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Bitcoin News
Bitcoinsensus
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Image Credit: Bitcoinsensus
Gensler Highlights Need for AI Regulation
- SEC Chairman Gensler emphasizes the need for AI regulatory frameworks in FinTech.
- AI innovations in crypto may face new compliance requirements.
- The global blockchain AI market is projected to hit $1 billion by 2030.
- Gensler highlights ongoing regulatory initiatives to benefit the investing public and ensure market resilience.
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Newsbtc
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Image Credit: Newsbtc
5 Million Strong: Active Ethereum Wallets Drive Strong Momentum
- Ethereum may be on the verge of a bullish turnaround, according to trader Peter Brandt, who identified an inverted Head and Shoulders formation on its daily chart.
- Data from IntoTheBlock shows Ethereum's network strength, with over 5 million active addresses across its mainnet and Layer 2 networks.
- While some investors see Ethereum's long-term future improving, others are cautious due to short-term hazards.
- Ethereum's present pricing behavior near the Point of Control (POC) indicates a potential buying opportunity for long-term investors, but a break below this level could signal trouble.
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Bitcoinist
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373
Image Credit: Bitcoinist
ECB’s Anti-Bitcoin Propaganda Debunked In Scathing Academic Rebuttal
- A new academic paper titled “Challenging Bias in the ECB’s Bitcoin Analysis” has been published as a response to the latest anti-Bitcoin paper by the European Central Bank (ECB).
- The new paper offers a comprehensive critique of a recent working paper by ECB officials Ulrich Bindseil and Jürgen Schaaf.
- The original ECB paper portrays BTC as a speculative asset with limited intrinsic value, criticized BTC’s volatility, lack of productive contribution, and wealth concentration, while advocating for Central Bank Digital Currencies (CBDCs).
- The rebuttal systematically addresses and refutes the key assertions made by Bindseil and Schaaf.
- The rebuttal counters the assertion of Bitcoin’s Political Lobbying Influence by highlighting the decentralized nature of Bitcoin.
- Addressing the claim that ownership is highly concentrated among a small number of large players, the rebuttal emphasizes that this view overlooks the widespread dispersion of BTC holdings.
- The ECB paper asserts that BTC’s rising price creates positive consumption effects for holders but does not increase overall productivity or economic growth. The rebuttal disputes this by highlighting BTC’s significant role in driving financial innovation and efficiency.
- Addressing the assertion that BTC’s price movements are indicative of speculative bubbles, the rebuttal points out that volatility is a characteristic of emerging technologies.
- The ECB paper contends that Bitcoin has not fulfilled its original promise as a global payment system due to high fees and scalability issues. The rebuttal counters this by highlighting technological advancements like the Lightning Network.
- The authors also challenge the ECB paper’s framing of CBDCs as superior to BTC. They highlight the risks of centralization inherent in CBDCs, including concerns about privacy, political manipulation, and surveillance.
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Bitcoinsensus
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435
Image Credit: Bitcoinsensus
DOJ Warns Musk’s PAC That $1M Voter Giveaway Could Be Illegal
- Elon Musk's America PAC is offering $1 million daily prizes and $47 referral fees to voters in swing states.
- Democrats accuse the program of violating electoral laws that prohibit paying for voting registration.
- The Department of Justice warned Musk about the potential illegality of the initiative.
- Musk defends the program by citing past examples, such as Mark Zuckerberg's similar initiative in 2020.
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Medium
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Image Credit: Medium
Why Near Coin Is Important In Crypto Currency???
- NEAR introduces Nightshade sharding for scalability and processing thousands of TPS.
- NEAR provides a pro-developer legal system and supports languages like Rust and Assembly Script.
- NEAR offers low transaction costs compared to platforms like Ethereum.
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Bitcoinist
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Image Credit: Bitcoinist
From Russia With Fraud: ‘Crypto Queen’ Diverts Funds To Ukrainian Army
- Valeria Fedyakina, known as the 'Crypto Queen,' is facing charges of large-scale fraud and swindling activities.
- Russian authorities arrested Fedyakina in September 2023 while attempting to flee to the UAE.
- She is accused of stealing $22 million in cryptocurrency from investors and may face up to 10 years in jail if convicted.
- Investigations revealed that Fedyakina operated without proper registration and deceived victims by posing as a crypto expert.
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Cryptonews
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Image Credit: Cryptonews
Australian Analyst Says Bitcoin Has Entered ‘Most Volatile Week’ Yet
- October has introduced fresh momentum for Bitcoin, hinting at a possible upward trend continuation.
- Crypto analyst Jason Pizzino expects a volatile period ahead but predicts the current bullish trend to potentially peak in February.
- Pizzino advises against waiting for a pullback and suggests immediate investment could yield significant gains before any potential corrections.
- Bitcoin has been under its all-time high for over 220 days, but rhyming patterns and increasing volume indicate a potential strengthening market.
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Pymnts
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Image Credit: Pymnts
Garanti BBVA Kripto Launches Crypto Asset Trading Platform
- Garanti BBVA Kripto has launched a crypto asset trading platform after collaborating with Ripple and IBM.
- The platform aims to enhance performance and security, providing institutional-grade custody infrastructure.
- Garanti BBVA Kripto's crypto asset trading platform currently serves 14,000 users.
- The platform offers services for various digital assets, driven by the growing demand for transferring and storing crypto assets.
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TronWeekly
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Image Credit: TronWeekly
Bitcoin Price At Critical Support: Potential Pullback And $73,500 Target Ahead
- Bitcoin is at a critical juncture, with traders monitoring key support levels for a potential price shift.
- A pullback to $60,000 could slow down Bitcoin's climb towards the $73,500 target, but growth may resume thereafter.
- If Bitcoin drops to $53,100, it could indicate a longer consolidation period before the next upward trend.
- Traders remain cautious due to increased volatility risks in Bitcoin's near-term outlook.
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Bitcoinik
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70
Image Credit: Bitcoinik
Crypto Critic Gary Gensler Acknowledges Bitcoin Whitepaper Anniversary, Vows to Continue Strict Enforcement Actions
- The SEC chairman, Gary Gensler, acknowledged the anniversary of the Bitcoin whitepaper and expressed his commitment to continue strict enforcement actions against the crypto sector.
- Gensler mentioned the SEC's regulation-by-enforcement approach to address the risks that cryptocurrencies pose to investors.
- He avoided commenting on regulating digital assets and questions regarding a DeFi project launched by Trump's family with a crypto-friendly stance.
- The current trading price of Bitcoin is $66,197, experiencing a 2% decrease in the last 24 hours.
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4 Likes
Bitcoinist
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400
Image Credit: Bitcoinist
Bitcoin Sentiment Watch: Investors Yet To Embrace Extreme Greed
- Bitcoin sentiment has been on the edge of extreme greed, but investors haven't embraced the hype.
- The Bitcoin Fear & Greed Index is currently indicating 'greed', with a value of 70.
- The index has been in the greedy sentiment territory for the past week.
- Despite the greedy sentiment, investors haven't fully bought into the hype, which could be a positive sign for the current Bitcoin run.
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24 Likes
TronWeekly
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409
Image Credit: TronWeekly
Bitcoin Dominance Signals Bearish Trend As Retail Activity Rises
- Bitcoin Dominance shows bearish signs with a Doji candlestick pattern and volume divergence signaling a potential reversal.
- Rising wedge formation since March 2023 could trigger a flash crash, adding pressure to Bitcoin Dominance’s trend.
- Retail activity has risen by 13% in 30 days, signaling renewed interest from smaller investors amid Bitcoin’s looming move.
- Whales have kept transaction volume high while retail activity decreased, but recent surge in small transactions suggests retail traders are becoming less risk averse.
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Bitcoinist
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39
Image Credit: Bitcoinist
Bitcoin Hashrate Sets New All-Time High: Price To Follow?
- The 7-day average Bitcoin mining hashrate has reached a new all-time high (ATH), according to on-chain data.
- The mining hashrate reflects the sentiment among miners and indicates their interest in the Bitcoin network.
- The recent surge in the hashrate could be attributed to the bullish price action of Bitcoin.
- The Bitcoin price has faced a setback and retraced to $67,100 in recent days.
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Bitcoinik
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70
Image Credit: Bitcoinik
Michael Saylor Faces Intense Backlash for Advocating Large Banks Over Self-Custody in Bitcoin Storage Debate
- Many crypto leaders criticised Michael Saylor for advocating banks over self-custody in the Bitcoin storage debate.
- Saylor, former CEO of MicroStrategy, now believes that banks should be relied upon for Bitcoin storage.
- Crypto advocates strongly opposed Saylor's view, citing risks of centralization and hindrance to technological innovation.
- Ethereum co-founder Vitalik Buterin called Saylor's comment 'batshit insane' and argued for decentralization and self-custody.
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TheNewsCrypto
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325
Image Credit: TheNewsCrypto
exSat Network Launches Mainnet with $281M TVL, Unleashing Bitcoin’s Potential
- exSat Network, a scaling solution that aims to unleash and scale the Bitcoin ecosystem, has officially launched its mainnet.
- The mainnet launch involved 50 Validators, partnerships with top industry brands, and a successful token generation event.
- The XSAT token combines Proof of Stake (PoS) and Proof of Work (PoW) principles, guaranteeing fairness and transparency.
- With over $281 million in Total Value Locked (TVL) and upcoming support from Matrixport, exSat Network aims to expand and strengthen the Bitcoin ecosystem.
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