Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, industry news and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
Happy Monday, Ndaxers— Here’s what happened last week:
Craig Wright criticized Michael Saylor’s approach to Bitcoin, calling it a distortion of the cryptocurrency's original purpose. Wright, who claims to be Bitcoin's creator, accused Saylor of centralizing Bitcoin through his strategy to turn MicroStrategy into a Bitcoin-focused merchant bank. Saylor has positioned MicroStrategy as a major Bitcoin holder, promoting it as “digital gold” and aiming to acquire $150 billion in Bitcoin. Wright argued that Saylor's vision contradicts Bitcoin’s original intent of avoiding intermediaries and decentralization. This dispute highlights ongoing divisions within the cryptocurrency community regarding Bitcoin’s role and principles. crypto.news
A Digital Chamber survey reveals that one in seven US voters, or an estimated 26 million people, consider a candidate’s stance on cryptocurrency crucial in the 2024 presidential election. Among the 1,004 respondents, 16% identified as part of the "Crypto Voting Bloc," expressing a preference for pro-crypto candidates. The findings show that 25% of Democrats and 21% of Republicans are more likely to support candidates favorable to digital assets. crypto.news
Tesla has transferred its entire Bitcoin holdings, valued at approximately $765 million, to a series of unidentified wallets, according to data from Arkham Intelligence. The transfer involved 11,500 BTC moved through 26 transactions, and no links to crypto exchanges have been detected, suggesting that the company may not be selling its Bitcoin assets at this time. This marks the first activity from Tesla’s Bitcoin wallet since June 2022, prompting speculation about the company’s intentions. Tesla initially bought $1.5 billion in Bitcoin in early 2021 and has since sold portions of its holdings, with CEO Elon Musk having reversed and later reconsidered accepting Bitcoin as payment due to environmental concerns. CryptoSlate
The SEC's recent appeal against Ripple does not contest the court's ruling that XRP is not classified as a security. Filed on October 16, the SEC's Form C specifically addresses aspects of the summary judgment related to Ripple's sales on exchanges and personal sales by CEO Brad Garlinghouse and co-founder Chris Larsen. Ripple’s chief legal officer, Stuart Alderoty, emphasized that the decision affirming XRP’s status remains intact and is now established law. As the legal process unfolds, Ripple plans to submit its own Form C, with expectations that the appeal timeline could extend through July 2025, following the initial filing and briefing schedule. Cointelegraph
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