Monday, November 25, 2024
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Read on! | | 24h Hot Searches Worldwide 🔥 | |
Wall Street Wants Your Bitcoin 🐂
Cantor Fitzgerald CEO Howard Lutnick is spearheading a $2 billion Bitcoin-backed lending initiative, with potential expansion into tens of billions, in partnership with Tether.
The Bitcoin lending program will likely include multiple financial contributors, and Cantor is already recruiting staff for it. This move comes as Cantor acquires a 5% stake in the largest stablecoin issuer, Tether, valued at $600 million. Cantor already manages most of Tether's $132 billion reserves, generating millions of annual fees. Lutnick was recently nominated as Commerce Secretary under US President-elect Donald Trump. Therefore, he has committed to divesting his business interests to comply with government ethics rules, including his role at Cantor.
Editor's Note:
Despite Tether's dominance as the largest stablecoin, it remains under scrutiny. Critics continue to question its claims of holding $84 billion in U.S. Treasury bills and other assets as reserves. In the past, Tether's USDT has depegged due to such claims but has managed to survive each round of FUD. Lutnick, however, has expressed confidence in Tether's reserves, dismissing the concerns as unfounded.
| | | Join us as we unpack Bitcoin staking with Babylon! Learn how this protocol plans to use Bitcoin to secure other PoS networks and earn yield. | | |
Nuh-uh. Not Your Bitcoin. 😶 The Lawrence Livermore National Laboratory has unveiled El Capitan, the world's fastest supercomputer. It is capable of performing 2.79 quadrillion calculations per second (5.4 million times faster than a typical computer).
This immense power raises questions about its potential impact on blockchain security, but experts argue current encryption systems remain safe, with even El Capitan requiring 10 billion years to brute-force a 256-bit private key. Quantum computing, however, poses a more significant threat to blockchain cryptography.
While supercomputers like El Capitan will focus on nuclear simulations and AI research, cybersecurity experts warn that blockchain platforms must proactively adopt quantum-resistant measures such as quantum key distribution to safeguard against advancing technological risks in the future. | | | A candlestick chart is a type of financial chart used to represent the price movement of an asset over a specific period. Each candle on the chart provides a visual summary of price data, showing the open, high, low, and close prices of an asset within that specific candle interval.
In today's article, learn how to build an interactive web app that plots candlestick charts using the TradingView Lightweight Charts library and the CoinGecko API for our historical dataset. | | | In Other News... Axie Infinity Creator Layoffs 21% of Staff. Sky Mavis, the studio behind Axie Infinity will be reducing its headcount by over 50. CEO Trung Nguyen says the layoffs are unrelated to the company's financial health.
Trump Nominates Pro-Crypto Candidate as Treasury Secretary. President elect Donald Trump has nominated Scott Bessent, a pro-crypto hedge fund manager. Initial reaction on X was overwhelmingly positive as expected from the pro-crypto X audience.
Hong Kong Embracing Crypto. Users of Hong Kong's largest virtual bank, ZA Bank, can now purchase Bitcoin and Ethereum directly using fiat. This suggests that retail trading of crypto is becoming more accessible in Hong Kong.
Bitcoin Slides as Dino Coins Surged. Crypto liquidations reached $470M as Bitcoin retraced, failing to break the $100K milestone. During the retracement, altcoins that were popular in 2021 surged unexpectedly.
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