**Crypto Takes Center Stage in 2024 US Elections**
As the 2024 US elections approach, digital assets are becoming a hot political topic. Industry leaders and advocates are pushing candidates to adopt pro-crypto policies and embrace the future of money.
**Key Legislation to Watch:**
- **Financial Innovation and Technology for the 21st Century Act (FIT21):** Aims to establish a clear regulatory framework for decentralized assets, with oversight split between the CFTC and SEC. Passed the House in May 2024, now awaiting Senate approval.
- **CBDC Anti-Surveillance State Act:** Seeks to prevent the Federal Reserve from creating a consumer-facing central bank digital currency. Passed the House, pending Senate vote.
- **Clarity for Payment Stablecoins Act of 2024:** Proposes regulations for US-dollar stablecoins, allowing smaller issuers to be state-regulated. Awaiting votes in both chambers.
- **Digital Asset Anti-Money Laundering Act:** Introduced by Senator Elizabeth Warren, this bill faces backlash for its stringent reporting requirements on digital asset providers. Yet to pass either chamber.
- **Financial Technology Protection Act of 2023:** Aims to combat illicit finance in emerging technologies. Passed the House, awaiting Senate deliberation.
- **Equal Opportunity for All Investors Act:** Expands the definition of an accredited investor to include those who pass an SEC-administered knowledge test. Passed the House, pending Senate approval.
- **Blockchain Regulatory Certainty Act:** Exempts blockchain developers from traditional financial reporting if they don't handle customer funds. Approved by the House Financial Services Committee, awaiting further action.
- **Keep Your Coins Act:** Protects the use of self-custodial wallets for transactions. Its future remains uncertain.
Stay tuned as these bills could significantly shape the future of digital assets in the US.
**Crypto Industry Faces Major Layoffs Amid Restructuring**
The crypto sector is seeing significant job cuts. Consensys, a blockchain development firm, has reduced its workforce by over 20%, affecting 162 employees. CEO Joe Lubin confirmed the layoffs.
Kraken, a crypto exchange, has also cut 15% of its staff, nearly 400 people. This follows a previous layoff of 1,100 employees in November 2022.
Decentralized exchange dYdX dismissed 35% of its staff, with CEO Antonio Juliano hinting at a new direction for the company. Nova Labs, behind Helium Mobile, also cut 36% of its workforce to focus on its core cellular business.
In other news, Coinbase shares dropped 3.7% after missing Q3 earnings expectations. Reddit sold most of its Bitcoin and Ether holdings, raising $6.87 million. Kraken appointed Arjun Sethi as co-CEO amid layoffs. Circle raised fees for large-scale USDC redemptions, impacting institutional investors.
Stay tuned for more updates on the evolving crypto landscape.
**Zero-Knowledge Proofs: The Future of Decentralized ID**
Zero-knowledge (ZK) proofs are stirring up the crypto world, with debates on their cost and complexity. Critics argue ZK is pricey, but Leo Fan, co-founder of ZK hardware company Cysic, disagrees. He highlights that while ZK-proofs were historically expensive, advancements have made them more cost-efficient than traditional ID systems.
Fan notes that hardware improvements and efficient proof generation have slashed costs and reduced finality time to around 10 seconds. This makes ZK a viable, privacy-preserving method for decentralized identification.
Countries are taking notice. Buenos Aires recently integrated ZK-powered QuarkID into its digital ID system, enhancing data autonomy for 3.6 million residents. In August, Worldcoin introduced its iris-scanning World ID orbs in Vienna, and Malaysia followed suit, incorporating these orbs into its official ID system.
ZK-proofs are proving to be a game-changer, offering a blend of privacy and efficiency that traditional systems struggle to match.
BINANCE FOUNDER CZ's RETURN TO THE CRYPTO SCENE
Changpeng Zhao, also
known as CZ, the founder of Binance, has made a comeback to the crypto scene after being released from prison. He was welcomed with open arms and applause at the Binance Blockchain Week in Dubai, where he announced a new educational initiative called Giggle Academy .
This project aims to improve access to education for disadvantaged individuals, focusing on adult illiterates and children without access to traditional schooling.
CZ's return has sparked excitement in the crypto community, with many expressing support and humor on social media. His first tweet after release simply said "gm" (good morning), followed by a grateful message about appreciating simple pleasures like food .
He's also mentioned working on a book, now two-thirds complete, which may share lessons from his experiences in the crypto world.
Under Richard Teng's leadership, Binance is continuing its global expansion, despite regulatory challenges. Teng emphasized the platform's commitment to safe and accessible cryptocurrency trading, maintaining momentum toward innovation and mainstream adoption .
š Breaking News in the DeFi & Web 3 World! š
Tornado Cash developer Roman Storm's trial has been delayed to April! šŖļøā³ Originally set for December, the delay gives both sides time to sort out expert witness disclosures. Judge Failla's order to swap info had Storm's legal team, led by Brian Klein, pushing back hard. They argue it could hurt Storm's defense and might even break federal rules! š§
Klein's team has filed a mandamus petition to overturn the order. A hearing is set for Nov. 12. Storm faces serious charges, but hey, April showers bring May flowers, right? šø
What do you think? Drop your thoughts below! š¬š
$BICO /USDT is gaining momentum with a solid 10.93% surge, trading at 0.2477 USDT..
The 24-hour range highlights a strong push from a low of 0.2103 to a high of 0.2530, showing that bulls are actively driving the price upward. With 72.40M BICO in trading volume, thereās evident market interest, signaling a potential continuation of this bullish trend. Traders should monitor the 0.2530 resistance level closely; a breakout here could spark further gains, attracting more buyers. However, if BICO faces resistance and pulls back, this might create an ideal entry for those looking to capitalize on the next wave. Stay alert for high-profit moves..
#USNFPCooldown #CryptoAMA #16thBTCWhitePaperAnniv #USJobOpeningsDip #CryptoPreUSElection
ETH may retest $2,707 as investors buy again
Ethereum on-chain measurements show address accumulation again.
Between September and October, Ethereum gained 3.64 million holders, 40% more than July and August.
If Ethereum rebounds from $2,490, it might challenge $2,707 barrier.
Friday saw Ethereum (ETH) drop over 1%. With investor accumulation across on-chain indicators, a crucial technical support level supports a rebound off $2,490.
Ethereum investors are accumulating again
Coinglass statistics showed $13 million in net inflows for Ethereum ETFs on Thursday despite a market downturn. The net inflows continued for three days, showing institutional investors are steadily investing in ETH.
ETH's Mean Coin Age shows a similar trend among on-chain holders. Mean Coin Age indicates the average number of days all ETH tokens were in their addresses. A constant upward trend implies accumulation, whereas a falling slope suggests ETH movement between addresses.
Santiment data shows ETH's Mean Coin Age rising from August 23 until a minor fall on October 25. However, the upswing has restarted, suggesting addresses are acquiring the top altcoin again.
Santiment and EmberCN's whale activity statistics match.
In three days, a prominent whale collected 19,772 ETH worth $49.62 million, according to EmberCN. Since September 17, the whale has taken 54,272 ETH worth $137 million from Bybit and Binance.
Ethereum's total holdings rose 3.64 million to 130.52 million during September and October, 40% more than in July and August. This indicates ETH investors' rising interest.
Ethereum is down 1.5% to $2,510 on Friday. The preceding 24 hours saw $45 million in liquidations, $34.24 million long and $10.98 million short.
The top cryptocurrency may rebound from $2,490 and retest $2,707. ETH will try to recapture $2,817, a critical support level from April to July, if it breaks this barrier.
Reclaiming $2,817 and maintaining a prolonged rise over the 50-day and 200-day SMA might help ETH reach $3,000 psychologically.
#Ethereum #ETH $ETH
{spot}(ETHUSDT)
$RARE /USDT is on fire with a massive 21.69% surge, currently trading at 0.1212 USDT! The 24-hour range shows explosive movement from a low of 0.0964 to a high of 0.1249 USDT, indicating strong bullish momentum. Volume is surging, with 189.17M RARE tokens traded, suggesting active market participation and potential for further upward moves.
Traders should keep a close eye on the 0.1249 resistance level; a breakout above this could pave the way for a powerful rally. However, if this level holds as resistance, be ready for a pullback, creating a perfect opportunity to enter on a dip. Time to act smartly for a profitable trade..
#RAREPEPE #29thBNBBurn #CryptoAMA #16thBTCWhitePaperAnniv #GrayscaleXRPTrust
$GOAT $MOODENG WHAT SHOULD YOU CONSIDER
GOATUSDT has shown a strong upward movement, with an impressive 24-hour high near the resistance area at 0.5930. If bullish momentum continues, breaking above this level could push GOATUSDT toward the next potential target in the 0.60ā0.62 range, signaling strong buyer interest. However, if thereās a pullback, initial support lies near the 24-hour low of 0.51, which could provide stability. A drop below this could open the door to further consolidation around 0.50, a psychological level that often acts as a foundation for renewed interest.
MOODENGUSDT has seen a recent decline, with a 24-hour low around 0.19382, which aligns with the first significant support level. If the downtrend persists, this level may be tested again, with a potential drop towards 0.19, where buyers might look to re-enter. On the upside, any recovery could face resistance near the 24-hour high of 0.22487. A breakout above this would suggest stronger buying power, possibly leading to a rally toward 0.23 or higher.
#CryptoAMA #16thBTCWhitePaperAnniv #USADPSurges
{future}(GOATUSDT)
{future}(MOODENGUSDT)
š Crypto Rally Fizzles Out! š
- Bitcoin hit a high of $71,400 before pulling back to $69,000, down 1.3% in the past 24 hours.
- Ether and Solana also saw declines, while Cardano and Litecoin posted modest gains.
- U.S. employment data showed a slowdown with just 12,000 jobs added in October, the weakest since late 2020.
- Despite weak data, the 10-year U.S. Treasury yield rose to 4.38%, its highest in four months.
- U.S. stocks closed stronger, with Nasdaq up 0.7% and S&P 500 up 0.4%, led by Amazon's 6.1% surge.
- Bitcoin remains up nearly 15% over the past 30 days, with renewed interest in U.S.-based spot bitcoin ETFs.
What are your thoughts on the recent crypto market movements? Share in the comments! š¬
š Crypto rollercoaster! After a strong rally, Bitcoin hit $71,400 before pulling back to $69,000, down 1.3% in 24 hours. Ether and Solana also saw minor dips, while Cardano and Litecoin posted modest gains. š
Despite the dip, it's been a bullish month with Bitcoin up nearly 15%! CoinDesk's James Van Straten highlights the growing interest in U.S.-based spot Bitcoin ETFs, which could signal more price action ahead. š
What are your thoughts on the current market trends? Share your insights below! #Crypto #Bitcoin #Ethereum #MarketAnalysis
š Crypto rollercoaster alert! š¢
Bitcoin hit $71,400 but quickly slid back to $69,000, down 1.3% in 24 hours. Ether dipped 0.3% and Solana took a 2% plunge. But hey, Cardano and Litecoin are still flexing with modest gains! šŖ
Despite a weak U.S. jobs report and a dip in the Manufacturing PMI, the bond market is feeling frisky with the 10-year Treasury yield at a 4-month high. š
U.S. stocks are holding strong, with Amazon leading the charge after stellar earnings. š
Crypto may have stumbled today, but it's been a strong month! Bitcoin is still up nearly 15% over the past 30 days. š
What are your thoughts on the market? Drop a comment below! š
TRUMP VOWS TO END HARRIS WAR ON CRYPTO AS HE CELEBRATES BITCOIN WHITES PAPERS 16TH B-DAY
Donald Trump has made a dramatic shift in his stance on cryptocurrency, emerging as a vocal supporter of the industry. This change of heart is a far cry from his 2021 statement labeling Bitcoin a "scam" Ā¹. Now, as he celebrates the 16th anniversary of the Bitcoin white paper, Trump vows to end what he calls Kamala Harris' "war on crypto."
Trump's Crypto Agenda:
Support for Bitcoin Mining: Trump has expressed strong support for bitcoin mining, comparing it to domestic manufacturing, and has received donations from miners .
Banking Regulations: He pledges to end initiatives like Operation Chokepoint 2.0, removing barriers for crypto businesses accessing banking services .
Opposition to Central Bank Digital Currencies (CBDCs)_: Trump opposes the development of a U.S. CBDC, aligning with the crypto community's preference for decentralized digital currencies .
Self-Custody Rights: Trump supports individuals' rights to self-custody their digital assets, emphasizing personal control without reliance on third parties .
In contrast, Kamala Harris has taken a more regulatory approach, touting a crypto framework but providing scarce details .
While Harris' stance may be seen as vague, some view it as an improvement over the current administration's less accommodating stance on crypto.
š Get ready, crypto enthusiasts! The Blockchain Africa Conference 2024 is coming to Pretoria on November 20th! š This 10th edition, organized by Bitcoin Events, promises to be a blockbuster, uniting blockchain developers, influencers, investors, and entrepreneurs from around the globe.
Keynote speakers like Charles Hoskinson, founder of Cardano, and Ernest Mbenkum of Interstellar Inc. will share groundbreaking insights into Africa's blockchain future. Expect engaging panel sessions on crypto exchanges, regulatory landscapes, and the power of Bitcoin mining in Africa.
Join the conversation and share your thoughts in the comments below! š¬ Let's dive into Africa's dynamic blockchain ecosystem together!