come every saturday Hodler’s Digest helps you keep track of all the important news stories that happened this week. He summarizes his week on Cointelegraph, including the best (and worst) estimates, adoption and regulation highlights, major coins, and predictions in one link.
Top news of the week
Elon Musk’s acquisition of Twitter was finalized this week, after which he reportedly fired three top-level executives: CEO Parag Agrawal, head of legal and policy Vijaya Gadde, and chief financial officer Ned Segal. It is Musk has reportedly claimed that three people were unfaithful about spamming his account on Twitter. On a more positive note, Musk said Twitter has big plans, including ensuring free speech on the platform. Twitter also ordered other headlines this week: Binance invests $500 million platform, and the New York Stock Exchange Delisting of Private Company.
According to Binance CEO Changpeng Zhao, Binance’s BNB chain will host Kazakhstan’s Central Bank Digital Currency (CBDC). CBDC has gained a lot of attention in recent years as regions around the world have taken various steps towards a new form of money. A product of the National Bank of Kazakhstan, Digital Tenge operates on the BNB chain. Binance has tightened regulations in Kazakhstan, a country that has shown interest in cryptocurrencies.
According to preprints produced by researchers from multiple universities, much of the information out there about blockchain carbon emissions lacks validity on several levels. In short, the preprint states that many studies on blockchain energy consumption use incomplete data, electricity costs are not clear, they make assumptions based on outdated data, etc. I’m here. Blockchain and its energy requirements are the subject of much debate.
According to the country’s latest federal budget, Australia will not create Bitcoin legal tender. Documents detailing the budget showed that despite El Salvador’s move to make BTC legal tender, bitcoin will be taxed in the same category as other crypto assets, rather than as a foreign currency. classified Bitcoin as legal tender. The Central African Republic also classifies Bitcoin as a currency. Since 2014, Australian tax authorities have classified cryptocurrencies in general as a type of investment rather than a currency, according to Danny Talwar, the head of tax at Coinley.
Equifax is working with blockchain company Oasis Labs on a decentralized identity product that could improve Know Your Customer practices. Hosted on Oasis’ platform and using Equifax’s application programming interface (API) keys, the solution essentially allows individuals to verify their identities without exposing sensitive information, which is then transferred to an organization’s blockchain. Keep a trail on. However, technical details of the solution were not disclosed. Equifax’s reputation was overshadowed by a major global data breach in 2017.
winner and loser
Among the 100 biggest cryptocurrencies, this week’s top 3 altcoin risers are Klaytn (clay) 77.92%, Dogecoin (Doge) 46.52% and TerraClassicUSD (USTC) at 18.72%.
This Week’s Top 3 Altcoin Losers Are Chains (XCN) -23.33% for manufacturers (MKRMore) -13.67% and Casper (CSPR) -9.28%.
For more information on crypto prices, be sure to read Cointelegraph Market Analysis.
most memorable quotes
“Blockchain is not just a technological change, it is also an enabler of socio-political change.
Yass SiuCo-Founder and Chairman of Animoca Brands
“The UK government has a policy vision for the UK to become an international hub for cryptocurrencies and digital assets.
Lisa CameronMember of Parliament
“Traditional assets are driven by economic growth, Fed policy and inflation. Crypto is driven by technology itself, millennial adoption.
“I believe the IMF is a merciless enemy to cryptocurrencies.
David TawilCo-Founder and President of ProChain Capital
“when [China] I love cryptocurrencies and the bull market will be back. It will be a slow process, but red buds are emerging.
Arthur HayesFormer CEO of BitMEX
“Knowledge brings empowerment and confidence.
Flori MarquezCo-Founder and Chief Operating Officer of BlockFi
Forecast for the week
At the beginning of the week, Bitcoin traded flat between $19,000 and $20,000 with relatively little price volatility.The asset headed toward $21,000 on Oct. 25, according to Cointelegraph’s BTC Price Index. It started to move higher and found resistance at the Oct. 26th level before heading back towards $20,000 on Oct. 27th.
On October 25, Eight CEO Michael van de Poppe predicted that BTC could rise by up to $30,000 in the short term. “In 2-3 weeks #Bitcoin will have a big break,” he tweeted, adding, “My view is upside. My guess is he is probably $30,000.”
FUD of the week
Christy Goldsmith Romero, head of the Commodity Futures Trading Commission, recently asked the U.S. government for additional powers to keep cryptocurrency issues from impacting mainstream finance. Romero drew parallels between the 2008 financial crisis and the current mood, citing his Terra’s downfall as a risk of contagion to mainstream markets. She pointed out that the crypto sector could have a negative impact on mainstream finance due to increasing crossover activity between the two worlds.
After an investigation, cryptocurrency exchange FTX and digital asset trading bot service 3Commas determined the cause of suspicious DMG cryptocurrency trading on FTX. The hacker phished the victim from his FTX API key via his fake website similar to 3Commas, resulting in fraudulent trading of his DMG asset pairs on FTX. Other methods, including malware, may also have problems.
Former Bithumb chairman Lee Jung-hoon faces fraud charges in South Korea for allegedly defrauding Bithumb’s future buyer, Kim Byung-gun, out of $70 million. Jong-hoon is said to have received $70 million from Byung-gon as a down payment for his purchase of the Bitsum Exchange. However, the deal was contingent on Bithumb listing the cryptocurrency BXA, which is said to have never happened. There is a possibility that it will be
“At the early Bitcoin meetups I attended, there were a lot of cypherpunks.”
“I use whatever seems easiest—whatever works. And when it doesn’t work, I’m going to throw it away.”
Ethereum’s move to PoS was celebrated as a significant upgrade. However, one month after the move, he has growing concerns about centralization.
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