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:
Michael Saylor, founder of MicroStrategy, revised his stance on Bitcoin self-custody following backlash from the crypto community. In an interview earlier in the week, Saylor had advocated for trusting large banks with Bitcoin assets, drawing criticism from prominent figures like Ethereum co-founder Vitalik Buterin. Responding to the uproar, Saylor emphasized that he supports self-custody for those capable and the freedom for individuals and institutions to choose their custodial preferences. The debate highlighted differing views on self-custody, with some considering Saylor’s initial remarks as capitulation to centralized financial institutions. Cointelegraph
The Pennsylvania House of Representatives has passed House Bill 2481, known as the Bitcoin Rights Bill, with a bipartisan vote of 176 to 26. The bill aims to clarify the legal status of cryptocurrency ownership and use within the state, allowing residents to self-custody their digital assets and enabling Bitcoin transactions for payments. Introduced by the nonprofit Satoshi Action Fund, the legislation empowers individuals to directly hold and manage their cryptocurrencies without relying on third-party services like exchanges. If approved by the Senate, this bill could signify a broader acceptance of digital currencies in Pennsylvania, aligning with similar legislative efforts in states like Oklahoma and Louisiana, as the federal government continues to navigate the complexities of crypto regulation. crypto.news
At Microsoft's upcoming annual shareholder meeting, investors will vote on a proposal to evaluate Bitcoin as part of the company’s treasury holdings, though the board of directors recommends a “no” vote. The proposal, submitted by a shareholder advisory group, calls for Microsoft to consider Bitcoin’s potential value in corporate finance. The board, however, cites the cryptocurrency's volatility and stresses that its current asset evaluation practices already cover diverse investment options, including cryptocurrencies. CryptoSlate
The Bank of Canada lowered its benchmark interest rate by 50 basis points to 3.75%, marking the fourth rate cut since June, as inflation cooled to 1.6% in September. With inflation now near the target rate of 2%, Governor Tiff Macklem expressed optimism, noting that Canadians can "breathe a sigh of relief" as inflationary pressures ease. The central bank indicated potential for further rate cuts if economic conditions align with forecasts, but future decisions will depend on economic data. While another rate cut is expected in December, some economists predict the Bank will adopt a more cautious pace going forward, especially given stronger U.S. economic performance and Canada’s moderate growth outlook. Yahoo Finance
Ndax's new news feature provides the latest news, stories, and trends to help you keep your hand on the pulse of crypto and blockchain.
View Live Stories
News Nuggets
As of 10-28-2024 at 9:00 AM EST
Market Summary
Performance
Visit our new markets page offering real-time data for almost 15,000 cryptocurrencies. Track trends, monitor your favorite cryptocurrencies, and stay ahead of the market.
View Live Market Data
Mark your calendars!
SEI and SUI have joined our list of 10 other stakable assets available on Ndax.
To learn more click here.
Introduce Ndax to your community and unlock rewards! For every new user you refer to Ndax, you'll automatically earn $15-$30 CAD, terms and conditions apply.
Thanks for reading our latest newsletter. Don't forget to follow us on social media for more updates and join the conversation on our forums.
Happy trading,
The team at Ndax