US President-elect Donald Trump has launched his cryptocurrency, which quickly soared in market capitalisation to several billion dollars.
His release of the meme coin, $Trump, comes as he prepares to take office on Monday as the 47th president of the US.
<h2 dir="ltr">CIC Digital LLC coordinates venture</h2>
According to Trump&rsquo;s website, the venture is co-ordinated by CIC Digital LLC - an affiliate of the Trump Organisation. The private company was responsible for selling Trump&rsquo;s shoes and fragrances in the past.&nbsp;
Also read | <a href="https://www.wionews.com/world/tiktok-suspends-app-within-united-states-8634093">TikTok suspends app within United States</a>
It is important to note that meme coins are often used to build the popularity of an internet trend. However, they lack any sort of intrinsic value and are touted as extremely volatile investments.
CIC Digital LLC and Fight Fight Fight LLC are two companies from Delaware that own 80 per cent of the tokens. It remains unclear exactly how much money the president-elect will make in the business venture.
<h2 dir="ltr">Trump boasts about the meme coin</h2>
"My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!" Trump wrote on his social media platform Truth Social as he announced the meme coin on Friday night.
Also read | <a href="https://www.wionews.com/world/donald-trumps-iconic-fist-pump-moment-captured-in-15-feet-giant-bronze-statue-allan-cottrill-ohio-artist-don-colossus-8634090">Trump's iconic fist pump moment captured in giant bronze statue</a>
Some 200m of the digital tokens have been issued and another 800m will be released in the next three years, the coin's website said.
"This Trump Meme celebrates a leader who doesn't back down, no matter the odds," the website said.
The website also comes with a disclaimer that the coin is &ldquo;not intended to be, or the subject of&rdquo; an investment opportunity or security. The website also mentioned that the coins are &ldquo;not political and have nothing to do with&rdquo; any political campaign, political office or government agency.
<h2 dir="ltr">Critics accuse Trump of cashing in on the presidency</h2>
Meanwhile, critics slammed Trump for introducing meme coins just days before he assumed office. &ldquo;Trump owning 80 per cent and timing launch hours before the inauguration is predatory and many will likely get hurt by it,&rdquo; Nick Tomaino, a crypto venture capitalist, said in a social media post.
Trump was previously skittish about cryptocurrency, but at a Bitcoin conference in Nashville last year he said America would be "the crypto capital of the planet" once he returned to Washington. His sons Erik and Donald Jr announced their crypto venture last year.
(With inputs from agencies)

World: Discover how US President-elect Donald Trump's new cryptocurrency has taken the market by storm, reaching a multi-billion dollar market cap in record time.

US President-elect Donald Trump has launched his cryptocurrency, which quickly soared in market capitalisation to several billion dollars. His release of the meme coin, $Trump, comes as he prepares to take office on Monday as the 47th president of the US. CIC Digital LLC coordinates venture According to Trump’s website, the venture is co-ordinated by CIC Digital LLC - an affiliate of the Trump Organisation. The private company was responsible for selling Trump’s shoes and fragrances in the past. Also read | TikTok suspends app within United States It is important to note that meme coins are often used to build the popularity of an internet trend. However, they lack any sort of intrinsic value and are touted as extremely volatile investments. CIC Digital LLC and Fight Fight Fight LLC are two companies from Delaware that own 80 per cent of the tokens. It remains unclear exactly how much money the president-elect will make in the business venture. Trump boasts about the meme coin "My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!" Trump wrote on his social media platform Truth Social as he announced the meme coin on Friday night. Also read | Trump's iconic fist pump moment captured in giant bronze statue Some 200m of the digital tokens have been issued and another 800m will be released in the next three years, the coin's website said. "This Trump Meme celebrates a leader who doesn't back down, no matter the odds," the website said. The website also comes with a disclaimer that the coin is “not intended to be, or the subject of” an investment opportunity or security. The website also mentioned that the coins are “not political and have nothing to do with” any political campaign, political office or government agency. Critics accuse Trump of cashing in on the presidency Meanwhile, critics slammed Trump for introducing meme coins just days before he assumed office. “Trump owning 80 per cent and timing launch hours before the inauguration is predatory and many will likely get hurt by it,” Nick Tomaino, a crypto venture capitalist, said in a social media post. Trump was previously skittish about cryptocurrency, but at a Bitcoin conference in Nashville last year he said America would be "the crypto capital of the planet" once he returned to Washington. His sons Erik and Donald Jr announced their crypto venture last year. (With inputs from agencies)

Trump launches his cryptocurrency meme coin, price soars overnight

Bitcoin (BTC) is celebrating its 16th anniversary this week.&nbsp;Bitcoin&rsquo;s first block, known as the &ldquo;Genesis Block,&rdquo; was mined on January 3, 2009, by its pseudonymous creator Satoshi Nakamoto. He introduced the first 50 BTCs into circulation. Since then, over 877,000 blocks have been mined.
However, the network's mining difficulty has reached a new all-time high of 109.78 trillion hashes.
The difficulty surge indicates that the computational effort required to mine Bitcoin has increased significantly. This ensures greater security for the network. Bitcoin&rsquo;s mining process, known as hashing, involves powerful machines processing data to add new blocks to the blockchain, a record of transactions.&nbsp; 
Also read: <a href="https://www.wionews.com/business-economy/feds-rate-cut-sparks-inflation-concerns-market-selloff-785158">Fed's rate cut sparks inflation concerns, market selloff</a>
<h2>Next halving event</h2>
With Bitcoin&rsquo;s next halving event in 2028, miners will also see their rewards for mining new blocks reduced by half. This deflationary mechanism ensures a controlled supply of Bitcoin, contributing to its scarcity and long-term value.&nbsp;
The rise in mining difficulty aligns with Bitcoin&rsquo;s ongoing evolution, contributing to the integrity and security of the cryptocurrency.&nbsp;
Also read: <a href="https://www.wionews.com/business-economy/north-korean-cyber-actors-were-behind-the-308-million-cryptocurrency-heist-says-us-and-japan-786407">North Korean cyber actors behind $308 million cryptocurrency heist, say US and Japan</a>
<h2 data-pm-slice="0 0 []">Price action</h2>
Bitcoin achieved a new all-time high (ATH) by surpassing the $100,000 mark in the second half of last year. On December 4, 2024, Bitcoin's price reached a peak of $103,619 by the end of the day, according to market data from various exchanges.

Business & Economy: Bitcoin marks its 16th anniversary with mining difficulty hitting a record high of 109.78 trillion hashes. The 2028 halving event will also reduce rewards.

Bitcoin (BTC) is celebrating its 16th anniversary this week. Bitcoin’s first block, known as the “Genesis Block,” was mined on January 3, 2009, by its pseudonymous creator Satoshi Nakamoto. He introduced the first 50 BTCs into circulation. Since then, over 877,000 blocks have been mined. However, the network's mining difficulty has reached a new all-time high of 109.78 trillion hashes. The difficulty surge indicates that the computational effort required to mine Bitcoin has increased significantly. This ensures greater security for the network. Bitcoin’s mining process, known as hashing, involves powerful machines processing data to add new blocks to the blockchain, a record of transactions. Also read: Fed's rate cut sparks inflation concerns, market selloff Next halving event With Bitcoin’s next halving event in 2028, miners will also see their rewards for mining new blocks reduced by half. This deflationary mechanism ensures a controlled supply of Bitcoin, contributing to its scarcity and long-term value. The rise in mining difficulty aligns with Bitcoin’s ongoing evolution, contributing to the integrity and security of the cryptocurrency. Also read: North Korean cyber actors behind $308 million cryptocurrency heist, say US and Japan Price action Bitcoin achieved a new all-time high (ATH) by surpassing the $100,000 mark in the second half of last year. On December 4, 2024, Bitcoin's price reached a peak of $103,619 by the end of the day, according to market data from various exchanges.

16 years of Bitcoin: Why the battle for mining just got harder

Crypto hacking reached alarming levels in 2024, with 2.2 billion dollars stolen across 303 incidents. This marks a 21 percent year-over-year increase.

2024 Crypto Theft Hits $2.2 Bn, Marking A 21% Y-O-Y Surge

Crypto hacking reached alarming levels in 2024, with 2.2 billion dollars stolen across 303 incidents. This marks a 21 percent year-over-year increase.  

Washington, United States
The US Federal Bureau of Investigation (FBI) and Japan’s National Police Agency have said that a North Korean hacking group, TraderTraitor, stole cryptocurrency worth $308 million from Japan-based exchange DMM Bitcoin earlier this year in May.
TraderTraitor, known to be a part of Lazarus Group, targets multiple employees from the same organisation at the same time. The infamous Lazarus Group is allegedly linked to Pyongyang authorities and has been accused of hacking into Sony Pictures for mocking North Korean leader Kim Jong Un in the film The Interview.
Also read | <a href="https://www.wionews.com/world/luxury-brands-to-consider-accepting-crypto-payments-as-bitcoin-soars-785112">Luxury brands to consider accepting crypto payments as bitcoin soars</a>
“The theft of cryptocurrency worth $308 million US dollars from the Japan-based cryptocurrency company DMM by North Korean cyber actors,” the FBI stated in a statement on Monday (Dec 23).
The North Korean cyber actors facilitated a “targeted social engineering” operation in which they pretended to be LinkedIn recruiters and contacted an employee at a Japan-based enterprise cryptocurrency wallet software company Ginco in late March.
They then sent a malicious code under the guise of a pre-employment test on a GitHub page, which allowed hackers to gain access to their system and impersonate the employee.
Also read | <a href="https://www.wionews.com/business-economy/honda-nissan-merger-what-you-need-to-know-786402">Honda-Nissan merger: What you need to know</a>
In late May, the hackers manipulated a legitimate transaction request by a DMM employee. According to the FBI, the attack led to losses of 4,502.9 BTC, worth $308 million, which were transferred to TraderTraitor-controlled wallets.
“The FBI, National Police Agency of Japan, and other U.S. government and international partners will continue to expose and combat North Korea’s use of illicit activities—including cybercrime and cryptocurrency theft—to generate revenue for the regime,” the FBI added in its statement. 
According to a 2020 US military report, North Korea’s cyber-warfare agency, Bureau 121, has over 6,000 members operating from several countries. The program can be tracked back to at least the mid-1990s.
(With inputs from agencies)

The North Korean cyber actors facilitated a “targeted social engineering” operation in which they pretended to be LinkedIn recruiters and contacted an employee at a Japan-based enterprise cryptocurrency wallet software company Ginco in late March



Washington, United States The US Federal Bureau of Investigation (FBI) and Japan’s National Police Agency have said that a North Korean hacking group, TraderTraitor, stole cryptocurrency worth $308 million from Japan-based exchange DMM Bitcoin earlier this year in May. TraderTraitor, known to be a part of Lazarus Group, targets multiple employees from the same organisation at the same time. The infamous Lazarus Group is allegedly linked to Pyongyang authorities and has been accused of hacking into Sony Pictures for mocking North Korean leader Kim Jong Un in the film The Interview. Also read | Luxury brands to consider accepting crypto payments as bitcoin soars “The theft of cryptocurrency worth $308 million US dollars from the Japan-based cryptocurrency company DMM by North Korean cyber actors,” the FBI stated in a statement on Monday (Dec 23). The North Korean cyber actors facilitated a “targeted social engineering” operation in which they pretended to be LinkedIn recruiters and contacted an employee at a Japan-based enterprise cryptocurrency wallet software company Ginco in late March. They then sent a malicious code under the guise of a pre-employment test on a GitHub page, which allowed hackers to gain access to their system and impersonate the employee. Also read | Honda-Nissan merger: What you need to know In late May, the hackers manipulated a legitimate transaction request by a DMM employee. According to the FBI, the attack led to losses of 4,502.9 BTC, worth $308 million, which were transferred to TraderTraitor-controlled wallets. “The FBI, National Police Agency of Japan, and other U.S. government and international partners will continue to expose and combat North Korea’s use of illicit activities—including cybercrime and cryptocurrency theft—to generate revenue for the regime,” the FBI added in its statement. According to a 2020 US military report, North Korea’s cyber-warfare agency, Bureau 121, has over 6,000 members operating from several countries. The program can be tracked back to at least the mid-1990s. (With inputs from agencies)

North Korean cyber actors behind $308 million cryptocurrency heist, say US and Japan

The US&nbsp;Federal Bureau of Investigation (FBI) and Japan’s National Police Agency have said that a North Korean hacking group, TraderTraitor, stole&nbsp;cryptocurrency worth $308 million from Japan-based exchange DMM Bitcoin earlier this year in May.

TraderTraitor, known to be a part of Lazarus Group, targets multiple employees from the same organisation at the same time. The infamous Lazarus Group is allegedly linked to Pyongyang authorities and has been accused of hacking into Sony Pictures for mocking North Korean leader Kim Jong Un in the film The Interview.

Also read |&nbsp;<a href="https://www.wionews.com/world/luxury-brands-to-consider-accepting-crypto-payments-as-bitcoin-soars-785112">Luxury brands to consider accepting crypto payments as bitcoin soars</a>

“The theft of cryptocurrency worth $308 million US dollars from the Japan-based cryptocurrency company DMM by North Korean cyber actors,” the FBI stated in a statement on Monday (Dec 23).

The North Korean cyber actors facilitated a “targeted social engineering” operation in which they pretended to be LinkedIn recruiters and contacted an employee at a Japan-based enterprise cryptocurrency wallet software company Ginco in late March.

They then sent a malicious code under the guise of a pre-employment test on a GitHub page, which allowed hackers to gain access to their system and impersonate the employee.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/honda-nissan-merger-what-you-need-to-know-786402">Honda-Nissan merger: What you need to know</a>

In late May, the hackers manipulated a legitimate transaction request by a DMM employee. According to the FBI, the attack led to losses of 4,502.9 BTC, worth $308 million, which were transferred to TraderTraitor-controlled wallets.

“The FBI, National Police Agency of Japan, and other U.S. government and international partners will continue to expose and combat North Korea’s use of illicit activities—including cybercrime and cryptocurrency theft—to generate revenue for the regime,” the FBI added in its statement.&nbsp;

According to a 2020 US military report, North Korea’s cyber-warfare agency, Bureau 121, has over 6,000 members operating from several countries. The program can be tracked back to at least the mid-1990s.

(With inputs from agencies)

The US Federal Bureau of Investigation (FBI) and Japan’s National Police Agency have said that a North Korean hacking group, TraderTraitor, stole cryptocurrency worth $308 million from Japan-based exchange DMM Bitcoin earlier this year in May.

The US Federal Bureau of Investigation (FBI) and Japan’s National Police Agency have said that a North Korean hacking group, TraderTraitor, stole cryptocurrency worth $308 million from Japan-based exchange DMM Bitcoin earlier this year in May. TraderTraitor, known to be a part of Lazarus Group, targets multiple employees from the same organisation at the same time. The infamous Lazarus Group is allegedly linked to Pyongyang authorities and has been accused of hacking into Sony Pictures for mocking North Korean leader Kim Jong Un in the film The Interview. Also read | Luxury brands to consider accepting crypto payments as bitcoin soars “The theft of cryptocurrency worth $308 million US dollars from the Japan-based cryptocurrency company DMM by North Korean cyber actors,” the FBI stated in a statement on Monday (Dec 23). The North Korean cyber actors facilitated a “targeted social engineering” operation in which they pretended to be LinkedIn recruiters and contacted an employee at a Japan-based enterprise cryptocurrency wallet software company Ginco in late March. They then sent a malicious code under the guise of a pre-employment test on a GitHub page, which allowed hackers to gain access to their system and impersonate the employee. Also read | Honda-Nissan merger: What you need to know In late May, the hackers manipulated a legitimate transaction request by a DMM employee. According to the FBI, the attack led to losses of 4,502.9 BTC, worth $308 million, which were transferred to TraderTraitor-controlled wallets. “The FBI, National Police Agency of Japan, and other U.S. government and international partners will continue to expose and combat North Korea’s use of illicit activities—including cybercrime and cryptocurrency theft—to generate revenue for the regime,” the FBI added in its statement. According to a 2020 US military report, North Korea’s cyber-warfare agency, Bureau 121, has over 6,000 members operating from several countries. The program can be tracked back to at least the mid-1990s. (With inputs from agencies)

Nigeria's Economic and financial crimes commission (EFCC) busted a romance-crypto fraud hub in Lagos last week, targeting people in North America and Europe. Watch in for more details!



Nigeria Busts Crypto Romance-Fraud Hub: 792 Arrested, Including 148 Chinese & 40 Filipino Nationals

Nigeria's Economic and financial crimes commission (EFCC) busted a romance-crypto fraud hub in Lagos last week, targeting people in North America and Europe. Watch in for more details!

Investors are putting their money on ether, the second-largest cryptocurrency, to break its own milestone set three years ago. This comes as ether is taking the spotlight away from a record-breaking rally in bitcoin, which has topped $100,000. Watch in for more details!

Ether ETFs See A Record Daily Inflow Of $428 Million

Bitcoin soars past a new record of 100,000 dollars for the first time. This comes as traders warmed up to the idea of easier rules, spurred by president-elect trump's pick of a crypto advocate to lead the U.S. Securities regulator, the sec. Watch in for more details!

Bitcoin Climbs Past $100,000 For The First Time

Alex Mashinsky, the founder of the defunct cryptocurrency lender Celsius Network, pleaded guilty on Tuesday to deceiving investors about the company’s financial health. Prosecutors alleged that Mashinsky misrepresented the firm's stability and diverted customer funds to artificially inflate the value of Celsius' proprietary digital token. Watch to know more!

Celsius Founder Alex Mashinsky Pleads Guilty To US Fraud Charges | World News | WION

Fueled by anticipation that president-elect Donald Trump's backing for crypto signals a boom as the U.S. Pivots to friendlier policies instead of a crackdown, bitcoin neared the historic 100,000 dollar threshold. Watch in for more details!

Bitcoin Sets Another Record Amid Growing Embrace Of Crypto

A Bloomberg report shows that U.S. Securities and Exchange Commission Chair Gary Gensler intends to resign on January 20th. This comes as he faces strong opposition from wall street and the cryptocurrency industry over his aggressive agenda. Watch in for more details!

Will New Sec Head Under Trump Be Pro-crypto?

The U.S. Election day is almost here, and investors from stocks to cryptos are bracing for extreme volatility. Investors are expected to watch the vote margins and tweak their bets through the election night.

Investors From Stocks To Crypto Brace For U.S. Election Volatility

Who is the Bitcoin creator who goes by the pseudonym 'Satoshi Nakamoto'? A new documentary from HBO is suggesting that the founder of the top cryptocurrency is the software engineer Peter Todd. But Todd has denied he was the inventor of one of the first cryptocurrencies that hit the market over a decade ago.

The purported revelation and its denial add one more layer to the enduring mystery of the identity of Satoshi Nakamoto. Several people have been identified as the creator, with some even going to court to make the claim.

Watch: Bitcoin enters its sweet sixteen

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/bitcoin-enters-its-sweet-sixteen-654175/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

The HBO documentary Money Electric: The Bitcoin Mystery which aired on Tuesday night (Oct 8) in the US features a series of interviews with coders and cryptographers involved in the early development of Bitcoin, such as Blockstream CEO Adam Back.&nbsp;

But for many in the crypto community, director Cullen Hoback did not give any solid proof to back the claim regarding Todd.

Todd himself said it is ironic that a director who is also known for a documentary on the conspiracy theory group QAnon "has resorted to QAnon style coincidence-based conspiracy thinking here too".

As the buzz around the documentary built up, Todd simply wrote&nbsp;on his X handle,&nbsp;"I'm not Satoshi."

Todd was replying to a post by BitMex Research that asked him to come forward and make a public statement.​

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
I'm not Satoshi.
— Peter Todd (@peterktodd) <a href="https://twitter.com/peterktodd/status/1843789750983110697?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Todd was a Bitcoin core developer. The theory that he is Satoshi was made in the documentary from similarities in the writing styles of Satoshi and Todd in Bitcoin forums.

Todd's work with Hashcash, a crypto-related tech firm, was also cited as evidence.

The crypto community was, however, dismissive about the documentary, terming it speculative. They accused it of&nbsp;relying on circumstantial evidence, saying it had confirmation bias similar to a Newsweek magazine article in 2014 that claimed to have identified Satoshi, only to be debunked.

<a href="https://www.wionews.com/business-economy/wikileaks-244-million-bitcoin-war-chest-735297">Also read: WikiLeaks' $244 million Bitcoin 'war chest'</a>

Crypto monitoring site Decrypt quoted Samson Mow, the CEO of Bitcoin tech firm JAN3 as saying that the director "probably has a case for it,” &nbsp;but added, “I did say on record in the documentary that it’s probably not Peter.”

Much of the focus of the documentary to 'nail' Todd as the inventor of Bitcoin is from a specific forum post, where Todd, in reply to Satoshi, appears to continue the stream of thought of Satoshi. It looked as if the same person was using multiple accounts, according to the documentary.

<h2>Who is Satoshi Nakamoto? The many people associated with the mysterious Bitcoin creator</h2>

While the general consensus is that one or a group of people may have used the pseudonym, Satoshi Nakamoto, it is yet to be conclusively proven who the person behind the Japanese-sounding name is/are.

Several names have been cited in the past, with one person even going to court to prove he is Satoshi.

Hal Finney, a cryptography pioneer, was one such person, as he was the first to use the software behind Bitcoin.

Finneya's neighbour Dorian Prentice Satoshi Nakamoto, a Japanese-American man living in California, was long-speculated to be the mystery creator of the cryptocurrency, most firmly in a 2014 Newsweek article. The article was widely discussed but eventually, the man himself rejected any connection to Bitcoin.

Nick Szabo, a decentralised currency enthusiast was speculated to be Satoshi, partly based on the fact that he had published a paper on a precursor to Bitcoin that was called 'bit gold'.

Craig Steven Wright, an Australian academic, went to court to prove that he was Satoshi, even suing for libel those who rejected his claims. In March this year, his claim was dismissed by a British court.

<a href="https://www.wionews.com/world/computer-scientist-craig-wright-is-not-the-inventor-of-bitcoin-uk-judge-rules-700140">Also read: Computer scientist Craig Wright is not the inventor of Bitcoin, UK judge rules</a> 
 
Finnish sociologist Vili Lehdonvirta and cryptography student Michael Clear were at one point named Satoshi, a claim denied by both of them.

Based on the dates and similarity in the phrase 'computationally impractical to reverse' used in a patent filing and a white paper on Bitcoin, three people - Neal King, Vladimir Oksman and Charles Bry- were identified as possible candidates for Satoshi. They also rejected the claim.

<h2>We will never know who is Satoshi because...</h2>

Satoshi Nakamoto also holds some of the original Bitcoin. This means that there are financial, and possibly taxation, implications for the person or persons to reveal their identity. It could even attract criminals to them.

As per an estimate made in 2021, Satoshi Nakamoto may be owning up to 1 million Bitcoin. At the going rate of the time (which was $68,000), that would add up to $73 billion, making him/them the 15th richest person/s in the world in 2021.&nbsp;

Bitcoin, in spite of its volatility, is still going strong. At the time of writing this, it's valued at $63,126.&nbsp;

As you can see, being Satoshi Nakamoto is a risky business. 
 
(With inputs from agencies)

Who is the Bitcoin creator who goes by the pseudonym 'Satoshi Nakamoto'? A new documentary from HBO is suggesting that the founder of the top cryptocurrency is the software engineer Peter Todd.

Who is the Bitcoin creator who goes by the pseudonym 'Satoshi Nakamoto'? A new documentary from HBO is suggesting that the founder of the top cryptocurrency is the software engineer Peter Todd. But Todd has denied he was the inventor of one of the first cryptocurrencies that hit the market over a decade ago. The purported revelation and its denial add one more layer to the enduring mystery of the identity of Satoshi Nakamoto. Several people have been identified as the creator, with some even going to court to make the claim. Watch: Bitcoin enters its sweet sixteen × The HBO documentary Money Electric: The Bitcoin Mystery which aired on Tuesday night (Oct 8) in the US features a series of interviews with coders and cryptographers involved in the early development of Bitcoin, such as Blockstream CEO Adam Back. But for many in the crypto community, director Cullen Hoback did not give any solid proof to back the claim regarding Todd. Todd himself said it is ironic that a director who is also known for a documentary on the conspiracy theory group QAnon "has resorted to QAnon style coincidence-based conspiracy thinking here too". As the buzz around the documentary built up, Todd simply wrote on his X handle, "I'm not Satoshi." Todd was replying to a post by BitMex Research that asked him to come forward and make a public statement. I'm not Satoshi. — Peter Todd (@peterktodd) October 8, 2024 × Todd was a Bitcoin core developer. The theory that he is Satoshi was made in the documentary from similarities in the writing styles of Satoshi and Todd in Bitcoin forums. Todd's work with Hashcash, a crypto-related tech firm, was also cited as evidence. The crypto community was, however, dismissive about the documentary, terming it speculative. They accused it of relying on circumstantial evidence, saying it had confirmation bias similar to a Newsweek magazine article in 2014 that claimed to have identified Satoshi, only to be debunked. Also read: WikiLeaks' $244 million Bitcoin 'war chest' Crypto monitoring site Decrypt quoted Samson Mow, the CEO of Bitcoin tech firm JAN3 as saying that the director "probably has a case for it,” but added, “I did say on record in the documentary that it’s probably not Peter.” Much of the focus of the documentary to 'nail' Todd as the inventor of Bitcoin is from a specific forum post, where Todd, in reply to Satoshi, appears to continue the stream of thought of Satoshi. It looked as if the same person was using multiple accounts, according to the documentary. Who is Satoshi Nakamoto? The many people associated with the mysterious Bitcoin creator While the general consensus is that one or a group of people may have used the pseudonym, Satoshi Nakamoto, it is yet to be conclusively proven who the person behind the Japanese-sounding name is/are. Several names have been cited in the past, with one person even going to court to prove he is Satoshi. Hal Finney, a cryptography pioneer, was one such person, as he was the first to use the software behind Bitcoin. Finneya's neighbour Dorian Prentice Satoshi Nakamoto, a Japanese-American man living in California, was long-speculated to be the mystery creator of the cryptocurrency, most firmly in a 2014 Newsweek article. The article was widely discussed but eventually, the man himself rejected any connection to Bitcoin. Nick Szabo, a decentralised currency enthusiast was speculated to be Satoshi, partly based on the fact that he had published a paper on a precursor to Bitcoin that was called 'bit gold'. Craig Steven Wright, an Australian academic, went to court to prove that he was Satoshi, even suing for libel those who rejected his claims. In March this year, his claim was dismissed by a British court. Also read: Computer scientist Craig Wright is not the inventor of Bitcoin, UK judge rules Finnish sociologist Vili Lehdonvirta and cryptography student Michael Clear were at one point named Satoshi, a claim denied by both of them. Based on the dates and similarity in the phrase 'computationally impractical to reverse' used in a patent filing and a white paper on Bitcoin, three people - Neal King, Vladimir Oksman and Charles Bry- were identified as possible candidates for Satoshi. They also rejected the claim. We will never know who is Satoshi because... Satoshi Nakamoto also holds some of the original Bitcoin. This means that there are financial, and possibly taxation, implications for the person or persons to reveal their identity. It could even attract criminals to them. As per an estimate made in 2021, Satoshi Nakamoto may be owning up to 1 million Bitcoin. At the going rate of the time (which was $68,000), that would add up to $73 billion, making him/them the 15th richest person/s in the world in 2021. Bitcoin, in spite of its volatility, is still going strong. At the time of writing this, it's valued at $63,126. As you can see, being Satoshi Nakamoto is a risky business. (With inputs from agencies)

Bitcoin creator Satoshi Nakamoto is Peter Todd, says HBO doc, he denies it. Truth may never come out as...

Moo Deng, the baby hippo in Thailand became a global viral sensation in the past few weeks, and some people are minting money from the memecoin named after the adorable animal who's winning hearts by just being herself.

Moo Deng became internet-famous after videos of her running around, playing, eating, sleeping, and being bathed and slapped&nbsp;by zookeepers went viral.&nbsp;

<a href="https://www.wionews.com/trending/watch-viral-baby-pygmy-hippo-who-has-inspired-make-up-looks-merchandise-and-more-758656">Also read: Watch: Viral baby pygmy hippo who has inspired make-up looks, merchandise and more</a>

As the frenzy over Moo Deng intensified with her becoming a meme, a memecoin was launched on 11 September on Solana, a decentralised blockchain platform.

The value of Moo Deng Token soared nearly 1400 per cent&nbsp;a week and by last week, it was at a market capitalisation of&nbsp;$300 million, according to cryptocurrency observers.

In a matter of 15 days, a&nbsp;$800 investment in Moo Deng grew to $3.5 million, according to data from Arkham.

Watch: Moo Deng: Two-month-old pint-sized Hippo goes viral for cuteness 
&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/moo-deng-two-month-old-pint-sized-hippo-goes-viral-for-cuteness-759252/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

There are now memecoins for Moo Deng's mother Jonah as well as siblings&nbsp;Moo Toon and Moo Waan.

An unofficial Twitter fan page for Moo Deng has amassed nearly 50,000 followers, further fueling interest in the token, wrote Crptobriefing.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-media-max-width="560">
unbothered. moisturized. happy. in my lane. focused. flourishing<a href="https://twitter.com/hashtag/moodeng?src=hash&amp;ref_src=twsrc%5Etfw">#moodeng</a> <a href="https://t.co/W6IegMFO5A">pic.twitter.com/W6IegMFO5A</a>
— kristina🦒 (@kristinakovv) <a href="https://twitter.com/kristinakovv/status/1835798979717874027?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

 
&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
So crazy buying of <a href="https://twitter.com/hashtag/MOODENG?src=hash&amp;ref_src=twsrc%5Etfw">#MOODENG</a>! 
 
The whale withdrew 2,000 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($311K) from <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw">#OKX</a> to buy $MOODENG again! 
 
So far, the whale has spent 27,848 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($4.34M) to buy 17.73M $MOODENG at $0.245, becoming the second-largest holder of $MOODENG.<a href="https://t.co/MNpTOqbZ6z">https://t.co/MNpTOqbZ6z</a> <a href="https://t.co/r0BRHdL6Ew">pic.twitter.com/r0BRHdL6Ew</a>
— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1840285973701374143?ref_src=twsrc%5Etfw">September 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

<h2>Moo Deng the baby hippo: What you need to know</h2>

Moo Deng was born in July 2024 in Thailand's Khao Kheow Open Zoo in Si Racha, Chonburi province.

She is a&nbsp;pygmy hippopotamus, an endangered species from West Africa.

There are only 2,000 pygmy hippos in the wild.

After her videos started going viral, big companies also joined the frenzy, with Microsoft,&nbsp;DreamWorks, and Universal Pictures creating and sharing memes on social media around her image. 
&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
ctrl + alt + Moo Deng <a href="https://t.co/GpB4J7Th3u">pic.twitter.com/GpB4J7Th3u</a>
— Windows (@Windows) <a href="https://twitter.com/Windows/status/1837537304094650458?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Even&nbsp;German football club Bayern Munich joined the action, sharing memes of Moo Deng 'reactions' to their UEFA League performance.

(With inputs from agencies)

Moo Deng, the baby hippo in Thailand became a global viral sensation in the past few weeks, and some people are minting money from the memecoin named after the adorable animal who's winning hearts by just being herself.

Moo Deng, the baby hippo in Thailand became a global viral sensation in the past few weeks, and some people are minting money from the memecoin named after the adorable animal who's winning hearts by just being herself. Moo Deng became internet-famous after videos of her running around, playing, eating, sleeping, and being bathed and slapped by zookeepers went viral. Also read: Watch: Viral baby pygmy hippo who has inspired make-up looks, merchandise and more As the frenzy over Moo Deng intensified with her becoming a meme, a memecoin was launched on 11 September on Solana, a decentralised blockchain platform. The value of Moo Deng Token soared nearly 1400 per cent a week and by last week, it was at a market capitalisation of $300 million, according to cryptocurrency observers. In a matter of 15 days, a $800 investment in Moo Deng grew to $3.5 million, according to data from Arkham. Watch: Moo Deng: Two-month-old pint-sized Hippo goes viral for cuteness × There are now memecoins for Moo Deng's mother Jonah as well as siblings Moo Toon and Moo Waan. An unofficial Twitter fan page for Moo Deng has amassed nearly 50,000 followers, further fueling interest in the token, wrote Crptobriefing. unbothered. moisturized. happy. in my lane. focused. flourishing#moodeng pic.twitter.com/W6IegMFO5A — kristina🦒 (@kristinakovv) September 16, 2024 × So crazy buying of #MOODENG! The whale withdrew 2,000 $SOL($311K) from #OKX to buy $MOODENG again! So far, the whale has spent 27,848 $SOL($4.34M) to buy 17.73M $MOODENG at $0.245, becoming the second-largest holder of $MOODENG.https://t.co/MNpTOqbZ6z pic.twitter.com/r0BRHdL6Ew — Lookonchain (@lookonchain) September 29, 2024 × Moo Deng the baby hippo: What you need to know Moo Deng was born in July 2024 in Thailand's Khao Kheow Open Zoo in Si Racha, Chonburi province. She is a pygmy hippopotamus, an endangered species from West Africa. There are only 2,000 pygmy hippos in the wild. After her videos started going viral, big companies also joined the frenzy, with Microsoft, DreamWorks, and Universal Pictures creating and sharing memes on social media around her image. ctrl + alt + Moo Deng pic.twitter.com/GpB4J7Th3u — Windows (@Windows) September 21, 2024 × Even German football club Bayern Munich joined the action, sharing memes of Moo Deng 'reactions' to their UEFA League performance. (With inputs from agencies)

Moo Deng the baby hippo is making some people millions in crypto: It's the 'Mooney' honey

Despite China’s 2021 ban on Cryptocurrencies, the country continues to dominate the global Bitcoin mining industry.

China’s Bitcoin Mining Dominance Persists

An official OpenAI account on X (formerly Twitter) was compromised on Monday, leading to the dissemination of a cryptocurrency scam. Watch in for more details!

OpenAI X account got hacked by crypto scammers

Providing custody of assets is boring but an essential task in the traditional investing industry. Ensuring the security of customers' stock and bond holdings is an easy task. However, the almost $2 trillion crypto market is rife with activity, and custody is far from dull.

Is guarding crypto a lucrative business?

India has once again solidified its position as the global leader in cryptocurrency adoption, according to a new report by Chainalysis. Despite facing stringent regulations and hefty trading taxes, Indian investors have remained undeterred in their embrace of digital assets. This marks the second consecutive year that India has topped the global crypto adoption index.

India tops global crypto adoption for second year

Beyond the allure of cryptocurrencies, another category in the blockchain space is making waves—one that's grounded in real-world value and tangible assets. This is where Real World Assets (RWAs) step in, offering a new approach that blends the best of both traditional finance and blockchain innovation.

Beyond the allure of cryptocurrencies, another category in the blockchain space is making waves—one that's grounded in real-world value and tangible assets. This is where Real World Assets (RWAs) step in, offering a new approach that blends the best of both traditional finance and blockchain innovation. It has been arguably one of the hottest trends in the blockchain world, so it is even outperforming traditional crypto in many ways. Let’s explore why RWAs are capturing attention and reshaping the financial world. What are Tokenized RWAs? Simply put, tokenized RWAs represent digital ownership of physical assets on a blockchain. These assets can range from real estate and commodities to art and financial instruments like stocks and bonds. By using blockchain, tokenized RWAs bring more transparency, lower costs, and greater access to markets that were once hard to reach. They also offer more stability than many digital assets, making them attractive to a broader range of investors. Driving forces behind RWAs Popularity Recent data shows that tokenized RWAs are doing better than cryptocurrencies in terms of market performance and attracting more interest from investors. For example, a bundle of RWAs tracked by Security Token Market increased by 13.73 per cent, while the CoinDesk 20 Index, which includes top cryptos, dropped by 11.74 per cent during the same time. This clear difference makes you wonder: What's causing the shift towards tokenized RWAs? Let us analyze here: Stability A key reason why tokenized RWAs are gaining popularity is the stability they provide. Unlike digital assets, tokenized RWAs are tied to real-world value, offering a sense of security and predictability that's often lacking in the unpredictable crypto market. For example, a tokenized real estate fund allows investors to tap into the potential growth of the property market while also benefiting from blockchain’s efficiency. This blend of traditional asset stability and blockchain technology is especially attractive to cautious investors and institutions interested in exploring blockchain. Regulatory Clarity As blockchain technology evolves, following regulations has become crucial for attracting institutional investors. Unlike many cryptocurrencies, RWAs are linked to traditional assets and operate within established legal frameworks, giving them a more straightforward regulatory path. This clarity is drawing in big players. Take BlackRock, for example—they’ve launched the USD Institutional Digital Liquidity Fund ($BUIDL), showing how major financial institutions are using tokenized assets to connect traditional finance with blockchain technology. Cost Efficiency Another reason for the rise of tokenized RWAs is the substantial cost savings and operational efficiencies they offer. By tokenizing real-world assets, companies are streamlining processes and cutting expenses. For example, Broadridge, a financial tech company, saved $1 million for every 100,000 repo transactions by using tokenized assets. Similarly, Figure, a blockchain firm, has tokenized over $7 billion in Home Equity Lines of Credit (HELOCs), reducing costs by 150 basis points. These efficiencies benefit both issuers and investors, with lower costs and the potential for higher returns, making RWAs an attractive choice across the board. Portfolio Diversification and Broader Access Tokenized RWAs are also driving growth by opening new avenues for portfolio diversification. They make it easier for investors, especially retail ones, to access asset classes that were once out of reach. Whether it's fractional ownership in high-value real estate or tokenized shares in private equity funds, RWAs are breaking down barriers and democratizing investment opportunities across various markets. Also read | The tokenization era: Expanding investment horizons in real-world assets Improved Utility Another factor driving the growth of tokenized RWAs is their increased utility. These tokens aren’t just digitized versions of assets—they offer new functionality, such as being used as collateral in decentralized finance (DeFi). For instance, BlackRock's $BUIDL token is being used as collateral on FalconX, a prime brokerage platform. This shows how RWAs can go beyond passive investments. It allows investors to secure loans and back derivative positions, making them more versatile in the financial world. Understanding the Difference between RWAs and Traditional Assets While Real World Assets represent traditional assets, their tokenization on blockchain platforms offers several benefits compared to their conventional counterparts: Enhanced Liquidity Tokenization can increase the liquidity of typically illiquid assets, such as real estate or fine art, by enabling fractional ownership and facilitating easier trading. Programmable Features Smart contracts enable automated functions like dividend distributions, voting rights, and other features that simplify asset management. Transparency The data stored on blockchain is immutable which provides a clear, auditable history of ownership and transactions. 24/7 Markets Unlike traditional markets with set trading hours, tokenized assets can be bought and sold at any time on blockchain platforms. Also read | A simple guide to Utility Tokens, Security Tokens, and NFTs Worldwide Accessibility Tokenized assets can be accessed by investors globally, removing geographical restrictions on investment opportunities. How Do RWAs Compare to Cryptocurrencies? As tokenized RWAs gain popularity, it's important to recognize that they have a different role compared to cryptocurrencies. While cryptocurrencies often aim to be alternative currencies or platforms for decentralized applications, RWAs use blockchain technology to enhance traditional asset classes. The key difference is in the backing. RWAs are supported by tangible assets with real-world value, whereas many cryptocurrencies rely on factors like network effects, utility, or speculation. This makes RWAs generally less volatile and more attractive to conservative investors and institutions. That said, RWAs aren't necessarily "better" than cryptocurrencies. Both serve unique purposes and appeal to different risk profiles and investment strategies. What’s Next for Tokenized RWAs? As the tokenized RWA market continues to grow, we can expect several key developments. More institutions are likely to follow BlackRock's lead, driving increased adoption. Regulatory frameworks will evolve to better accommodate tokenized assets and provide clearer guidelines. RWAs will also become more integrated into decentralized finance (DeFi), leading to the development of new financial products and services. Additionally, infrastructure improvements will make the issuance, trading, and management of these assets more efficient. RWAs: Complementing the Blockchain Space The rise of tokenized RWAs doesn't replace traditional cryptocurrencies but adds to the blockchain ecosystem, appealing to a wider range of investors. By bringing the stability of real-world assets to blockchain, tokenized RWAs bridge conventional finance and digital assets. For investors, tokenized RWAs offer the potential for stable returns with the efficiency of blockchain. As the market evolves, both cryptocurrencies and tokenized RWAs will likely coexist, each playing complementary roles in the future of finance.

Beyond cryptocurrency: Are tokenized RWAs redefining blockchain's future

We look at Bitcoin's surge to the highest since mid-June after former President Donald Trump expanded his pro-crypto agenda. Expectations of Federal Reserve's rate cuts also triggered cryptos higher.

Trump's Crypto agenda boosts Bitcoin bets

Former President Donald Trump on Saturday slammed Vice President Kamala Harris over the Biden administration’s approach to cryptocurrency regulation and announced a sweeping set of industry-friendly policies, as he sought to win over the bitcoin faithful.

US elections: Trump vows to make US 'Crypto Capital'

Republican presidential candidate Donald Trump on Saturday (Jul&nbsp;27) declared that the US must dominate the cryptocurrency sector to prevent China from taking the lead.

In his latest effort to court crypto advocates ahead of the November 5 presidential election, Trump at the Bitcoin 2024 convention in Nashville said,&nbsp;"If we don't embrace crypto and bitcoin technology, China will, other countries will."

Trump, who once dismissed bitcoin as a "scam," positioned himself as the pro-cryptocurrency candidate and said,&nbsp;"They'll dominate, and we cannot let China dominate. They are making too much progress as it is."

Also read |&nbsp;<a href="https://www.wionews.com/world/trump-vs-harris-from-evil-to-just-plain-weird-the-republican-vs-democrat-war-of-words-heat-up-744861">Trump vs Harris: From 'evil' to 'just plain weird' the Republican vs Democrat war of words heat up</a>

He promised to make the US the world's leader in cryptocurrency, with more favourable regulations compared to likely Democratic nominee Vice President Kamala Harris.

<h2>China, US and cryptocurrency</h2>

Trump highlighted the necessity for the US to establish a stronger foothold in the cryptocurrency sector.&nbsp;He proposed creating a crypto presidential advisory council and a national "stockpile" of bitcoin using cryptocurrency currently held by the US government, mostly seized in law enforcement actions.

"Never sell your bitcoin," Trump urged. "If I am elected, it will be the policy of my administration to keep 100 per cent of all the bitcoin the US government currently holds or acquires into the future."

Watch what he said here:

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
PRESIDENT TRUMP: Today, I am laying out my plan to ensure that the United States will be the Crypto Capital of the planet and the Bitcoin Superpower of the world. 
 
If crypto is going to define the future, I want it to be “MINED,” “MINTED,” and MADE IN THE USA. And if Bitcoin is… <a href="https://t.co/fVn24KLfiD">pic.twitter.com/fVn24KLfiD</a>
— Trump War Room (@TrumpWarRoom) <a href="https://twitter.com/TrumpWarRoom/status/1817294096177979466?ref_src=twsrc%5Etfw">July 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Trump's advocacy for expanded bitcoin mining by US firms marks a significant shift from his 2021 stance, when he labelled cryptocurrency a "scam."&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/trump-tells-christians-they-wouldnt-have-to-vote-again-if-he-is-elected-watch-744805">Trump tells Christians they 'wouldn't have to vote again' if he wins 2024 presidential election - WATCH</a>

He also reiterated his intention to commute the sentence of Ross Ulbricht, creator of the Silk Road website, who is serving a life sentence for facilitating illegal trades. This announcement was met with applause and chants of "Free Ross" from the audience.

<h2>Global concerns about crypto</h2>

Global concerns about privately operated digital currencies include potential risks to financial systems, promotion of financial crime, and harm to investors.&nbsp;

While Trump's stance is likely to appeal to a growing political force of cryptocurrency use&nbsp;this election cycle, it is unclear how many would prioritise it over other things.

Talking to news agency Reuters, Jack Mallers, CEO of global bitcoin app Strike, praised Trump's proposal to create a strategic bitcoin reserve, calling it an "unbelievable vote of confidence."

Meanwhile, crypto executives are critical of the Securities and Exchange Commission's enforcement actions under President Joe Biden.

Nearly 30 Democratic lawmakers and Congressional candidates have urged the Democratic National Committee and Harris to adopt a forward-looking approach to digital assets. They emphasised the electoral significance of crypto and blockchain technologies in their letter on Saturday.

(With inputs from agencies)

Republican presidential candidate Donald Trump on Saturday (Jul 27) declared that the US must dominate the cryptocurrency sector to prevent China from taking the lead.

Republican presidential candidate Donald Trump on Saturday (Jul 27) declared that the US must dominate the cryptocurrency sector to prevent China from taking the lead. In his latest effort to court crypto advocates ahead of the November 5 presidential election, Trump at the Bitcoin 2024 convention in Nashville said, "If we don't embrace crypto and bitcoin technology, China will, other countries will." Trump, who once dismissed bitcoin as a "scam," positioned himself as the pro-cryptocurrency candidate and said, "They'll dominate, and we cannot let China dominate. They are making too much progress as it is." Also read | Trump vs Harris: From 'evil' to 'just plain weird' the Republican vs Democrat war of words heat up He promised to make the US the world's leader in cryptocurrency, with more favourable regulations compared to likely Democratic nominee Vice President Kamala Harris. China, US and cryptocurrency Trump highlighted the necessity for the US to establish a stronger foothold in the cryptocurrency sector. He proposed creating a crypto presidential advisory council and a national "stockpile" of bitcoin using cryptocurrency currently held by the US government, mostly seized in law enforcement actions. "Never sell your bitcoin," Trump urged. "If I am elected, it will be the policy of my administration to keep 100 per cent of all the bitcoin the US government currently holds or acquires into the future." Watch what he said here: PRESIDENT TRUMP: Today, I am laying out my plan to ensure that the United States will be the Crypto Capital of the planet and the Bitcoin Superpower of the world. If crypto is going to define the future, I want it to be “MINED,” “MINTED,” and MADE IN THE USA. And if Bitcoin is… pic.twitter.com/fVn24KLfiD — Trump War Room (@TrumpWarRoom) July 27, 2024 × Trump's advocacy for expanded bitcoin mining by US firms marks a significant shift from his 2021 stance, when he labelled cryptocurrency a "scam." Also read | Trump tells Christians they 'wouldn't have to vote again' if he wins 2024 presidential election - WATCH He also reiterated his intention to commute the sentence of Ross Ulbricht, creator of the Silk Road website, who is serving a life sentence for facilitating illegal trades. This announcement was met with applause and chants of "Free Ross" from the audience. Global concerns about crypto Global concerns about privately operated digital currencies include potential risks to financial systems, promotion of financial crime, and harm to investors. While Trump's stance is likely to appeal to a growing political force of cryptocurrency use this election cycle, it is unclear how many would prioritise it over other things. Talking to news agency Reuters, Jack Mallers, CEO of global bitcoin app Strike, praised Trump's proposal to create a strategic bitcoin reserve, calling it an "unbelievable vote of confidence." Meanwhile, crypto executives are critical of the Securities and Exchange Commission's enforcement actions under President Joe Biden. Nearly 30 Democratic lawmakers and Congressional candidates have urged the Democratic National Committee and Harris to adopt a forward-looking approach to digital assets. They emphasised the electoral significance of crypto and blockchain technologies in their letter on Saturday. (With inputs from agencies)

'China will dominate' if US ignores crypto, warns Trump at Bitcoin 2024 convention

Deutsche Bank to process fiat deposits and withdrawals for Austrian exchange<o:p></o:p>

Deutsche Bank has announced a partnership with Vienna-based Bitpanda to process customer deposits and withdrawals of fiat currency (conventional money like Euros or Dollars), indicating a cautious embrace of cryptocurrencies. This alliance is a huge step forward for the crypto industry, which has struggled to secure traditional banking partnerships.<o:p></o:p>

Overcoming banking hurdles for crypto users<o:p></o:p>

The crypto business has long struggled to attract conventional banking partners, notably following the 2023 collapse of numerous US institutions with significant crypto clientele. Deutsche Bank's engagement represents a shift in mood, with Germany's largest bank providing Bitpanda customers in Germany with local bank account numbers to facilitate fiat cash payments. This reduces the need for crypto users to negotiate intricate deposit and withdrawal procedures.<o:p></o:p>

Deutsche prioritises compliance and risk management<o:p></o:p>

Deutsche Bank underlines its cautious approach to cryptocurrency. The bank emphasises its selected partnership standards, which include partners with comprehensive compliance systems, established regulatory frameworks, and a good risk management profile. Deutsche stresses that it would not directly handle cryptocurrency transfers, but will instead facilitate fiat deposits and withdrawals while assisting Bitpanda's treasury and payment operations.<o:p></o:p>

Strategic move for Deutsche Bank<o:p></o:p>

Deutsche Bank sees this cooperation as a strategic step to establish itself as a preferred banking partner for high-growth platforms in the virtual asset investment market. The bank already has a similar agreement with Hong Kong-based cryptocurrency exchange Hashkey, but the Bitpanda pact is its first in Europe, the Middle East, and Africa. This strategic approach prepares Deutsche Bank to possibly benefit from the developing cryptocurrency sector while remaining focused on compliance and risk management.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Deutsche Bank to process fiat deposits and withdrawals for Austrian exchange Deutsche Bank has announced a partnership with Vienna-based Bitpanda to process customer deposits and withdrawals of fiat currency (conventional money like Euros or Dollars), indicating a cautious embrace of cryptocurrencies.

Deutsche Bank to process fiat deposits and withdrawals for Austrian exchange Deutsche Bank has announced a partnership with Vienna-based Bitpanda to process customer deposits and withdrawals of fiat currency (conventional money like Euros or Dollars), indicating a cautious embrace of cryptocurrencies. This alliance is a huge step forward for the crypto industry, which has struggled to secure traditional banking partnerships. Overcoming banking hurdles for crypto users The crypto business has long struggled to attract conventional banking partners, notably following the 2023 collapse of numerous US institutions with significant crypto clientele. Deutsche Bank's engagement represents a shift in mood, with Germany's largest bank providing Bitpanda customers in Germany with local bank account numbers to facilitate fiat cash payments. This reduces the need for crypto users to negotiate intricate deposit and withdrawal procedures. Deutsche prioritises compliance and risk management Deutsche Bank underlines its cautious approach to cryptocurrency. The bank emphasises its selected partnership standards, which include partners with comprehensive compliance systems, established regulatory frameworks, and a good risk management profile. Deutsche stresses that it would not directly handle cryptocurrency transfers, but will instead facilitate fiat deposits and withdrawals while assisting Bitpanda's treasury and payment operations. Strategic move for Deutsche Bank Deutsche Bank sees this cooperation as a strategic step to establish itself as a preferred banking partner for high-growth platforms in the virtual asset investment market. The bank already has a similar agreement with Hong Kong-based cryptocurrency exchange Hashkey, but the Bitpanda pact is its first in Europe, the Middle East, and Africa. This strategic approach prepares Deutsche Bank to possibly benefit from the developing cryptocurrency sector while remaining focused on compliance and risk management. (With inputs from Reuters)

Deutsche Bank Dips Toe into Crypto with Bitpanda Partnership

Russian commodities firms struggling to execute financial transactions with Chinese counterparts have started tapping a new method for settling deals - cryptocurrency or stablecoins. This shift is mainly attributed to current sanctions against Russia due to the ongoing Ukraine-Russia war.

Gravitas: Crypto, a saviour for sanctions-hit Russia?

Ether, the world's second-largest cryptocurrency, is experiencing its biggest two-day surge in nearly two years, fueled by optimism over potential approval of spot exchange-traded funds by the sec. Meanwhile, bitcoin is also on the rise, nearing its march peak, as investors react to the latest regulatory developments.

Ether climbs over 8%, nearing $3,780 amid ETF optimism

The Securities and Exchange Board of India (SEBI), India's market watchdog, has proposed that multiple agencies regulate cryptocurrency transactions, the clearest indication yet that some authorities in the country are willing to consider private virtual assets. This differs from the Reserve Bank of India (RBI), which continues to see private digital currencies as a macroeconomic threat, according to documents examined by Reuters.

The records, provided to a government group charged with developing policy for the finance ministry, indicate SEBI's previously undisclosed viewpoint. This contrasts with India's previously strict stance on cryptocurrencies, which began in 2018 with the RBI prohibiting lenders and financial intermediaries from engaging with crypto firms. The restriction was overturned by the Supreme Court in 2020. The administration proposed a bill to ban private cryptocurrencies in 2021, but it has yet to be introduced. India proposed a worldwide regulatory framework for such assets last year while holding the G20 presidency.

The RBI is firmly opposed to stablecoins, citing macroeconomic dangers. A source acquainted with the panel's talks, who asked to remain anonymous, stated that the panel plans to complete its findings by June. Stablecoins are cryptocurrencies that have a stable value because they are pegged to fiat currencies, minimising volatility.

In contrast, SEBI's recommendations propose that multiple regulators control bitcoin operations within their respective sectors, rather than establishing a single unified digital asset regulator. SEBI recommended that it monitor cryptocurrencies that are regarded securities as well as handle Initial Coin Offerings (ICOs). SEBI may also grant licenses for stock market-related cryptocurrency products, comparable to the role of the Securities and Exchange Commission in the United States.

SEBI suggested that the RBI regulate cryptocurrency assets backed by fiat currencies. The Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA) would oversee virtual assets relating to insurance and pensions, respectively. SEBI proposed that investor issues be addressed through India's Consumer Protection Act.

The RBI's proposal highlighted fiscal policy risks, claiming that cryptocurrencies could promote tax evasion and that decentralised peer-to-peer transactions rely on voluntary compliance, posing a threat to fiscal stability. The central bank also cautioned about a probable loss of "seigniorage" income, which is the profit from currency production.

According to a PwC analysis in December, 31 nations have policies in place that allow for bitcoin trading. Following the Supreme Court's reversal of the RBI's 2018 order, the central bank increased compliance with rigorous anti-money laundering and foreign exchange regulations, thereby keeping cryptocurrencies out of India's formal financial system. Despite these measures, the crypto trade thrived. In 2022, the government put a levy on cryptocurrency transactions and required local registration for exchanges that facilitate cryptocurrency trades in India.

(With inputs from Reuters)

The Securities and Exchange Board of India (SEBI), India's market watchdog, has proposed that multiple agencies regulate cryptocurrency transactions, the clearest indication yet that some authorities in the country are willing to consider private virtual assets.

The Securities and Exchange Board of India (SEBI), India's market watchdog, has proposed that multiple agencies regulate cryptocurrency transactions, the clearest indication yet that some authorities in the country are willing to consider private virtual assets. This differs from the Reserve Bank of India (RBI), which continues to see private digital currencies as a macroeconomic threat, according to documents examined by Reuters. The records, provided to a government group charged with developing policy for the finance ministry, indicate SEBI's previously undisclosed viewpoint. This contrasts with India's previously strict stance on cryptocurrencies, which began in 2018 with the RBI prohibiting lenders and financial intermediaries from engaging with crypto firms. The restriction was overturned by the Supreme Court in 2020. The administration proposed a bill to ban private cryptocurrencies in 2021, but it has yet to be introduced. India proposed a worldwide regulatory framework for such assets last year while holding the G20 presidency. The RBI is firmly opposed to stablecoins, citing macroeconomic dangers. A source acquainted with the panel's talks, who asked to remain anonymous, stated that the panel plans to complete its findings by June. Stablecoins are cryptocurrencies that have a stable value because they are pegged to fiat currencies, minimising volatility. In contrast, SEBI's recommendations propose that multiple regulators control bitcoin operations within their respective sectors, rather than establishing a single unified digital asset regulator. SEBI recommended that it monitor cryptocurrencies that are regarded securities as well as handle Initial Coin Offerings (ICOs). SEBI may also grant licenses for stock market-related cryptocurrency products, comparable to the role of the Securities and Exchange Commission in the United States. SEBI suggested that the RBI regulate cryptocurrency assets backed by fiat currencies. The Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA) would oversee virtual assets relating to insurance and pensions, respectively. SEBI proposed that investor issues be addressed through India's Consumer Protection Act. The RBI's proposal highlighted fiscal policy risks, claiming that cryptocurrencies could promote tax evasion and that decentralised peer-to-peer transactions rely on voluntary compliance, posing a threat to fiscal stability. The central bank also cautioned about a probable loss of "seigniorage" income, which is the profit from currency production. According to a PwC analysis in December, 31 nations have policies in place that allow for bitcoin trading. Following the Supreme Court's reversal of the RBI's 2018 order, the central bank increased compliance with rigorous anti-money laundering and foreign exchange regulations, thereby keeping cryptocurrencies out of India's formal financial system. Despite these measures, the crypto trade thrived. In 2022, the government put a levy on cryptocurrency transactions and required local registration for exchanges that facilitate cryptocurrency trades in India. (With inputs from Reuters)

India's SEBI recommends multi-regulator approach for cryptocurrencies amid RBI opposition

US charges two brothers who studied at the Massachusetts Institute of Technology (MIT) with fraud-related offenses for allegedly attacking the Ethereum blockchain and stealing $25 million in cryptocurrency in only about 12 seconds. Watch in for more details!

US charges two brothers for stealing $25 million worth of cryptocurrency

The House of Representatives voted 228-182 to overturn a Securities and Exchange Commission (SEC) rule impacting how banks handle Cryptocurrency. The rule, known as SAB 121, required banks to classify crypto holdings as liabilities, making them more capital-intensive to store.

US House votes 228-182 to overturn sec crypto custody guidance

Australia’s tax office has sought from crypto currency exchanges the personal data and transaction details of up to 1.2 million accounts as it looks to crack down on users who may be failing to pay their taxes. Watch in for more details!

Australia targets 1.2 mn crypto accounts in major tax crackdown

cryptocurrency

Cryptocurrency, News on Cryptocurrency, stories on Cryptocurrency, articles on Cryptocurrency, Cryptocurrency stories at Wion, Cryptocurrency news, Cryptocurrency latest news