Author: Ava Patel

Article written by Ava Patel

Vancouver’s mayor proposes creating a Bitcoin reserve to strengthen the city’s finances

November 30, 2024 1 min read

Vancouver Mayor Ken Sim has proposed the establishment of a Bitcoin reserve to strengthen the city’s financial strategy. The plan, set to be formally introduced on December 11, aims to evaluate Bitcoin’s potential to diversify resources and hedge against economic uncertainty. This initiative reflects a broader trend of governmental interest in cryptocurrency adoption. Sim’s vision aligns with Vancouver’s ambition to become North America’s most Bitcoin-friendly city. The city already hosts

Somnia Partners With Ankr to Power Developer Infrastructure and Drive Innovation

November 27, 2024 1 min read

Somnia, known as “the dream computer for a fully on-chain world,” has announced a strategic partnership with Ankr, a leading blockchain infrastructure provider. This collaboration aims to enhance Somnia’s ecosystem by delivering top-tier tools, cost efficiencies, and innovative opportunities for developers. Key Highlights of the Partnership A Shared Vision for Blockchain Innovation The partnership aligns with both companies’ mission to empower developers and advance blockchain technology. With Somnia’s focus on

Avalanche launches Avalanche9000 testnet to reducing costs and enable permissionless L1s

November 26, 2024 1 min read

Avalanche, the blockchain ranked eighth by total value locked (TVL), has introduced its most significant update yet with the Avalanche9000 upgrade, now live on the testnet. This groundbreaking overhaul aims to revolutionize app development, reduce transaction fees, and make validator operations more affordable, setting the stage for its mainnet launch in late 2025. Key Features of Avalanche9000 The upgrade includes two major proposals: Avalanche9000 also enhances interoperability with Interchain Messaging (ICM), enabling seamless

BlackRock’s Bitcoin ETF Options Debut with $2 Billion Exposure

November 21, 2024 1 min read

BlackRock’s Bitcoin ETF (IBIT) options launched with unprecedented success, amassing nearly $2 billion in notional exposure on their first day. Analysts highlighted the trading of 354,000 contracts, with a call-to-put ratio of 4.4:1, attributing this surge to Bitcoin’s recent rally to all-time highs. The introduction of IBIT options marks a pivotal moment for institutional adoption of Bitcoin, providing regulated avenues for hedging, speculation, and passive income generation. Options allow traders

Pennsylvania lawmakers propose a bill to allow state investments in bitcoin

November 16, 2024 1 min read

Pennsylvania lawmakers have proposed the Strategic Bitcoin Reserve Act, a bill that would allow the state treasurer to invest in Bitcoin, digital assets, and crypto-based exchange-traded products. Sponsored by Republican Representatives Mike Cabell and Aaron Kaufer, the bill aims to use Bitcoin as a hedge against inflation, offering a tool to protect state finances from economic uncertainty. Rep. Cabell emphasized that institutions and governments, including the U.S., have already adopted Bitcoin

Tesla’s Bitcoin investment surges past $1 billion, netting a $495 million profit

November 15, 2024 1 min read

Tesla’s Bitcoin (BTC) holdings have now surpassed $1 billion, generating a $495 million profit thanks to recent price increases. Tesla initially invested in Bitcoin in early 2021, purchasing around 43,200 BTC for $1.5 billion, influenced by CEO Elon Musk’s support for cryptocurrencies. This move not only strengthened Tesla’s financials but also inspired other corporations to consider digital assets. Although Tesla later sold part of its Bitcoin holdings, it retained a

Bitcoin Touches Record-High of Over $89K, Up 21% Since Trump Was Elected

November 12, 2024 1 min read

Bitcoin has made headlines by reaching an impressive $89,000 on Monday, following Donald Trump’s recent election win on November 5. This surge represents a remarkable increase of over 21% since the election results were announced. The cryptocurrency has been on a remarkable upward trajectory, adding nearly $20,000 in just a week after dipping to $66,700 on November 6. Interestingly, while Bitcoin thrives, major tech stocks like Apple, NVIDIA, Amazon, Microsoft,

The crypto market adds over $200 billion as Bitcoin reaches record high

November 7, 2024 1 min read

Today, the cryptocurrency market experienced a remarkable surge, adding over $200 billion to its total market cap. This upswing is largely attributed to growing optimism surrounding the U.S. elections, which has lifted the overall valuation of cryptocurrencies to a multi-month high. Investors are hopeful for continued gains, especially if key support levels remain intact. The favorable election results for Donald Trump have sparked a wave of buying interest, creating a

TON Foundation unveils Society DAO

November 3, 2024 1 min read

The Open Network Foundation is taking significant steps to enhance the decentralization of its blockchain network through a new governance initiative called Society DAO. Announced on November 1, this initiative aims to create a more inclusive and transparent ecosystem for the TON community. Society DAO is designed to empower community members by incorporating essential principles of decentralization, transparency, and inclusivity. According to Steve Yun, the president of the TON Foundation,

Bhutan’s government transfers $66 million in Bitcoin to Binance

October 31, 2024 2 mins read

Recently, Bhutan made headlines by transferring a substantial amount of Bitcoin—929 BTC, valued at approximately $66.16 million—to the Binance exchange. This transfer occurred in two stages, with the first batch of 100 BTC sent in the morning, followed by a larger transfer of 839 BTC shortly after. This marks Bhutan’s first move of Bitcoin to an exchange since a previous deposit to Kraken in July. The motivations behind this significant

Ripple co-founder Chris Larsen calls SEC Chair Gary Gensler the “worst public servant”

October 29, 2024 1 min read

The ongoing conflict between Ripple Labs and the Securities and Exchange Commission (SEC) is heating up, particularly with Ripple’s co-founder, Chris Larsen, taking a strong stance against SEC Chair Gary Gensler. In a recent interview with CNBC, Larsen did not hold back, labeling Gensler as the “worst public servant of all time” and criticizing his handling of cryptocurrency regulations in the U.S., as well as his support for Kamala Harris’

Ripple challenges the SEC in a crucial court appeal

October 28, 2024 2 mins read

Ripple Labs is intensifying its legal confrontation with the U.S. Securities and Exchange Commission (SEC) by filing a cross-appeal in the U.S. Court of Appeals for the Second Circuit. This move challenges a previous ruling that deemed certain XRP sales to institutional investors as securities, while also responding to the SEC’s recent appeal against a favorable ruling for Ripple from earlier this year. This moment is pivotal in the ongoing