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Musk says he found ‘magic money computers’ printing money ‘out of thin air’
In a recent conversation on Senator Ted Cruz’s podcast, Elon Musk made a striking claim about the federal government’s financial mechanisms, referring to the existence of at least 14 “magic money computers” embedded within various federal departments. According to Musk, these computers, found in the Department of Treasury, Defense, and Health and Human Services, possess…
Continue ReadingBitcoin’s recent $12B open interest wipeout was essential, says analyst
Bitcoin is experiencing a significant shift, marked by a nearly $12 billion drop in open interest earlier this month. This sharp decline in Bitcoin’s open interest (OI), which measures the total number of unsettled derivative contracts like options and futures, may serve as a critical turning point for the cryptocurrency, indicating a potential rebound. According…
Continue ReadingSolana Protected Gender Identity Before Panning It in Anti-Queer Ad
The Solana Foundation faced significant backlash late Monday after it withdrew an advertisement that many deemed anti-queer, only nine hours after launching it. The contentious ad featured a personification of “America” undergoing therapy, struggling to focus on grand ideas related to technology, cryptocurrency, and space exploration. Instead, the therapist insists that “America” concentrate on “pronouns”…
Continue ReadingPaul Atkins closes in on SEC chair role amid setbacks: Report
Paul Atkins is reportedly moving closer to assuming the role of chair of the U.S. Securities and Exchange Commission (SEC), a position keenly eyed by the cryptocurrency community. His nomination by President Donald Trump on December 4, 2024, has faced delays primarily due to complications surrounding financial disclosures linked to his marriage into a billionaire…
Continue ReadingNo Strategic Bitcoin Reserve in South Korea: Report
The Bank of Korea has definitively stated its position regarding the inclusion of Bitcoin (BTC) in the nation’s foreign exchange reserves, expressing a clear reluctance to adopt a strategic bitcoin reserve policy. This stance was articulated in a recent inquiry response from the central bank to Representative Cha Gyu-Geun, a member of the Democratic Party…
Continue ReadingBTC Price Stalls at $84K Ahead of FOMC Meeting, Analyst Warns of Another Leg Lower
Bitcoin (BTC) surged past the $84,000 mark on Monday, contributing to an overall increase in the cryptocurrency market, which saw a rise of 1.8%. The CoinDesk 20 Index, a broad market indicator, performed even better, gaining 2.4% during the same period. Ethereum’s ether (ETH) stabilized above $1,900, marking a 2.8% gain, while notable altcoins such…
Continue ReadingBitcoin sees 30% retracement as selling pressure increases — Bitfinex
Bitcoin’s latest bout of volatility marks a significant turning point in the cryptocurrency landscape, as recent analyses from crypto exchange Bitfinex indicate the asset has faced its second-largest correction during the ongoing bull run. The digital currency saw a notable decline from its historic peak of $109,590, set on January 20, down to $77,041 in…
Continue ReadingWhales Amass $32.9M Profit in 21 Days
Whales have recently taken center stage in the decentralized finance (DeFi) ecosystem, showcasing remarkable investment activity in major tokens such as Uniswap (UNI), Maker (MKR), and Bounce (AUCTION) from Binance. In a mere span of three weeks, these influential traders have accrued an impressive unrealized profit of $32.9 million, translating to an astounding 87% gain…
Continue ReadingTokenization Specialists Securitize and Ethena Unveil Institutional DeFi Blockchain
Securitize and Ethena Labs have made a significant stride in the fusion of traditional finance and decentralized finance (DeFi) with the launch of their Ethereum-compatible blockchain, Converge. This innovative platform is poised to serve as a dedicated home for tokenized assets, catering specifically to institutional investors seeking to leverage the benefits of DeFi. At the…
Continue ReadingPrice analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
Bitcoin (BTC) remains resilient, maintaining an upward trend above $80,000 since March 11. This indicates a strong bullish sentiment among investors, who appear unperturbed by the prospect of a market correction. However, the inability to push beyond $86,000 suggests persistent selling pressure from bears, who continue to capitalize on price rallies. Recent data from CoinShares…
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