An overview 

The XRP market is positioned for a price surge that is set to occur between August and October. Analysts consider the reason for this to be a breakout on the charts, as well as whale activity and the legal battles between regulators and crypto exchanges coming to an end. This shows that the ecosystem has started evolving and is ready to enter a phase of consolidation after the uncertainty that has dominated the marketplace over the past couple of years. As part of this growth, there’s a possibility that the XRP/USD pair will be able to record values that are near or even potentially above $1. This level hasn’t been achieved since 2021, so returning to it seems quite difficult for investors. However, with the right price movements, it is definitely not impossible. 

The breakout 

Consulting price charts is one of the most important things for cryptocurrency investors since they provide a more complete and comprehensive view of the ways in which values are bound to change. Savvy investors know how to read and estimate the movements more accurately, so if you’re new to this trading sector, it is best to heed their advice until you develop your skill set. XRP’s weekly chart currently shows that a symmetrical triangle has been in the making ever since 2018. Its main characteristic is the appearance of converging trend lines that are capable of compressing price action. 

Right now, the coin is testing the upper trendline resistance of this pattern, going for a successful breakout in order to go toward the following resistance level. Ideally, these movements could be completed in the upcoming months. But in order for this to become a reality, XRP needs to go above the $0.86 threshold. That is nearly 50% higher than its current prices, a difficult but not insurmountable barrier to deal with. A similar scenario occurred between January and March 2022 and then again in July 2024. 

Bullish run 

In spite of these apparent setbacks, most investors remain convinced that a bullish run is just around the corner. Technical indicators have so far supported this prediction, meaning that a price spike is not just the result of investors daydreaming about growth but rather an objective truth that can be verified by metrics and analysis. The RSI comes into play once more, showing a rebound after being stuck around the 50 level for a while. This clearly indicates that buying momentum is forming at the moment. Rising trading activity is also visible from the volume profile, with these movements typically being precursors to sustained price movements.

While the next bullish run might not yet be obvious to see, investors should nonetheless be ready for it. Coming up with a comprehensive strategy that keeps your portfolio stable and guarantees gains should be your top priority, but it’s impossible to achieve this goal unless you do your research and keep an eye out for market movements. 

Accumulation 

In the Bitcoin world, the accumulation stage refers to the moment when the prices reach the local bottom level, and so investors start buying in larger quantities. This occurs because the most basic rule of trading crypto is that you need to buy low and sell high. The same thing is happening right now, with data showing that many BTC users have accumulated large numbers of tokens over the last few weeks. What makes the current scenario even more interesting than others is that it is mostly whale investors who have been growing their lists of holdings. 

Members of the richest cohort, the investors holding more than a billion native tokens, have grown by almost 2% in 2024. This number is the direct correspondent of the drop recorded in the cohort that holds between 100 million and 1 billion as part of their XRP balance. The whales holding between one and ten million XRP have also been buying more tokens than before in order to consolidate their portfolios. This data is typically regarded as a bullish signal, as large investors generally grow their holdings in anticipation of higher price levels in the future. 

At the same time, they are also leveraging market influence in order to facilitate the development and continuation of these trends. 

Regulations 

2023 was a difficult year for cryptocurrencies as a result of the challenging regulatory landscape. US lawmakers wanted to find a way to ensure that the crypto space will be easier to navigate as a whole and that the risk of losing tremendous amounts of capital as a result of mismanagement is averted. However, it is easier said than done since the crypto space is entirely new for the financial landscape. That makes it more difficult to deal with, as it’s unclear what is the best place to start. The uncertainty created by this situation has impacted the market at a fundamental level, causing prices to plummet or stagnate. 

Yet, it seems now that this challenging situation could be coming to an end as a result of a potential settlement. XRP was not designated as a security when sold on exchanges but is considered one when it is sold to institutional investors who meet the conditions of the Howey test. This is a US legal framework outlined by the Supreme Court to determine if a transaction qualifies as an investment contract or if it should be subjected to regulations instead. Four criteria are taken into consideration, including the expectations of profit and reliance on efforts from others. 

If regulatory issues reach a favorable settlement once and for all, this will bring more clarity to the XRP environment and boost the price as well. 

To sum up, the outlook for the XRP marketplace looks optimistic, but it’s essential that the community remains attentive. Don’t make any impulsive decisions, or you could find yourself in a situation where the losses far surpass the gains. 

Sacks has a long and storied history in the tech industry, being counted as one of the “PayPal Mafia.” The group includes a number of prominent executives who worked at PayPal during its early days, and later went on to found companies of their own in the tech industry. Elon Musk, Peter Thiel, Reid Hoffman, and Steve Chen are just a few members of the group.

In a post on his Truth Social, Trump said Sacks will help the US take the lead in both AI and crypto, while providing some much-needed legal clarity for the crypto industry, something that has been sorely lacking over the past couple of years.

I am pleased to announce that David O. Sacks will be the “White House A.I. & Crypto Czar.” In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness. David will focus on making America the clear global leader in both areas. He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship. He will work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S. David will also lead the Presidential Council of Advisors for Science and Technology…

Donald J. Trump (@realDonaldTrump) | December 5, 2024

Crypto companies have complained repeatedly about the lack of clear guidelines for the industry, something that has allowed current SEC chairman Gary Gensler wage a crusade against companies and platforms alike. If Sacks delivers on Trump’s promise, it could usher in a whole new era for the crypto industry, and provide some stability.

Under Gensler, the SEC has waged a crusade against the crypto industry, launching multiple legal actions. Gensler has made no secret of his disdain for cryptocurrencies, even going so far as to say that “we don’t need more digital currency.”

In contrast, Atkins’ background as co-chair of a crypto advocacy group bodes well for the crypto industry. In an announcement on Truth Social, Trump made clear his belief that digital assets are an important part of this agenda of “Making America Greater than Ever Before.

I am delighted to announce the nomination of Paul Atkins to be the next Chairman of the Securities & Exchange Commission.

Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World. He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.

Paul is the CEO & Founder of Patomak Global Partners, a risk management consultancy. As Co-Chairman of the Digital Chamber’s Token Alliance since 2017, he has worked on & studied the digital assets industry. A former SEC Commissioner from 2002-2008, Paul strongly advocated for transparency & protecting investors. He earned a J.D. from Vanderbilt University School of Law, & his A.B. from Wofford College, summa cum laude, Phi Beta Kappa.

Congratulations to Paul, his wonderful wife, Sarah, & sons, Stewart, Peter, & Henry.

Donald J. Trump (@realDonaldTrump) | December 4, 2024

If Atkins’ nomination is approved, crypto fans and investors may be in for a major change of fortunes.

Background: The Treasury’s Sanctions

In August 2022, the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, alleging it had laundered over $7 billion in virtual currencies for malicious actors. The sanctions prohibited U.S. persons from engaging with Tornado Cash and added its associated smart contracts to the Specially Designated Nationals (SDN) list. This action effectively banned any interaction with the platform’s open-source code.

The Legal Challenge

Following the sanctions, six users of Tornado Cash, supported by cryptocurrency exchange Coinbase, filed a lawsuit challenging OFAC’s authority to sanction open-source software. They argued that the immutable smart contracts of Tornado Cash could not be considered “property” subject to sanctions under the International Emergency Economic Powers Act (IEEPA).

The Court’s Ruling

On November 26, 2024, a three-judge panel of the Fifth Circuit Court sided with the plaintiffs. The court held that Tornado Cash’s immutable smart contracts are not “property” of any foreign national or entity and, therefore, cannot be blocked under IEEPA. The judges concluded that “OFAC overstepped its congressionally defined authority.”

Implications for Open-Source Software

This decision has profound implications for the open-source community. By ruling that immutable smart contracts are not subject to sanctions, the court has reinforced the principle that open-source code, which operates autonomously without human intervention, cannot be owned or controlled. This distinction is crucial for developers and users who rely on decentralized platforms to ensure privacy and security.

Industry Reactions

The ruling has been hailed as a significant victory for digital privacy and innovation. Paul Grewal, Chief Legal Officer of Coinbase, described the decision as “a historic win for crypto and all who care about defending liberty.” He emphasized that blocking open-source technology entirely because a small portion of users are bad actors is not what Congress authorized.

Future Considerations

While the court’s decision limits OFAC’s authority to sanction open-source software, it does not address the broader issue of illicit use of such platforms. The ruling suggests that it is the role of Congress to update existing laws to address the challenges posed by emerging technologies. As the judges noted, “Mending a statute’s blind spots or smoothing its disruptive effects falls outside our lane.”

Conclusion

The Fifth Circuit’s reversal of sanctions against Tornado Cash underscores the importance of distinguishing between malicious actors and the tools they misuse. By protecting the autonomy of open-source software, the court has affirmed the rights of developers and users to innovate without undue governmental interference. This decision sets a precedent that could influence future regulatory approaches to decentralized technologies.

As the digital landscape continues to evolve, this ruling serves as a reminder of the delicate balance between national security interests and the preservation of individual freedoms in the digital age.

The terms bulls are charging, and bears are prowling are widely used in the stock market, but since cryptocurrencies have started gaining ground in financial markets, they have also been used in association with digital assets. Cryptocurrencies also rally at times, and naturally, investors have adopted the terms to describe the periods when they suffer price fluctuations. 

And as everyone talks about how the bull market is at its beginning, and people have started looking for ways to buy Bitcoin, it’s worth discussing the actions investors should take.

Now, let’s figure out what a bull run is

Let’s talk about hull runs in general, it’s irrelevant if cryptocurrencies or stocks are the subject of discussion because these periods function the same. Bull markets are characterized by times when the assets are sold at high prices. For cryptocurrencies, bull markets usually last three to four years, and everyone can identify the uptrend in value. Bear markets, on the other hand, signify times when the assets’ prices fall. 

Let’s analyze the previous bull and bear markets. We can easily notice that Bitcoin is the harbinger of these periods because its price is the first to suffer major changes, and it impacts the values of all the other digital assets. Therefore, as the BTC prices have been surging since the start of the year, crypto experts can only predict that the market will soon boom in terms of value. 

Bitcoin never rallies alone, even if it has a larger market capitalization than altcoins. Ethereum, the second digital crypto by market cap, follows its direction, and all the other alternative currencies join the trend. At the moment, the entire crypto world is experiencing positive growth, which makes investors feel greedy. However, seasoned traders are cautious and wait to see if the market will remain in the bull sprint or slump. 

Why do finance experts use the term bull?

The term bull is ideal for describing this period in the crypto industry because of the way bulls attack—if you have never seen one, it thrusts its horns upward, resembling the same movement of prices during this time. Investors tend to be more optimistic during bull markets because the period usually provides them with more profit prospects, which will cause increasing activity in the sector. In these conditions, the assets’ prices go up. 

Should you buy Bitcoin during this time?

Bitcoin hit an all-time high (near 81.000) in November 2024, after its fourth halving, which shows that the inflation will most likely trigger an increased volatility for cryptocurrencies, which could turn lucrative for some investors, according to their end goals. Here are the main reasons why buying Bitcoin at this time might be a good idea. 

Bitcoin’s price spiked after the previous halvings

As mentioned earlier, Bitcoin went through the fourth halving event, so we can have a look at how the market reacted to the previous ones to try to predict what will happen next. Halvings are meant to reduce the rate at which Bitcoin is created, and considering that the supply gets lower with every event, the demand increases, and therefore, Bitcoin’s price spikes. However, Bitcoin sees the effect after a couple of months, but the market needs a couple of months to adapt to the new conditions. The value is expected to wobble for 3 to 6 months and then surge 12 to 18 months after the halving. However, it’s challenging to predict the exact time when Bitcoin will head on an upward trajectory, but the general consensus is that it will definitely do so in around one year after the halving. 

Institutional investors are interested in Bitcoin

The introduction of spot Bitcoin ETFs at the beginning of the year was good news for Bitcoin because they enable institutional investors to access the cryptocurrency more straightforwardly. The event is expected to attract a huge capital influx into the crypto sector because more investors will be willing to add Bitcoin to their portfolios due to its reliability. Besides the institutional investors, ordinary traders can also access Bitcoin ETFs like Fidelity Wise Origin Bitcoin Fund and iShares Bitcoin Trust and add them to retirement saving accounts. 

As expected, the increased interest of institutional investors drives a spike in prices because the demand for Bitcoin is higher than before. 

Bitcoin is a scarce asset

When Satoshi Nakamoto, the anonymous creator of Bitcoin, introduced it for the first time to the public, announced that there would be only 21 million Bitcoins. Therefore, Bitcoin is one of the few cryptocurrencies with a limited supply which serves as one of the factors that impact its price. Crypto experts have concluded that the supply of new coins is increasing at a slower rate than the mining of gold, with each new halving, so it’s a scarcer asset. The demand for digital gold has increased over the last few years, while the supply remained the same, so this could only turn beneficial for the asset in the long run. Bitcoin is a store of value and one of the most valuable available, so it’s worthy of being part of any investment portfolio. 

Is this the ideal moment to buy Bitcoin?

It’s not ideal considering its high price, but because you missed the opportunity to purchase it in the bear market, now is also a good time to do it before its post-halving price goes up. What you should keep in mind is that each halving event will only build its value up, and its scarcity will remain the same. If you don’t have Bitcoin in your portfolio, consider adding some, and you’ll most likely get a return on investment in the long run. 

However, a new player has entered the world of grassroots fundraising: Bitcoin. Being decentralized and borderless, Bitcoin is changing the rules for the way startups and grassroots initiatives are raising funds, and providing them with the advantages over traditional methods of fundraising.

In this article, we’ll look into how Bitcoin is reinventing the crowdfunding scene, and why more startups and grassroots movements are choosing to raise funds using Bitcoin.

Why Bitcoin Appeals for Crowdfunding?

One important feature that other crowdfunding platforms do not have is that Bitcoin transactions are irreversible and fully decentralized. Being a decentralized digital currency, Bitcoin does not require any central bank or intermediary. It enables folks and organizations to lift cash immediately from backers without the charges and limits that usually include standard crowdfunding platforms. Here are a few key reasons why Bitcoin is gaining popularity in the world of crowdfunding:

1. Global Accessibility

Bitcoin crowdfunding offers one of its biggest advantages: global reach. Unlike other investment types, bitcoin uses a decentralized network, and therefore it does not matter where in the world you are, or which local banking system you use, anyone can contribute to a crowdfunding campaign. Traditional crowdfunding platforms are often gated in terms of countries in which they can offer exposure due to regulatory hurdles or financial limitations, restricting the potential makers and backers. Bitcoin eliminates these barriers, allowing projects to connect with a truly global audience of would be supporters.

For example, a startup in a developing country may not be able to access the international crowdfunding platform because of banking restrictions or high transaction fees. With Bitcoin, that startup can receive contributions from anyone with access to the internet, thus expanding participation and, with it, inclusivity.

2. Lower Fees and Faster Transaction Times

The processing fees charged on traditional crowdfunding platforms range from 3 to 8 percent of the raised total amount. And banks or payment processors also take a slice of the cash from backers using credit cards or other payment methods. Especially for smaller projects that live off tight budgets, these fees can quickly add up.

On the other hand, with Bitcoin transactions usually having lower fees than what’s involved in regular financial services, it’s particularly useful for transferring large amounts of money across borders. Besides costs, Bitcoin transactions are faster and can settle in as little as minutes, while it may take days for a bank transfer to be processed.

Along with faster transactions, lower fees make Bitcoin a desirable solution for those wanting to push the maximum amount of money they can come up with into their projects.

3. Financial Independence

Bitcoin is one of the most revolutionary things in the world in terms of it being so decentralized that you are able to have financial independence in a way you’ve never had anywhere else. Bitcoin allows crowdfunding campaigns to operate outside the traditional financial system and free of the rules that currently govern governments, banks, and crowdfunding platforms.

It is especially important for this censorship resistance for grassroots movement or projects that can be opposed by political or financial institutions. For example, activists, journalists and nonprofit organizations based in authoritarian countries can fund raise using Bitcoin without having their accounts frozen or blocked.

A good example of this was the 2019 to 2020 Hong Kong protests when activists resorted to using Bitcoin to finance their activities after most of their traditional fundraising channels were shut down. Or, they could continue their efforts without the interference of authorities or financial institutions, thanks to Bitcoin.

Leveraging Bitcoin for Crowdfunding by Startups

Not only is Bitcoin changing grassroots movements, but it is also changing the way young startups seek funds. Bitcoin and other cryptocurrencies are becoming a go-to way for entrepreneurs to raise capital for their ventures in innovative ways.

1. Token Sales (also known as ICOs)

The most prominent examples of how Bitcoin is being used by startups in crowdfunding is Initial Coin Offerings (ICOs) and token sales. Startups can raise capital on ICOs, by issuing digital tokens in return for Bitcoin or other cryptocurrencies. These can stand for anything, for example, access to a platform, voting rights and even equity in the startup.

In 2017 and 2018, ICOs earned a lot of popularity and startups were able to raise billions of dollars without traditional venture capital channels. The ICO boom may have cooled down since due to regulatory scrutiny, but it showed the potential for Bitcoin to revolutionize startup fundraising by allowing companies to reach global investors.

2. Crowdfunding Platforms that have Decentralized Characteristics

Along with ICOs, a number of decentralized crowdfunding platforms have come into existence, through which startups can collect funds using Bitcoin. These platforms use blockchain technology to disintermediate peer-to-peer fundraising. StartEngine and Giveth are decentralized platforms where startups can raise capital in Bitcoin, like a more transparent and more efficient way to raise capital.

Decentralized crowdfunding allows backers to donate Bitcoins directly into the startup’s wallet, so the money goes directly to the project and there’s no third-party approval or oversight needed. This gets friction out of the fundraising process and provides both startups and backers greater flexibility and control.

Challenges and Considerations

There are many advantages to using Bitcoin for crowdfunding, but not all are without their challenges. The risk for project creators and backers comes from the volatility of Bitcoin’s price. Because the price of Bitcoin can change significantly within a short period of time, funds raised in a crowdfunding campaign could drop in value as the price of Bitcoin falls.

To reduce this risk, some projects will convert your Bitcoins to stablecoins (currencies pegged to a stable asset such as the US Dollar), or even into traditional fiat currency shortly after receiving your contributions. By taking this approach, you can ensure that funds raised do not lose their value due to market volatility.

Additionally, there are things to take into account in terms of regulation. Though Bitcoin is borderless, countries have different rules surrounding cryptocurrency use and fundraising. If startups or grassroots movements wish to raise funds with Bitcoin then they need to stay informed about the legal implications to avoid potential issues.

Final Notes

Bitcoin is changing the way crowdfunding happens for startups and grassroots movements, giving them a different path to fundraising. Its worldwide access, lower fees and decentralized nature make it a cool option for people seeking financial independence and control over their fundraising efforts.

With Bitcoin spreading into the hearts of the masses, its role in the world of crowdfunding is likely to grow, offering more entrepreneurs and activists the opportunity to raise the necessary funds to transform their ideas into reality. Bitcoin is the future of grassroots fundraising for many, where financial power belongs to the people instead of institutions.

Block has been working on a number of initiatives, including a decentralized version of the internet called Web5. The company is also a the majority owner of music service Tidal. The company is so focused on Bitcoin mining that it is shutting down TBD, the division leading its Web5 efforts, and scaling back its investment in Tidal, according its third-quarter letter to shareholders.

Within our emerging initiatives, we are refining our investments based on our progress. We are scaling back our investment in TIDAL and winding down TBD. This gives us room to invest in our bitcoin mining initiative, which has strong product market fit and a healthy pipeline of demand, and Bitkey, our self-custody wallet for bitcoin.

Trump has promised to foster a crypto-friendly environment once he takes office, a stark contrast to the Biden administration. Under Chairman Gary Gensler, the SEC has virtually waged war on the crypto industry, and Gensler has made no secret of his disdain for crypto.

“I think there’s been clarity for years,” Gensler said in mid-2023. “The investing public has the benefit of US securities laws. Crypto should be no different and these platforms, these intermediaries, need to come into compliance and protect the investing public.

“These trading platforms, they call themselves exchanges, are co-mingling a number of functions which in traditional finance, we don’t see the New York Stock Exchange also operating a hedge fund, making markets and, as we alleged in Binance, having a sister organization flooding the platform with transactions called ‘wash trading.’ And the lack of controls on the platforms is really a web of deception and conflicts.”

With Trump promising a crypto-friendly environment, Block’s decision could pay major dividends.

Getting Started: Watching Price and Market Trends

As investors scan the market, Solana has been getting more attention for its fast speeds and low fees. The Solana price has gone up at times driven by tech enthusiasts and mainstream investors. But to know if it’s a good investment you need to look beyond the price.

Here are a few things to consider when looking at Solana’s price movements and similar assets:

Underlying Technology: Solana’s “proof-of-history” mechanism allows it to process transactions fast, helping it stand out in a crowded market. This has given Solana a reputation as a fast platform which is reflected in its price. But like all cryptos you need to see if these features give it a real advantage.

Market Demand: More activity on the Solana network has been driven by the growing interest in Solana. By looking at the Solana price alongside adoption rates, you can see market interest and user demand over time. Solana has attracted developers and projects in DeFi and NFTs, two areas with growth potential.

Competitive Advantage: Solana’s features compete with Ethereum but you need to see how these features impact the price. Ethereum has established itself as the go-to for smart contracts, Solana’s value is in its speed and efficiency. If demand in these areas grows, this will impact Solana’s price.

Choosing the Right Cryptocurrency

Investing in the right cryptocurrency requires a close look at each project’s strengths and potential. Here are the key factors.

1. Use Case and Real-World Application

A good use case is a major factor in a cryptocurrency’s success. Some coins are valued as a store of value (like Bitcoin), others are the backbone of decentralized applications (DApps), like Ethereum. Projects that solve real world problems or offer practical applications have higher long-term growth potential.

Look at the Project’s Goals: What problem is the project solving? Projects like Solana which offer fast, low fees are attracting developers in high demand areas like DeFi and NFTs.

Look at Adoption and Ecosystem: A strong developer and user base means healthy demand. Ethereum has an established ecosystem. Solana’s developer-friendly nature has driven growth as seen in transaction volume and sometimes price.

2. The Team

Like any tech startup, a cryptocurrency’s success depends on the team behind it. Look for transparency, experience and a good track record in blockchain or tech.

Experience and Credibility: Research the team’s background. Teams with a good track record in blockchain or related fields will deliver on their project goals.

Community Engagement: Teams that are open with their community tend to build trust with investors. An active and responsive dev team can boost a project’s momentum and ultimately its position in the market.

3. Market Position and Growth Potential

Is the cryptocurrency you’re looking at growing? Compare different projects within a specific space.

Competitive Landscape: Some projects, like Bitcoin and Ethereum, have a first-mover advantage. Others, like Solana differentiate themselves with specific features. By watching how Solana’s price reacts to market demand you can see how these competitive differences impact its value.

Scalability and Adaptability: A project’s ability to scale and adapt to market demand is a big indicator of future growth. Solana has gotten attention because of its high throughput and low fees making it a developer friendly option.

Financial: Risk and Investment Goals

Investing in cryptocurrency requires you to know your financial goals and risk tolerance. Here are some practicals:

Short-term vs Long-term Investment

Some investors are looking for quick returns through short-term trading, others long-term.

Short-term Investing: For short-term traders, following Solana’s price can be a strategy, as its movements present buy and sell opportunities. But you must keep risk in check given the market’s volatility.

Long-term Investing: If you’re looking to invest for the long term, focus on Solana’s fundamentals, like its scalability. Long-term investors care more about where a cryptocurrency will be in 2-3 years rather than its short-term fluctuations.

Diversification

Just like in traditional investing, spreading your investment across different cryptocurrencies can reduce risk. A diversified portfolio can have a mix of established coins like Bitcoin and Ethereum and smaller high potential projects like Solana.

Risk Management: Established assets are more stable, emerging projects more risky but can deliver higher returns. Diversifying across different types of assets can balance the rewards and risks.

Volatility: Tracking an asset’s volatility, like Solana’s, can help you decide how much to invest and when. For example, Solana’s price swings can be both risk and opportunity, so knowing the asset’s normal range can guide your entry and exit.

Red Flags: How to Avoid a Cryptocurrency

There are red flags to look out for when evaluating a cryptocurrency. If you see these, you can avoid scams and high risk projects.

1. No Transparency

If the project doesn’t show their team or explain their tech, it’s a red flag. Trustworthy projects are transparent about their goals, tech and the people behind them.

2. Unrealistic Expectations

Be cautious of projects that promise guaranteed returns. The cryptocurrency market is volatile and no investment can promise profits.

3. Low or Fake Trading Volume

Trading volume is demand. Low volume means lack of interest or liquidity, makes it hard to sell when you need to. Be cautious of projects that use fake trading volume to create an illusion of popularity.

Conclusion: Make an Informed Decision

Choosing the right cryptocurrency takes time, research and clear understanding of your goals. Whether you’re looking at Solana price, Ethereum’s ecosystem or Bitcoin’s stability, looking beyond the headlines to evaluate each project’s potential and risk is key. By focusing on tech, team and market position, you can make better decisions and build a crypto portfolio that matches your financial goals.

This pivot into the world of cryptocurrency marks a notable shift for Trump, who previously expressed skepticism about digital currencies. The launch of WLF, however, signals a dramatic change in tone as he now frames decentralized finance as a key pillar of both his business strategy and his political platform.

Listen to a podcast conversation on Trump’s foray into crypto. It’s fascinating:

The Trump Family’s Foray Into Decentralized Finance

At the heart of World Liberty Financial is the concept of decentralized finance—financial transactions that occur without intermediaries such as banks or traditional financial institutions. This approach is built on blockchain technology, which allows users to borrow, lend, and trade assets without the usual layers of oversight. During the X Spaces launch, Trump positioned WLF as a vehicle to “disrupt outdated financial institutions” and empower individuals to control their own financial destiny.

Crypto is the future – I’m all in https://t.co/9hdjxrL3xn

— Eric Trump (@EricTrump) September 12, 2024

“We’re embracing the future with crypto and leaving the slow, outdated big banks behind,” Trump declared, framing the project as an answer to what he described as a bloated, overly politicized financial system. “If we don’t take the lead in crypto, countries like China will, and that’s not a future we want. America should be at the forefront of this financial revolution.”

This rhetoric aligns with Trump’s broader political ambitions, where he has vowed to make the United States the “crypto capital of the planet” if re-elected. It’s also a striking change for someone who, just a few years ago, warned that crypto was “potentially a disaster waiting to happen.”

But in an era of rapid technological and financial transformation, Trump now seems to view cryptocurrency as a necessary evolution of global finance. “Whether we like it or not, crypto is the future. We have to do it,” Trump said during the live event, highlighting how his children, particularly Barron, had opened his eyes to the potential of decentralized finance.

A Family-Led Crypto Empire: The Faces Behind World Liberty Financial

The involvement of Trump’s family has added an intriguing dynamic to the project, with each family member playing a distinct role in the venture. Donald Trump Jr. and Eric Trump are described as “Web3 Ambassadors,” responsible for shaping the platform’s vision and connecting with the broader crypto community. Barron Trump, often a lesser-known figure in the public eye, has been thrust into the spotlight as WLF’s “Chief DeFi Visionary.”

“Barron knows so much about this,” Trump remarked during the X Spaces event, describing his youngest son’s fascination with crypto. “He talks about his wallet. He’s got four wallets or something, and he knows this stuff inside and out.”

Apparently people need to be reminded that the Trump family is NOT launching a memecoin, but a crypto platform as confirmed by Donald Trump Jr.

There is no competition between $TRUMP @MAGAMemecoin and WLF. pic.twitter.com/xLUF5Ch2cl

— Steven Steele (@MrStevenSteele) September 16, 2024

While some might view the Trump family’s venture into DeFi as yet another celebrity-backed project, industry experts see potential in the power of their brand. “The Trump name carries enormous weight, particularly among a segment of the population that views Trump as an entrepreneurial icon,” says Brad Harrison, CEO of the DeFi platform Venus Protocol. “What will be crucial, though, is how the family navigates the complexities of the crypto space, where reputations can rise and fall quickly.”

Donald Trump Jr. was more direct in his messaging, focusing on the empowerment narrative often associated with decentralized finance: “We’re giving people the tools to take control of their own financial destiny. This isn’t just about finance—it’s about freedom. The traditional financial system has failed too many people for too long.”

Eric Trump, on the other hand, emphasized user experience, arguing that the success of WLF would hinge on its ability to simplify DeFi for the average person. “We have to make decentralized finance more intuitive and accessible,” he said. “It’s not just about the tech—it’s about ensuring everyone, from crypto enthusiasts to first-timers, can engage with this new financial system.”

The Platform and Its Governance Token

One of the key features of World Liberty Financial is its governance token, WLFI. Unlike many crypto tokens, WLFI is not designed to be transferable or yield-bearing; instead, it will grant holders voting rights over the platform’s future direction. According to Chase Herro, a key partner in the project, this token is central to the idea of community governance in the WLF ecosystem. “We’re not just building a platform. We’re building a decentralized organization where users have a real say in how the platform evolves,” Herro explained.

However, the non-transferable nature of WLFI has sparked some skepticism among seasoned crypto investors. “A non-transferable governance token without yield is an odd choice,” says Zach Hamilton, founder of Sarcophagus and venture partner at Venture51. “Typically, the allure of DeFi is liquidity and the ability to move assets freely. It’s unclear why users would buy into a token they can’t trade, even if it grants governance rights.”

Despite this skepticism, WLF’s public token sale is set to distribute 63% of WLFI tokens to accredited investors, with 17% allocated for user rewards and 20% reserved for the founding team. The founders have emphasized transparency in the sale process, with no pre-sales or VC allocations, in a bid to avoid the perception of favoritism or insider advantages—a concern that has plagued other crypto projects.

Trump’s Evolution on Crypto and Regulatory Hurdles

Perhaps the most surprising aspect of Trump’s crypto venture is his rapid evolution on the subject. During his presidency, Trump was highly critical of digital currencies, frequently labeling Bitcoin as a “scam.” But as his children became more involved in the industry, Trump began to see the potential for decentralized finance to revolutionize banking, particularly in how it could bypass traditional gatekeepers and give individuals more control over their finances.

“I wasn’t overly interested at first,” Trump admitted. “But seeing how my kids embraced it, and seeing the potential of this space, I knew it was something I needed to get involved in.”

Although I don’t think Trump fully understands Crypto, it seems his sons do. Eric, Donald, & Barron.

Not just what it is, but how it can positively impact everyday Americans, & the world.

It Removes middlemen whom profit from “pushing paper”.

Removes gov’t & private entities’,… pic.twitter.com/t5PKUmPMJD

— Mrs. Hexican (@MrsHexican) September 17, 2024

Yet, the timing of the venture raises questions about regulatory scrutiny, particularly given Trump’s current bid for the presidency. The platform’s decentralized nature may allow it to operate outside traditional financial regulations, but it could also raise constitutional issues, especially around the Emoluments Clause, which prohibits U.S. officials from accepting financial benefits from foreign governments.

“There’s certainly a risk of constitutional entanglements if Trump were to win the presidency again,” says Ciara Torres-Spelliscy, a law professor at Stetson University. “Decentralized finance platforms can easily be used by foreign actors, and that raises significant questions about conflicts of interest.”

The regulatory environment also poses a significant challenge. Crypto insiders have long criticized the U.S. Securities and Exchange Commission (SEC) for what they see as an aggressive stance toward the industry. Trump was quick to echo these concerns, blaming the current administration for stifling innovation. “The Biden administration has been extremely hostile to crypto. We need to foster innovation, not choke it with red tape,” Trump stated.

Trump’s comments align with broader industry frustrations toward SEC Chair Gary Gensler, who has taken an enforcement-first approach to regulating crypto. “We need clear rules, not lawsuits,” said Donald Trump Jr. “The current regulatory regime is hostile to innovation, and it’s hurting American leadership in the space.”

Implications for the Future of Crypto

The launch of World Liberty Financial comes at a critical moment for the cryptocurrency industry. With regulatory pressure mounting, and questions about the sustainability of decentralized finance lingering, the Trump family’s foray into crypto could have profound implications. If successful, WLF could serve as a high-profile example of DeFi’s potential to disrupt traditional financial systems.

“This could be a watershed moment for decentralized finance,” says Harrison. “If Trump can leverage his platform to bring mainstream attention to DeFi, it could accelerate adoption and change the trajectory of the industry.”

But as with any new venture, the risks are significant. DeFi platforms are often vulnerable to technical failures and hacks, as seen with previous projects like Dough Finance, which was led by some of the same figures now involved in WLF. A hack that drained the platform of all funds contributed to its rapid downfall.

“The key will be in execution,” says Hamilton. “There are no guarantees in crypto. If WLF experiences a major setback, it could damage not just the platform, but the entire Trump brand.”

For now, the Trumps are betting big on the future of crypto—and their ability to shape it. In his closing remarks during the X Spaces event, Trump reiterated his belief that decentralized finance is the path forward for both America and the world. “Crypto is a massive business,” he said. “It has the potential to reshape everything we know about finance, and we’re going to lead the way.”

Trump’s Bid to Lead the Crypto Revolution

The launch of World Liberty Financial marks a significant step for Donald Trump, both as a businessman and political figure. By embracing decentralized finance, Trump is positioning himself as a leader in the future of global finance, offering a vision of financial freedom that resonates with both crypto enthusiasts and his political base. For sophisticated investors and crypto executives, the project’s success will depend on its ability to navigate the complex regulatory landscape, deliver on its promises, and maintain public trust.

As the 2024 election approaches, Trump’s foray into crypto will undoubtedly be scrutinized. But if he can pull it off, World Liberty Financial could become a defining venture in both his business legacy and the evolution of the digital currency landscape. With its promise of decentralized control and financial empowerment, WLF has the potential to capture the imagination of a global audience—if it can overcome the operational, technical, and regulatory hurdles ahead. In this bold move, Trump has not only doubled down on crypto but also staked his reputation on a high-risk, high-reward future in the world of finance. How this plays out will have profound implications for both his entrepreneurial and political endeavors.

Nemil Dalal, the product lead for the Coinbase Developer Platform, recently shared insights on this development, noting that the first AI-to-AI crypto transaction is not just a novelty but a glimpse into the future of decentralized finance. “AI and crypto are two of the hottest trends in the industry right now,” Dalal explained. “The combination is powerful because crypto allows programmable conditions, enabling AI agents to transact autonomously in ways that traditional financial systems simply can’t match.”

The Importance of AI-Crypto Integration

According to Dalal, AI agents are poised to become increasingly central to the digital economy. One of the major obstacles AI faces is the inability to interact with traditional financial systems—AI cannot walk into a bank and open an account. This is where crypto comes into play. “AI can’t open a bank account, but it can own a crypto wallet. That’s why crypto becomes a perfect financial ecosystem for AI,” Dalal emphasized.

In a recent announcement, Coinbase CEO Brian Armstrong echoed this sentiment, celebrating the first AI-to-AI transaction using USDC on Coinbase’s Layer 2 (L2) blockchain network, Base. Armstrong pointed out that this new capability could enable AI agents to transact with humans, merchants, and other AI agents without the limitations imposed by traditional banking infrastructure. “This is a huge step forward. AI agents can now use crypto to complete tasks autonomously,” Armstrong said.

A New Era for AI Agents and Financial Transactions

The AI-to-AI transaction opens the door for more sophisticated financial interactions between AI agents. Imagine, for instance, one AI specializing in web crawling for data analysis and another specializing in summarization. These AI agents could now pay each other for services rendered, creating a dynamic ecosystem of digital agents performing tasks and settling payments without human intervention.

Dalal offered a compelling example: “Skyfire, one of the companies we’re working with, is building financial platforms for AI agents. In a recent transaction, one AI agent crawled the web for specific data, which it then sold to another AI agent. This level of interactivity is unprecedented.”

The ability to facilitate micro-payments through crypto also enhances the utility of AI. Dalal explained that AI agents could pay humans in crypto for specific tasks, such as gathering opinions or summarizing information. This capability could foster a new gig economy where AI-driven tasks are completed through micro-transactions, further expanding the role of crypto in AI ecosystems.

Overcoming Traditional Barriers

One of the most exciting aspects of this development is the way it bypasses existing limitations in the traditional financial system. AI agents have long been hindered by the inability to access services like credit cards or bank accounts, which are necessary to use platforms like AWS or GitHub. Crypto, with its decentralized and programmable nature, provides a solution.

“AI agents can now interact with crypto wallets seamlessly through APIs, enabling them to access services without the need for traditional financial tools,” Dalal said. “This is where AI and blockchain create something truly unique. We can finally facilitate tasks and transactions that were impossible in the past.”

The Future of the AI-Crypto Economy

As the potential of AI-crypto integration becomes clearer, industry experts are increasingly bullish on its future. Bitwise Asset Management forecasted that AI and crypto could add $20 trillion to the global economy by the end of the decade. Meanwhile, global investment manager VanEck predicts that the revenue from AI-crypto integration could reach $10.2 billion by 2030.

Armstrong has posed a provocative question: “How big will the AI-to-AI economy be in a few years?” While the answer is still uncertain, the possibilities are vast. From micro-tasking and data aggregation to autonomous transactions between machines, the combination of AI and crypto has the potential to reshape entire industries.

Dalal is optimistic about what’s to come: “We’re seeing a tremendous amount of demand for these types of AI-crypto transactions, and we’re only scratching the surface. Developers are eager to explore what this can do for industries ranging from finance to e-commerce.”

Coinbase’s AI Strategy and Developer Platform

Coinbase isn’t stopping at financial transactions between AI agents. The company’s broader AI strategy includes developing AI agents that can assist with customer support, automate code generation, and enable faster app development. Coinbase’s developer platform is a cornerstone of this effort, providing tools that allow developers to integrate AI and blockchain seamlessly.

“We’re incredibly bullish on AI and crypto,” Dalal stated. “Blockchain development can be challenging, but our goal is to make it as simple and secure as possible. From wallets to APIs, we want to give developers the tools they need to build on-chain applications that leverage both AI and crypto.”

Last week, @brian_armstrong and I spoke to all Coinbase employees about our vision for @CoinbaseDev (CDP):

"Making it easier to build onchain than online, and supporting a million onchain developers building for a billion users." pic.twitter.com/UH9dwzd1kC

— Nemil Dalal (@nemild) August 23, 2024

The platform’s Onchain Kit, for instance, allows developers to build decentralized applications (dApps) in minutes rather than weeks. Meanwhile, Coinbase’s smart wallets provide end-users with secure access to the blockchain ecosystem, empowering AI agents to use these tools for a variety of tasks.

As Armstrong noted, “AI is going to run on the device, in the cloud, and on the blockchain. The future will involve entirely new experiences made possible by the integration of these technologies.”

Integration of AI and Crypto Just Starting

The integration of AI and crypto is still in its infancy, but the early signs are promising. As developers experiment with new use cases, it’s clear that the marriage of these two technologies could be a game-changer for industries worldwide.

Dalal summed up the potential: “We’re witnessing the dawn of a new financial ecosystem. The fusion of AI and crypto has the potential to unlock tremendous value, and Coinbase is at the forefront of making that happen.”

As more AI agents begin to interact autonomously and transact using crypto, the implications for finance, technology, and commerce will be game-changing. For now, Coinbase’s first AI-to-AI crypto transaction is just the beginning of what promises to be a transformative journey into the future of decentralized finance. This is potentially world-changing stuff.

Why Buy USDT Without KYC?

There are a couple of reasons why one would go for purchasing USDT without KYC, some of which include:

• Privacy Related: Such users may really value their privacy and might not be too interested in submitting their sensitive data to any centralized exchange.
• Speed and Convenience: KYC verification may be a slow process. Bypassing the KYC process may result in a more expedited process to get USDT.
• Limited Access: People in areas with limited access to traditional financial services may look for alternative entry points to the cryptocurrency market.

Understanding the Risks

On the other hand, there are also risks in acquiring USDT directly without KYC, as follows:

• Security: Platforms without KYC, therefore, have fewer security measures than other platforms, making them more prone to hacks or scams.
• Less Liquidity: Since they are non-KYC platforms, it means they deal mostly with less volume, which therefore could affect the purchase and sale of USDT at the prices users would want to sell them at.
• Increased Fees: Skipping KYC could cost more in terms of high transaction fees to offset the high inherent risk on the platform.
• Regulatory Scrutiny: Cryptocurrency regulations are ever-changing. Platforms that avoid KYC may very well be subject to stronger regulatory scrutiny, if not shut down, in the future.

Practical Methods of Purchasing USDT Without KYC

1. Peer-to-Peer (P2P) Marketplaces:

P2P markets connect buyers and sellers directly, facilitating transactions in the Buy USDT No KYC option. Here’s how it works:

• Users post USDT purchase or sale orders and specify a preferred payment method such as cash, gift cards, etc., and at what price they want the order to execute.
• The platform will be facilitated by an escrow service, which in this case will hold the USDT until both parties have confirmed the completion of the transaction.

Security Issues in P2P platforms:

• Use really solid escrow services and reliable platform services.
• Research vendors as much as possible. Only buy from vendors with a solid reputation and a complete sales record.
• Do not release the USDT until complete payment is received.
• But do be careful with such too-good-to-be-true deals. The next type of scammers is often seen using such P2P platforms to fleece unsuspecting users.

2. Decentralized Exchanges (DEXs):

DEXs are basically blockchain-powered platforms for the exchange of cryptocurrencies with no central authority, for example, USDT has no KYC for the wallets of sellers.

Security considerations for a DEX:

• DEXs have a non-custodial nature, which means users hold their own cryptocurrency. This gives them control, but on the flip side, there’s no central authority to recover lost funds in cases of error or hacking.
• Users should be able to appreciate how blockchain technology works and how to deal with wallets.
• Token swapping in DEXs can be complex with smart contracts. These contracts need to be researched and understood well before engaging in them.
• Some have a problem with liquidity, especially for smaller tokens.

3. Gift Card Services:

Some services gift card purchases to get you the cryptocurrency. As many of these sites claim “No KYC”, they do not necessarily ask for detailed KYC for smaller buys.

Security Considerations of Gift Card Services

• Most of them, however, tend to be expensive.
• You risk buying stolen gift cards, which could lead to account suspension or possibly even get you into trouble legally.
• Be cautious with scams that require payment in the form of gift cards in exchange for cryptocurrencies.

Conclusion

There are ways to purchase USDT without KYC, but they come with inherent risks. P2P markets, decentralized exchanges, and gift card services can be used to various extents to bring effectiveness and convenience. Do consider the amount of risk and convenience that the respective methods offer before proceeding. Do try to protect your money and personal information as much as you can. If this is of major concern to you, you will need to find a good centralized exchange, since most of them are, that will have a strict KYC procedure. Most of these exchanges also excel in security measure and liquidity support, which would otherwise take risks related to the method of non-KYC to a low level.

Wright has claimed for years to be Nakamoto, taking his claims to court in an effort to be legally recognized as Bitcoin’s creator and reap the financial rewards that would come with the recognition. Justice Mellor’s ruling came in the civil trial brought by Crypto Open Patent Alliance (COPA) aimed at disproving Wright is Nakamoto and crippling his ability to continue suing crypto companies.

“Thus, Dr Wright presents himself as an extremely clever person,” Justice Mellor wrote. “However, in my judgment, he is not nearly as clever as he thinks he is. In both his written evidence and in days of oral evidence under cross-examination, I am entirely satisfied that Dr Wright lied to the Court extensively and repeatedly. Most of his lies related to the documents he had forged which purported to support his claim. All his lies and forged documents were in support of his biggest lie: his claim to be Satoshi Nakamoto.

“Many of Dr Wright’s lies contained a grain of truth (which is sometimes said to be the mark of an accomplished liar), but there were many which did not and were outright lies,” Justice Mellor added. “As soon as one lie was exposed, Dr Wright resorted to further lies and evasions. The final destination frequently turned out to be either Dr Wright blaming some other (often unidentified) person for his predicament or what can only be described as technobabble delivered by him in the witness box.”

Interestingly, after hearing the mountain of evidence submitted in the trial, Justice Mellor has his own opinion on the age-old question of whether Nakamoto is a single individual or if the pseudonym was used by a group of people.

Satoshi Nakamoto was and remains a pseudonym,” he wrote. “Although this is not of any significant weight in my overall conclusion, my personal view, having heard all the evidence in this Trial, is that it is likely that a number of people contributed to the creation of Bitcoin, albeit that there may well have been one central individual. It would therefore be accurate to refer to Satoshi as he/she/they to reflect the possibilities, but unwieldy. I will therefore refer to Satoshi simply as ‘he’, but it is a shorthand for he/she/they.”

Needless to say, Wright has already indicated he intends to appeal the ruling.

I fully intend to appeal the decision of the court on the matter of the identity issue. I would like to acknowledge and thank all my supporters for their unwavering encouragement and support. In the meantime, I shall continue to work closely with the Teranode team to achieve scaling beyond three million transactions per second. At present, Teranode is achieving one million tps and we are ensuring that the cloud-based server configurations function correctly in a way that does not impact scaling. However, even at a lower level of transaction processing, Teranode is far more efficient than the existing node structure and will lead to cost savings as well as a path to scalability.

^Posted by LB on behalf of CSW.

— Dr. Craig S Wright (@Dr_CSWright) | May 20, 2024

The Significance of Identity Verification in Crypto

Fraud detection and scams are growing in a technological era, especially in crypto currencies. It has become necessary to take proactive security measures to make transactions and accounts secure. 

Here are the several reasons to practice  identify verification in crypto:

Preventing Illegal Activities

Cryptocurrencies can be susceptible to being used for illicit activities like money laundering, fraud, and financing terrorism. Identity verification helps mitigate these risks by tracking the flow of transactions back to their source. Security is an effective method to eliminate the stress of scams and wrong transaction such as hacking wallets. 

Regulatory Compliance

As global financial regulators pay closer attention to cryptocurrencies, exchanges and wallet providers are increasingly required to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. These regulations mandate the verification of users’ identities to create a more transparent financial system.

Enhancing Trust and Security

For cryptocurrencies to gain broader acceptance and usage, users must trust that the ecosystem is safe. Identity verification adds a layer of security that reassures users about the legitimacy of their transactions and counterparts. It is a piece of mind for the user that their accounts are protected, and only they can gain access to their wallets and accounts. Also, some secure security measures like biometric, facial recognition and two factor pass code makes it more secure.

Challenges of Implementing Identity Verification in Crypto

Implementing identity verification in the cryptocurrency world presents several challenges:

Privacy Concerns

One of the foundational principles of cryptocurrencies is the preservation of user anonymity. Mandatory identity verification raises concerns about user privacy and the potential for governmental or unauthorized surveillance.

Technological and Operational Hurdles

Integrating robust identity verification processes that are both secure and user-friendly into existing cryptocurrency platforms can be technologically challenging and costly. Despite of expensive, technological operations enhance security and make the payment process more secure. 

Global and Regulatory Variability

The cryptocurrency market is global, but regulations vary significantly across jurisdictions. Adapting identity verification practices to comply with diverse legal frameworks can be complex and cumbersome. However, if done with proper strategies and planning it will provides a piece of mind to avoid of scams. 

Technological Solutions and Innovations

To address these challenges, various technological innovations have been developed:

Decentralised Identity Verification

Some platforms are exploring blockchain-based, decentralised identity verification systems that allow users to control and share their identity information selectively. This approach aims to maintain privacy while still complying with regulatory requirements.

Biometric Verification

Advanced biometrics, including facial recognition and fingerprint scans, are being used to enhance the security and accuracy of identity verification without storing sensitive personal information centrally. Biometric like fingerprint reading is effective way for security of transactions or withdraws of crypto that ensures that the right person is accessing the wallet. It will eliminate the stress of fraud detection. 

AI and Machine Learning

These technologies are increasingly employed to automate and enhance the accuracy of the identity verification process, reducing human error and the potential for fraud. Also, machine learning technology is used in various sectors to improve the user identity with devices. You can also leverage artificial intelligence to recognize anyone’s identity. 

Regulatory Trends and Future Directions

The regulatory landscape for cryptocurrencies is still evolving. As governments and international bodies aim to develop regulations that protect consumers without stifling innovation, identity verification will be a central theme. Future regulations will likely require more transparent and rigorous identity verification processes while trying to uphold the core values of privacy and decentralisation cherished in the crypto community.

Conclusion

Identity verification in the cryptocurrency sector is a complex issue that sits at the intersection of security, privacy, and regulatory compliance. As the industry continues to grow and mature, finding solutions that balance these aspects will be crucial for the continued adoption and success of cryptocurrencies. Innovations in technology and regulatory frameworks that respect the principles of decentralization while ensuring a secure and compliant environment will define the future of identity verification in crypto. This balance is not merely beneficial but essential for the legitimacy and sustainability of the crypto ecosystem.

According to the company, lawyers have managed to recover between $14.5 and $16.3 billion dollars. The company says it was a very difficult task since FTX held “only 0.1% of the Bitcoin and only 1.2% of the Ethereum customers believed it held.” As a result, since debtors could not benefit from the appreciation of those cryptos to the extent initially thoughts, the lawyers had to get creative, looking for other sources of recoverable assets.

As a result of their efforts, FTX has put forth a plan that pays back all non-governmental creditors. The proposed plan includes resolution of the $24 billion in IRS claims with “a $200 million cash payment and a $685 million subordinated claim that will rank below claims of all creditors and governmental entities.” The plan also includes restoring $1.2 billion seized by the DOJ to be disbursed to customers and creditors, if the DOJ agrees.

For creditors holding claims in an allowed amount of $50,000 or less, the Plan creates a special “convenience class”. Because of this classification, if the Plan is approved by the Bankruptcy Court, the Debtors anticipate that 98% of the creditors of FTX by number will receive approximately 118% of the amount of their allowed claims within 60 days after the effective date of the Plan, subject to know-your-client and distribution information requirements.

“We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” said John J. Ray III, Chief Executive Officer and Chief Restructuring Officer of FTX. “On behalf of FTX’s independent Board of Directors, I want to extend our deepest appreciation to the numerous governmental agencies, including the United States Department of Justice, the Commodity Futures Trading Commission, the Internal Revenue Service and the Securities Commission of The Bahamas, for their tireless efforts, cooperation and assistance through this complex recovery process. I also want to thank the Joint Official Liquidators of FTX Digital Markets, the Ad Hoc Committee of Non-U.S. Customers, the Class Action Claimants, BlockFi, the Official Committee of Unsecured Creditors and all of their professionals for their hard work in the development of the Plan and its resulting achievements. Finally, I want to thank all the customers and creditors of FTX for their patience throughout this process.”

Wright has engaged in a years-long campaign to prove he is the anonymous creator of Bitcoin and reap the financial rewards of doing so. Most experts have long-since discarded Wright’s claims, but that hasn’t stopped him from trying to make his case in court.

According to Wired, Justice James Mellor destroyed Wright’s claims, leaving no doubt that is not who he claims to be.

“The evidence is overwhelming,” said Justice Mellor. “Dr. Wright is not the author of the Bitcoin white paper. Dr. Wright is not the person that operated under the pseudonym Satoshi Nakamoto. Dr. Wright is not the person that created the Bitcoin system. Nor is Dr. Wright the author of the Bitcoin software,” he added.

The ruling is sure to bring relief to many in the crypto community, as a favorable ruling for Wright could have had profound implications.

In this blog, we will offer some insights into the hottest coins in the crypto world for September 2023 to help you make an informed decision. Let’s begin!

Bitcoin

Bitcoin is the pioneer in the crypto market, with Satoshi Nakamoto introducing it in 2009. Although it has experienced many ups and downs over the years, this digital asset is one of the most renowned in the industry. How has Bitcoin succeeded to remain at the forefront of the crypto sector? Well, it’s mainly due to its status as the first digital asset to be created and its solid network of supporters. Even if Bitcoin didn’t have much value when it was first introduced, its price had many upsides, translating into considerable gains for investors. If you’re wondering why Bitcoin is one of the top cryptocurrencies to buy this month, we can tell you plenty of reasons that make it an excellent choice. 

For instance, Bitcoin has a decentralized nature, which means no intermediary is required when completing a transaction. This makes the digital asset a great medium of exchange, eliminating costly fees and ensuring an increased speed when sending funds. Plus, it is estimated that the next Bitcoin halving is close (although the data hasn’t yet been confirmed, it is believed it will occur in April 2024). Such an event could be a catalyst for a bull market if we consider Bitcoin’s past performance. During all the other halving events – namely in 2012, 2016 and 2020-, the digital asset reached all-time highs, so investors should prepare for the next Bitcoin halving and take advantage of all the opportunities. 

Ethereum 

In 2013, Vitalik Buterin introduced a whitepaper for a new crypto project: Ethereum. With the other co-founders, the computer programmer succeeded in raising the necessary funds to lay the foundation of Ethereum, which quickly established itself as a reputable cryptocurrency, garnering the interest of developers because of its unparalleled features. Ethereum also serves as a platform for the blockchain, enabling the development of NFTs (non-fungible tokens) which have revolutionized the art sector in recent years. 

Since the moment of its inception, Ethereum has evolved considerably, and although it has experienced price fluctuations, it remains one of the most reliable cryptocurrencies and a valuable addition to any investor’s portfolio. It has many advantages over its competitors, making up under 20% of the cryptocurrency market. Ethereum is the leading smart contract platform, hosting many dApps, including NFT marketplaces, DeFi projects, and metaverse applications. Moreover, Ethereum is always evolving: last year, The Merge – the first significant upgrade in its network- resulted in the transition from energy-intensive PoW consensus mechanism to the PoS model that is more efficient. However, other upgrades will follow, aiming to turn the Ethereum into a maximally resilient platform.  

Avalanche

Avalanche has generated a lot of social buzz in 2021 – one year after its launch, it has gained significant popularity, becoming one of the most-talked-about digital assets in the market. As the popularity of blockchain keeps increasing, it is expected that Avalanche will further raise the interest of investors. There are many reasons why this digital asset is a top buy, but the most impactful ones are its versatility and unparalleled value gain. 

So, investing in Avalanche in September 2023 can be a good idea, given its potential as a long-term investment. Not only has the digital asset generated impressive returns by keeping a sharp uptrend since its introduction, but it has also demonstrated its resilience. As most crypto analysts state, Avalanche is still in its early stages, so buying it today could result in impressive gains in the following years.

Litecoin

Since its inception in 2011, Litecoin has stood the test of time, with many calling it “the digital silver” just as Bitcoin is compared to digital gold. While it uses the same protocol as Bitcoin, Litecoin has some considerable adaptations, as the network offers more instantaneous verification times for transactions. A notable achievement of the cryptocurrency is the adoption of SegWit (Segregated Witness) which resulted in more efficient network transactions. Litecoin also completed the Lightning Network Transaction, boosting its reputation as a trustworthy and fast digital asset. 

Litecoin has excellent scalability, processing 56 transactions per second, unlike Bitcoin which can only handle 7 transactions. Moreover, it offers lower transaction fees than other digital assets, making it a great investment choice. Besides, Litecoin has continuously improved since its launch, making it a desired asset among investors. 

Chainlink

Chainlink is another exciting crypto project, which uses an Oracle network to enable secure communication between blockchains. Moreover, due to its flexible infrastructure, it can pull data from APIs, integrating any blockchains, whether current or future ones. Chainlink has even collaborated with Google, succeeding to stand out as a trustworthy cryptocurrency. Ever since the launch of its first ICO, Chainlink raised $32 million in a very short time, intriguing investors with its purpose to connect external data sources and blockchains. 

Chainlink has excellent fundamentals, having a clear roadmap with clear and realistic goals. The project has numerous use cases in areas like insurance, DeFi, gaming and NFT, and even social impact. Chainlink is likely to gain more value as a network in the future, and according to stakers, this translates into higher rewards, representing a win-win situation, as a valuable network also attracts more investors. 

The bottom line

As you can see, there are many promising cryptocurrencies to watch out for this month. With their increased popularity and great features, digital assets are more than just a passing fad, offering investors great opportunities to make extra money. When choosing the best crypto for your portfolio, consider your investment goals, and analyze factors like stability, market value and technology to increase your chances of success.

As part of the partnership between the two companies, “Coinbase will use Google Cloud’s powerful compute platform to process blockchain data at scale.” Coinbase will also benefit from Google’s fiber-optic network, using the speed of the service to help power machine-learning crypto insights.

Google plans to allow select customers to pay for cloud services via crypto, with customers in the Web3 space being given the opportunity first.

“We are excited Google Cloud has selected Coinbase to help bring Web3 to a new set of users and provide powerful solutions to developers,” said Brian Armstrong, Co-founder and CEO of Coinbase. “With more than 100 million verified users and 14,500 institutional clients, Coinbase has spent more than a decade building industry-leading products on top of blockchain technology. We could not ask for a better partner to help execute our vision of building a trusted bridge into the Web3 ecosystem.”

“We want to make building in Web3 faster and easier, and this partnership with Coinbase helps developers get one step closer to that goal,” said Thomas Kurian, CEO of Google Cloud. “We’re proud Coinbase has chosen Google Cloud as its strategic cloud partner, and we’re ready to serve the thriving global Web3 customer and partner ecosystem. Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space.”

Cryptocurrency and blockchain tech are in the process of revolutionizing a range of industries, although none as much as the finance market. JPMorgan has started using blockchain for collateral settlements, Mastercard has partnered with Bakkt to support crypto, and now American Express is getting in on the action with its own crypto rewards credit card, in partnership with Abra.

According to TechCrunch, the company has not revealed what cryptocurrencies will be supported, but Abra founder and CEO Bill Barhydt told the outlet that customers will eventually be able to choose from multiple different cryptocurrencies.

American Express customers wanting to take advantage of the crypto rewards will need to be registered with Abra, where they will be able to use the company’s exchange to swap rewards for a variety of cryptocurrencies.

“Eventually, we’re also working on a solution that will allow you to use your existing crypto balance to affect your credit line, which is something we’ll probably launch in the future. I think that’s a big benefit because a lot of crypto holders are kind of penalized when it comes to banking and credit,” Barhydt said.

The new card is expected launch in the latter part of 2022.

The SEC has filed lawsuits against two of the world’s biggest crypto exchanges in the last two days. It filed against Binance Monday and followed up with a suit against Coinbase Tuesday.

In an interview with CNBC, Gensler made it very clear what he and the SEC thinks of the crypto market.

“I think there’s been clarity for years,” Gensler said. “The investing public has the benefit of US securities laws. Crypto should be no different and these platforms, these intermediaries, need to come into compliance and protect the investing public.

“These trading platforms, they call themselves exchanges, are co-mingling a number of functions which in traditional finance, we don’t see the New York Stock Exchange also operating a hedge fund, making markets and, as we alleged in Binance, having a sister organization flooding the platform with transactions called ‘wash trading.’ And the lack of controls on the platforms is really a web of deception and conflicts.”

Jim Cramer pointed out that many of the measures the SEC is proposing in its Binance case, such as asset siezure, will essentially end the platform.

“We have concerns when a platform like this puts themselves out to the public, is consciously trying to avoid US law….It’s fundamentally a lack of controls, deception, conflicts,” Gensler replied.

‘We Don’t Need More Digital Currency’

Cramer then pointed out that he couldn’t understand, after reading the Binance complaint, how value was being assigned to the crypto assets.

“In the Coinbase complaint, we note that they have, through the Coinbase wallet, you can trade 16,000 different tokens,” Gensler replied. “And there’s a lot of debate as to the use cases and where’s there any there, there. Look, we don’t need more digital currency. We already have digital currency. It’s called the US dollar. It’s called the Euro. It’s called the Yen. They’re all digital right now.

“We already have digital investments. You have entrepreneurs representing digital investments on this program all day long. Whether it’s the big tech companies, the automobile companies, you name it, it’s all digit right now, the investing world.”

Watching the interview, the above exchange was one of the moments when Gensler seemed most passionate, lending considerable weight to accusations that he is on a crusade to kill crypto and protect traditional currencies.

The agency announced the suit in a press release:

The Securities and Exchange Commission today charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. The SEC also charged Coinbase for failing to register the offer and sale of its crypto asset staking-as-a-service program.

“We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chair Gary Gensler. “In other parts of our securities markets, these functions are separate. Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC. Further, as we allege, Coinbase never registered its staking-as-a-service program as required by the securities laws, again depriving investors of critical disclosure and other protections.”

“You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: the consequences for the investing public are far too great,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. “As alleged in our complaint, Coinbase was fully aware of the applicability of the federal securities laws to its business activities, but deliberately refused to follow them. While Coinbase’s calculated decisions may have allowed it to earn billions, it’s done so at the expense of investors by depriving them of the protections to which they are entitled. Today’s action seeks to hold Coinbase accountable for its choices.”

The action is the latest effort by the SEC to crack down on the crypto market, having filed a lawsuit against Binance just the day before.