Trump reaffirms his pro-crypto position and asks Elon Musk for a government mission!
“Instead of attacking the industries of the future, we’re going to embrace them,” Donald Trump said of the crypto industry in America.
US presidential candidate and former President Donald Trump has reiterated his support for the crypto industry and proposed that tech billionaire Elon Musk lead a new government task force.
In a speech at the Economic Club of New York on September 5, Trump reaffirmed his support for the digital asset industry.
Pavel Durov breaks silence for the first time since his arrest!
The Telegram founder is currently banned from leaving France and must report to law enforcement every week.
Telegram founder Pavel Durov has finally broken his silence since his high-profile arrest in France in August.
In a message posted on his public Telegram channel, the tech entrepreneur expressed his surprise at his arrest by French authorities. He clarified that Telegram has an official representative in the European Union who handles all regulatory requests and law enforcement investigations.
Lobbying spending for the crypto industry in the United States has exploded by 1,386% since 2017, with a major increase in the last two years.
Crypto lobbying has seen a meteoric rise in recent years, with a few key firms leading efforts to influence lawmakers in the United States.
Coinbase, for example, has increased its lobbying spending by 3,475% over the past seven years, according to a September 5 report from Social Capital Markets. The crypto exchange’s spending has increased from $80,000 in 2017 to $2.86 million in 2023.
Popular messaging app Telegram, whose CEO Pavel Durov was arrested on August 24, reportedly held $400 million in digital assets at the end of 2023, according to the company's 2023 financial report. By the end of 2023, the app had around four million premium users, a figure that has since grown to over five million. Telegram reported an operating loss of $108 million in 2023 despite revenue of $342.5 million. According to a report by the Financial Times, about 40% of Telegram’s revenue came from digital asset-related businesses, under the categories of “in-app wallet” and “collectibles sales.”
Ripple Announces Addition of Smart Contracts to XRP Ledger
This move aims to attract developers and expand the capabilities of the XRP Ledger, bringing new use cases to its ecosystem. Cross-border payments company Ripple has announced that it will add smart contracts to the XRP Ledger (XRPL) development ecosystem. Ripple said the move would open up a variety of use cases for users, developers, and entrepreneurs. It aims to attract developers to utilize the XRPL’s expanded capabilities. According to Ripple, the smart contracts functionality is expected to go live “in the coming months” on XRPL’s Ethereum Virtual Machine (EVM) sidechain.
In the world of cryptocurrencies, many investors are looking for ways to maximize their profits. Here's how to do it. 1. Long Term Hodling Hodling is the practice of buying a cryptocurrency and holding it for the long term, hoping that its value will increase significantly. This strategy relies on rigorous fundamental analysis and the belief that the currency in question will see increased adoption, leading to an increase in its value. Investors who have followed this method with cryptocurrencies like Bitcoin or Ethereum have made substantial profits over the years.
Cryptocurrency arbitrage is a popular trading strategy that allows traders to take advantage of price differences of the same cryptocurrency on different exchanges. This type of trading is particularly appealing because it can generate profits without requiring predictions about future market fluctuations. Here is a comprehensive guide to help you understand and succeed in crypto arbitrage. 1. What is Cryptocurrency Arbitrage?
The ultimate techniques for trading your cryptos 📈📊📉
Cryptocurrency trading has become one of the fastest and potentially most lucrative ways to generate profits in the financial markets. But, with extreme volatility and a constantly changing market, having a solid strategy is crucial. Today, we reveal the ultimate trading techniques to multiply your capital while controlling risks. 1. Scalping: Quick and Repeated Gains Scalping is a trading technique that involves taking advantage of small price fluctuations over short periods of time. Scalpers make dozens or even hundreds of trades per day, seeking to accumulate small profits that add up to a significant gain. This method requires constant attention, iron discipline, and sophisticated trading tools to execute trades quickly. Scalping is perfect for those who enjoy the adrenaline rush and have the time to monitor the markets continuously.
How to Spot a Crypto Nugget: A Guide for Investors The world of cryptocurrencies is vast and ever-changing. For investors, finding a “crypto gem”—a cryptocurrency with explosive growth potential—is an enticing goal. However, spotting a crypto gem requires a combination of thorough research, market understanding, and vigilance. Here are some key steps to help you identify a promising cryptocurrency.
Crypto bull runs, periods when prices explode upwards, are unique opportunities for investors to make considerable gains. However, without a well-thought-out strategy and the right attitude, these gains can quickly turn into losses. Here are some tips to help you adopt the right attitude during a bull run. 1. Stay informed, but avoid overconfidence During a bull run, enthusiasm is often contagious. It is essential to stay informed about market trends, new regulations and the movements of the big players. However, it is important to avoid falling into overconfidence. A prolonged rise can give the illusion that prices will only go up, which can encourage reckless risk-taking. Remember that bull runs always run out of steam eventually.
Changpeng Zhao, the former CEO of Binance, sentenced to 4 months in prison.
The Founder of Binance ultimately received a 4-month prison sentence and a fine of $50 million. Justice has finally ruled on the fate of Changpeng Zhao (CZ), founder of Binance, in the context of the case opposing him to the US Department of Justice. The latter imposed a sentence of 4 months in prison on the former CEO of Binance, eight times less than what American prosecutors requested. After many months of waiting, Changpeng Zhao is now determined on his fate. The founder of Binance received a 4-month prison sentence after pleading guilty to violating the bank secrecy law. The penalty is significantly less than the 36 months in prison required by the US Department of Justice. It is motivated by the fact that, according to the judge, the links of the former manager with the illicit activities of Binance have not been proven.
MicroStrategy increased its bitcoin holdings once again in April!
Michael Saylor's company gained greater exposure to bitcoin during the month of April with an investment of $7.8 million.
MicroStrategy is notoriously known for being a bitcoin whale thanks to its massive acquisitions in the field. Obviously, the company wants to maintain this status.
Data shows that the Michael Saylor-founded company once again acquired a substantial amount of bitcoin throughout April.
In fact, according to the latest news, the company has offered itself some 122 bitcoins valued at $7.8 million.
As a reminder, since the end of the fourth quarter of 2023, the company has accumulated 25,250 BTC, bringing its reserve to 214,400 BTC. The latter is currently valued at approximately $13.22 billion.
A lone miner earns 3,125 bitcoins by solving a valid block. The lone miner received around $200,000 in reward for validating block 841,286. 000 dollars.
The most recent solo mined block was on April 5 - a few weeks before the halving - when a solo miner solved block 837,814 with a hashrate of 7 PH/s, earning a reward of around 422 750 $ at the time.
The network's average hashrate is currently 618 EH/s, having reached an all-time high of 728 EH/s on April 23. It has increased by over 90% in the last 12 months, making the latest single-player mining exploit even more exceptional.
Sam Bankman-Fried could regain his freedom by collaborating with FTX investors.
FTX investors suggest that Sam Bankman-Fried denounce the other promoters of the exchange to be freed from any civil liability.
FTX was valued at more than $32 billion before collapsing in 2022. With its fall, the crypto company caused a loss of more than $8.7 billion in cryptocurrencies owned by individuals and businesses. FTX investors quickly joined forces to be compensated, filing a complaint against the exchange's executives. They are now inviting Sam Bankman-Fried, the founder of FTX convicted in this affair, to work with them to denounce the other promoters of the exchange.
Former CEO could provide information on the promoters of his crypto exchange A few weeks ago, Sam Bankman-Fried was sentenced to 25 years in prison for the fraud that led to the collapse of FTX. Now the former CEO of the fallen crypto exchange is being offered a chance to get out of trouble. Indeed, Bloomberg reported that FTX investors are willing to drop charges against him in exchange for his cooperation. Mr. Bankman-Fried will then be required to provide information incriminating the other defendants in this case.
The latter mainly bring together financiers, celebrities, influencers and athletes like Tom Brady and Shaquille O’Neal. They are accused of promoting unregistered securities of the crypto exchange FTX. As part of the new agreement, Sam Bankman-Fried will provide documents against them. The former CEO will also have to make information on entities linked to the exchange available to the plaintiffs' lawyers. These include venture capital firms that have invested in the crypto business.
Visa reveals that USDC outperforms USDT for stablecoin transactions.
Visa's stablecoin metric reveals that Circle's USD Coin (USDC) surpassed Tether (USDT) in trading volume last week.
Competition between stablecoins Tether (USDT) and USD Coin (USDC) is still fierce. Certainly, USDT retains its place as the largest stablecoin in the world in terms of market capitalization. However, Circle's crypto asset has just managed to surpass it in terms of trading volume.
Weekly trading volume of $455.51 billion for USDC
As Tether restructures to expand its business beyond stablecoins, its crypto is losing ground to Circle's. Indeed, USDT saw just $88.52 billion in trading volume last week, compared to USDC’s $455.51 billion. This data comes from payments giant Visa’s stablecoin metric, developed in collaboration with Allium Labs. They indicate that Circle USDC is currently the stablecoin market leader in terms of trading volume.
This increase in transactions recorded by Circle’s crypto comes after a difficult period. Indeed, the American banking crisis of last year disrupted the USDC market. As a reminder, Circle had revealed a $3.3 billion exposure to Silicon Valley Bank. This exposure led to a considerable drop in the circulation of the stablecoin. This had fallen from $56 billion to $23 billion in December 2023, before rebounding to $32.8 billion.