Author: Max Bauer
Richard Schueler, the founder of HEX and PulseChain, better known as Richard Heart, has been added to Interpol’s most wanted list, facing charges of aggravated tax fraud and assault in Finland. Finnish authorities are investigating Schueler, a US citizen who had been residing in Helsinki, for allegedly evading hundreds of millions of euros in taxes. According to Finnish news outlet YLE, Helsinki police detective Harri Saaristola stated that the investigation stemmed from discrepancies between Schueler’s tax returns and the Finnish Tax Administration’s income assessment. The alleged tax evasion occurred between June 2020 and April 2024. A separate assault charge relates…
Cryptocurrency analytics firm Alphractal has issued a cautionary note on Bitcoin’s recent price action, highlighting a potential disconnect between market sentiment and price movement. Despite a positive aggregated Funding Rate, which typically indicates bullish sentiment, Bitcoin has experienced a decline, raising concerns about excessive optimism and potential selling pressure. The Funding Rate, a key metric in the cryptocurrency derivatives market, reflects the balance between long and short positions in perpetual futures contracts. A high Funding Rate suggests a predominance of long positions, often interpreted as a sign of market optimism. However, Alphractal’s analysis reveals a divergence from this typical pattern.…
Morgan Stanley’s Chief US Economist, Michael Gapen, offered insights on the latest Personal Consumption Expenditures (PCE) report and its implications for future Federal Reserve policy. In a recent interview, Gapen characterized the 0.1% increase in PCE as “very favorable,” highlighting the decline in housing-related inflation as a key driver. Gapen acknowledged the persistent stickiness in goods prices, particularly for cars, attributing it to storm-related disruptions. However, he emphasized the overall downward trend in inflation, echoing the views of Federal Reserve Presidents Goolsbee and Williams. While cautioning that the path to disinflation will be bumpy, he sees clear signs of progress.…
The Securities and Exchange Commission (SEC) appears set for a dramatic policy reversal on cryptocurrency regulation, potentially shifting from a historically adversarial stance to one that embraces innovation. An exclusive interview with SEC Commissioner Hester Peirce offers insights into the anticipated changes and the speed at which they might occur. Commissioner Peirce, in a conversation, described a current atmosphere of “transition” and “optimism” within the SEC as the agency awaits the arrival of Paul Atkins, President Trump’s nominee to succeed current Chair Gary Gensler. While acknowledging a period of uncertainty during the transition, Peirce emphasized the potential for immediate action…
El Salvador’s government-backed bitcoin wallet, Chivo, will be either sold or shut down, an official announced Thursday, just a day after the nation secured a $1.4 billion loan agreement with the International Monetary Fund (IMF). This move comes as part of El Salvador’s commitment to scale back its bitcoin policies, a key condition of the IMF deal. Stacy Herbert, director of El Salvador’s national bitcoin office, confirmed the impending change to the Chivo wallet’s status. However, she emphasized that bitcoin will remain legal tender in the country. The government, she added, will continue to purchase bitcoin, potentially accelerating its acquisition…
Bitcoin’s recent surge past $106,000 could be just the beginning, according to Matt Hougan, CIO of Bitwise Asset Management. In a recent interview, Hougan predicted that Bitcoin could reach $200,000 within the next year, driven by “three irrepressible sources of demand”: ETFs, public companies like MicroStrategy, and potentially, governments. Hougan pointed to the possibility of a US Bitcoin strategic reserve as a major catalyst. Citing a bill proposed by Senator Lummis for the government to acquire one million Bitcoin, he argued that such a move could propel the price to $300,000, $400,000, or even $500,000, triggering similar actions by governments…
Ethena (ENA), a decentralized finance platform, has announced a strategic partnership with World Liberty Financial (WLFI), a cryptocurrency project associated with former President Donald Trump. The collaboration centers around a proposal to integrate Ethena’s stablecoin, sUSDe, into WLFI’s forthcoming Aave v3 instance. This proposed integration aims to leverage sUSDe as a core collateral asset within WLFI’s decentralized lending platform. If approved by Aave governance, WLFI users would be able to earn rewards in both sUSDe and WLF, World Liberty Financial’s native token. The move is expected to boost stablecoin liquidity and utilization rates on the platform, mirroring the positive impact…
A legal battle has erupted between cryptocurrency exchange Coinbase and BitGo, the company behind Wrapped Bitcoin (WBTC), following Coinbase’s decision to delist WBTC. BitGo, along with Justin Sun, who recently joined WBTC’s management, filed a lawsuit alleging that Coinbase acted in bad faith by delisting WBTC after launching its own wrapped Bitcoin alternative, cbBTC. The lawsuit contends that Coinbase’s delisting decision was a retaliatory move, motivated by the launch of cbBTC. However, Coinbase has vehemently denied these claims, asserting that the delisting was solely based on a “rigorous internal process” that identified “unacceptable risk” associated with Justin Sun’s involvement in…
The launch of Pudgy Penguin’s Solana-based token, PENGU, was meant to be a bonanza for holders, with its fully diluted market cap soaring to over $3.5 billion and generating over $290 million in trading volume within just two hours. However, for one unlucky trader, the event turned into a financial catastrophe. In a matter of seconds, the trader saw $10,000 evaporate, leaving them with less than $5 worth of PENGU. The incident occurred just minutes before the official token launch when the trader attempted to swap 45 wrapped Solana tokens for PENGU. A combination of a quirk in the decentralized…
New advancements in quantum computing pose a significant threat to Bitcoin’s security, with experts predicting that within five years, these powerful machines could be capable of stealing Bitcoin directly from users’ wallets. The unveiling of Google’s new quantum computing chip, Willow, has intensified these concerns. Willow represents a 56% improvement over Google’s previous chip, accelerating the timeline for quantum computers to break the encryption protecting the $3.8 trillion cryptocurrency industry. Pierre-Luc Dallaire-Demers, a scientist-in-residence at the University of Calgary and founder of a quantum-resistant crypto infrastructure company, warns, “We are about five years away from commercial quantum computers being able…