Former Goldman Sachs executive Raoul Pal has revealed a chart that suggests Bitcoin (BTC) and cryptocurrencies are on schedule to reach 4 billion users. Adoption Rate Surpassing the Internet Pal’s prediction is based on a model comparing the adoption rate of the internet in its early stages to the user growth rate of crypto since…
15 Attorneys General Investigate Allegations A coalition of 15 state attorneys general, led by Virginia’s Jason S. Miyares, is investigating allegations that Bank of America is closing accounts based on customers’ religious and political beliefs. The coalition alleges that Bank of America has a history of “viewpoint-based debanking,” targeting individuals and businesses whose views differ…
A crypto advocacy group, Coin Center, has expressed concerns that a proposed stablecoin bill could violate free speech rights. Ban on Algorithmic Stablecoins The bipartisan bill, introduced by Senators Cynthia Lummis and Kirsten Gillibrand, would ban “algorithmic payment stablecoins” like Terra’s UST. Coin Center argues that this ban is unconstitutional because algorithmic stablecoins can be…
The US Senate has approved a bill that expands government surveillance powers, sparking concerns among crypto enthusiasts. Section 702: A Controversial Expansion Section 702 of the Foreign Intelligence Surveillance Act (FISA) allows the government to collect data from tech companies without a warrant. Critics argue that this broad authority could lead to the indiscriminate collection…
John Deaton, a lawyer known for his support of XRP, has filed an amicus brief on behalf of 4,701 Coinbase customers in the SEC’s lawsuit against the crypto exchange. What is an Amicus Brief? An amicus brief is a document filed by someone who is not directly involved in a case but wants to provide…
A cryptocurrency investor, known as a “whale,” has emerged as the largest holder of PUPS, a dog-themed meme token on the Solana blockchain. Whale’s Purchases According to blockchain analytics firm Lookonchain, the whale has accumulated over $4.29 million worth of PUPS. Their latest purchase of 8,862 PUPS, valued at $512,000, has solidified their position as…
Institutional Investors Seek ‘Non-Debt Money’ Matt Hougan, Chief Investment Officer of crypto fund manager Bitwise, has revealed that large investors are increasingly turning to Bitcoin (BTC) to mitigate risks posed by economic challenges. Concerns over Inflation and Debt Institutions are expressing concerns about persistent inflation and the US government’s rapid debt accumulation. Hougan explains that…
Glassnode founders Jan Happel and Yann Allemann believe the declining strength of the US dollar could trigger a Bitcoin rally. Dollar Index Suggests Downward Trend The US Dollar Index (DXY), which measures the dollar’s strength against other currencies, may have reached a peak. This suggests a potential downward move, which could benefit cryptocurrencies like Bitcoin….
The Bitcoin halving has happened, and crypto investors are excited about what it means for the price of Bitcoin and other cryptocurrencies. What is Bitcoin Halving? Bitcoin halving is when the reward given to miners for verifying transactions is cut in half. This happens every four years or so, and it’s designed to keep the…
The financial world is seeing a major shift in cryptocurrency investment, with big players moving into Bitcoin Exchange-Traded Funds (ETFs). Growing Institutional Interest Bitwise CEO Hunter Horsley predicts a huge increase in Bitcoin ETF holdings by wealth management firms by the end of 2024. This shows that institutions are becoming more confident in Bitcoin as…
