Day: December 18, 2024

Ohio lawmaker pushes for state-backed Bitcoin reserve

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Key Takeaways Ohio is considering a Bitcoin reserve to hedge against the dollar’s devaluation. Similar state-level initiatives for Bitcoin reserves are underway in Texas and Pennsylvania. Share this article Ohio State Representative Derek Merrin has introduced legislation to create a state-backed Bitcoin reserve. The proposal involves investing surplus funds in Bitcoin as a hedge against dollar devaluation. 🚨Today, I filed HB 703 to create the Ohio Bitcoin Reserve within the state treasury! Provides state treasurer authority & flexibility to invest in #Bitcoin This legislation creates the framework for Ohio’s state…

Trump-backed World Liberty Financial adopts sUSDe stablecoin in DeFi expansion

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Key Takeaways World Liberty Financial is integrating the sUSDe stablecoin into its DeFi ecosystem with Ethena. WLFI’s portfolio expansion includes $500,000 investment in Ethena and $250,000 in Ondo. Share this article Donald Trump-backed crypto project World Liberty Financial (WLFI) is partnering with Ethena to integrate the sUSDe stablecoin as a core collateral asset in WLFI’s upcoming Aave v3 instance. The proposal under review would enable sUSDe deposits with dual rewards in sUSDe and WLFI’s native WLF tokens. These rewards aim to attract users to the platform while enhancing liquidity. In…

What is the Bitcoin Puell Multiple Indicator and How Does It Work?

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In the world of Bitcoin investing, understanding market cycles is key to identifying buying opportunities and spotting potential price peaks. One indicator that has stood the test of time in this regard is the Puell Multiple. Originally created by David Puell, this metric examines Bitcoin’s valuation through the lens of miner revenue, offering insights into whether Bitcoin might be undervalued or overvalued compared to its historical norms. This article will explain what the Puell Multiple is, how to interpret it, and what the current reading on the chart suggests for…

BlackRock’s New Bitcoin Ad Is A Monumental Paradigm Shift

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Follow Nikolaus On 𝕏 Here For Daily Posts Yesterday, BlackRock released a new video aimed at educating people interested in Bitcoin on the asset class. The video is quite good, honestly. I think they took inspiration from Saifedean Ammous’ book “The Bitcoin Standard,” which discusses the history of money from the beginning of time and how it has changed and evolved throughout history. Launched in January, IBIT has now topped $50 Billion in assets as investors are increasingly using the ETP to get efficient exposure to bitcoin’s price. Yet many…

Nic Carter Is Wrong About the US Strategic Bitcoin Reserve

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When I saw Nic Carter’s recent Bloomberg interview, I couldn’t help but shake my head. Nic, who’s been a long-time Bitcoiner and someone I respect, said that the US shouldn’t—and won’t—buy Bitcoin for its strategic reserves because it would supposedly signal weakness in the dollar on the global stage. I get his argument, but I completely disagree. In fact, I think it’s the exact opposite. In my view, adding Bitcoin to the US reserves would be a massive show of strength. It would send a message to the world that…

German banking giant develops Ethereum L2 using ZKsync

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Key Takeaways Deutsche Bank is developing a layer 2 blockchain solution on Ethereum powered by ZKsync technology. The project’s aim is to address regulatory challenges for financial institutions using public blockchains and provide more efficient transactions. Share this article Germany’s largest bank Deutsche Bank is developing an Ethereum layer 2 network using ZKsync technology to enhance transaction efficiency and meet regulatory standards in finance, according to a new report from Bloomberg. The initiative, part of Project Dama 2 and linked to Singapore’s Project Guardian, is aimed at resolving key issues…