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Author: Afroz Ahmad
Bitcoin (BTC) has outperformed Tesla stock for the first time since 2019 in percentage terms over the past five years. According to TradingView, Bitcoin’s price has escalated by an astonishing 1,180%, while Tesla’s stock has risen by 806% in these five years. Quick Take: Bitcoin (BTC) has outperformed Tesla stock in long-term gains for the first time in nearly five years. Over the last year, Bitcoin has soared by 139% while Tesla’s stock has dipped by 11%. The launch of ten U.S. spot Bitcoin ETFs has propelled BTC into a premier asset class which is impacting its price surge. Despite…
Searches for “Bitcoin Halving” on Google have reached extremely high levels. It indicates heightened public interest ahead of the upcoming event. According to Google Trends, the term has already hit a score of 45 and is projected to reach a perfect 100 by month’s end. Quick Take: Google Trends shows record interest in “Bitcoin halving,” with searches expected to double compared to 2020. This halving round will cut the Bitcoin rewards for miners from 6.25 BTC to 3.125 BTC. The event has historically led to significant price increases for Bitcoin. The highest search interest comes from Nigeria, the Netherlands, Switzerland,…
Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, has been sentenced to 25 years in prison. The verdict was delivered by Judge Lewis Kaplan in the Southern District of New York. Quick Take: Sam Bankman-Fried, the former CEO of FTX, has been sentenced to 25 years in prison by Judge Lewis Kaplan. The sentencing follows convictions on seven felony charges, including witness tampering and perjury. Judge Kaplan condemns SBF’s courtroom demeanor and dismisses defense claims of no financial loss to FTX customers. While some associated with FTX and Alameda have pleaded guilty, others await their fate. According…
Tether Operations Limited has unveiled a comprehensive plan to expand its AI division. At the heart of this initiative is a call to break free from the monopolistic grip of Big Tech over AI technologies. Quick Take: Tether expands its AI operations with a focus on openness and privacy. The expansion includes a global recruitment drive for top-tier AI talent and investment in Northern Data Group. Tether’s three-pronged approach aims to pioneer open-source AI, build collaborations for real-world solutions, and engage with the AI community. The initiative underscores Tether’s ambition to democratize AI technology. The stablecoin issuer aims to work…
The total value locked (TVL) in Coinbase‘s Base network has doubled within just 25 days. It has escalated from $1 billion to a remarkable $2.13 billion. This rapid growth has caught the attention of the crypto community and has also sparked a conversation about the potential influence of meme coins on the network’s future. Quick Take: Base’s TVL surged to $2.13 billion in less than a month. Crypto analysts believe that meme coins could spearhead a new wave of adoption on the Base network. USD Coin and Ether lead in value on the Base network but meme coins are gaining…
The CryptoPunks collection has once again captured headlines in the non-fungible token (NFT) marketplace. In March, the collection witnessed a staggering $16 million sale of CryptoPunk #7804. This sale shows the significant investment potential of digital assets and also marks a historic moment for the NFT collection. Quick Take: CryptoPunk #7804’s sale for 4,850 ETH highlights the growing interest in rare digital collectibles. The recent transaction sets a new record for the second-highest sale in the CryptoPunks collection. Seller Peruggia describes the emotional and financial significance of high-stake NFT transactions. CryptoPunks’ soaring sales volume has surpassed $21.5 million over the…
BlackRock has announced the launch of its new tokenized asset fund ‘BUIDL’ on the Ethereum network. This move marks BlackRock’s entrance into tokenized funds on a public blockchain and also signals a significant leap toward modernizing access to investment opportunities. Quick Take: BlackRock’s ‘BUIDL’ tokenized asset fund shows a new path in the digital assets domain. The fund sets a new precedent for investors in the tokenized asset space, with an initial buy-in of $5 million. Strategic partnerships with Bank of New York Mellon and Securitize Markets, LLC are instrumental in merging digital and traditional investments. BlackRock’s venture could significantly…
Genesis Global Capital has reached a settlement with the United States Securities and Exchange Commission (SEC). The crypto firm has agreed to a $21 million fine over charges related to its Gemini Earn lending program. Quick Take Genesis will pay a civil penalty to resolve the SEC’s charges on the Gemini Earn program. SEC Chair Gary Gensler emphasizes the importance of crypto platforms adhering to securities laws for investor protection and market trust. The legal and financial repercussions for Genesis and Gemini underline the challenges faced by crypto lending services. The settlement may set a precedent for the regulatory compliance…
The cryptocurrency world is full of predictions and analyses as we inch closer to the next Bitcoin halving event scheduled for April. In a recent online event, Bitfinex CTO and Tether CEO Paolo Ardoino highlighted the complications of forecasting Bitcoin’s future pricing at this time. Quick Take: Paolo Ardoino points out the difficulty in predicting Bitcoin’s price as the next halving approaches. The upcoming halving in April is expected to reduce mining rewards from 6.25 to 3.125 Bitcoin per block. The rise of spot Bitcoin ETFs is playing a crucial role in influencing Bitcoin’s market dynamics. The event was a…
Cryptography company Zama has achieved a milestone by raising $73 million in its Series A funding round. This round was led by industry giants Multicoin Capital and Protocol Labs, with significant contributions from the co-founder of the Solana blockchain, Anatoly Yakovenko, and Metaplanet. Quick Take: Zama has raised $73 million in one of the largest Series A funding rounds. The company specializes in fully homomorphic encryption and offers unparalleled data privacy. Zama aims to enhance its technology to support large-scale applications. It’s fhEVM protocol is gaining traction in the crypto and blockchain space. The influx of capital is a vote…