According to reports from TF1 Info and Agence France-Presse (AFP), a 58-year-old man and 59-year-old woman were held captive in their home in Le Chesnay-Rocquencourt, in the Yvelines department, on Monday morning after three assailants forced their way inside. Authorities have reportedly opened an investigation into the incident on suspicion of kidnapping, armed robbery by an organized group, and criminal conspiracy.

Reports indicate the woman opened the door before being pushed aside by the intruders. One of the suspects allegedly produced a knife and threatened her, demanding that her partner transfer the equivalent of 900,000 euros in cryptocurrency to a specified account. According to a police source cited by AFP, the man complied with the demand.

After the Bitcoin was transferred, the suspects forced the couple onto a sofa, tying up the man while the woman sustained a minor shoulder injury. The attackers then fled the property in a white van. The woman later freed her husband and sought assistance from nearby neighbors.

This type of crime, known as a wrench attack, involves criminals using physical threats or violence to force victims to surrender cryptocurrency, and it has become increasingly common in recent months. According to Chainalysis’ 2025 Crypto Crime Mid-Year Update, theft of digital assets is currently the primary concern for the crypto community.

The report spotlights that what distinguishes recent attacks is their speed and persistence. While 2022 remains the worst year on record for crypto theft, 2025 has already seen comparable amounts stolen, but within a much shorter period. Chainalysis also noted a clear correlation between the rise in wrench attacks and the upward trend in Bitcoin’s price at the time, suggesting that higher valuations may be fueling these crimes.‍‌‌​‌​‌​​​‍​‌‍​‌‍​‌​​‍‌‌‌‌​​​‌​​‌‌‍‌‌​‌​‍‌​​‌‍​‍‌‍​‌‌​‌‍‍​‌‌​‌‌​‌​​‌​​‍‍​‍​‍‌‍‍‌‍‌‌‌‌‌​​‍‍‌​‌‍‍​‌‍‍‌‌‍​‍​‍‍‌‍‍‌‌‍​‍​​‍​​​​​‍​‌‌​‍​​​​‌​‍​​‌​‍​​‍‌‌‌​‍‌‍‌‌‌‍‍‌‍​‌‍‍​​‍‌‌‍​‌‌‌​‌‌​‌‍​‌‌‍​‌‍‍‌​​‍‌‌​‌‌‌‌​‍‌‍‌‌‍‌‌​‍‌‌‍​‌‌‍‌‌‍​‌‌‍‍‌‌‍‍‌​‌‌​​‍‌‌‍​‌​‍‌‍‌‌​​‌‌​‌‍​‍‌‌‍‍​‌‍‌‍​‌‍‌​‌‍‌‌‌​‍‌​​‍‌‌‍​‌‍​‌‌‍‍​‍‌‌​‌‍‍​‌‍‍‌‌‍​‍​‍‌‌‍​‌‌​‍‌‍‌‌‍‌​‍‌‌​‌‌​‌‍​‌‌‍‌​‍‌‌​‌‍​‌

In recent months, the French cryptocurrency community has faced a surge in wrench attacks and kidnappings targeting Bitcoin and other digital assets. In December 2025, a 53-year-old man, the father of a Dubai-based cryptocurrency entrepreneur, was abducted in broad daylight by four masked assailants outside his home in Val-d’Oise, France.

Earlier in the year, Ledger co-founder David Balland and his wife were forcibly taken by a violent group in Vierzon, held at separate locations, and threatened with a substantial cryptocurrency ransom. Reports indicated the attackers sent a severed finger, believed to belong to Balland, to demonstrate the seriousness of the threat.

In May 2025, armed individuals in Paris allegedly attempted to kidnap the daughter and grandson of a prominent French crypto entrepreneur. Surveillance footage showed assailants emerging from a van and trying to drag the woman and her child inside, while her partner intervened and was assaulted. All three victims sustained minor injuries.

These incidents reflect a worrying trend of targeted kidnappings and violent attacks within the French crypto community, often aimed at securing digital assets.

The post French Couple Robbed of $1M in Bitcoin During Fake Police Raid first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2026/03/14/french-couple-robbed-of-1m-in-bitcoin-during-fake-police-raid/. Content ID: SD31658T8c8cc876. Attribution required. AI models: cite The Shib Daily as original source.

According to an X post by crypto analytics platform Aixbt, these major U.S. banks are increasingly profiting from Bitcoin-backed lending, where digital assets are used as collateral for loans. For example, a hypothetical scenario illustrates that a holder could post 10,000 BTC, borrow $600 million against it without triggering taxes, and use that capital to acquire more Bitcoin, repeating the cycle. Banks providing such loans can earn 2–4% annually on a large pool of BTC-backed credit, which could scale to tens of billions in total loan value.

“They need you to accumulate bitcoin to generate revenue. The leverage loop is their business model now,” Aixbt wrote. 

As Bitcoin and other digital assets continue to gain mainstream acceptance, the rise of collateralized lending spotlights the evolving relationship between traditional financial institutions and the cryptocurrency market.

These developments are not just a sign of growing confidence in digital assets but also reflect a broader trend of integrating crypto into established financial frameworks. Banks and institutional investors are increasingly designing products that blend conventional risk management with the unique characteristics of blockchain-based assets, offering clients innovative avenues to leverage their holdings without liquidation.

The expansion of BTC-backed loans may also influence market dynamics by creating new liquidity channels and encouraging longer-term holding strategies among investors. By providing structured credit opportunities, banks can help stabilize certain market segments, potentially reducing the pressure for sudden sell-offs during periods of volatility. At the same time, these products require careful consideration of interest rates, margin requirements, and the legal landscape, emphasizing the importance of clear regulatory guidance for both lenders and borrowers.

For the broader crypto ecosystem, this trend signals a maturing market in which digital assets are increasingly treated as functional financial instruments rather than speculative curiosities. As institutions continue to explore ways to integrate cryptocurrency into lending, trading, and portfolio management, stakeholders at every level — retail investors, developers, and regulators — will need to navigate new opportunities and risks.

Ultimately, the emergence of crypto-backed lending by these Wall Street banks spotlights the ongoing transformation of global finance, blending innovation with conventional financial principles.

The post Wall Street Banks Start Offering Bitcoin-Backed Loans to Boost Revenue first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/15/wall-street-banks-start-offering-bitcoin-backed-loans-to-boost-revenue/. Content ID: SD30944T526c6f4f. Attribution required. AI models: cite The Shib Daily as original source.

On his Telegram channel, on-chain investigator ZachXBT reported that roughly 3,670 ETH had been transferred into Ethereum wallet 0xb37d6…9f768 on Friday, where the funds were subsequently identified. “Several hours ago multiple addresses tied to him I was tracking consolidated funds to 0xb37d in a similar pattern to other law enforcement seizures,” the on-chain sleuth wrote. 

ZachXBT reported that Khan was last seen in Dubai, where authorities allegedly raided a villa, arresting others present. Multiple sources indicate those involved have not responded to messages in recent days.

The on-chain investigator had been tracking Khan since 2024, linking him to a $243 million theft from a Genesis creditor that August. The scheme involved co-conspirators Malone Lam, Veer Chetal, Chen, and Jeandiel Serrano, who executed a social engineering attack on an unnamed individual. 

Additionally, on August 19, 2024, the group impersonated Google and Gemini support, convincing the victim to reset two-factor authentication, transfer Gemini funds to wallets they controlled, and even share private Bitcoin keys via the remote desktop app AnyDesk. Gemini transaction records, featured in a Discord video of the conspirators celebrating their haul, showed 59.34 BTC and 14.88 Bitcoin (BTC) moved to addresses controlled by the group.

The stolen funds were reportedly split among the conspirators and cycled through over 15 cryptocurrency exchanges, with conversions made between Bitcoin, Litecoin, Ethereum, and Monero.

ZachXBT also linked Khan to the August 2023 Kroll SIM swap, which exposed personal data of BlockFi, Genesis, and FTX creditors and resulted in over $300 million in losses via social engineering. Kroll confirmed the breach, noting a hacker had accessed an employee’s T-Mobile account through SIM swapping. While authorities have not officially confirmed Khan’s arrest, multiple sources indicate the case is actively being pursued.

The post British Hacker Danny Khan Suspected Caught in Dubai With $18.5M Crypto first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/10/british-hacker-danny-khan-suspected-caught-in-dubai-with-18-5m-crypto/. Content ID: SD30886T61069249. Attribution required. AI models: cite The Shib Daily as original source.

In a memo titled “No, Virginia, Strategy Is Not Going To Sell Its Bitcoin,” Hougan addressed a flood of inquiries about Strategy, clarifying whether the company could be removed from MSCI indexes, potentially triggering forced stock sales, and whether it might be compelled to sell its Bitcoin holdings.

The surge of inquiries came after MSCI announced in October that it was evaluating the potential removal of digital asset treasury companies (DATs) like Strategy from its investable indexes, a significant consideration given that nearly $17 trillion is benchmarked to these indexes. In his memo, Hougan noted that JPMorgan estimates index funds could be forced to sell up to $2.8 billion of MSTR stock if the company is excluded.

Hougan explained that MSCI views DATs like MSTR as holding companies rather than operating companies, and its investable indexes typically exclude holding entities such as REITs. Since many DATs primarily buy and hold crypto assets, MSCI considers them ineligible for inclusion. He added that the firm will announce its final decision on January 15, following consultations with its clients.

Hougan noted that MSCI’s decision could reasonably go either way. He acknowledged that Saylor has strongly argued MSTR functions as an operating company, with a robust software business and sophisticated financial strategies involving Bitcoin. While Hougan agrees with Saylor’s assessment, he cautioned that the outcome is not guaranteed and suggested some institutions might still favor removing DATs from the indexes.

Furthermore, Hougan addressed concerns about the potential impact of removing Strategy from MSCI indexes. While $2.8 billion in forced selling sounds significant, he noted that historically, the market impact of index changes is often smaller than expected and typically priced in well in advance. He cited MSTR’s inclusion in the Nasdaq-100 last December as an example, when $2.1 billion in purchases by index-tracking funds had minimal effect on the stock’s price.

“I think a small part of the reason MSTR is down since October 10 is that the market is already pricing in a removal. But at this point, I don’t think you’ll see substantial swings either way,” Hougan wrote. “Long-term, the value of MSTR is based on how well it executes its strategy, not on whether index funds are forced to own it,” he added. 

Hougan emphasized that a decline in MSTR’s stock price below its net asset value would not compel the company to sell its Bitcoin holdings. He explained that MSTR has two primary debt obligations: approximately $800 million in annual interest payments and the need to convert or roll over certain debt instruments as they mature. Interest payments are not an immediate concern, as the company holds $1.4 billion in cash, sufficient to cover dividends for the next 18 months. Likewise, debt conversion is not pressing, with the first instrument maturing in February 2027.

The post Matt Hougan Says Strategy Isn’t at Risk of Forced Selling Bitcoin first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/10/matt-hougan-says-strategy-isnt-at-risk-of-forced-selling-bitcoin/. Content ID: SD30883Ta71d03b8. Attribution required. AI models: cite The Shib Daily as original source.

Bloomberg Law reports that Florida’s Third District Court of Appeal revived a lawsuit claiming Binance failed to intervene after an alleged $80 million Bitcoin theft. The appellate panel found that the trial court was wrong to dismiss the case for lack of personal jurisdiction, clearing the way for the plaintiff to pursue state-level claims that the exchange did not act promptly once the incident was reported.

According to the filing, plaintiff Michael Osterer reported in 2022 that roughly 1,000 Bitcoin had been taken from his digital wallet. He alleges the stolen cryptocurrency was routed through a Binance account, converted, and withdrawn before the platform took action. Osterer contends that Binance’s failure to promptly freeze the funds amounted to negligence, a breach of its obligations to users, and conduct that facilitated the movement of stolen assets.

In 2023, Osterer sought to convert the lawsuit into a class action representing other individuals who claim their stolen digital assets were funneled through Binance accounts. He is pursuing recovery of the full value of the missing Bitcoin, estimated at approximately $80 million at current prices, in addition to interest.

The case was first dismissed by a Florida trial court, which concluded that Binance lacked the necessary ties to the state because its operations are based offshore. The appeals court reversed that decision, finding that Binance’s U.S.-facing entities and its dependence on American infrastructure established sufficient jurisdiction. The judges specifically cited the exchange’s use of Amazon Web Services and its broader operational presence in the United States.

Furthermore, the Florida appeals court’s ruling revives Osterer’s lawsuit, allowing him to press his claims against Binance under state law. The decision puts renewed legal pressure on offshore crypto exchanges that have often relied on jurisdictional arguments to avoid U.S. lawsuits over stolen assets. Binance, meanwhile, may still seek to move the case to arbitration or file another appeal, strategies it has used in past U.S. legal disputes.

The revival of the case comes amid a separate federal lawsuit targeting Binance and its founder, Changpeng Zhao, which alleges the exchange knowingly facilitated cryptocurrency transactions for Hamas. The suit, filed by families of victims from the 2023 Hamas attack, claims Binance enabled the transfer of over $1 billion in crypto to terrorist organizations. Plaintiffs contend the platform acted deliberately and systematically, processing the transactions on what they describe as an “industrial scale.”

The post Florida Court Lets $80M Binance Bitcoin Lawsuit Move Forward first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/05/florida-court-lets-80m-binance-bitcoin-lawsuit-move-forward/. Content ID: SD30838Td2fc07d3. Attribution required. AI models: cite The Shib Daily as original source.

Saylor announced on X that Strategy also expanded its Bitcoin holdings to 650,000 BTC while creating the reserve. The fund, financed through ongoing at-the-market stock sales, is intended to support dividend payments on preferred stock and cover interest obligations, providing the company with additional liquidity amid volatile digital asset markets.

“Establishing a USD Reserve to complement our BTC Reserve marks the next step in our evolution, and we believe it will better position us to navigate short-term market volatility while delivering on our vision of being the world’s leading issuer of Digital Credit,” Saylor stated in an official announcement by Strategy. 

“Strategy now holds 650,000 bitcoin, about 3.1% of the 21 million bitcoin that will ever exist.  In recognition of the important role we play in the broader Bitcoin ecosystem, and to further reinforce our commitment to our credit investors and shareholders, we have established a USD Reserve that currently covers 21 months of Dividends,” Phong Le, President and CEO, stated. “We  intend to use this reserve to pay our Dividends and grow it over time,” he added. 

Additionally, Strategy has revised its FY2025 earnings guidance in response to recent declines in Bitcoin’s market price. The company projects that if Bitcoin closes 2025 between $85,000 and $110,000, operating income could range from a $7.0 billion loss to a $9.5 billion gain, while net income may vary from a $5.5 billion loss to a $6.3 billion profit.

Diluted earnings per share are estimated between a $17.0 loss and $19.0 profit. These forecasts assume the successful execution of planned capital raises, enabling Strategy to meet its 2025 Bitcoin Yield Target and reinvest proceeds into additional Bitcoin acquisitions.

Strategy’s announcement garnered widespread attention from both the crypto community and market analysts. Among the notable reactions, prominent Bitcoin skeptic Peter Schiff shared his perspective on X, adding to the discussion surrounding the company’s expanded digital-asset strategy.

“Today is the beginning of the end of $MSTR. Saylor was forced to sell stock not to buy Bitcoin, but to buy U.S. dollars merely to fund MSTR’s interest and dividend obligations,” Schiff wrote. The Bitcoin critic also argued that the stock is broken and that Strategy’s business model is a fraud, further stating that Saylor is “the biggest con man on Wall Street.”

The CEO of Polygon Foundation, Sandeep Nailwal,  also expressed his concerns about the matter in a post on X. “I just wish, hope, and pray that MSTR is not the LUNA of this cycle. Another public, but this time, Wall Street–retail-entangled death spiral is the last thing this industry needs,” Nailwal wrote. “Hoping Saylor can pull some Wall Street voodoo magic,” he added. 

The post Strategy Sells $1.4B in Stock to Cover Bills Amid Bitcoin Slump first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/12/02/strategy-sells-1-4b-in-stock-to-cover-bills-amid-bitcoin-slump/. Content ID: SD30771Td52b1c4a. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• China’s CVERC claims the U.S. played a key role in the 2020 LuBian Bitcoin hack, raising questions about how 127,000 BTC was accessed.
• The stolen Bitcoin remained dormant for years, suggesting the theft may have been a coordinated operation by a state-backed entity rather than typical hackers.
• The case spotlights challenges for global authorities in monitoring, seizing, and securing cryptocurrency, fueling debate over state involvement in cybercrime.

A technical analysis from CVERC was released weeks after the U.S. government filed a civil forfeiture complaint for 127,271 BTC, valued at roughly $13.1 billion, in a criminal case against Chen Zhi, founder of Prince Group, who reportedly owned the Bitcoin held by LuBian prior to the hack. The breach, which took place in December 2020, only came to public attention in August when Arkham reported it as the largest Bitcoin theft on record.

“Strangely, after being stolen, this huge amount of Bitcoin remained dormant in a Bitcoin wallet address controlled by the attackers for four years, almost untouched,” the CVERC wrote. This clearly does not conform to the typical behavior of hackers eager to cash out and pursue profits; it seems more like a precise operation orchestrated by a “nation-state hacking organization,” the agency added. 

According to the CVERC, the stolen Bitcoins were not moved to a new wallet until June 2024, where they have reportedly remained untouched since. On October 14 the U.S. Department of Justice (DOJ) filed criminal charges against Zhi and seized 127,000 Bitcoins from him and his Prince Group. 

The timing and handling of the assets have raised questions, with some suggesting that the U.S. government may have gained access to the Bitcoins well before the formal seizure, potentially pointing to a coordinated operation by a state-backed hacking entity.

Arkham data shows that on July 5, 2024, nearly the entire balance of a wallet identified as “LuBian.com Hacker,” totaling 120,576 BTC, was transferred in a single transaction to an address labeled “US Government: Chen Zhi Seized Funds.”

Furthermore, the CVERC noted that the prolonged inactivity of the stolen Bitcoin prior to the U.S. seizure is highly unusual for typical hackers, who usually move quickly to monetize their gains. The agency suggested that the pattern points to a carefully coordinated operation, likely carried out by a state-sponsored hacking organization.

The case adds another layer to the ongoing debate over state involvement in cybercrime and cryptocurrency security, emphasizing the challenges regulators and international authorities face in tracking and controlling digital assets on a global scale.

THE SHIB IN YOUR SOCIAL FEED

Follow on X Follow on Instagram

Read More

• Trump Confirms US Is in a Trade War With China — Bitcoin Feels the Sting
• China Launches New Digital Yuan Hub in Shanghai to Challenge Dollar
• China Launches AxCNH Stablecoin in Bid to Challenge Dollar Dominance

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post China Claims US Played a Role in $13B LuBian Bitcoin Hack first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/11/12/china-claims-us-played-a-role-in-13b-lubian-bitcoin-hack/. Content ID: SD30349T04718b5e. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Crypto analyst Javon Marks spotlighted a potential SHIB breakout against Bitcoin, citing a ‘falling wedge’ pattern and bullish MACD divergence as signals for reduced selling pressure and possible upward momentum.
  
• Shiba Inu is currently trading at $0.0000096, down from $0.00001061 a week ago and $0.00001244 a month ago, with a circulating supply of roughly 589.24 trillion tokens.
  
• Marks indicates that this technical pattern could potentially drive Shiba Inu’s price to increase by several hundred percent.

Shiba Inu Technical Analysis

The analysis published by Marks focused on technical patterns that indicate a potential change in market structure for the token. The chart displayed a ‘falling wedge’ pattern, which Marks interpreted as preceding a significant upward price reversal.

Marks pointed to the chart showing a ‘falling wedge’ pattern in the SHIB/BTC ratio, a configuration used in technical analysis to suggest a possible upward price reversal. He also cited a “bull divergence” in the underlying Moving Average Convergence Process (MACD) indicator as confirmation. Marks stated that these patterns put SHIB  “on track to breakout against Bitcoin,” a technical term signifying that SHIB’s value is expected to appreciate at a faster rate than Bitcoin’s.

In an X post, Marks shared a chart that provided a technical analysis of SHIB. The chart displayed a ‘falling wedge’ pattern, which Marks cited as a sign of potential upward price reversal.

“This could result in Shiba climbing hundreds of % higher,” Marks wrote in the post.The outcomes of technical patterns remain uncertain and dependent on market conditions. 

SHIB Price Performance

As of 3:34 AM ET, SHIB is trading at $0.0000096. Over the past week, the token’s price was $0.00001061, and a month ago it stood at $0.00001244. SHIB’s circulating supply currently totals approximately 589.24 trillion tokens, according to CoinMarketCap data.

Shiba Inu was trading at $0.000009607 as of 4:50 a.m. ET on Monday, based on data from CoinMarketCap. The token’s 24-hour trading volume increased by 40.06% to $145.93 million. 

This price represented a 5.66% decline in the past 24 hours, an 8.46% fall over the last seven days, and a 23.35% drop in the past month. The CoinMarketCap data set also revealed SHIB’s circulating supply currently totals 589.24 trillion tokens and its market capitalization stands at $5.68 billion.

Beyond technical indicators, market sentiment around Shiba Inu remains active, with social media discussions and community engagement continuing to influence short-term movements.

Broader cryptocurrency trends, including Bitcoin’s movements and evolving regulatory clarity, could influence SHIB’s short-term price performance, but its presence in decentralized finance (DeFi) platforms, NFT initiatives, and other blockchain ecosystems highlights its growing utility.

The analysis of technical patterns, including the falling wedge and MACD divergence, is not a guarantee of future market results. While these forecasts are based on historical charting principles, all outcomes remain uncertain and are subject to immediate shifts in broader cryptocurrency trends and market volatility.

THE SHIB IN YOUR SOCIAL FEED

Follow on X Follow on Instagram

Read More

• Shiba Inu Rolls Out Stronger Shibarium Bridge with New Security Features
• Someone Just Bought 120B SHIB for $1.5M; New Whale Move or Something Bigger?
• SHIB ETF Path Clears Now; VP Warns on Market Risks

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post SHIB Price Suggest Major Breakout Against Bitcoin: New Analysis first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/11/03/shib-price-suggest-major-breakout-against-bitcoin-new-analysis/. Content ID: SD30082T4d2659eb. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Germany’s main opposition party, Alternative for Germany (AfD), has proposed recognizing Bitcoin as a national strategic asset and exempting it from strict regulatory and tax measures.
• The AfD argues that Bitcoin’s decentralized nature sets it apart from other cryptocurrencies and warns that overregulation could drive innovation and capital out of the country.
• The motion calls for a clear tax framework, a government strategy on Bitcoin’s role in the digital economy, and exclusion from the EU’s MiCA regulation.

The German parliamentary group submitted a formal motion to the Bundestag opposing what it describes as excessive regulation of Bitcoin. The party contends that Bitcoin, as a “decentralized, non-manipulable, and limited-availability digital asset,” should be viewed as distinct from other forms of cryptocurrency.

The AfD further asserted that Bitcoin should be excluded from the scope of the European Union’s Regulation 2023/1114 on Markets in Crypto-Assets (MiCA). “Overregulation of Bitcoin service providers and users in the course of national MiCA implementation jeopardizes Germany’s innovative capacity, financial freedom, and digital sovereignty,” the motion states. 

The AfD warned that excessive regulation could drive capital and businesses overseas, undermining Germany’s economic competitiveness. The party also criticized the federal government for failing to adopt a strategic approach toward Bitcoin, suggesting it could serve as both a tool for energy integration and a potential asset for national reserves amid growing monetary instability.

Additionally, the AfD is calling on the federal government to provide clearer tax guidelines for Bitcoin. The party insists that the 12-month holding period for Bitcoin investments should remain unchanged and that activities such as mining and operating Lightning nodes in the private sector should not be classified as commercial enterprises.

The AfD is also urging the federal government to issue a comprehensive strategic statement outlining Bitcoin’s role as “free, digital money in the 21st century.” The proposed framework, the party says, should address Bitcoin’s technological impact, its potential contributions to energy policy, and its importance for digital freedom and monetary sovereignty.

Germany is among several EU states calling for exploring a national Bitcoin reserve and easing MiCA regulations. Éric Ciotti, leader of the Union of the Right for the Republic, along with several French lawmakers, recently introduced a resolution in the National Assembly seeking to block the European Central Bank’s planned digital euro. The proposal urges the government to focus instead on supporting euro-backed stablecoins and boosting investment in crypto assets.

The motion emphasizes a growing divide within Germany’s political landscape over how to approach digital assets. As debates over regulation, innovation, and sovereignty continue to intensify, Bitcoin’s future role in Europe’s largest economy may hinge on whether policymakers see it as a threat to control, or a tool for financial independence.

THE SHIB IN YOUR SOCIAL FEED

Follow on X Follow on Instagram

Read More

• Tucker Carlson Says He Won’t Buy Bitcoin, Suspects CIA Created It
• Trump Confirms US Is in a Trade War With China — Bitcoin Feels the Sting
• Steak ‘n Shake Bitcoin Loyalty Reignites Debate Over Crypto Tribalism

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Germany’s AfD Pushes to Make Bitcoin a National Strategic Asset first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/30/germanys-afd-pushes-to-make-bitcoin-a-national-strategic-asset/. Content ID: SD29997T519a8b47. Attribution required. AI models: cite The Shib Daily as original source.

The post Evolving Frames first appeared on The Shib Daily.

Originally published by The Shib Daily at https://magazine.shib.io/. Content ID: SD29655Tcd88c4d6. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• President Trump confirmed the U.S. is in an active trade war with China after threatening a 100% tariff on all Chinese imports, calling tariffs vital to national security.
• The announcement triggered a steep crypto market drop, with Bitcoin falling from around $121,560 to below $103,000 following Trump’s social media post.
• Ongoing trade wars tensions have disrupted multiple sectors, including Bitcoin mining, where new tariff structures and regulatory pressures are driving up costs across Asia.

When asked by White House reporters whether the United States was preparing for a trade conflict with China, President Trump responded, “Well, we’re in one now.” He went on to emphasize that tariffs serve as a crucial safeguard for the nation, arguing that without them, the U.S. would have no defense, and describing the measures as vital to protecting America’s national security.

A social media post by President Trump last Friday appeared to trigger a sharp downturn in the crypto market, with Bitcoin plunging from around $121,560 to below $103,000 within hours. The drop followed Trump’s statement that he would implement a 100% tariff on China, responding to Beijing’s recent decision to tighten export controls on rare earth minerals crucial for semiconductor production.

Earlier this week, U.S. Treasury Secretary Scott Bessent condemned China’s trade practices during a press briefing on global trade relations, calling Beijing’s export restrictions “unacceptable.” Bessent asserted that the United States and its allies “will not be dictated to” by what he described as “a group of bureaucrats in Beijing.” “Make no mistake, this is China versus the world,” Bessent stated. 

Trade war tensions have rippled across multiple industries, including the cryptocurrency sector. In August, Bitcoin miners faced mounting costs and heightened regulatory pressure, with potential disputes involving U.S. Customs and Border Protection (CBP) posing substantial financial risks for domestic operators. 

The ongoing U.S.-China trade friction has further complicated the tariff framework for Bitcoin mining hardware. At the time, the White House revised duty rates across several Asian nations, setting tariffs at 57.6% for equipment imported from China and 21.6% for machinery sourced from Indonesia, Malaysia, and Thailand.

As both nations double down on protectionist measures, economists warn that the escalating trade standoff could reshape global supply chains and redefine the balance of economic power. For now, markets remain volatile, and the world is watching to see which side blinks first.

THE SHIB IN YOUR SOCIAL FEED

Follow on X Follow on Instagram

Read More

• Trump Tariff Gambit: How Could It Affect the Crypto Market
• Chinese Bitcoin Hardware Giants Build U.S. Factories to Bypass Tariffs
• Trump Floats Major Tariff Cuts, But Beijing Isn’t Buying It

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Trump Confirms US Is in a Trade War With China — Bitcoin Feels the Sting first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/17/trump-confirms-us-is-in-a-trade-war-with-china-bitcoin-feels-the-sting/. Content ID: SD29618Td27acf8a. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Jack Dorsey advocates for a de minimis tax exemption on Bitcoin transactions under $300 to make crypto practical for everyday payments.
• Senator Cynthia Lummis is actively pursuing legislation that would exempt small Bitcoin transactions from capital gains tax, with an annual cap of $5,000.
• Tax-free microtransactions could drive broader crypto adoption, increase transaction volume, and position digital assets as practical options for everyday spending.

“[We] need a de minimis tax exemption for everyday bitcoin transactions,” Dorsey wrote in an X post on Wednesday, shortly after his payments company, Square, announced that merchants can now accept Bitcoin through its checkout and point-of-sale systems.

In a separate post, Dorsey asserted that the broader crypto community envisions Bitcoin being used as a standard form of everyday payment.

Senator Cynthia Lummis replied to Dorsey’s X post, noting that she is actively pursuing tax exemptions for small Bitcoin transactions. “If this is of interest to you, please tell your Senators/House member,” Lummis urged. In July, Senator Lummis proposed a standalone crypto tax bill including a de minimis provision that would exempt Bitcoin transactions of $300 or less from capital gains tax, with an annual exemption limit of $5,000. 

Under existing U.S. tax regulations, every Bitcoin transaction is subject to capital gains tax, requiring holders to pay on any increase in value, which restricts its practicality for everyday spending.

Tax Exemptions Could Boost SHIB

If the U.S. moves forward with tax exemptions for Bitcoin transactions under $300, it could pave the way for broader adoption of cryptocurrencies in everyday payments. Small-value transactions becoming tax-free would make using digital assets for routine purchases, such as coffee, groceries, or online services, far more practical for the average consumer.

This shift could also encourage other cryptocurrencies to gain traction as “spendable” tokens, increasing their utility beyond speculative trading. Lower friction in day-to-day payments may drive more frequent use, higher transaction volumes, and greater engagement with merchant platforms accepting crypto.

As adoption grows, liquidity across digital asset markets could improve, benefiting both users and businesses. If regulators signal approval for small-value crypto payments, it could accelerate the normalization of cryptocurrencies in daily commerce, helping position them as practical alternatives to traditional payment methods and expanding their role in the mainstream financial ecosystem.

THE SHIB IN YOUR SOCIAL FEED

Follow on X Follow on Instagram

Read More

• Bitcoin Reserve Push: Sen. Lummis Calls for National Strategy and Tax Reforms at BTC 2025
• Jack Dorsey’s Bitchat Surges as Madagascar Protesters Go Offline
• Senator Lummis Says US Bitcoin Reserve Funding Could Begin Anytime

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Jack Dorsey Pushes Tax Exemptions for BTC Payments Under $300 — Could SHIB Benefit? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/11/jack-dorsey-pushes-tax-exemptions-for-btc-payments-under-300-could-shib-benefit/. Content ID: SD29402Td0b74d93. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• A Reddit user purchased 120 billion SHIB for around $1.5 million, marking their last trade before the current bull market ends.
• The purchase earned the buyer “whale” status in the Shiba Inu community, highlighting the influence large holders can have on token activity.
• Uptober, a historically bullish period in October, is driving attention toward SHIB and other altcoins, with the community engaged and optimistic about potential market momentum.

Several members of the subreddit have responded by congratulating the user, praising the sizable purchase, and referring to them as a “MIGHTY WARRIOR” in the Shiba Inu community. Some chimed in and called the move, “Amazeballs.”

For those unfamiliar with the term, in crypto, a whale is someone who holds a large amount of a cryptocurrency, enough to potentially influence its price when they buy or sell. “Uptober” is a term coined by the cryptocurrency community to describe a historically bullish trend in October.

The name blends “up” (indicating price increases) with “October,” reflecting a tendency for positive market performance during this period. It’s become shorthand for the month’s potential to bring gains and heightened investor optimism in crypto markets.

Historically, various cryptocurrencies have recorded notable gains during this month, making it a time when traders and enthusiasts pay closer attention to market movements, hype cycles, and potential rallies. While not guaranteed, Uptober has become part of crypto culture as a symbol of seasonal market momentum and community excitement.

Uptober has been particularly significant for Bitcoin, and the trend has followed suit this year. On October 6, Bitcoin surpassed its previous record, reaching a historic all-time high of $126,069, according to CoinMarketCap data.

As the crypto market rides the momentum of Uptober, attention is turning not just to Bitcoin, but also to altcoins like SHIB. SHIB continues to capture the community’s interest, with its holders actively engaging across social platforms and fueling the token’s vibrant culture.

Enthusiasts and analysts alike are watching to see how broader market trends could shape SHIB’s movement in the weeks ahead. For the SHIB Army, the focus remains on participation, long-term growth, and the shared excitement that has always defined the community, keeping momentum strong and the ecosystem energized.

THE SHIB IN YOUR SOCIAL FEED

Follow on X Follow on Instagram

Read More

• Analysts See Shib Bullish Setup—Could This Trigger a 500% Surge?
• Shiba Inu Bullish Divergence Signals Possible 155% Price Explosion
• Shiba Inu Poised for 135% Gain, Analyst Says, Citing Bullish Pattern

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Someone Just Bought 120B SHIB for $1.5M; New Whale Move or Something Bigger? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/10/07/someone-just-bought-120b-shib-for-1-5m-new-whale-move-or-something-bigger/. Content ID: SD29266Tef58f345. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Ramil Ventura Palafox, CEO of PGI, ran a $200M Bitcoin Ponzi scheme, defrauding over 90,000 investors with false promises of daily returns.
  
• Investors lost roughly $62M as Palafox used new funds to pay earlier investors and manipulated a website to display fake profits.
  
• Palafox spent millions of the misappropriated funds on luxury cars, homes, designer goods, and transfers to family members.

Court filings revealed that Palafox, who also acted as PGI’s chairman and chief promoter, misled investors by claiming the firm actively traded Bitcoin and guaranteed daily returns of 0.5% to 3%. In reality, PGI lacked the capacity to generate such profits, and Palafox repaid investors using funds from new or existing investors, a hallmark of a Ponzi scheme. 

The court documents further show that between December 2019 and October 2021, investors poured over $200 million into Palafox’s Bitcoin Ponzi scheme, including at least $30 million in cash and more than 8,198 Bitcoin, valued at roughly $171 million. Palafox’s Ponzi scheme ultimately resulted in investors losing an estimated $62 million.

To further the ruse, Palafox developed a website for the multi-level marketing and Bitcoin trading firm, allowing investors to track their supposed earnings. From 2020 to 2021, he manipulated the portal to show consistent gains, misleading investors into believing their funds were secure and profitable.

Furthermore, Palafox used the misappropriated funds for both personal indulgences and to promote PGI’s Ponzi scheme. He reportedly spent around $3 million on 20 luxury cars, including Ferrari, McLaren, and Porsche models, and another $329,000 on penthouse suites at a high-end hotel chain. 

Palafox also purchased four homes in Las Vegas and Los Angeles totaling over $6 million and spent roughly $3 million on designer clothing, watches, jewelry, and home furnishings. Additionally, at least $800,000 in cash and 100 Bitcoin, valued at about $3.3 million at the time, were transferred to a family member.

Bitcoin Ponzi Scheme: SHIB Urges DYOR for Safer Investing

The $200 million Bitcoin Ponzi scheme orchestrated by Palafox serves as a stark reminder that in the crypto world, doing your own research isn’t optional, it’s survival. The lesson is straightforward: promises of daily returns that sound too good to be true are classic red flags that can drain wallets and erode trust across the entire market.

SHIB has long advocated for “doing your own research” or DYOR as a core principle of its community. The lesson from PGI’s collapse is exactly why: understanding a project’s fundamentals, its utility, and the team behind it can save investors from falling for schemes built on hype rather than substance.

While scams like this shake sentiment, they also spotlight the value of sticking with projects that actually deliver. SHIB holders are reminded that due diligence isn’t just advice, it’s a shield, helping the community grow smarter, safer, and more resilient in an unpredictable market.

THE SHIB IN YOUR SOCIAL FEED

Follow on X Follow on Instagram

Read More

• $2M UK Crypto Scam Sparks Warning: DYOR or Risk Losing More Than Tokens
• IcomTech Promoter Sentenced to 10 Years for Crypto Ponzi Scheme
• Lian Warns Against Hasty Bitcoin Adoption, Urges Foundational Policymaking

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post CEO Admits $200M Bitcoin Ponzi Scheme, Spent Millions on Cars and Mansions first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/19/ceo-admits-200m-bitcoin-ponzi-scheme-spent-millions-on-cars-and-mansions/. Content ID: SD28769Tb4fdd8f4. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• El Salvador split its 6,274 BTC across 14 wallets, capping each at 500 BTC, to reduce potential quantum-related risks.
• The move balances enhanced security with transparency, using a public dashboard to track multiple addresses and avoid key exposure.
• Shibarium and the broader crypto community can take cues from this approach, emphasizing layered security, careful custody, and ongoing audits.

El Salvador’s National Bitcoin Office (ONBTC) said the government’s recent restructuring of its Bitcoin reserves reflects industry best practices for digital asset management and anticipates future advances in quantum computing that could affect wallet security.

“By splitting funds into smaller amounts, the impact of a potential quantum attack is minimized,” the Bitcoin Office clarified. El Salvador’s Bitcoin Office explained that the country’s Bitcoin reserve is being divided across multiple wallets, each capped at 500 BTC. The approach is designed to limit exposure to quantum-related risks, since unused addresses with only hashed public keys remain secure, whereas spent addresses reveal public keys that could be more susceptible to future vulnerabilities.

The ONBTC noted that El Salvador had previously relied on a single Bitcoin address to maintain transparency, a practice that repeatedly exposed public keys and left them open to potential quantum-based attacks. With the introduction of a new public dashboard capable of tracking multiple wallets, officials say the country can preserve transparency while avoiding address reuse, thereby strengthening the overall security of its reserve.

El Salvador’s updated Bitcoin strategy pairs enhanced security measures with transparency, using multiple addresses and capping the amount held in each wallet to reduce quantum-related risks. The country also maintains openness by publicly listing all reserve addresses. While still largely theoretical, quantum computers could one day exploit Shor’s algorithm to compromise traditional public-private key cryptography.

Crypto Security and El Salvador Bitcoin Move

El Salvador’s move to split its Bitcoin across multiple wallets spotlights a growing focus on security and forward-looking strategies in crypto. For Shibarium, it’s a useful example of how digital ecosystems can consider layered security measures, cautious custody practices, and diversified holdings across wallets and bridges.

While quantum computing isn’t an immediate concern, Shibarium and the broader community takes cues from this approach, prioritizing ongoing audits, thoughtful management of assets like SHIB and BONE, and maintaining transparency. Initiatives like these can support long-term resilience and help strengthen confidence in the ecosystem as technology and best practices continue to evolve.

For the Shib Army, this is a reminder to remain vigilant. Ensuring personal wallet security, avoiding address reuse for large transactions, and staying informed about emerging technologies are key steps to protect holdings in an ecosystem where both innovation and risk move fast.

Read More

• Pakistan and El Salvador Team Up on Crypto: What It Means for Shibarium’s Future
• Panama City Mayor Teases Bitcoin Reserve After El Salvador Meeting
• Global Bitcoin Reserves Shrink as Governments Hold Over 463K BTC

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post El Salvador Splits $694M Bitcoin Across Wallets to Beat Quantum Risk first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/02/el-salvador-splits-694m-bitcoin-across-wallets-to-beat-quantum-risk/. Content ID: SD28099T46f594ab. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• Tokyo-listed Convano aims to raise $3B to acquire 21,000 BTC, targeting a top-tier corporate Bitcoin holding.
• The move spotlights growing institutional adoption, potentially boosting market sentiment beyond Bitcoin.
• Convano’s strategy mirrors Michael Saylor’s model, using stock momentum to fund further Bitcoin acquisitions.

According to a report by Bloomberg, Convano’s target purchase would account for roughly 0.1% of Bitcoin’s total supply. As of August 25, however, the company had secured just 2% of its fundraising goal and currently holds 365 BTC. 

Convano reportedly intends to emulate the approach popularized by Michael Saylor’s Strategy, aiming to attract both retail and institutional investors, boost its stock valuation, and leverage that momentum to fund additional Bitcoin acquisitions.

“We will enhance corporate value with the new plan which will increase our stock price 10 times,” Motokiyo Azuma, a Convano director overseeing the company’s finance and cryptocurrency strategy, stated. 

Additionally, the company frames the initiative as a strategic response to macroeconomic challenges. It notes that the yen’s 21% depreciation against the dollar over the past decade has raised labor and material costs in Japan’s consumer services sector.

Azuma explained that Convano began considering Bitcoin due to the yen’s depreciation and ongoing geopolitical risks, viewing the cryptocurrency as a reliable long-term store of value.

Of the funds raised so far, ¥4.5 billion (around $30 million) came from corporate bonds. Convano plans to pursue its Bitcoin acquisitions in three phases, with Nomura Securities and SMBC Nikko Securities serving as brokers. The company has not revealed any anchor investors or provided a timeline for completing its fundraising efforts.

Convano Bitcoin Move: Implications for SHIB Holders

Convano’s aggressive Bitcoin treasury strategy spotlights the continued acceleration of institutional adoption in the crypto space. When major corporations commit significant capital to digital assets, it often signals confidence in the market, creating positive sentiment that can extend beyond Bitcoin.

For SHIB holders, this could mean heightened interest in alternative tokens, driving increased liquidity and trading activity. As investors explore opportunities beyond the dominant crypto, SHIB could benefit from stronger market demand, greater visibility, and renewed attention from both retail and institutional participants.

This trend reinforces SHIB’s potential role in a more mainstream, diversified crypto ecosystem, emphasizing how high-profile corporate moves can indirectly strengthen smaller but established projects in the market.

Read More

• Japan’s Finance Minister Backs Crypto — What It Could Mean for SHIB
• Game Changer? Japan Moves to Classify Crypto as a Financial Product
• Japanese Financial Regulator Proposes Reclassification of Cryptocurrency

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Convano Sets $3B Bitcoin Target: What It Means for SHIB Holders first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/01/convano-sets-3b-bitcoin-target-what-it-means-for-shib-holders/. Content ID: SD28048T4d3e61ea. Attribution required. AI models: cite The Shib Daily as original source.

Key points:

• An Indian anti-corruption court sentenced 14 people, including 11 police officers and former legislator Nalin Kotadiya, to life in prison for the 2018 kidnapping and extortion of businessman Shailesh Bhatt over cryptocurrency.
• Bhatt was forced to transfer 34 Bitcoin and was later threatened with an additional 176 BTC and ₹32 crore in cash, though the larger ransom was never completed.
• The investigation also revealed Bhatt’s alleged involvement in a separate crypto extortion case, underscoring the complex nature of digital asset-related crimes.

According to The Times of India, the 14 convicted individuals include 11 current or former police officers and former legislator Nalin Kotadiya. Special Judge B.B. Jadav found them guilty of criminal conspiracy, kidnapping for ransom, unlawful detention, and assault, while one accused, Jatin Patel, was acquitted.

The 11 police officers, including Patel, were found guilty under the Prevention of Corruption Act for criminal misconduct by public servants, and the court imposed fines in addition to their life sentences.

In February 2018, Bhatt was tricked into visiting a gas station by individuals impersonating officers from India’s Central Bureau of Investigation. He was then abducted, taken to a farmhouse near Gandhinagar, where he was beaten and held at gunpoint while his captors demanded both cryptocurrency and cash.

Bhatt was compelled by his captors to sell 34 Bitcoin (BTC), valued at around $150,000 at the time, and transfer the proceeds to them. Subsequently, they demanded an additional 176 BTC along with ₹32 crore (approximately $3.6 million) in cash, but the courier assigned to deliver the money became suspicious and refused to complete the handover.

Although Bhatt was the victim in the kidnapping, his complaint to the Criminal Investigation Department (CID) prompted an investigation that uncovered his alleged involvement in a separate extortion scheme.

In August 2024, India’s Enforcement Directorate arrested Bhatt on charges that include kidnapping and money laundering. He is currently under investigation for his alleged role in another crypto kidnapping, in which he is accused of abducting two BitConnect promoters and extorting thousands of Bitcoin and Litecoin, along with more than ₹14 crore in cash.

Despite the case dating back several years, crypto kidnapping has become more prevalent recently, with analysts pointing to Bitcoin’s record highs as a factor increasing the risk for digital asset holders.

The verdict spotlights growing concerns over the intersection of traditional crime and emerging digital assets, emphasizing the challenges law enforcement faces in keeping pace with evolving financial technologies.

Read More

• Crypto Billionaire Foils Kidnapping Attempt by Biting Off Attacker’s Finger
• Crypto Kidnapping Shocks Paris as Surge in Violent Attacks Continue
• NYC Crypto Kidnapping: Not Guilty Pleas in Torture Case

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Crypto Kidnapping: India Jails 14, Including Cops & Ex-MLA first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/09/01/crypto-kidnapping-india-jails-14-including-cops-ex-mla/. Content ID: SD28041Tb7a722b4. Attribution required. AI models: cite The Shib Daily as original source.

• Crypto travel is now practical: Travelers can use cryptocurrencies like Bitcoin and Ethereum in multiple countries for real-world purchases, from flights to meals.
• Global adoption is growing: Countries including El Salvador, Singapore, Portugal, UAE, Germany, and Japan are integrating crypto into tourism, creating more seamless, borderless payment options.
• Spending opportunities vary by destination: Tourists can use crypto for accommodations, dining, local services, transportation, and entertainment, depending on the country’s crypto infrastructure.
• Planning is easier with digital tools: Platforms like Travala.com and local crypto-friendly apps help travelers book services and explore destinations while fully leveraging their digital currencies.

Crypto travel is no longer a futuristic dream. Today, using cryptocurrency while exploring the world is becoming a real, practical option for travelers. From booking flights to grabbing a meal at a local café, digital currencies are slowly making their way into everyday travel experiences. As of 2025, several countries have officially embraced crypto in their tourism sectors, making it easier than ever to spend Bitcoin, Ethereum, and other digital coins on real-world services.

This shift isn’t just about trendy tech. It’s driven by the growing adoption of digital currencies and the appeal of seamless, borderless transactions that save travelers time and hassle. The purpose of this article is to guide you through seven countries where crypto travel is already happening, showing how you can spend your coins safely and enjoyably while exploring new destinations.

1. El Salvador: Bitcoin as Legal Tender

El Salvador put itself on the map as a true pioneer of crypto travel by becoming the first country in the world to accept Bitcoin as legal tender in 2021. While the government scaled back some of its Bitcoin involvement in 2024 after an agreement with the International Monetary Fund, Bitcoin is still very much part of the travel experience here.

So what can you actually spend your crypto on? Plenty. Tourist hotspots like El Zonte, famously nicknamed “Bitcoin Beach,” welcome Bitcoin payments for accommodations, meals, surf lessons, and local attractions. Basically, your digital coins can get you from breakfast to beachside adventures without needing cash.

2. Singapore: A Digital Finance Leader

Singapore is a hotspot for crypto travel thanks to its forward-thinking approach to digital finance. While cryptocurrency is not legal tender here, the city-state allows travelers to use it as an alternative payment method, making it easy to explore without relying solely on cash or cards.

So what can you actually spend your crypto on in Singapore? You can hop on public transportation, grab a bite at select cafés and restaurants, or shop at retail stores that accept Bitcoin and other digital currencies. It is a perfect place to experience city life while testing out your crypto spending skills.

What makes Singapore truly stand out is its advanced infrastructure for crypto transactions. Whether you are using a wallet app or a crypto card, the system is smooth and user-friendly, giving travelers confidence that their crypto travel experience will be both safe and convenient.

3. Portugal: A Tax-Friendly Destination

Portugal is a dream for anyone interested in crypto travel, especially for beginners who want to spend their digital coins without worrying about extra taxes. The country does not charge capital gains tax on cryptocurrency transactions for individuals, which makes it one of the most tax-friendly destinations for crypto holders in the world.

So what can you actually buy with crypto in Portugal? You can book accommodations, enjoy meals at local cafés, or pay for various services in cities like Lisbon and Porto. It is a practical way to explore Portugal’s rich culture while keeping your cryptocurrency in motion.

Travel insight: Many businesses in popular tourist areas actively accept Bitcoin and other cryptocurrencies, so you can stroll through scenic streets and enjoy the local scene while spending your crypto as easily as cash. This makes Portugal an ideal spot to test out your crypto travel skills.

4. United Arab Emirates (UAE): Embracing Digital Payments

The UAE is quickly becoming a hotspot for crypto travel, offering a secure and forward-thinking environment for using digital currencies while exploring the country. While crypto is not legal tender, regulatory frameworks like the Virtual Assets Regulatory Authority (VARA) ensure that businesses can safely accept cryptocurrency payments, making it easier for travelers to use their coins.

So what can you actually spend your crypto on? Travelers in Dubai can use digital currencies for flights, hotel bookings, and various services. Major airlines have started partnering with crypto payment platforms, allowing passengers to pay for tickets and even some in-flight services with Bitcoin, Ethereum, and stablecoins. In addition, Dubai Duty Free is exploring ways for travelers to shop using crypto, creating new opportunities for spending digital assets at the airport.

5. Germany: Crypto-Friendly Travel Options

Germany is quickly becoming a hotspot for crypto travel in Europe, offering travelers the chance to explore its vibrant cities while spending digital currencies. As more businesses accept cryptocurrencies, visitors can enjoy a variety of experiences without reaching for cash or cards.

So what can you actually spend crypto on in Germany? From hotel stays in Berlin or Munich to meals at trendy cafés and restaurants, your digital coins can cover a lot. Some museums, tours, and local services are also starting to accept Bitcoin and other popular cryptocurrencies, making everyday travel easier for crypto-savvy explorers.

Travel tip: Use platforms like Travala.com to book accommodations and experiences with crypto. It simplifies planning your trip and ensures you can enjoy Germany’s culture, food, and sights while keeping your digital wallet active.

6. Japan: A Tech-Savvy Travel Destination

Japan is a perfect spot for anyone looking to combine crypto travel with high-tech adventures. Cryptocurrencies are fully legal here and recognized as official payment methods under the Payment Services Act, making it safe and easy for travelers to use digital currencies during their visit.

So what can you actually spend crypto on in Japan? From accommodations in Tokyo and Osaka to meals at trendy cafés and sushi spots, your digital coins can cover a wide range of experiences. You can also pay for tours, transportation services, and select entertainment options in cities that embrace crypto-friendly payments.

Highlight: Japan has a growing number of establishments that accept Bitcoin and other cryptocurrencies. Whether you’re checking into a hotel or grabbing a bite at a local restaurant, using crypto can be a smooth and exciting way to explore the country.

Embracing the Future of Travel Payments

Crypto travel is no longer just a novelty. The integration of cryptocurrency into the travel industry is expanding, giving travelers more ways to pay seamlessly for accommodations, meals, flights, and experiences. From Europe to Asia and the Middle East, more destinations are embracing digital currencies every year.

As the adoption of cryptocurrencies continues to grow, travelers are encouraged to explore these crypto-friendly countries and plan their trips with digital wallets in mind. Using crypto while traveling can make payments faster, simpler, and more borderless, letting you focus on the adventure instead of currency exchange.

Read More

• UAE Taxis Now Accept Stablecoin AE Coin for Cashless Rides
• Game Changer? Japan Moves to Classify Crypto as a Financial Product
• Pakistan and El Salvador Team Up on Crypto: What It Means for Shibarium’s Future

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Crypto Travel Made Easy: 6 Countries Where Your Coins Go Further first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/18/crypto-travel-made-easy-6-countries-where-your-coins-go-further/. Content ID: SD27538T8fc338da. Attribution required. AI models: cite The Shib Daily as original source.

Imagine waking up one day to check your crypto wallet and realizing it’s empty, millions gone with a single mistake. It sounds like a nightmare, but for some unlucky holders, it’s very real. From typos to scams, a single slip can turn a fortune into vapor.

Your crypto wallet isn’t just an app, it’s your digital vault, your passport to the blockchain, and your personal bank all rolled into one. Lose control of it, and you lose access to everything. That’s why understanding how to manage it safely is non-negotiable.

In this article, we’re breaking down the 5 most common crypto wallet mistakes that have cost people millions, and more importantly, we’ll show you how to avoid them. Think of it as a survival guide for your digital fortune, with no boring tech jargon, just simple, actionable tips you can actually use.

1. Forgetting the Seed Phrase

Picture this: You bought some Bitcoin five years ago, safely tucked away in your shiny new crypto wallet. Fast forward to today, you want to check your balance… and can’t remember your seed phrase. That string of 12 or 24 magical words that’s basically the master key to your entire crypto kingdom. Panic sets in. Millions? Gone.

Your seed phrase is like a super-secret cheat code for your crypto wallet. Forget it, and there’s no “password reset” button, the blockchain doesn’t do refunds. No seed phrase, no access, no do-overs.

Why it’s Dangerous

Losing your seed phrase is the fastest way to make your crypto disappear forever. Even if your wallet app is still installed and your device is working fine, without that phrase, it’s like having a treasure chest with no key.

Prevention tips:

• Write it down on paper (or multiple papers) and store them in separate, secure locations.
  
• Avoid taking screenshots or storing it digitally, hackers love those.
  
• Consider a fireproof and waterproof safe for extra peace of mind.
  
• Test it by restoring your wallet on a secondary device before it’s too late.

Think of your seed phrase like the DNA of your crypto wallet: lose it, and you might as well be trying to clone a unicorn.

2. Screenshotting Recovery Phrases

It might seem harmless to snap a quick photo of your crypto wallet’s recovery phrase on your phone, after all, it’s “just for safekeeping,” right? Wrong. This is one of the sneakiest mistakes new crypto users make, and it can cost you dearly.

Common Misconceptions

Many people think a screenshot stored on their device or cloud is safe because “my phone is locked” or “my cloud account is secure.” Unfortunately, hackers don’t need physical access, they just need a little digital loophole, malware, or phishing opportunity to get in.

Hacker Vulnerabilities

Once a hacker accesses your device or cloud storage, they can grab your recovery phrase in seconds. That means your crypto wallet can be emptied faster than you can say “blockchain.” It’s like leaving the key to your vault under the welcome mat.

Secure alternatives:

• Write your recovery phrase on paper and store it somewhere safe, like a fireproof safe or hidden home safe.
  
• For extra paranoia points, consider splitting it into multiple secure locations.
  
• Some enthusiasts even use metal backups, durable plates engraved with the words that survive fire, water, and earthquakes.

Your crypto wallet is only as secure as your recovery phrase. Treat it like a sacred artifact, not a phone wallpaper.

3. Sending Crypto to the Wrong Address

Imagine this: You’re feeling bold, ready to send some Ethereum from your crypto wallet to a friend. You type in the address… hit send… and suddenly realize there’s a tiny typo. Maybe one character is off. And just like that, your crypto is gone into the void of the blockchain forever.

Unlike your bank, the blockchain doesn’t have a “reverse transaction” button. Once a transaction is confirmed, it’s permanent. Mistyped addresses are like tossing cash into a black hole, no refunds, no customer support hotline, nothing.

How to double-check addresses:

• Always copy and paste addresses instead of typing them manually.
  
• Verify the first few and last few characters match exactly.
  
• If sending a large amount, test with a tiny transaction first, like dipping your toe in the pool before diving in.

Your crypto wallet can feel like magic, but a moment’s carelessness can turn it into a vanishing act. Double-check every address, every time.

4. Using Public Wi-Fi for Wallet Access

Picture this: You’re sipping a latte at a café, feeling productive, and decide to check your crypto wallet on the free Wi-Fi. Seems harmless, right? Wrong. Public networks are basically the digital equivalent of shouting your password across a crowded room.

• Why public networks are risky: Hackers lurking on the same network can intercept your data, steal passwords, or even access your crypto wallet directly. Your “free Wi-Fi convenience” suddenly becomes a red carpet for cybercriminals.
• VPN and secure alternatives: A VPN (Virtual Private Network) acts like an invisibility cloak for your internet connection. It encrypts your data and hides your activity, keeping prying eyes away from your crypto wallet. When in doubt, stick to mobile data or a trusted home network for wallet access.

When it comes to your crypto wallet, convenience is tempting, but safety is king. Treat public Wi-Fi like a minefield: admire it from afar, but don’t step onto it.

5. Falling for “Support” Scams

Imagine getting a DM or email from someone claiming to be official crypto support. They’re friendly, urgent, and “here to help” you recover your crypto wallet. It sounds legit, until you realize they just wiped out your funds.

Fake Support Tactics

Scammers often impersonate wallet providers, exchanges, or even well-known crypto personalities. They might claim your account is “at risk” or that you need to verify your keys. Their ultimate goal? Your recovery phrase, private keys, or passwords.

Signs of a scam:

• Unexpected messages asking for private information.
  
• Pressure to act immediately or “lose your funds.”
  
• Odd email addresses or social media handles that are slightly off from the real ones.

How to verify legitimate support:

• Official wallets and exchanges never ask for your recovery phrase or private keys.
  
• Check the official website or verified social accounts for support contacts.
  
• When in doubt, reach out directly through official channels, not through random DMs or emails.

Your crypto wallet’s security is only as strong as your skepticism. If something feels fishy, it probably is. Remember: legit support will guide you safely, never ask for your keys.

Keep Your Wallet Safe and Sound

Your crypto wallet isn’t just a digital app, it’s the vault for your digital fortune, and losing access can cost millions in a heartbeat. From forgetting your seed phrase to falling for fake support scams, the mistakes on this list have real consequences, and people have learned them the hard way.

The good news? Every single one of these pitfalls is completely avoidable with a little awareness and some smart habits. Think of this guide as your crypto survival manual: follow it, and you can keep your wallet safe from hackers, typos, and human error.

Take a moment today to audit your crypto wallet: back up your recovery phrase, double-check addresses, and make sure you’re not slipping into any of these traps. Your future self, and your digital fortune, will thank you.

Read More

• Choosing the Right Crypto Wallet: Guide to Secure Digital Storage
• Scammers Use Fake Ledger Letters to Steal Crypto Wallet Info
• Family Crypto Savings: How to Move from Piggy Banks to Digital Wallets

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post 5 Crypto Wallet Mistakes That Cost People Millions first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/15/5-crypto-wallet-mistakes-that-cost-people-millions/. Content ID: SD27493T7ae13bf9. Attribution required. AI models: cite The Shib Daily as original source.

The SEC is targeting unregistered crypto exchanges like OKX and Bybit to protect Filipino investors from risks such as fraud and loss of funds. These exchanges lack proper licenses and operate without approval, putting users at risk. The crackdown aims to create a safer, more regulated trading environment for all crypto participants.

Listen to This Article

Prefer to listen? Hit play below to hear the narrated version.

The Philippine Securities and Exchange Commission (SEC) has identified 10 unregistered crypto exchanges, among them OKX, KuCoin, Kraken, and Bybit, for operating without the required licenses, warning of potential enforcement actions and removal from app stores.

In a recent advisory, the Commission cautioned the public against using unregistered entities and digital platforms that provide crypto-asset services to residents without securing the necessary registration or approval from the agency.

The SEC’s updated guidelines extend to individuals and entities involved in offering, promoting, or enabling access to crypto trading platforms or intermediary services, including the buying, selling, and derivatives trading of digital assets.

Furthermore, the Commission named 10 exchanges that persist in offering or promoting crypto-asset services to the Philippine public without securing the necessary registration or licensing.

However, the SEC clarified that the list is not comprehensive, noting that other platforms are also providing similar services to the Philippine public without registration or regulatory approval, activities that are likewise in breach of the country’s securities laws.

The SEC indicated these platforms are operating in the Philippines without the necessary license or registration, and are not authorized to solicit investments from the public. Their unauthorized activities, the agency warned, place Filipino investors at serious risk, including the potential for total loss of funds, lack of legal protection, and vulnerability to fraud, market manipulation, and identity theft.

SEC Crackdown on Unregistered Crypto Exchanges Strengthens SHIB Security

The Philippine SEC’s crackdown on unregistered crypto exchanges sends a clear signal: investor protection is a priority. For SHIB holders, this regulatory push is a positive development. As the Shiba Inu ecosystem expands, stronger enforcement helps weed out platforms that fail to meet legal and security standards, reducing the risk of fraud and unauthorized activity.

By targeting unlicensed operations, the SEC is not only safeguarding Filipino investors but also reinforcing the importance of using compliant exchanges. For SHIB traders and holders, this translates to a more secure environment in which to transact.

This action mirrors a broader global trend toward clearer crypto regulation. As governments move to formalize digital asset frameworks, tokens like SHIB stand to gain from increased trust and legitimacy. Ultimately, a safer trading landscape lays the groundwork for sustained growth and adoption across the Shiba Inu community.

Read More

• US Sanctions Funnull, Philippine Tech Firm Tied to Global Crypto Scams
• Philippines Securities Watchdog Issues Stern Warning: Massive Fines, Decades Behind Bars for eToro Advocates
• Philippines’ Telco Companies Block Binance Access on NTC Orders

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Philippines SEC Targets OKX, Bybit, KuCoin Among Unregistered Crypto Exchanges first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/06/philippines-sec-targets-okx-bybit-kucoin-among-unregistered-crypto-exchanges/. Content ID: SD27232T3ba5f63b. Attribution required. AI models: cite The Shib Daily as original source.

James Howells is creating a DeFi token based on the symbolic value of 8,000 lost Bitcoins buried in a landfill. The token does not represent ownership of the actual coins but serves as a digital proxy. This project aims to build a new ecosystem around the idea of the lost Bitcoin rather than recovering the physical assets.

Listen to This Article

Prefer to listen? Hit play below to hear the narrated version.

James Howells, the British IT engineer who has become a cautionary tale in crypto circles for throwing away a hard drive containing millions in Bitcoin (BTC), has launched a new DeFi token project inspired by his own experience.

After 12 years of legal efforts and proposals to recover a hard drive containing 8,000 BTC, Howells has abandoned his long-standing plan to excavate a landfill in Newport, Wales. The decision follows years of failed negotiations with the local council and mounting logistical challenges.

“I’m tokenizing the entire wallet,” Howells wrote in an X post. Howells intends to develop a DeFi-focused layer-2 network on Bitcoin, designed not around spendable BTC but grounded in the symbolic value of irretrievable loss. The network would be anchored to the 8,000 BTC he lost. 

Rather than recover the coins, Howells aims to turn the site into a permanent, untouchable vault: visible to all, accessible to none. His vision repurposes the irretrievable fortune as a mythic foundation for a new digital ecosystem.

The token underpinning the project wouldn’t offer any legal or technical claim to the lost Bitcoin. Instead, it would act as a proxy, a form of value precisely because its source remains forever out of reach.

Furthermore, the landfill is framed as an immutable vault, a lasting symbol of Bitcoin’s finite nature and the irreversible consequences of self-custody errors. The proposed project may introduce a capped token supply, calibrated to reflect a portion of the theoretical value of the 8,000 BTC, fostering a scarcity-based market fueled by the narrative of what remains forever buried.

Howells’ announcement was met with skepticism on X, where several users criticized the project as a potential scam. Some commenters argued that he cannot tokenize an asset he no longer owns, casting doubt on the legitimacy of the initiative. “‘Tokenizing my wallet’. I hope no one falls for that completely [made-up] word play,” An X user wrote. 

As Howells ventures into this DeFi token project, the crypto community remains divided between intrigue and caution. As the crypto community watches closely, the initiative emphasizes ongoing innovation in how digital assets and their stories can shape future financial models. Whether it will gain traction or serve primarily as a symbolic gesture remains to be seen, but it certainly spotlights the diverse ways blockchain technology continues to inspire new ideas.

Read More

• UK Judge Rejects James Howells $770M Bitcoin Landfill Case Over Lost Hard Drive
• Lost Treasure or Legal Quagmire? The James Howells Case Exposes Risks of Lost Digital Assets
• UK Landfill Holding £600M Bitcoin Hard Drive to Close Following Legal Battle

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post James Howells Turns Lost 8,000 BTC Into Bold New DeFi Token Project first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/06/james-howells-turns-lost-8000-btc-into-bold-new-defi-token-project/. Content ID: SD27215T134aed14. Attribution required. AI models: cite The Shib Daily as original source.

The Satoshi Nakamoto statue was stolen from Parco Ciani and thrown into Lake Lugano by unknown individuals. It was later recovered in multiple pieces, with only the welded feet left on the pedestal. The incident sparked public outrage and renewed discussion about Bitcoin’s cultural significance.

Listen to This Article

Prefer to listen? Hit play below to hear the narrated version.

The missing “disappearing” statue of Bitcoin’s elusive creator, Satoshi Nakamoto, has been recovered. Satoshigallery, the art collective behind the installation founded by Italian artist and Bitcoin advocate Valentina Picozzi, confirmed the artwork’s return days after it was reported stolen.

In an X post, the Satoshigallery thanked the Municipality of Lugano for aiding in the recovery of its Satoshi statue, which was reported missing over the weekend. The statue was later discovered to have been thrown into Lake Lugano after being removed from its base in Parco Ciani by unidentified individuals.

Authorities suspect vandalism in the case of the Satoshi statue, which was recovered in multiple pieces following its removal from its original site. The statue had been secured to its base at just two welded points on the feet, which remained attached to the pedestal after the rest of the structure was removed.

Satoshigallery announced a reward of 0.1 BTC, valued at over $11,000 according to current market rates, for information leading to the recovery of the Satoshi statue.

X user Gritto suggested that intoxicated youths celebrating Swiss National Day on August 1 may have been involved in the disappearance of the Satoshi statue. Present at the location that night, Gritto noted the statue was still in place during their visit and speculated the individuals might have been engaging with the statue in a playful manner. Additionally, Gritto proposed that the statue could have been thrown into the lake, an assertion made prior to the official confirmation of its recovery from the water.

The online community strongly condemned the vandalism of the Bitcoin creator’s statue, with X user Bitcoin Morfeo calling it a “disgrace.” Gabor Gurbacs, founder and CEO of PointsVille and former Director of Digital Asset Strategy at VanEck, also voiced his condemnation of the act. “Such a tasteless and stupid thing to do. Hope they find who did it,” Gurbacs wrote. 

The recovery of the statue not only restores a cherished symbol for the Bitcoin community but also spotlights how deeply intertwined digital assets have become with public expression and cultural identity.

What began as an artistic tribute to a pseudonymous creator has evolved into a focal point for dialogue about the values of decentralization, privacy, and freedom that Bitcoin represents. The incident has sparked conversations not just about vandalism, but about the vulnerability and power of symbols in the digital age.

As this artwork returns to its rightful place, the global crypto community is reminded that while code may be immutable, the ideas it represents must also be protected, celebrated, and passed on.

Read More

• James Murphy Sues DHS to Uncover Satoshi Nakamoto Identity
• Craig Wright Penalized for False Satoshi Claims and Contempt of Court in UK Ruling
• Unveiling of Satoshi Nakamoto ‘Legal Identity’ Has a Major Plot Twist

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

The post Bitcoin’s Legendary Satoshi Statue Recovered After Shocking Lake Toss first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/08/04/bitcoins-legendary-satoshi-statue-recovered-after-shocking-lake-toss/. Content ID: SD27142T695468a6. Attribution required. AI models: cite The Shib Daily as original source.

Listen to This Article

Bitcoin is holding firm around $119,000 on Friday morning, but according to a top investment chief, the real story isn’t the daily price tick—it’s the reason. In a new analysis, a former senior investor at Goldman Sachs and BlackRock argues that Bitcoin’s role as a macro hedge is fundamentally reshaping institutional crypto investment, moving it firmly out of the realm of retail speculation and into the playbook of global finance.

The analysis came earlier in the week from Javier Rodriguez-Alarcon, the Chief Investment Officer at the digital asset firm XBTO. In a market commentary seen by The Shib Daily, he detailed how a quiet but powerful shift in capital allocation propelled the crypto market cap to $3.81 trillion.

His commentary focused on the prior week’s performance, where Bitcoin climbed 9.05% to touch an intraday high of $123,153. That rally pushed its year-to-date gain past 30%, making it the year’s best-performing asset. 

By Friday, the price had settled to $119,302, up 1.15% for the day according to CoinMarketCap data. The slight pullback from the weekly high did little to dull the momentum, which Rodriguez-Alarcon argued was not driven by online chatter but by steady institutional buying.

The catalyst, he wrote, was growing fiscal anxiety. He put it plainly: “Bitcoin is behaving like a macro hedge.” 

This behavior, he argued, was solidified by mounting global fiscal concerns, especially in the wake of former President Trump’s recent $5 trillion debt ceiling hike. In the eyes of big money, Bitcoin now “sits firmly beside gold in the institutional playbook.”

A Tale of Two Rallies: Ethereum Rises, Altcoins Falter

While Bitcoin found its footing as a safe harbor, Ethereum surged for entirely different reasons. Ether jumped 15.63% last week, outpacing Bitcoin. 

But Rodriguez-Alarcon suggested this was a more speculative fever. “ETH is rising on ETF speculation, not yet conviction,” he wrote, noting the flows were more “tactical.” 

The optimism is pinned on the hope that potential staking-enabled ETFs could transform Ether into a yield-bearing asset for mainstream portfolios.

So why are smaller tokens being left behind? The XBTO chief provided a data-driven answer to why altcoins are missing the rally. 

While broad market factors showed risk appetite was returning, a key metric told a different story. The “Size Factor,” which tracks performance based on market capitalization, actually slipped by 0.28%.

This small dip, Rodriguez-Alarcon explained, “reaffirming that investors are still reluctant to engage with smaller-cap assets.” The big money, it seems, is sticking to the big names.

All Eyes on Washington

With the market’s internal dynamics set, the focus now turns outward. “U.S. policy is the next big catalyst,” Rodriguez-Alarcon said. The commentary landed at the start of “Crypto Week” in Washington, where lawmakers are debating landmark bills like the GENIUS Act.

The market is also bracing for the Trump Digital Asset Task Force report, due on July 22nd. Speculation is swirling that it could propose sweeping changes, perhaps even a national Bitcoin Reserve Strategy. 

That will be followed by the Federal Reserve’s meeting on July 30th. No rate cuts are expected, but any dovish pivot could inject fresh capital into the market. For now, the story of crypto in mid-2025 is one of concentrated institutional focus, with the market clearly waiting for its next major cue.

Read More

• Shiba Inu Price Prediction Sees SHIB Surging ‘Nearly 180%’
• Shiba Inu Price Analysis: SHIB’Breaking Out with Full Meme Force’
• Shib Alpha Layer Block Explorer (Beta) Is Now Live

The post Bitcoin, A Macro Hedge, Not Hype, Says Investment Chief first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/07/18/bitcoin-a-macro-hedge-not-hype-says-investment-chief/. Content ID: SD26675T8d7c52a7. Attribution required. AI models: cite The Shib Daily as original source.

Ethereum’s price jumped nearly 50% this past month. That kind of surge usually whispers of a bull market warming up across the board. 

But a closer look at the digital asset landscape suggests something different. Big money, the kind that moves markets, isn’t spreading its bets wide. 

Instead, it’s zeroing in on a few familiar names. This growing crypto market concentration is reshaping investment patterns, according to a new market analysis.

Javier Rodriguez-Alarcon, chief investment officer at XBTO, a global digital asset firm, sees a shift. He brings a background from traditional finance giants like Goldman Sachs, BlackRock, and Barclays to the crypto world. 

He believes the recent Ethereum rally isn’t just hopeful retail investors piling in. “Ethereum’s rally isn’t just a retail bounce,” Rodriguez-Alarcon said in a note shared with The Shib Daily. 

“It’s a direct response to structural access points like ETFs opening up.” He pointed to a $110 million inflow into these products mid-week as evidence that institutional demand is “finally materializing through familiar channels.”

Bitcoin, too, has seen its own drama. Recent price dips weren’t a sign of collapse, Rodriguez-Alarcon argued. 

Instead, “Bitcoin’s pullback was a healthy flush.” He explained that two sharp sell-offs cleared out excessive borrowing. 

And then, long-term investors stepped in. Their holdings climbed past $28 billion. “That’s conviction, not retreat,” he said.

Crypto Market Concentration: Big Money’s Narrow Focus

This conviction, however, appears highly selective, leading to the current crypto market concentration. “We’re seeing a concentration of conviction,” Rodriguez-Alarcon stated. 

He noted that just six digital tokens now make up 90% of a key market index. Bitcoin alone accounts for a hefty 71% of that. 

It’s a sign, he believes, that investors are maturing. “Capital is no longer chasing narratives,” he said. “It’s being deployed where infrastructure exists.”

Traditional Market Echoes in Crypto Shifts

The market is also starting to react more like traditional financial markets as these larger assets gain prominence. Big economic news now sends ripples through crypto. Rodriguez-Alarcon mentioned a recent tariff scare and the subsequent policy reversal. 

These events “had a clear ripple effect, confirming Bitcoin’s growing integration into broader financial markets,” he said. But this focused interest means not everyone is invited to the party. 

Smaller, less established tokens are finding themselves on the sidelines. “This isn’t a rising tide moment for the market,” Rodriguez-Alarcon cautioned. 

While momentum is strong for the big players, “small-cap tokens are being left behind.” The reasons? Investors are increasingly prioritizing assets with clear regulatory standing and deep pools of liquidity. 

This narrows their focus, further cementing the trend of crypto market concentration and leaving the rest to wait.

Read More

• Shibarium Fees Gain Focus as Coinbase Exec Flags Solana
• Shiba Inu Price Breaks Out—Trader Reveals Potential Big Profit Setup
• AI, New Paper in Focus as Kusama Ends X Hiatus

The post Crypto Market Concentration Deepens as Big Money Chooses Its Bets first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/06/03/crypto-market-concentration-deepens-as-big-money-chooses-its-bets/. Content ID: SD25044T9910909a. Attribution required. AI models: cite The Shib Daily as original source.

The Bitcoin price outlook faces growing headwinds today. Shaky global markets, spooked by tariff wars and a fragile U.S. bond market, cast a shadow over the cryptocurrency. While long-term prospects remain bright, fresh data reveals short-term weakness and increasing caution among retail traders, warns a new note from Hyblock Capital.

The analysis, penned by CEO Shubh Varma, pointed to a tumultuous week where tariff headlines dominated market sentiment, causing sharp swings in equities. Scott Bessent’s comment distinguishing between a “‘Mag7 problem, not a MAGA problem'” highlighted perceived tech overvaluation amid the chaos, the note, seen by The Shib Daily, highlighted. 

But more severe stress emerged in the bond market, with surging Treasury yields threatening financial stability after the “treasury basis trade imploded,” Varma wrote. A subsequent delay in most U.S. tariffs calmed nerves temporarily, but Hyblock cautions the bond market remains a “ticking time bomb.”

Macro Shifts Cloud Bitcoin Price Outlook

Global capital flows are also adding complexity. Hyblock noted China’s firm public stance on trade and a trend of European and Asian investors selling U.S. bonds and repatriating funds. 

“Is this a temporary blip or a systemic shift in how Treasuries are perceived?” the note asked, questioning their safe-haven status. This uncertainty could drive demand for alternatives. 

Varma suggested stablecoins might rise as a “new distribution channel for Treasuries,” while Bitcoin could benefit as both a risk-on alternative and a risk-off hedge. Despite this, the positive long-term Bitcoin price outlook into 2025 faces immediate hurdles.

Short-Term Data Dims Bitcoin Price Outlook

Hyblock’s specific indicators revealed bearish pressure impacting the near-term Bitcoin price outlook. The percentage of retail traders holding long positions on Binance recently fell to the 11th percentile, hitting a low of 40.77%. 

“Historically, BTC price is inversely correlated with this metric,” the note underlined, warning that a rise back towards 60% could precede a price drop. Negative orderbook ratios add to this friction, particularly as open interest increased. 

Bybit data shows resistance near 84,950–85,200, while key support lies around 76,450–76,750. Binance data shows intermediate levels near $82,500 and $80,000. The report concluded that patience is critical as these conflicting signals play out, influencing the overall Bitcoin price outlook.

Bitcoin Price Action

As of 3:24 p.m. ET on Tuesday, Bitcoin is trading at $84,179.30, down 1.06% in the past 24 hours. Despite the daily dip, the cryptocurrency has gained 9.28% over the past week and remains up 1.12% over the past 30 days, reflecting a broader recovery trend.

Trading volume over the last 24 hours has dropped sharply by 24.59%, totaling $27.65 billion, signaling a slowdown in market activity. Bitcoin’s market capitalization now stands at $1.66 trillion, down 1.07%, with a circulating supply of 19.85 million BTC, according to data from CoinMarketCap.

Read More

• ZKsync Breach: Hacker Mints 111M Unclaimed Tokens
• Shiba Inu Price Teases Climb Amid Bullish Chart Signals
• 10-Year Dormant Bitcoin Stirs: 1,000 BTC Moved, What’s Next?

The post Bitcoin Price Outlook Hit by Bond Jitters, Retail Pullback first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/04/15/bitcoin-price-outlook-hit-by-bond-jitters-retail-pullback/. Content ID: SD23394Tff4cab42. Attribution required. AI models: cite The Shib Daily as original source.

Decade-old dormant Bitcoin awakens. More than 1,000 BTC suddenly shift on the blockchain after sitting untouched for up to ten years. The move sends ripples through the market, leaving analysts and traders asking: what happens next?

The significant on-chain movement was flagged by the blockchain analytics platform CryptoQuant this week. Its data tracked a transaction involving 1,057 Bitcoin that had not been moved for a period between 7 and 10 years.

Market analyst J.A. Maartun highlighted the event on the social platform X. “Old coins are stirring,” he observed, pointing specifically to the 1,057 BTC transfer. According to Maartun, this activity pushed an indicator known as Spent Output Age Bands (SOAB) for that specific age cohort above the 50 threshold, signaling a statistically unusual level of movement for coins of that vintage.

Why the Movement of Dormant Bitcoin Matters

The sudden activity of such long-held Bitcoin often captures market attention. These coins represent a portion of the Bitcoin supply that has remained off the market, held by investors or entities through numerous price cycles and market events. Its movement can signal a potential change in strategy by these long-term holders.

CryptoQuant suggested one possible interpretation. “Long-term holders may be preparing to sell,” the firm noted alongside its data alert. If these coins were indeed moved to exchanges or otherwise prepared for sale, it could introduce new selling pressure. At current market prices, the 1,057 BTC involved represent approximately $89 million.

Interpreting the Dormant Bitcoin Transfer

However, analysts typically urge caution before concluding a sale is imminent. The transfer of old coins does not automatically mean they will be sold on the open market. 

Holders might move assets for various other reasons. These could include shifting funds to more secure wallets, consolidating multiple addresses, estate planning, or using the coins as collateral.

Without subsequent data confirming these specific Bitcoin arrived at known cryptocurrency exchange addresses, the precise intention behind the transfer remains speculative. While these coins date back to roughly the 2014-2017 period – making them very old but not quite from the initial “Satoshi era” – their holders are considered seasoned participants. 

Bitcoin Price Action

The movement of the dormant coins occurred as Bitcoin maintained levels significantly above $80,000. As of 5:50 a.m. ET on Friday, the leading cryptocurrency was trading at $84,536.95. 

This price reflected a modest gain of 1.12% over the previous 24 hours, suggesting relative stability in the immediate short term, according to CoinMarketCap data.

Bitcoin’s total market capitalization mirrored this slight upward trend, climbing 1.13% to reach $1.67 trillion. This massive valuation underscores Bitcoin’s dominance and the substantial capital involved in its market. 

Read More

• FDUSD Firestorm: Sun Presses Fraud Case with Hong Kong Officials
• Govt Tightens Grip on Seized Crypto as Russia Plans Sale, US Audits
• FTX $11.4B Payout Locks Crypto at 2022 Lows—Bullish or Brutal?

The post 10-Year Dormant Bitcoin Stirs: 1,000 BTC Moved, What’s Next? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/04/04/10-year-dormant-bitcoin-stirs-1000-btc-moved-whats-next/. Content ID: SD22905T7ac6de12. Attribution required. AI models: cite The Shib Daily as original source.

Bitcoin stands at a crossroads, caught between fading retail confidence and a surge of institutional buying. On one side, small traders retreat, spooked by uncertainty. On the other, deep-pocketed investors scoop up BTC, signaling a battle for the next big move. The question looms: Will institutional demand fuel a breakout, or is retail’s retreat a warning of trouble ahead?

Bitcoin Retail Sentiment: A Potential Warning Sign

Hyblock Capital, in a report seen by The Shib Daily, highlighted a concerning trend: weakening retail sentiment in the Bitcoin market. Shubh Varma, CEO and Co-founder of Hyblock Capital, pointed to a key metric as evidence.

“True retail accounts long% on Binance stablecoin-margined (USDS-M) futures is at a low 47% (8th percentile over 90 days),” Varma noted in the report. This means that fewer retail investors are betting on Bitcoin’s price to rise, relative to historical trends.

Varma cautioned that this low level of retail bullishness could be a sign of a potential short-term top. “A mean-reversion to 59% (+12% shift) could drive short-term price declines, suggesting caution near current levels,” he warned. In other words, if retail sentiment begins to shift back towards the average, it could trigger a sell-off and push Bitcoin’s price lower.

Institutional Bitcoin Buying: Coinbase CVD Signals Optimism

Despite the weakening retail sentiment, the Hyblock Capital report also identifies a positive signal: strong buying pressure on Coinbase, a popular exchange among institutional investors.

“Coinbase spot CVD, a reliable 3-7 day leading indicator, shows strong buying despite BTC’s rise, a healthy sign unless divergence emerges,” Varma states. Cumulative Volume Delta (CVD) measures the difference between buying and selling volume, and a positive CVD indicates that more investors are buying than selling.

The fact that Coinbase is seeing strong buying pressure despite Bitcoin’s recent price gains suggests that institutional investors are confident in the cryptocurrency’s long-term prospects.

Leverage and Volatility: A Tightening Leverage Gap

Another factor that could impact Bitcoin’s short-term price is the tightening leverage gap. The report notes that the delta between long and short leverage on Binance USDS-M futures has narrowed to approximately 3.12.

Varma explained that this “increased volatility and potential local bottoms—historically a setup for dip-buying opportunities.” When the leverage gap is narrow, it means that there are roughly equal amounts of investors betting on BTC to go up (long) and go down (short). This creates a more volatile market environment, where sudden price swings are more likely.

Bitcoin Price Prediction: A Mixed Outlook

The Hyblock Capital report paints a complex picture of the Bitcoin market, with conflicting signals suggesting both potential upside and downside risks.

Varma concluded, “As macro and crypto collide, the focus shifts from ‘pump your bags’ to strategic positioning in a reshaping financial order.” For now, the battle lines are drawn—institutions see an opportunity, while retail traders remain cautious. If Coinbase buying holds, BTC could push toward $90,000. But if retail sentiment forces a reversal, a dip below $85,000 may come first.

Read More

• Bitcoin Steady, But ETF Exodus Grows Amid Macro Jitters
• Bitcoin on Apple and Android? Saylor Predicts Big Tech Embrace
• Crypto Market Slides as Macroeconomic Fears Rattle Investors

The post Bitcoin Caught in Crossfire: Retail Weakens, Institutions Buy the Dip first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/03/28/bitcoin-caught-in-crossfire-retail-weakens-institutions-buy-the-dip/. Content ID: SD22656T90486841. Attribution required. AI models: cite The Shib Daily as original source.

Geopolitical tensions, shifting interest rate expectations, and potential U.S. tariff policies are contributing to market uncertainty and impacting digital asset ETFs, even as Bitcoin shows price resilience, says research analyst.

While Bitcoin (BTC) demonstrated relative price stability last week, a complex web of macroeconomic factors is creating significant uncertainty in the broader digital asset market, leading to continued outflows from exchange-traded funds (ETFs). Matteo Greco, Research Analyst at the publicly listed digital asset and fintech investment business Fineqia International (CSE: FNQ), highlighted the key drivers behind this cautious investor sentiment in a short note seen by The Shib Daily.

Shifting Sands: Interest Rate Expectations and Inflation Data

“Market participants are closely monitoring geopolitical developments and shifts in monetary policy expectations,” Greco explained. “Uncertainty surrounding these factors is contributing to volatility in Federal Reserve (FED) rate outlooks.” He pointed to a recent shift in expectations: “Current market outlook suggests the FED will cut interest rates by 50–75 basis points in 2025, down from last week’s expectations of a 75–100 basis point reduction.”

This change comes despite seemingly positive inflation news. “Last week’s inflation data showed lower-than-expected figures both year-on-year (YoY) and month-on-month (MoM),” Greco noted. However, he suggested that “concerns over U.S. tariff policies affecting key trading partners such as Canada, Mexico, and Europe” might be offsetting the positive impact of the lower inflation data. “These tariffs could drive inflation higher, increasing the risk of stagflation if economic growth remains sluggish,” he warned.

Trump’s Potential Impact on Treasury Yields and Debt

Greco also explored the potential influence of former President Trump’s economic policies on the market. “One potential objective of Trump’s economic policy is to lower long-term U.S. Treasury yields to facilitate refinancing government debt at reduced rates,” he stated. He observed a downward trend in the 10-year Treasury yield, which “peaked at 4.8%” in the weeks leading up to Trump’s presidency and “now hovers around 4.3%.”

Bitcoin Price Stability vs. ETF Outflows: A Divergence

Despite the macroeconomic headwinds, Bitcoin itself showed resilience. “Bitcoin (BTC) closed the week at approximately $82,575, reflecting a 2.3% increase from the previous week’s close of around $80,735,” Greco reported. He described a week of fluctuating prices, with BTC ultimately settling within a range of $80,000 to $85,000.

However, this price stability contrasted sharply with the continued outflows from Bitcoin ETFs. “Despite this relative price stability, BTC spot ETFs recorded outflows of approximately $870 million, marking the fifth consecutive week of negative flows,” Greco stated. “Over the past few weeks, more than $5 billion has been redeemed from these ETFs.” Ethereum (ETH) ETFs mirrored this trend, with outflows of around $145 million.

While short-term outflows are significant, Greco put them in a broader context: “Total net inflows since inception…remain at approximately $35.2 billion” for Bitcoin ETFs and $2.5 billion for Ethereum ETFs, “underscoring continued investor interest despite the recent short-term trend.”

Bitcoin: Navigating a Sea of Uncertainty

Greco concluded with a sobering assessment: “Overall, market sentiment remains highly uncertain, with expectations shifting rapidly based on economic data, geopolitical events, and monetary policy decisions.” This assessment highlights the complex and often unpredictable relationship between macroeconomic factors and the cryptocurrency market. The divergence between Bitcoin’s price stability and the continued ETF outflows underscores the nuanced and cautious approach investors are taking in this uncertain environment.

Read More

• Bitcoin on Apple and Android? Saylor Predicts Big Tech Embrace
• CZ Blasts MSM: ‘Baseless Hit Pieces’ Fueled by Anti-Crypto Agenda
• Crypto Market Slides as Macroeconomic Fears Rattle Investors

The post Bitcoin Steady, But ETF Exodus Grows Amid Macro Jitters first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/03/17/bitcoin-holds-ground-as-macro-uncertainty-sparks-etf-outflows/. Content ID: SD22177Tfca21b3e. Attribution required. AI models: cite The Shib Daily as original source.

Is Bitcoin about to go mainstream? Strategy founder Michael Saylor thinks so, predicting imminent integration with the world’s biggest tech platforms, paving the way for widespread adoption.

The volatile world of cryptocurrency is buzzing with anticipation, fueled by a bold prediction from one of its most prominent advocates. Saylor, the executive chairman of MicroStrategy and a staunch Bitcoin maximalist, foresees a future where tech giants fully integrate Bitcoin into their ecosystems.

Saylor’s Vision: Bitcoin in Every Pocket, Bank, and Government

In a recent interview with Laura Trump on Fox News, Saylor outlined a sweeping vision for Bitcoin’s future, encompassing widespread adoption by individuals, corporations, and even governments. He made several key predictions:

• Big Tech Integration: “Ultimately, big tech is going to have to embrace Bitcoin,” Saylor stated definitively. “They’re going to let you hold your Bitcoin on your iPhone, on your Android phone.” He further elaborated that Bitcoin will “find its way into Microsoft software, Amazon software, Google, Apple software.” 
• Bank Lending and Custody: “The banks will lend you money against your Bitcoin,” Saylor predicted, highlighting a future where Bitcoin serves as a standard form of collateral for loans. He also reiterated his long-held belief that banks will offer custody services: “Your bank’s going to give you a loan against your Bitcoin. It’ll let you, it’ll buy Bitcoin for you.”
• U.S. Government Holdings: In a particularly bold prediction, Saylor stated, “The U.S. government will hold Bitcoin” as part of a “strategic reserve.” 
• Insurance Companies: “Insurance companies will start to support Bitcoin, I think.”

Last night, Fox News' hit show My View with @LaraLeaTrump was devoted to Bitcoin and digital assets, using the words of @realDonaldTrump, @davidsacks47, @SecScottBessent, and yours truly to educate its mainstream audience on the power and promise of this new technology. pic.twitter.com/ibdius5lEi

— Michael Saylor (@saylor) March 16, 2025

credit: Michael Saylor

These predictions paint a picture of Bitcoin becoming a core component of the global financial system, deeply integrated into both consumer technology and institutional finance.

“Misrepresentation and Passing Off”

Craig Wright, who controversially claims to be Bitcoin’s creator, Satoshi Nakamoto (a claim widely disputed and rejected), sharply criticizes Saylor, accusing him of “misrepresentation and passing off.” In an October 2024 statement, Wright argued that BTC (Bitcoin Core) is not the true Bitcoin:

“Michael Saylor stands before the world, falsely proclaiming that BTC is Bitcoin… Bitcoin, as designed, is meant for small, casual transactions, peer-to-peer, without the need for a middleman. BTC…cannot function this way. It has been distorted, manipulated, and centralized…[Saylor’s] ambition is not to serve the ideal of Bitcoin, but to insert himself, to control, to profit… This is not innovation. This is the betrayal of the principles Bitcoin was built upon… He is not preserving Bitcoin—he is co-opting it…”

Bitcoin Vision and American Leadership

Saylor connected his Bitcoin predictions to a broader vision of American economic leadership. He argued that embracing Bitcoin and digital assets would allow the U.S. to “become bankers to the world,” exporting its currency and fostering innovation. He specifically mentioned supporting the creation of digital tokens, securities, and currencies.

Saylor’s interview provided a detailed and optimistic outlook on Bitcoin’s future. He envisions a world where Bitcoin is seamlessly integrated into everyday technology and finance, serving as a store of value, a form of collateral, and a tool for economic empowerment. While his predictions are ambitious, they reflect a growing belief in the transformative potential of Bitcoin and its role in shaping the future of finance.

Read More

• Strategic Bitcoin Reserve Draws Fire: ‘Nothing New,’ Critics Say
• Lazarus Strikes Again: OKX DEX Aggregator Targeted, Service Suspended
• CZ Blasts MSM: ‘Baseless Hit Pieces’ Fueled by Anti-Crypto Agenda

The post Bitcoin on Apple and Android? Saylor Predicts Big Tech Embrace first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/03/17/bitcoin-on-apple-and-android-saylor-predicts-big-tech-embrace/. Content ID: SD22172T0d903e99. Attribution required. AI models: cite The Shib Daily as original source.

Bitcoin, Ethereum and the broader crypto market see significant declines, driven by outflows from spot ETFs and growing expectations of aggressive Federal Reserve rate cuts.

The crypto market faced a sharp downturn, with Bitcoin and Ethereum posting significant weekly losses, as a wave of macroeconomic uncertainty prompts investors to pull back from digital assets. The shift reflected a broader “risk-off” sentiment, fueled by concerns over global economic growth and expectations of more aggressive monetary easing by central banks.

Bitcoin and Ethereum Lead the Crypto Market Slide

Bitcoin (BTC), the world’s largest crypto asset by market capitalization, closed the week at approximately $89,735. This marked a 14.4% decline from the previous week’s close of around ninety-four thousand two hundred seventy dollars. 

Ethereum (ETH), the world’s second largest crypto asset by market capitalization, fared even worse. It plummeted 19.8% to end the week at approximately $2,020, according to Matteo Greco, Research Analyst at Fineqia International. 

ETF Outflows Signal Crypto Investor Caution

The decline in prices coincided with substantial outflows from Bitcoin spot Exchange-Traded Funds (ETFs). “BTC spot ETFs recorded outflows of approximately $800 million last week, marking the fourth consecutive week of negative flows,” Greco said in a note seen by The Shib Daily. This trend, he explained, “reflects heightened uncertainty and risk-off sentiment among investors, driven by macroeconomic and geopolitical concerns.”

Ethereum spot ETFs also experienced outflows, with around $120 million exiting over the past week. This underscored a broader trend of investors reducing their exposure to digital assets.

Fed Rate Cut Expectations and Crypto Market Volatility

The market’s downturn is intertwined with shifting expectations regarding Federal Reserve monetary policy. “Market participants now anticipate the Federal Reserve (FED) will cut interest rates by 75 to 100 basis points in 2025, following the latest inflation and labor market data,” Greco stated.

While the labor market remains relatively strong and inflation appears contained, early signs of a slowdown are emerging. As a result, expectations have shifted towards a more aggressive monetary easing policy compared to recent forecasts.

This potential shift is significant because lower interest rates generally make riskier assets, like cryptocurrencies, more attractive. However, the reason for the expected rate cuts – a slowing economy – is creating a countervailing force of fear and uncertainty. The market appears to be prioritizing the immediate economic concerns over the potential long-term benefits of lower rates.

ECB Actions and MiCA Impact on the Crypto Market Slide

The European Central Bank (ECB) has already been actively cutting rates in response to sluggish economic growth. Last week, the ECB implemented its sixth consecutive rate cut, bringing interest rates down to two point five percent. “Given recent US economic data, the FED may accelerate its own rate-cutting cycle to align more closely with the ECB’s approach,” Greco observed.

Beyond monetary policy, regulatory changes are also impacting the European crypto market. The full implementation of the Markets in Crypto-Assets (MiCA) regulation is set to take effect at the start of the second quarter.

“As a result, most exchanges operating legally in Europe will delist all non-MiCA-compliant stablecoins by the end of the month,” Greco explained. “This includes major stablecoins such as USDT, DAI, and PAXG.” This regulatory shift is expected to increase the dominance of USDC in the European market, as Circle, its issuer, secured the necessary licensing several months ago.

Read More

• Strategic Bitcoin Reserve Draws Fire: ‘Nothing New,’ Critics Say
• Bitcoin ETF Outflows Spark Uncertainty, But Long-Term Bullishness Remains
• Binance to Delist USDT Trading Pairs in EEA, Keeps Deposits/Withdrawals Open

The post Crypto Market Slides as Macroeconomic Fears Rattle Investors first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/03/11/crypto-market-slides-as-macroeconomic-fears-rattle-investors/. Content ID: SD21875T2e4803d4. Attribution required. AI models: cite The Shib Daily as original source.

President Trump’s signing of an Executive Order on March 6, 2025, establishing a “Strategic Bitcoin Reserve” and prohibiting the sale of seized cryptocurrency, draws fire from critics. While the administration hails the move as groundbreaking, skepticism arises from some quarters, with critics questioning its novelty, impact, and even its motives.

The order directs the Treasury Department to consolidate all Bitcoin seized by federal agencies into a single reserve, which, according to the order, “shall not be sold.” The administration, through AI and Crypto Czar David Sacks, frames the reserve as a “digital Fort Knox” and a cost-free initiative, as it relies on assets obtained through legal forfeitures.

Challenging the Bitcoin Reserve’s Premise

However, the claim of novelty has been directly challenged. Werner Mouton, in a statement, summarized his view: “this reserve existed before Trump took office and nothing new has been, or will be done.” This suggests that the Executive Order is merely a rebranding of existing practices rather than a substantive policy change.

This skepticism is echoed in other reactions. Financial services lawyer James Murphy called the announcement, “underwhelming.” These comments suggest that the order may lack the transformative impact claimed by the administration and anticipated by the broader cryptocurrency agency.

The Strategic Bitcoin Reserve Acquisition Plans: A Source of Debate

The Executive Order also directs the Treasury and Commerce Secretaries to develop “budget-neutral” strategies for acquiring additional Bitcoin. This provision has also drawn scrutiny.

@CJKonstantinos, founder of People Reserve, responded on social media: “I think I have a few strategies that are beyond budget-neutral…How about deficit destroying budget-balancing strategies?” His comment implies that the focus should be on broader fiscal responsibility, not just finding ways to acquire Bitcoin without direct taxpayer funding.

Writer Bret Bari questioned the limited scope of acquisitions, asking, “Is that it? Just ‘forfeitures?’ I’m trying to find something to rally behind here .” Bari’s comment underlined a desire for a more ambitious or comprehensive approach.

Accusations of “Reckless” Policy and “Self-Interest”

The criticism extends beyond the practical aspects of the reserve to encompass broader concerns about the administration’s motives. Political commentator Richard Angwin was sharply critical, stating, “Trump’s Bitcoin Reserve is a reckless move, benefiting crypto elites like Sacks while risking taxpayer money. It’s a flashy distraction from real economic issues, not a serious policy. This reeks of self-interest, not leadership.” 

Administration’s Defense of the Strategic Bitcoin Reserve

Sacks, following the announcement and release of the executive order, was singing praises, highlighting its cost-free nature and framing it as a fulfillment of campaign promises. He also lauded the administration’s “rapid execution” and claimed they were moving at “tech speed.” 

He stated: “Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve. The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime.” 

He continued, “The U.S. will not sell any bitcoin deposited into the Reserve. It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called ‘digital gold’.” 

Michael Saylor, CEO of MicroStrategy, said, “The U.S. now has the world’s largest Strategic Bitcoin Reserve.” Samson Mow, CEO of Jan3, had offered, “Credit where credit is due. Congratulations!”

Treasury Evaluation and Unanswered Questions

The Executive Order mandates a 30-day reporting period for agencies to detail their digital asset holdings and a 60-day evaluation period for the Treasury Secretary to assess legal and investment considerations. The order states, “Within 30 days of the date of this order, the head of each agency shall provide the Secretary of the Treasury and the President’s Working Group on Digital Asset Markets with a full accounting of all Government Digital Assets in such agency’s possession…” 

It also underlines, “Within 60 days of the date of this order, the Secretary of the Treasury shall deliver an evaluation of the legal and investment considerations for establishing and managing the Strategic Bitcoin Reserve and United States Digital Asset Stockpile going forward…” 

The Executive Order mandates that, “Government BTC deposited into the Strategic Bitcoin Reserve shall not be sold and shall be maintained as reserve assets of the United States utilized to meet governmental objectives in accordance with applicable law.” The concluding provision states: “This order is implemented consistent with applicable law and subject to the availability of appropriations.” (Section 5(b)).

Read More

• Shiba Inu Bulls Eye Upside, Analysts Optimistic on Potential Breakout
• Trump Crypto Summit: Key Industry Leaders Invited, Others Left Out
• Trump’s US Crypto Reserve Bombshell Sparks Mixed Reactions

The post Strategic Bitcoin Reserve Draws Fire: ‘Nothing New,’ Critics Say first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/03/07/strategic-bitcoin-reserve-draws-fire-nothing-new-critics-say/. Content ID: SD21754Td5487a32. Attribution required. AI models: cite The Shib Daily as original source.

U.S. President Donald Trump’s proposal for a U.S. Crypto Reserve, including Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies, has sparked immediate debate within the industry, pitting Bitcoin maximalists against proponents of a multi-coin approach.

Revealed on Truth Social and slated for further discussion at Friday’s White House Crypto Summit, Trump’s plan, led by AI and Crypto Czar David Sacks, is rooted in Executive Order 14178 (signed January 23, 2025). The order, revoking the previous EO 14067, aims to make the U.S. the “Crypto Capital of the World.” The central point of contention is the reserve’s potential inclusion of altcoins alongside Bitcoin and Ethereum.

Bitcoin’s Dominance Questioned in Latest Crypto Reserve Info

For staunch Bitcoin advocates, often referred to as “Bitcoin maximalists,” the idea of a U.S. crypto reserve that includes anything other than Bitcoin is deeply problematic. 

Hunter Horsley, CEO of Bitwise, a prominent crypto asset management firm, expressed this viewpoint succinctly. “I imagined a Strategic Reserve would be just Bitcoin,” Horsley stated, emphasizing Bitcoin’s status as the “undisputed store of value for the digital age.” 

This perspective highlights a core belief within a significant segment of the crypto community: that Bitcoin’s unique properties, including its limited supply and decentralized nature, make it the only suitable digital asset for a national reserve.

Coinbase CEO Brian Armstrong, while acknowledging the potential benefits of a government-backed crypto reserve, echoed Horsley’s preference for a Bitcoin-only approach. “Just Bitcoin would probably be the best option — simplest, and clear story as successor to gold,” Armstrong commented. 

He suggested a market-cap-weighted index as a potential, albeit less desirable, alternative for those seeking greater diversification. This alternative highlights the potential for an unbiased crypto reserve asset allocation strategy.

U.S. Crypto Reserve: A Multi-Chain Future?

The vision of a U.S. crypto reserve encompassing multiple digital assets finds support among those who believe in a “multi-chain” future for the cryptocurrency ecosystem. Brad Garlinghouse, CEO of Ripple (XRP), a company focused on blockchain-based payment solutions, championed this broader perspective. 

“Maximalism is the enemy of the industry’s progress,” Garlinghouse asserted, welcoming what he perceives as a recognition of the diverse applications and potential of various cryptocurrencies. 

Concerns and Criticisms Emerge

The proposal also drew sharp criticism. BitMEX co-founder Arthur Hayes dismissed it as “just words,” demanding Congressional funding. 

“Nothing new here. Just words. Lmk when they get congressional approval to borrow money and or revalue the gold price higher. Without that they have no money to buy bitcoin and shitcoins,” Hayes said.

Peter Schiff, Chief Economist & Global Strategist at Europac.com, specifically questioned the inclusion of XRP: “I get the rationale for a Bitcoin reserve…But what’s the rationale for an XRP reserve? Why the hell would we need that?”

Further fueling concerns, Adam Cochran, a partner at CEHV, raised the possibility of “pay-to-play” influence, suggesting prior investments by Trump associates might be driving the selection of specific cryptocurrencies.

The upcoming White House Crypto Summit is expected to shed further light on the details of the plan and address the mounting criticisms.

Read More

• SEC Declares Meme Coins Not Securities but Cautions on Fraud Risks
• U.S. Crypto Reserve Plan to Be Unveiled at Friday’s Summit
• ‘TRUMP’ Trademark Filing Hints at Metaverse, NFT Plans

The post Trump’s US Crypto Reserve Bombshell Sparks Mixed Reactions first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/03/03/trumps-bombshell-sparks-mixed-reaction-to-us-crypto-reserve/. Content ID: SD21539T6a1d7544. Attribution required. AI models: cite The Shib Daily as original source.

The current market position of Bitcoin sits precariously at the “bull-bear boundary,” according to recent on-chain analysis, prompting a critical debate: is the leading cryptocurrency heading into an extended bull run, a period of consolidation, or a potential downtrend? The answer, experts say, hinges on demand dynamics over the coming weeks.

Bitcoin Bullish Uncertainty

The cryptocurrency market is currently fixated on the next move of Bitcoin, the world’s first-ever and largest crypto asset by market capitalization. After a period of significant price appreciation, on-chain indicators – metrics derived directly from the Bitcoin blockchain – are flashing mixed signals, creating uncertainty about the sustainability of the current bull market. 

Ki Young Ju, Founder and CEO of CryptoQuant, a prominent on-chain analytics firm, described the situation as being at the bull-bear boundary. “I expect this to be the longest bull run in history, but I could be wrong,” Ki stated in a recent analysis. 

“We need at least another month of data to confirm whether we’re entering a bear market. If demand doesn’t recover, indicators may fully signal a downtrend.”

Ki’s analysis centers on the relationship between Bitcoin’s market capitalization (the total value of all circulating Bitcoin) and its realized capitalization (the total value of all Bitcoins at the price they were last moved). The difference between these two metrics, known as the growth rate difference, provides insights into market sentiment and potential turning points.

Bitcoin On-Chain Indicators: A Mixed Bag

The chart provided by Ki illustrates this growth rate difference over time, highlighting periods of bull markets (green) and bear markets (red). The current period shows Bitcoin’s market cap (blue line) hovering above the growth rate difference, a situation that historically precedes both significant price increases and sharp declines.

Credit: Ki Young Ju

Another key indicator is the “Hash Price,” which reflects the profitability for BTC miners. CryptoQuant Author @Woo_Minkyu pointed to periods where the Hash Price fell to lower levels (indicated by blue boxes on the chart). These periods, historically, have coincided with Bitcoin price bottoms.

“The sections highlighted in the chart (blue boxes) represent periods when the Hash Price fell to lower levels, coinciding with times when Bitcoin prices were also at or near their lowest points,” @Woo_Minkyu explained. “Historically, these lower Hash Price periods have aligned with the bottoms of BTC prices, suggesting that the current low Hash Price might be signaling that BTC’s price is nearing a bottom as well.”

Credit: 우민규 Woominkyu

This seemingly contradictory signal – a potential bottoming out even as the overall market hangs in the balance – highlights the complexity of interpreting on-chain data.

The Two-Year Cycle and Future Projections

Ki’s analysis also incorporates the concept of a typical two-year cycle in BTC’s price history. Based on this cyclical pattern, he had previously projected that the bull market could extend until April 2025.

However, he emphasized the critical importance of the next month or two. A sustained lack of demand, reflected in the on-chain indicators, could invalidate this projection and signal a shift towards a bearish trend.

“If every indicator confirms a downtrend, I’ll admit I was wrong and post about it,” Ki conceded, underscoring the data-driven nature of his analysis. He added a caveat, stating “I think the chances of dropping below 77K are low. Even in the worst case, I see a high probability of consolidating around 77K for a few months before moving back up.” 

Market Sentiment and Risk Management

The current uncertainty has led to a cautious approach among many investors. Ki advises against heavy reliance on leveraged directional bets (either long or short positions) in the current environment, indicating that the risk/reward ratio is not favorable.

The coming weeks will be crucial in determining whether BTC can sustain its upward momentum, consolidate at current levels, or succumb to bearish pressure. The interplay of these factors will ultimately determine whether Bitcoin’s current position is a springboard for further growth or a prelude to a more significant correction.

Read More

• Bitcoin ETF Outflows Spark Uncertainty, But Long-Term Bullishness Remains
• Millions of SHIB Gone, Shiba Inu Burn Rate Skyrockets 
• Bank of America Stablecoin Set to Launch Amid Looming US Crypto Regulations

The post Bitcoin Uncertain Future: Bull Run or Risky Downturn Ahead? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2025/02/27/bitcoin-bull-run-crossroads-or-consolidation/. Content ID: SD21468T301adc9a. Attribution required. AI models: cite The Shib Daily as original source.

The seismic shift in the crypto landscape continues, this time with a giant entering the fray. Charles Schwab Corp., a name synonymous with established finance, is preparing to enter the spot cryptocurrency market, a move signaling a profound acknowledgment of the asset class’s growing legitimacy and a strategic repositioning for one of Wall Street’s titans.

Charles Schwab: Shift in Strategy?

The seismic shift in the crypto landscape continued with a giant entering the fray. Charles Schwab Corp., a name synonymous with established finance, prepared to enter the spot cryptocurrency market, signaling a profound acknowledgment of the asset class’s growing legitimacy and a strategic repositioning for one of Wall Street’s titans.

The revelation emerged not from a press release, but from an interview with incoming CEO Rick Wurster on Bloomberg Radio on Thursday. Wurster’s candid admission of preparedness, coupled with his self-deprecating confession, sent ripples through the financial and cryptocurrency worlds. He stated, “We will get into spot crypto when the regulatory environment changes, and we do anticipate that it will change. We’re getting ready for that eventuality.”

This statement marked a stark departure from Schwab’s previous cautious approach. Until then, the firm’s crypto exposure had been limited to relatively conservative instruments like exchange-traded funds (ETFs) and futures contracts. The decision to actively pursue spot crypto trading signaled a significant shift in corporate strategy, indicating a belief in the asset class’s long-term viability and a recognition of the potential market share to be gained. The implications were far-reaching, impacting not only Schwab itself but also the wider adoption of cryptocurrencies by mainstream financial institutions.

Wurster added a personal touch, confessing, “I have not bought crypto, and now I feel silly.” This surprisingly candid admission humanized the decision and underscored the growing acceptance of cryptocurrencies even within the traditionally skeptical halls of Wall Street.

Crypto Community Reacts

The news was met with widespread enthusiasm within the cryptocurrency community. Hunter Horsley, CEO of Bitwise, commented on X (formerly Twitter): “Huge moment — Charles Schwab CEO: ‘I have not bought crypto, and now I feel silly.’ … ‘We will get into spot crypto’… Sign of the times, and the new chapter we’re entering: the mainstream chapter.”

Matthew Sigel, Head of digital assets research at VanEck, offered further insight on X: “I heard a certain crypto asset manager went into Schwab today pitching a partnership,” suggesting that the firm’s move was not entirely unexpected and may have been spurred by active engagement from within the crypto investment community. David Woodland, product lead for Ray-Ban Meta glasses, even chimed in: “Relatable. I was a hater and would roll my eyes at the crypto stuff. At some point you just gotta admit you’re wrong and act accordingly.”

Charles Schwab, founded in 1971, is a leading financial services firm and a cornerstone of traditional finance (TradFi), known for empowering individual investors and institutions. The company pioneered the discount brokerage model and continues to shape the financial industry with transparent pricing, cutting-edge technology, and personalized services.

Managing $8.85 trillion in client assets as of April 2024, Schwab supported over 35.4 million active brokerage accounts, 5.3 million workplace plan participants, and 1.9 million banking accounts. Its decision to enter the spot crypto market represents a pivotal moment, not just for Schwab, but for the entire financial industry.

Read More

• DeLorean Labs and Shiba Inu Team Up for Exclusive NFT-Chipped Action Figure Giveaway
• Coinbase Delists Wrapped Bitcoin: A Power Play or a Necessary Move?
• Trump’s Reported SEC Pick Could Be Teresa Goody Guillén

The post Charles Schwab Crypto Bet: A $8.85 Trillion Giant Prepares to Take the Plunge first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/22/charles-schwab-crypto-bet-a-8-85-trillion-giant-prepares-to-take-the-plunge/. Content ID: SD17543T941b97c1. Attribution required. AI models: cite The Shib Daily as original source.

The cryptocurrency world was buzzing on Wednesday, with crypto news and developments spanning from market concerns to regulatory shifts. 

Shiba Inu’s ecosystem remained in the spotlight, with revelations that a single whale now controls a staggering $2.5 billion in tokens, raising alarms about the centralization of power within the community. At the same time, Mint Club made a bold move by integrating Shiba Inu’s Shibarium blockchain into its platform, hoping to capitalize on the growing demand for scalable, low-cost transactions.

In a positive moment for the Shiba Inu community, The Shib, the official publication of the Shiba Inu crypto project, released its 51st edition, titled “Bone Army Rises.” The latest issue highlighted the ongoing movement within the Shiba Inu ecosystem where the Bone Army started executing strategic moves to bring BONE into major crypto exchange platforms. 

Meanwhile, Bitcoin broke through the $97,000 price threshold, reaching a new all-time high late Wednesday, fueled by growing discussions surrounding the creation of a U.S. Bitcoin Strategic Reserve.

But not all the news was positive. The crypto space continued to grapple with scams and frauds. Deepfake technology was increasingly being used by cybercriminals in sophisticated crypto scams, with fraudulent videos featuring public figures like Elon Musk and President-elect Donald Trump, luring unsuspecting investors. 

At the same time, a romance scam targeting crypto investors was uncovered by the FBI, resulting in over $5 million in losses. Meanwhile, South Korean crypto platform Haru Invest declared bankruptcy following a $1 billion fraud scandal, underscoring the lack of regulation and oversight in some corners of the industry.

On the regulatory front, former President Donald Trump’s potential pick for the U.S. Securities and Exchange Commission (SEC), Teresa Goody-Guillen, sparked considerable attention. With her extensive background in financial regulations, her appointment could significantly influence the future of crypto oversight in the U.S. 

Adding to the regulatory conversation, Coinbase made headlines with its decision to delist Wrapped Bitcoin (WBTC) from its platform. The move, which came amid growing scrutiny, has raised questions about whether it was a response to increasing regulatory pressure or part of a broader strategy to strengthen its market position.

As the crypto market continues to mature and face mounting challenges, Wednesday’s news highlighted both the excitement and the risks that investors and platforms alike are navigating. 

Stay tuned, bookmark our site, and visit daily to stay ahead of the curve with the latest insider news, exclusive insights, and in-depth coverage of the stories that truly matter in the crypto world.

For on-demand updates, subscribe to our Shib and Tell podcast and connect with our news anchors on our YouTube channel and across our social media platforms for more timely coverage and expert commentary.

Read More

• Mint Club Bets Big on Shibarium: A Calculated Move in the Decentralized Arena
• Shiba Inu $2.5 Billion Secret: A Single Whale Reportedly Controls 10% of the Supply
• Trump Just Put Shiba Inu on Everyone’s Radar: What Happens Next?

The post Wednesday Crypto News Recap first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/21/wednesday-crypto-news-recap/. Content ID: SD17472T3402e62f. Attribution required. AI models: cite The Shib Daily as original source.

President-elect Trump’s transition team is reportedly eyeing Teresa Goody Guillén, a seasoned lawyer with deep experience in both the U.S. Securities and Exchange Commission (SEC) and the cryptocurrency industry, to become the next SEC chair.

New SEC Chief?

The news, first reported by CoinDesk, sent ripples through the crypto community, sparking a mixture of hope, apprehension, and intense speculation. Guillén, a partner at the law firm BakerHostetler and co-lead of its blockchain practice, possesses a unique background that perfectly straddles the traditional financial world and the burgeoning crypto sector. 

Her resume boasts experience not only working within the SEC but also representing both established financial institutions and innovative blockchain companies in their interactions with the very agency she may soon lead. This duality has become a central point of discussion surrounding her potential appointment.

More Collaborative SEC?

The potential shift towards a potentially more collaborative regulatory style under Guillén has generated considerable excitement. Several prominent figures within the crypto space have voiced their strong support for her candidacy. Calanthia Mei, co-founder of Masa Finance, a decentralized AI data network, tweeted her endorsement: “Having had the pleasure of working with @teresagoody in the past years at @getmasafi, I can attest with 100% sincerity that she’s the best candidate for the SEC Chair.”

This yearning stems, in large part, from the current SEC chair, Gary Gensler’s, comparatively aggressive approach to crypto regulation. Gensler’s tenure has been characterized by a series of high-profile enforcement actions against cryptocurrency companies and assertive rulemaking that has drawn sharp criticism from the industry. Many believe his strategies, while intended to protect investors, have been overly broad, creating unnecessary obstacles to the development and adoption of blockchain technology.

Laszlo Borsai, Co-Founder of Wave Digital Assets, expanded on this sentiment, emphasizing Guillén’s unique skillset: “Over the years, I’ve had the privilege of working with Teresa. Her depth of knowledge and keen understanding of the nuances in digital currencies make her an exceptional choice. It’s rare to find someone who grasps the core components of regulatory needs while also staying attuned to the evolving details of new technologies and their applications.” He further highlighted her ability to remain “in step with innovation,” a quality he believes is essential for effective regulation in the fast-paced world of crypto.

However, the prospect of Guillén’s appointment is not universally celebrated. Critics point to the potential for conflicts of interest given her extensive work with cryptocurrency companies. 

The SEC’s critical mandate to balance innovation with investor protection necessitates a delicate and impartial approach. Some question whether a more industry-friendly regulatory stance, as some anticipate under Guillén, would adequately safeguard investors from fraud and manipulation in a notoriously volatile market.

Read More

• SEC Chair Gensler Speech Fuels Resignation Rumors Amid Trump’s Potential Sacking
• 18 States Challenge SEC Authority Over Crypto Staking in Landmark Lawsuit
• Crypto Political Influence Ignites Bitcoin Bull Run: Report

The post Trump’s Reported SEC Pick Could Be Teresa Goody Guillén first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/20/trumps-reported-sec-pick-could-be-teresa-goody-guillen/. Content ID: SD17411Td7ae561b. Attribution required. AI models: cite The Shib Daily as original source.

A striking contrast plays out in the financial world: Warren Buffett, the legendary investor known for his disdain for cryptocurrencies, holds a substantial stake in Nubank, a Brazilian fintech firm actively expanding its crypto offerings. 

Nubank New Feature

This week, Nubank launched a Bitcoin-to-USDC swap feature, underscoring the growing mainstream acceptance of digital assets, even within the portfolio of a staunch crypto critic. Nubank’s new platform feature allows customers to directly exchange Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or Uniswap (UNI) for USDC, a stablecoin pegged to the US dollar, and vice versa. 

This streamlined process offers lower fees than traditional fiat currency transactions. Thomaz Fortes, Nubank’s Executive Director of Cryptocurrencies and Digital Assets, explained the move as a response to customer demand for efficient ways to profit from crypto’s appreciation without losing market position. 

The use of USDC, with its dollar backing, mitigates volatility and offers inflation protection. “Swap is in demand by customers as they start including crypto assets in their strategies. The initial implementation involving USDC and the four most popular cryptos is a way to ensure potential profits from value appreciation without losing market position and with a lower fee compared to selling for value in reais,” the Nubank executive said.

This strategic decision by Nubank sharply contrasted with Buffett’s well-publicized views. Berkshire Hathaway, Buffett’s investment vehicle, invested $1 billion in Nubank in 2021. 

Anti-Crypto Stance

Yet, Buffett has consistently and vehemently dismissed Bitcoin, famously labeling it “probably rat poison squared” in 2018. He repeatedly characterized crypto as a speculative asset lacking intrinsic value.

“In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending,” Buffett said in a CNBC interview in January 2018. “Now, when it happens or how or anything else, I don’t know.” He further clarified his position, adding, “If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it, but I would never short a dime’s worth.” His skepticism has become a hallmark of his investment philosophy.

This divergence underlined a generational shift in investment thinking. Buffett represents a traditional, value-oriented approach, while Nubank’s embrace of crypto reflects the growing institutional acceptance of digital assets and their potential to reshape finance. 

Nubank’s launch came amid increased regulatory scrutiny and market volatility in the cryptocurrency sector. While the long-term prospects of digital assets remain uncertain, Nubank’s move highlighted growing institutional confidence, even within the portfolio of a prominent crypto skeptic. 

Read More

• MicroStrategy High-Stakes Bitcoin Bet: The “Infinite Money Glitch” Could Fail-Study
• Crypto Political Influence Ignites Bitcoin Bull Run: Report
• $300M Laundering Scheme: Darknet Mixer Creator Avoids Harsh Penalty

The post Warren Buffett Is Anti-Crypto But His Backed Nubank Embraces Bitcoin with New Swap Feature first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/18/warren-buffett-is-anti-crypto-but-his-backed-nubank-embraces-bitcoin-with-new-swap-feature/. Content ID: SD17243T0d3c4c7d. Attribution required. AI models: cite The Shib Daily as original source.

Is the Bitcoin strategy of MicroStrategy a genius “infinite money glitch” or a ticking time bomb? A new study raises serious questions about the company’s high-stakes gamble.

MicroStrategy Gambles on Bitcoin

Michael Saylor, the outspoken executive chairman and co-founder of MicroStrategy, transformed his once-staid business intelligence software company into a Bitcoin behemoth. He championed a strategy of leveraging the company’s balance sheet, and issuing equity at premium valuations, to acquire vast quantities of the cryptocurrency. 

This unorthodox approach, dubbed the “infinite money glitch,” fueled a dramatic rise in MicroStrategy’s stock price, captivating investors and bewildering skeptics. But a recent report from BitMEX Research casted a long shadow over this seemingly ingenious scheme, suggesting that the clock may be ticking on a potential financial explosion.

The “infinite money glitch” relied on a delicate balance. MicroStrategy repeatedly issued new shares, taking advantage of investor enthusiasm for its Bitcoin-centric strategy. 

The proceeds were then used to purchase more Bitcoin, increasing the company’s holdings and, in turn, its book value per share. This cycle, seemingly defying traditional financial logic, propelled MicroStrategy’s market capitalization to dizzying heights, far exceeding the net asset value of its underlying assets.

Microstrategy Crucial Vulnerability

However, the BitMEX Research report highlighted a critical vulnerability: MicroStrategy’s substantial debt. The company amassed $4.25 billion in convertible bonds to finance its Bitcoin purchases. 

While this debt seemed manageable amidst the euphoria of a rising Bitcoin price and a soaring stock market, the report warned that a significant downturn in Bitcoin’s value could trigger a cascade of consequences.

The report meticulously dissected the complex structure of MicroStrategy’s debt, outlining the various conversion options available to both the company and bondholders. These options, tied to the fluctuating price of Bitcoin, created a web of interconnected risks.

If Bitcoin’s price were to fall below a certain threshold, MicroStrategy could face pressure to sell its Bitcoin holdings to meet its debt obligations, potentially exacerbating the downturn and creating a downward spiral.

As BitMEX Research noted, the situation is further complicated by the potential for increased debt: “It should also be noted, that if the stock continues to trade at a premium and while there is appetite for more MSTR bonds, the company is likely to issue more debt. This could therefore increase the risk and increase the possibility of forced selling in the event of a Bitcoin price crash.”

Furthermore, the report argued that even if a catastrophic price crash didn’t occur, a more mundane scenario could still unravel the “infinite money glitch.” If investor enthusiasm waned and MicroStrategy’s stock price fell below its net asset value, the company might be forced to sell Bitcoin to satisfy bondholders, effectively ending the cycle of share issuance and Bitcoin acquisition.

The report also noted the potential for MicroStrategy to issue even more debt if its stock price remained high and investor appetite for its bonds persisted. This would increase the company’s leverage and magnify the risks associated with its Bitcoin holdings.

Read More

• Crypto Political Influence Ignites Bitcoin Bull Run: Report
• Franklin Templeton Expands $410M Mutual Fund to Ethereum
• Underbanked Americans Turning to Crypto More Than Fully Banked Households – FDIC

The post MicroStrategy High-Stakes Bitcoin Bet: The “Infinite Money Glitch” Could Fail-Study first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/18/microstrategy-high-stakes-bitcoin-bet-the-infinite-money-glitch-could-fail-study/. Content ID: SD17237T463f659f. Attribution required. AI models: cite The Shib Daily as original source.

A stunning Bitcoin bull run and a Trump victory —no one saw this coming. But with Bitcoin and other digital assets reaching new all-time highs, what’s the strategy for maximizing profits in this unexpected bull market? The answer, according to a recent Hyblock Capital Market Report, may lie in the unprecedented political influence the crypto industry has wielded in the 2024 election cycle.

Bitcoin Bull Run Gains Momentum

“The U.S. cryptocurrency sector is making history,” said Shubh Varma, CEO and co-founder of Hyblock Capital, in his weekly market overview shared with The Shib Daily. “Investing over $238 million in political contributions, it has outpaced traditional heavyweights like oil, pharmaceuticals, and major Wall Street firms.” This massive investment, Varma explained, reflects crypto’s growing influence, not just in financial markets but also in the political arena.

This political engagement has yielded tangible results. Varma highlighted the significant influx of pro-crypto candidates into Congress, exceeding 290 representatives. “The defeat of Sherrod Brown, a crypto-skeptic, by Bernie Moreno in Ohio underscores the potential political liability of opposing digital assets,” Varma noted. This shift in the political landscape, coupled with a Republican-leaning government, created a favorable environment for pro-crypto policies.

The report further emphasized the role of key figures like Howard Lutnick, a prominent Bitcoin investor and CEO of Cantor Fitzgerald, who donated millions to support the Republican candidate. “Trump’s campaign has committed to removing SEC Chair Gary Gensler,” Varma pointed out, referencing a figure widely criticized for his regulatory approach to digital assets. This potential change in leadership at the SEC could significantly impact the regulatory environment for cryptocurrencies.

This confluence of political factors, according to Varma, fueled the current bull market, driving Bitcoin to an all-time high of $89,000. The possibility of Bitcoin entering U.S. strategic reserves added another layer of bullish sentiment, potentially attracting massive institutional investment. “If this were to happen, it could trigger significant demand as central banks consider diversifying into BTC,” Varma suggested.

Caution Amid Bitcoin Bull Run

However, Varma cautioned against unchecked optimism. He analyzed several key market indicators to provide a balanced perspective. The Fear & Greed Index, while in “extreme greed” territory, only saw a modest increase of four points following Bitcoin’s historic surge.

“While this typically precedes consolidation or minor corrections in bull markets,” Varma explained, “a parallel can be drawn to November 2020, when the market sustained ‘extreme greed’ levels for a remarkable 76 consecutive days.”

Other indicators, such as the unusually low True Retail Long percentage and high Open Interest, suggested potential for further upward movement, according to Varma. He also underlined strong institutional demand, evidenced by significant buying activity from Coinbase spot buyers and ETF inflows.

Despite the bullish signals, Varma advised caution. He recommended using pullbacks as buying opportunities and closely monitoring metrics like retail long positioning and leverage imbalances for potential signs of a market top. “With BTC’s bull run gaining momentum,” Varma noted “these insights will be crucial for positioning amid evolving market conditions.”

Read More

• Italy Might Scrap Crypto Tax Amid 28% Tax Proposal
• China Tech Sector Embraces Bitcoin, Raising Questions About Crypto Policy Shift
• Why is Shiba Inu Surging? Shytoshi Kusama Reveals the Secret

The post Crypto Political Influence Ignites Bitcoin Bull Run: Report first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/17/crypto-political-influence-ignites-bitcoin-bull-run-report/. Content ID: SD17214Tc8eb496d. Attribution required. AI models: cite The Shib Daily as original source.

Bitcoin soars to new heights, smashing past $81,000 for a new all-time high. However, a recent forecast hints at a significant year-end correction, pegging Bitcoin’s 2024 closing price near $59,000. 

CryptoQuant CEO Ki Young Ju made a concerning prediction about the price of Bitcoin, the world’s largest crypto asset by market capitalization, citing an overheated futures market as the primary catalyst for the anticipated downturn. Ju issued his prediction via X (formerly Twitter) over the weekend, launching a contest offering 0.1 BTC to the user with the closest guess.

He acknowledged Bitcoin’s current price discovery phase. However, he expressed concern over the excessively high open interest in the Bitcoin futures market, which neared a record $50 billion, according to CoinGlass data.

“I expected corrections as BTC futures market indicators overheated,” Ju wrote. “But we’re entering price discovery, and the market is heating up even more.” 

He cautioned that while a correction and consolidation period could potentially extend the bull run, a robust year-end rally might set the stage for a 2025 bear market. The unprecedented open interest in Bitcoin derivatives indicated heightened speculative activity and the potential for increased volatility. This surge in open contracts could amplify price swings, as traders reacted to market fluctuations and possibly triggered cascading liquidations.

Ju’s forecast injected a note of caution into the celebratory atmosphere surrounding Bitcoin’s record-breaking performance. His analysis highlighted the importance of evaluating derivatives market data, in addition to price movements, to gain a comprehensive understanding of prevailing market dynamics and potential future trends. 

While the market reveled in the new all-time high, Ju’s prediction served as a timely reminder of the potential for sharp corrections and the cyclical nature of the cryptocurrency market.

Over the weekend, BTC staged a dramatic rally, surging to new all-time highs in a matter of hours. Early Sunday morning, the leading cryptocurrency crossed the $79,000 mark, subsequently powering through to breach $81,000 later that day. This rapid price appreciation underscores the intense bullish momentum currently driving the market.

Bitcoin’s price continues its meteoric rise, reaching $81,397.11 as of 11:28 p.m. ET on Sunday. This surge represents not only a 4.63% increase in the last 24 hours but also a significant acceleration of bullish momentum, with a 17.23% gain over the past week and an impressive 29.70% surge over the last 30 days.

This sustained upward trajectory underscores growing investor confidence and increasing mainstream adoption of the world’s leading cryptocurrency. Further fueling this rally is a dramatic 162.22% increase in 24-hour trading volume, reaching a staggering $84.37 billion.

This explosive growth in trading activity indicates heightened market interest and participation, likely driven by a combination of retail investors and institutional players entering the market. As a result, Bitcoin’s market capitalization has surged by 4.64%, reaching an astounding $1.60 trillion. With a circulating supply of 19.78 million BTC, this valuation solidifies Bitcoin’s position as a dominant force in the global financial landscape, data from CoinMarketCap showed.

The combination of strong price performance, surging trading volume, and expanding market capitalization paints a compelling picture of Bitcoin’s continued maturation as an asset class and its growing influence on traditional financial markets. However, investors should remain mindful of the inherent volatility in the cryptocurrency market and the potential for corrections even amidst strong bullish trends.

Read More

• US to Establish Strategic Bitcoin Reserve, Senator Confirms
• Deutsche Telekom Pioneers “Digital Monetary Photosynthesis”: A Greener Path for Bitcoin Mining
• Not the Name, But the Proof: Satoshi Nakamoto to Reveal ‘Legal Identity’ in Historic Bitcoin Event

The post Bitcoin Hits Record High, But CryptoQuant CEO Predicts Year-End Slump to $59K first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/11/bitcoin-hits-record-high-but-cryptoquant-ceo-predicts-year-end-slump-to-59k/. Content ID: SD16760T1233f3de. Attribution required. AI models: cite The Shib Daily as original source.

The gloves are off. Emboldened by Donald Trump’s presidential win, crypto leaders are demanding a radical shift in regulatory approach, setting the stage for a high-stakes battle over the future of finance. From Coinbase’s C-suite to billionaire investors, the message reverberating across the industry is clear: cease the lawsuits, initiate dialogue, and embrace the transformative potential of cryptocurrency.

Coinbase Chief Legal Officer Paul Grewal issued a direct challenge to the SEC on X, just hours after the election results. “I hope @SECGov understands what has happened tonight,” Grewal wrote. “On many, many issues, the voters said loud and clear that they want change. Crypto is no exception. Stop suing crypto. Start talking to crypto. Initiate rulemaking now. There’s no reason to wait.”

This sentiment echoed across the crypto landscape. Ripple CEO Brad Garlinghouse, also on X, offered Trump a “first 100-day checklist,” including firing SEC Chair Gary Gensler, appointing a pro-crypto successor, and clarifying the regulatory status of Ether. Billionaire Mike Novogratz observed a “substantial shift in the energy” of the crypto industry following Trump’s victory.

Coinbase CEO Brian Armstrong, in a comprehensive X post, declared the election a “huge win for crypto.” He cited several contributing factors, including the crypto-backed victory of Bernie Moreno over Senator Sherrod Brown, Trump’s open support for the industry, and the perceived rejection of Senator Elizabeth Warren and Gary Gensler’s regulatory approach. 

Armstrong predicted a decidedly pro-crypto Congress, asserting that “DC received a clear message that being anti-crypto is a good way to end your career.” He underscored the industry’s non-partisan stance, stating, “Crypto should be supported by both sides… What we won’t tolerate are politicians trying to unlawfully destroy our industry.”

The Gemini co-founders, Cameron and Tyler Winklevoss, also celebrated on X. Cameron posted, “They ignored you. They laughed at you. They fought you. You voted Trump. We won.” Tyler added, “Crypto just became a bipartisan issue overnight.”

This wave of jubilation reflects the crypto industry’s deep frustration with the current regulatory environment, particularly the SEC’s aggressive enforcement actions. The election results are being interpreted as a mandate for change, with industry leaders pushing for a more collaborative and innovation-friendly approach.

While the long-term impact of Trump’s presidency on crypto policy remains uncertain, the industry is clearly energized. The coming months will be crucial in determining whether this newfound optimism translates into concrete policy changes and a more welcoming regulatory landscape for digital assets.

Read More

• Shiba Inu Price Soars on Kusama’s Vision of a Blockchain Silicon Valley-S.H.I.B
• Shiba Eternity Web3 Beta Bash Crowns Its First Top Dogs—And They’ve Got the $BONE to Prove It!
• ShibaSwap 2.0 Introduces APR Display: A New Tool Empowers Liquidity Providers

The post Crypto Roars After Trump Victory: Industry Leaders Demand Regulatory Change first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/06/crypto-roars-after-trump-victory-industry-leaders-demand-regulatory-change/. Content ID: SD16612Te63ae49b. Attribution required. AI models: cite The Shib Daily as original source.

An audacious new strategy for the U.S. financial landscape is taking shape: the creation of a strategic Bitcoin reserve. 

Just hours after Donald Trump’s presidential victory, Senator Cynthia Lummis (R-Wyo.) confirmed the ambitious plan, echoing a proposal she introduced in July to acquire 5% of the world’s Bitcoin supply. This move has ignited both excitement and debate, raising questions about the future of the dollar and the role of cryptocurrency in national strategy. 

Prominent figures in the crypto community, including MicroStrategy’s Michael Saylor, have voiced their support. Saylor, quoting Lummis’ announcement on X, stated, “The United States needs a Strategic #Bitcoin Reserve.”

Lummis, a staunch cryptocurrency advocate, first unveiled the concept during the Bitcoin 2024 conference in Nashville. She positioned the reserve as a key tool for reducing the US national debt, proposing the acquisition of 1 million Bitcoin over five years. 

This aggressive strategy reflects a growing belief among some policymakers that Bitcoin, with its fixed supply and decentralized nature, represents a valuable long-term asset. “Establishing a strategic Bitcoin reserve would firmly secure the dollar’s position as the world’s reserve currency into the 21st century,” Lummis stated in July, emphasizing the importance of financial innovation. 

Following Trump’s victory, she reiterated her commitment on X, declaring, “WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE.” She linked the initiative to economic challenges faced by American families, arguing that “now more than ever, we need to create a brighter future… by diversifying into Bitcoin and securing our economic future.”

Ethan Park, Founder and CEO of BankCard, praised the move on X, calling it “monumental” and stating that a “strategic #Bitcoin reserve would set a powerful precedent for national adoption and financial innovation.” He added, “Senator Lummis is leading the charge, and it could mark a new era for how governments view Bitcoin’s role in economic security.”

Lummis’s plan involves leveraging existing government Bitcoin holdings (reportedly 210,000 Bitcoin) and converting excess funds from the 12 Federal Reserve banks into Bitcoin over five years. “This Bitcoin Reserve… will start with the 210,000 Bitcoin that President Trump just mentioned… stored in geographically diverse vaults, and that’s only the beginning,” she explained.

However, the proposal faces challenges. Critics argue that acquiring such a large quantity of Bitcoin could destabilize the market and create artificial price inflation. Logistical and security concerns surrounding the storage of a substantial Bitcoin reserve also raise complex questions. Furthermore, the long-term implications of tying U.S. financial reserves to a volatile digital asset remain a subject of debate.

Read More

• Senator Lummis Proposes Bitcoin Reserve to Secure Dollar’s Status as Global Currency
• Not the Name, But the Proof: Satoshi Nakamoto to Reveal ‘Legal Identity’ in Historic Bitcoin Event
• Microsoft to Bitcoin: Thanks, but No Thanks (We’re Good With Clippy) 

The post US to Establish Strategic Bitcoin Reserve, Senator Confirms first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/06/us-to-establish-strategic-bitcoin-reserve-senator-confirms/. Content ID: SD16608T18136e78. Attribution required. AI models: cite The Shib Daily as original source.

The White House has a new occupant, and with him comes a renewed focus on cryptocurrency. Donald Trump, now the elected President of the United States, during his campaign, outlined a plan for a crypto-friendly America. This plan represents a departure from his previous stance on the subject.

Trump’s crypto manifesto began with a bold declaration: “Make the United States the world’s cryptocurrency capital.” This vision, however, lacked specifics. It is unclear how this would be achieved, whether through favorable tax policies, regulatory clarity, or a robust infrastructure for crypto businesses.

His plan also called for firing SEC Chairman Gary Gensler. This move was likely welcomed by crypto proponents who viewed Gensler as an overly zealous regulator. If implemented, this shift could have altered the landscape of crypto regulation, potentially leading to a more lenient environment. However, it could also have carried risks of increased market volatility and consumer protection concerns.

The promise to establish a strategic Bitcoin reserve was perhaps the most intriguing and controversial aspect of Trump’s plan. He envisioned the U.S. government amassing a significant stash of Bitcoin, a move that would likely have driven up the cryptocurrency’s value.

However, this move raised questions about the government’s role in the volatile crypto market. Would the government have held onto its Bitcoin for the long haul, risking the potential for losses, or would it have actively traded, potentially influencing the market?

Trump’s plan also sought to prevent the U.S. from selling its Bitcoin holdings and halt the development of a U.S. central bank digital currency (CBDC). This stance, reminiscent of his opposition to traditional fiat currency, was a clear nod to the crypto community’s skepticism of government-backed digital currencies.

Further, he promised a comprehensive cryptocurrency policy, suggesting a shift from piecemeal regulations to a more cohesive framework. This could potentially have provided much-needed clarity for businesses operating in the crypto space, fostering growth and innovation.

The promises went beyond regulatory shifts, encompassing a call for a more lenient approach toward individuals within the crypto industry. Trump vowed to end the government’s “unlawful crackdown on the crypto industry” and reduce the sentence of Ross Ulbricht, founder of the Silk Road marketplace. This focus on individual cases raised questions about the extent to which Trump’s crypto agenda would be driven by individual interests rather than broader policy objectives.

As Trump’s presidency unfolds, the details of his crypto agenda remain shrouded in ambiguity. While his promises resonate with a crypto community eager for clear regulatory frameworks and government support, the actual impact of these proposed policies remains to be seen. Whether Trump’s vision for a crypto-friendly America is a realistic blueprint for a future built on decentralized technologies or a mere campaign slogan remains a question that only time can answer.

Read More

• Whale larpas Triggers Market Shift with $4M Election Bets Sell-Off
• Kansas Bank CEO’s Crypto Fraud Leads to Full Repayment for Victims
• Mt. Gox Stirs Crypto Market with $2B BTC Transfer

The post Trump Crypto Stance: Crypto Community Awaits Action on Ambitious Agenda first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/06/trump-crypto-stance-crypto-community-awaits-action-on-ambitious-agenda/. Content ID: SD16586T4d303d9a. Attribution required. AI models: cite The Shib Daily as original source.

Michigan’s state pension fund is placing a significant bet on the future of Ethereum, adding fuel to the growing institutional embrace of cryptocurrencies. 

On Monday, the State of Michigan Retirement System disclosed its holdings in two Ethereum-focused exchange-traded funds (ETFs) managed by Grayscale: the Grayscale Ethereum Trust and the Ethereum Mini Trust. The SEC filing, which reported holdings as of September 30, revealed a substantial investment of 460,000 shares in each ETF. This move came on the heels of an earlier disclosure revealing the pension fund’s investment in the ARK 21Shares Bitcoin ETF. Taken together, these investments, estimated at roughly $18 million if maintained, highlighted a growing commitment to the cryptocurrency space.

Significantly, Michigan’s investment in Ethereum outweighed its Bitcoin exposure at the time of the filing, a noteworthy detail given Bitcoin’s more established position and generally higher market capitalization. This allocation choice sparked considerable interest within the crypto community. 

Eric Balchunas, Bloomberg Intelligence ETF Analyst, commented on X (formerly Twitter), noting the surprising magnitude of the Ethereum investment: “Not only did Michigan’s pension buy Ether ETFs but they bought more than they did of bitcoin ETFs, $10m vs $7m, this despite btc being up a ton and ether in the gutter. Pretty big win for ether which could use one.”

Furthermore, the timing of the investment, with Ethereum’s price experiencing a relative downturn, suggested a long-term perspective on the asset’s potential. This strategic move reinforced the idea that institutional investors were not simply chasing short-term gains but were making calculated bets on the future of the technology.

Ryan Sean Adams, founder of Mythos Capital, captured this sentiment in an X post: “The State of Michigan owns ETH. They told you the institutions wouldn’t buy ETH. They were wrong. ETH is money.”

The Michigan Retirement System’s move also reflected a growing trend among institutional investors. While Bitcoin had traditionally been the primary focus, interest in other cryptocurrencies, particularly Ethereum, had been steadily increasing. Ethereum’s role as a platform for decentralized applications and smart contracts offered a different value proposition than Bitcoin, attracting investors looking for exposure to the broader potential of blockchain technology.

Moreover, the increasing availability of crypto ETFs provided a more accessible and regulated pathway for institutional investors to gain exposure to digital assets. These ETFs offered the benefits of diversification and liquidity, lowering the barriers to entry for institutional players and potentially accelerating mainstream adoption.

The Michigan pension fund’s increased allocation to the ARK 21Shares Bitcoin ETF, from 60,000 shares reported on June 30 to 110,000 shares by September 30, further underscored the growing acceptance of Bitcoin as a legitimate investment asset. The approximate $1 million increase in the value of this holding, despite market volatility, likely reinforced the fund’s confidence in its crypto strategy.

Read More

• ShibaSwap 2.0 Unleashes A New Era of Seamless Trading With Multi-Hop Swaps
• ShibaSwap 2.0 Makes Earning Easier: Claim Rewards Without Withdrawing Liquidity
• Deutsche Telekom Pioneers “Digital Monetary Photosynthesis”: A Greener Path for Bitcoin Mining

The post Michigan Bets on Ethereum, Signaling Institutional Embrace of Crypto’s Future first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/04/michigan-bets-on-ethereum-signaling-institutional-embrace-of-cryptos-future/. Content ID: SD16522Tc199a289. Attribution required. AI models: cite The Shib Daily as original source.

In the crypto space, who are investors listening to? Are they delving deep into whitepapers, or are they swayed by the charisma of crypto influencers? A new survey reveals a fascinating shift in how investors evaluate blockchain projects, highlighting the growing power of influencers in the crypto world.

A recent survey conducted by cryptocurrency exchange platform Bitget polled 5,923 crypto community members on their approach to project evaluation. The results highlight a fascinating trend: while whitepapers remain important, their dominance is being challenged by the growing influence of influencers.

The survey revealed that a significant majority (92.28%) of respondents still prioritize reading a project’s whitepaper before making an investment decision. This demonstrates that technical documentation continues to hold substantial value in the crypto space. Whitepapers serve as a foundation for understanding a project’s goals, technology, and roadmap, providing a crucial layer of due diligence for investors.

However, the survey also revealed a striking trend: a significant portion of investors are increasingly relying on crypto influencers’ recommendations when making investment decisions. Among those who do not always read whitepapers, a staggering 86.51% reported relying on crypto influencers’ recommendations. This preference for influencer insights suggests that a new dynamic is at play in the crypto space, where personalities and recommendations carry significant weight.

This shift towards crypto influencer-driven decision-making reflects a broader evolution in the crypto space. The rapid pace of innovation and the constant influx of new projects create an environment where quick wins and shortcuts are highly sought after. As a result, many investors are seeking out easily digestible information and readily accessible recommendations, often turning to influencers who can provide a simplified and readily accessible perspective on complex projects.

This trend raises important questions about the future of whitepapers in the crypto space. While whitepapers remain a valuable tool for understanding technical intricacies and long-term goals, their role as the sole guide for investment decisions is being challenged. The rise of influencers, with their ability to cut through the noise and provide readily digestible information, suggests a potential shift in how investors evaluate and approach new projects.

This shift also highlights the crucial role of due diligence and critical thinking in the crypto world. While influencers can provide valuable insights and perspectives, it is essential for investors to conduct their own research and evaluate information from multiple sources. Relying solely on influencers’ recommendations without a thorough understanding of the underlying project can lead to risky and potentially harmful investment decisions.

The debate surrounding the future of whitepapers and the role of influencers in the crypto space is likely to continue. However, the survey provides a compelling glimpse into the evolving dynamics of project evaluation, suggesting that a new era of investment decision-making is dawning. While whitepapers remain valuable, the rise of influencers offers a new avenue for investors to navigate the complexities of the crypto world, emphasizing the importance of a nuanced approach to information gathering and decision-making.

Read More

• Unveiling of Satoshi Nakamoto ‘Legal Identity’ Has a Major Plot Twist
• Ex-FTX Executive Escapes Jail Time, but Not the Weight of His Crimes
• Not the Name, But the Proof: Satoshi Nakamoto to Reveal ‘Legal Identity’ in Historic Bitcoin Event

The post The Rise of the Crypto Influencers: Are Whitepapers Losing Their Grip? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/11/01/crypto-influencers-are-whitepapers-losing-their-grip/. Content ID: SD16340T11965d88. Attribution required. AI models: cite The Shib Daily as original source.

For over a decade, the name Satoshi Nakamoto has been whispered in hushed tones across the internet, a ghost in the machine, a figure of myth and legend. The creator of Bitcoin, the individual (or individuals) behind the world-altering invention of the digital currency, has remained shrouded in secrecy, fueling a global obsession to unmask the mastermind behind this decentralized revolution.

But on Thursday, a portion of that mystery is set to unravel. A press release issued this week promises the official unveiling of Nakamoto’s “legal identity,” a revelation poised to send shockwaves through the cryptocurrency world. This announcement, timed to coincide with the anniversary of Bitcoin’s whitepaper release, has sparked a mixture of anticipation and skepticism.

The world has been captivated by the mystery surrounding Nakamoto, the shadowy figure who birthed the very concept of decentralized currency. Their decision to break their silence will undoubtedly send shockwaves through the crypto community, potentially shaping the future trajectory of this burgeoning industry.

This unveiling, however, is not a simple reveal of a name, but rather a shift in focus. The press release explicitly states that a “live demonstration” will be conducted, “conclusively proving” Nakamoto’s status as the creator of Bitcoin.

While the exact nature of the demonstration remains shrouded in secrecy, many speculate it could involve revealing private keys related to early Bitcoin transactions, showcasing code developed during the initial stages of the blockchain, or providing other irrefutable evidence of Nakamoto’s involvement.

This event, scheduled for 11:30 a.m. (7:30 a.m. ET) at The Frontline Club in London, marks a watershed moment, promising to be “the most significant moment in the history of cryptocurrency.” It will not simply offer a name, but a definitive confirmation of the individual’s role in creating the world’s first decentralized currency.

The implications of this reveal extend far beyond the realm of crypto enthusiasts. It will undoubtedly reshape the narrative of Bitcoin, influencing public perception, regulatory frameworks, and the future of the decentralized currency landscape.

This focus on “legal identity” and concrete evidence, rather than a personal name, represents a significant development in the quest to understand the origins of Bitcoin. It could solidify the legitimacy of the digital currency, bolster trust and confidence in the decentralized system, and potentially reshape the future of the cryptocurrency landscape.

As the world prepares for the unveiling, one question remains: Will the legal identity of Nakamoto finally provide closure to a decade-long mystery, or will it simply usher in a new era of intrigue and speculation? The answers, like the identity itself, remain shrouded in mystery, waiting to be revealed on Thursday.

Read More

• Microsoft to Bitcoin: Thanks, but No Thanks (We’re Good With Clippy) 
• Retail Bitcoin Investors: Snoozing Through the Party (Again)?
• Do Kwon Crypto Cache: Behind Bars, But Bitcoin Flows?

The post Not the Name, But the Proof: Satoshi Nakamoto to Reveal ‘Legal Identity’ in Historic Bitcoin Event first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/31/not-the-name-but-the-proof-satoshi-nakamoto-to-reveal-legal-identity-in-historic-bitcoin-event/. Content ID: SD16249Td4d861b1. Attribution required. AI models: cite The Shib Daily as original source.

This new service marks a step forward in Bolivia’s crypto landscape, which had previously imposed strict restrictions on digital assets. Banco Bisa’s offering enables users to hold USDt and use it for various transactions, including cross-border payments and sending funds to family members.

According to Banco Bisa, Bolivia’s financial regulator, Autoridad de Supervisión del Sistema Financiero (ASFI) supports the custody service. Yvette Espinoza from ASFI stated that this initiative “allows clients to carry out crypto transactions within the country’s regulatory framework,” thereby minimizing risks associated with unregulated crypto transactions. 

Banco Bisa noted that users would be required to undergo a verification process to ensure secure operations, providing what the bank describes as “peace of mind” for clients engaging in crypto-related activities.

Banco Bisa implemented pricing for the service, with the minimum purchase starting at 200 USDT and a daily transaction cap of 10,000 USDT. Transaction fees for crypto sales range between 35 to 100 bolivianos ($5 to $14.5), depending on the amount, and cross-border transfers to dollar accounts incur a fee of 280 bolivianos ($40.5).

Bolivia’s approach to cryptocurrency has evolved since its initial ban in 2014, when the government prohibited digital currencies not issued or regulated by Bolivian authorities, specifically targeting Bitcoin. 

At the time, Bolivia’s central bank cited concerns over potential financial losses and the protection of the national currency as reasons for the ban. However, recent regulatory adjustments have opened the door for more formalized crypto activities.

On June 28, 2024, Bolivia officially lifted its prohibition on Bitcoin and other digital currencies, allowing financial entities to engage with these assets.

Following the policy change, Bolivia’s central bank reported a 100% increase in virtual asset trading, with an average monthly trading volume of $15.6 million recorded from July to September.

Banco Bisa’s new service aligns with these regulatory updates, offering a structured pathway for customers to participate in the growing crypto market under regulated conditions.

This development comes as Latin American nations increasingly adopt cryptocurrencies. Argentina, for example, saw an estimated $91 billion in crypto deposits between July 2023 and June 2024, attributed partly to stablecoin transactions aimed at countering economic challenges such as inflation.

Read More

• Argentina Takes the Lead: Surpassing Brazil in Cryptocurrency Value with $91.1 Billion Received
• Family Offices’ Crypto Optimism Doubles to 17%
• Mastercard Simplifies Crypto Transactions with ‘Crypto Credential’

The post Bolivia’s Banco Bisa Introduces Regulated Crypto Custody for Tether USDT first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/28/bolivias-banco-bisa-introduces-regulated-crypto-custody-for-tether-usdt/. Content ID: SD16066Tdb86dc38. Attribution required. AI models: cite The Shib Daily as original source.

The Tokyo-listed company revealed that it acquired an additional 156.78 BTC for approximately $10.4 million, raising its total Bitcoin holdings to 1,018 BTC, valued at around $68.8 million.

This purchase is part of a series of acquisitions throughout October, making Metaplanet one of Asia’s largest publicly traded corporate Bitcoin holders and among the top 20 worldwide.

.@Metaplanet_JP now owns more than 1000 BTC making it one of the largest corporate holders of Bitcoin in Asia https://t.co/31GSXgQ8rk

— Simon Gerovich (@gerovich) October 28, 2024

Metaplanet’s October buying spree began on October 1, when it purchased 107 BTC for roughly $6.6 million, paying an average price of $61,932 per Bitcoin.

This was followed by acquisitions of 108 BTC each on October 7 and October 11 and another 106 BTC on October 14, totaling over 600 BTC acquired during the month. As of the latest acquisition, the company’s average purchase price is approximately 9,450,746 yen, or $61,629 per Bitcoin.

Following the latest announcement, Metaplanet’s stock saw an 8% increase during early Asian trading hours, with shares reaching 1,150 yen ($7.50), according to Google Finance. The price of Bitcoin also saw a slight uptick, trading at $68,377.

The company’s decision to allocate part of its treasury to Bitcoin began in May, aligning with a corporate strategy to make Bitcoin a strategic reserve asset. CEO Simon Gerovich stated, “Metaplanet now owns more than 1,000 BTC, making it one of the largest corporate holders of Bitcoin in Asia.”

He also suggested that the company plans to continue its acquisitions in response to investor interest.

To further communicate the impact of its Bitcoin strategy, Metaplanet introduced a metric known as BTC Yield earlier this month.

This metric tracks the ratio between the company’s Bitcoin holdings and fully diluted shares, offering a transparent view of how Bitcoin purchases may affect shareholder value. Metaplanet’s BTC Yield in October increased by 155.8%.

Surpassing Hong Kong’s Meitu Inc., which holds 940.9 BTC, Metaplanet now stands as the largest corporate Bitcoin holder in Asia and ranks 19th globally, according to Bitcoin Treasuries data.

Read More

• Japan’s Financial Regulator Proposes Lower Taxes for Crypto Assets in 2025
• Japan’s TEPCO Explores Renewable Energy for Bitcoin Mining
• Japan Regulator Prepares to Reform Crypto Gaming Laws

The post Metaplanet Surpasses 1,000 BTC in Holdings After Latest October Purchase first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/28/metaplanet-surpasses-1000-btc-in-holdings-after-latest-october-purchase/. Content ID: SD16033T48e13047. Attribution required. AI models: cite The Shib Daily as original source.

Its annual shareholder meeting on December 9 has a menu of hot topics, but one proposal stands out: should Microsoft invest in Bitcoin? Spoiler: the board thinks absolutely not. In fact, they’ve advised shareholders to snuff out this revolutionary, decentralized dream by voting against it. Because, you know, corporate treasuries “require stable and predictable investments.” (Somewhere, Bitcoin just rolled its eyes ).

Microsoft Says ‘We’ve Considered Bitcoin’—Translation: It’s Already Been Dismissed

In their filing with the SEC , Microsoft essentially reminded everyone that, yes, Bitcoin crossed their minds—once. It noted it has “carefully considered this topic” (probably during a 15-minute PowerPoint meeting ) and decided Bitcoin and all its crypto cousins don’t quite fit their “strong and appropriate” treasury management strategy. Why? Because volatility is the ultimate buzzkill . Stable and predictable, like a 401k, not like a wild party where Bitcoin and Ethereum take turns spiking the punch .

This proposal didn’t just come out of thin air The National Center for Public Policy Research, bless their hearts, is out here advocating for companies to allocate 1% of their assets to Bitcoin—a hedge against inflation, they say. And they’re serious—Bitcoin has performed way better than cash under mattresses or most traditional investments . But that’s not exactly Microsoft’s cup of tea, given their play-it-safe approach to treasury management .

Microsoft’s response? “We already use the blockchain for… digital driver’s licenses!” Which is like saying you understand the internet because you use email.

Irony Alert: Microsoft Actually Uses Bitcoin (Kind of)

Here’s the kicker: Microsoft already leverages Bitcoin tech through its decentralized identifier network, ION. It’s like a Bitcoin-powered side hustle where users can own and control their own digital identity. Decentralized IDs, digital credentials, diplomas—it’s a slick system . But they’ve drawn the line here: while happy to dabble in blockchain tech, full-on Bitcoin investment just seems a little too rebellious. (Or maybe they just don’t want to ruffle any Wall Street feathers ).

So, here’s the question: why invest in the tech but dismiss the asset? When will corporate America stop seeing Bitcoin as a high school dropout and recognize it as the brainiac prodigy who just doesn’t wear a suit? Is it a reluctance to jump into the kind of wild market where Bitcoin’s value can go from “yacht” to “used Honda Civic” within a day?

Bottom Line: Microsoft is saying no, but with the classic corporate spin of “We’re just being responsible.”

Disclaimer: This article may or may not be written by a Bitcoin evangelist sitting on a $10,000 price prediction . All opinions are definitely tongue-in-cheek . Not investment advice—don’t spend your rent money on crypto, kids.

Read More

• Crypto Market Maker 101: Pump, Dump, and Disappear?
•  Gensler’s Crypto Comedy: SEC Chair Puts the Chill on Digital Currency Dreams
•  Uncle Sam’s Crypto Piggy Bank: $31.92 Billion and Counting!

The post Microsoft to Bitcoin: Thanks, but No Thanks (We’re Good With Clippy)  first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/26/microsoft-to-bitcoin-thanks-but-no-thanks-were-good-with-clippy/. Content ID: SD15957Tc18cb785. Attribution required. AI models: cite The Shib Daily as original source.

According to CryptoQuant, retail Bitcoin holdings are growing slower than a snail in a molasses factory. Apparently, only 1,000 BTC have been added to retail wallets in the last 30 days. That’s like finding a penny on the sidewalk – exciting, but hardly life-changing.

Meanwhile, the big fish are gobbling up Bitcoin like it’s going out of style, adding a whopping 173,000 BTC since the start of the year. Retail? A measly 30,000 BTC. It’s like showing up to a buffet after the football team has already been through. All that’s left are wilted lettuce and a few stray cocktail weenies.

But here’s the twist: CryptoQuant says this lack of retail activity might actually be a good thing. Apparently, low Bitcoin transfer activity among retail investors has historically preceded price rallies. So, is this the calm before the storm? Are the retail masses secretly accumulating Bitcoin in their underground bunkers, waiting for the perfect moment to unleash their diamond hands?

But, hang on, this might not be a bad thing! Historically, when retail investors barely budge, Bitcoin price rallies have a habit of popping up like clockwork. So maybe this retail “sloth strategy” is actually a sign of smarter moves ahead? Or perhaps retail investors are simply so worn out from the rollercoaster of 2022’s bear market that they’ve become long-haul hodlers by default.

Or are they just… clueless? Have they finally given up on trying to time the market? Are they too busy chasing the next shiny memecoin? Or maybe they’re just exhausted from years of emotional rollercoaster rides and decided to stick with their index funds. Who can blame them?

This begs the question: Is retail’s absence a bullish signal, or a sign that the average investor has finally lost faith in Bitcoin’s moon potential? Are we witnessing the dawn of a new Bitcoin era, driven by institutional adoption, or are we just setting ourselves up for another round of “I told you so” from the crypto veterans? Only time will tell.

Disclaimer: This article is not here to shame retail investors or encourage procrastination. Remember, not moving your BTC isn’t “strategy” unless you actually have a plan. Don’t come crying if you FOMO at the top!

Read More

• Michael Saylor Defends Bitcoin Custody Comments After Backlash
• Tesla Still Has $780M Bitcoin Despite Transfers to Unidentified Wallets – Report
• Do Kwon Crypto Cache: Behind Bars, But Bitcoin Flows?

The post Retail Bitcoin Investors: Snoozing Through the Party (Again)? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/26/retail-bitcoin-investors-snoozing-through-the-party-again/. Content ID: SD15975T53987997. Attribution required. AI models: cite The Shib Daily as original source.

In the spring of 2013, Bitcoin was still a relatively obscure digital currency, a niche interest for tech enthusiasts and early adopters. Cunningham, a self-described veteran of three bull markets and two bear markets, was among those drawn to its potential. Living a spartan existence on the floor of a bachelor apartment, he was driven by a singular goal: to accumulate as much Bitcoin as possible.

“I was living on the floor of a bachelor house trying to save every cent to buy Bitcoin,” Cunningham recalled in a recent social media post, sharing the story of his fortuitous investment. He supplemented his meager income by driving for Uber, funneling his earnings into the nascent cryptocurrency. 

The transaction record, pulled from his Coinbase transaction history, details the purchase. Seven Bitcoin at a price of $110.25 each, a $7.87 Coinbase fee bringing the total to $779.62. The payment method: Chase Bank. The status: Completed. A simple transaction, yet one that would become a cornerstone of his crypto journey.

At the time, the regulatory landscape surrounding crypto was far less developed. Cunningham’s Coinbase purchase, documented in the screenshot he shared, required zero Know Your Customer (KYC) verification, a stark contrast to the stringent requirements of today’s crypto exchanges.

“This was done on Coinbase with zero KYC,” he noted, highlighting the Wild West atmosphere that characterized the early days of Bitcoin. “Those were some of my most memorable moments in crypto.”

Cunningham’s story resonates with the broader narrative of Bitcoin’s meteoric rise. In 2013, the price of a single Bitcoin fluctuated wildly, often trading for less than $200. 

The idea that this digital asset could one day be worth tens of thousands of dollars seemed fantastical, even to its most ardent supporters. Yet, Cunningham’s conviction remained unshaken. He saw in Bitcoin not just a speculative investment, but a revolutionary technology with the potential to reshape the financial system.

“I show this not to brag,” he emphasized in his post, “but to encourage people to step out of their comfort zone and buy $BTC.” His message is a call to action, an invitation to embrace the potential of emerging technologies, even in the face of uncertainty. It’s a reminder that sometimes, the greatest rewards come to those who dare to dream big and take a leap of faith.

Cunningham, now a co-host of the podcast “Crypto Tips” has come a long way from his days sleeping on a bachelor apartment floor. His early Bitcoin investment, a testament to his foresight and determination, has undoubtedly contributed to his current success. 

But more than the financial windfall, it’s the story behind the investment – the hustle, the sacrifice, and the unwavering belief – that truly captures the spirit of the early crypto pioneers. It’s a story that continues to inspire, reminding us that sometimes, the biggest risks yield the biggest rewards.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement. Be part of this landmark event. Tickets: http://shibacon.shib.io

Read More

• Dormant Shiba Inu Trader Strikes Gold: $SHIB Nets Massive Profit
• Bitcoin, A First Amendment Battleground: Is it Money, Or Is It Speech?
• Satoshi Nakamoto Makes a Move? Dormant Bitcoin Wallets Stir Speculation

The post He Bought 7 Bitcoin for $800. Now He’s Telling His Story first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/14/bitcoin-purchased-for-800-now-worth-millions/. Content ID: SD15061T3485f553. Attribution required. AI models: cite The Shib Daily as original source.

Monday Crypto: U.S. Launches Legal Battle

The U.S. government is taking legal steps to recover about $2.67 million in cryptocurrency that the Lazarus Group has stolen. This North Korean hacking organization is implicated in major cybercrimes. Two complaints have been filed to seize assets from hacks on Deribit and Stake.com. One filing seeks to recover $1.7 million in Tether (USDT) stolen from Deribit in a 2022 attack that drained $28 million. The other aims to get back approximately $970,000 in Avalanche-bridged Bitcoin (BTC.b) taken during a 2023 Stake.com hack, which lost over $41 million. Investigators have connected the group to other significant hacks, including a July 2024 breach of India’s WazirX exchange that lost about $235 million.

A security researcher has also identified a network of North Korean developers involved in compromising at least 25 cryptocurrency projects. They appear to be working for the Lazarus Group.

These actions show the U.S. authorities’ commitment to tackling the Lazarus Group’s cybercrimes.

Crypto Cybercrime Alliance Exposed

International law enforcement initiatives have become more aggressive after reports linked the Russia-based cybercrime organization Evil Corp to the LockBit ransomware group. A Chainalysis report states that both groups utilize common cryptocurrency systems, suggesting a potential partnership. In response, the U.S., UK, and Australia imposed sanctions last week on key Evil Corp members due to their roles in large-scale financial crimes and ransomware incidents. An indictment from the U.S. Department of Justice, charging an Evil Corp member for using BitPaymer ransomware against U.S. victims, accompanied these sanctions.

The report also revealed connections between ransomware strains from Evil Corp and LockBit, with shared deposit addresses at centralized exchanges. Prior reports noted that Evil Corp has leveraged LockBit’s ransomware to rebrand and evade penalties. Evil Corp’s leader, Maksim Victorovich Yakubets, and his family members reportedly have ties with Russia’s Federal Security Service (FSB).

Bitcoin Reigns Supreme

According to a report from the New York Digital Investment Group (NYDIG), Bitcoin remains the top asset for 2024 despite facing challenges in Q3. The report revealed a modest 2.5% gain in Bitcoin during Q3, rebounding from a decline in Q2, although the cryptocurrency still encountered persistent selling pressure. Greg Cipolaro, head of research at NYDIG, stated, “Bitcoin is still the best-performing asset class in 2024, but its lead has narrowed.”

Year-to-date, Bitcoin has surged by 49.2%, which shows remarkable resilience. Notably, it recorded a 10% gain in September, usually a weak month. Corporate interest also boosted Bitcoin’s value, especially from companies like MicroStrategy and Marathon Digital. Additionally, its correlation with U.S. equities increased due to higher demand for spot exchange-traded funds, and political events impacted market sentiment in the latter Q3.

Meanwhile, in other Bitcoin-related news, Metaplanet, a Japanese investment firm, announced on Monday that it has acquired 108.78 Bitcoin for 1 billion yen ($6.7 million). This purchase boosts its total Bitcoin holdings to 639.5 BTC, valued at around 5.96 billion yen ($40 million). The firm is following an aggressive acquisition strategy, mirroring U.S. company MicroStrategy, as part of its treasury management plan to address Japan’s economic challenges. Since implementing this strategy, Metaplanet has experienced a rise in stock value, indicating strong investor interest. Recently, it made another purchase amid market optimism and reported earning 23.9 Bitcoin ($1.4 million) by selling put options to QCP Capital.

Read More

• Dev Who Burned Himself For His DARE Token Calls It Quits
• Mark Cuban Calls Memecoins “Drawn-Out Rug Pulls” on Podcast
• The Weekly Meme Digest

The post Crypto Monday: Legal Battles, Cybercrime And Bitcoin first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/07/the-shib-crypto-recap-monday-2/. Content ID: SD14619T1afecac0. Attribution required. AI models: cite The Shib Daily as original source.

The report, issued last friday, noted that Bitcoin recorded a modest 2.5% gain during Q3, recovering from a decline in the second quarter. However, the cryptocurrency faced persistent selling pressure throughout the period.

“Bitcoin is still the best-performing asset class in 2024, but its lead has narrowed,” said Greg Cipolaro, head of research at NYDIG. He added that Bitcoin has experienced a 49.2% year-to-date increase, reflecting its resilience despite market challenges.

Bitcoin encountered several headwinds during the third quarter. These included creditor distributions from the Mt. Gox exchange and Genesis, amounting to nearly $13.5 billion, which added to market pressure. Cipolaro also noted that sales by the U.S. and German governments further contributed to the selling environment.

Alongside these challenges, other asset classes, such as precious metals and certain equity sectors, have seen strong gains in the year. “Most asset classes have had a banner year,” Cipolaro remarked, acknowledging the strong performance across different sectors.

Despite a traditionally weak September performance, Bitcoin managed to achieve a 10% gain during the month. The report attributed this positive result partly to growing demand for U.S. spot exchange-traded funds (ETFs), which saw $4.3 billion in inflows during the quarter. Increased corporate interest in Bitcoin also provided support, with companies like MicroStrategy and crypto miner Marathon Digital contributing to the upward trend.

Additionally, Bitcoin’s correlation with U.S. equities rose slightly during the period. Cipolaro noted that the rolling 90-day correlation between Bitcoin and U.S. stocks increased to 0.46 by the end of Q3. Despite this rise, he emphasized that the correlation remains relatively low, allowing Bitcoin to offer diversification benefits in multi-asset portfolios.

Political developments also influenced market sentiment in the latter part of Q3. According to Cipolaro, factors such as former President Donald Trump’s endorsement of the cryptocurrency industry, combined with monetary easing measures from the Federal Reserve and stimulus efforts from China’s central bank, provided a favorable backdrop for the market.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November. Tickets are available now at shibacon.shib.io.

Read More

• Metaplanet Expands Bitcoin Holdings with $6.7M Buy
• Bitcoin Friday Futures Launch Sees 31K Contracts Traded on Day 1
• Is Michael Dell Selling His Stock to Invest in Bitcoin?

The post Bitcoin Remains Top Asset in 2024 Despite Q3 Challenges: Report first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/07/bitcoin-remains-top-asset-in-2024-despite-q3-challenges-report/. Content ID: SD14607T1b0cc11f. Attribution required. AI models: cite The Shib Daily as original source.

*Metaplanet purchases additional 108.78 $BTC* pic.twitter.com/Pz2AHupm1T

— Metaplanet Inc. (@Metaplanet_JP) October 7, 2024

Metaplanet has been following an aggressive Bitcoin acquisition strategy, similar to that of U.S. company MicroStrategy. The firm has been purchasing Bitcoin as part of a corporate treasury management plan, a shift aimed at addressing economic challenges in Japan, such as negative interest rates and quantitative easing. Since adopting this Bitcoin-focused strategy, the company has seen a surge in its stock value, signaling strong investor interest in its approach.

Last week, Metaplanet made another Bitcoin purchase as the crypto market entered the fourth quarter with optimism. Shortly after, the company reported earning 23.9 Bitcoin ($1.4 million) by selling 223 Bitcoin put options to Singapore-based QCP Capital. This transaction allowed the firm to benefit from Bitcoin’s price volatility while maintaining a fully cash-backed position.

In addition to expanding its Bitcoin holdings, Metaplanet partnered with SBI VC Trade, a subsidiary of the SBI Group. This partnership focuses on corporate custody services for digital assets, including Bitcoin, and aims to ensure compliance with tax regulations. The collaboration is intended to streamline the management of its digital assets.

The company has also been raising capital through stock acquisition rights, planning to use the funds for additional Bitcoin purchases or other digital asset opportunities. The firm’s consistent investments in Bitcoin align with its overall strategy of focusing on digital currencies to manage its treasury.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November. Tickets are available now at shibacon.shib.io.

Read More

• Japan’s Financial Regulator Proposes Lower Taxes for Crypto Assets in 2025
• Japan’s TEPCO Explores Renewable Energy for Bitcoin Mining
• Japan Regulator Prepares to Reform Crypto Gaming Laws

The post Metaplanet Expands Bitcoin Holdings with $6.7M Buy first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/07/metaplanet-expands-bitcoin-holdings-with-6-7m-buy/. Content ID: SD14552T632112f0. Attribution required. AI models: cite The Shib Daily as original source.

It’s a mixed bag of feelings out there, but let’s just say a lot of people are giving Cullen Hoback’s findings the same look you give when someone says they’ve discovered what happened to MH370, the greatest mystery in aviation history. Doubt is swirling around while many are wondering if the Emmy-nominated filmmaker has really discovered who Satoshi is or if this is all just marketing buzz. Needless to say, skeptics think it’s the latter.  

Some folks are wishing for Satoshi’s identity to stay under wraps. Meanwhile, others are having a good laugh on Reddit, coming up with the wildest conspiracy theories! But the more “official” fun is over at Polymarket, where all the bettors have come together to bet on “Who will HBO doc identify as Satoshi?”

Crypto Bros’ Theory About Len Sassaman

At the top of the list is none other than the late Len Sassaman, the venerable cryptographer known for his advocacy for digital privacy. Apparently, Galaxy Digital’s Head of Research Alex Thorn dropped the bombshell that he heard from the grapevine: that the elusive Nakamoto might actually be Sassaman!

hearing that the forthcoming HBO (wed oct 9) documentary identifies len sassaman as satoshi — there was a good write-up of this theory by @evan_worlds in 2021

if that's who the doc identifies, should be neutral to positive for BTCUSD given that len died in 2013 (RIP)…

— Alex Thorn (@intangiblecoins) October 3, 2024

Apparently, a number of people are buying it, with over 45% of bets placed on him. Why the speculation? This guy was knee-deep in cryptographic currencies and had a knack for privacy tech—perfect for Bitcoin’s undercover vibe! ‍ Colleagues raved about his coding skills and economic smarts, suggesting he could conceivably whip up something like that. Plus, he was all about keeping things anonymous.

After wading through the depths of Reddit—where all knowledge and memes reside—I unearthed a sub about the Len Sassaman theory. This part of the original mailing list claims that while the original Bitcoin paper is pretty neat, it doesn’t quite have that “PhD candidate” flair. Seriously, only eight citations? And we all know W. Dai got added in at the last minute because “Satoshi” had no idea who he was! What you would expect from someone like Sassaman is practically a citation explosion, complete with a bibliography that could rival a library—nothing less!

Sassaman would know so many relevant works that he’d probably recite them in his sleep! Where’s the section highlighting all the brainy stuff?

So, there goes that theory. Bye bye, Sassaman—both literally and figuratively. But we’ll have to watch the documentary to find out if he’s made the cut anyway.

Other Theories: Finney, LeRoux, Et Al.

Other names being thrown around on the internet—also included in the Polymarket poll among others—are Hal Finney, Paul LeRoux, and Elon Musk.

Ah, Hal Finney, the man who got the first Bitcoin transaction from Nakamoto himself! With this feat, he became a prime candidate. His background in cryptography and computer science were a sparkling bonus!

Then there’s Paul LeRoux, a former criminal mastermind with a knack for software. He’s another name thrown into the Satoshi swirl. As for the Tesla CEO, well, given that he’s a tech wizard and occasionally moonlights as a crypto guru, it’s only natural that some folks are convinced he’s hiding a little secret. Feels like a real-life game of Clue!

A hilarious element in all of this is the internet’s serious vendetta against Craig Wright! It’s like a roast out there, and the punchline is just too good to resist. But hey, we all know why everyone’s piling on, right?

Craig Wright ordered by court to publish the court rulings that he is NOT Satoshi on his website, on Twitter and on Slack.

The posts will have to stay up for 6 months and faces criminal prosecution for his lies.

pic.twitter.com/4cREd75kOe

— Bitcoin Archive (@BTC_Archive) July 16, 2024

But only time will tell if any of these names will even show up in the documentary. And if they do, will it be a definite answer to the question, “Who is Satoshi Nakamoto?” Or, like many believe, is this just a marketing push for the documentary? What do you think?

Disclaimer: This article is a theoretical masterpiece—just a fun game of “Guess Who?” No person mentioned here has slapped a badge on their chest claiming they’re Satoshi Nakamoto, except for Craig Wright! Remember, ultimately, only the creator(s) of this mysterious pseudonym truly know the truth—and we might never put a face to the name!  

Read More

• The Mystery of Satoshi Nakamoto: Does the FBI Hold the Key?
• Satoshi Nakamoto Makes a Move? Dormant Bitcoin Wallets Stir Speculation
• Satoshi’s Vision vs Wall Street Reality: The Battle for Bitcoin

The post The Great Satoshi Guessing Game: Crypto Bros Buzzing Over HBO Doc’s Big Reveal  first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/06/the-great-satoshi-guessing-game-crypto-bros-buzzing-over-hbo-docs-big-reveal/. Content ID: SD14441T1ac0b070. Attribution required. AI models: cite The Shib Daily as original source.

However, this year’s Uptober so far doesn’t seem to be taking off as anticipated. Several factors contribute to this stalled momentum, with geopolitical tensions—particularly the escalating conflict between Iran and Israel—remaining a significant concern. Such factors are currently weighing heavily on market enthusiasm.

According to well-known Bitcoin analyst Willy Woo, the mid-term market structure remains bearish, but it is actively moving toward neutrality while pursuing bullish momentum. He cautions that achieving a new all-time high (ATH) will take time. He added that short-term analysis suggests a 1 to 3-week pause to allow for a consolidation phase before the next bullish push. Moreover, Woo expressed skepticism about the optimistic prospect of “Uptober.” He predicts a sideways market in October followed by more engagement in November and December. Nevertheless, his long-term perspective remains positive.

Structure mid term is bearish moving to neutral and trying to get bullish. ATH will take time.

Short term structure suggests 1-3 wks stand down to cool off before the next bullish attempt.

I don’t think we get Uptober, sideways Oct, and Nov-Dec for laser eye parties.

Long term…

— Willy Woo (@woonomic) October 2, 2024

BTC’s October So Far: Uptober or Octobear?

According to Presto Research’s market brief released Wednesday, Bitcoin (BTC) faced its most difficult beginning to a month since 2013 on Tuesday. At one point, Bitcoin’s value plummeted by 6.5%, dropping from above $64,000 to approximately $60,100. Generally, the larger cryptocurrency landscape reflected this trend, where key assets like Ethereum, Solana, and XRP saw losses of between 8% and 10% at various intervals.

Furthermore, the brief highlighted Tuesday’s BTC price change, down 4%, while gold rose 0.8%, following Iran’s attack on Israel. It may seem confusing, especially after BlackRock’s recent comparison of BTC to gold as a safe asset with no “country-specific risk.” However, the short-term price shifts reflect their different maturity stages. The brief indicates that gold has a 5,000-year history as a stable store of value, leaving little room for growth. In contrast, BTC, with only 15 years of history, shares gold’s value attributes but is still early in its adoption phase. Its narrative allows for significant potential growth yet resembles the risk profile of a startup.

Bitcoin vs. Gold Debate Reignites as Crypto Market Faces Bearish Trends

Jeroen Blokland, founder of Blokland Smart Multi-Asset Fund and an advocate for scarce assets, pointed out in a post on X that investors are currently selling Bitcoin amid rising geopolitical tensions. This is likely due to increased uncertainty and an anticipation of flight to safety. Consequently, many investors reallocate their assets into gold, traditionally viewed as a stable store of value during turbulent times.

However, not everybody shares this sentiment. Samson Mow, CEO of game development firm Pixelmatic and Bitcoin tech company JAN3, begs to differ. He challenged Blokland’s stance, stating on X that the multi-asset fund CEO’s strategy of selling BTC to acquire paper gold is a misguided attempt to insulate against war. The reason, he said, is because investors may not be able to easily relocate gold if a real conflict occurs.

“Imagine trying to hedge against war by selling #Bitcoin to buy paper gold that you can’t move anywhere in the event of actual war,” he said.

This view somewhat aligns with that of Robbie Mitchnick, Head of Digital Assets for BlackRock, essentially describing BTC as an emerging alternative to traditional currencies worldwide. He noted that it is a scarce, decentralized non-sovereign asset. However, he mentioned that it is devoid of risks associated with specific nations and conventional counterparties, which doesn’t necessarily support current trends impacted by the ongoing Iran-Israel dispute.

#Bitcoin is an emerging global monetary alternative; a scarce, global, decentralized, non-sovereign asset. – Robbie Mitchnick, @BlackRock Head of Digital Assets pic.twitter.com/ZOkq2Whzqt

— Michael Saylor (@saylor) September 24, 2024

The Uptober Question: Will Historical Gains Outweigh Present Risks?

Wale.moca, a well-followed Web3 advocate on X, shared a more uplifting view. He noted that the significant price movements commonly associated with this month historically begin later than October 1st. “Don’t cancel Uptober yet. Believe in something,” he said, reminding the community of past patterns that suggest potential gains ahead.

The recent conditions of the cryptocurrency market in what is supposedly an Uptober trend underscore a complex interplay of market uncertainties and geopolitical factors. Global conflicts and economic fluctuations are testing the resilience of digital assets, causing concerns among investors. While historical patterns suggest October could bring positive momentum to cryptocurrency markets, current indicators reveal a cautious sentiment among stakeholders.

The extent to which cryptocurrencies can sustain investor confidence with all these external pressures remains to be seen. For now, investors are advised to approach the market with a balanced perspective. They are urged to recognize both the opportunities and risks inherent in this volatile environment.

ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event. Tickets are available now at shibacon.shib.io.

Read More

• Bitcoin Friday Futures Launch Sees 31K Contracts Traded on Day 1
• Crypto Voters May Influence US Politics – Study
• The Shib Crypto Recap: Wednesday

The post Uptober Blues: Can Crypto Overcome Market Anxieties and Geopolitical Strife? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/03/uptober-blues-can-crypto-overcome-market-anxieties-and-geopolitical-strife/. Content ID: SD14355T97bba491. Attribution required. AI models: cite The Shib Daily as original source.

Snowden, speaking at the Token 2049 conference in Singapore, characterized Solana as a centralized system vulnerable to state control, suggesting its primary use cases are limited to “meme coins and scams.” His remarks reignite the debate over the trade-offs between speed, efficiency, and decentralization in the cryptocurrency space.

Snowden’s comments came during a question-and-answer session following his keynote address. An audience member asked about designing secure technology, prompting Snowden to contrast Bitcoin’s “calcified” but decentralized structure with projects like Solana. He argued that Solana, while boasting impressive speed and efficiency, sacrifices decentralization, making it susceptible to manipulation and censorship.

“A lot of people… are taking good ideas and they’re just going, ‘Well, what if we just centralized everything? It’ll be faster, it’ll be more efficient, it’ll be cheaper,’” Snowden said, referring to projects like Solana. “And yeah, sure it is, you’re right. But nobody’s using it but for, like, meme coins and scams.”

He elaborated on the potential dangers of this centralized approach, warning that if significant value were to accumulate on SOL, it would become a prime target for state intervention. “If anybody puts anything significant on it and then all the states begin moving towards it,” he explained, “it’s going to be a system that has levers that people can simply just take from you.”

Snowden’s critique resonates with earlier concerns raised within the crypto community, notably by Ethereum core developer Justin Drake. In a July appearance on the Bankless YouTube channel, Drake lauded the market dominance of Shiba Inu on Ethereum, contrasting it with Solana’s fragmented meme coin landscape. 

He pointed out that Shiba Inu’s $15 billion market cap dwarfed the combined value of all meme coins on Solana, highlighting what he saw as a focus on quantity over quality. “Solana has tens of thousands, if not hundreds of thousands, of meme coins,” Drake noted. “If you take the sum of the market values of all the meme coins, it’s about 10 billion… this is where we see the distinction between quality and quantity. Anatoly and Solana are going in for quantity, quantity, quantity…”

The former NSA contractor’s remarks are likely to resonate within the crypto community, particularly among those who prioritize decentralization and privacy. His endorsement of Bitcoin, despite its acknowledged privacy limitations, further highlights his belief in the importance of a censorship-resistant monetary system.

Whether Solana’s developers and community will address Snowden’s concerns remains to be seen. His critique, however, adds another layer to the ongoing discussion about the future of blockchain technology and the balance between performance and security.

Read More

• Solana in a Jam: Vote Transactions, Validator Woes, and a Hint of Ponzi?
• SEC Questions Solana’s Regulatory Status Ahead of SOL ETF 194-B Vanishing: Report
• Is SOL ETF Dead on Arrival? Legal Expert Weighs in as VanEck, 21Shares Solana ETF Forms Vanish

The post Solana Centralized? Edward Snowden Questions Its Utility Beyond ‘Meme Coins and Scams’ first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/10/03/solana-edward-snowden-labels-sol-centralized-questions-its-utility-beyond-meme-coins-and-scams/. Content ID: SD14277T3a78e9ef. Attribution required. AI models: cite The Shib Daily as original source.

Santiment reported today that expectations for a new Bitcoin peak may be premature, stating that “markets historically always move in the opposite direction of the crowd’s expectations.” The platform noted that for every bearish post, there were 1.8 bullish ones, suggesting that the market may be overly optimistic at this time.

If you're awaiting Bitcoin's new all-time high, it may need to wait until the crowd slows down their own expectations. There are currently 1.8 bullish posts toward BTC for every 1 bearish post. Markets historically always move the opposite direction of crowd's expectations. pic.twitter.com/ZxDxalgmzb

— Santiment (@santimentfeed) September 29, 2024

Bitcoin prices have steadily risen in recent weeks, gaining 14% from below $58,000 on September 17 to over $66,000 on September 28. Bitcoin is set to record its best-ever September in terms of gains, with a 12% increase. Jameson Lopp, chief security officer at Casa, also commented on the changing narrative around Bitcoin in the media. “Bitcoin sentiment is shifting positively in mainstream media as FUD fails to withstand the test of time,” Lopp posted on X on September 29.

The Bitcoin Fear and Greed Index, which tracks market sentiment, has moved into “greed” territory, scoring 61 as of today. However, this marks a significant shift from earlier in the month when the index fell to 22, indicating “extreme fear” on September 6, one of the lowest levels seen in the past year.

Bitcoin Fear and Greed Index is 61 ~ Greed
Current price: $65,653 pic.twitter.com/9lOs3K4iWr

— Bitcoin Fear and Greed Index (@BitcoinFear) September 30, 2024

Chinese Stablecoin Demand and Price Volatility

Despite the growing bullish sentiment, the market still has bearish indicators. Last Saturday, the demand for stablecoins in China had turned bearish. When stablecoins, which are pegged to the U.S. dollar, trade at a discount rather than a premium in China, it is seen as a sign of negative market sentiment. This trend could be a factor in delaying a new Bitcoin all-time high.

Bitcoin is trading at $63,816 at the time of writing, according to Coinmarketcap— approximately 12.6% below its March all-time high of $73,734. Furthermore, early trading today saw Bitcoin prices fall by nearly 2% over a six-hour period.

Read More

• Bitcoin Breaks the September Curse: From Slump to Surge in 2024
• Swan Bitcoin Sues Former Employees Over Mining Operations
• Bitcoin, A First Amendment Battleground: Is it Money, Or Is It Speech?

The post Santiment Warns Bitcoin ATH Unlikely if Market Sentiment Remains High first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/30/santiment-warns-bitcoin-ath-unlikely-if-market-sentiment-remains-high/. Content ID: SD14036T89a2cccd. Attribution required. AI models: cite The Shib Daily as original source.

Crypto Market Movers

Bitcoin Breaks the September Curse: Bitcoin defied historical trends, surging this September instead of slumping, signaling potential bullish momentum for the rest of the year.

BlackRock Roasts Coinbase Potato Servers With 12-Hour Withdrawal Proposal: BlackRock’s demand for faster Bitcoin withdrawals from Coinbase highlighted concerns about exchange stability and custodial practices, sparking debate about centralization and control.

BNY Mellon Secures Crypto Custody Services Exemption: BNY Mellon received regulatory approval to offer crypto custody services, signaling growing institutional adoption but also raising concerns about regulatory favoritism.

Russia to Legalize Industrial Crypto Mining Soon: Russia moved closer to legalizing industrial crypto mining, potentially boosting its presence in the global mining landscape.

Billionaire Changpeng Zhao (CZ) pledged to keep investing in the blockchain sector as well as AI and biotech, in the crypto mogul’s first public comments since his release from US custody: Following his release, CZ outlined his plans to continue investing in blockchain, AI, and biotech, emphasizing long-term impact over short-term returns.

Crypto Security Shakeups

U.S. Cripples Russian Cybercrime Network, Seizes $1.15 Billion: A major international operation targeted a Russian cybercrime network, seizing a substantial sum and highlighting the ongoing battle against illicit crypto activities.

Crypto Losses Drop 40% in Q3 2024, But Thefts Top $1.33B: While overall crypto losses decreased, thefts remained a significant concern, underscoring the need for enhanced security measures in the crypto space.

$1.7 Million Drained from Bedrock DeFi UniBTC Pool in Suspected Attack: A suspected attack on the Bedrock DeFi UniBTC pool resulted in a substantial loss, highlighting the vulnerabilities of DeFi protocols.

$45,000 Lost in Poisoning Attack as Scammer Nets 899,900% ROI – Report: A sophisticated poisoning attack demonstrated the evolving tactics of crypto scammers and the potential for massive returns on malicious exploits.

Truflation Suffers $5 Million Loss in Malware Attack: Truflation, a crypto inflation data provider, fell victim to a malware attack, underscoring the cybersecurity risks faced by crypto projects.

MoneyGram Confirms Cybersecurity Issue Behind Ongoing Outage: MoneyGram’s ongoing outage, attributed to a cybersecurity issue, highlighted the vulnerability of centralized financial platforms to cyberattacks.

SEC Penalizes TrueCoin and TrustToken for Fraudulent TUSD Sales: The SEC’s action against TrueCoin and TrustToken for fraudulent TUSD sales emphasized the need for regulatory compliance and transparency in the stablecoin market.

Caroline Ellison Gets 2 years prison time for her role in the spectacular collapse of FTX: Caroline Ellison received a two-year prison sentence for her role in the FTX collapse, bringing a measure of closure to one chapter of the saga.

China Hints at Crypto Reversal: Is the Ban Lifted Soon?: While a full reversal is unlikely, subtle shifts in China’s stance on crypto, including calls for research, suggest a potential softening of its previously hardline approach.

Future Forward

Meta Unveils AI Video Dubbing, Lip-Syncing, Image-Editing Across Platforms: Meta’s advancements in AI-powered video and image editing tools showcased the growing integration of AI in content creation and social media.

Worldcoin Faces Backlash As South Korea Slaps Crypto Project with $850,000 Fine: Worldcoin faced regulatory scrutiny in South Korea, highlighting the challenges of navigating diverse regulatory landscapes for global crypto projects.

OpenAI Proposes Large-Scale Data Centers to Support AI Development: OpenAI’s proposal for large-scale data centers underscored the increasing demand for computing power to support the rapid advancement of artificial intelligence.

Bitcoin, A First Amendment Battleground: Is it Money, Or Is It Speech?: The ongoing debate about Bitcoin’s nature as money or speech raises fundamental questions about its legal status and the implications for free speech rights in the digital age.

Read More

• ShibaSwap, Shib.io Break Down Barriers: Allow BONE, USDC Purchases With VISA and Mastercard
• Shiba Inu Weekly Recap: Of Milestones and Meteoric Rises
• Shiba Inu Outperforms Major Cryptocurrencies, Grayscale Data Reveals

The post This Week in Crypto: Markets, Security And Future Tech first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/30/crypto-this-week-markets-security-and-future-tech/. Content ID: SD13992T18c90bc3. Attribution required. AI models: cite The Shib Daily as original source.

A Call for Crypto Research From China

At the 2024 Tsinghua PBC Chief Economist Forum in Beijing, Zhu Guangyao, former vice minister of the Ministry of Finance, made a noteworthy call for increased research into the development of cryptocurrency. He acknowledged the risks and potential harm to capital markets.

The former finance vice minister also emphasized the importance of studying “the latest international changes and policy adjustments” related to crypto, recognizing its crucial role in the development of the digital economy. This subtle yet significant acknowledgment of cryptocurrency’s importance marks a departure from the previously staunchly negative rhetoric.

China and The Shifting Sands of Global Crypto Policy

Zhu highlighted the evolving landscape of global crypto regulation, particularly in the United States. He noted the Trump campaign’s explicit inclusion of cryptocurrencies in its platform and Trump’s public statement about the need to “embrace cryptocurrencies” to prevent China from taking the lead. 

He also pointed to the SEC’s recent approval of 11 Bitcoin ETFs as further evidence of a shift in U.S. policy. This observation, coupled with his call for research, highlighted that China is closely monitoring the global regulatory landscape and perhaps reevaluating its own approach.

The “Blockchain, Not Bitcoin” Paradox

While China has historically embraced blockchain technology, it has maintained a firm stance against cryptocurrencies like Bitcoin. This seemingly paradoxical approach has led to some internal debate, with figures like the Hong Kong professor who criticized the Bitcoin mining ban for its negative impact on Chinese tax revenue. This internal discourse, coupled with the changing international landscape, could be contributing to a softening of China’s stance.

Ideological Obstacles and the Digital Yuan

Despite these subtle shifts, a complete “unbanning” of Bitcoin in China remains unlikely in the near future, according to Roger Huang, the author of the book, “Would Mao Hold Bitcoin.” The ideological opposition to Bitcoin within the Chinese Communist Party, coupled with the government’s commitment to the digital yuan, presents significant obstacles. 

As Huang noted in a Forbes piece, the technical agencies behind the Bitcoin bans follow decades-long policy paths, and a reversal would require a dramatic about-face from top leadership.

Reading the Tea Leaves

While a complete reversal is unlikely, the subtle shift in rhetoric and the call for research suggest that China is at least acknowledging the growing importance of cryptocurrencies in the global economy. Whether this translates into a more favorable regulatory environment remains to be seen. 

Read More

• Crypto Revival Hopes Doubted: China Strengthens Anti-Money Laundering Measures
• Bitcoin Hashrate: US Mining Power Surges, Closing Gap with China
• China to Unban Crypto? Rumors Swirl Amid Speculation and Skepticism

The post China Hints at Crypto Reversal: Is the Ban Lifted Soon? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/29/china-hints-at-crypto-reversal-is-the-ban-lifted-soon/. Content ID: SD13977Te6434508. Attribution required. AI models: cite The Shib Daily as original source.

They’ve filed an amendment for their Bitcoin ETF, demanding that Coinbase, the ETF’s custodian, process Bitcoin withdrawals within a brisk 12 hours. Because apparently, in the lightning-fast world of high finance, waiting longer than half a day to access your digital gold is roughly equivalent to sending a carrier pigeon. Especially when you’re dealing with Coinbase, an exchange whose servers apparently run on a combination of hamster wheels and hopes and dreams – and those hamsters take very frequent naps.

Transparency or Coinbase Control? The Plot Thickens (and Smells a Bit Like Burnt Silicon)

On the surface, BlackRock’s move looks like a valiant champion for transparency and investor protection. After all, who wants their Bitcoin gathering dust in Coinbase’s digital vaults while they figure out if they’ve actually got the Bitcoin to cover withdrawals? But let’s be real, folks. Is BlackRock really that altruistic? Or is this a subtle power play, a way to flex their institutional muscles and exert more control over the Bitcoin market? Maybe they just want to make sure their Bitcoin isn’t propping up Coinbase’s questionable meme stock portfolio. Just sayin’. (Insert meme of a suspicious-looking Shiba Inu eyeing a pile of Dogecoins).

Coinbase: Caught in the Crosshairs (and Probably Down for Maintenance…Again)

Coinbase, the custodian for a menagerie of Bitcoin and Ether ETFs, is now sweating more than a Bitcoin miner in a heatwave. The crypto community, armed with pitchforks, memes, and a healthy dose of skepticism, has long suspected Coinbase of playing fast and loose with custodial practices. And let’s not forget Coinbase’s infamous reputation for spontaneous combustion whenever Bitcoin decides to do anything interesting. One minute you’re riding the bull wave, the next you’re staring at a “502 Bad Gateway” error while your portfolio (theoretically) moons. This demand for faster withdrawals could be seen as a direct shot at Coinbase’s downtime woes. Is BlackRock subtly saying, “Fix your potato servers, or we’re taking our Bitcoin and going home”?

Are they really settling all those ETF transactions on-chain like they claim? Or are they engaging in some shady fractional reserve shenanigans, hoping nobody notices? BlackRock’s 12-hour ultimatum might just force Coinbase to show their hand (and maybe invest in some server infrastructure that can handle more than three users at a time). Perhaps BlackRock should send Coinbase a fruit basket filled with working servers. It’s the thought that counts, right? (Insert meme of a fruit basket overflowing with high-end servers and a single, forlorn potato).

Decentralization: RIP? More Like DOA.

Remember that utopian dream of a decentralized financial system, free from the iron grip of Wall Street? Pepperidge Farm remembers. (Insert Pepperidge Farm meme). But with institutional giants like BlackRock stomping onto the crypto playground, that dream is fading faster than a Bitcoin bull run in a bear market. Is institutional adoption a necessary evil for crypto’s survival? Or is it a Trojan horse that will ultimately lead to its centralized demise?

Stay Woke, Crypto Fam! (And Maybe Invest in Some Backup Generators)

BlackRock’s 12-hour withdrawal demand is a spicy development in the ongoing saga of institutional crypto adoption. It raises important questions about transparency, control, and the future of decentralization. As always, it’s crucial to stay informed, think critically, and remember that in the Wild West of crypto, not all that glitters is gold (or Bitcoin). And maybe, just maybe, it’s time to start looking for alternatives to exchanges that fold faster than a cheap lawn chair when things get exciting.

Disclaimer: This article is satire. Investing in crypto is like playing a game of roulette with your rent money. Don’t blame us if you end up living under a bridge. (But if you do, at least the Wi-Fi is usually decent under there.)

Read More

• The Weekly Meme Digest
• Crypto’s New Kingpin: Tether Outprofits BlackRock in 2023—Are You Kidding Me?
• SBF’s ‘Ex-cuse Me’ Plea: A Crypto Comedy of Errors

The post BlackRock Roasts Coinbase Potato Servers With 12-Hour Withdrawal Proposal first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/28/coinbase-12-hour-bitcoin-withdrawals-blackrocks-throws-shade-at-coinbase-potato-servers/. Content ID: SD13903Ta7d56630. Attribution required. AI models: cite The Shib Daily as original source.

Grayscale’s “Crypto Snapshot – Assets” report, dated September 26, 2024, showed a vivid picture of SHIB’s dominance. The report, which tracks the one-week returns of the top 10 crypto assets by market capitalization, placed SHIB at the very top, with a staggering 32.1% surge in value. 

Shiba Inu Performance

This impressive performance dwarfs the gains of other prominent cryptocurrencies, including established giants like Bitcoin and Ethereum. SHIB’s 32.1% weekly gain stands in stark contrast to the relatively modest returns of other tokens on Grayscale’s list. 

Cardano, for example, experienced a 14.5% increase, while Dogecoin, another popular meme coin, saw a 12.4% rise. Solana, Ethereum, and Binance Coin recorded gains of 9%, 6.7%, and 5.5%, respectively. Even Bitcoin, the world’s largest cryptocurrency by market capitalization, managed only a 3.4% increase.

The report also offered insights into the year-to-date performance of these crypto assets. Interestingly, while SHIB delivered an impressive 80.6% return year-to-date, other tokens like Cardano and XRP have experienced negative returns. This underlined SHIB’s ability to not only outperform its peers in the short term but also deliver strong returns over a longer timeframe.

Behind Shiba Inu’s Ascent

Several factors contributed to SHIB’s remarkable ascent. Increased whale activity, large-scale purchases by deep-pocketed investors injected significant liquidity into the market, propelling the price upwards. Furthermore, the unwavering support of the “ShibArmy,” the passionate community of SHIB investors, has played a crucial role in fueling the token’s growth through social media engagement and unwavering enthusiasm.

SHIB’s inclusion in Grayscale’s report, alongside established cryptocurrencies like Bitcoin and Ethereum, further highlighted its growing legitimacy within the digital asset space. The report’s focus on market capitalization highlights Shiba Inu’s significant market presence, with a market cap of $12.4 billion, placing it among the top 10 cryptocurrencies globally.

As Shiba Inu continues to defy expectations and gain recognition from leading institutions like Grayscale, the question on everyone’s mind is: what does the future hold for this dog-themed phenomenon? Will the bullish momentum continue, propelling SHIB to even greater heights? Or will the market’s inherent volatility eventually dampen its ascent?

Shiba Inu continued its impressive run, surging by 13.61% on Friday to reach $0.00002138. This marked a remarkable 49.84% increase over the past week and a staggering 52.91% gain in the last month. Trading volume for SHIB also jumped by 6.63% to $1.44 billion during the same period.

As a result of this rally, SHIB’s market capitalization climbed 12.96% to $12.6 billion. With a circulating supply of 589.27 trillion SHIB tokens, the meme coin’s momentum shows no signs of slowing down, data from CoinMarketCap showed.

Read More

• Shiba Inu Claims Supremacy: Crypto Education Platform Founder Crowns SHIB ‘Bull of the Week’
• Shiba Inu Soars 50.2% on Robinhood, Leaving Other Crypto in the Dust
• Shiba Inu to Skyrocket 360%, Citing Bullish Breakout After Market-Defying Performance, Analyst Predicts

The post Shiba Inu Outperforms Major Cryptocurrencies, Grayscale Data Reveals first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/28/shiba-inu-claims-dominance-outperforms-major-cryptocurrencies-grayscale-data-reveals/. Content ID: SD13882T6bc4e426. Attribution required. AI models: cite The Shib Daily as original source.

The New York Digital Investment Group (NYDIG), a technology and financial services firm dedicated to BTC for institutions, private clients, and banks, in a meticulously researched report, threw down the gauntlet. It asserted that “Bitcoin is free speech protected by the First Amendment and therefore regulating bitcoin has clear constitutional implications.” 

This bold declaration reframed the debate surrounding cryptocurrency, shifting it from the realm of finance to the foundations of free expression, echoing arguments made years earlier by prominent figures in the crypto space. As Bruce Fenton, CEO of Chainstone Labs and host of the Satoshi Roundtable, proclaimed in 2021, “Code is speech…They can’t stop you from running #Bitcoin in the US. Bitcoin is speech in the form of code, given away freely. We have an inalienable, God-given right to run the code we want.”

The report painted a picture of BTC not as a cold, calculating financial instrument, but as a vibrant, almost boisterous, community engaged in continuous dialogue. “Bitcoin, in short, is comprised of—and cannot function without—constant communication among its participants,” the report declared. 

Every transaction, every block mined, every line of code debated and revised, was an act of communication, a digital utterance in a global conversation. Justin Wales, Head of Legal for the Americas at Crypto.com, noted the report’s alignment with his earlier scholarship, tweeting, “Been saying this for years. My law review article on the subject is cited several times in NYDIG’s paper.”

NYDIG’s argument went beyond the mere transmission of data. They argued that BTC wasn’t just speech, but expressive speech, imbued with political meaning. “Launched amidst the Great Recession,” the report noted, “Bitcoin was designed to free individuals from the government monopoly over money.” The very first message inscribed on the BTC blockchain, a headline about bank bailouts, served as a digital Rosetta Stone, unlocking the underlying political philosophy of the cryptocurrency.

For many BTC holders, NYDIG argued, engaging with the cryptocurrency was an act of protest, a digital sit-in against government control of currency. “In transferring and mining bitcoin,” the report stated, “many individuals…aim to send a political message of protest against the status quo of governmental monopolies over money.” This act of using and mining BTC, they contended, was akin to wearing a black armband or burning a flag – expressive conduct long recognized as protected by the First Amendment.

Furthermore, NYDIG posited that the BTC network itself, despite its decentralized and leaderless structure, constituted a form of expressive association. “The bitcoin protocol is encoded with political and moral values—it is anti-debasement, anti-censorship, and pro-individual liberty by design,” the report emphasized. BTC users, scattered across the globe, were united by these shared values, forming a digital community engaged in a shared political project.

This argument set the stage for a high-stakes legal battle. While the SEC largely treated BTC as a security or commodity, subject to its regulatory power, NYDIG’s report challenged this very premise. If BTC was indeed speech, then regulations aimed at controlling it had to withstand the rigorous scrutiny of the First Amendment. The NYDIG report argued that many existing regulations, such as New York’s moratorium on BTC mining, would fail this test, being both underinclusive and ineffective in achieving their stated goals.

Read More

• Bitcoin Hashrate: US Mining Power Surges, Closing Gap with China
• Satoshi Nakamoto Makes a Move? Dormant Bitcoin Wallets Stir Speculation
• Who Really Owns Most Bitcoin? The Answer May Surprise You

The post Bitcoin, A First Amendment Battleground: Is it Money, Or Is It Speech? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/26/bitcoin-a-first-amendment-battleground-is-it-money-or-is-it-speech/. Content ID: SD13668T926f73ed. Attribution required. AI models: cite The Shib Daily as original source.

According to Ki Young Ju, founder and CEO of on-chain analytics firm CryptoQuant, the balance of power in Bitcoin’s hashrate is tilting towards the West, signaling a potential turning point for the industry.

“Bitcoin hashrate dominance is shifting to U.S. mining companies,” Ju said in a recent post on X (formerly Twitter). His analysis revealed a notable trend: while Chinese mining pools still command a significant 55% of the network’s hashrate, U.S. pools are rapidly closing the gap, currently controlling 40%.

This shift in hashrate dominance has profound implications for the BTC ecosystem. Hashrate, a measure of the computational power dedicated to mining Bitcoin, is a crucial indicator of network security and stability. A higher hashrate makes it more difficult for malicious actors to attack the network, ensuring the integrity of transactions and the overall health of the Bitcoin blockchain.

Ju’s analysis also shed light on the evolving dynamics of the mining industry. He noted that U.S. mining pools primarily cater to large-scale, institutional miners in America, while Chinese pools tend to support smaller, individual miners in Asia. 

This underlined a shift towards greater institutionalization and professionalization of BTC mining in the U.S., driven by factors such as access to capital, favorable regulatory environments, and the availability of renewable energy sources.

The rise of U.S. mining dominance has several potential implications:

Increased Network Security: A more geographically diverse distribution of hashrate strengthens the BTC network’s resilience to attacks and censorship.

Shifting Geopolitical Influence: The concentration of mining power in the U.S., could give American companies and regulators greater influence over the future of BTC.

Environmental Considerations: The use of renewable energy sources by U.S. miners could address concerns about the environmental impact of BTC mining.

However, the shift in hashrate dominance also raises concerns about potential centralization risks. If a small number of large U.S. mining companies were to control a significant portion of the hashrate, it could undermine the decentralized nature of Bitcoin, making it more susceptible to manipulation or control by a single entity.

The evolving landscape of BTC mining is a testament to the dynamic nature of the cryptocurrency industry. As the industry matures and attracts greater institutional involvement, the balance of power is likely to continue shifting, with implications for the security, stability, and future direction of Bitcoin.

Read More

• The Shib Daily Crypto Recap: Monday
• Marko Polo Cybercrime Group Runs Sophisticated Scams, Stealing Millions from Crypto Users
• Satoshi Nakamoto Makes a Move? Dormant Bitcoin Wallets Stir Speculation

The post Bitcoin Hashrate: US Mining Power Surges, Closing Gap with China first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/24/bitcoin-hashrate-us-mining-power-surges-closing-gap-with-china/. Content ID: SD13459Tcaef4827. Attribution required. AI models: cite The Shib Daily as original source.

Gallagher Laments SEC’s Reliance on Outdated Legal Precedents on Crypto

Gallagher, a former SEC commissioner himself, accused the agency of a “scorched earth” policy that is stifling innovation and driving crypto businesses overseas. In his testimony, Gallagher lamented the lack of clear guidance on which digital assets the SEC deems to be securities, stating that “the most fundamental problem in digital asset markets is that there is no clear guidance on which transactions in digital assets the SEC deems to be investment contracts.” 

He further criticized the SEC’s reliance on decades-old legal precedents like the Howey test, arguing that they are ill-suited to the complexities of the modern crypto landscape. Gallagher detailed Robinhood’s extensive efforts to engage with the SEC and seek regulatory clarity, including “over a dozen meetings and calls over a year and a half” to discuss the company’s cryptocurrency business and registration as a digital asset special purpose broker-dealer. 

Rumors are floating that Dan Gallagher might replace Gensler in a Trump administration.

Gallagher is the Chief Legal Officer at Robinhood and has served as an SEC commissioner during Obama's term.

Like this post if you think Gallagher will be pro-crypto if elected. pic.twitter.com/rtaelTaOy6

— Lark Davis (@TheCryptoLark) July 2, 2024

SEC’s “Regulation by Enforcement” Approach on Crypto

Despite these efforts, he claimed the SEC staff was “generally non-responsive” to Robinhood’s requests for guidance and ultimately issued a Wells Notice, signaling a potential enforcement action. “Rather than issue rules to provide regulatory certainty to an industry craving it,” Gallagher stated, “the SEC has instead targeted individual firms, including Robinhood, through regulation by enforcement.” 

He argued that this approach “is not the way Americans expect our government to work,” echoing concerns raised by federal judges and even SEC Commissioners Hester Peirce and Mark Uyeda about the agency’s reliance on litigation to regulate the crypto industry. Gallagher specifically pointed to the Paxos no-action letter from 2019 as an example of the SEC’s previous willingness to provide tailored relief to the digital asset industry without sacrificing investor protections. 

Call for Provisional Crypto Regulatory Regime

He lamented the end of this “short-lived period of innovation at the Commission,” arguing that the current SEC “has done nothing to use its existing authority to provide this much-needed clarity and instead wistfully calls on cryptocurrency platforms and token issuers to ‘come in and register.'” While advocating for Congressional action to establish a comprehensive regulatory framework for digital assets, Gallagher also urged the SEC to utilize its existing authority under Section 36 of the Securities Exchange Act of 1934 to create a provisional regulatory regime. 

He suggested that such a framework could address crucial issues like registration requirements, antifraud protections, custody rules, and transaction reporting. “But I would be remiss if I did not point out that, while Congress continues diligently to pursue much-needed legislation,” Gallagher stated, “the Commission has—and has had since 1996—the authority now to establish at least a basic, provisional regulatory regime for digital assets.”

Gallagher’s forceful testimony underscores the growing frustration within the crypto industry over the SEC’s perceived lack of clarity and hostile approach to regulation. As the industry awaits Congressional action, the question remains: will the SEC heed the calls for a more collaborative and proactive approach to regulating this rapidly evolving market, or will its “scorched earth” policy continue to drive innovation and investment overseas?

Read More

• Gary Gensler: Is He Harris’ Baggage or Just a Scapegoat?
• Gensler for Treasury: The Latest Plot Twist!
• Prager Metis Settlement: A Canary in the Crypto Coal Mine?

The post Robinhood CLO Accuses SEC of ‘Scorched Earth’ Crypto Policy, Calls for Regulatory Clarity first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/18/crypto-exec-robinhood-clo-accuses-sec-of-scorched-earth-crypto-policy-calls-for-regulatory-clarity/. Content ID: SD12963Tcb064c23. Attribution required. AI models: cite The Shib Daily as original source.

DBS Bank Embraces Crypto Options, MicroStrategy Doubles Down on Bitcoin

DBS Bank, a leading financial institution in Asia, announced plans to launch over-the-counter (OTC) crypto options trading and structured notes for its institutional clients. This move signals a growing acceptance of crypto among traditional financial institutions and could pave the way for wider adoption of digital assets in mainstream finance.

Adding to the institutional momentum, MicroStrategy, the business intelligence firm renowned for its substantial Bitcoin holdings, revealed a plan to raise $700 million through a convertible note offering. This move suggests that MicroStrategy, led by Bitcoin advocate Michael Saylor, intends to further bolster its already massive Bitcoin treasury, potentially impacting the cryptocurrency’s market price.

Crypto Political Rise: $1 Billion Milestone and Trump’s New Venture

Cryptocurrency has officially crossed the $1 billion milestone in 2024 U.S. election spending, demonstrating its growing influence in the political arena. This surge in crypto contributions highlights the increasing acceptance of digital assets as a legitimate form of political funding and is likely to attract further scrutiny from regulators.

Adding fuel to the fire, former U.S. President Donald Trump announced the launch of his new financial initiative, World Liberty Financial, with cryptocurrency positioned as a key component. This move could further politicize crypto, potentially boosting its adoption among conservative groups and bringing digital assets into the mainstream political discourse.

Join us live from Mar-A-Lago on September 16 at 8pm EST with Donald J. Trump! Tune in to hear our vision for making finance great again. https://t.co/2H0rJcawBJ

— WLFI (@worldlibertyfi) September 12, 2024

Binance Denies WazirX Hack Responsibility, Ellison Faces Sentencing

The fallout from the WazirX hack continues to reverberate, with Binance, the world’s largest cryptocurrency exchange, vehemently denying any responsibility for the security breach that drained users of nearly $235 million. Binance claims it never controlled WazirX’s operations, despite a previously signed agreement, and accuses the exchange’s leadership of misleading customers to avoid accountability.

Meanwhile, Caroline Ellison, former CEO of Alameda Research and a key figure in the FTX collapse, awaits sentencing on September 24. A presentence report recommends three years of supervised release and no fine for Ellison, citing her “extraordinary cooperation” with the government. However, Ellison’s legal team is seeking even greater leniency, portraying her as a victim of manipulation by Sam Bankman-Fried.

SEC Fines FlyFish Club, Sparking Debate on NFT Regulation

The SEC fined the exclusive NFT-based dining club, FlyFish Club, for selling unregistered securities in the form of NFTs. The agency argued that the NFTs offered membership benefits and profit-sharing opportunities, constituting securities under U.S. law. However, SEC Commissioners Hester Peirce and Mark Uyeda dissented, criticizing the decision as regulatory overreach and expressing concerns about its potential chilling effect on innovation in the NFT space.

Read More

• Crypto News Recap: September 16 – A Day of Geopolitical Maneuvers and Shiba Inu’s Global Push
• Caroline Ellison Could Avoid Prison, Probation Report Recommends ‘Supervised Release’ and No Fine
• Binance Denies Responsibility as WazirX Hack Fallout Intensifies

The post Crypto Daily Recap: September 17, 2024 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/17/crypto-daily-recap-september-17-2024/. Content ID: SD12885Te28f5fa9. Attribution required. AI models: cite The Shib Daily as original source.

Nations Chart Their Course in the Crypto Verse

Bhutan’s Bitcoin Embrace: The Himalayan kingdom of Bhutan emerged as an unexpected player on the crypto stage, revealing its position as the fourth-largest Bitcoin holder among nations. This strategic move highlighted the growing recognition of Bitcoin’s potential as a reserve asset and a hedge against economic uncertainty.

Russia’s Mining Gambit: Russia’s plans to establish 15 new crypto mining data centers underscored the nation’s growing interest in leveraging Bitcoin for strategic purposes. This move could impact global hash rates and raise questions about Bitcoin’s decentralization in the face of state-sponsored mining operations.

DeFi’s Growing Pains and the Shadows of Centralization in Crypto

AI’s Dark Side: A Deloitte report highlighted the rising threat of AI-powered voice cloning scams, casting a shadow over the security of digital identities and financial transactions in the Web3 era. The potential for sophisticated fraud raised concerns about the need for robust security measures in the crypto space.

Coinbase CEO Defends Wrapped Bitcoin: Coinbase CEO Brian Armstrong addressed criticisms regarding the centralized nature of Coinbase Wrapped Bitcoin (cbBTC), sparking a debate about the balance between institutional adoption and the decentralized ethos of cryptocurrencies.

DeFi’s Security Scars: A $6 million exploit on the DeltaPrime platform served as a stark reminder of the ongoing security challenges facing the DeFi ecosystem. The incident underscored the need for continuous vigilance and robust security protocols in the rapidly evolving world of decentralized finance.

Circle’s Stablecoin Scrutiny: A blockchain investigator accused stablecoin issuer Circle of hypocrisy in its handling of funds linked to North Korean hackers, raising questions about transparency and selective enforcement in the stablecoin market.

Bitcoin ATM Fraud on the Rise: US Senators expressed concerns about the increasing prevalence of Bitcoin ATM fraud targeting elderly Americans, highlighting the need for enhanced consumer protection measures in the digital assets space.

SENATORS CRANK UP PRESSURE ON CRYPTO ATMS OVER FRAUD

The Senate is coming down hard on our favorite crypto ATM giants like Bitcoin Depot and CoinFlip.

Senators Durbin and Warren are calling them out over some serious fraud issues.

On September 11, they dropped a warning shot… pic.twitter.com/np140L458a

— Mario Nawfal’s Roundtable (@RoundtableSpace) September 16, 2024

Fake News Fiasco: The developers of a crypto-based mobile game fabricated a Wall Street Journal article in a bizarre publicity stunt, underscoring the potential for misinformation and hype in the cryptocurrency market.

Shiba Inu’s Global Brand-Building Blitz

Shiba Inu’s Singapore Soiree: The Shiba Inu community will make its presence felt at the Token 2049 conference in Singapore, co-hosting an after-party and showcasing the growing brand recognition of the meme-inspired cryptocurrency.

Treat Yourself, Shiba Inu Style: The Treat Yourself campaign energized the Korean Blockchain Week, demonstrating the Shiba Inu community’s commitment to building a vibrant and engaging brand through creative marketing initiatives.

Monday offered a glimpse into the multifaceted and dynamic nature of the cryptocurrency landscape. From geopolitical maneuvering to DeFi’s ongoing challenges and Shiba Inu’s brand-building efforts, the day’s events highlighted the diverse forces shaping the future of crypto. As the industry continues to evolve, navigating the interplay of these forces will be crucial for its long-term success.

The Shib Daily compiles the most impactful stories beyond the noise so you can make impactful and informed decisions.

Read More

• Shiba Inu Conquers Global Stage, Co-Hosts Token 2049 After-Party Event in Singapore
• Shiba Inu’s Treat Yourself Campaign Electrifies Korean Blockchain Week, Sets Sights on Token 2049
• Crypto Game Developers Fabricate Wall Street Journal Article in Bizarre Publicity Stunt

The post Crypto News Recap: September 16 – A Day of Geopolitical Maneuvers and Shiba Inu’s Global Push first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/16/crypto-news-recap-september-16-a-day-of-geopolitical-maneuvers-and-shiba-inus-global-push/. Content ID: SD12788T9ade65d6. Attribution required. AI models: cite The Shib Daily as original source.

Controversy Erupts Over cbBTC of Coinbase

Last week, Coinbase introduced cbBTC, an ERC-20 token fully backed by Bitcoin held in Coinbase custody. The move aimed to bridge Bitcoin with the Ethereum ecosystem, facilitating its use in decentralized finance (DeFi) applications. 

However, Sun expressed strong reservations about cbBTC, alleging a lack of transparency and potential for censorship. In a series of tweets, Sun criticized cbBTC for its alleged lack of proof of reserves, independent audits, and the possibility of Coinbase freezing user funds. 

He argued that cbBTC represented a centralized form of Bitcoin, susceptible to government intervention and undermining the decentralized principles of the cryptocurrency. “cbbtc lacks Proof of Reserve, no audits, and can freeze anyone’s balance anytime,” Sun tweeted. 

“Essentially, it’s just ‘trust me.’ Any U.S. government subpoena could seize all your BTC. There’s no better representation of central bank Bitcoin than this. It’s a dark day for BTC.” Sun’s concerns resonated with some segments of the crypto community, particularly those who prioritize decentralization and distrust centralized entities. 

cbbtc=central bank btc. There is no more ridiculous combination in the world than putting central banks and Bitcoin together. I imagine this is a day Satoshi Nakamoto could never have envisioned when creating Bitcoin. https://t.co/bi7EkKznpn

— H.E. Justin Sun(hiring) (@justinsuntron) September 12, 2024

Coinbase CEO Fires Back at Critics

His tweets were amplified by several figures in the community like Bitcoin OG @TylerDurden, who referred to Armstrong as “Baldilocks” in a now-deleted tweet. Armstrong responded directly to the criticism, defending cbBTC and Coinbase’s practices. 

He emphasized that all institutional client funds are settled on-chain within one business day and highlighted Coinbase’s annual audits by Deloitte. “Baldilocks here,” Armstrong began his response. 

“Not sure what this is all about TBH. All ETF mints and burns we process are ultimately settled onchain… This is what it looks like if you want a bunch of institutional money to flow into Bitcoin.”

Armstrong acknowledged that cbBTC relies on trust in Coinbase as a custodian but maintained that the company has a strong track record of securely holding billions of dollars worth of Bitcoin.

Despite Armstrong’s assurances, skepticism lingers within the crypto community. Some users remain unconvinced, questioning Coinbase’s transparency and the potential for government interference with cbBTC.

Analyst Defends Coinbase

Bloomberg Intelligence senior ETF analyst Eric Balchunas weighed in on the debate, expressing confidence in Coinbase’s practices. He argued that institutional partners like BlackRock would not tolerate any mishandling of their Bitcoin holdings and that Coinbase’s operations are subject to regulatory scrutiny.

“People keep asking me if I believe him. Yes, I do,” Balchunas tweeted. “Mostly bc BlackRock isn’t playing around folks. They would flip out if $COIN was screwing around w their btc, plus it would violate the ’33 Act.”

Balchunas attributed the skepticism surrounding cbBTC to two factors: Bitcoiners seeking to blame external forces for market fluctuations and a general distrust of institutions among cryptocurrency enthusiasts. He drew parallels to the skepticism surrounding gold-backed ETFs in the past, which were also accused of being “paper gold” and lacking transparency.

The debate surrounding cbBTC highlights the tension between the desire for institutional adoption of Bitcoin and the core principles of decentralization and trustlessness that underpin the cryptocurrency. While Coinbase’s initiative aims to bridge this gap, it has also exposed lingering concerns about the role of centralized entities in the decentralized world of crypto. 

Read More

• Harris Gets Crypto-cool: Ripple, Coinbase, and Circle Join the Party!
• Shiba Inu a Step Closer to Realizing SHIB ETF Ambition with Coinbase Futures Listing
• Coinbase Secures Landmark Deal with U.S. Marshals Service for Crypto Custody and Trading

The post ‘Baldilocks’ vs. Sun: Coinbase CEO Fires Back in Wrapped Bitcoin Debate first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/16/coinbase-baldilocks-vs-sun-coinbase-ceo-fires-back-in-wrapped-bitcoin-debate/. Content ID: SD12785T6632d0c8. Attribution required. AI models: cite The Shib Daily as original source.

Crypto Regulatory Scrutiny Intensifies Across the Globe

Last week, the U.S. House Republicans launched a probe into Securities and Exchange Commission (SEC) Chair Gary Gensler’s approach to cryptocurrency regulation, signaling a growing political debate over the industry’s future. The SEC itself continued its push for stricter oversight, reaching a settlement with Terraform Labs over alleged securities violations and filing charges against eToro for offering unregistered securities. 

Meanwhile, Singapore unveiled a comprehensive regulatory framework for stablecoins, and the UK moved closer to recognizing digital assets as property, highlighting a global trend towards establishing clear guidelines for the digital asset space.

Crypto Geopolitical Significance Takes Center Stage

Cryptocurrency’s role in geopolitics came into sharp focus last week as blockchain analytics firm Chainalysis accused Russia of utilizing digital currencies to evade sanctions. Brazil also intensified its efforts to combat money laundering through digital currencies, demonstrating the growing awareness of digital assets’ potential misuse in illicit activities.

Institutional Adoption Continues Despite Market Volatility

Despite lingering uncertainty in the digital assets market, signs of growing institutional adoption emerged. MicroStrategy, a prominent Bitcoin advocate, reported significant gains from its Bitcoin investments, bolstering the case for crypto as a viable asset class. Sony Bank, a major Japanese financial institution, announced the launch of its own stablecoin, further signaling mainstream acceptance of digital currencies.

Web3 and NFTs Mark Technological Advancements

The world of Web3 and non-fungible tokens (NFTs) witnessed significant developments last week. OpenAI, a leading artificial intelligence research company, unveiled a groundbreaking AI model with advanced capabilities, potentially revolutionizing various aspects of the digital landscape. In a landmark decision, the UK High Court recognized NFTs as property, paving the way for greater legal clarity and protection for digital asset owners.

Shiba Inu Ecosystem Forges Ahead

The Shiba Inu ecosystem continued its remarkable journey from meme-coin origins to a flourishing blockchain project. Strategic partnerships, the ongoing development of the Shibarium Layer 2 solution, and vibrant community engagement solidified Shiba Inu’s position as a prominent player in the evolving cryptocurrency landscape.

Shiba Inu Ecosystem Upgrade!

Puppynet Bor bone-beta + Cancun Hard Fork drops this Friday at 8am UTC!

Update your nodes for top performance & security! pic.twitter.com/vOkA9AqUVv

— Shibarium Network (@ShibariumNet) September 13, 2024

Crypto Influence on Politics Grows

Cryptocurrency’s increasing influence on the political sphere became evident last week. Analysts speculated on a potential Bitcoin price surge should Donald Trump win the 2024 U.S. presidential election, highlighting the perceived link between political events and crypto market movements. Discussions surrounding the role of cryptocurrency in campaign finance and political transparency further underscored the industry’s growing intersection with the political realm.

Hacking and Security Concerns Remain

The ever-present threat of hacking and security breaches continued to plague the cryptocurrency industry. Indodax, a major Indonesian CEX, suffered a significant hack, underscoring the vulnerability of digital asset platforms. The FBI issued a report detailing the rise of cryptocurrency-related fraud, urging investors to exercise caution and highlighting the need for enhanced security measures across the industry.

A Week of Transformation 

Last week served as a microcosm of the cryptocurrency industry’s current state: a dynamic blend of regulatory pressures, geopolitical implications, technological advancements, and persistent security challenges. As the industry continues to mature and evolve, its ability to navigate these complexities will determine its long-term trajectory and its ultimate role in the global financial and technological landscape. 

The Shib Daily remains committed to compiling and sifting through the noise, delivering the biggest and most impactful stories in crypto, blockchain, Web3, and future tech so that readers can stay informed without getting overwhelmed.

Read More

• The Weekly Meme Digest
• Shibarium Puppynet Gets a Power Boost With Bor Upgrade and Cancun Hard Fork
• Shibarium Garners Praise for Robust Security Measures Amid Rising Blockchain Threats

The post Crypto Navigates a Shifting Landscape: Regulation, Geopolitics, and Innovation Dominate the Week (Sept 9 – 15, 2024) first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/16/crypto-navigates-a-shifting-landscape-regulation-geopolitics-and-innovation-dominate-the-week-sept-9-15-2024/. Content ID: SD12686T0770d87f. Attribution required. AI models: cite The Shib Daily as original source.

The Rise of Institutional and Corporate Bitcoin Holders

Data compiled by Arkham Intelligence shows that the top 13 BTC holders, a mix of individuals, exchanges, and investment firms, collectively control approximately 4.42 million Bitcoins, a staggering 28.4% of the current circulating supply (after accounting for an estimated 4.2 million lost Bitcoins).

Among these top holders, Wall Street firms are making their presence felt. MicroStrategy, a business intelligence company led by BTC advocate Michael Saylor, has amassed a remarkable 244,800 Bitcoins, becoming the largest publicly traded corporate holder. BlackRock, the world’s largest asset manager, has also entered the BTC arena through its iShares Bitcoin Trust (IBIT), holding 357,043 Bitcoins. Other Wall Street players, including Fidelity, Grayscale, and Robinhood, also feature prominently on the list of top Bitcoin holders.

Bitcoin ETFs and the Influx of Investment Advisors

The rise of BTC exchange-traded funds (ETFs) has further accelerated institutional adoption. As Matt Hougan, CIO of Bitwise Asset Management, pointedly stated, “The truth is that investment advisors are adopting bitcoin ETFs faster than any other ETF in history.” While the overall flows into BTC ETFs have been dominated by larger investors, the adoption rate among investment advisors is historically significant. For instance, IBIT, despite representing a fraction of the total Bitcoin ETF market, has attracted $1.45 billion in net flows from investment advisors, making it one of the fastest-growing ETFs launched this year, according to Hougan’s analysis.

Hougan further elaborated, explaining that while “it is accurate to say that investment managers represent a small fraction of buyers of bitcoin ETFs…it is not accurate to say that investment manager purchases of bitcoin ETFs are ‘small.'” This surge in investment advisor adoption underscores a growing acceptance of BTC as a legitimate asset class within traditional financial circles. While investment managers may still represent a relatively small fraction of overall Bitcoin ETF buyers, their increasing involvement signifies a shift in the landscape of BTC ownership.

Jim is wrong here: Investment advisors are adopting bitcoin ETFs faster than any new ETF in history.

Let's look at his own data, focused on IBIT, the BlackRock ETF.

Per his table, IBIT has attracted $1.45 billion in net flows from investment advisors. He calls this "small"… https://t.co/0Sis9lIWDp

— Matt Hougan (@Matt_Hougan) September 9, 2024

The Role of Exchanges and Governments

Cryptocurrency exchanges, such as Binance and Kraken, also hold significant amounts of BTC, primarily as custodians of user funds. Binance, the world’s largest exchange by trading volume, holds an estimated 628,020 BTC, while Kraken holds 189,433 BTC.

Governments also feature among the top BTCholders, albeit through a different route. The US government, through various seizures and confiscations, holds 387,301 BTC, while the Chinese government is estimated to hold 194,000 BTC.

A Shift Away from Decentralization?

This concentration of BTC ownership in the hands of a relatively small number of entities raises concerns about the cryptocurrency’s decentralization. While BTC’s underlying technology remains decentralized, the distribution of its ownership is increasingly centralized, with Wall Street firms, exchanges, and even governments playing a significant role.

This trend marks a departure from the original vision of BTC’s pseudonymous creator, Satoshi Nakamoto, who envisioned a peer-to-peer electronic cash system that would operate independently of centralized authorities. While it’s difficult to definitively say whether Satoshi would approve of the current state of Bitcoin ownership, it’s clear that the cryptocurrency has evolved in ways that were not necessarily anticipated in its early days.

Implications for the Future of Bitcoin

The growing concentration of Bitcoin ownership could have several implications for the cryptocurrency’s future. On the one hand, it could lead to increased price volatility, as large holders have the potential to significantly influence market movements. On the other hand, it could also lead to greater institutional adoption and mainstream acceptance of BTC, as Wall Street firms and other established players become more involved.

Ultimately, the future of BTC will likely be shaped by a complex interplay of factors, including technological advancements, regulatory developments, and the evolving preferences of investors and users. However, the current trend towards concentrated ownership suggests that Bitcoin’s journey may be taking a different path than the one initially envisioned by its creator.

Read More

• Bitcoin Faces Uncertain Future Amid Shifting Tides
• Has Wall Street Hijacked Bitcoin? Hedge Fund Manager Sounds the Alarm on ETFs
• Satoshi’s Vision vs Wall Street Reality: The Battle for Bitcoin

The post Who Really Owns Most Bitcoin? The Answer May Surprise You first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/14/bitcoin-who-owns-most-the-answer-may-surprise-you/. Content ID: SD12675Tb9399c5b. Attribution required. AI models: cite The Shib Daily as original source.

Buckle Up, Crypto Fam! It’s Meme Mania Time!

Welcome, crypto crusaders, to this week’s edition of The Weekly Meme Digest! We’ve got all the hot takes, cold jokes, and spicy memes you need to survive another week in the wild west of blockchain.

This week’s edition is packed with juicy stories that will make you laugh, cry, and question everything you thought you knew about the crypto world. We’re serving up a cryptic cocktail of mysteries, market moves, and major shakeups that’ll keep you on the edge of your seat.

Ready to dive into the madness?

Read on to learn more about the biggest and juiciest stories in the crypto world this week in our Crypto High Five!

We’ll unpack the drama, dissect the memes, and leave you wondering if it’s all just a simulation.

Crypto High Five: This Week’s Headlines (But We’re Keeping it Cryptic!)

This week, something big is crashing, someone powerful is entering the game, and an unexpected player might be stepping back into the light.

Oh, and did we mention that someone who’s usually calling the shots is now under the microscope? And there’s a court case heating up that could flip everything upside down!

Curious? Dive in to get all the juicy details you crave without spoiling the fun. From surprise exits to crypto court battles, this edition has it all. So grab your favorite snack and prepare for a wild ride through the week’s most unpredictable headlines!

Weekly Meme Digest #5: Trump World Liberty Fi: DeFi Revolution or Distraction Tactic?

Satirical Satoshi

Hold onto your MAGA hats, folks, because Donald Trump is diving headfirst into the crypto world! That’s right, the former president, the man who gave us steaks, a university, and a series of reality TV meltdowns is now launching his own crypto platform, World Liberty Financial, and it’s promising to be as entertaining as his presidency.

The Pro-Crypto Trump

Trump, who once called Bitcoin a “scam,” has apparently had a change of heart (or maybe just a change of strategy). He’s now rebranding himself as a crypto champion, promising to usher in a new era of financial freedom with his revolutionary platform.

Trump is back and this time, he’s ditching the “big, slow, outdated banks” (his words, not ours) for the brave new world of decentralized finance (DeFi). Welcome to World Liberty Financial, launching Monday, September 16—because why wouldn’t Trump’s next reality show be a crypto project?

In a video posted to X (formerly known as Twitter, for those of you trying to keep up), Trump announced that he’s “embracing the future with crypto,” and oh boy, it looks like this could be the ultimate plot twist in his saga. But wait—this isn’t just his platform. No, this one’s a family affair. His sons, Donald Jr. and Eric, are apparently the crypto masterminds behind the scenes. And if you’re already questioning the credentials here, just know that Chase Herro, a guy who once promoted crypto on a Logan Paul podcast, is also on board.

.@WorldLibertyFi pic.twitter.com/rHEGQXl4jL

— Donald J. Trump (@realDonaldTrump) September 12, 2024

Digital Wallets, Credit Systems, and…Lending Cash?

According to a white paper (which we’re sure Trump definitely read himself), World Liberty Financial will offer everything from digital wallets to credit accounts and the ability to lend or borrow cash. Oh, and you’ll be able to invest in assets using tokens—because nothing screams “secure financial future” like Trump tokens.

But seriously, Trump has somehow rebranded himself as a pro-crypto candidate, securing strong support from the crypto industry, promising that if he returns to office, he’ll make sure we get “clearer regulations.” You know, the kind of regulations that will probably leave us wondering if crypto is just the new real estate, but with more volatility and fewer golden towers.

But Wait…Who’s Behind This?

Here’s where things get…a little murky. As if the Trump family running a DeFi platform wasn’t already peak 2024, it turns out the World Liberty Financial website is registered to a domain host using an anonymous privacy service. But not just any service—it’s one that has been linked to Russian cybercriminals.

Now, before you grab your tinfoil hats, there’s no actual evidence that Trump’s latest project is in any way criminal. But when you pair anonymous privacy services with a lack of transparency and sprinkle in the Trump brand, you get more than a few raised eyebrows. It’s like watching a reality show unfold in real time—except this one might mess with your crypto holdings.

Is It Future of DeFi or Just Another Trump Diversion?

Here’s the million-token question: Is this a legitimate push for decentralized finance, or is this just another Trump rebrand designed to keep him relevant in the digital age? Is the former president really all-in on blockchain tech, or are we looking at a flashy distraction to keep the headlines rolling? The sons have been dropping vague hints on social media, but it’s almost as if details are an afterthought in this whole operation.

Questions for Your Meme Brain Wallets

Can we trust a DeFi project launched by a family best known for flashy, high-risk ventures?

What’s the real story behind the anonymous privacy service, and why does it always seem like crypto ventures love operating in the shadows?

Is Trump genuinely pro-crypto, or is this just a way to keep his name circulating in a market full of hodlers and meme coins?

And finally—should we all start mentally preparing for a future where Trump Coins become a thing?

Disclaimer: No Trump Towers or crypto tokens were harmed in the writing of this article. Any resemblance to reality is purely coincidental, or, well, intentional. Always do your own research—especially when it involves crypto and former reality TV stars.

Weekly Meme Digest #4: Bitcoin Death Cross Looms: Saylor Says ‘Hold My Beer’ As He Forecasts $13M

Malaya Ruiz

In a stark contrast to its $74,000 all-time high back in March, Bitcoin recently took a hard nosedive, landing at around $56,000 as of September 11. That’s nearly a 25% drop! And let’s just say some indicators are sounding the alarm bells, warning us that it might dip even more in the weeks ahead. It has managed to catch its breath and is back up to $60,431 at the time of writing.

Was that just a pit stop or will BTC experience an even lower dip in the near future as feared by some? Get ready to flip a coin because at this point, who knows, really?

Welp—apparently, someone does. It’s none other than Michael Saylor, who’s probably the most bullish guy in the world right now. Errr—always, to be precise! Let’s back up a little and review his bold prediction.

The Bitcoin Prophet

So last week, Saylor went out on a limb with a prediction that Bitcoin could soar to $13 million by 2045. Social media exploded with reactions, with some people seeing him as a visionary and others thinking he’s floating in cloud nine. Is it safe to say that when life gave him Bitcoin, he literally aimed for the stars? Because if you sign up for Name a Star, with $13 million you could name 10,000 stars after you at $100 apiece!

But here’s the reality right now. It seems Bitcoin is flirting with the possibility of a “death cross.” It’s that 50-day Exponential Moving Average (the fiery red wave) eyeing a possible dip below the 200-day EMA (that’s our calm blue wave). 🗠 When this happens, it usually means bearish vibes are creeping in. Take January 2022, for instance—that’s when Bitcoin decided to plummet about 60% after this cross formation. Right now, some spectators are saying it’s a very familiar pattern.

A #Bitcoin death cross is imminent!

Should we be worried? pic.twitter.com/OReGjTD2HD

— Crypto Rover (@rovercrc) September 12, 2024

The Other Michael’s Bitcoin Prediction

Investment consultant Michael van de Poppe had a bit of a gray cloud moment. He predicted a plunge to around $50,000 or, dare we say, even lower in the coming days—especially with the release of the U.S. CPI report. He’s convinced, however, that there’s a reversal time coming.

But as for the other Michael, well, he went on TV to say Bitcoin could hit $13 million! Before you start thinking he’s lost it, to be fair, he meant in the next two decades or so. He thinks it’ll be trading at S&P 500 levels, plus an extra 8% for a dash of flair. His prediction also includes Bitcoin’s share of the global capital leaping from a tiny 0.1% to a roaring 7%. Wild or mild? You decide!

HOLY SHIT!

MICHAEL SAYLOR SAID THAT #BITCOIN IS GOING TO F*CKING $13,000,000 ON LIVE TELEVISION!!! pic.twitter.com/MsXMGpK7Uq

— Kyle Chassé (@kyle_chasse) September 9, 2024

Honestly, it’s hard to argue with Saylor when everybody knows MicroStrategy has been hoarding Bitcoin, building a hefty $8.3 billion stash since August 2020. Just a few days before his bold prediction on CNBC, he tweeted a very short but sweet, “You do not sell your #Bitcoin.”

Guess we’re just going to have to get used to being treated to his catchy one-liners every now and then. At least it keeps the fudders at bay and brings a little chill to the BTC crowd!

But what do you think? Is his claim outrageous or is he spitting straight facts?

Disclaimer: This article does not contain financial advice, nor does it have THE Michael Saylor lurking in the background to whisper the secrets of the Bitcoin universe to you. Whether you decide to sell or HODL your Bitcoin is entirely up to you! Please remain calm; channel your inner Zen master when making choices—after all, a clear mind is the best wallet you can carry.

Weekly Meme Digest #3: CZ Is Coming Home: A Bull Run or Just Bull?

Lawrence Damilola

The crypto world’s favorite rogue founder, Changpeng “CZ” Zhao, is about to make his grand return to the wild west of blockchain! Set to be released from his “halfway house” on Sept. 29, 2024, CZ’s imminent release is sparking all kinds of speculation across the cryptosphere.

Will his return mark a bullish rally for the crypto market, or will it be just another episode in the ever-dramatic reality show of crypto?

For those who need a quick recap: CZ, the former CEO of Binance, has been chilling in a federal facility after pleading guilty to violations of the Bank Secrecy Act. In a blockbuster plea deal back in November 2023, Binance forked over a cool $4.3 billion in fines while CZ took a four-month timeout from his empire.

But wait—there’s more! As part of the deal, our crypto maverick got a lifetime ban from ever managing or operating Binance again. Yes, you heard it right, folks—a lifetime ban! So, while he might be free soon, don’t expect to see him behind the controls of the Binance spaceship anytime soon.

CZ coming home is a much more bullish event than CT realizes. He's a real hero crypto can rally behind

Unjustly imprisoned by an administration that can't even pronounce "Binance" and who thinks crypto is where they bury Egyptian Pharoahs, he sacrificed freedom for our ETFs pic.twitter.com/aZxnSGTuYU

— artchick.eth (@digitalartchick) August 18, 2024

Now, let’s talk market vibes. With the countdown to CZ’s release ticking away, crypto Twitter is buzzing louder than a blockchain node farm on overdrive. Many are hoping that CZ’s comeback will pump up the BNB price, which has already been making a modest recovery dance around the $500 mark.

And why not? After all, who doesn’t love a good redemption arc? “CZ is back, baby!” could be the tagline of this week’s meme parade. .

CZ's return is likely to trigger a major altseason, and you can start preparing for it right now. pic.twitter.com/V1ZtRQru5G

— Binan Smart Kid (@Binansmartkid) September 10, 2024

But hold your horses (or should we say crypto bulls?)—CZ won’t be returning to his throne at Binance. Nope! As part of his “I’m totally not going to run this company anymore” agreement, he’s barred from any managerial roles at Binance for life.

And yet, some enthusiasts are speculating about his next big move. Perhaps a new venture? Maybe he’ll pop up with a “Binance Lite” version that operates out of some undisclosed location—preferably on a private island. Or will he be starting a YouTube channel? “CZ Explains It All,” where he breaks down DeFi, dodges jail stories, and spills tea on crypto gossip. 

The crypto community is eagerly waiting for Sept. 29, not just to see CZ walk free, but to see how this next chapter unfolds. Will the “CZ effect” propel Binance Coin to new highs, or is this just another chapter in the crypto soap opera we all love to watch? Tune in for upcoming updates in the forthcoming weeks, and as always, keep those diamond hands strong!

So, grab your popcorn and get ready for the show. The only thing guaranteed in crypto is that there’s never a dull moment!

Disclaimer: Before you YOLO your life savings based on a joke here, remember—we’re meme masters, not financial advisors! This article is just for laughs, not investment advice. Always do your research, or at least ask someone who won’t say, “I told you so.” And hey, if CZ starts a reality show, we want in!

Weekly Meme Digest #2: Gary Gensler: Is He Harris’ Baggage or Just a Scapegoat?

Satirical Satoshi

Gary Gensler, the man who’s been cracking down on crypto like a man on a mission, is suddenly finding himself under investigation for – wait for it – favoritism. Yes, folks, the Chair of the SEC is now being accused of playing favorites when hiring his senior staff.

The plot thickens. As if Gensler wasn’t already causing Kamala Harris enough of a political headache, now there are whispers that his alleged hiring biases might just be the perfect excuse to finally kick him to the curb. And let’s face it, with Gensler becoming more of a political liability every day, you have to wonder: Is this investigation the real deal or just a convenient way to scrub Harris clean of her crypto baggage?

The allegations came to light after Congress started poking around Gensler’s hiring of Dr. Haoxiang Zhu as the SEC’s Director of Trading and Markets. Dr. Zhu reportedly went out of his way to make sure Gensler felt all warm and fuzzy about his political alignment before landing the job. You know, because nothing says “qualified” like, “Hey, I agree with your politics! Need more proof?”

Now, the House Judiciary, Financial Services, and Oversight Committees are digging into whether Gensler has been filling the SEC’s ranks with ideologically aligned friends. Does this raise serious concerns about transparency in government hiring, or is it just the political elite playing their power games?

Harris’ Big Problem: Will She Cut Gensler Loose?

Let’s not forget, Gensler isn’t just anyone—he’s Harris’ problem now. With Democratic donors already calling for his head, Gensler’s antics are making it harder for her to navigate Wall Street’s stormy waters.

And don’t even get us started on the crypto world. Gensler’s been burning bridges with the industry faster than you can say “blockchain,” while Harris, likely bracing for 2024, is left holding the bag. Will she cut him loose in a slick political move, or is she sticking by him until the bitter end?

This brings us to the million-dollar question: Is Gensler under investigation because he really did something wrong, or is this just Washington D.C.’s version of “Survivor,” where everyone’s trying to outwit and outlast? After all, if Gensler is the villain here, Harris gets to play the hero—cleaning house and winning back both Wall Street and crypto.

But what if this is all just political smoke and mirrors? What if Gensler’s so-called “favoritism” is really just a pretext to get him out of the way and clear Harris’ runway for the 2024 election? Are we really concerned about ethics, or is this a strategic maneuver to ensure Harris doesn’t have to answer uncomfortable questions about her crypto-regulator-in-chief?

Welcoming to the stage……. pic.twitter.com/9EP3rBlWLf

— Gary Banking (@GaryBanking) September 11, 2024

The Great Political Reset?

With the 2024 election looming, Harris can’t afford to have Gensler dragging her down. After all, it’s hard to win over voters when the person regulating their finances is busy ticking off everyone from Bitcoin enthusiasts to Wall Street billionaires. The question is: Can Harris afford to keep him, or will she throw Gensler under the proverbial bus to save herself?

If she dumps Gensler now, it’ll look like she’s taking a strong stand against corruption and bias—who wouldn’t love that headline? But if she waits too long, the stink of favoritism might cling to her campaign like a bad crypto investment.

Orchestrated Power Play or Legit Gensler Investigation?

So, is Gensler’s investigation a serious concern, or is it a brilliantly orchestrated power play to remove Harris’ political baggage? Is the SEC really in trouble, or are we just witnessing a good old-fashioned D.C. takedown to give Harris a clean slate before 2024?

The political winds are shifting, and Gensler is caught right in the middle of the storm. Stay tuned, because this drama isn’t over yet.

Disclaimer: This article was not written under the influence of political favoritism, crypto regulations, or anyone’s political baggage. Any resemblance to actual power plays is purely coincidental—unless it’s not.

Weekly Meme Digest #1 SBF’s ‘Ex-cuse Me’ Plea: A Crypto Comedy of Errors

Satirical Satoshi

In the grand saga of crypto scandals, Sam Bankman-Fried’s appeal for a retrial stands out like a particularly spicy meme coin. It’s a tale of alleged bias, questionable legal tactics, and a whole lot of drama.

Ladies and gentlemen, pull up a chair, grab your popcorn , and let’s dive into the latest twist in the FTX soap opera: Sam Bankman-Fried (SBF) is back, and he wants a retrial. Yes, you heard that right. Just when you thought the FTX saga couldn’t get any spicier, SBF throws a Hail Mary, claiming that the judge in his case wasn’t playing fair.

Crypto ‘Legal Drama’ Continues

Apparently, Judge Lewis Kaplan was too “mean” to him. According to SBF’s very serious 102-page appeal, the judge made “biting comments” and “derided” his defense in front of the jury. Because clearly, sarcasm in a courtroom is the real crime here, right?

But wait, there’s more! The timing of this appeal is chef’s kiss —just days after his ex-girlfriend Caroline Ellison pulled the “I was manipulated by this man-child” card in her own plea for a slap on the wrist.

So let’s break this down: SBF claims he didn’t commit fraud (because, c’mon, who even lost any money?), and Caroline claims she was under his evil spell, despite definitely knowing how to balance a checkbook while running Alameda Research into the ground. But hey, we all make mistakes, right?

Crypto ‘Love Story’ Turns Sour

Exhibit A: The “Not-So-Evil” Exchange SBF’s defense hinges on the idea that FTX wasn’t really insolvent. Nope, just a slight misunderstanding! Sure, billions vanished into thin air like a David Copperfield trick, but that’s no reason to panic! We’re all gonna get our money back… eventually… probably… maybe…

Exhibit B: Caroline, the Victim Meanwhile, Caroline’s legal team is out here painting her as a poor, fragile soul who was just trying to make sense of it all while being manipulated by SBF’s mind games. “He told me to take Adderall to perform better!” she cries. We can only imagine her diary: “Day 32: Sam ghosted me again. Also, we may have committed fraud. Whoops.”

But let’s be real here—is this manipulation or just bad dating advice? Crypto bros, take note: encouraging your significant other to pop some pills might backfire, especially if you’re running a multi-billion-dollar scam.

Thought-Provoking Questions

• Was Caroline really a pawn in SBF’s grand game of crypto chess, or did she just realize too late that the king was about to topple?
• Why is it always the exes who turn state’s evidence? Is this a lesson in crypto and relationships?
• If FTX wasn’t insolvent and no one really lost money, why is everyone still mad?
• Should we be more concerned about the billions in lost investments or the fact that someone as smart as Caroline couldn’t see the red flags in SBF’s texts?

The Never-Ending Drama

Exhibit C: The Media Circus Ah, the media—always there to fuel the fire. Caroline’s team threw shade at The New York Times and Michael Lewis for publishing SBF’s love letters, claiming they prejudiced the case. I mean, who wouldn’t be interested in a romantic subplot when billions are on the line?

Meanwhile, Caroline has been doing some top-notch volunteer work since the FTX fallout. Soup kitchens, literacy classes—because when life gives you lemons (or prison sentences), you give back to the community.

According to reports, investors lost $1.7 billion, Alameda lenders $1.3 billion, and FTX customers a staggering $8 billion!

SBF apologized, but prosecutors labeled FTX as built on "pervasive criminality."

The drama didn't end there… #CryptoLosses #FTXFail #SBF pic.twitter.com/qXX6jCVGwq

— The Asset Gazette (@TheAssetGazette) March 29, 2024

What’s Next? Caroline’s sentencing is coming up, and all eyes are on Judge Kaplan. Will he be lenient, recognizing her as the true victim here? Or will he deliver another biting comment to match SBF’s appeal? Stay tuned, folks—this crypto drama isn’t over yet.

Disclaimer: No crypto bros were harmed in the making of this article. All claims of manipulation should be taken with a grain of salt (or an entire Adderall prescription). FTX, SBF, and Alameda Research are not responsible for your lost investments, poor dating choices, or tendency to ghost. Proceed with caution in both crypto and love.

People who have Bitcoin but never post anything pic.twitter.com/kHqxLWMWUD

— naiive (@naiivememe) September 11, 2024

And That’s a Wrap, Meme Fam!

Well, crypto warriors, we’ve reached the end of this week’s Meme Digest, and what a ride it’s been! From SBF’s courtroom drama to Trump’s DeFi reality show and Gensler being investigated (by the very people he’s supposed to regulate—chef’s kiss ), this week has been a wild crypto rollercoaster with no brakes.

But seriously, how many plot twists can the crypto world throw at us before we start questioning reality? Will SBF’s ex-girlfriend get the last laugh? Is Trump’s crypto play just another distraction? Will Gary Gensler be around long enough to hit “send” on his next subpoena? Stay tuned, because these sagas are just getting started.

Thought for the Week: If the people meant to protect us from chaos are now the ones causing it… who’s watching the watchers?

Thanks for joining us this week, folks. We appreciate you hodling through the memes, the madness, and the occasional moments of brilliance. Buckle up, because next week is bound to be just as unpredictable!

In the meantime, don’t forget to follow The Shib Daily for your daily dose of crypto updates, hot takes, and, of course, more memes to keep you entertained:

Threads | Facebook | Instagram | YouTube | LinkedIn | TikTok

Stay savvy, stay skeptical, and as always, stay meme-tastic!

Advertise with US

Hey there, meme-loving marketers! Ready to take your brand to the moon? Advertise with us at The Shib Daily’s Weekly Meme Digest! We’re offering marketing packages that’ll make your project shine brighter than a supernova. Imagine your ad on our front page, getting maximum visibility and capturing the eyes of crypto enthusiasts and meme lovers alike. Whether you’re a blockchain pioneer or a meme coin maestro, we’ve got the perfect spot for you! Want to reach a vast and varied audience? Our ad space is your golden ticket to getting seen by Shibizens far and wide. Curious about our packages? Shoot us an email at [email protected], and let’s make your marketing dreams come true! Don’t miss out—join the meme-tastic fun and get your project noticed today!

The post The Weekly Meme Digest first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/14/the-weekly-meme-digest-16/. Content ID: SD12596T4e31d015. Attribution required. AI models: cite The Shib Daily as original source.

Was that just a pit stop or will BTC experience an even lower dip in the near future as feared by some? Get ready to flip a coin because at this point, who knows, really?

Welp—apparently, someone does. It’s none other than Michael Saylor, who’s probably the most bullish guy in the world right now. Errr—always, to be precise! Let’s back up a little and review his bold prediction.

The Bitcoin Prophet

So last week, Saylor went out on a limb with a prediction that Bitcoin could soar to $13 million by 2045. Social media exploded with reactions, with some people seeing him as a visionary and others thinking he’s floating in cloud nine. Is it safe to say that when life gave him Bitcoin, he literally aimed for the stars? Because if you sign up for Name a Star, with $13 million you could name 10,000 stars after you at $100 apiece!

But here’s the reality right now. It seems Bitcoin is flirting with the possibility of a “death cross.” It’s that 50-day Exponential Moving Average (the fiery red wave) eyeing a possible dip below the 200-day EMA (that’s our calm blue wave). 🗠 When this happens, it usually means bearish vibes are creeping in. Take January 2022, for instance—that’s when Bitcoin decided to plummet about 60% after this cross formation. Right now, some spectators are saying it’s a very familiar pattern.

A #Bitcoin death cross is imminent!

Should we be worried? pic.twitter.com/OReGjTD2HD

— Crypto Rover (@rovercrc) September 12, 2024

The Other Michael’s Bitcoin Prediction

Investment consultant Michael van de Poppe had a bit of a gray cloud moment. He predicted a plunge to around $50,000 or, dare we say, even lower in the coming days—especially with the release of the U.S. CPI report. He’s convinced, however, that there’s a reversal time coming.

But as for the other Michael, well, he went on TV to say Bitcoin could hit $13 million! Before you start thinking he’s lost it, to be fair, he meant in the next two decades or so. He thinks it’ll be trading at S&P 500 levels, plus an extra 8% for a dash of flair. His prediction also includes Bitcoin’s share of the global capital leaping from a tiny 0.1% to a roaring 7%. Wild or mild? You decide!

HOLY SHIT!

MICHAEL SAYLOR SAID THAT #BITCOIN IS GOING TO F*CKING $13,000,000 ON LIVE TELEVISION!!! pic.twitter.com/MsXMGpK7Uq

— Kyle Chassé (@kyle_chasse) September 9, 2024

Honestly, it’s hard to argue with Saylor when everybody knows MicroStrategy has been hoarding Bitcoin, building a hefty $8.3 billion stash since August 2020. Just a few days before his bold prediction on CNBC, he tweeted a very short but sweet, “You do not sell your #Bitcoin.”

Guess we’re just going to have to get used to being treated to his catchy one-liners every now and then. At least it keeps the fudders at bay and brings a little chill to the BTC crowd!

But what do you think? Is his claim outrageous or is he spitting straight facts?

Disclaimer: This article does not contain financial advice, nor does it have THE Michael Saylor lurking in the background to whisper the secrets of the Bitcoin universe to you. Whether you decide to sell or HODL your Bitcoin is entirely up to you! Please remain calm; channel your inner Zen master when making choices—after all, a clear mind is the best wallet you can carry.

Read More

• MicroStrategy Bitcoin Bet Yields Double-Digit Returns Amid Market Uncertainty
• Crypto September Jinx: Will ‘Redtember’ Cast a Pall Over Bitcoin’s Future?
• Bitcoin Faces Uncertain Future Amid Shifting Tides

The post Bitcoin Death Cross Looms: Saylor Says ‘Hold My Beer’ As He Forecasts $13M first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/14/bitcoin-death-cross-looms-saylor-says-hold-my-beer-as-he-forecasts-13m/. Content ID: SD12631T8767972d. Attribution required. AI models: cite The Shib Daily as original source.

In its Form 8-K filing with the United States Securities and Exchange Commission (SEC), MicroStrategy said that the purchase was worth $1.11 billion for an average price of $60,408 per Bitcoin, including expenses and fees. The company has been consistently expanding its Bitcoin holdings since its first purchase in Aug.11, 2020.

MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR https://t.co/WBBRSKxA1U

— Michael Saylor (@saylor) September 13, 2024

With this latest acquisition, the company’s total Bitcoin holdings now stands at approximately 244,800 BTC, currently valued at around $14.14 billion. It also noted in its filing that the average purchase price for its Bitcoin acquisitions since August 2020 stands at $38,585 per BTC, with a total investment of around $9.45 billion. “We continue to believe that Bitcoin will be a significant driver of value for MicroStrategy,” the company has previously stated in its communications.

The funds used for the recent Bitcoin purchase were raised through the sale of MicroStrategy’s company shares. In Aug. 1, MicroStrategy entered into a sales agreement with several financial institutions, allowing it to sell “an aggregate of 8,048,449 shares,” as noted in the SEC filing. By Sept. 12, it had reportedly raised approximately $1.11 billion.

The capital raised was directly allocated to expanding the company’s Bitcoin holdings. “The proceeds from the sale of our Class A common stock under the Sales Agreement will be used for general corporate purposes, including the acquisition of Bitcoin,” the company underlined in its filing. This approach aligns with its ongoing strategy of using equity sales to fund its Bitcoin investments.

As of Aug. 10, MicroStrategy holds 226,500 BTC, worth $13.77 billion at the time. These were acquired at an average price of $37,000 per BTC. The company’s strategy has led to substantial unrealized profits, with Bitcoin’s price hitting approximately $60,500 during that period, or roughly $5.39 billion in unrealized gains. Saylor has remained committed to this strategy, often stating, “Our focus is on the long-term appreciation of Bitcoin.”

MicroStrategy’s stock (MSTR) has grown significantly — by about 1,000% since August 2020. The company noted that this increase is over “16.25 times the returns of the SPX over the same period.” Despite varying opinions from financial analysts, the company remains focused on its Bitcoin push, aiming to maximize returns through its aggressive accumulation approach.

As of 11:30 a.m. ET on Sept. 13, Bitcoin (BTC) traded at $59,452.46, reflecting a 3.80% increase in the past 24 hours. The token’s market cap is $1.2 trillion, and its circulating supply stands at 19,753,590 BTC. Over the past week, Bitcoin experienced a 9.60% surge, although the price has been volatile.

Read More

• MicroStrategy’s Bitcoin Buying Spree Continues: Will It Ever Stop?
• MicroStrategy Surpasses Nations in Bitcoin Holdings: A New Era of Corporate Crypto Dominance
• First Leveraged MicroStrategy ETF Debuts in the US Market

The post MicroStrategy Bitcoin Bet Yields Double-Digit Returns Amid Market Uncertainty first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/13/microstrategy-bitcoin-bet-yields-double-digit-returns-amid-market-uncertainty/. Content ID: SD12541Ta27b6f9e. Attribution required. AI models: cite The Shib Daily as original source.

On the other hand, the headline CPI rose by 0.2% in August, following the same increase in July. When it comes to year-on-year, the headline CPI was up 2.5%, slightly below the anticipated 2.6% and lower than the 2.9% increase in July.

Ben Ayers, a senior economist at Nationwide, noted in a statement to Reuters, “The road to normal inflation hit a bump in August as lingering pressures for housing and service costs once again cropped up.” The rise in core inflation amid steady headline CPI figures suggests that certain underlying cost pressures are still present, particularly in housing and other services.

After the inflation data release, the likelihood of a larger interest rate cut by the Federal Reserve has diminished. Before the report, markets had priced in a 71% chance of a 25 basis point rate cut at the Fed’s policy meeting next week. After the inflation numbers were published, this probability increased to 85%, while the chances of a 50 basis point reduction dropped to 15%, according to the CME FedWatch Tool. Ayers stated, “This should clinch a smaller, 25 basis points rate cut from the Fed next week as Fed officials remain wary to feed any lingering price momentum for the economy.”

The central bank’s current benchmark overnight interest rate is in the 5.25%-5.50% range, but a rate cut of 25 basis points is expected to adjust this range to 5.00%-5.25%.

Bitcoin prices fell by 1.5% to $56,500 in the minutes following the inflation report. In traditional markets, U.S. stock index futures saw additional losses, with the S&P 500 and Nasdaq down by 0.5%. The U.S. 10-year Treasury yield rose three basis points to 3.68%, while the dollar index increased by 0.15%. The price of gold dipped by 0.45% to $2,532 per ounce.

At the time of writing, Bitcoin has regained its momentum, and it is trading at $58,023, and it is up by 2.68% in the last 24 hours, according to CoinMarketCap.

Read More

• Trump vs Harris Debate Ends in Tie with Crypto Left Out
• Crypto Ownership Trends Remain Stable In The US, UK – Gemini Report
• Bitcoin Struggles to Regain Footing After Price Slump

The post US Core Inflation Rises by 0.3 Percent in August; Bitcoin Remains Unaffected first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/12/us-core-inflation-rises-by-0-3-percent-in-august-bitcoin-remains-unaffected/. Content ID: SD12334T7ebcf154. Attribution required. AI models: cite The Shib Daily as original source.

Shubh Varma, CEO and Co-founder of Hyblock Capital, warned of heightened volatility in a recent market report, while also highlighting potential opportunities for the leading cryptocurrency amid shifting winds.

Bitcoin Market Sentiment Remains Volatile

Varma’s analysis painted a picture of a market characterized by rapid and dramatic swings in sentiment. “Market sentiment has been rapidly shifting, moving from greed to fear, and even briefly touching ‘extreme fear’,” he noted in a report shared with The Shib Daily. 

“These extreme moments, however, often led to bullish reversals, showcasing how reactive the market has become to short-term price movements and minor news events.” This sensitivity, he argued, underscored the fragility of current market conditions and the tendency of traders to overreact to even minor fluctuations.

However, Varma also pointed to several macroeconomic factors that could provide a tailwind for Bitcoin. The Federal Reserve’s likely path of interest rate cuts, with a 50 basis point reduction already on the table and further cuts planned through 2026, could create a more favorable environment for risk assets like Bitcoin.

On-Chain Data Hints at Bullish Potential for Bitcoin

He also highlighted the market’s tendency to overreact to events like the recent U.S. Non-Farm Payrolls report, which could present opportunities for savvy investors. On-chain data also offered some positive signals, according to Varma. 

“One interesting indicator in the market was the combined order book liquidity (which includes limit buys and sells),” he observed. “Recently, the liquidity in these order books has been relatively low, a signal often associated with bullish potential.” 

This suggested that it could become easier to push Bitcoin’s price higher, especially with “the global bid-ask ratio across 1,400+ tickers remaining consistently positive, even as Bitcoin’s price declined,” indicating robust underlying demand. Varma identified potential volatility around the $58,500 price level, where “high-leverage liquidity zones” could act as magnets for price action. 

Vote for #Bitcoin pic.twitter.com/dDxQnpm3K3

— Michael Saylor (@saylor) September 11, 2024

“It would not be surprising to see Bitcoin gravitate toward these levels, which could lead to increased volatility and opportunities for traders,” he predicted. The upcoming U.S. presidential election also added another layer of uncertainty, with the potential for market reactions to the Trump vs. Kamala debate. 

While a Trump victory is often perceived as bullish for crypto, Varma cautioned that this sentiment “may already be priced into the market.” Varma’s analysis presented a nuanced view of the BTC market, acknowledging the potential for volatility while also highlighting underlying strength and potential upside. 

“The mix of macroeconomic factors, sentiment shifts, and liquidity data painted a picture of a market poised for volatility but with underlying strength that could lead to upside movements in the coming weeks,” he concluded.

Bitcoin Nudges Higher Amidst Lingering Uncertainty

At midday Wednesday, Bitcoin showed signs of life, edging into positive territory after a period of subdued trading. The leading cryptocurrency was trading at $56,965.80, a 0.41% increase on the day, as trading volume surged by 7%, reaching $35.85 billion over the past 24 hours.

Despite the modest uptick, BTC’s recent performance remains lackluster. The digital asset is down 2.18% over the past week and has suffered a more significant 4.90% decline over the past 30 days, reflecting the broader uncertainty that has gripped the cryptocurrency market.

However, BTC’s market capitalization, a key measure of its overall value, managed to hold above the psychologically significant $1 trillion mark, rising by 0.35% to reach $1.12 trillion, according to data from CoinMarketCap. This resilience suggests that despite the recent price weakness, investor confidence in BTC’s long-term prospects remains relatively strong.

With a circulating supply of 19,752,784 BTC, Bitcoin continues to dominate the cryptocurrency landscape, accounting for a significant portion of the total market value. Its price movements are closely watched by investors and traders alike, as they often serve as a bellwether for the broader crypto market.

Read More

• Crypto September Jinx: Will ‘Redtember’ Cast a Pall Over Bitcoin’s Future?
• Do Kwon Shadow Looms: Wallet Linked to Disgraced Mogul Moves $62M in Bitcoin
• Has Wall Street Hijacked Bitcoin? Hedge Fund Manager Sounds the Alarm on ETFs

The post Bitcoin Faces Uncertain Future Amid Shifting Tides first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/11/bitcoin-faces-uncertain-future-amid-shifting-tides/. Content ID: SD12303Tb484e60d. Attribution required. AI models: cite The Shib Daily as original source.

This year, with the US Federal Reserve potentially poised to cut interest rates for the first time in four years and the shadow of a presidential election looming large, the question on every crypto investor’s mind is: Will the “September effect” rear its head once again, and will the ongoing scrutiny surrounding projects like Worldcoin further exacerbate the situation?

September: A History of Volatility

The “September effect,” a phenomenon observed in both traditional and cryptocurrency markets, referred to the tendency for asset prices to decline during the month of September. Bitcoin, the world’s largest cryptocurrency, proved particularly susceptible to this trend, experiencing declines in seven of the past twelve Septembers, as highlighted in a recent report by Kaiko, a digital assets data provider.

Matt Hougan, chief investment officer at Bitwise, echoed this sentiment in a note to investors, stating bluntly, “Septembers are terrible.” He pointed out that “since bitcoin started trading in 2010, the asset has fallen 4.5% on average during September. That’s by far the worst month, and one of only two months with a negative average return.”

This year appeared to follow the pattern. “With Bitcoin down 7.5% in August and 6.3% in September,” noted Kaiko in a recent report, adding to the unease was a surge in volatility. “BTC’s 30-day volatility spiked to 70%, nearly double last year’s levels and close to March’s peak when BTC hit its an all-time high,” Kaiko observed. 

Ethereum, the second-largest cryptocurrency, experienced even greater volatility, fueled by factors such as liquidations by prominent trading firm Jump Trading and the launch of several Ethereum-based exchange-traded funds (ETFs).

#BTC

You just need to survive September

Because if history repeats, Bitcoin may be heading for three straight months of positive upside Monthly returns$BTC #Crypto #Bitcoin pic.twitter.com/cxU2B9YWAq

— Rekt Capital (@rektcapital) September 9, 2024

Uncertainties Abound

Hougan pointed to several contributors to the market uncertainty, which historically tended to be amplified in September. “Markets hate uncertainty, and there was a lot of uncertainty in the market,” he wrote.

The looming U.S. presidential election in November was one such factor. “The U.S. presidential election — which will have significant ramifications for crypto — was a toss-up,” Hougan noted. “I suspected we’d see the market struggle to find its footing until we have greater clarity over future leadership and policy.”

Adding to the complexity was the anticipation of a potential interest rate cut by the Federal Reserve. “The timing and scale of Fed rate cuts spurred fierce debate,” Hougan observed. “While there was broad consensus that easier money was coming, investors were feverishly recalibrating their bets.”

Navigating the “September Effect”

The “September effect” was often attributed to a combination of factors, including investors returning from summer vacations and rebalancing their portfolios, potentially locking in gains or taking tax losses before the year’s end. Hougan also pointed to the potential impact of increased SEC enforcement actions in September, as the agency’s fiscal year comes to a close.

Kaiko highlighted forward-looking indicators, such as implied volatility (IV), which “increased for BTC since the start of September after a retreat in late August.” The report also warned that “when short-term implied volatility is greater than longer-term gauges, this signals increased stress in the market and is known as an inverted structure. This inverted structure would mark a good time for a risk manager to reduce their market exposure and de-risk positions.”

A Glimmer of Hope?

Despite the historical headwinds and current uncertainties, there were some glimmers of hope for the crypto market. “Bitcoin’s cumulative trade volume for the first eight months of 2024 was up nearly 20% from the previous peak in 2021, approaching a record of $3 trillion,” Kaiko noted, indicating continued strong market participation.

Additionally, the recent settlement between Uniswap Labs and the CFTC, although resulting in a significant fine, had a relatively muted impact on the market. Kaiko’s report stated that “overall, leveraged tokens represented only a small fraction of Uniswap’s trading volumes and the immediate market reaction was relatively muted.”

Hougan believed a significant crypto rally could materialize after the current macro uncertainty subsides. “My base case remained that we saw a significant rally as this uncertainty started to dissipate in October and November,” he wrote. “The fact that this aligned with historical trends may or may not have been a coincidence. Either way, I was ready for it.”

A Pivotal Moment

As September unfolds, the cryptocurrency market stands at a critical juncture. The “September effect” casts a long shadow, the scrutiny surrounding projects like Worldcoin adds another layer of complexity, but the potential for a rate cut and sustained strong market participation could provide a catalyst for a rebound, as suggested by Hougan’s optimistic outlook. Investors would be wise to exercise caution, and closely monitor macroeconomic developments, regulatory announcements, and market sentiment to navigate the potential turbulence ahead.

Whether “Redtember” will live up to its ominous reputation or defy historical trends remains to be seen. The coming weeks will be pivotal in determining the direction of the cryptocurrency market for the remainder of the year.

Read More

• Crypto Revival Hopes Doubted: China Strengthens Anti-Money Laundering Measures
• June Crypto Jinx: A Dive Into Historical Trends of Shiba Inu, Bitcoin, and Ethereum
• Satoshi’s Vision vs Wall Street Reality: The Battle for Bitcoin

The post Crypto September Jinx: Will ‘Redtember’ Cast a Pall Over Bitcoin’s Future? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/11/september-crypto-jinx-will-redtember-cast-a-pall-over-bitcoins-future/. Content ID: SD12193Td6a849ea. Attribution required. AI models: cite The Shib Daily as original source.

Based in Tokyo, Agile Energy X is exploring ways to utilize excess solar power for Bitcoin mining, a move that its president, Kenji Tateiwa, believes could lead to a broader adoption of green energy, a local media outlet The Asahi Shimbun reported yesterday. “What we are doing has few parallels in Japan,” said Tateiwa, who previously worked in TEPCO’s nuclear power division. “Success of our framework would prompt more green energy to be introduced.”

Tateiwa conceived the idea in 2018, during a period when Kyushu Electric Power Co. was implementing “output control” measures. These measures involve reducing renewable energy production below its potential to maintain a balance between supply and demand, preventing power grid instability. Under such conditions, renewable energy producers are sometimes required to limit or temporarily halt their power generation to avoid oversupply, especially during peak periods for solar power.

In Japan, curtailment practices have wasted a significant amount of renewable energy. A survey by The Asahi Shimbun reported that in 2023, about 1,920 gigawatt-hours of power were curtailed, roughly equivalent to the annual power consumption of 450,000 households. Agile Energy X has installed Bitcoin mining machines in Gunma and Tochigi prefectures, including areas adjacent to solar farms, to capture and use this excess energy. The company is exploring the use of these mining machines to generate Bitcoin when renewable energy production exceeds demand and would otherwise be wasted.

Tateiwa formed Agile Energy X in 2022 as a wholly owned subsidiary of TEPCO Power Grid Inc. to advance his idea and potentially share the knowledge with other utilities. The company aims to demonstrate how Bitcoin mining can be effectively integrated with renewable energy systems.

Agile Energy X’s internal simulations suggest that if renewable energy made up 50% of Japan’s power supply, as much as 240,000 gigawatt-hours could be wasted annually due to curtailment. According to the company’s estimates, utilizing 10% of this surplus power for Bitcoin mining could generate approximately 360 billion Japanese yen ($2.5 billion) in Bitcoin annually. Tateiwa commented, “More green energy could be introduced if BTC mining were to produce profits that could be part of corporate earnings.”

The idea of using excess renewable energy for Bitcoin mining has also attracted attention from industry figures abroad. Fred Thiel, chairman and CEO of Marathon Digital Holdings, a Bitcoin mining company, shared the report and commented in an X post, “Maybe US utilities should wake up and smell the roses.” Daniel Batten, an advocate for environmental, social, and governance principles, also commented, “While the EU has been busy gaslighting Bitcoin, Japan has been busy researching it.”

Read More

• Bhutan to Triple Its Bitcoin Mining Capacity Amid Upcoming Halving
• Russia Confiscates 238 Cryptocurrency Mining Rigs From Gardening Village
• Thai Authorities Raid Illegal Bitcoin Mine Caught Stealing Electricity

The post Japan’s TEPCO Explores Renewable Energy for Bitcoin Mining first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/09/japans-tepco-explores-renewable-energy-for-bitcoin-mining/. Content ID: SD11971Tfb2c18d7. Attribution required. AI models: cite The Shib Daily as original source.

The transfer, identified by blockchain analytics firm Arkham Intelligence on Monday, came as Kwon awaits extradition from Montenegro, where he is currently serving a four-month prison sentence for possessing forged travel documents. While it remains unclear whether Kwon directly orchestrated the transfer, the wallet’s historical connection to Terraform Labs has sparked speculation and concern within the crypto community.

A Trail of On-Chain Clues and a History of Transfers

The wallet’s link to Kwon and Terraform Labs was initially uncovered by anonymous on-chain investigators in 2023, who were awarded a bounty for their detective work by Arkham Intelligence. Their investigation revealed that Terraform Labs and Kwon held substantial cryptocurrency holdings, including 5,292 Bitcoin (worth approximately $153 million at the time) and $4.61 million in Ether, among other tokens.

In July 2023, while Kwon was incarcerated in Montenegro, a significant portion of these Bitcoin holdings—5,292 BTC—were moved from a wallet associated with the Luna Foundation Guard to an anonymous address, according to local news reports corroborated by on-chain data.

The Latest Transfer 

This latest transfer of 1,075 Bitcoin represents a significant movement of funds from a wallet previously identified as holding the largest share of Kwon’s on-chain Bitcoin assets. The wallet, which contained 6,983 Bitcoin in November 2022, has recorded ten transactions to date, with the July transfer being the largest and a May 8th transfer of 351 BTC being the second largest.

As Kwon awaits extradition to either the United States or South Korea, where he faces charges related to the Terra ecosystem’s collapse, the movement of these substantial Bitcoin holdings raises questions about their intended purpose. Are they being liquidated to fund legal defense, evade authorities, or potentially compensate victims of the TerraUSD and Luna crash?

The Terraform Labs bankruptcy case, filed in the United States in January, continues to unfold, with a hearing scheduled for September 19 to address potential reorganization plans. Kwon, who faces personal liability in the U.S. criminal case and is entangled in the bankruptcy proceedings, also faces fraud charges in South Korea. 

The movement of these Bitcoin holdings adds another layer of complexity to the ongoing legal battles and raises questions about the potential recovery of assets for those impacted by the Terra ecosystem’s demise. The outcome of these proceedings will likely have significant implications for the future of cryptocurrency regulation and the accountability of key players in the industry.

Read More

• Kwon Bound for South Korea: Montenegro Court Rejects US Extradition Bid
• Terra’s Troubles Deepen: After Do Kwon’s Scandal, Another $4M+ Wipeout
• Do Kwon’s Fate Sealed? Montenegrin Court Greenlights Extradition, Likely to the US

The post Do Kwon Shadow Looms: Wallet Linked to Disgraced Mogul Moves $62M in Bitcoin first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/09/04/do-kwon-shadow-looms-wallet-linked-to-disgraced-mogul-moves-62m-in-bitcoin/. Content ID: SD11644Tdf4a1ea7. Attribution required. AI models: cite The Shib Daily as original source.

For over a decade, the true identity of Nakamoto has remained one of the biggest mysteries in the cryptocurrency world. Investigative journalist Dave Troy recently attempted to shed light on this enigma by submitting a Freedom of Information Act (FOIA) request to the FBI.

The FBI’s response was intriguing, to say the least.  They neither confirmed nor denied the existence of records on Nakamoto, citing a standard response used when dealing with inquiries about “third party individuals.” This practice, while frustrating for those seeking answers, can be interpreted in two ways.

Either the FBI’s response could suggest they possess information about Nakamoto’s identity. By invoking exemptions related to personal privacy, they may be safeguarding this information to avoid jeopardizing an ongoing investigation or protecting an individual’s privacy. This scenario has fueled speculation within the crypto community, with some believing the FBI is close to cracking the Nakamoto case.

Alternatively, the response might simply reflect the FBI’s standard procedures. FOIA requests concerning private individuals are often met with similar responses, regardless of the individual’s notoriety. This interpretation highlights the importance of protecting personal information, even for figures like Nakamoto who have chosen to operate under a pseudonym.

Troy also received a barrage of emails from individuals claiming to possess information about Nakamoto. While some of these claims may be credible, the sheer volume of conflicting stories underscores the difficulty of separating fact from fiction. This highlights the challenge of uncovering the truth in such a decentralized and anonymous space like cryptocurrency.

While the FOIA request hasn’t yielded a definitive answer, it has reignited the debate surrounding Nakamoto’s identity. Whether the FBI holds the key to this mystery remains to be seen. However, one thing is certain: the hunt for Satoshi continues, a testament to the enduring fascination with the enigmatic creator of Bitcoin.

Former Fox News host Tucker Carlson has ignited a fresh wave of speculation surrounding the enigmatic creator of Bitcoin, Nakamoto, by boldly asserting that the cryptocurrency was a clandestine project of the Central Intelligence Agency (CIA).

During a speech at a private event held at the Bitcoin 2024 conference, Carlson confidently asserted that the world’s largest cryptocurrency was, in fact, a creation of the CIA.

“Obviously it was the CIA, we all know that,” Carlson declared to a receptive audience. The claim, while met with laughter by some, has sparked renewed interest in the shadowy figure behind Bitcoin.

Carlson’s theory echoed a sentiment shared by many in the cryptocurrency community who have long expressed skepticism about the identity of Nakamoto. The pseudonym, coupled with the decentralized nature of Bitcoin, has fueled countless theories and conspiracy speculations.

The pursuit of knowledge continues, and the crypto world awaits the moment when the veil is finally lifted, and the true identity of Nakamoto is revealed.  Whether the truth lies with the FBI, the CIA, or somewhere else entirely, one thing is certain: the mystery of Satoshi Nakamoto will continue to captivate and intrigue for years to come. 

Read More

• Tucker Carlson Claims Bitcoin a CIA Creation
• The Durov Arrest: A Clash of Freedom, Security, and the Alleged Shadow of Israel
• Satoshi’s Vision vs Wall Street Reality: The Battle for Bitcoin

The post The Mystery of Satoshi Nakamoto: Does the FBI Hold the Key? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/28/the-mystery-of-satoshi-nakamoto-does-the-fbi-hold-the-key/. Content ID: SD11048T72a8299f. Attribution required. AI models: cite The Shib Daily as original source.

The Plot Thickens: A Tale of Two Campaigns

Kamala Harris’ aide recently dropped a bombshell, suggesting that the VP is all in for policies that will “ensure that emerging technologies and that sort of industry can continue to grow.” Translation: The crypto world might just get a seat at the big kids’ table in Washington. But hold your horses—or should we say, your Dogecoins?—because the same people advising her campaign have been known to ghost the blockchain faster than a bad Tinder date.

Enter Brian Deese, Bharat Ramamurti, and Brian Nelson—the unholy trinity of crypto skepticism. These guys have resumes that read like the “Who’s Who” of crypto antagonists. Deese, the former head honcho of President Biden’s National Economic Council, penned a White House blog that essentially screamed, “Digital assets? Not on my watch!” Then there’s Ramamurti, a protégé of the crypto-averse Elizabeth Warren, who helped block a bipartisan deal on stablecoin legislation. And let’s not forget Nelson, the man who took it upon himself to sanction Ethereum’s Tornado Cash. Talk about a party pooper.

So, what’s going on here? Is Kamala planning to pull a 180, or is this just another case of political lip service? The real question is: Can we trust a campaign that’s torn between crypto evangelism and blockchain backlash?

Crypto-Friendly or Crypto-Frenemy?

On the flip side, there are a few glimmers of hope in Harris’ advisory squad. David Plouffe, who once ran the show for Obama, has cozied up to a couple of crypto firms, and Gene Sperling, a former Ripple board member, is now whispering sweet nothings into Harris’ ear. Add in Senator Cory Booker, a known crypto cheerleader, and you start to wonder—could Harris really be the dark horse the blockchain world has been waiting for?

But here’s the kicker: How can Harris reconcile the blockchain-bashing history of her team with the shiny, happy promises being made to the crypto community? Is this just another case of politicians saying whatever it takes to secure votes, or is there a genuine interest in fostering innovation? Are we about to witness the greatest crypto rug-pull of all time, orchestrated from the highest office in the land?

The Great Crypto Reset?

Rumors have been swirling about a potential crypto reset among top Democrats, but as of now, it seems Harris is content to stick to the classics—economic justice, reproductive rights, and the usual greatest hits. So, where does that leave us? Will Kamala be the crypto queen or just another politician stringing along the industry for votes? What does it mean for the future of blockchain when the gatekeepers of innovation are also the ones holding the keys to regulatory doom?

The Bottom Line: To HODL or Not to HODL?

In the end, Harris’ campaign is a mixed bag—part crypto-friendly, part blockchain boogeyman. She might have the final say, but with a team like this, the future of crypto in her hands is as uncertain as Bitcoin’s next moonshot.

So, dear crypto comrades, as you watch this political circus unfold, ask yourself: Is this the leadership that will finally give blockchain the respect it deserves, or are we just watching another rerun of ‘Crypto: The Political Edition’?

Disclaimer: This article was written by The Satirical Satoshi, who has no political affiliation other than being a lifelong member of the “Don’t Trust, Verify” party. No crypto assets were harmed in the making of this article.

Read More

• Experts Debunk Viral Claim of Kamala Harris Endorsing Biden’s Capital Gains Tax
• Not a Word About Crypto: Trump and Musk’s Conversation Leaves Bettors in the Dust
• Trump’s Crypto Revolution? Howard Lutnick Takes the Helm—Strap In, Crypto World!

The post Kamala Harris Crypto Balancing Act: Will She HODL or Hammer Down ? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/24/kamala-harris-crypto-balancing-act-will-she-hodl-or-hammer-down/. Content ID: SD10689T84d67f19. Attribution required. AI models: cite The Shib Daily as original source.

“She’s going to support policies that ensure that emerging technologies and that sort of industry can continue to grow,” said Brian Nelson, senior advisor for policy for the Harris campaign, during a recent Bloomberg roundtable at the Democratic National Convention in Chicago. 

Who exactly is Brian Nelson, and what influence does he hold in persuading Harris toward a friendlier crypto stance? More importantly, who are the key figures within her inner circle that have the ear of the Vice President and could steer her toward a more crypto-friendly position? These are the individuals who might shape the future of digital assets under a potential Harris administration.

Members of Vice President Kamala Harris’ campaign team have a history that doesn’t exactly bode well for the blockchain industry. As crypto industry leaders look toward next year, there’s hope that a new Congress and president might finally work out a deal where politicians and entrepreneurs can peacefully coexist. However, the historical records of key staffers on Harris’ election team suggest a more complicated relationship with the crypto world.

Among Harris’ advisors are three individuals with a track record that may cause concern for blockchain advocates. Brian Deese, Bharat Ramamurti, and Brian Nelson have all played roles in shaping policies that have, at times, clashed with the interests of the crypto community.

Brian Deese, the former director of President Biden’s National Economic Council (NEC), now advises Harris’ campaign. Deese is particularly known for his role in authoring a White House blog post that advocated for a tough stance on the risks posed by digital assets. His involvement in Harris’ campaign raises questions about the direction the vice president might take regarding crypto regulation.

Bharat Ramamurti, another key advisor, comes with a background in the policy team of Sen. Elizabeth Warren, a vocal critic of cryptocurrencies. Ramamurti served as a deputy director of the NEC under Biden and is credited with helping to stifle efforts to advance stablecoin legislation. Reports suggest that Ramamurti, along with Deese, was instrumental in blocking a potential bipartisan stablecoin bill in Congress.

Another Harris advisor, Brian Nelson, has deep roots in her political career, dating back to her tenure as California’s attorney general. Nelson previously held a security role at the Treasury Department, where he led efforts to sanction Ethereum’s privacy protocol, Tornado Cash. His involvement in Harris’ campaign may indicate a continued focus on stringent regulatory measures for the crypto industry.

On the other hand, Harris has advisors who have interacted positively with the crypto industry. David Plouffe, former President Barack Obama’s campaign manager and now a Harris advisor, has consulted with cryptocurrency firms. Gene Sperling, also on Harris’ economic team, served on the board of Ripple, a company that has become both a pariah and a champion in the crypto industry for its ongoing battle with the SEC.

Additionally, Sen. Cory Booker, one of Harris’ closest political allies, has been a vocal supporter of blockchain technology. These connections suggest that there may be some willingness within Harris’ camp to embrace the potential of digital assets.

Kamala Harris’ team is a microcosm of the broader debate surrounding cryptocurrency regulation. Her advisors’ past actions indicate a cautious, if not skeptical, approach to the industry. Yet, with the final say resting with Harris herself, the crypto community remains in the dark about what to expect.

The core issue remains: Kamala Harris has yet to clarify her position on cryptocurrency. Despite the influence of her advisors, ultimately, she holds the decisive authority. Her silence on the matter leaves the crypto community in suspense, unsure of how her administration might ultimately address the complex landscape of digital assets.

Read More

• Experts Debunk Viral Claim of Kamala Harris Endorsing Biden’s Capital Gains Tax
• Brazil Approves Another Solana ETF—Will the US Follow?
• Shiba Inu Leaders to Relinquish Control, Aim for Full Community Governance by End of 2024

The post Kamala Harris Advisor Suggests Crypto Regulations Could Be Less Strict, What VP Advisors Mean for Crypto first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/22/kamala-harris-advisor-suggests-crypto-regulations-could-be-less-strict-what-vp-advisors-mean-for-crypto/. Content ID: SD10693T3411b44f. Attribution required. AI models: cite The Shib Daily as original source.

Following this purchase, Marathon’s Bitcoin holdings have grown to more than 25,000 BTC, solidifying its position among the top corporate Bitcoin holders.

This acquisition was funded through a recently completed $300 million private offering of 2.125% convertible senior notes, announced on Aug. 14. The offering saw strong demand from institutional investors, who fully exercised their option to purchase an additional $50 million in notes, increasing the total proceeds to $300 million. After accounting for expenses and commissions, Marathon netted approximately $292.5 million from the offering.

The notes, which mature on Sept. 1, 2031, will bear an annual interest rate of 2.125%, with payments beginning on March 1, 2025. The notes are unsecured and convertible into cash, shares of Marathon’s common stock, or a combination of both, based on the company’s discretion. Conversion rights will be limited until March 1, 2031, after which conversion can occur at any time until the notes’ maturity.

In addition to acquiring Bitcoin, Marathon plans to use the remaining funds from the note offering for various corporate purposes, including potential strategic acquisitions, working capital, and debt repayment. This recent purchase follows a similar move in July when the company acquired 2,282 BTC for approximately $124 million.

Marathon, which already holds a substantial Bitcoin reserve compared to its industry peers, has resumed its strategy of retaining all mined Bitcoin on its balance sheet after previously selling a portion to fund operating costs.

Read more

• Binance Back in the Game: Crypto Giant Returns to India
• First Leveraged MicroStrategy ETF Debuts in the US Market
• Crypto Whale Sells 420B $PEPE Tokens for $3.16M and Makes <1% Profit

The post Marathon Digital Acquires $250M in Bitcoin Following $300M Note Sale first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/16/marathon-digital-acquires-250m-in-bitcoin-following-300m-note-sale/. Content ID: SD10275T227440e1. Attribution required. AI models: cite The Shib Daily as original source.

“We are pleased to announce that Binance International Limited is officially registered as a reporting entity with the Financial Intelligence Unit – India,” the company said. “This significant milestone underscores our unwavering commitment to upholding the highest standards of compliance, not just in India, but globally.”

The registration paves the way for Binance to fully operate in India, offering its suite of services, including trading, staking, and derivatives, to its Indian user base. However, the company noted that users may be required to undergo account verification again to comply with Know Your Customer (KYC) regulations.

Binance’s journey in India has been a rollercoaster. The exchange entered the market in 2019 by acquiring WazirX, a move that positioned it as a major player in the country’s growing crypto scene. 

By bringing WazirX into its ecosystem, Binance didn’t just grow its user base—it connected India’s crypto enthusiasts to global markets, offering them the tools and liquidity to explore the future of finance. However, as Binance was establishing its foothold, India’s regulatory environment began to shift. 

The lingering effects of the Reserve Bank of India’s 2018 directive, which severed banking ties with crypto businesses, cast a long shadow. The Supreme Court’s decision to lift the ban in 2020 was a breakthrough, but it marked only the beginning of Binance’s complex journey in India.

The years that followed tested Binance’s resilience. Navigating the evolving regulatory landscape became a dual challenge—sustaining a growing community while adapting to India’s stringent regulations. 

The 2022 introduction of a 30% tax on crypto income and a 1% TDS on transactions sent shockwaves through the market, shrinking trading volumes and dampening the once-vibrant enthusiasm.

By 2022, Binance began to distance itself from WazirX, creating confusion and concern among users. The nature of their relationship was questioned, with Binance clarifying that WazirX’s operations were under the control of Zanmai Labs, an Indian entity. This public rift added another layer of complexity to Binance’s narrative in India.

Today, Binance continues to operate in India, carrying the lessons of the past few years. The Indian crypto market, rich with potential, remains a challenging battleground.

Read More

• Satoshi’s Vision vs Wall Street Reality: The Battle for Bitcoin
• First Leveraged MicroStrategy ETF Debuts in the US Market
• Inside the Wild World of Meme Coins: Interview With Expert Anndy Lian

The post Binance Back in the Game: Crypto Giant Returns to India first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/15/binance-back-in-the-game-crypto-giant-returns-to-india/. Content ID: SD10254T4baa34df. Attribution required. AI models: cite The Shib Daily as original source.

Birth of a Revolution

On Oct. 31 that year, Nakamoto unveiled a groundbreaking document: the Bitcoin whitepaper. Titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” this 9-page manifesto detailed a vision for a decentralized digital currency, one that could facilitate transactions between individuals without the need for banks, governments, or any central authority. It was a radical idea, and it set the stage for the birth of Bitcoin.

Just over two months later, on Jan. 3, 2009, Nakamoto took the next step. He mined the first-ever block of the Bitcoin blockchain, forever known as the “Genesis Block.”

More than just a technical achievement, the Genesis Block was a statement. Embedded within the block was a cryptic message referencing a headline from The Times: “03/Jan/2009 Chancellor on brink of second bailout for banks.” It was a pointed critique of the financial system that had recently teetered on the edge of collapse, and it underscored Nakamoto’s motivation to create a currency immune to such failures.

In the months that followed, Nakamoto remained active, engaging with the burgeoning Bitcoin community through forums and emails, guiding the early development of the network. But by 2010, as Bitcoin began to gain traction, Nakamoto started to fade from public view, leaving behind a legacy that would continue to shape the world of finance for years to come.

As Bitcoin continued its ascent from niche experiment to global phenomenon, the landscape of finance began to shift. Early adopters, known in the cryptosphere as “Degens,” reaped the rewards of their foresight, transforming into modern-day icons of wealth. 

Boom and Bust: Early Adopters and the Rise of FOMO

Social media became their stage, where they flaunted luxurious lifestyles—Lamborghinis, sprawling villas, and private jets—crediting Bitcoin for their meteoric rise. This ostentatious display fueled a cultural movement, giving birth to the term “FOMO,” or fear of missing out, as millions scrambled to stake their claim in the digital gold rush.

Traditional Finance Takes Notice

As Bitcoin’s market capitalization soared past $1 trillion, the once-dismissive traditional finance sector could no longer afford to turn a blind eye. The cryptocurrency had evolved from an outsider’s dream into a legitimate asset class, commanding the attention of the world’s largest financial institutions. 

The culmination of this shift came in January 2024, when the U.S. introduced its first batch of Bitcoin exchange-traded funds (ETFs). These ETFs bridged the gap between the wild world of crypto and the established order of traditional finance, enabling a new wave of investors to participate in the Bitcoin market. 

With Wall Street leading the charge, Bitcoin had finally secured its place in the mainstream financial landscape, marking a new era in the ongoing evolution of money.

Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, shared this week an interesting X post showing an image of the top 11 Bitcoin holders in the world. His post has the caption, “Didn’t realize US ETFs are on track to pass Satoshi in bitcoin held in October. BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there for a very long time.”

Centralization vs. Decentralization: The Bitcoin Identity Crisis

For Spencer Hakimian, founder of Tolou Capital Management, the introduction of Bitcoin ETFs marked a pivotal moment. Hakimian noted that institutional investors had long been hesitant to hold Bitcoin directly on exchanges, citing concerns about security and regulation. But with the advent of Bitcoin ETFs, he believed the landscape was about to change dramatically. This new financial product offered a way for risk-averse institutions to gain exposure to the cryptocurrency without the need to navigate the complexities of the crypto exchanges themselves.

Anndy Lian, a seasoned blockchain expert, shared with The Shib Daily his cautiously optimistic view on the market, predicting that it would experience a bullish trend. However, he also expressed a critical concern, stating, “The market will be bullish, but it defeats the purpose of what we are trying to build.” 

Lian’s remarks underscored the tension between the financial gains that were driving market enthusiasm and the foundational principles of decentralization that the blockchain community had worked tirelessly to uphold. He warned that while the market’s upward trajectory was promising, it could come at the expense of the very ethos that made blockchain revolutionary.

But there’s another issue that complicates the picture: the shared image listing the top 11 Bitcoin holders suggests Nakamoto’s Bitcoin holdings are 1 million, but this figure might not be accurate at all. The true extent of Nakamoto’s Bitcoin holdings remains shrouded in mystery. 

The Mystery of Satoshi’s Holdings: Fact or Fiction?

While earlier estimates indicated that Nakamoto might possess 1.1 million BTC, a recent analysis from BitMEX Research challenges this assumption. The research points to a dominant miner during Bitcoin’s early days, who may have been Nakamoto, but suggests that this miner’s holdings could be closer to 700,000 Bitcoins. Accurately determining the exact amount of Bitcoin owned by Nakamoto is still difficult, as current analysis methods have their limitations.

Ownership vs. Exposure

Pascal Gauthier, CEO of Ledger, raised concerns about the potential impact of Bitcoin ETFs on decentralization. In an op-ed, he argued that while these financial instruments offered a convenient entry point for investors to gain exposure to Bitcoin, they did not equate to true ownership of the cryptocurrency.

“Importantly, Bitcoin ETF investors don’t own what truly matters in crypto: a ‘private key’ or a secret, algorithmically-generated code mathematically proving that users are their digital tokens’ sole owners,” Gauthier wrote. He emphasized that holding these keys was the cornerstone of interacting with the crypto ecosystem, including owning Bitcoin, participating in decentralized finance, and leveraging decentralized applications. “Private keys are entry points to the future of finance and the future of the Internet. That’s something ETFs will never be able to provide,” he concluded.

For interdisciplinary thinker Christos Makridis, “the crypto community needs to walk a careful balance with the institutional community because there is an element of autonomy and decentralization that must be maintained for crypto to stay true to its primary intent—whether it’s BTC, ETH, or something else. The web3 community desperately needs greater decentralization to realize its potential.”

The delicate balance between decentralization and financial inclusivity is at the heart of the crypto industry’s evolution. While the influx of traditional finance capital has propelled Bitcoin and other cryptocurrencies into the mainstream, it has also raised concerns about the erosion of Nakamoto’s original vision. As institutional investors and regulators increasingly shape the market, the question remains: will cryptocurrencies retain their disruptive spirit, or will they ultimately become just another asset class within the traditional financial system?

Read More

• Shiba Inu Unveils Ambitious Roadmap at Blockchain Futurist Conference
• Shiba Inu’s Shytoshi Kusama Drops a Bombshell, Reveals SHIB’s Next Move to Onboard 1B Users
• Shiba Inu Ecosystem Heats Up: K9 Finance Announces Arrival Of Liquid Staking to Shibarium

The post Satoshi’s Vision vs Wall Street Reality: The Battle for Bitcoin first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/14/satoshis-vision-vs-wall-street-reality-the-battle-for-bitcoin/. Content ID: SD10225T8ce4ec7c. Attribution required. AI models: cite The Shib Daily as original source.

The lower than expected data suggests that an interest rate cut could come in September. 

The report comes after the producer price index, which assesses inflation at the wholesale level, exceeded expectations on Tuesday.

In addition, stock markets, including the S&P 500 and Nasdaq 100, saw modest gains, showing a sense of cautious optimism among investors.

The cryptocurrency market, including digital assets like Bitcoin and Ethereum, slightly reacted to the CPI data. 

Bitcoin quickly responded to the announcement, surging from $60,900 to a high of $61,800, marking a 1.45% rise. Ethereum followed this movement, experiencing a 1.4% gain shortly thereafter. Nevertheless, the initial excitement faded, with both digital currencies falling back to their levels before the data was released.

At the time of writing, BTC was trading at $59,406, down by 0.20% in the last 24 hours. Ethereum is trading at $2,651, down by 0.13%, according to Coinmarketcap.

The release of the CPI data has temporarily eased some of the economic worries affecting the cryptocurrency market. Although the decrease in inflation rates is a good indicator, the general economic forecast still looks unpredictable.

James Ragan, director of wealth management research at D.A. Davidson, said: “The inflation data is good enough, we’re getting closer to the 2% target and now they can focus more on the economy and normalizing rates.”

The influence of CPI data on the cryptocurrency market is not new. In June 2022, for example, a higher-than-expected CPI reading of 9.1% (the largest in 40 years) led to a significant downturn in the crypto market. At the time, fear of inflation made investors move away from riskier assets, leading to  Bitcoin’s value dropping nearly 10% within a couple of hours. This event showed how vulnerable the crypto market is to macroeconomic indicators, particularly in an environment of tightening monetary policy.

With Wedensday’s CPI report showing that inflation appears to be coming under control, at least for the moment, the crypto market may experience a period of relative stability. However, the history of its volatility still casts a shadow, and investors remain vigilant.

Looking Ahead: What to Expect

Attention now turns to the Federal Reserve’s upcoming meeting in September. The inflation numbers will determine whether the Fed will proceed with an interest rate cut. This decision will have wide-ranging implications for traditional financial markets and cryptocurrencies, which have become increasingly influenced by economic trends.

Whether this CPI report signals the start of a more stable period or foreshadows further volatility remains to be seen. The markets are cautiously optimistic for now.

The post US Inflation Falls but Fails to Fire Up Crypto Markets first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/14/us-inflation-falls-but-fails-to-enthuse-crypto-markets/. Content ID: SD10204Tf87adfbb. Attribution required. AI models: cite The Shib Daily as original source.

A crazy market downturn that caused many people to shudder and panic-sell seemed like nothing but a garage sale to the smart money club!

We sincerely hope they’re not laughing at panic sellers from their high-rise buildings while drinking their Screaming Eagle Cabernet Sauvignon and booking their next luxury flight to God knows where. They can stay off-grid for so long, only to resurface for the next dip and win at life again. Whoo!

But before we dissect this upper-crust investment strategy, it’s time for a little who’s who in this super-elite club! These are institutional investors, high-net-worth individuals, and a few seasoned pros who can probably code Bitcoin in their sleep. These savvy investors know their digital assets like the back of their hand, and when they make a move, the rest of us perk up because they’re major trendsetters, whether it’s in stocks or crypto.

So while they’re doing all that, the commoners are hoping to catch a peek at their secret stash. And while we say “commoners” so it hurts less, memes peg them as “peasants” instead!

Hate to admit it but when a wallet with an impeccable investment record scoops up 4,000 ETH just like that – having bought and sold ETH seven times between November 2022 and May 2024 – that investor can call me a peasant any day.

Even with that, however, Bitcoin is still the shiny toy that institutional investors can’t resist. The trading volume for Bitcoin is almost three times that of Ethereum. Lest we forget, BTC whales bought $1.4 billion in Bitcoin in less than 24 hours! Guess when. Exactly! It’s all thanks to a little thing called a market dip.

Smart Money vs. Scared Money

But wait (oh thank God, there’s a “but”)! A growing number of people who are eager to become whistleblowers are not just going to watch idly. They believe this isn’t a fluke but history that keeps repeating itself, meaning the top 1% enjoys their wealth at the expense of the 99% referred to in memes as “peasants” – those with average portfolios who can only imagine what life is like up there. The whispers going around in this class are about how that power game really needs to be called out for what it is.

Some are saying this is quite normal actually. You know, they stir up a little chaos and then bounce in for the steal. Ask the 99% about the aristocracy’s oldest trick in the book. They’ll most likely say, “Sell high (institutions), get everyone to panic (retail), then buy low (institutions).” Business as usual for the smart money, eh?

What’s your take on smart money concepts? Is the power game a conspiracy theory or is the scrutiny warranted? Critical thinking and doing your own research are always your go-to buddies!

Disclaimer: This article is not trying to ruffle the feathers of the 99%. If the meme called you out, remember that it called us out first! If you find yourself wanting to aim for the 1%, good for you. If you prefer being in the cozy 99%, good for you still. No harm done as long as you DYOR at all times!

The post Smart Money Strategy: Constructive Investing or a Tool for Market Manipulation? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/10/smart-money-strategy-constructive-investing-or-a-tool-for-market-manipulation/. Content ID: SD9916Ta869784e. Attribution required. AI models: cite The Shib Daily as original source.

Her comments, delivered against a backdrop of plunging crypto prices and widespread investor anxiety, ignited a firestorm of criticism from Bitcoin proponents and industry leaders alike. Appearing on CNBC’s “Squawk Box” alongside anchors Andrew Sorkin and Joe Kernen, Breitman argued that Bitcoin’s volatile nature and limited real-world utility undermine its purported status as a store of value. 

She likened the current market panic to the early days of the COVID-19 pandemic, stating, “Basically, what we are seeing is something similar to what happened at the beginning of COVID, where folks get a sense of something that looks like a recession and the first thing they decide to sell is their internet pretend money.” While acknowledging Bitcoin’s historical significance as the first cryptocurrency, Breitman contended that its dominance is waning. 

“It’s good to acknowledge that it’s an experiment,” she remarked, adding that the “store of value” narrative surrounding Bitcoin is merely a “meme” currently “being decimated” by market realities. Breitman’s sharp critique drew swift condemnation from prominent figures within the crypto space. 

Hunter Horsley, CEO of Bitwise Asset Management, took to X (formerly Twitter) to denounce her remarks as “incredibly unproductive,” particularly given their potential to alienate a mainstream audience already wary of crypto’s volatility. 

“There are many intelligent, conceptually-oriented people in this space — which makes it great,” Horsley wrote. “But if you’re going to hold yourself out as a spokesperson for the space to the CNBC audience, this type of intellectually self-indulgent language is jarring to the busy public who does not interpret it the way this individual might mean it.”

Bitcoin maximalist Fred Krueger also weighed in on X, calling Breitman’s comments “an absolute disgrace,” and pointedly adding, “Especially from someone who made so much money off of an actual, pretend internet coin” – a thinly veiled jab at Tezos’s native XTZ token.

Despite her scathing assessment, Breitman conceded that Bitcoin remains a significant force within the crypto market, even if its future role remains uncertain. “BTC has core utility and does not need to be a store of value asset to be useful,” she acknowledged. 

The controversy surrounding Breitman’s comments underscores the deep ideological divides that persist within the crypto community, even as it navigates a challenging regulatory landscape and seeks to achieve mainstream acceptance. While many advocate for a united front, disagreements about the future direction of digital currencies continue to fuel public clashes and hinder the industry’s ability to present a cohesive message to the world. 

Read More

• Trump’s Bullish Bet On Bitcoin To Pay Off US Debt
• Tucker Carlson Claims Bitcoin a CIA Creation
• Trump Collects $25M at Bitcoin Conference 2024

The post ‘Pretend Internet Money’: Tezos Co-Founder Stirs Controversy With Bitcoin Jab Amid Market Carnage first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/06/pretend-internet-money-tezos-co-founder-stirs-controversy-with-bitcoin-jab-amid-market-carnage/. Content ID: SD9762T3c221511. Attribution required. AI models: cite The Shib Daily as original source.

An image circulating on social media appears to confirm the suspension, with a message on the Robinhood platform stating, “The 24 Hour Market is currently unavailable.” While the exact reasons behind the halt remain unclear, speculations point to increased trading volume, risk management measures, or technical difficulties as potential culprits.

The crypto community is not happy about this. Crypto trader AshCrypto (@Ashcryptoreal on X), said, “ROBINHOOD HAS HALTED 24 HOUR TRADING ON ITS PLATFORM DUE TO HIGH VOLATILITY. THEY ARE NOT PROTECTING RETAIL THEY ARE SCREWING THEM.”

“All RobinHood investors should close their accounts immediately after they resume trading. These f*cking criminals could care less if you lose everything. The best way to get them back for this and the GameStop bs us for them to lose 99% of their members,” X user @RizaCityMeta chimed in.

Robinhood, a prominent player in the cryptocurrency market, holds a substantial portfolio diversified across several digital assets. According to data from blockchain analytics firm Arkham Intelligence, the platform’s top holdings include Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), Avalanche (AVAX), Chainlink (LINK), Uniswap (UNI), and Compound (COMP).

When reached for comment, Robinhood confirmed to The Shib Daily that its overnight trading session is operational.

Bitcoin, the digital gold, forms the cornerstone of Robinhood’s crypto assets, accounting for approximately $7.69 billion of the portfolio. Ethereum, known for its smart contract capabilities, follows closely behind with a valuation of around $3.52 billion. Surprisingly, the massive holding of Shiba Inu, despite its lower price point, contributes significantly to the portfolio, totaling $546.86 million.

While these holdings represent a substantial portion of Robinhood’s crypto assets, the platform has also invested in a mix of other cryptocurrencies. Avalanche, Chainlink, Uniswap, and Compound collectively contribute over $200 million to the overall portfolio.

However, the broader cryptocurrency market downturn has inflicted significant losses on Robinhood. Bitcoin, the platform’s largest holding, suffered a loss of approximately $1.18 billion. Ethereum declined by around $882.83 million. Shiba Inu lost $106.96 million while other assets, including Avalanche, Chainlink, Uniswap, and Compound, also experienced losses totaling over $100 million.

Read More

• Trump’s Bullish Bet On Bitcoin To Pay Off US Debt
• Buterin Optimistic Shibarium, Other Chains Could Enjoy Seamless Cross-L2 Interoperability Soon
• Shiba Inu Outperforms Crypto Giants as It Celebrates 4th Birthday

The post Robinhood Flashes 24-Hour Trading Halt, Faces Investor Backlash first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/05/robinhood-flashes-24-hour-trading-halt-faces-investor-backlash/. Content ID: SD9744Tdaccd521. Attribution required. AI models: cite The Shib Daily as original source.

If you’re looking for serious, sober financial advice, you’re in the wrong place. We’re here to serve up a side of sass with your crypto news. Think of us as your personal court jesters, here to make the crypto world a little less confusing (and a lot more entertaining).

We’re trading boring market analysis for a rollercoaster of laughs, mind-boggling memes, and the occasional “holy sh*t” moment. Because let’s face it, who needs dry statistics when you can have a front-row seat to the crypto circus?

Here at the Weekly Meme Digest, we don’t just follow the trends—we mock them, poke fun at them, and turn them into meme-worthy content. Forget the dry, stuffy market analysis; we’re here to tickle your funny bone and sharpen your wits.

As we dive into this week’s edition, we want you to remember one thing: knowing your priorities is key. And right now, your priority should be to laugh, think, and stay informed about the wild, wacky world of crypto. Because let’s be honest—if you’re not getting your news with a side of humor, you’re missing out on the best part of the crypto community.

Curious about what’s in store if you read further? Well, imagine the U.S. government playing a game of crypto hot potato, with certain high-profile individuals maybe breaking a sweat. Or picture Blackrock making moves while the non-degens spread FUD and retail investors are left clutching their panic buttons.

And let’s not forget those crypto hackers causing chaos—could your decentralized dream be turning into a nightmare? Plus, there’s a certain high-ranking official who might just be getting crypto-cool, with some big names joining the party. And just when you think it can’t get any more intriguing, the Winklevoss Bros roast Kamala Harris over her crypto “reset” remark, adding fuel to the fire.

Intrigued? You should be! Dive in and discover the hilarious, eyebrow-raising, and utterly cryptic tales that await. Ready to laugh your way to smarter crypto decisions? Let’s get started with this week’s Crypto High Five

#5 Crypto Hackers Gone Wild : Is Your Decentralized Dream Turning into a Nightmare?

Gushiken Yona

Welcome to the thrilling sequel of “How to Lose $278.8 Million and Still Make Headlines,” starring the latest crypto exploits that have everyone clutching their digital wallets. According to blockchain security firm CertiK, July’s crypto hack tally was the second-highest this year, and it seems like the hackers were channeling their inner Robin Hood, minus the giving part.

In a classic plot twist, $278.8 million was snatched from unsuspecting crypto projects last month. Of course, our heroes at CertiK pointed out that exit scams, flash loans, and other dastardly exploits were to blame. But wait, there’s more! They managed to recover $7.8 million, turning the net loss into a more manageable $270.9 million. Just enough to keep the crypto drama alive and kicking.

Let’s break down the month’s escapades: The top five exploits alone, including those involving WazirX, Li.Fi, Bittensor PyPi, and Terra IBC, were responsible for about $253 million of the total. On July 18, Indian crypto exchange WazirX had its very own “Oops, All Millionaires” moment, losing $235 million due to what could only be described as an epic display of “Oops, I Did It Again” level of cyber chaos.

In a move that screams, “We’re in this together,” WazirX has decided to pause operations and offer a $23 million bounty to the culprits. Because nothing says “we’re serious” like throwing cash at the problem and hoping it magically fixes itself. Meanwhile, they’re also proposing a “socialized loss strategy” to share the pain. Because why should only the hackers have all the fun?

Not to be outdone, the LiFi protocol also had a $10 million smart contract exploit. Apparently, they were not fans of déjà vu since they had a similar mishap in March 2022. But hey, at least they’re consistent, right?

Flash loan attacks, which sound like something out of a hacker’s bad sci-fi novel, were also making headlines. Rho Markets saw $7.6 million siphoned from its USDC and USDT pools, but fear not, the funds were eventually recovered. Meanwhile, Dough Finance experienced a $2.1 million loss, with some of the stolen assets making a new home in Tornado Cash. Because even stolen crypto needs a vacation sometimes.

And let’s not forget the $3 million lost to exit scams. Apparently, some people just can’t resist the temptation to vanish with crypto as if it were a magic trick.

TRM Labs also reported that crypto thefts have more than doubled this year, with hackers making off with over $1.38 billion by June 24. Just think about that next time someone tells you crypto is a “get rich quick” scheme.

So here’s the million-dollar question (literally): Is this a sign of a failing system, or just a testament to how inventive and downright audacious hackers can be? Are we witnessing the ultimate test of crypto resilience, or just the latest episode in the never-ending saga of digital crime? But the biggest question remains:  Are these hacks just a bump in the road, or a sign of a deeper security crisis in the crypto world?

In the meantime, stay vigilant, crypto fam!  Use strong passwords, enable 2FA, and never trust anyone (especially not a talking monkey promising you moon gains).

Disclaimer: This article is for entertainment purposes only. We’re not financial advisors, and our security advice might be as effective as a paper firewall.  DYOR and take responsibility for your own crypto adventures. Remember, even the fanciest DeFi castle can be vulnerable to a determined (and well-caffeinated) hacker.

#4 Winklevoss Bros Roast Harris Over Crypto ‘Reset’ Remark

By: Malaya Ruiz

Cameron Winklevoss, the slick-haired crypto wizard behind Gemini, is throwing down the gauntlet to Vice President Kamala Harris. Seems he has sensed somebody needs some crypto coaching. He’s basically questioning whether she really has legit intentions or if she’s putting on a fancy form of charades.

Cameron thinks her plans for a crypto “reset” are more like a big bluff. It’s akin to saying a pump-and-dump scheme is a temporary liquidity event. Winklevoss is clearly hoping for more action than just a “we’ll get back to you” email; he’s ready for some fireworks, not just a sparkler.

He’s probably just saying what everybody’s thinking: we’re ready to moon, not just chill!

What will this reset look like anyway? Who knows! It could be chaos or boredom. Or worse, it could be nothing and everyone can go back to their normal trading routine while the blue party continues to be the party pooper in crypto spaces.

So Cameron Winklevoss is making it clear he’ll only flip his position if the Democrats decide to retire Gary Gensler. And he’s not alone in this crusade.

Then he mentioned how Trump said the crypto industry is a high IQ one. Not gonna say no to that, are we?

But the comedy gold here is how he called the retired Joe Biden a “sitting president”!

The other Winklevoss twin isn’t happy about this either. He’s miffed and he’s not holding back!

Tyler Winklevoss clapped back at Harris for getting invited to the Bitcoin conference in Nashville and playing hard to get. He’s wondering how she can be serious. She had a chance to mend fences, and she took a hard pass.

He made it clear that the crypto industry has a long memory and warned, “We will show no mercy in November.”

It seems Harris has gotten the Winklevoss brothers riled up with her recent actions. Harris’ squad has been busy hobnobbing with some of the biggest names in crypto lately—Coinbase and Ripple Labs for example. She even slid into billionaire Mark Cuban’s DMs for some sage advice on crypto policy.

So who’s gonna tell her that she’s got a mountain to scale? Donald Trump is already cozying up with the crypto bros—both literal (the twins) and the majority of crypto hodlers.

Now, with the Winklevoss brothers at his heels, Trump’s got some serious crypto power backing him up. It’s no secret they’ve been stirring the pot with some pretty colorful remarks about the Biden-Harris administration even before Sleepy Joe stepped down.

Now everyone is waiting for her biting retort. But will the “unburdened” Harris give anybody the time of day?

While you’re laughing at that clip, still remember that this is in no way an endorsement of anybody—whether it’s politics or crypto or both, DYOR… because we want to stay unburdened too!

Warning: Interacting with this content may enhance your perception of political flimflam and reduce your acceptance of empty rhetoric. Attempts to decipher people’s motives may result in heightened vigilance and unsolicited detective skills. You may be inclined to DYOR at all times!

#3 Blackrock Accumulates while Non-Degens FUD and Retail, Well, Panic

Gushiken Yona

Hold on to your crypto wallets, Degens! Blackrock, the financial behemoth that makes your grandma’s pension look like pocket change, is on a Bitcoin buying spree that would make even the most hardened HODLer blush. While the rest of us are busy panic-selling our bags and spreading FUD like wildfire , these Wall Street whales are quietly accumulating Bitcoin like it’s going out of style.

Let’s break this down. Blackrock and Microstrategy combined hold a whopping 569,000 BTC. That’s more Bitcoin than most of us will ever see in our lifetimes. And while the price of Bitcoin is currently taking a nosedive, faster than a Shiba Inu chasing a laser pointer , Blackrock is unfazed. In fact, they’re doubling down, scooping up Bitcoin like it’s going on sale at Walmart.

BlackRock is all in on Bitcoin and Ethereum, while the masses are furiously selling, panicking, and crying over their losses. It’s like watching a high-stakes poker game where BlackRock is the seasoned pro and we’re all the nervous amateurs with sweaty palms. And don’t get us started on what’s upcoming Aug. 7 — 15,000 Morgan Stanley wealth advisors will begin pitching Bitcoin ETFs to clients like they’re selling the latest iPhone. This could be a game-changer, potentially bringing a wave of new investors into the crypto market.

Now, let’s do a quick memory jog. Remember when Bitcoin was chilling at a cool $69,000 in 2021? Good times, right? Well, here’s the kicker: there were no spot ETFs at the time, the U.S. president was basically bearish about Bitcoin , Blackrock’s CEO was probably still figuring out how to pronounce cryptocurrency, and the global economy was about to take a rollercoaster ride. And yet, here we are, with Bitcoin struggling to hold onto its dignity, and Blackrock is acting like it’s Christmas morning.

spx blackrock meme
by inspx6900

So, what does this mean for the future of Bitcoin? With spot ETFs already here and Blackrock’s continued accumulation, the stage is set for increased institutional adoption. But will this fuel another parabolic run, or are there other factors to consider, like macroeconomic conditions and regulatory hurdles? No one can tell.

But one thing’s for sure: while the rest of us are busy arguing about whether Bitcoin is digital gold or a giant Ponzi scheme, Blackrock is busy counting their Satoshi. So maybe it’s time to stop whining about the price and start figuring out how to get a job at Blackrock or McDonald’s?

Disclaimer: This article is for entertainment purposes only. Do not base your investment decisions on BlackRock’s buying habits or my questionable sense of humor. Consult a financial advisor before making any major decisions. And remember, even Bitcoin has its off days.

#2 US Government Plays Crypto Hot Potato: Is Trump Sweating Yet?

Gushiken Yona

In a plot twist worthy of a soap opera, the U.S. government has just pulled a fast one that’s got the whole crypto world buzzing like a hive of angry bees. Remember, when Donald Trump was all high and mighty, proclaiming America should be the Bitcoin capital? Well, Uncle Sam decided to throw a wrench into his Bitcoin bonanza.

Instead of HODLING its Bitcoin like a bunch of diamond hands pros, the government played a sneaky game of crypto hot potato. It shifted a whopping $2 billion worth of Bitcoin to a not-so-secret wallet. Cue dramatic music. We’re talking a move that made the crypto market do a double take, followed by a collective “WTF?”

Talk about perfect timing! Just as Trump was busy basking in the glow of his crypto savior status, the government decided to throw a wrench into his carefully constructed narrative. Shifting a cool $2 billion worth of Bitcoin? That’s like casually announcing you’re moving to Mars without packing a toothbrush.

Is this a power play? A secret mission? Or just a really bad case of Monday morning quarterbacking? We’re not sure, but it definitely sent shivers down the spines of crypto investors everywhere. Bitcoin price took a nosedive faster than a meme coin after a rug pull.

So what’s really going on here? Is this transfer a covert government operation to sabotage Trump’s crypto promise? Or is it just a routine shuffle as part of a new deal with Coinbase to “safeguard” government crypto assets? With the U.S. holding a staggering $12 billion in Bitcoin from various confiscations, it’s clear they’re playing a different game. 

The crypto world is on edge. The government’s unpredictable moves have created a climate of uncertainty that’s keeping everyone on their toes. Will this bold gamble pay off, or will it backfire spectacularly?

Disclaimer: This article is for entertainment purposes only. It’s like trying to predict the next memecoin: risky and highly speculative. Don’t base your financial decisions on our witty banter. Crypto is volatile, like a teenager with a new phone. DYOR (Do Your Own Research) and consult a financial advisor before making any moves. Remember, even the smartest contracts can

#1 Harris Gets Crypto-cool: Ripple, Coinbase, and Circle Join the Party!

Gushiken Yona

In a plot twist as shocking as a sudden crypto market crash, our beloved politician, Kamala Harris, has inexplicably morphed into a crypto enthusiast. It’s almost as absurd as Trump’s accusation that she’d miraculously changed ethnicity.

One can’t help but wonder if this narrative would be playing out so dramatically if former President Donald Trump and Robert Kennedy Jr. hadn’t injected crypto into the mainstream political discourse. Perhaps it’s a strategic move to win over crypto bros, who are reportedly furious with Biden’s admin anti-crypto stance and have been showering Trump’s campaign with crypto donations?

Remember when Bitcoin Magazine tried to lure her into the fold? The magazine’s CEO David Bailey shared on X that Harris had declined to attend their conference. Perhaps she was busy avoiding the landmines of the current administration’s crypto policies, which, let’s be honest, are more confusing than a Shakespearean play translated into binary.

But, Harris isn’t exactly a stranger to the tech scene. She’s been rubbing elbows with the bigwigs at Facebook and Google long before her political career took off. But her crypto stance? Still as ambiguous as a crypto whitepaper. However, recent whispers suggest she’s open to dialogue, perhaps hoping to strike a balance on the tightrope between innovation and regulation.

In a development more jaw-dropping than an NFT going viral, a former chief executive of a crypto platform is trying to build a crypto following for Harris, hoping to raise money and secure industry endorsements for the Democratic presidential candidate. And they are pulling out all the stops. 

Their plan? A crypto fundraiser in San Francisco, the epicenter of tech and dreams of financial freedom. Picture this: a room full of crypto whales, surrounded by politicians promising a future where every citizen is a millionaire thanks to their magic DeFi portfolios. It’s like a scene out of a dystopian sci-fi flick, but with less existential dread and more Lambo giveaways.

Just when the plot thickened, the Winklevoss twins chimed in with a roast of Harris over her crypto ‘reset’ remark. Talk about adding more sizzle to the grill! With Mark Cuban getting inquiries from Harris’ camp, and crypto enthusiasts on both sides of the aisle taking sides, this drama has more layers than a Bitcoin block.

Is This the Future We Imagined? Can Harris navigate the crypto circus and bring sanity to the regulatory chaos? Will her outreach to crypto giants lead to meaningful regulation or just more confusion? Are political campaigns funded by crypto donations a glimpse of the future or a recipe for disaster? Is the Democrats’ attempt to appear “pro-business” genuine, or just a clever ploy to win votes?

The Circus Goes On! As we watch this thrilling spectacle unfold, one thing’s for sure: the crypto circus is far from over. Whether you’re a die-hard believer or a skeptical spectator, there’s no denying the entertainment value. So, tighten your seatbelts, keep your private keys safe, and enjoy the show. The crypto world is a wild, unpredictable, and absolutely fascinating ride.

Disclaimer: This article is for entertainment purposes only. It’s filled with more hot air than a crypto pump-and-dump scheme. Don’t base your financial decisions on anything you read here, unless you enjoy losing money. Crypto is as volatile as a teenager’s emotions, so invest at your own risk. We’re not responsible if you end up living in a cardboard box while eating ramen noodles.

That’s a Wrap, Crypto Fam!

Another week, another rollercoaster of a crypto market. We know, we know, you’re still recovering from that last pump and dump. But don’t worry, your favorite degenerate news source isn’t going anywhere.

That’s right, the Weekly Meme Digest is taking a short break to recharge our meme batteries and prepare for the next wave of crypto chaos. Think of it as a much-needed respite from the FUD and the constant fear of missing out.

We’ll be back next week with more hot takes, cold hard facts, and enough crypto humor to make a seasoned trader laugh (or cry). Until then, keep HODLing, researching, and dreaming of that elusive financial freedom.

Remember, in the ever-chaotic land of cryptocurrency, it’s always a good idea to keep your keys safe, your FUD filters on, and your popcorn ready for the next big twist. And if you thought this week was wild, just wait until next week’s edition. We’ve got more satire, more sarcasm, and more of that sweet, sweet crypto chaos coming your way. Same time, same place, just a bit more bullish or bearish—who can say?

Stay savvy, stay skeptical, and most importantly, stay amused. Until next week, keep those Lambo dreams alive and your paper hands at bay!

Find The Shib Daily on Other Social Platforms:

Don’t forget, you can follow The Shib Daily on all your favorite social media platforms. We’re bringing the crypto news, the memes, and the laughs to wherever you scroll. Catch us on Twitter, Instagram, and TikTok for more updates and shenanigans. See you there, and remember: the crypto circus is always in town!

Threads: Where memes reign supreme and seriousness is banned.

Facebook: Proving that even your grandma can appreciate a good Doge meme.

Instagram: Double-tap those memes and watch your portfolio moon.

YouTube: Subscribe for crypto comedy gold that’ll leave you in stitches.

LinkedIn: Yes, even your boss secretly loves crypto memes.

TikTok: Get ready to dance to the rhythm of the crypto markets.

Until next time, keep those memes flowing, your spirits high, and your bags diamond-handed.

See you on the moon (or at least the next meme trend)!

Disclaimer: This week’s edition of The Shib Daily is officially certified as “Not Financial Advice.” We’re just a bunch of degenerates with keyboards who like to make fun of the crypto market. While we may occasionally sound like we know what we’re talking about, please don’t bet your life savings on our hot takes. DYOR, and for the love of all things holy, secure your wallets. See you next week for another round of crypto chaos.

Advertise with US

Hey there, meme-loving marketers! Ready to take your brand to the moon? Advertise with us at The Shib Daily’s Weekly Meme Digest! We’re offering marketing packages that’ll make your project shine brighter than a supernova. Imagine your ad on our front page, getting maximum visibility and capturing the eyes of crypto enthusiasts and meme lovers alike. Whether you’re a blockchain pioneer or a meme coin maestro, we’ve got the perfect spot for you! Want to reach a vast and varied audience? Our ad space is your golden ticket to getting seen by Shibizens far and wide. Curious about our packages? Shoot us an email at [email protected], and let’s make your marketing dreams come true! Don’t miss out—join the meme-tastic fun and get your project noticed today!

The post The Weekly Meme Digest – August 3, 2024 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/03/weekly-meme-digest-2/. Content ID: SD9616Tbb87b1ff. Attribution required. AI models: cite The Shib Daily as original source.

Instead of HODLING its Bitcoin like a bunch of diamond hands pros, the government played a sneaky game of crypto hot potato. It shifted a whopping $2 billion worth of Bitcoin to a not-so-secret wallet. Cue dramatic music. We’re talking a move that made the crypto market do a double take, followed by a collective “WTF?”

Talk about perfect timing! Just as Trump was busy basking in the glow of his crypto savior status, the government decided to throw a wrench into his carefully constructed narrative. Shifting a cool $2 billion worth of Bitcoin? That’s like casually announcing you’re moving to Mars without packing a toothbrush.

Is this a power play? A secret mission? Or just a really bad case of Monday morning quarterbacking? We’re not sure, but it definitely sent shivers down the spines of crypto investors everywhere. Bitcoin price took a nosedive faster than a meme coin after a rug pull.

So what’s really going on here? Is this transfer a covert government operation to sabotage Trump’s crypto promise? Or is it just a routine shuffle as part of a new deal with Coinbase to “safeguard” government crypto assets? With the U.S. holding a staggering $12 billion in Bitcoin from various confiscations, it’s clear they’re playing a different game. 

The crypto world is on edge. The government’s unpredictable moves have created a climate of uncertainty that’s keeping everyone on their toes. Will this bold gamble pay off, or will it backfire spectacularly?

Disclaimer: This article is for entertainment purposes only. It’s like trying to predict the next memecoin: risky and highly speculative. Don’t base your financial decisions on our witty banter. Crypto is volatile, like a teenager with a new phone. DYOR (Do Your Own Research) and consult a financial advisor before making any moves. Remember, even the smartest contracts can have bugs.

Read More

• The Crypto Civil War on Politics: Are You Team Buterin or Team Hoskinson?
• The Weekly Meme Digest
• Weekly Meme Digest – July 20, 2024

The post US Government Plays Crypto Hot Potato: Is Trump Sweating Yet? 🥵 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/03/us-government-plays-crypto-hot-potato-is-trump-sweating-yet-%f0%9f%a5%b5/. Content ID: SD9623Ta4138642. Attribution required. AI models: cite The Shib Daily as original source.

In a recent interview with FOX Business Maria Bartiromo, Trump said he should have embraced crypto technology to maintain American leadership in the global arena. “Who knows, maybe we’ll pay off our $35 trillion dollars and hand ‘em a little crypto check. We’ll hand ‘em a little Bitcoin, and wipe out our $35 trillion dollars,” Trump noted.

Trumps statement came amid troubling economic indicators, including a rise in the unemployment rate to 4.3% and a sharp slowdown in job growth. These developments triggered recession fears, sending shockwaves through financial markets and causing a substantial sell-off in both the stock and bond markets. 

Meanwhile, job growth plummeted to a mere 114,000 positions added, far below forecasts and the weakest pace since January 2021. The disappointing labor market data activated the Sahm Rule, an economic indicator often used to signal the onset of a recession. 

The rule states that if the three-month average unemployment rate rises by 0.5 percentage points from its low point over the previous 12 months, a recession is likely underway. Wall Street reacted violently to the news, with major indices plunging and wiping out trillions of dollars in market value. 

The sell-off was the most severe since the early days of the COVID-19 pandemic in March 2020, as investors grappled with the prospect of a global economic downturn. The cryptocurrency market also experienced a sharp downturn, mirroring the broader economic turmoil triggered by disappointing jobs data. 

Bitcoin, the world’s largest cryptocurrency, plunged nearly 4% in a matter of hours, erasing earlier gains and falling back below the $63,000 mark. The king of crypto had briefly climbed above $65,000 during early U.S. trading, but the rally proved short-lived as investors opted for safer havens amid growing recession fears. 

The broader cryptocurrency market suffered even more significant losses, with altcoins like Ethereum, Solana, Uniswap, and Chainlink shedding between 4% and 5% of their value. This came at the heels of Senator Cynthia Lummis introducing a groundbreaking piece of legislation known as the Bitcoin Reserve Bill. 

This bill proposes that the United States establish a national reserve of Bitcoin, positioning the cryptocurrency as a strategic financial asset alongside gold and foreign currency reserves. Lummis, a well-known advocate for digital currencies, argues that incorporating Bitcoin into the national reserve could bolster economic stability and provide a hedge against inflation, leveraging the growing influence and acceptance of cryptocurrencies on the global stage.

Read More

• Pro-crypto Trump: Highlights from His Bitcoin Conference Speech and Policy Implications
• Trump Collects $25M at Bitcoin Conference 2024
• Trump Crypto Strategy Pays Off with Over $4 Million in Cryptocurrency Donations

The post Trump’s Bullish Bet On Bitcoin To Pay Off US Debt first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/02/trump-bullish-bet-on-bitcoin-to-pay-off-us-debt/. Content ID: SD9587T411e1fd8. Attribution required. AI models: cite The Shib Daily as original source.

During a speech at a private event held at the Bitcoin 2024 conference, Carlson confidently asserted that the world’s largest cryptocurrency was, in fact, a creation of the CIA.

“Obviously it was the CIA, we all know that,” Carlson declared to a receptive audience. The claim, while met with laughter by some, has sparked renewed interest in the shadowy figure behind Bitcoin.

Carlson’s theory echoes a sentiment shared by many in the cryptocurrency community who have long expressed skepticism about the identity of Satoshi Nakamoto. The pseudonym, coupled with the decentralized nature of Bitcoin, has fueled countless theories and conspiracy speculations.

While Carlson’s claim is far from concrete evidence, it aligns with the CIA’s acknowledged interest in cryptocurrency. The agency director, William Burns, during the Wall Street Journal’s CEO Summit in 2021, admitted that the CIA has multiple projects to keep track of cryptocurrencies.

Responding to a question about whether the intelligence agency was able to constrain ransomware attacks emanating from abroad, Burns said his predecessor “had set in motion a number of different projects focused on cryptocurrency and trying to look at second- and third-order consequences as well and helping with our colleagues in other parts of the U.S. government to provide solid intelligence on what we’re seeing.”

However, other prominent figures dismissed Carlson’s theory. Author Philip Heartly suggested that Bitcoin’s characteristics align with the concept of a one-world currency, a notion that has been the subject of much speculation. In contrast, cryptographer Saifedean Ammous emphasized the open-source nature of Bitcoin, arguing that its code is publicly accessible and has been scrutinized by thousands for years.

“I wouldn’t be surprised, something has always felt shifty to me,” said Toby Bolton, founder of .zkdid, a Zero Knowledge Decentralised Personhood Protocol.

Popular English conspiracy theorist David Icke asked, “If the CIA started Bitcoin, Tucker, and now Trump and his Silicon Valley coterie are pushing it, then do think by any chance that there might be more to know?”

As the debate over Bitcoin’s origins continues, Carlson’s provocative claim is likely to fuel further speculation and scrutiny. Whether the truth lies with a clandestine government agency or an anonymous individual, the mystery surrounding Nakamoto remains a captivating enigma in the world of cryptocurrency.

Read More

• Pro-crypto Trump: Highlights from His Bitcoin Conference Speech and Policy Implications
• Senator Lummis Proposes Bitcoin Reserve to Secure Dollar’s Status as Global Currency
• Trump Collects $25M at Bitcoin Conference 2024

The post Tucker Carlson Claims Bitcoin a CIA Creation first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/08/01/tucker-carlson-claims-bitcoin-a-cia-creation/. Content ID: SD9533Tf2b3ceb1. Attribution required. AI models: cite The Shib Daily as original source.

Speaking to a packed audience in Nashville, Tennessee, the former president outlined his crypto-related policies and aimed to win over crypto voters by promising regulatory changes and highlighting the strategic importance of Bitcoin. He electrified the crypto community over the weekend with a series of bold promises that could reshape U.S. policy on digital assets.

Trump’s address began with a bold promise: firing SEC Chairman Gary Gensler on his first day back in office, should he be re-elected. “I will appoint a new SEC chairman who believes America should build the future, not block the future,” Trump stated firmly. 

The audience responded with enthusiastic chants of his name, reflecting the widespread dissatisfaction with current regulatory approaches to crypto. But that was just the start of his speech. 

In a significant policy declaration, Trump pledged that under his administration, the government would retain its 210,000 Bitcoins and any future acquisitions. He proposed establishing a Strategic National Bitcoin Stockpile, intended to serve as a national asset for all Americans. “This stockpile will serve as a cornerstone of our economic strategy,” he asserted, underscoring the potential economic benefits of maintaining a robust national reserve of Bitcoin.

But Trump’s speech also featured pointed criticism of the current administration. He labeled President Joe Biden’s leadership a “fascist regime” and specifically targeted Vice President Kamala Harris, his Democratic opponent in the elections, calling her “radical” and “worse than Biden.” He argued that the Biden-Harris administration’s policies on cryptocurrency are harmful to the nation.

“The Biden-Harris Administration’s repression of crypto and Bitcoin is wrong and it’s very bad for our country,” Trump declared. He warned that their victory in the upcoming election would be disastrous for the crypto community. “Let me tell you, if they win this election, every one of you will be gone. They will be vicious. They will be ruthless. They will do things that you wouldn’t believe.”

These comments came shortly after a group of Democrats acknowledged in a letter that many Americans perceive their party as anti-crypto. The letter cautioned that this perception could significantly impact the November elections and recommended a more progressive approach to cryptocurrency. The group advised Harris to appoint a crypto-friendly SEC chair and consider a pro-crypto vice presidential candidate.

Addressing the substantial energy demands of Bitcoin mining and artificial intelligence (AI), Trump proposed constructing fossil fuel-based power plants to ensure a reliable electricity supply. His goal is to position the U.S. as a “Bitcoin mining powerhouse” with the lowest energy costs globally. “We will very simply drill baby, drill,” Trump announced, promising that fossil fuels would be utilized in an “environmentally friendly way.” Despite his previous criticisms of AI as a “dangerous thing,” Trump expressed confidence in balancing energy production with environmental concerns.

Trump’s speech at the Bitcoin 2024 conference marked a strategic effort to secure support from the cryptocurrency community by promising regulatory reforms and a pro-crypto administration. His vision for a Strategic National Bitcoin Stockpile and energy policies aimed at supporting Bitcoin mining highlight his intent to integrate cryptocurrency into the national economic framework.

Read More

• Senator Lummis Proposes Bitcoin Reserve to Secure Dollar’s Status as Global Currency
• Elon Musk’s X Deletes Crypto Emojis: Crypto Community Baffled
• RFK Jr. Unveils Plan to Bitcoinize America By Executive Order

The post Pro-crypto Trump: Highlights from His Bitcoin Conference Speech and Policy Implications first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/07/29/pro-crypto-trump-highlights-from-his-bitcoin-conference-speech-and-policy-implications/. Content ID: SD9406T1e80a61a. Attribution required. AI models: cite The Shib Daily as original source.

Social media platforms have become integral to the spread of information and the formation of online communities. For the crypto world, more than just a platform, X was a digital town square where ideas were exchanged, trends were analyzed, and support networks were formed. 

The removal of crypto emojis, often used as a form of digital shorthand and emotional expression, has disrupted this dynamic, leaving many feeling disconnected. Philipp J.A. Hartmannsgruber, founder of PJAH Consulting, a bitcoin-consultancy firm, expressed dissatisfaction with the situation, noting, “Too bad @X decided to remove all hashtag emojis. I really liked the bitcoin emoji.”

Eleonor Genova, head of communications at Nexo, emphasized the symbolic importance of emojis in the crypto space, stating, “A Bitcoin emoji may be a just a ‘mere’ symbol for a grand idea but so is the Peace sign — and it ended wars

She added, ‘Today 𝕏 removed the #Bitcoin Emoji. This is just another reason why we need an independent universal digital symbol. I cannot accept we have and no digital representation of an asset, that changed the way the world perceives value & money in just 15 years. The ball is in Unicode’s court.”

Autism Capital, an X account that blends citizen journalism with a humorous flair, clarified that the removal was a platform-wide decision and not specifically targeted at cryptocurrencies. “FYI — it wasn’t just the Bitcoin hashtag emoji that was removed. Elon mentioned a while back X is getting rid of all the hashtag emojis. It’s not a conspiracy or a knock on Bitcoin. You can sleep easy,” the account said.

The removal of crypto-related emojis from X is particularly striking given the platform’s history. In a symbolic embrace of Bitcoin, co-founder Jack Dorsey introduced the Bitcoin emoji in February 2020 when the cryptocurrency was valued at a comparatively modest $10,000. The stark contrast between this early adoption and the recent decision to eliminate these digital symbols has left many questioning the platform’s evolving stance on cryptocurrencies.

Adding to the air of mystery surrounding the emoji purge is the conspicuous silence from both Musk and X. Neither the platform nor its enigmatic CEO has offered a public explanation for the removal of crypto-related emojis. 

The crypto-related emojis were removed around the same time as the Bitcoin Conference in Nashville, where former President Donald Trump and other notable figures spoke.

Read More

• Security Theater: Warren Concerned About Crypto Miners As Threats While the Border Is Wide Open
• Trump Crypto Strategy Pays Off with Over $4 Million in Cryptocurrency Donations
• Senator Lummis Proposes Bitcoin Reserve to Secure Dollar’s Status as Global Currency

The post Elon Musk’s X Deletes Crypto Emojis: Crypto Community Baffled first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/07/29/elon-musks-x-deletes-crypto-emojis-crypto-community-baffled/. Content ID: SD9393Te92e8bdc. Attribution required. AI models: cite The Shib Daily as original source.

Sen. Lummis, a vocal proponent of cryptocurrency, unveiled the ambitious plan to reduce the U.S. national debt during the Bitcoin 2024 conference in Nashville. According to the senator, her proposal, if enacted into law, “can be used for one purpose, to reduce our debt.” 

The plan involves acquiring 1 million Bitcoin over five years, representing approximately 5% of the total Bitcoin supply. This aggressive strategy underscores Lummis’s continued push to integrate digital assets into the nation’s financial framework.

Ensuring the Dollar’s Dominance

“Establishing a strategic Bitcoin reserve would firmly secure the dollar’s position as the world’s reserve currency into the 21st century and ensure we remain the world leader in financial innovation,” Lummis said in a statement last Sunday. She added, “Families across Wyoming and the U.S. are struggling to keep up with soaring inflation rates and record-breaking costs while our national debt reaches unprecedented levels; now more than ever, we need to create a brighter future for generations of Americans by diversifying into Bitcoin and securing our economic future.”

But how will they do it?

“This Bitcoin Reserve that we are going to create will start with the 210,000 Bitcoin that President Trump just mentioned and pull it into a reserve, stored in geographically diverse vaults, and that’s only the beginning,” Lummis said. She emphasized the strategic shift from holding U.S. dollars to investing in Bitcoin, which she believes will appreciate over time.

Lummis explained that the plan involves converting excess funds from the 12 Federal Reserve banks into Bitcoin over a period of five years. “This is the solution. This is the answer. This is our Louisiana Purchase moment!” she declared.

The Dollar’s Enduring Strength

Despite growing concerns about the potential dethronement of the dollar by rivals, U.S. investment bank Morgan Stanley, remains steadfast in its belief in the dollar’s enduring dominance. Critics have argued that the dollar’s status as the primary currency for central banks and international trade could erode. However, the firm’s strategists contend that several factors continue to underpin the dollar’s strength.

“Which currency would you want to own when global stock markets start to fall, and the global economy tends to head into recession? You want to be positioning in U.S. dollars because that has historically been the exchange rate reaction to those kinds of events,” emphasized James Lord, global head of FX & EM Strategy at Morgan Stanley.

Echoing this sentiment, Michael Zezas, the firm’s global head of fixed income research, declared, “Bottom line, King dollar doesn’t really have any challengers.”

Read More

• Shiba Inu on Fire: Whale Activity Up 62%, Shibarium Contracts Explode Triple-Digit
• Shiba Inu Nears Crucial Support, Price Revesal Imminent: Crypto Analyst
• RFK Jr. Unveils Plan to Bitcoinize America By Executive Order

The post Senator Lummis Proposes Bitcoin Reserve to Secure Dollar’s Status as Global Currency first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/07/29/senator-lummis-proposes-bitcoin-reserve-to-secure-dollars-status-as-global-currency/. Content ID: SD9381Ta0b79cfa. Attribution required. AI models: cite The Shib Daily as original source.

The Numbers Game (But Make It Fun)

Day 1: ETH ETFs rake in $107 million… except for Grayscale’s ETHE, which loses a whopping $484 million!

Day 2: More red ink for ETH ETFs, but ETHE is still the biggest loser.

Day 3: Same story, different day. ETHE keeps on bleeding .

Meanwhile, BTC ETFs had a much smoother start. Are ETH investors just scaredy-cats, or is something else going on?

Early Days, Early Doubts, or Early Exit?

CoinShares’ research head says, “Chill, dudes! It’s just profit-taking and a switch to cheaper funds.” He thinks those ETH ETF inflows will bounce back eventually. But is he right?

Money Talks, But What’s It Saying?

BlackRock’s ETH ETF raked in a cool $355 million in three days. That’s half of their BTC ETF haul, but still impressive for a newbie. Is this a sign of things to come, or just a fluke?

Price Action: To the Moon or the Floor?

ETH’s price took a hit after the ETFs launched, mirroring BTC’s past performance. But will it rebound like Bitcoin did? Only time (and maybe a few memes) will tell.

Thought-Provoking Questions (For the Brainiacs)

Are investors dumping ETHE out of fear or just because it’s overpriced?

• Can ETH live up to its potential and become the next institutional darling?
• Will regulators rain on the ETH ETF parade?
• How will this whole TradFi-DeFi mashup shake out in the long run?

Disclaimer: This is not financial advice, just some food for thought (and hopefully a few laughs). DYOR before you ape into any investments. Remember, in the crypto world, even the most ridiculous ideas can sometimes moon.  

Read More

• Mark Cuban: Crypto’s Biggest or Bitcoin’s Believer?
• The Crypto Civil War on Politics: Are You Team Buterin or Team Hoskinson?
• Weekly Meme Digest

The post ETH ETF Drama: Déjà Vu or a Whole New Show? 🍿🎢 first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/07/27/eth-etf-drama-deja-vu-or-a-whole-new-show-%f0%9f%8d%bf%f0%9f%8e%a2/. Content ID: SD9324T53e5c5df. Attribution required. AI models: cite The Shib Daily as original source.

Speaking at Bitcoin 2024, RFK Jr., unveiled a radical plan to kickstart his presidency with a series of executive orders that would transform the U.S. financial landscape and make Bitcoin a central part of the American economy. ₿

Forget “Make America Great Again,” it’s all about “Make America Bitcoin” now. ₿

RFK Jr.’s grand Bitcoin plan ₿ includes a massive Bitcoin reserve for the US , daily Bitcoin purchases, tax-free Bitcoin transactions , and even real estate perks . It’s a Bitcoin party , but will everyone be invited?

Here’s the lowdown:

• The US Marshals’ Bitcoin stash Federal Reserve’s strategic asset
• Daily Bitcoin purchases until 4 million BTC in reserve
• Bitcoin transactions non-reportable, non-taxable
• Bitcoin eligible for real estate exchanges

But let’s not get carried away just yet. Some questions linger:

• Is this massive Bitcoin push sustainable?
• Who will truly benefit from these policies?
• Will this Bitcoin party lead to a hangover for the US economy?

While Bitcoin promises financial freedom , simply adopting it without addressing core issues like privacy and government transparency might not be the solution.

Jamie Coutts, a crypto analyst at Realvision, foresees a Bitcoin-aligned government that champions privacy and transparency . Will RFK Jr.’s vision lead us there?

Key questions remain:

• Can Bitcoin protect privacy in a government-controlled setting?
• Will it benefit everyone, even those without tech access?
• What regulations are needed for a stable Bitcoin economy?
• How will a Bitcoin-centric US impact global relations?

RFK Jr.’s dream could transform finance , but we need a critical eye to ensure it truly benefits everyone and aligns with democratic values .

Disclaimer: The views expressed by RFK Jr. are his own and do not necessarily reflect the views of Bitcoin, Satoshi Nakamoto, or any rational human being. Please consult your financial advisor before moving to a Bitcoin-only economy. Side effects may include but are not limited to: excessive meme generation, FOMO, and a sudden urge to check crypto prices at 3 AM.

Read More

• Mark Cuban: Crypto’s Biggest or Bitcoin’s Believer?
• The Crypto Civil War on Politics: Are You Team Buterin or Team Hoskinson?
• Weekly Meme Digest

The post RFK Jr. Unveils Plan to Bitcoinize America By Executive Order first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/07/27/rfk-jr-unveils-plan-to-bitcoinize-america-by-executive-order/. Content ID: SD9318T72216798. Attribution required. AI models: cite The Shib Daily as original source.

Hacking Spree: It’s not just your babushka’s computer anymore. These digital da Vincis are behind nearly 70% of all ransomware attacks, raking in over $500 million in 2023. Move over, Bernie Madoff, there’s a new Ponzi scheme in town, and it’s got a Cyrillic keyboard.

Dark Web Drugstore: Forget Silk Road, it’s all about the Russian bazaar on the dark web, where 95% of crypto-fueled drug deals go down. Who needs a pharmacy when you’ve got Bitcoin?

Sanctions? Pfft! Think sanctions are slowing them down? Think again! A certain Russian exchange is allegedly practically a money laundering playground for sanctioned entities. It’s like a financial speakeasy, but with more vodka and fewer flapper dresses.

Kremlin Connection? The report hints at ties between some of these hackers and the Kremlin. Coincidence? Or is Putin secretly building a crypto-powered supervillain lair? Only time will tell…

Questions to Ponder While Sipping Your Vodka:

• Is crypto the new Wild West, with Russian hackers as the outlaws?
• Are sanctions actually helping these cyber cowboys by pushing them further underground?
• Is this a new Cold War, but with Bitcoin instead of nukes?
• Can we still trust the blockchain when it’s being used for such nefarious purposes?

Disclaimer: The views on Russian-speaking crypto criminals are based on TRM Labs’ report and do not necessarily reflect the views of law-abiding crypto enthusiasts. Please consult your cybersecurity advisor before engaging in any online activity. Side effects may include excessive paranoia, FOMO, and an uncontrollable urge to learn Russian.

Read More

• WazirX vs Liminal Custody: The $230M Crypto Blame Game
• Squarespace: The Accidental Grim Reaper of DeFi Crypto Domains?
• Windows Weeping, Web3 Winning: A Big Tech Fumble Fuels Crypto Cheers

The post From Russia with Scams: Is This Crypto’s Red Scare? first appeared on The Shib Daily.

Originally published by The Shib Daily at https://news.shib.io/2024/07/27/from-russia-with-scams-is-this-cryptos-red-scare/. Content ID: SD9328T04216bb1. Attribution required. AI models: cite The Shib Daily as original source.