Crypto News on 04 Nov, 2024

     Catch up on all the key developments in the cryptocurrency world from October 2, 2024. On this day, the crypto market saw significant movements, regulatory updates, and breakthrough announcements from leading blockchain projects. Explore in-depth analyses, price fluctuations, and expert commentary on trending coins and tokens. Whether you're tracking Bitcoin's latest performance or the rise of altcoins, our detailed coverage ensures you're always informed about the latest in crypto.

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Doge Jones Industrial Average: Igniting A Cultural Shift In Financial Consciousness

The cryptocurrency industry continues to expand with new projects emerging as potential use cases for the broader financial market, and one project, the Doge Jones Industrial Average (DJI), is sparking a financial revolution with the recent launch of its token and the upcoming launch of its cutting-edge memecoin sentiment tracker.Traditional financial systems are faced with increasing skepticism due to outdated processes and other issues. Gen Z and Gen Alpha consumers are now turning to innovative solutions such as memecoins in hopes of securing their financial future and achieve goals of the FIRE (Financial Independence, Retire Early) movement.What is DJI?The Doge Jones Industrial Average offers real-time sentiment feeds, customizable moon countdowns, and expert FOMO/FUD (fear of missing out and fear, uncertainty and doubt) analysis.The DJI embraces the widespread belief among many crypto users that memecoins can elevate people's financial status. It captures the market's meme-fueled pulse and empowers people to participate actively in the burgeoning memecoin economy.Meme tokens account for some $60 billion of the crypto industry's total market cap at $2.4 trillion as of early Monday. Ranking above the rest is Dogecoin (DOGE), with a staggering $2.6 billion market value.Toward Flipping Dow JonesThe DJI community has devoted itself to an audacious mission: "Flip the Dow." The ultimate goal is to overtake the market cap of the Dow Jones Industrial Average, and so far, things are on the right track."Inspired by pioneers like Goatseus Maximus's GOAT coin and Moo Deng, and guided by thought leaders like Muad Mahmudov, we are at the forefront of a seismic shift. The Doge Jones Industrial Average isn't just another memecoin—it's a catalyst for change in this new era of finance," DJI spokesman and chief evangelist Amith "Internet Dollar" Nirgunarthy said in a press release shared with International Business Times.While DJI was created as a satirical take on traditional finance, it is a unique challenge to the "seriousness of conventional financial systems" and its utility lies in the heart of the token's community.Leveraging the Potential of the Memecoin FrenzyThe DJI team believes in the "unstoppable" power of meme tokens. They believe DJI can ignite a movement in the memecoin segment to shake the very foundations of traditional finance.There has been talk of a "memecoin supercycle" in recent weeks, especially after Bitcoin challenged its all-time high last month. For the team behind DJI, a supercycle in the meme token sector isn't a far-off dream."Financial freedom is no longer just a dream; it's a movement driven by community and innovation. Memecoins represent the democratization of wealth, breaking down barriers that have long kept younger generations in financial anxiety," said Nirgunarthy.Data from CoinGecko shows that DJI is up by a staggering 113% in the last seven days. The token, which isn't even a month old, has also been up by nearly 50% in the last two weeks.

 2024-11-04 12:00:03

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Crypto exchange Coinbase faces $300M token listing fee allegations

In a recent development, cryptocurrency exchange Coinbase has found itself at the center of allegations surrounding exorbitant token listing fees. Andrew Cronje and Guo Yong Sun have reportedly accused the exchange of charging projects up to $300 million to list their tokens. While exchanges typically charge listing fees to vet projects and enable trading of new assets, the figures stated by Cronje and Sun far exceed industry norms. The allegations claim that Coinbase demanded nine-figure sums running into hundreds of millions from various blockchain projects seeking to be listed on the popular trading platform. Such exorbitant fees, if proven accurate, could severely disadvantage smaller projects unable to meet the financial demands. It may also give the impression that Coinbase listings can be “bought” rather than earned based on merit. The exchange is yet to issue an official statement addressing the specific allegations. Industry observers note that the rumors, even if unsubstantiated, are likely to undermine confidence in Coinbase’s listing process. It could potentially drive more projects to opt for decentralized exchanges and automatic market makers that involve negligible to no direct fees for projects. Centralized exchanges also run the risk of losing patronage to competing platforms with more transparent listing criteria. Overall, the allegations have cast Coinbase in an unfavorable light and triggered a debate around lack of transparency in token listing decisions and fee structures across cryptocurrency exchanges in general. The claims by respected industry figures are serious and warrant detailed clarification from Coinbase to clear the air.

 2024-11-04 11:45:42

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StanChart Crypto Custodian Zodia in Talks to Raise $50 Million Round - Bloomberg

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 2024-11-04 11:09:26

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Ethereum Researchers Step Back Amid Conflict of Interest Issues

Concerns over potential conflicts of interest have prompted Ethereum researchers Justin Drake and Drankrad Feist to resign from their roles at EigenLayer, a decentralized protocol that facilitates the building of new applications on the Ethereum blockchain. This decision comes in the wake of their disclosure regarding substantial token payouts they received from EigenLayer, raising eyebrows within the cryptocurrency community and igniting debates over transparency and governance in decentralized finance. Drake and Feist, prominent figures in Ethereum’s research ecosystem, have been instrumental in developing solutions that enhance the blockchain’s capabilities. Their unexpected announcement, which occurred during a conference in May, has sent ripples through the community as stakeholders reevaluate the integrity of research and development processes in the burgeoning space of decentralized finance. The duo’s significant financial gain from EigenLayer led to allegations that their research might be unduly influenced by their financial interests, which contradicts the principles of neutrality and independence that are paramount in scientific research. EigenLayer, which is positioned to allow users to “re-stake” their Ethereum holdings to support new projects, has gained considerable traction since its inception. This new model offers unique incentives for Ethereum validators, enabling them to earn additional rewards. However, the implications of the researchers’ exit from the organization raise critical questions about the governance structures in place at EigenLayer and similar decentralized protocols. The incident underscores the urgent need for clearer guidelines regarding conflicts of interest in the cryptocurrency sector, where financial incentives can significantly impact the direction of research and innovation. The resignation also highlights broader trends in the cryptocurrency world regarding governance and ethical considerations. With a growing number of projects emerging within the DeFi space, stakeholders are increasingly scrutinizing the motives and backgrounds of those involved in protocol development. Concerns regarding the potential for conflicts of interest are not new; however, they have gained prominence as the stakes have risen. As more researchers, developers, and investors enter the field, the call for transparent practices becomes louder. The fallout from Drake and Feist’s decision has reverberated through the Ethereum community. Developers, investors, and enthusiasts have expressed concerns about the potential ramifications on EigenLayer’s ongoing projects and the overall trust in research conducted within the Ethereum ecosystem. The incident serves as a cautionary tale, illustrating how the intersection of finance and technology can create challenges that extend beyond the technical realm. Despite the controversy, EigenLayer has attempted to address these concerns by emphasizing its commitment to transparency and governance reforms. The organization has stated that it will engage with community members and stakeholders to bolster trust and implement measures that safeguard against potential conflicts of interest. Initiatives aimed at enhancing accountability and promoting ethical conduct are being discussed, reflecting a growing awareness of the need for robust governance frameworks in the rapidly evolving landscape of decentralized finance. The impact of this controversy reaches beyond just EigenLayer. It prompts a reevaluation of how projects in the DeFi space handle disclosures related to compensation and potential conflicts. Other protocols are likely to examine their own governance practices and consider implementing stricter guidelines to maintain integrity and public trust. As the crypto market continues to expand, the need for clear ethical standards and transparency will be vital to ensuring the sustainability and credibility of projects. This situation has also sparked discussions about the role of researchers in the cryptocurrency ecosystem. As vital contributors to the development of blockchain technology, researchers are often placed in positions where their findings and innovations can significantly impact market dynamics. With financial interests at play, the challenge lies in maintaining objectivity while also reaping the rewards of their contributions. The Ethereum community now faces the task of redefining the boundaries of acceptable behavior for researchers and developers within this space. The incident has reignited conversations around community governance within decentralized projects. As more voices demand accountability, the pressure mounts for protocols to adopt more democratic and transparent decision-making processes. This shift may lead to the development of frameworks that prioritize community input and oversight, aiming to balance the interests of various stakeholders.

 2024-11-04 10:50:44

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A $900 investment in these 5 Cryptocurrencies can get you your dream home by 2026

Imagine securing your dream home with just a $900 investment. These 5 cryptocurrencies are positioned for explosive growth by 2026, offering the potential for life-changing returns. Dogecoin (DOGE) Dogecoin is a digital asset that utilizes a custom proof-of-work consensus protocol to enhance instant payments on its ledger. Shiba Inu (SHIB) Shiba Inu aims to develop a huge ecosystem in the crypto industry. Shibarium is a layer-2 blockchain solution that focuses on DeFi applications. In addition, the project has enabled NFTs and staking options, looking to add real-world uses and attract many users. Cardano (ADA) Cardano is a blockchain-crypto project that has huge potential to reach 25X. Moreover, the Cardano team is working continuously on the project’s upgrade. Many developers and DApps, are migrating now to Cardano. This indicates the price of ADA will rise. TRON is a decentralized, blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm, and a cryptocurrency native to the system, known as Tronix. Rexas Finance (RXS) Rexas Finance is the user’s gateway to the future of asset management. Rexas Finance enables users to own or tokenize digitally any real-world asset, from real estate to commodities, on a worldwide scale. With Rexas Finance, users can gain a market where asset investment chances are endless. Rexas Token Builder: It is normally used to tokenize their real-world assets and commodities. To make it easy for individuals to get digital ownership and offer access to the global market. Rexas Launchpad: This feature helps the asset owners raise funds for their tokenized assets, offering liquidity and new investment options for the crypto users. Rexas Estate: The project’s one of the most exciting features is Rexas Estate which enables crypto users to co-own the real-world assets and earn passive income in stablecoins. Rexas GenAI & DeFi: It is mainly utilized by artists who can use Rexas GenAI to develop and tokenize digital artworks, while Rexas DeFi allows users to swap digital assets across multiple networks with ease. Rexas Treasury: A multi-chain yield optimizer that enables users to earn compound interest on their crypto deposits, which adds one more layer of financial utility to the project. Rexas Finance began the presale of the native token RXS on September 8, 2024. The total supply of RXS tokens is 1 billion. Rexas project has raised over $4.2M until now, with 80% of the fourth stage of presale over. This presale event is important for the platform as it allows early investors to engage in what might turn into a revolutionary solution for RWA tokenization. About Rexas Finance (RXS) Rexas Finance is the user’s gateway to the future of asset management. Rexas allows users to own or tokenize virtually any real-world asset, from real estate and art to commodities and intellectual property worldwide. With Rexas, users gain access to a world where asset liquidity and investment choices are boundless. 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 DISCLAIMER – “Views Expressed Disclaimer: Views and opinions expressed are those of the authors and do not reflect the official position of any other author, agency, organization, employer or company, including NEO CYMED PUBLISHING LIMITED, which is the publishing company performing under the name Cyprus-Mail…more

 2024-11-04 09:29:26

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HashKey Capital Bullish On Altcoins – Institutional Adoption Of Stablecoins, Real-World Ultility

In the fast-evolving world of blockchain technology and cryptocurrencies, altcoins gained ground in the last month, driven by the positive momentum of Bitcoin during the "Uptober" season.While an uptick in the world's largest crypto asset by market value is undeniably a driver of positive activity within the broader blockchain industry, leading crypto investment firm and platform HashKey Capital is bullish on altcoins beyond Bitcoin's impact.In a recent report titled "Why We're Bullish on Altcoins" that it shared with International Business Times, HashKey Capital revealed three bullish signals on why it expects altcoins to possibly surge further in the coming months.Institutional Adoption of ETFs, And Now StablecoinsThe crypto industry's colorful history has been marred by mistrust and skepticism. However, the tides have been changing, as proven by the influx of institutional firms tapping into the industry through exposure to spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs)."ETFs will boost the price of Bitcoin and its dominance, which is crucial for an Altcoin season. Therefore, if we observe significant inflows into the ETF, we can expect an altcoin season to be on the horizon," Jupiter Zheng, Partner of Liquid Funds & Research for HashKey Capital, and an author of the report, told International Business Times.Indeed, BTC ETFs have been on a wild roll since their approval in January. While Bitcoin ETFs took only nine months to post $20 billion in total net flows, gold ETFs had a five-year trek toward the same milestone.Following the Bitcoin and Ethereum ETFs frenzy, institutions are beginning to explore the opportunity in the massive stablecoin segment.HashKey Capital pointed to the Solana network's role in accelerating institutional adoption over the past year. The crypto asset manager noted how Solana's collaborations with major institutions such as Visa and PayPal helped drive interest in stablecoins among traditional and digital financial service providers.Macro Tailwinds May Benefit AltcoinsCurrent macro tailwinds may also benefit altcoins, not just Bitcoin, and among such drivers is the Federal Reserve's recent interest rate cuts."This has resulted in ample liquidity within the system and encouraged people to seek more emerging yield opportunities, as traditional risk-free rates are very low," the report noted.It's not just the U.S. that cut rates. China's central bank cut two key rates to help boost the economy, and the Bank of Canada also cut rates amid inflation woes."As U.S. monetary easing extends into next year, we believe major altcoins with relatively high staking yields, such as ETH and SOL, are likely to benefit," HashKey projected.Spotlight on Real-World Utility May Lead to Altcoin Demand SpikeHashKey observed that the convergence of artificial intelligence, DePIN (decentralized physical infrastructure network), and real-world asset tokenization have driven demand for altcoins across diverse industries.A key example is Farmsent, dubbed the world's first farmers blockchain. Earlier this year, Nuklai, the world's first on-chain smart data platform for AI model training and data sharing, partnered with leading layer-1 blockchain for DePIN and RWAs, peaq, to transform agriculture through data-driven applications.Aside from DePIN convergence, RWAs have truly played a key role in driving interest around altcoins. "The involvement of traditional finance (TradFi) is driving the growth of tokenized assets," HashKey Capital noted.Franklin Templeton, which has over $1 trillion in assets under management, has announced plans to tokenize a mutual fund on the Solana blockchain, marking a significant milestone in the tokenization segment's journey toward institutional adoption.HashKey projects that such real-world use cases will eventually demand higher and resolve some of the altcoin supply glut.Altcoins to the Moon Before End-2024?An altcoin season is more likely if Bitcoin continues to climb and break through its previous all-time high. There are also lingering challenges that altcoins need to overcome the altcoin season – when other crypto assets beyond BTC surge – kicks off.HashKey's report reiterated that investors will always prioritize profitability. "Investor preferences and the ability of these venture capital-backed altcoins to establish their product-market fit are critical challenges that must be addressed for altcoins to experience significant growth before the end of 2024," Zheng said.Still, HashKey believes it's not impossible, especially if Bitcoin soars. "In an optimistic scenario, altcoin season is more probable when Bitcoin's price surpasses $80,000," the authors emphasized.On which altcoins will potentially see the biggest gains before the new year, the report highlighted Solana (SOL) and Chainlink (LINK) as the possible 2024 top gainers due to their significant progress and network performance in recent months. Zheng also projected that "some lower-value, fundamentally solid DeFi tokens" can end the year on a positive note.

 2024-11-04 08:43:50

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Bitcoin Trades at $69,000 Ahead of US Elections

As the US prepares to elect its 47th President on November 5, volatility has noticeably increased across investment markets, including stocks and crypto. Bitcoin on Monday, November 4 saw a minor profit of under one percent on both national and international exchanges. At the time of writing, BTC was trading at $69,050 (roughly Rs. 58 lakh) on foreign exchanges, as per CoinMarketCap. On Indian exchanges like CoinSwitch and Giottus, meanwhile, the asset is priced at $70,168 (roughly Rs. 59 lakh). “While the world is waiting for the result of the US presidential elections, It is worth noting that the number of transactions on the Bitcoin network on a monthly basis has already reached its all-time high in October, surpassing the 20 million mark. Even though Bitcoin is so close to its all-time highs and has crossed 60 percent dominance in the market (the first time in close to four years),” the CoinSwitch markets desk told Gadgets360 commenting on the markets. Ether reflected a price drop of 0.28 percent in the last 24 hours. On foreign exchanges, ETH is trading at $2,465 (roughly Rs. 2.07 lakh) as per CoinMarketCap. On Indian exchanges, ETH is priced $2,756 (roughly Rs. 2.31 lakh).Global Crypto Community Flocks to Binance Blockchain Week Presently, Tether, Binance Coin, and Solana recorded price drops alongside Dogecoin, Cardano, Shiba Inu, and Avalanche. Other cryptocurrencies that logged losses on Monday include Chainlink, Bitcoin Cash, Polkadot, Leo, Litecoin, Near Protocol, and Uniswap -- as per the crypto price tracker by Gadgets360. The overall valuation of the crypto sector dipped by two percent in the last 24 hours. Currently, the market cap of the digital assets sector is around $2.25 trillion (roughly Rs. 1,89,18,641 crore), showed CoinMarketCap.Binance CMO Rachel Conlan on How the Exchange Is Engaging Crypto Community USD Coin, Ripple, Tron, Monero, and Stellar managed to hold onto minor profits on Monday. Ardor, Braintrust, Elrond, and Circuits of Value also registered minor gains. “Although technical charts suggest momentum is building, investors' reaction to the election outcome is expected to be the key driver of rice action,” Edul Patel, CEO Of Mudrex told Gadgets360. In the days ahead, crypto insiders anticipate market fluctuations driven by the US election results and an upcoming Federal Reserve policy meeting later this week. .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. Affiliate links may be automatically generated - see our ethics statement for details.

 2024-11-04 07:23:43

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21Shares Files For $XRP ETF – Reiterates XRP Ledger's Transaction Speed, Token's Non-Security Status

The XRP token has been trending in recent weeks amid apparent interest among institutions seeking to provide exposure to the world's seventh-largest cryptocurrency by market value.Following recent filings by some prominent financial institutions, crypto investment platform 21Shares has filed for an XRP exchange-traded fund (ETF), called the 21Shares Core XRP Trust.21Shares Compares Bitcoin Blockchain to XRP LedgerIn its filing, 21Shares, which jointly issued a spot Bitcoin ETF with global asset manager Ark Invest, said that the XRP Ledger, whose native token is the XRP, differentiates from the Bitcoin network through its consensus-based algorithm, the Ripple Protocol Consensus Algorithm."It is this mechanism, as opposed to the proof-of-work mechanism utilized by the Bitcoin blockchain, that allows the XRP Ledger to be fast-energy-efficient and scalable, and therefore suitable for its most prominent use case, the facilitation of cross-border financial transactions," the company stated.It further noted how proof-of-work systems require massive computational power, but the XRP Ledger's mechanism is "extremely lightweight in terms of energy usage."21Shares Reiterates $XRP's StatusAside from highlighting the XRP Ledger's pros over the Bitcoin chain, 21Shares also emphasized the XRP token's legal status."XRP is not a security, and is thus not subject to the protections of the U.S. federal securities laws," the filing stated, a statement backed by a 2023 court ruling wherein a judge found that XRP can only be tagged a security if it is offered to institutional investors.The U.S. Securities and Exchange Commission (SEC) has filed to thwart some provisions of the said ruling, but not the part regarding the XRP's non-security status. Ripple, which the financial regulator sued over its sales of the XRP token and is the largest holder of XRP, has since filed a cross-appeal to challenge the SEC's appeal filing.21Shares is third-mover in the institutional pivot toward XRP ETFs. Bitwise has the first-mover advantage, while Canary Capital is second in line.Market is Sending a Clear Message: GarlinghouseRipple CEO Brad Garlinghouse commented on the development, saying 21Shares' filing is a clear message from the market: "institutional interest in XRP products is stronger than ever."He also jabbed the SEC, saying the Wall Street regulator's continuing "disregard for the court's authority will further erode the SEC's credibility and reputation."$XRP's Road to Top 7Before getting much attention in the crypto space this year, the XRP token was largely in a stagnant state following the SEC's lawsuit against Ripple in 2020. Since then, Ripple has been defending the XRP token, with an unwavering legal team and a faithful community believing that XRP will come through.As of early Monday, XRP remains the seventh-largest cryptocurrency by market cap, with a value of over $28.8 billion according to CoinGecko. Despite not coming close to its all-time high of $3.40 (recorded early in January 2018) since 2020, the token is expected to climb should XRP ETFs be approved.

 2024-11-04 06:40:04

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Potential New Meme Coins Capture Investor Interest

The cryptocurrency market is witnessing a surge of interest in emerging tokens that analysts predict could follow the trajectory of previous meme coin successes. Among the multitude of digital currencies, four specific coins are currently drawing heightened attention for their potential explosive growth. As investors scour the market for the next big opportunity, the community is eager to identify which tokens may rise to prominence in the same way as the now-famous PEPE coin. At the forefront of this emerging trend are Shiba Inu (SHIB), Floki Inu (FLOKI), Dogecoin (DOGE), and the newly launched meme-inspired currency, Wojak (WOJAK). These coins, while tethered to the whimsical and often unpredictable nature of meme culture, demonstrate fundamental characteristics that have sparked interest from seasoned and novice investors alike. Analysts point to a combination of community engagement, social media momentum, and unique branding strategies as pivotal elements influencing these cryptocurrencies’ potential success. Shiba Inu, which started as a playful homage to Dogecoin, has evolved into a prominent player within the meme coin arena. Its community-driven approach and decentralized nature have facilitated a loyal following, leading to significant price fluctuations that investors seek to capitalize on. The Shiba Inu ecosystem continues to expand with initiatives such as ShibaSwap, which allows users to trade various tokens within its platform. Moreover, the introduction of Shiba Inu’s own decentralized stablecoin, TREAT, has further bolstered its position as a multifaceted player in the crypto landscape. Floki Inu, another meme-based cryptocurrency, has made significant strides in establishing its identity beyond mere speculation. With a focus on utility, Floki Inu aims to integrate its currency into a wider array of applications, including play-to-earn gaming and NFT marketplaces. The project has garnered attention through strategic marketing campaigns, including sponsorships and partnerships that elevate its visibility within the crowded crypto space. The growing community of Floki enthusiasts continues to push for adoption and usability, which could enhance its value proposition. Dogecoin remains a staple in the cryptocurrency market, often regarded as the benchmark against which other meme coins are measured. Originally created as a joke, Dogecoin’s robust community and high-profile endorsements from celebrities and industry leaders have propelled it into mainstream recognition. As new projects and tokens emerge, Dogecoin continues to hold its ground, aided by ongoing developments such as increased transaction capabilities and collaborations with prominent brands, which sustain its relevance and appeal. The newly minted Wojak coin represents the latest wave of meme-inspired cryptocurrencies seeking to tap into the cultural zeitgeist surrounding internet memes. Named after the Wojak meme, a character symbolizing various emotions, this coin has quickly gained traction among meme enthusiasts. Early adopters are eager to explore its potential for both profit and community engagement. With social media buzz fueling its initial momentum, Wojak coin is positioning itself as a fresh contender in the meme coin landscape. Market analysts suggest that the rise of these four cryptocurrencies reflects a broader trend within the digital currency space, characterized by the intersection of meme culture and financial speculation. As investors become increasingly adept at identifying emerging opportunities, the excitement surrounding these coins serves as a testament to the evolving dynamics of the crypto market. A pivotal factor in the success of these tokens is their ability to harness community involvement and social media presence. Platforms like Twitter and Reddit play a crucial role in shaping perceptions and driving investment decisions, as enthusiastic communities rally around these coins to promote their growth. The viral nature of meme coins creates a feedback loop, where hype can lead to increased investment, which in turn fuels further hype, creating a self-sustaining cycle. However, the volatility of meme coins poses inherent risks for investors. Many experts caution that the speculative nature of these investments can lead to sharp price fluctuations and potential losses. The market is rife with examples of tokens that have skyrocketed in value only to plummet just as dramatically, underscoring the importance of thorough research and a cautious approach to investing in cryptocurrencies. As the cryptocurrency landscape continues to shift, investors are advised to stay informed about market trends and the underlying technologies of the coins they consider. The evolution of Shiba Inu, Floki Inu, Dogecoin, and Wojak coin illustrates the fluid nature of the crypto market, where the next potential success story can emerge from unexpected corners.

 2024-11-04 05:17:00

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NDTV Analysis: Elon Musk, Donald Trump And World's Largest MAGA Megaphone

The evolution of Elon Musk and Donald Trump's relationship has been a slow burn. Not too long ago, it could best be described as contentious. In July 2022, Mr Musk even suggested the former US President "hang up his hat and sail into the sunset." Fast forward a couple of years and Mr Musk now holds the world's largest megaphone with Make America Great Again (MAGA) printed on it as the US braces for the 2024 presidential elections this November.Elon Musk's influence on X (formerly Twitter) has skyrocketed since its acquisition two years ago, with followers nearly doubling to 194 million.(function(v,d,o,ai){ai=d.createElement("script");ai.defer=true;ai.async=true;ai.src=v.location.protocol+o;d.head.appendChild(ai);})(window, document, "//a.vdo.ai/core/v-ndtv/vdo.ai.js");This meteoric growth, however, is marred by a reputation for spreading misinformation, contributing to political violence in countries like the United Kingdom and Venezuela. Analysts link X's misinformation to real-world harm. Mr Musk's controversial moderation policy changes have weakened X's ability to regulate harmful content, amplifying incendiary rhetoric and spreading misinformation.Engaging with far-right accounts, the self-proclaimed "free speech absolutist" Mr Musk has inadvertently provided these figures with a "personal algorithm booster," amplifying their reach and influence on the platform. According to the Center for Countering Digital Hate, Mr Musk has made at least 50 posts this year concerning the US election that have been debunked by independent fact-checkers, collectively attracting over 1.2 billion views. And none of these misleading posts has received community notes to fact-check the claims.Photo Credit: AFPOne example includes Mr Musk's repost in July of a manipulated campaign advertisement from Democratic nominee and US Vice President Kamala Harris, in which she seemingly referred to herself as "the ultimate diversity hire." This synthetic video has garnered 135.4 million views on X.Mr Musk's increasingly subversive commentary on social media raises questions about his political alignment. How did a technocrat born in a foreign land, who previously voted "overwhelmingly" for Democrats, become Cheerleader No.1 for Republican Donald Trump, a man impeached twice while in office?Elon Musk's Political LeaningBy the time Mr Musk was born in 1971 in apartheid South Africa, Nelson Mandela was into his seventh year of imprisonment in a cramped 8-foot by 7-foot dark cell at the isolated Robben Island prison, serving an 18-year sentence.His rightward lean is the culmination of a political evolution unfolding over decades. As one of the richest and most powerful individuals globally, the Tesla and SpaceX chief's political stances carry weight.Historically, Mr Musk has been somewhat reticent in his political donations. His donations have often straddled the political spectrum, reflecting a more centrist approach earlier in his career. Mr Musk referred to the US government as the "ultimate corporation" at a CEO summit in December 2020. Throughout his career, he has maintained a somewhat cautious approach to political donations, contributing moderate amounts to candidates from both parties.Photo Credit: AFPAt a Vanity Fair event in 2015, Mr Musk stated, "I get involved in politics as little as possible," though he acknowledged the necessity of engaging when business interests are at stake. His donations illustrate this ambivalence; he gave $2,000 to both George W. Bush and John Kerry in 2004, supported California Democrats, and donated $25,000 to the National Republican Congressional Committee (NRCC) in 2006. During the 2008 primaries, he contributed to both Barack Obama and Hillary Clinton but did not support either in 2016.Initially a sceptic of Mr Trump, Mr Musk found himself publicly denouncing the idea of winning the GOP nomination as "embarrassing.""I don't really have strong feelings except that hopefully Trump doesn't get the nomination of the Republican party, because I think that's, yeah ... that wouldn't be good," Mr Musk said at a Vanity Fair event in 2015. "I think at most he would get the Republican nomination, but I think that would still be a bit embarrassing."2016 US Elections: A Radical ShiftMr Musk has admitted to being a Democrat prior to the 2016 elections. His political worldview shifted dramatically during this time, particularly in response to Mr Trump's rise. In various tweets, The SpaceX chief has expressed disillusionment with established political norms and what he perceives as a failure of the political elite to address the real needs of the American people. The divisive atmosphere of the 2016 election seems to have played a role in reshaping his beliefs, leading him to embrace a more libertarian ethos that pushes for individual freedom and scepticism of government intervention.As Mr Trump assumed the presidency, Mr Musk's political donations began to skew significantly Republican. By 2017, he was reportedly spending nearly seven times more on GOP campaigns than Democratic ones. His willingness to accept positions on two of Mr Trump's White House councils highlighted a shift in stance. While Mr Musk initially backed Hillary Clinton's environmental platform, he justified his participation in Mr Trump's business council as a means to raise critical issues, including the controversial travel ban targeting Muslim-majority countries. However, he resigned from these councils in June 2017, citing Mr Trump's decision to withdraw from the Paris Climate Accord, tweeting, "Climate change is real. Leaving Paris is not good for America or the world."Photo Credit: AFPAfter a period of relative silence regarding Mr Trump, his public interactions with the former president began to increase, especially following Mr Trump's attendance at a SpaceX launch in May 2020.As Joe Biden took office, Mr Musk's flirtations with the Trump-led GOP escalated. In mid-2022, he disclosed that he voted for a Republican candidate in a Texas special election. Mr Musk has argued that the Democratic Party has drifted further from the centre, making the GOP appear more palatable.After acquiring Twitter, now known as X, in late 2022, Mr Musk reinstated Mr Trump's account, calling the decision to expel him after the January 6 riots "morally bad" and "foolish to the extreme."Mr Musk publicly defended the former president following his felony conviction, claiming that it undermined public faith in the legal system. He echoed Mr Trump's sentiments that the conviction was politically motivated. Mr Trump has even broached the possibility of the technocrat taking an advisory role in his cabinet should he win the presidency in 2024.The relationship between the two culminated in an official endorsement. Mr Musk's positioning alongside Mr Trump places him in contrast to figures like Mark Zuckerberg, the CEO of Meta, who has maintained a more centrist approach amid the increasing polarisation in tech and politics.The Other Social Media GiantMark Zuckerberg, CEO of Meta (formerly Facebook), has grown increasingly disillusioned with politics. Once seen as a bridge between technology and political advocacy, Mr Zuckerberg has retreated from that role.The Facebook co-founder's disenchantment with politics has been shaped by years of negative experiences in Washington. In a letter to the US Congress in 2021, he revealed that the Biden administration pressured Meta to censor COVID-19 misinformation beyond what he was comfortable with, admitting that this interference made him appear biased. He also noted that he would not repeat his previous financial contributions to support election infrastructure, such as his infamous $400 million donations to the Center for Tech and Civic Life and the Center for Election Innovation and Research, which were intended to improve voting conditions during the pandemic. The contributions, earned severe backlash, especially from Republicans who accused Mr Zuckerberg of trying to bolster Democratic turnout.Mr Zuckerburg has hired prominent Republican strategist Brian Baker to help repair Meta's strained relationship with conservative media and officials. The 2020 "Zuckerbucks" controversy, in particular, has become a flashpoint in Republican criticism of the Meta chief.Mr Zuckerberg has also pivoted away from the political discourse that characterised his company's approach during the 2020 presidential polls. Just days before that election, Mr Zuckerberg was concerned about potential civil unrest resulting from a divided nation. He stated that Meta needed to do "well beyond what we've done before" to protect the electoral process.However, in a recent statement announcing lacklustre third-quarter results, Mr Zuckerberg omitted any mention of democracy or election integrity. Instead, he expressed a focus on creating innovative products, leading analysts to question Meta's commitment to political accountability. This abrupt change is especially striking for those who recall Mr Zuckerberg's frequent reassurances about safeguarding the electoral process and combating misinformation during key electoral periods.How Silicon Valley VotesIn Silicon Valley, once a liberal stronghold, tech elites are increasingly expressing support for Mr Trump. In 2016, nearly all political contributions from Silicon Valley went to Hillary Clinton. By 2020, tech executives intensified their efforts to defeat Mr Trump, except for a handful of contrarians. But something has changed.As reported by the Wall Street Journal, Mr Musk pledged $45 million per month to a pro-Trump super Political Action Committee (PAC) starting in July. Other tech heavyweights like David Sacks, a former critic of Mr Trump's actions surrounding the January 6 Capitol riot, have also thrown their weight behind the former president.In Silicon Valley's heartlands of San Mateo and Santa Clara counties, more than half of voters remain registered Democrats as of 2022, with Republicans making up just 15 per cent. Historically, venture capitalists and tech executives overwhelmingly supported Democratic candidates. According to a Wired analysis, Democrats received $2 for every dollar sent to Republicans from the 20 most active political contributors in Silicon Valley. This remains consistent with a 2017 study showing tech elites favouring progressive policies, from wealth redistribution to immigration reform.However, there's one key issue where tech moguls diverge from the Democratic platform - government regulation. As Biden ramps up antitrust lawsuits against major tech companies, including Apple, Alphabet (Google's parent), Meta, and Amazon, some Silicon Valley elites are gravitating toward Mr Trump, whose economic stance and promises of lighter regulatory burdens appear more appealing to them.The administration's crackdown on crypto, including lawsuits against Coinbase and Binance, has also nudged crypto moguls toward the Republican camp.Amazon chief Jeff Bezos, who has kept a more subdued profile, faced his own controversy when he abruptly cancelled The Washington Post's endorsement of Democratic nominee Kamala Harris - a decision that prompted a mass cancellation by Post subscribers.The repercussions of Mr Bezos's decision were immediate: nearly a quarter-million Post readers ended their subscriptions, perceiving the move as an attempt to appease Mr Trump. While Mr Bezos denies any political intent, many of The Post's loyal readers have their doubts, especially as it has often been critical of Mr Trump's policies.On the other hand, Sam Altman, co-founder of ChatGPT's parent company Open AI, has consistently donated to Democrat politicians since 2013, as per data from OpenSecrets. Mr Altman has reportedly donated over $1 million to Democratic candidates in his home state California alone.2024: What's The EndgameFor months, Mr Musk has used X to promote conservative causes, and push conspiracy theories, often targeting immigration policies and railing against what he calls the "woke mind virus." However, his endorsement of Mr Trump and participation in his public rallies signals Mr Musk's deeper engagement in US politics.Election officials in critical battleground states such as Pennsylvania, Michigan, and Arizona are grappling with a surge in election misinformation emanating from X. Mr Musk's amplification of debunked election claims is posing a serious challenge for officials trying to maintain public trust in the voting process. Despite multiple attempts to fact-check Mr Musk in real time, election officials find themselves repeatedly outmatched. According to CNN, Stephen Richer, an Arizona election official, has even sent personal notes to Mr Musk, urging him to curb the spread of falsehoods.Michigan Secretary of State Jocelyn Benson has been one of the few officials able to counter Mr Musk's claims on X effectively. After Mr Musk posted inaccurate claims about Michigan's voter registration, Ms Benson's fact-check reached over 33 million views. But even this effort led Mr Musk to retaliate, accusing her of lying.Photo Credit: AFP In other battleground states like Georgia, officials are forgoing attempts to engage with Mr Musk directly, instead holding regular press conferences to counter misinformation. As the election nears, officials are increasingly concerned about the unchecked spread of falsehoods on X, which they fear could lead to voter confusion and legal challenges post-election.Beyond misinformation, Mr Musk has been accused of turning X into an echo chamber for conservative voices, reinstating White supremacists and conspiracy theorists while clamping down on content that challenges right-wing narratives.Mr Musk's endorsement of Mr Trump goes beyond shared political ideologies. His vast business empire - spanning Tesla, SpaceX, Neuralink, and X-relies heavily on government contracts, subsidies, and favourable policies. Should Mr Trump return to the White House, the tech billionaire stands to gain access to even more significant opportunities.Mr Musk is building what he calls the "world's largest supercomputer" in Memphis for his AI startup, xAI. This high-stakes project, however, has raised eyebrows and concerns over its secrecy and potential impacts on local resources. According to a Forbes report, neither Memphis residents nor city council members were informed until the project was well underway, despite xAI's rapid progress and heavy resource demands.The report claims that six months ago, Mr Musk's representatives held confidential meetings with local and federal law enforcement agencies, including the FBI, the Department of Homeland Security, and the Memphis Police Department. Organised by the Greater Memphis Chamber, the discussions around the project required attendees to sign non-disclosure agreements (NDAs) with CTC Property, a shell company managed by Mr Musk's close advisor Jared Birchall. Known for overseeing Mr Musk's ventures from SpaceX to Neuralink, Mr Birchall has reportedly enforced similar confidentiality on other Musk-led projects across the USIn just four months, xAI's Memphis facility - dubbed "Colossus" - went online in a repurposed factory near the Mississippi River. This massive supercomputer will draw enough power for 100,000 homes and requires more than a million gallons of water daily for cooling. The Tennessee Valley Authority (TVA), which will provide up to 150 megawatts of electricity, is now developing an entirely new substation to meet xAI's needs. TVA has not commented on its agreements with xAI, and it remains unclear if it signed an NDA with Mr Musk's team.The handling of Mr Musk's project adds to the growing list of NDAs shielding corporate projects from public scrutiny. According to Forbes, in Texas and Nevada, Mr Musk's companies used similar agreements to conceal key details from state officials.Photo Credit: AFP A key element of Mr Musk's potential influence under a Trump presidency is the proposal that he lead a government efficiency commission. During their August conversation, Mr Musk suggested the creation of such a commission to rein in government spending, offering his expertise in cost-cutting. Mr Trump responded enthusiastically, praising the Tesla chief as the "greatest cutter" of jobs and budgets.It is not the first time that a call for an "efficiency commission" has been made. Former President Ronald Reagan established a similar body called the Grace Commission during his presidency between 1981-89.If Mr Musk were to head such a commission, he would gain a direct role in shaping federal spending priorities, giving him unprecedented influence over the government's financial policies. This would also put him in a position to shape regulations that could benefit his own companies. SpaceX, for example, depends on federal contracts for rocket launches, while Tesla benefits from tax credits and subsidies for electric vehicles. Mr Musk's involvement in government could give him the power to shape rules in ways that favour his business ventures.According to the New York Times, SpaceX and Tesla have secured at least $15 billion in government contracts over the last decade.Mr Musk's foray into national politics is not entirely unexpected. His personal and business ethos have always been aligned with a libertarian, anti-regulation philosophy. He has frequently clashed with government oversight, particularly in California, where he fought against public health restrictions during the COVID-19 pandemic and has sparred with labour interests.But Washington is a different arena. The federal government's bureaucracy, regulations, and competing interests present a more complicated landscape than the world of Silicon Valley startups and high-tech innovation. Mr Musk's potential role in a future Trump administration could place him at the intersection of business, politics, and governance in unprecedented ways.Critics argue that Mr Musk's history as a contrarian and his approach to leadership, which has often involved drastic cost-cutting and labour disputes, may not translate well into the political sphere.Mr Musk's political clout has grown significantly since his purchase of X. While his platform has lost value, with investors reportedly losing over $24 billion, Mr Musk's influence in conservative political circles has increased. His willingness to leverage X as a political tool, combined with his ability to engage with Mr Trump and other political figures directly, positions Mr Musk as an unexpected player in the upcoming election.

 2024-11-04 03:49:16

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How crypto mining became Nigeria’s new pandemic

AFTER the dust of the COVID-19 pandemic began to settle, Nigeria was suddenly gripped by a new wave of obsession—crypto mining. What started as an opportunity to earn money from the digital world has spiraled into an addiction that’s slowly creeping into every corner of society. From the hospital to the classroom, the office, and even the road, the rise of crypto mining has become a second pandemic, posing significant risks to Nigeria’s development and safety. Crypto mining, which involves solving complex algorithms to validate transactions on the blockchain and earning coins as a reward, has captivated the attention of many Nigerians. But this fascination with digital currencies has gone beyond reasonable bounds. Scientists in laboratories are now mining coins on Telegram and tapping phones instead of focusing on their experiments—completely disregarding the fact that a minor mistake in the lab could cost patients their lives. Healthcare workers, doctors, and nurses, who should be fully committed to saving lives, are now distracted by mining, placing the well-being of their patients at risk. In banks, where precision and vigilance are essential, bankers have turned their focus from securing the nation’s finances to chasing digital assets. The classrooms, once a place of learning and growth, have become breeding grounds for distraction as students no longer concentrate on their studies but instead scroll through mining platforms. Across offices, from government institutions to private firms, crypto mining has infiltrated every department, consuming valuable time and attention. Even on the roads, drivers are dangerously preoccupied with mining while behind the wheel, increasing the risk of accidents. This obsession has escalated to the point where crypto mining is now the main topic of conversation, overshadowing discussions about pressing national issues. The economy, security, and community welfare have taken a backseat as individuals become consumed by the digital gold rush. The risks to Nigeria’s future If this trend continues unchecked, the consequences could be disastrous. Here are some of the most critical risks the country faces: 1. Public health crisis: When healthcare professionals, particularly doctors and nurses, are distracted by crypto mining, the quality of medical care deteriorates. Mistakes in medication, surgeries, or even basic treatments could result in the death of patients. The potential for a rise in medical negligence cases could also put enormous pressure on Nigeria’s already strained healthcare system. 2. Education decline: Students’ loss of focus in the classroom has long-term implications for the nation’s intellectual capital. When the youth prioritize mining over their education, they are deprived of the knowledge and skills necessary to build a robust and competitive workforce. This could lead to a generation of poorly trained professionals, damaging the nation’s future prospects. 3. Financial Instability: With bankers and financial professionals distracted, the risk of errors in financial transactions, customer management, and even fraud increases. Nigeria’s economy, which relies heavily on trust in the financial system, could face instability as banking operations suffer from negligence and lack of oversight. 4. Accidents and public safety: Drivers engaged in mining while on the road are a danger to themselves and others. The risk of accidents increases when attention is divided between mining apps and safe driving. A rise in road traffic accidents could lead to a spike in injuries and fatalities, further overwhelming the healthcare system and placing additional burdens on families and communities. 5. Decline in productivity: In every office and institution, from government sectors to corporate enterprises, the distraction of crypto mining is leading to a significant drop in productivity. Deadlines are missed, critical decisions are delayed, and the overall efficiency of organizations is hampered. The longer this trend persists, the more it will slow down economic growth and development. 6. Erosion of ethics and responsibility: As people become more consumed by the pursuit of quick money through crypto mining, ethical standards and personal responsibility are eroded. Workers neglect their duties, students abandon their studies, and professionals compromise the safety and well-being of those they serve. This erosion of responsibility threatens the very fabric of society, undermining trust and accountability. The need for balance While the potential to earn through crypto mining can be tempting, it is crucial for individuals to maintain a sense of balance. There is a time for everything, and neglecting important responsibilities in the pursuit of digital currencies is a dangerous path. Nigeria’s future depends on the collective efforts of its people to build a better society—not on the obsession with mining coins. It’s time to wake up to the reality that this new wave of crypto mining is not just a harmless activity but a growing crisis that needs to be addressed. To safeguard our nation’s well-being, we must encourage Nigerians to focus on their work, studies, and responsibilities while engaging with cryptocurrencies in moderation. The health of our people, the strength of our economy, and the future of our youth depend on this balance. Let’s not allow the obsession with mining to become Nigeria’s undoing. Abubakar (Sheikh) writes in fromTudun Wada, Zaria via [email protected] READ ALSO: How I would have solved Nigeria’s problems as president — Atiku

 2024-11-04 00:30:05

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Investors From Stocks to Crypto Brace for US Election Volatility

“Election volatility premium is most pronounced in the bond market on long-end rates, which we believe reflects concerns over higher fiscal risks on a sweep outcome,” said Tanvir Sandhu, Bloomberg Intelligence’s chief global derivatives strategist. “The skew suggests demand for hedges using payer swaptions against a selloff in long-end rates.” Crypto traders are diverging on the election result, with the options market turning from aggressively bullish to a more hedge-focused approach. The implied volatility for short-term contracts such as the 14-day puts has risen significantly while calls with the same expiration remain stable, according to data compiled by crypto liquidity provider B2C2. While there is no clear directional bias with heightened volatility going into the election, increasing premium for calls across longer tenors and termed Bitcoin futures on CME point to a bullish outlook beyond the election, with more rate cuts and potential positive changes in crypto policies in sight next year. Cross-Asset Binary options — in which a payout is triggered if a pair of conditions are met, such as a currency and a stock reaching pre-determined levels — tend to be a popular way to hedge possible outcomes around major events. Such trades have picked up going in the election, according to Esmail Afsah, a derivatives strategist at JPMorgan. “I suspect this is mainly because investors have firm views on how individual assets are likely to behave in the four key permeations of the US election,” Afsah said. “Using hybrid options and betting on the direction of two assets concurrently allows to increase leverage materially and thus improve odds, providing of course that assets do indeed behave as expected.” —With assistance from David Pan, Christian Dass, Jessica Menton and Jan-Patrick Barnert.

 2024-11-03 20:03:31

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Crypto’s Next Challenge Is Balancing TradFi Adoption Versus Regulatory Changes

Share to Facebook Share to Twitter Share to Linkedin Crypto continues to achieve mainstream adoption and onboarding Getty Images As the Presidential race enters the final stretch the crypto sector as a whole has experienced an uptick price levels, investor interest, and TradFi adoption. With bitcoin flirting with fresh all-time-highs – reflecting both optimism for bitcoin overall as well as continued inflows into spot ETF products – this uptick has spread to other areas of the crypto economy. Additionally even the maligned NFT space seems to be recovering, with Ubisoft launching (after several years of development) a blockchain based game (Champions Tactics) featuring NFTs valued between $7 and $63,000 per token. While web3 integration does not seem absolutely required to participate in the gaming experience, analysts anticipate most players engaging with these features for the full gaming experience. Gaming might not strike some veteran investors (crypto or otherwise) as a substantive industry nor clear market indicator the U.S. gaming market size for 2024 is estimated to be worth nearly $60 billion. On top of these indicators TradFi institutions continue to integrate and adopt various aspects of blockchain and tokenization. The billion purchase of Bridge by Stripe, alongside the announcements from PayPal enabling merchant accounts to buy, sell, and hold crypto – including PYUSD – in wallets are recent examples illustrating how seriously payment processors are approaching crypto and stablecoin payments. Yet another recent illustration of this is the partnership announced by Visa and Coinbase, where customers will be able to move funds between Visa debit cards and Coinbase wallets. In addition eligible users can cash out funds from Coinbase to bank account, the latest sign of TradFi/banking integration within the crypto sector. On the other hand the uncertainty regarding U.S. crypto policy continues exist, even as the likelihood of a new SEC chairperson and a pro-crypto Congress seem solidified. As the sector looks set to continue growing and integrating within established financial institutions and markets, there are several things industry advocates will need to balance as these conversations move forward. Centralization Risks Stagnation As crypto continues to integrate within the TradFi banking and financial system this has been seen as good news by the majority of investors, analysts, and crypto policy advocates. Such an approach is easy to understand; with spot bitcoin ETFs approaching nearly $30 billion in assets and inflows continuing the price of bitcoin and other crypto has been on an upward trend. Additionally, by looping in players such as PayPal, Stripe, and Visa the crypto industry receives a large dose of legitimacy especially among non-expert users, not to mention to increasing ease with which investors can access the marketplace. One point that is worth highlighting is that this very centralization and integration can ultimately lead to stagnation if not carefully balanced with the innovative ethos that has powered crypto forward to date. Specifically every large financial institution, payment processor or asset manager has large (and other often global) businesses outside of crypto; these businesses will by necessity take priority over crypto if need be. Following this fact pattern it is reasonable to conclude that the very pathways that have powered crypto might also limit this upside moving forward. MORE FOR YOU FBI Warns Gmail, Outlook, AOL, Yahoo Users—Hackers Gain Access To Accounts Samsung’s Update Decision—Bad News For Millions Of Galaxy S24 And S23 Owners Trump Vs. Harris 2024 Polls: Harris Leads In 2 Surveys, Tie In 3 Others—As Race Tightens Regulatory Overreach A point that any crypto veteran is well versed in is the fact that U.S. regulators have not – to date – taken a pro-innovation approach with regards to cryptoassets. Tax treatment discourages usage as a medium of exchange, the SEC has waged a near constant campaign against the industry, and the lack of Treasury guidance continues to stifle further integration within TradFi institutions. That said, advocates and policymakers should be cautious about the enthusiasm with which a (most likely) pro-crypto Congress will embrace the mandate for writing and passing legislation. Imperfect legislation is virtually guaranteed, but the true risk for the industry lies down another path that remains undiscussed. Regulations, and the entirely regulatory process, almost always tend to favor the incumbent institutions that possess the personnel, payroll, and lobbying mechanisms to help develop and curate policy discussions. Even with the crypto industry spending nearly $200 million on the current election cycle, punctuated by the pledge for $25 million from Coinbase, the sector remains very much a new player in these areas. Crypto native firms, and advocates looking to create a fertile landscape for future innovation, will need to balance the need of policymakers to “do something” with the need for forward looking policies. Policy Timelines Last but not least the reality is that governmental policy and legislation works on a timeline and cycle that is measured in years, something that the technology industry continues to find out via the multiple hearings and lawsuits that have besieged the sector since 2015. Crypto is an industry and economic area well known for moving fast, experimentation, innovation, and the dramatic rise in market capitalization and user base reflects the success of this approach. As the industry matures and continues to partner with TradFi institutions, and by necessity the regulatory apparatus, the acknowledgement that progress might take years will need to be accepted by leaders in the space. That said, this very ambiguity and inconsistent approach has not stopped the industry from growing rapidly and making inroads across the economy so perhaps this adjustment will continue to create an environment that crypto firms can operate within successfully. Crypto continues to evolve and attract mainstream adoption, but investors and advocates alike need to actively monitor trends moving forward. Follow me on Twitter or LinkedIn. Check out some of my other work here. Sean Stein Smith Editorial Standards Forbes Accolades

 2024-11-03 19:07:47

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Investors From Stocks to Crypto Brace for US Election Volatility - Bloomberg

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 2024-11-03 19:00:00

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Rand Low: Cashless society will give us better financial security, fewer germs and smaller carbon footprint

Politician Bob Katter thinks a cashless society will see many people go hungry. He believes those who aren’t tech savvy, mostly the elderly, will fall by the wayside. To some extent he is right. But a cashless society will give us better financial security, fewer germs and a smaller carbon footprint. As Australia veers towards becoming a cashless society, it’s fair to say the ones who will suffer the most are the elderly, the less educated, and the less tech savvy. We are already a long way down that path. It’s inevitable we will go cashless; it’s just a matter of when. Australia is a small, wealthy highly educated, tech-savvy population. That means we can afford to provide the education and technology the elderly and the poor may need during financial transitions. As an idea of how close cash is to becoming obsolete, the Reserve Bank of Australia says only 13 per cent of 2022 payments were in cash, so we are pretty much almost there. You would probably think it would be higher. But when was the last time you took cash out of your wallet to pay for something? Currently our transaction spectrum is a hybrid of cash and cashless (paper notes, metal coins, electronic funds transfers, debit/credit cards). When we do go fully cashless, physical wallets would become unnecessary, fewer germs would be spread via physical money, our carbon footprint by manufacturing money would be reduced, and small business tax evasion would be virtually eradicated. Further, being cashless means all your expenses are tracked as debits from your accounts; thus, you technically have better expense tracking in hindsight. In the criminal world cash is often used to facilitate corruption and bribery. So, it will affect businesses which like to accept cash and under-report their revenues to pay less tax. We will receive more taxes from them. That’s not to downplay the effect going cashless will have on some members of society, which is what sparked the comment from Mr Katter about the consequences. He said he’s fighting to ensure Australians maintain their financial “freedom”, and warned the transition to a cashless society may force some Australians “to go hungry” if they are unable to make payments with a card or digital transfer. Last year The Financial Review reported the ANZ and Commonwealth Bank were among 14 banks, fintechs and payment companies exploring potential use of, and economic benefits for, a central bank digital currency in Australia. Fundamentally, the way we transact today uses fiat currency, which is ultimately currency that has value based on the trust we have on the governments and the central banks backing that currency. I don’t believe we have to go crypto when we go cashless. Likewise there no reason to ban cryptocurrencies altogether. What I would advocate is not that crypto take over in a cashless society, but that crypto is made available, as it is now, for individuals to use alongside other central bank digital currencies. We should educate individuals on the cases and risks, and allow them to use it as a choice of personal freedom. Dr Rand Low is an Associate Professor at Bond University’s Business School.

 2024-11-03 18:00:00

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How To Mine Dogecoin

Share to Facebook Share to Twitter Share to Linkedin Dogecoin cryptocurrency coin close-up, on top of other cryptocurrency coins TABLE OF CONTENTS What Is Dogecoin Mining How Does Dogecoin Mining Work? Dogecoin Mining Vs. Bitcoin Mining How To Mine Dogecoin Dogecoin Mining Pools Explained Calculating Dogecoin Mining Profitability Risks And Challenges Of Dogecoin Mining Bottom Line Frequently Asked Questions (FAQs) Mining dogecoin turns computer power into DOGE rewards through blockchain transaction processing. Specialized hardware solves complex equations to validate network operations, with miners receiving 10,000 DOGE per solved block. A profitable mining operation combines the right hardware, proper setup and smart strategy selection. This article details mining requirements, pool mechanics, equipment specifications and market factors affecting daily mining revenue. What Is Dogecoin Mining Dogecoin mining is a process where computers solve complex mathematical problems to verify and add new transactions to the Dogecoin blockchain. When miners successfully solve these puzzles, they receive newly created DOGE tokens as rewards. This system, known as Proof of Work, maintains the network's security and processes transactions without intermediaries like banks. Miners essentially act as auditors and transaction processors for the Dogecoin network. They bundle pending transactions into blocks, verify their authenticity and compete to find a specific number (nonce) that will make the block valid. The first miner to find this solution broadcasts the block to the network, adds it to the blockchain and collects the block reward plus transaction fees. Currently, miners receive 10,000 DOGE per block, with new blocks generated approximately every minute. The mining process requires specialized computer hardware called Application-Specific Integrated Circuits or Graphics Processing Units, along with mining software and a stable internet connection. While dogecoin originally allowed CPU mining on regular computers, the network's growing difficulty now makes dedicated mining equipment necessary for profitable operations. How Does Dogecoin Mining Work? Dogecoin mining uses the Scrypt algorithm, which differs from Bitcoin's SHA-256. The process starts when a miner's computer receives pending transactions from the network and combines them into a block. The miner's hardware then repeatedly attempts different nonce values, aiming to create a block hash that meets the network's current difficulty target. MORE FOR YOU FBI Warns Gmail, Outlook, AOL, Yahoo Users—Hackers Gain Access To Accounts Samsung’s Update Decision—Bad News For Millions Of Galaxy S24 And S23 Owners Trump Vs. Harris 2024 Polls: Harris Leads In 2 Surveys, Tie In 1 Other—As Race Tightens The Scrypt algorithm makes intensive use of computer memory, which affects hardware choices and energy consumption. When a miner finds a valid solution, they broadcast the new block to other network participants for verification. If the block passes validation, it joins the blockchain, and the miner receives 10,000 DOGE plus transaction fees. The network automatically adjusts mining difficulty every 240 blocks to maintain a consistent one-minute block time. Miners can work solo or join mining pools to share resources and rewards. In pools, participants combine their computing power to find blocks faster, splitting rewards based on their contributed hashpower. The pool operator manages work distribution and reward payments, taking a small fee for these services. This cooperative approach provides more steady income compared to solo mining's all-or-nothing results. Dogecoin Mining Vs. Bitcoin Mining The main difference between dogecoin and bitcoin mining lies in their algorithms. Dogecoin uses Scrypt, which needs more memory but less processing power than Bitcoin's SHA-256. This algorithmic difference means Bitcoin ASICs can't mine dogecoin, creating separate hardware markets and mining communities. Scrypt's memory requirements also make dogecoin mining more accessible to GPU miners. Block times and rewards separate these cryptocurrencies further. Dogecoin creates new blocks every minute with a fixed reward of 10,000 DOGE, while Bitcoin produces blocks every 10 minutes with rewards that halve every four years. Bitcoin's limited supply of 21 million coins contrasts with dogecoin's unlimited supply. These economics affect long-term mining profitability and network security dynamics. Mining difficulty adjustments follow different patterns too. Dogecoin recalculates difficulty every 240 blocks (about 4 hours) to maintain consistent block times. Bitcoin adjusts every 2,016 blocks (roughly two weeks). The shorter adjustment period helps Dogecoin respond faster to hashrate changes, but can also lead to more volatile mining profitability. How To Mine Dogecoin The process involves five key steps: setting up a wallet, selecting hardware, choosing a mining strategy, installing software and collecting rewards. Each step needs careful consideration to build an efficient and profitable mining operation. 1. Set Up A Crypto Wallet Before mining, you need a secure wallet to store your dogecoin rewards. Hot wallets like Trust Wallet or the official Dogecoin Core wallet connect to the internet for easy access and quick transactions. They work well for active trading but face online security risks. Cold wallets like Ledger or Trezor store your private keys offline, offering maximum security for long-term holdings. These hardware devices protect your DOGE from online threats but make frequent transactions less convenient. 2. Choose Your Mining Hardware Modern dogecoin mining demands powerful ASIC miners or GPU setups. Top ASIC options include the Bitmain Antminer L7 (9.16 Gh/s) and Goldshell Mini DOGE (185 Mh/s). For GPU mining, cards like the NVIDIA RTX 3080 or AMD RX 6800 XT deliver strong performance. Your setup needs proper cooling (fans, air conditioning), stable internet and reliable power supply with surge protection. 3. Choose Your Mining Strategy Your mining strategy affects profitability, risk and technical requirements. Each approach offers distinct advantages based on your goals and resources. Cloud Mining: Rent mining power requires minimal technical knowledge but includes hosting fees and trust in third-party operators Pool Mining: Join groups to combine resources and share rewards. Offers steady income and lower hardware requirements but includes pool fees Solo Mining: Run independent operations for full block rewards. Needs substantial computing power and technical expertise but eliminates pool fees 4. Set Up Your Mining Software Popular mining software options include CGMiner, EasyMiner and MultiMiner. These programs connect your hardware to the Dogecoin network and mining pools. CGMiner leads in flexibility and features while EasyMiner offers a simpler interface for beginners. The software needs proper configuration of pool settings, worker details and optimization parameters for maximum efficiency. 5. Collect Your Rewards Mining rewards arrive differently based on your strategy. Pool mining pays small, regular amounts to your wallet address as you contribute work. Most pools offer automatic payments when you reach minimum thresholds, typically 50-100 DOGE. Solo miners receive full block rewards (10,000 DOGE) but less frequently. Monitor your earnings through pool dashboards or blockchain explorers to track performance. Dogecoin Mining Pools Explained Mining pools unite individual miners who share their computing power to find blocks faster. When any pool member discovers a valid block, the 10,000 DOGE reward splits among participants based on their contributed hashrate. Joining a pool starts with creating an account on the pool's website and setting up worker credentials. These credentials go into your mining software configuration to link your hardware with the pool. Most pools use either Pay-Per-Share or Pay-Per-Last-N-Shares payment systems. PPS offers fixed payments for each valid share submitted, while PPLNS rewards miners based on their recent contribution history. Pools charge fees between 1% and 3% of earnings for their services. They provide real-time monitoring dashboards, detailed statistics and automatic payments. Look for pools with servers close to your location to minimize network latency and rejected shares. Calculating Dogecoin Mining Profitability Mining profitability depends on five main factors: hardware costs, electricity rates, mining difficulty, DOGE price and pool fees. Current ASIC miners like the Antminer L7 cost $10,000-20,000 but deliver higher hashrates than GPU setups. Electricity costs vary by location, ranging from $0.04 to $0.20 per kilowatt-hour, which significantly impacts operational expenses. Online mining calculators help estimate potential returns based on these variables. Input your hardware's hashrate, power consumption and local electricity cost to estimate daily profits. Remember to factor in hardware depreciation, cooling costs and maintenance expenses. Most calculators update automatically with current network difficulty and market prices. Mining becomes profitable when revenue exceeds total costs. At $0.10/kWh electricity cost, an Antminer L7 mining dogecoin and litecoin through merged mining might generate $20-30 daily profit at current prices. However, profitability fluctuates with market conditions and network difficulty changes. Risks And Challenges Of Dogecoin Mining Mining dogecoin comes with several technical and financial risks. Hardware failures can occur from continuous operation, especially in high-temperature environments. Equipment repairs and replacements create unexpected costs and downtime. Market volatility affects mining profits directly - sudden price drops can turn profitable operations into money-losing ventures. Network difficulty adjustments every 240 blocks mean your mining rewards can decrease as more miners join the network. Operational challenges include managing electricity costs, maintaining stable internet connectivity and keeping up with software updates. Mining equipment generates significant heat and noise, requiring proper ventilation and soundproofing. The rapid pace of hardware development can make equipment obsolete within 1-2 years, forcing miners to upgrade to stay competitive. Bottom Line Dogecoin mining offers a way to earn DOGE through computing power and electricity investment. Success requires careful hardware selection, strategic choices about mining pools versus solo operations and constant attention to operational costs. The process needs technical knowledge, proper equipment maintenance and awareness of market conditions. Mining profitability changes with DOGE price fluctuations, electricity costs and network difficulty. Before starting, calculate your potential returns using current market data and prepare for ongoing adjustments to your mining strategy. Consider joining a mining pool for steady returns, especially when beginning your mining journey. Frequently Asked Questions (FAQs) Can I Mine Dogecoin On My Laptop? Mining dogecoin on a laptop isn’t practical or profitable. Modern laptops lack the computing power to compete with specialized mining hardware, and continuous mining operations could damage your system from overheating. How Much Can I Earn From Dogecoin Mining? Mining earnings vary based on your hardware's hashrate, electricity costs and market conditions. A modern ASIC miner can earn $20-30 daily at current prices and difficulty levels, but profits change with market fluctuations and network competition. Is Dogecoin Mining Legal? Dogecoin mining is legal in most countries, including the United States, Canada and most European nations. However, some countries like China and Algeria have banned cryptocurrency mining, so check your local regulations. What’s The Best Hardware For Mining Dogecoin? ASIC miners designed for Scrypt algorithm provide the best mining performance and efficiency. GPU mining remains possible but delivers lower returns compared to ASICs due to hashrate and power consumption differences. Do I Need A Special Wallet To Store Mined Dogecoin? Any dogecoin-compatible wallet works for storing mined coins. You can choose between software wallets for active trading or hardware wallets for enhanced security of larger holdings. Follow me on Twitter or LinkedIn. Check out my website. Andrey Sergeenkov Editorial Standards Forbes Accolades

 2024-11-03 16:00:00

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Taylor Swift’s ‘Reputation’ And ‘1989 (Taylor’s Version)’ Have Something In Common

Share to Facebook Share to Twitter Share to Linkedin LOS ANGELES, CALIFORNIA - FEBRUARY 04: Taylor Swift attends the 66th GRAMMY Awards at Crypto.com ... [+] Arena on February 04, 2024 in Los Angeles, California. Taylor Swift's 1989 (Taylor’s Version) and Reputation both manage to return to Billboard's Top Streaming Albums chart this week, upping her total number of wins to six. (Photo by Neilson Barnard/Getty Images for The Recording Academy) Getty Images for The Recording Academy Taylor Swift is the rare musician who overperforms when it comes to both sales and streams of her music. She regularly ranks among both the bestselling and most-streamed artists in the U.S., and, often, the world. The singer shows how popular she remains on platforms like Spotify and Apple Music this week on Billboard’s Top Streaming Albums chart. Swift fills half a dozen spaces on the ranking, with two of those present titles returning to the ranking. Between her pair of comebacks, 1989 (Taylor’s Version) ranks as the top performer. That former No. 1—one of her two career leaders—re-enters the Top Streaming Albums tally at No. 42. Meanwhile, one of her most talked-about projects—and perhaps even controversial, in some respects—isn’t far behind. Reputation settles at No. 44 this week on the Top Streaming Albums chart. Of those two titles, 1989 (Taylor’s Version) is easily the more successful. It’s one of Swift’s only No. 1s on the Top Streaming Albums list, in addition to The Tortured Poets Department. The re-recorded take on 1989 has also spent more time on the tally than her other returning favorite, as it’s now up to 48 frames on the roster. Reputation has yet to reach 40 stays. 1989 (Taylor’s Version) and Reputation may be enjoying another turn in the spotlight, but they currently appear as Swift’s lowest-ranking releases on the Top Streaming Albums chart. Four other holdovers find space above those projects, including one top 10 smash. MORE FOR YOU FBI Warns Gmail, Outlook, AOL, Yahoo Users—Hackers Gain Access To Accounts Samsung’s Update Decision—Bad News For Millions Of Galaxy S24 And S23 Owners Northern Lights Alert: Six More Major Solar Storms Are Coming Soon, Expert Says The Tortured Poets Department lifts a few rungs to make a home at No. 8. Lover and Midnights appear back-to-back, climbing to Nos. 26 and 27, respectively. Further down on the list comes Folklore, which improves slightly to No. 33. Follow me on Twitter. Hugh McIntyre Editorial Standards Forbes Accolades

 2024-11-03 14:00:00

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If You'd Invested $20 in Bitcoin 15 Years Ago, Here's How Much You'd Have Today

Since launching in 2009, Bitcoin (CRYPTO: BTC) has rapidly become one of the best-performing investments of all time. Even small initial investments have turned into millions of dollars. But what if you had purchased just $20 worth of Bitcoin 15 years ago? Would that have been enough to make you a millionaire today? The answer might surprise you. This is how much $20 in Bitcoin would be worth today Roughly 15 years ago, Bitcoin first began trading hands, mostly through manual transactions conducted using online forums. Back then, a single Bitcoin was valued at just $0.00099! Online exchanges weren't launched until 2010, when its lowest price was recorded at $0.04865 on July 14, 2010. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » If you had purchased $20 in Bitcoins from an online forum in 2009, you might have been able to buy over 20,000 Bitcoins. Since a single Bitcoin is worth around $70,000 today, your $20 purchase would have turned into an astounding $1.4 billion! But let's say you waited one more year, until Bitcoins were traded on exchanges, making it easier for you to acquire your stake. Purchasing $20 in Bitcoins at roughly $0.05 per coin would have resulted in a stake of around 400 Bitcoins. In this case, your $20 purchase would now be worth around $28 million -- still an incredible return, but far short of making you a billionaire. Even though these incredible returns are likely a fixture of the past, there are still plenty of reasons to invest in Bitcoin today. Bitcoin's market cap of $1.5 trillion still pales in comparison to gold's market cap of nearly $19 trillion. Plus, huge sums of money are being poured into the cryptocurrency space to build out new infrastructure, networks, and services -- similar to the early days of the internet. Where Bitcoin's price will end up over the long term remains anyone's guess. But there's no doubt the original cryptocurrency has been incredibly profitable for long-term investors with very patient mindsets. 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 $22,292!* Apple: if you invested $1,000 when we doubled down in 2008, you’d have $42,169!* Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $407,758!

 2024-11-03 12:32:00

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Top 10 Cryptocurrencies by Market Cap

by Vivek , 08 Aug, 2024

Top 10 CryptoCurrencies

Market capitalization, or market cap, is calculated by multiplying the current price of a cryptocurrency by the total number of coins or tokens that are in circulation.
As of August 2024, the top 10 cryptocurrencies by market cap represent a diverse array of digital assets, each with unique features and applications. Bitcoin (BTC) leads the market as the first and most valuable cryptocurrency, often regarded as digital gold. Ethereum (ETH) follows