Author: Ava Patel

Article written by Ava Patel

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

Pennsylvania House of Representatives passes “The Bitcoin Rights Bill”

October 25, 2024 1 min read

Pennsylvania has made a significant move in the realm of crypto by passing “The Bitcoin Rights Bill,” which aims to provide much-needed regulatory clarity for the crypto industry. This legislation, known as House Bill 2481, garnered strong bipartisan support in the Pennsylvania House of Representatives, passing with a vote of 176 to 26 on October 23, 2024. The bill offers essential protections for Bitcoin and cryptocurrency holders, emphasizing the right

The UK’s FCA defends strict crypto regulations to prevent money laundering

October 22, 2024 2 mins read

The Financial Conduct Authority (FCA) in the UK is standing firm on its stringent regulations for cryptocurrency companies, despite some pushback from the industry. The FCA believes these rules are essential for preventing money laundering and maintaining the integrity of the UK’s financial system. Val Smith, who leads the FCA’s payments and digital assets division, emphasized that the rigorous registration process for crypto firms is designed to create a safe

Algorand’s User Base Surges by 34%

October 22, 2024 2 mins read

The Algorand Foundation recently shared its monthly report, highlighting a remarkable increase in user engagement on the platform throughout September. This surge in activity, particularly in Daily Active Users (DAU), was largely attributed to the introduction of Algorand Coinbase Learning Rewards, which launched in mid-September. This initiative helped DAUs soar to around 180,000, marking a significant rise of nearly 34% in Monthly Active Users (MAUs) compared to August. To put

Ripple CEO Brad Garlinghouse accuses the SEC of defying court rulings on XRP

October 15, 2024 1 min read

The ongoing clash between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) shows no signs of resolution. Recently, Ripple’s executives took to social media to voice their discontent, claiming that the SEC has disregarded a recent court ruling regarding XRP. Stuart Alderoty, Ripple’s Chief Legal Officer, continues to challenge the SEC’s assertion that XRP qualifies as a security, despite a favorable ruling from the court. Ripple’s CEO, Brad

An 86-year-old ex-lawyer was sentenced to probation and ordered to repay $14M

October 11, 2024 1 min read

In a striking case that underscores the perils of trust in the digital investment landscape, 86-year-old former California lawyer David Kagel has been sentenced to five years of probation and ordered to repay nearly $14 million for his role in a crypto Ponzi scheme. Kagel, who pleaded guilty to conspiracy to commit commodity fraud, exploited his legal credentials to lure investors into a fraudulent crypto trading bot program that promised