Crypto trading/market thread

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Interesting read.

Tether's Paolo Ardoino: 'If the U.S. Government Wanted to Kill Us, They Can Press a Button'

  • Tether is doing "the best we can" to crack down on illicit crypto use, CEO Paolo Ardoino told CoinDesk. USDT's role in illicit finance is a "drop in the ocean" compared to the U.S. dollar's, he added.
  • The company "doesn't expect any political favors by anyone," he said of Howard Lutnick's role in Donald Trump's campaign.
  • A WSJ report Friday said Tether is under U.S. criminal investigation, which the company denied.

LUGANO, SWITZERLAND – As crypto colossus Tether comes under renewed scrutiny, CEO Paolo Ardoino told CoinDesk that the company respects international sanctions and works closely with law enforcement, but acknowledged it is ultimately at the mercy of U.S. authorities.

"If the U.S. wanted to kill us, they can press a button and kill us anywhere," Ardoino said. "We are not going to fight the U.S."

More:

 
An Arctic Circle Bitcoin Mine Will Heat a Building in a Fishing Village

  • Sazmining is setting up a bitcoin (BTC) mining site in northern Norway that will heat a large building in a fishing village.
  • The firm's CEO, Kent Halliburton, told CoinDesk that other local businesses might spin up similar facilities.
  • The miner doesn't foresee regulatory scrutiny, despite the country's previous restrictions on bitcoin mining.

A bitcoin (BTC) mine is coming to the Arctic Circle.

The 350-square-meter facility, conceived by retail-oriented bitcoin mining firm Sazmining, will be located in a small fishing village on the coast of Norway. Once it goes live on Dec. 1, it may well become the northernmost mining operation in the world.

The big idea? To remove the old oil boiler used by one of the town's largest buildings, replace it with an in-house bitcoin-centric data center and warm the edifice using the tremendous heat produced by the mining rigs.

More:

 
Nothing special, just an interview I thought interesting. It's a podcast, nothing to see, can listen in one tab, play around the forum in a different tab.


Arthur Hayes and the Lessons of Decentralization​

Premiered 20 hours ago CoinDesk Spotlight

BitMEX co-founder Arthur Hayes, who is now chief investment officer at Maelstrom, joins CoinDesk Spotlight to discuss the journey that led him to the crypto industry from his financial services career. Plus, the lessons of decentralization and "two truths and a lie" with Hayes.
This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.


28:51

Timestamps:
00:00 Cold Open
00:44 Intro
01:26 From Gold to Crypto
04:23 The Birth of BitMEX
08:25 The Perpetual Swap
16:28 Lessons From BitMEX
18:03 The Significance of Decentralization
22:39 What Pushes Arthur Hayes to Create Content
26:30 Two Truths and One Lie

Edit to add an interesting read:

 
Self-described Bitcoin development company MicroStrategy (MSTR) didn't add to its bitcoin (BTC) holdings since mid-September, but the firm announced an audacious plan to raise $42 billion of capital over the next three years in order to purchase more of the world's largest crypto.

Led by Executive Chairman Michael Saylor, the company's so-called "21/21 Plan" calls for $21 billion of equity raises and $21 billion of debt offerings over the next three years.

"As a Bitcoin Treasury Company, we plan to use the additional capital to buy more bitcoin as a treasury reserve asset in a manner that will allow us to achieve higher BTC Yield,” said Phong Le, president and CEO in the third quarter earnings press release.
...


Bitcoin's current market cap is $1.428T. $42B sounds like a lot, but it's just ~3% of the current market cap and equivalent to about two months of the current BTC ETF inflows:
...
Institutional investors are sparking hundreds of millions of dollars in net inflows to the US spot Bitcoin ETFs daily.

The latest data from sources, including UK-based investment firm Farside Investors, puts the tally for Oct. 30 alone at nearly $900 million — its second-largest ever.
...

https://www.msn.com/en-us/money/oth...bitcoin-etf-inflows-near-1b-daily/ar-AA1tfQEL
 

Bitcoin slips below $70,000 after notching 12% gain in October: CNBC Crypto World​

Nov 1, 2024 #CNBC #cnbctv

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Kevin Lehtiniitty of Borderless.xyz shares his outlook for the crypto market and the broader industry in 2025.


11.18

Chapters
00:00 - CNBC Crypto World, Nov 1, 2024
0:21 - Bitcoin slips below $70K
1:30 - Kevin Lehtiniitty of Borderless Labs
 
I am waiting for a pullback to the upper $50s before I go long. I won't short it at this level that's for sure.
 
The first UK pension fund is allocating 3% of its total assets – which are valued at around £50m (€59.5m) – following the advice of Cartwright, the pension specialist for defined benefit and hybrid schemes.

The first of its kind in the UK, the allocation took place in October after a rigorous training and due diligence process, Cartwright stated, without disclosing the name of the pension fund.
...

 
...
Mt. Gox transferred over 32,000 BTC, worth $2.2 billion at current prices, to unmarked wallet addresses data from Arkham shows. A majority of that stash, or nearly 30,400 BTC, was sent to “1FG2C…Rveoy” and 2,000 BTC was moved to “15gNR…a8Aok” after first being sent to a Mt. Gox cold wallet.

Such wallet transfers are usually a consolidation of holdings to new addresses before they are sent to crypto exchanges, where the bitcoin is sold on the open market.

Mt. Gox’s repayments are largely considered to add selling pressure to bitcoin (BTC) markets as early investors will receive assets at a much higher value than their entries before 2013, making them inclined to sell at least a part of holding, traders said.
...

 
Crypto markets are all green right now. Looks like crypto bros are expecting a Trump win...
 
Trump's Triumph Is Also Crypto's: Gensler, Regulatory Clouds Likely to Vanish

Former U.S. President Donald Trump will once again take the White House, needing only three more electoral votes from a state leaning heavily red, defeating Vice President Kamala Harris and auguring a more permissive regulatory environment for crypto in the world's largest economy.

Crypto has not been a major issue through this election cycle, though Trump, the Republican candidate for president for a third election in a row, did a great deal of outreach to the crypto industry, by speaking at a bitcoin conference, handing out burgers at a crypto bar and otherwise making statements appealing to the industry, including promising to fire Securities and Exchange Commission Chair Gary Gensler. Harris, the Democratic candidate, has on a handful of occasions shared some general comments about supporting the industry but did not delve deeply into her views.

More:

 
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Crypto is a rollercoaster. I'm sure there will be more opportunities for trading high volatility.
 


Not sure if serious, but if they actually do this, it will be a significant policy change for Russia and possibly open doors among other nations.
 
Crystal balls powered by crypto can be downright insane, but I'm seeing a lot of calls like this one post election:
Bitwise CIO Matt Hougan said:
...
“To be specific: I expect Bitcoin to approach $100k this year and $200k in 2025,” he said. “Other crypto assets (which previously faced more regulatory risk) may do even better. I’ve never been more bullish than I am right now.”
...

More:

Barring a global economic implosion, Crypto is going to explode next year.
 

Bitcoin gains 10% in a week after Trump victory and rate cuts: CNBC Crypto World​

Nov 8, 2024 #CNBC #cnbctv

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Johann Kerbrat of Robinhood Crypto discusses crypto trading activity on the platform after the election, and his expectations for regulation under a Trump administration.


11:20

Chapters
00:00 - CNBC Crypto World, Nov 8, 2024
0:25 - Bitcoin flat
1:18 - The headlines
2:59 - Johann Kerbrat of Robinhood Crypto
 
Bitcoin seems to be consolidating a bit under the 77k line, but many alts (Ethereum, Solana, Avalanche, etc.) are still pushing higher. Once Trump is inaugurated and throws the wrecking ball at the war on crypto, serious money is going to flow into the sector. If Sen. Lummis gets her Bitcoin reserve plan passed, bitcoin could go 10x and reach a market cap on par with the global gold market as other nations follow along. I really don't see how anyone can be aware of all the news today and not be thinking about ensuring their portfolio has some bitcoin/crypto exposure - it's going to be *the* growth industry of the next decade - more so than AI.
 
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