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Crypto News

Anthony Pompliano: Bullish on Bitcoin's Future Amid Market Turbulence

Anthony "Pomp" Pompliano, a prominent figure in the crypto space, has voiced his optimism for a significant Bitcoin bull run in a recent appearance on Fox Business. Despite recent market volatility, Pompliano believes Bitcoin's long-term potential remains strong. He points to growing institutional interest, with major companies seeking SEC approval for spot Bitcoin ETFs, and sees Bitcoin as a disruptor of traditional finance due to its decentralization and global accessibility. Pompliano's bullish outlook reflects increasing recognition of Bitcoin's legitimacy and its potential to reshape the financial landscape.

YouTube - 1077 ngày trước

Former PayPal President Envisions Bitcoin as Global Payment Network

Former PayPal President and current CEO of Lightning Network infrastructure firm Lightspark, David Marcus, has expressed his vision of transforming Bitcoin into a global payment network. Marcus emphasized the need for Bitcoin to evolve beyond being a store of value and become a decentralized payment solution akin to PayPal. Despite scalability and regulatory challenges, Marcus is committed to realizing this vision and believes that technological advancements, like the Lightning Network, can address these issues. The goal is to revolutionize the financial industry by making Bitcoin a widely accepted and efficient means of global payment.

YouTube - 1077 ngày trước

Global Leaders at G20 Summit Embrace FSB's Crypto Regulation Proposals

The G20 leaders, meeting in New Delhi, have voiced their support for comprehensive regulation and oversight of crypto-assets and global stablecoins, as recommended by the Financial Stability Board (FSB). They emphasized the need for consistent global implementation to prevent regulatory arbitrage. The leaders also welcomed reports by standard-setting organizations and pledged to discuss a coordinated policy and regulatory framework, taking into account various risks, including money laundering and terrorism financing, at their October 2023 meeting. India's G20 Presidency remains committed to monitoring the rapidly evolving crypto ecosystem.

Bitcoin News - 1078 ngày trước

Bitcoin's 'Fair Value' Calculated at $47K Per Coin

Charles Edwards, founder of Capriole Investments, sees Bitcoin as an attractive long-term investment opportunity, driven by its production cost and energy value. Capriole's energy value theory suggests a fair price of $47,200, with a floor at $23,000, yielding a 1:5 risk-reward ratio. Edwards acknowledges the potential for even higher prices, though he notes historical trends rarely stop at fair value. The theory, based on energy expended in Bitcoin mining, has demonstrated a strong correlation with spot prices. However, caveats include variations in mining efficiency and factors beyond energy value affecting Bitcoin's price.

zerohedge - 1078 ngày trước

Coinbase CEO Calls for Clear Crypto Regulations in the US to Prevent Industry Issues

Coinbase CEO Brian Armstrong has emphasized the need for clear regulatory guidelines in the United States' digital assets industry. In an interview with CNBC, Armstrong stressed that the absence of clear regulations has led to adverse consequences, including crypto firms relocating overseas, industry instability, and a diminishing global financial role for the US. He urged the importance of rules that balance innovation and consumer protection. Armstrong also discussed the positive impact of Bitcoin exchange-traded funds (ETFs) and Coinbase's role as a custodian in ETF applications.

The Daily Hodl - 1079 ngày trước

Coinbase Launches Cryptocurrency Lending Service for U.S. Institutions

Coinbase, the prominent U.S. crypto exchange, has introduced a cryptocurrency lending service specifically tailored for large institutional investors in the United States. This move aims to fill the gap left by the recent bankruptcies of major industry players such as Celsius, Genesis, and Blockfi. Coinbase Prime customers have already invested $57 million in the lending program, which allows institutions to lend digital assets under standardized terms. Coinbase will employ borrowed funds to provide loans to other institutions. This initiative follows regulatory scrutiny and the suspension of Coinbase's retail lending service, Coinbase Borrow, earlier this year.

Bitcoin News - 1079 ngày trước

IMF-FSB Present Collaborative Report on Crypto to G20 Members, Advocating Against Total Prohibition

A joint synthesis paper by the International Monetary Fund (IMF) and the Financial Stability Board (FSB) acknowledges the potential risks posed by widespread crypto adoption but cautions against a blanket ban. The paper, submitted to G20 members ahead of their Leaders' Summit, highlights the need for a comprehensive regulatory response to address the macroeconomic and financial stability risks associated with cryptocurrencies. It also calls for adherence to Financial Action Task Force (FATF) standards to prevent misuse. Blanket bans are deemed costly and technically challenging to enforce, urging a more balanced approach.

businesstoday - 1080 ngày trước

Senator Ted Cruz Backs Bitcoin as a Tool for Freedom and Prosperity

Texas Senator Ted Cruz has expressed strong support for Bitcoin, citing its role in promoting freedom and economic benefits. Cruz highlighted how Bitcoin's decentralized nature makes it uncontrollable and resistant to government interference, contrasting it with China's ban. He also emphasized the positive externalities of Bitcoin mining, such as providing emergency power reservoirs and monetizing excess energy capacity. Bitcoin mining has also revitalized communities, created jobs, and generated tax revenues, particularly in areas with abundant and inexpensive electricity. Cruz sees Bitcoin as a catalyst for economic growth and environmental improvement, especially in regions like West Texas.

Bitcoin News - 1080 ngày trước

Asset Managers Embrace Digital Assets as Nearly Half Manage Crypto, Survey Reveals

In a recent study conducted by digital currency data provider Amberdata and Coalition Greenwich, it was found that 48% of institutional investors now have digital assets under management (AUM). Despite market volatility, 75% of managers anticipate AUM growth over the next five years, with 40% expecting robust 11-20%+ expansion. Asset managers are eyeing the growing market opportunity for digital assets, with 44% expecting it to be a growing business line in the next three to five years. Regulatory optimism in the U.S. plays a crucial role, while spending on crypto market data is set to rise.

Bitcoin News - 1080 ngày trước

Coinbase Targets Global Expansion Amid Crypto Regulation Variances

Coinbase, a leading cryptocurrency exchange, is eyeing several countries outside the U.S. for expansion due to clearer crypto regulations. In a recent blog post, the company identified the European Union, United Kingdom, Canada, Brazil, Singapore, and Australia as priority markets for acquiring licenses and strengthening operations. Coinbase expressed concerns over the U.S.'s approach, opting for enforcement through courts, potentially risking its influence in the crypto space. The company plans to engage with the G20 for global crypto standards and will focus on lobbying efforts in Brazil, the future G20 chair.

cointelegraph - 1080 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1070 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1070 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1070 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1070 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1071 ngày trước