Category: crypto

Ripple CEO Brad Garlinghouse has endorsed pro-crypto lawyer John Deaton’s campaign against Senator Elizabeth Warren, praising Deaton’s advocacy for XRP and critiquing Warren’s misinformation on crypto. Garlinghouse encourages donations and votes for Deaton, highlighting the growing support for him in the crypto community amidst Warren’s anti-crypto stance.

Bitcoin advocates have countered a European Central Bank paper that criticized its value and economic role. Researchers argue the ECB overlooks Bitcoin’s technological benefits and societal contributions, misrepresents its purpose, and misunderstands its distribution among holders. They highlight Bitcoin’s innovation, resilience, and intrinsic value as a hedge against inflation, calling for objective analysis.

Ethereum co-founder Vitalik Buterin announced plans for “The Verge,” an upgrade aimed at improving the blockchain’s Proof-of-Stake system. It introduces “stateless client verification,” reducing storage needs and allowing verification from smaller devices like smartwatches. This shift enhances accessibility and efficiency, potentially expanding Ethereum’s user base significantly.

The Nigerian government has dropped all charges against Binance executive Tigran Gambaryan, who was detained since February. The EFCC announced the case dismissal in Abuja, clarifying Gambaryan was not responsible for the actions he was accused of. His prolonged detention faced criticism over health issues and U.S. government concerns.

Tesla has not sold its remaining Bitcoin, despite recent wallet transfers that prompted speculation. According to Arkham Intelligence, these were wallet rotations, not sales. Tesla’s Bitcoin is now spread across seven wallets, each containing significant value. Analysts await Tesla’s Q3 earnings report for more clarity on the situation.

Billionaire Paul Tudor Jones II is heavily investing in gold and Bitcoin, anticipating ongoing inflation regardless of the 2024 US presidential election outcome. He believes commodities are under-owned and praises Bitcoin’s pandemic performance. Jones advises against fixed-income investments, predicting rising interest rates due to increasing national debt and deficits.

Canadian cryptographer Peter Todd has gone into hiding after an HBO documentary, “Money Electric: The Bitcoin Mystery,” claimed he is Bitcoin’s creator, Satoshi Nakamoto. Todd, who stated his involvement was taken out of context, insists he was joking and emphasizes the dangers of revealing Nakamoto’s identity.

Bitcoin miner Core Scientific projects $8.7 billion in revenue over the next 12 years due to a hosting agreement expansion with CoreWeave. The contract adds $2 billion to previous projections and necessitates a $180 million infrastructure upgrade, funded by CoreWeave. Operations will start in late 2026, enhancing Core Scientific’s data center capacity.

SEC Chair Gary Gensler defended the agency’s enforcement-driven approach to crypto regulation during an interview, emphasizing the need for established laws to protect investors. He argued that transparency and disclosure are essential for market trust, stating the SEC will continue its efforts regardless of industry impact, especially given recent investor losses.

The Bank for International Settlements warns that as financial institutions pursue tokenization of real-world assets, significant governance, legal, and regulatory risks must be addressed. While tokenization promises cost reduction and efficiency, uncertainty remains regarding its legal treatment and central banks’ roles, necessitating careful regulatory oversight and collaboration.