizing the Process Of Video Streaming The Theta Network is a video-sharing platform that is built on the blockchain. Its goal, at least one of them, is to get rid of buffering and reduce CDN costs using a P2P approach (people are willing to donate their bandwidth and CPU resources for video to be streamed better). Why Theta Network Could Keep Up with Price Increases Theta has strong relationships with leading technology such as Google, Samsung, and Sony as well as entertaining businesses like MGM. These partnerships not only help the project but also provide scope for advancement. Theta makes the streaming service cheaper and better by encouraging users to contribute bandwidth for the purpose of broadcasting. With more users wanting such non-centralized solutions for video streaming, the price of THETA is expected to rise considerably. Can These Cryptos Pay You Back in Multifolds? As it is with every cryptocurrency project, these have their unique features and the potential for growth but it is important to note that the rough edge when dealing with cryptocurrencies is the likelihood of high returns within the shortest time possible. There is no shortcut to 8,500% gains which comes along with a fair share of favourable market dynamics, solid project fundamentals, and the readiness of the masses to adopt it. For Rexas Finance, a case in point is tackling real-world issues within the asset management industry positioning it for increased adoption and hence increased demand for the token. The rise in the flatness of NFTs and the metaverse market favour the growth of ApeCoin as Stacks helps to utilize smart contracts on Bitcoin. The current collaborations VEchain has made provide a good growth plan for the long run whereas the unique way Theta Network approaches video streaming could change the game. Market observers believe these top 5 cryptocurrencies could trigger a surge in value. Rexas Finance stands out for its innovative approaches to the tokenization of real-world assets and successful presales. Meanwhile, ApeCoin, Stacks, VeChain, and Theta also improving in their respective fields with increasing use cases rather than only speculation. While the opportunity for exponential financial returns does exist, investors are encouraged to practice investment diversification, query extensively as well as risk-invest in the particular project. These five projects are some of the next growing ideas when the crypto market matures slowly. For more information about Rexas Finance (RXS) visit the links below: Website: https://rexas.com Win $1 Million Giveaway: https://bit.ly/Rexas1M Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance

 2024-10-19 14:19:32

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Limocoin, une cryptomonnaie africaine innovante, a fait une entrée remarquée sur le marché asiatique en participant au Sommet Blockchain en Inde. Après son succès à Singapour il y a trois semaines, l’équipe de Limocoin a maintenant tourné son attention vers l’Inde, un pays au centre de l’adoption des cryptomonnaies. Lors de cet événement important, le PDG de Limocoin, Émile Parfait Simb, a partagé la vision et la mission de l’entreprise devant plus de 2 000 personnes, en soulignant les innovations apportées par cette cryptomonnaie d’origine africaine. Pendant ce sommet, Limocoin a présenté son objectif ambitieux : créer un million de crypto-millionnaires capables de financer des projets qui contribuent au développement de l’Afrique. Cet objectif reflète l’ambition de Simb et de son équipe : faire de Limocoin un acteur essentiel pour l’avenir de l’Afrique tout en profitant de l’intérêt mondial pour les actifs numériques. Limocoin se distingue aussi par son aspect pratique, en permettant à ses utilisateurs d’acheter des biens et services partout dans le monde. Cet événement arrive à un moment où les marchés asiatiques montrent un intérêt grandissant pour les cryptomonnaies. L’Inde, en particulier, est devenue un lieu fertile pour les innovations dans le domaine de la blockchain, bien que le cadre légal soit encore incertain. Dans ce contexte, la présence de Limocoin au Sommet Blockchain de l’Inde montre une volonté claire de s’imposer sur ces marchés dynamiques et de devenir un acteur de référence pour l’Afrique dans le secteur des actifs numériques. Les perspectives d’avenir pour Limocoin sont ambitieuses et internationales. La prochaine étape de leur tournée mondiale inclut des destinations comme l’Australie, les Philippines, Dubaï, le Qatar et la Malaisie, renforçant ainsi leur présence sur les marchés asiatiques. De plus, l’annonce prochaine de la LIMOCARD, un partenariat avec MasterCard, suscite déjà beaucoup d’enthousiasme. Cette carte vise à faciliter l’accès aux services financiers pour les utilisateurs de Limocoin, rendant la cryptomonnaie encore plus utile au quotidien.

 2024-10-19 13:59:18

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The U.S. economy under Donald Trump and Joe Biden, in 3 charts The U.S. economy remains a heated topic in presidential debates and a top concern for American voters. Eight in ten registered voters say it will be crucial to their vote in the 2024 presidential elections. Trump Media stock plunges after weekslong rally After a weekslong rally that saw shares of Trump Media & Technology Group (DJT) roughly triple in value, the stock took an 8% nosedive Tuesday afternoon. The 10 best cities in America for vacationing on a budget We all deserve a vacation from time to time; the pressures of work, school, and personal relationships are enough to make anyone crave a long weekend in a new city, with high-quality meals and luxurious accommodations. Donald Trump’s new crypto project crashed on its first day Former President Donald Trump’s crypto project, World Liberty Financial, had a rough first day — its website experienced multiple prolonged outages, disrupting the sale of tokens. Lower interest rates will change the game for big banks. Here’s how In their first quarterly earnings reports since the Federal Reserve slashed interest rates last month, big banks are giving investors a glimpse into how they are preparing for a new, potentially less friendly macroeconomic landscape. The Dow and the Nasdaq slump as ASML leads a chip stock rout The Dow and other major indexes experienced losses Tuesday afternoon as chipmakers struggled amid news of potential export caps. In the afternoon, the Dow Jones Industrial Average dropped 118 points, or 0.28%, to 42,939. The tech-heavy Nasdaq and S&P 500 shed 0.8% and 0.4%, respectively. From Walmart to Costco, U.S. retail giants are all-in on Diwali. Here’s why Diwali, a major Hindu festival symbolizing the triumph of light over darkness, is less than two weeks away, and this year, U.S. retailers are embracing the occasion with festive decor, special promotions, and exclusive Diwali-themed offers. Crypto usage has gone to the moon, says new report Crypto usage hits new highs – and shows no signs of slowing down. That’s according to a recent report by venture capital firm Andreessen Horowitz, which found record crypto usage amid a maturing business and tech infrastructure. Trump Media might just be a meme stock, strategist says Doug Cohen, managing director of Fiduciary Trust International, breaks down why meme stocks and crypto are too speculative to be considered good investments The next president will face a debt problem that could lead to a crisis, strategist says Doug Cohen, managing director of Fiduciary Trust International, breaks down why a recession could be on the horizon no matter who wins the election

 2024-10-19 13:00:00

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Each day, more and more people start investing in cryptocurrencies like Bitcoin (CRYPTO: BTC). It's not hard to understand why. Over the past decade, the S&P 500 has risen roughly 278% in value. Bitcoin's value, meanwhile, has soared by more than 17,000% over the same time period. If you want to add huge growth potential to your portfolio by betting on crypto, there's only one ETF that most investors need. There's a reason why Bitcoin is so famous When talking about Bitcoin six years ago, legendary investor Peter Thiel summarized the investment pitch for the cryptocurrency: "Money is the bubble that never pops." Consider the U.S. dollar. It holds value because everyone believes that it holds value. There are some backstop forms of value such as military might and the power of taxation. But in general, currencies like the U.S. dollar -- or even stores of value like gold -- have value because we all agree that they have value. When it comes to investing, the rule is typically to find opportunities that will create hard value in the form of distributable cash flows or real world profits. Betting on what other people think the stock will be worth can be a dicey game. That's why most experts build complex models and analyze financials to determine whether the price they are paying for an investment will be worth the eventual reward. Currency -- or more colloquially, "money" -- is the exception to this rule. Dollar bills don't produce more dollar bills. That's not where their value stems from. Their value, on a core level, is as a social instrument. We all agree that it represents the value of whatever work was put into earning it. Bitcoin operates in very much the same way. It's considered a proof-of-work cryptocurrency, meaning miners are continually working -- in this case, they're solving complex mathematical problems -- to produce more Bitcoins. And while it doesn't have much direct functionality besides as a form of money, it's the first time a form of money has been created that doesn't involve major nation states or other centralized powers. Of course, a bunch of other things are happening in the crypto universe as well. And it's possible that crypto in general enters our daily life in ways we never expected, just as the internet continues to do. But regardless of whether those ventures are successful, Bitcoin will always "work." That is, it will always retain its ability to act as a form of money and a store of value. This is the only crypto ETF you need Due to these factors, most everyday investors only need one ETF to gain exposure to cryptocurrencies: the iShares Bitcoin Trust ETF (NASDAQ: IBIT). As its name suggests, this ETF tracks the price performance of Bitcoin, without requiring investors to bother with the complex custodial issues related to buying Bitcoin directly. The fund currently has an expense ratio of just 0.12% -- even lower than most actively traded funds. And because the fund only tracks the performance of Bitcoin, you don't have to worry about betting on a fast-changing ecosystem of crypto-related start-ups whose future is anybody's guess right now. Decades from now, Bitcoin will likely still exist, while the long list of crypto ventures started in recent years may be a thing of the past. The best part of investing in a crypto ETF like this is that it makes dollar-cost averaging easy. If you buy $50 per month of this ETF, for example, you make sure to continually invest throughout Bitcoin's somewhat volatile trading ranges. That way, you don't need to worry about timing the market, as you're making sure to buy when prices are high and when prices are low -- a wise investing strategy that's a bit more difficult when buying Bitcoin directly. Don’t miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this. On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves: Amazon: if you invested $1,000 when we doubled down in 2010, you’d have $21,121!*Apple: if you invested $1,000 when we doubled down in 2008, you’d have $43,917!*Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $370,844!* Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon. See 3 “Double Down” stocks » *Stock Advisor returns as of October 14, 2024 Ryan Vanzo has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy. The Smartest Crypto ETF to Buy With $50 Right Now was originally published by The Motley Fool

 2024-10-19 11:47:00

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Ripple (XRP) is getting a lot of attention from investors looking to grow their money. At the same time, Fantom (FTM) is struggling, which is making many people think twice about their investments. Now, investors are searching for exciting new projects, and IntelMarkets (INTL) is exactly what they are searching for. This platform is special because it uses AI trading bots to analyze more than 100,000 data points. These bots help traders make smart choices and feel more confident. IntelMarkets (INTL) is creating a buzz, and people are getting excited about its potential. With its robust setup, IntelMarkets could be an excellent chance for anyone wanting to join the $100 million whale club. Ripple (XRP) Continues to Attract Big Investors Recently, Ripple (XRP) has caught the eye of big investors. Reports say its price is around $0.5, which is a nice increase. People are excited because its market cap is likely over $30 billion, showing strong interest in this cryptocurrency. Experts also mention that the trading volume is impressive. Some estimate it has reached about $1.4 billion in the last 24 hours. This means many traders buy and sell Ripple (XRP), increasing its popularity. Investors see this as a good sign for Ripple’s (XRP) future. Furthermore, many believe that this success is just starting. With a solid supply of coins and room for growth, investors feel hopeful. They see Ripple (XRP) as an intelligent choice in the changing crypto world. As more people learn about XRP, it might attract even more interest in the days ahead. Fantom (FTM) Losing Its Spark as Buyers Look Elsewhere Fantom (FTM) is losing its shine in the crypto market. Reports show its price is around $0.7, reflecting a slight drop. With a market cap likely near $2 billion, some investors question whether excitement for Fantom is fading. Moreover, the trading volume is low, estimated at $189 million over the past 24 hours. This decline indicates fewer buyers are interested in Fantom (FTM), prompting some to look for better options. The general sentiment seems less hopeful than before. Experts still see potential in Fantom (FTM), but buyer confidence needs to be regained. With a circulating supply of around 2.8 billion Fantom (FTM), many hope it can spark renewed interest. As the market changes, attracting new investors will be necessary to make Fantom (FTM) relevant. IntelMarkets (INTL): This $0.02 Altcoin Could Be Your Next Big Win IntelMarkets (INTL) is gaining attention, with its current price at about $0.02. So far, it has raised approximately $1.3 million, indicating strong investor interest. With 59 million tokens still available, this might be an excellent time to join. The next round’s price is expected to jump to $0.03, which adds to the excitement. What sets IntelMarkets apart is its use of AI-powered trading robots. These bots help make trading more accessible for everyone, even those not financially savvy. They quickly analyze data from various sources to identify opportunities traders might miss. This feature can help newcomers feel more confident when making trades. IntelMarkets also operates on Ethereum and Solana blockchains, giving traders options based on their preferences. The platform offers self-learning robots and access to exclusive trades, creating opportunities for growth. As more people discover IntelMarkets, interest in this altcoin could increase. Discover More About IntelMarkets

 2024-10-19 11:08:46

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The Republican candidates in Indiana and West Virginia have each received more than $3 million from Defend American Jobs. In Massachusetts, a super PAC for Republican John Deaton has pulled in $2.6 million from the crypto industry. Deaton, however, is polling way behind Democratic Sen. Elizabeth Warren, who is one of the crypto sector's top antagonists in Washington. "Elizabeth Warren is not going to lose her election in Massachusetts, so the industry can't get rid of Warren," said Delmore. "But they can at least help to vote out candidates who are allied with her against the crypto industry." One big target is Ohio Democratic Sen. Sherrod Brown, the chair of the banking committee. Some $40 million of crypto money has been directed at defeating Brown, and one PAC has paid for five ads designed to boost awareness of his Republican rival, Bernie Moreno, a blockchain entrepreneur. The race is currently very close and is crucial in determining which party will control the Senate. In House races, around $3.6 million in crypto PAC money has gone to candidates in Arizona, $5.4 million in New York, more than $4.8 million in Virginia, and $5.7 million in California, with half of that spend going to Republican Michelle Park Steel. Crypto PAC money has been party agnostic and not just focused on battleground districts. The focus is on supporting lawmakers who embrace regulation that favors the technology rather than getting in its way. "When we talk about digital assets, when we talk about crypto, that is not about Republicans and Democrats," said House Majority Whip Rep. Tom Emmer (R-Minn.), at Permissionless. "That's about Americans, that's about decentralization of a system that has been, literally, consolidated at the top." WATCH: Trump family given $337.5 million token stake in new crypto project

 2024-10-19 11:00:02

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As we enter the fourth quarter of 2024, smart investors are beginning to bet on cryptocurrencies with high profit potential. The altcoins making the rounds are Litecoin (LTC), which could soon get an ETF; Uniswap (UNI), which just launched its own chain; and DTX Exchange (DTX), the presale gem that has raised over $5 million. Coincodex predicts the price of Litecoin (LTC) could soar to $90.06. Also, analysts say Uniswap’s value could pump to $17.55. Meanwhile, the cost of DTX Exchange is expected to pump by 1,000% this fourth quarter. Litecoin (LTC) Price Skyrockets As Canary Capital Applies for LTC ETF Asset manager Canary Capital announced Tuesday that it had submitted an S-1 registration for a Litecoin (LTC) spot ETF with the US SEC. If passed, the ETF will offer retail and institutional investors direct access to the Litecoin token. The value of the cryptocurrency has increased following the news. According to data from CoinMarketCap, the Litecoin price has surged by 8.9% on the weekly chart and 11.4% on the monthly timeframe. Regarding price movement, the Litecoin crypto trades close to the 200-SMA ($72.59). Coincodex forecasts the altcoin price could surge to $90.06 by November. Analysts like B_Oltman have given a higher price target, suggesting that LTC could peak at $150 this year. Uniswap (UNI) Active Addresses Increase By 16x In a recent tweet on X, a crypto enthusiast quoting data from Token Terminal revealed that the number of active addresses on the Uniswap network has skyrocketed to 20 million in October. This figure is an increase of 16x in the last year and shows that more users are joining Uniswap (UNI). This increase comes a week after the Uniswap (UNI) team introduced Unichain, its Layer-2 solution built on the Ethereum blockchain. This new chain is aimed at addressing some of the scalability problems of Interoperability in the DeFi market and increasing the transaction throughput for Ethereum’s Main chain. Following the news, the price of the Uniswap coin has recorded some gains on the weekly and monthly charts on CoinMarketCap. It currently consolidates between the 50-SMA ($6.96) and 200-SMA ($8.57). Experts forecast that the new development could attract more activity to Uniswap (UNI), so they forecast that the Uniswap price might jump to $17.55 this fourth quarter. DTX Exchange (DTX), Investors Best Bet For Price Gains DTX Exchange (DTX) is gaining attention as one of the new ICOs with the potential for growth in the fourth quarter of 2024. Investors are rallying around this cryptocurrency after it increased by 300% quickly to reach its current price of $0.08. The goal of the DTX is to build a hybrid exchange that Integrates the strengths of the centralized exchange (CEX) and decentralized exchange (DEX) platforms into one. Over 120k asset classes are available, including FX, bonds indices, cryptocurrencies, commodities, etc. Users can trade without any KYC or identification and remain anonymous. This is a significant advantage for users who prefer to keep their identity private while they seek to trade several different financial instruments on one trading site. DTX offers crypto traders access to over 120,000 assets from the $714.7 trillion OTC derivatives market. Also, DTX Exchange provides traders with sophisticated charts, graphs, and analysis tools to be aware of market shifts. These tools allow traders to make better and more timely decisions than other players in the market. DTX Exchange ensures that DTX holders have a comprehensive trading environment through features such as non-custodial wallets and distributed liquidity pools. The Best Cryptos To Buy in Q4: Litecoin, Uniswap, or DTX If there’s one thing that has been more or less confirmed, it is that the value of Litecoin (LTC), Uniswap (UNI), and the DTX Exchange (DTX) tokens could soar in the coming weeks. While those above are the top crypto coins poised for massive increases, DTX is a better investment opportunity for everyone willing to make a profitable year-end investment. Learn more: Visit DTX Website Join The DTX Community

 2024-10-19 06:56:20

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Pig butchering is a form of investment fraud where scammers persuade their victims into making large investments on fake trading platforms. The scheme—which is commonly associated with cryptocurrency and is surprisingly vegan-friendly—refers to how scammers build trust with their victims before later draining them of their investments. The ruse has proven to be a lucrative cyber threat, with researchers from the University of Texas at Austin estimating that pig butchering scammers have stolen more than $75 billion from victims in the last four years. Since May, Group-IB analysts have identified several fake mobile applications that have been disguised as trading platforms on the Google Play and Apple App Store, and used as part of the global scheme. The cybersecurity company, which was founded in Russia but shifted its headquarters to Singapore in 2019, has classified the fraudulent apps as members of the UniShadowTrade malware family and said the mobile applications were built using the UniApp Framework. Hoodwinked! While Group-IB was unable to pinpoint how cybercriminals are going about targeting their pig butchering victims, the report suggested it is most likely through social engineering tactics on dating and social networking platforms. After building a relationship with their victims, malicious actors are then able to convince them to download seemingly legit applications to execute their crime. One example of a fake app discovered by Group-IB deceived users with a description that claimed it could be used for “algebraic mathematical formulas and 3D graphics volume area calculations.” Users who downloaded the app were prompted to make an account and disclose sensitive information, before being instructed to make a deposit. The cybercriminal is then able to convince the victim to continue investing money on the platform, which they are unable to withdraw. The app has since been removed from the App Store, but Group-IB claims that cybercriminals have continued to circulate it to both Apple and Android users through phishing websites. Another bogus app discovered by Group-IB on the Google Play Store masqueraded as an application that shared stock-related news. The app racked up more than a thousand downloads before being removed by the app store. Group-IB claims it was able to identify pig butchering victims across the Asia-Pacific, European, and Middle East and Africa regions. Zoom out. The recently discovered tactic joins the slew of strategies malicious actors are using to perform investment-related crimes. IT Brew has previously reported that cybercriminals are also sending their victims to their local Bitcoin ATM to secretly drain their accounts and impersonating the web pages of common retail brands as part of their crypto fraud gambits.

 2024-10-18 23:19:13

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 2024-10-18 23:00:00

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SALT LAKE CITY — A year ago, Samara Cohen believed there was so much pent-up demand for bitcoin that she and her team at BlackRock launched one of the first-ever spot bitcoin exchange-traded products in the U.S. Now investors are flocking in, and a lot of them are crypto enthusiasts who are new to Wall Street. Cohen, who heads up the asset manager’s exchange-traded funds and index investments as chief investment officer, told CNBC that BlackRock now sees the demand was for a better way to access bitcoin. “It was for the ETF wrapper,” she told CNBC on stage at the Permissionless Conference in Utah. The total market cap of all eleven spot bitcoin ETFs now tops $63 billion, with total flows of nearly $20 billion. In the last five trading days alone, spot bitcoin ETFs have seen net inflows of more than $2.1 billion, with BlackRock accounting for half of those sales. The spike in trading volume comes as bitcoin hit its highest level since July this week, trading above $68,300. Bitcoin ended the third quarter up around 140% from the same quarter a year ago, outpacing the S&P 500, as these spot token funds and the crypto market cap move higher in lock-step. Crypto-aligned stock Coinbase closed up about 24% this week, its best week since February. Cohen told CNBC that part of the strategy for attracting customers to its funds was teaching crypto investors about the benefits of exchange-traded products (ETPs). 13F filings, which offer quarterly reads on equity positions taken by large investors, show that 80% of the buyers of these new spot bitcoin products in the U.S. are direct investors. Of the 80% of direct investors, Cohen told CNBC that 75% had never before owned an iShare, one of the best-known and largest ETF providers on the planet. “So we went into this journey with the expectation that we needed to educate ETF investors on crypto and on bitcoin specifically,” said Cohen. “As it turns out, we have done a lot of education of crypto investors on the benefits of the ETP wrapper.” Before the U.S. Securities and Exchange Commission green-lit spot bitcoin funds in January, investors had a few ways to buy and custody cryptocurrencies. A centralized exchange like Coinbase was among the most user-friendly options for U.S investors. But the blockbuster debut of bitcoin ETPs has laid bare to Cohen and others across Wall Street, that crypto exchanges weren’t giving digital asset investors everything they needed.

 2024-10-18 22:47:05

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Bitcoin’s recent price surge has caught investors’ attention, partly due to its potential link to Donald Trump’s improving chances in the upcoming U.S. presidential election. The digital asset has risen by about 13% in the past week, outpacing global stock indicators and gold. Billionaire Stan Druckenmiller pointed to crypto as one of the signs that markets are pricing in a Trump victory. Trump has pledged to make the U.S. the crypto capital of the world if he wins the tight race against his Democratic rival. His opponent in the election is Vice President Kamala Harris. The cryptocurrency’s advance coincided with shifts in prediction markets, where people can bet on election outcomes. On the Polymarket platform, Trump‘s odds have increased to 60%, while Harris’s have decreased to 40%. PredictIt shows Trump’s chances at 54%, compared to Harris’s 50%. Arisa Toyosaki, co-founder of crypto derivatives provider Cega, noted that enthusiasm in prediction markets is causing high levels of implied volatility. She also mentioned that this has led to a rally in Bitcoin spot prices. Net inflows into a group of U.S. Bitcoin ETFs have exceeded $285 million ($1.6 billion) since October 11. Price Surges Amid Political Shifts Bitcoin traded around $67,300 on Thursday in London, compared to its March record of $73,798. Though prediction markets favor Trump, most polls show a margin-of-error difference with less than three weeks until Election Day. Harris has taken a nuanced stance on cryptocurrencies, promising to support a regulatory framework for digital assets and sector growth with proper safeguards. Her position has sparked optimism among crypto traders, as it contrasts with the Biden Administration’s crackdown. Meltem Demirors, general partner at Crucible Capital, told Bloomberg Television that crypto’s emergence as an election issue is directing attention to bitcoin. She added that it is also drawing focus to crypto assets in general. This attention translates into sentiment, which drives flows. Trump’s support for the sector marks a shift from his previous stance, where he once called it a scam. Digital asset firms have become influential players in elections through large donations to political action committees seeking friendlier rules. Druckenmiller stated in a Bloomberg Television interview that the market over the last 12 days seemed “very convinced” of a Trump victory, visible in bank stocks and crypto performance. As the election approaches, the connection between Bitcoin’s price and political developments continues to intrigue investors and analysts alike.

 2024-10-18 22:27:05

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Oct 18 (Reuters) - The U.S. securities regulator has granted "accelerated approval" to 11 exchange-traded funds to list and trade options tied to spot bitcoin prices on the New York Stock Exchange, according to a regulatory filing. The Securities and Exchange Commission (SEC) had in January approved the bitcoin ETFs to track bitcoin, in what was a watershed for the world's largest cryptocurrency and the broader crypto industry. Advertisement · Scroll to continue Fidelity Wise Origin Bitcoin Fund (FBTC.Z), opens new tab, the ARK21Shares Bitcoin ETF, the Invesco Galaxy Bitcoin ETF (BTCO.Z), opens new tab, the Grayscale Bitcoin Trust BTC (GBTC.P), opens new tab and the iShares Bitcoin Trust ETF (IBIT.O), opens new tab are among funds that received the approval on Friday. The index options - listed derivatives offering a quick and inexpensive way to amplify exposure to bitcoin - on a bitcoin index would give institutional investors and traders an alternative way to hedge their exposure to the world's largest cryptocurrency. Advertisement · Scroll to continue Options are listed derivatives that give the holder the right to buy or sell an asset, such as a stock or exchange-traded product, at a predetermined price by a set date. The regulator last month approved listing and trading of options for asset manager BlackRock's (BLK.N), opens new tab, exchange-traded fund on the Nasdaq. Reporting by Jaiveer Singh Shekhawat and Hannah Lang; Editing by Sriraj Kalluvila XFacebookLinkedinEmailLinkPurchase Licensing Rights

 2024-10-18 22:06:10

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