Venezuela has stepped up its use of cryptocurrencies for oil exports in response to new sanctions imposed by the US.

The U. S. Treasury Department suspended PDVSA's general trading license, requiring it to cease operations by May 31 unless special permission is granted.
PDVSA began switching to the #digital currency #USDT in 2023 to avoid having its oil revenues frozen by foreign banks.
Venezuela has dramatically increased its reliance on #cryptocurrencies in response to new oil sanctions imposed by the US. Venezuela's state-owned oil company, PDVSA, is leading the shift to cryptocurrencies as a tactic to avoid the financial embargo that has plagued its operations.
The change in strategy became necessary after the U. S. Treasury Department recently closed PDVSA's general licenses to its trading partners due to Venezuela's failure to enact electoral reforms. According to the order, the companies will now have until May 31 to finalize their deals, after which they will have to obtain separate U. S. authorization to continue trading oil with Venezuela.
In anticipation of tougher sanctions, PDVSA began a gradual transition in 2023 when it began converting oil revenues into USDT, a #cryptocurrency pegged to the U. S. dollar. The move was designed to minimize the risk of Venezuela's oil revenues being frozen in international accounts.
Under the current sanctions regime, this poses a serious threat. According to insiders, the sanctions increased the urgency of the move and emphasized the need for stronger adaptation to cryptocurrencies.
Venezuela's oil minister Pedro Terecha told Reuters. He said cryptocurrencies could become the primary method of payment for some contracts in the future, reflecting a strategic shift in how Venezuela manages its oil revenues.
Globally, the U. S. dollar has been the main currency for oil deals.

PDVSA changed its sales approach in the first quarter, requiring prepayment of half the cargo value in U. S.

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#CompassInvestments

With the recent rate halving and spot exchange traded funds (ETFs) driving demand, bitcoin will be in the spotlight for most of 2024. However, according to Katie Wood of Arc Invest, Ethereum (ETH) could catch up with bitcoin and provide investors with significant returns in the coming years.

Speaking at an investor conference organized by Arc Invest, Ms. Wood spoke about #BTC , noting that the project could reach a market capitalization of $20 trillion by 2032. The current supply of #BTC is around 120 million tokens. Reaching a market capitalization of $20 trillion means that the price of a single token will exceed $166,000. Moreover, this figure could be even higher as Ethereum Fund continues to burn tokens.
Don't miss out:
If you had invested $100 when Elon Musk first tweeted about DOGE in 2019, how much money would you have on hand today?
#BTC has soared another 45% this year.
At a price of $166,000, 6 ETH is worth about $1 million. Currently, 6 ETH is worth approximately $20,000 USD.
By comparison, the total market capitalization of the S&P 500 is about US$40 trillion. In addition, the world's gold reserves are valued at around 16 trillion USD. Ethereum could theoretically reach a market capitalization of US$20 trillion, but this is likely not going to happen anytime soon.
However, in justifying this exaggerated claim, Wood is mostly talking about mass adoption. Ethereum essentially serves as a means to directly interact with a frightening number of decentralized financial applications (DeFi). These projects can offer a range of benefits, from loans and credit to storing medical records. By 2024, however, #BTC will be used primarily for smaller financial platforms. According to Wood, if Ethereum starts creating favorable usage scenarios for users, it could lead to a rise in popularity and, theoretically, a rise in the price of the token.
TREND: Dogecoin millionaires are on the rise - over $1 million DOGE investors identified!

Additionally, Wood will only cite the huge numbers to give investors hope for the future of ETH.
It is also important to keep in mind that Ms.
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#DigitalCurrency

Polkadot (DOT) betting is suitable for both beginners and experienced users who want to earn passive rewards on long-term assets. Learn everything you know about it.

Cryptocurrency betting is a process where users temporarily #blockchain tokens in exchange for rewards, most often in the form of interest.
Unlike blockchains based on the Proof of Work (PoW) consensus algorithm such as #BTC , #Polkadot uses an algorithm called Nominated Proof of Stake (NPoS).
NPoS has many complex functions related to the interaction of Polkadot's parachains, which are essentially connected and protected by a core network, also called a relay chain. In addition to its many features, NPoS also allows for betting.
In this guide, we will detail how Polkadot betting works, the different types of betting at the #DOT , the advantages and disadvantages, potential risks, and provide step-by-step instructions on how to bet at Polkadot.
For more information, visit the Polkadot guide.
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#GlobalCrypto

The U.S. Securities and Exchange Commission (SEC) has demanded more than $5 billion in fines against Terraform Labs and Do Kwon as a result of a civil proceeding.

The penalty amount includes $4.7 billion in compensatory damages and $520 million in civil penalties.
Terraform is proposing a fine of up to $3.5 million and Kwon is proposing a fine of $BTC The US Securities and Exchange Commission (SEC) intends to seriously prosecute Terraform Labs and its co-founder Do Kwon. After a court found them guilty, the SEC demanded that they pay a fine of US$5.2 billion. That's $4.7 billion in damages and $520 million in fines to be split 50/50 between Terraform ($420 million) and Kwon ($100 million). This legal bombshell was dropped in a New York court on April 19.
Kwon and his company didn't stay quiet. They offered Terraform US$3.5 million and Kwon a meager US$800,000 in damages. Yes, that's paltry compared to the SEC's demands.
But that's not all: the SEC wants more than just your wallet. They want to permanently strip Kwon of his board seat. If the court agrees, Kwon will no longer be able to sit on the board of directors of any securities company. They are also seeking an injunction against any action related to Terraform. Essentially, they want to prevent the company from doing the same thing again. The trial has not yet begun, so it is still unclear what the judge will decide.
According to the SEC, Kwon and his team are unrepentant and inclined to break the rules again. The court says they have made it clear that violations of market rules will not be tolerated.
On April 5, the curtain was lifted on the questionable deal between TerraForm and Mr. Kwon. They were found guilty of defrauding investors regarding TerraUSD (UST), Luna, and wLUNA. A TerraForm spokesperson stated that they have already decided how to proceed. This is not a good position to be in.

SAVE LINK.

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BNB prices are trying to start a new rise from the $550 zone. Price may overcome $600 resistance and extend gains above $630.

BNB prices started a new rise after breaking the $550 resistance zone.
The price is currently trading above the $580 level and 100 simple moving average (4-hour).
An important bullish trend line has formed on the 4-hour chart of the BNB/USD pair (Binance data source) with support at USD 592.
If the pair breaks the resistance zone at USD 608-610, the bullish momentum could strengthen.
The #BTC market started a new rally after forming a base at the USD 520 level. Like #BTC and #BTC , the price confidently broke the resistance levels of USD 550 and USD 565.
The bulls pushed the price above the $580 reversal level and the 61.8% retracement level of the downward Fib wave from the $630 high to the $512 low. More importantly, price is trading above the $100 simple moving average (four-hour) at $BTC Price is consolidating just above the retracement level of the fib 76.4% downward wave from the $630 high to the $512 low. A significant bullish trend line has also formed on the 4-hour chart of the BNB/USD pair with support at $BTC The nearest resistance is near the $608 level. The next resistance is near the $630 level; a clear break above the $630 area could push prices even higher. In this case, the BNB price could test the $650 level. If the price closes above the $650 resistance level, the price could rise further towards the $680 resistance level. If the price rises even higher, it could test the $720 level in the next few days.
Will the dip provide support?
If BNB fails to overcome the $608 resistance level, a downward correction may begin. The first support on the downtrend is near the $592 level and trend line.
The next major support is near the $585 level. Key support is at the $570 level; a break below the $570 level could send prices down to the $550 level. Further losses could cause price to fall to the $ 532 level.

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#CryptoUpdates #news

Scammers are cashing in on the hype surrounding meme coins, taking advantage of users' increased risk appetite due to FOMO.

ZachXBT found that 12 pre-sale #Solana #meme coin projects have been "completely abandoned" over the past month.
This came after the projects raised $26.7 million from investors.
ZachXBT highlighted these projects in an April 21 post on Site X, warning investors not to post links to future projects by the listed founders.
Although only a month has passed, 12 different pre-sale Solana meme coins have been completely discontinued after raising over 180,650 #SOL ($26.7 million USD).
This warning is due to the fact that many of these projects crashed shortly after launching, and some have not even been able to issue actual tokens.
The I Like This Coin (LIKE) project, founded by founder (pseudonym) pokeee. #eth , led the way in terms of funding. It raised 52,220 solans (SOL), equivalent to $7.7 million at current market prices.
However, in the first eight hours of trading, the value of the coin dropped by more than 90%. At the time of publishing this article, the value of LIKE has fallen 99.2% from its launch price.
In addition, the official X-account of the meme coin's founder hasn't posted anything new since March 31, and the pokeee. eth website hasn't provided any updates on the #token since then.
LIKE is followed by MOONKE, a meme coin also launched by the anonymous RockyXBT. moonke suffered the same fate as its predecessor, despite an initial valuation of $500 million: shortly after launch, the coin's value plummeted by more than 99%.
Another project launched by founder Jared_eth raised 4,567 SOLs worth about $812,000, but never materialized because the token never launched.
A recent study by Blockaid found that 50% of pre-sale tokens launched on the Solana blockchain between November 2023 and February 2024 were malicious.

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Gold vs. bitcoin: which is better for storage?

Meanwhile, #bitcoin supply is dwindling and gold risks becoming oversupplied in the coming years; after the April 20 "halving" event, #BTC shortages will become even more pronounced in the coming years.
Since its launch, the bitcoin network has cut its daily #issuance to miners in half. In its fifth phase, the network issues 3.125 BTC to successful miners or #mining pools every 10 minutes. This figure is 50% lower than in the fourth period, when the reward was 6.25 BTC per block.
Gold and bitcoin are generally considered safe assets. However, over the last century, gold has become the preferred store of value for banks and countries due to its scarcity. Almost every central bank in the world keeps gold as a reserve.
However, Mr. Wu believes that gold holders will face a difficult situation in the coming years as new supplies flood the market due to technological advances that have increased the pace of production.
Mr. Wu is a supporter of bitcoin. Bitcoin is a digital asset that is considered digital gold due to its predetermined and transparent issuance schedule. According to Mr. Wu, traditional gold investors are unaware that the yellow metal is a "slow-moving carpet" that will rise over the next decade.
Is BTC ready for a sharp rise?
In another post on the site, X Wu argues that the bitcoin price ratio suggests that the coin is poised for a mega-reversal: despite bitcoin soaring to $73,800 in March 2024, the rally hasn't even started yet, the analyst continues.
The jump in the value of the coin beyond the previous all-time high of $70,000 was an aberration from past performance.
However, history shows that even if prices continue to rise further in the current period, new all-time highs will be reached according to Wu's predictions.

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#TokenEconomy

Nearly all cryptocurrencies in the Coindesk Market Index have risen in the past 24 hours, and the rise has been broad-based.

QCP Capital noted that funding rates for some altcoins and mymcoins have turned deeply negative and could rise quickly in a short squeeze.
The #cryptocurrency market rallied on Monday, with #bitcoin (BTC) nearing the $67,000 mark as fears of a deepening correction eased.
Bitcoin, whose new supply halved over the weekend for the first time in four years, has risen more than 3% in the past 24 hours and recently traded at $66,500. Ether (ETH) is holding near the $3,200 mark, but has lagged gains of 1.5% over the same period.
Strong cryptocurrency performance has been widespread, with 163 of the 173 #cryptocurrencies in the Coin Desk Market Index (CMI) recording positive daily returns. The broad-based Coin Desk 20 Index (CDI) rose more than 3% in a single day, thanks to a 15% rise in the blockchain's proprietary tier one token Near Protocol (NEAR).
The rebound also spread to digital asset-related stocks, with shares of cryptocurrency exchanges Coinbase (COIN) and MicroStrategy (MSTR) up 7% and 12%, respectively.
Listed miners Riot Platforms (RIOT) and Hat8 (HUT) were up 15-20%, while shares of Marathon Digital (MARA) were up 6% for the day on expectations of improved corporate earnings due to rising trading fees, which are becoming an important source of revenue for miners.
Markus Thielen, founder of 10x Research, told CoinDesk TV on Thursday that Bitcoin's halving "is not a bullish event" and warned that the market is headed for a downturn in the coming months, with deeper corrections ahead. The main reason, he said, is that miners are selling $5 billion worth of #BTC inventory and maintaining stability amid declining revenues.

In the short term, we may see a short squeeze led by altcoins and mimcoins," according to QCP Capital.
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#MarketInsights

U.S. Securities and Exchange Commission (SEC) lawyers Michael Welch and Joseph Watkins have resigned after a federal judge censured them for "gross abuse of authority" in a case against Utah-based cryptocurrency company Debt Box, according to a Bloomberg report.

The lawyers will reportedly be forced to resign or face dismissal.
In July 2023, the SEC sued Debt Box and its executives for defrauding investors of at least $49 million; the SEC sought and received a temporary restraining order to freeze the company's assets and place it into receivership.
However, Chief U. S. District Judge Robert Shelby of Utah later vacated the asset freeze, finding that the SEC may have made "materially false and misleading statements" in seeking the restraining order.
Judge Shelby's December 2023 order expressed concern that the SEC's conduct "undermined the integrity of the proceeding"; in March 2024, Judge Shelby sanctioned the SEC for "gross abuse of authority" granted by Congress. The SEC was then ordered to pay Debt Box's legal fees.
After the sanctions were imposed, the SEC filed a response in which it acknowledged that the SEC team had "failed" to meet the standards but argued that the sanctions were "unreasonable"; Gurbir Grewal, head of the SEC's enforcement division, as well as Welch and Watkins, "blamed" the SEC for the case. He apologized to the court that the
SEC also moved to dismiss the case without prejudice, but Judge Shelby denied the motion on the grounds that the court had not yet evaluated the underlying merits of the case.
In February 2024, five Republican members of the Senate sent a letter to SEC Chairman Gary Gensler criticizing the SEC's "unethical and unprofessional conduct. " The letter says other cases brought by the SEC deserve scrutiny for the same reasons.
Documents filed with the court on April 15, 2024, confirm that Welch is "no longer employed by the SEC," but according to Watkins' LinkedIn page, he is still employed by the SEC.
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The approval of US-based Ethereum Spot exchange-traded funds (ETFs) could boost Ethereum's market valuation. However, even if these ETFs are rejected, it could be more of an obstacle than a blow, according to Jupiter Zheng, head of research at HashKey Capital.

Zheng told Cointelegraph earlier this month that "even if the ETFs are rejected, it won't be such a bearish factor because the market hasn't taken it into account yet, and #bitcoin ETFs remain an entry point for traditional funds.
Zheng is also optimistic about the potential bullish effect of approved ETFs, especially those that involve betting, which could trigger a wave of short position liquidation and further boost the price of #BTC .
The U. S. Securities and Exchange Commission (SEC) is expected to make a decision on a spot #ETF for Ethereum within the next month. Unlike the situation with the bitcoin spot ETF, where there are reports of progress, the current atmosphere around the Ethereum ETF is less optimistic.
Bloomberg ETF analyst Eric Bartunas downgraded the probability of approval to 35%. Similarly, analysts at Barron's and JP Morgan remain skeptical due to the SEC's slow action.
VanEck, which issued a spot fund for Ethereum, said in a recent interview with CNBC that the SEC's response could be an outright rejection.
While unlikely, the approval of an ETF for Ethereum may not be the only source of momentum in the market right now. Prominent crypto investor Gehl believes that the bullish period for Ethereum will continue.
According to him, the chart of Ethereum before the recent bitcoin rate halving on April 20, 2024 shows a similar price pattern compared to the May 2020 drop.
Bitcoin's recent halving of the bitcoin rate signaled the start of $ETH 's active growth.
According to CoinMarketCap, the price of $ETH in 2020 was around $210 before the rate halving, but rose to $433 on August 14, a 106% increase. Gehl sees this historical pattern as an indicator that the price of #ETH could rise again after halving.
While the future of spot Ethereum ETFs remains speculative in the U. S.

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#CryptoMarketTrends

Rick Reeder, BlackRock's chief investment officer for global fixed income, has predicted that the Fed could cut rates twice this year as inflation falls in the coming months.

Mr. Reeder said, "It's getting harder for the Fed to cut rates, but I still think they can do it. " In particular, March's consumer price statistics pushed government bond yields to their highest level since 2024.
Market participants have since adjusted their expectations for Fed policy easing. #Swap traders now expect interest rates to be cut by about 40 basis points by the end of the year.
Leaders explained that #BlackRock is reducing interest rate risk and favoring short-term investments.
However, he believes that the opportunity to widen the yield curve is just around the corner. If we see a good inflation report or evidence of slowing employment growth, we may start lengthening maturities," Lieders said, adding that depending on future economic data, a change in strategy may not be far off.
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#InvestSmart #BlockchainFuture #CryptoNews

Imagine a world where the money supply is finite and no more dollars can be printed. This may seem fanciful. However, in the realm of bitcoin, such a scenario is not only possible, but inevitable.

The #bitcoin network, designed for a finite supply of 21 million coins, recently reached an important milestone. So far, 19,688,016 bitcoins have been mined, and less than two million bitcoins will be discovered in the next 120 years. This shortage, combined with the growing demand for bitcoins, will change the future of #cryptocurrencies .
The path to #mining the last bitcoin is gradual: by 2026, 95.24% of bitcoins will be mined, and by 2039, the figure will reach 99.52%. The last bitcoin is projected to be mined around 2093.
A little further away, in 2140, the last bitcoin will be mined (more realistically, the last Satoshi, the smallest bitcoin denomination). By then, bitcoin inflation will equalize.
This milestone is especially important for bitcoin miners. When all bitcoins are mined, bitcoin miners will no longer receive new bitcoins as a block reward. Instead, their only source of income will be transaction fees. Over time, it is expected that block rewards will decrease and transaction fees will become the main source of income for miners, which could lead to higher fees in dollar terms.
To give an example, in 2011, users paid 0.01 #BTC per transaction, many of which were confirmed for free. This amount was reduced to 00005 BTC in version 0.3. 23 and continued to decrease as the reality of bitcoin evolved and its price increased.
Currently, according to Bitinfocharts, the average transaction fee is 000022 BTC (104.6 sat/vB). Translated into dollars, this equates to $15 at today's prices; in 2017, the average fee was around $1, and in 2012 it was around $BTC The cost of mining a single bitcoin block today varies widely and depends on factors such as energy costs, the efficiency of the mining equipment and the hash rate of the network.

Between January 2020 and April 2024, the price of bitcoin increased by 943% in dollar terms.

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Distributed computing protocol io.net and DePIN platform Aethir have announced plans to use their distributed networks to enable widespread access to supercomputers. To mark their collaboration, io.net and Aethir will distribute $50 million worth of each other's tokens to their communities and invest $100 million to transform global computing capabilities.

The announcement emphasizes that the two projects have a combined computing power of 600,000 GPUs and CPUs, including 40,000 high-end GPUs, including 3,000 NVIDIA H100s. Developers will be able to utilize this combined power on demand, significantly reducing costs and driving innovation.
Ahmad Shadid, CEO of io. net, said. "The synergy between io. net and Aethir is as clear as it is extensive, and we are excited to work hand-in-hand to deliver best-in-class cloud computing services to our users.
The collaboration aims to address the high demand for computing resources due to the proliferation of artificial intelligence (AI). Previously, startups and developers faced the dilemma of investing in expensive server farms or relying on the services of technology giants, which often proved unprofitable. The partnership between io. net and Aethir, by providing an affordable alternative, aims to remove these barriers.
The initiative also aims to remove geographic barriers. Distributing computing infrastructure globally will reduce latency and operational costs, which will benefit #AI startups, especially in developing regions.
Daniel Wang, CEO of Aethir, said. "We look forward to making our high-performance GPU enterprise computing power available to the entire ecosystem. Making high-performance computing accessible to all is our shared mission, and through this collaboration, the world is taking an important step towards achieving it.
This partnership will help democratize access to computing power by not only supporting developers, but also allowing people with spare computing power to be rewarded for contributing to the network. "
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ShibaSwap 1.75 was launched ahead of the launch of ShibaSwap 2.0, with lead developer Kusama confirming discussions about future developments with technical experts.

The evolution of ShibaSwap from 1.0 to 2.0 promises a crypto gateway portal, enhanced functionality and improved design that will improve the user experience.
#CertiK certified ShibaSwap as a top DEX in January 2023, validating its security measures and placing it above competitors such as PancakeSwap and #1inch Network.
ShibaSwap's lead developer, Shitoshi #Kusama , frequently shares information about ShibaSwap 1.75, which begins the chain of chips for ShibaSwap 2.0, which is rumored to be released in the near future. Kusama is currently in a discussion with Technoguru X on Shibarium's Telegram channel, where he reveals information about the upcoming progress.
On April 20, Kusama revealed that he is in talks with a respected individual about SHIBU-related issues at an initial level. The SHIBU community has expressed tremendous support for the influential artist who has mentioned the "warm duck" symbolism in his works.
Responding to a question about ShibaSwap 2.0 posed by community member Han, Kusama stated that Pretty Soon will soon have an awesome update. However, he emphasized that version 1.75 will be released sooner in order to build new partnerships and connections. Kusama said: "[ShibaSwap 2.0] will come out when the fun events start, but we needed to make new friends from the beginning.
ShibaSwap, the first decentralized Web3 exchange in the Shiba ecosystem, debuted in July 2021. The exchange allows users to trade and bid on ecosystem gift cards in the form of layers, including tokens such as BONE, #SHIB and LEASH. Starting from scratch, SHIB has attracted a lot of attention: in January 2023, the blockchain security organization CertiK ranked it first among other decentralized exchanges (DEX).
Since the main criticism of ShibaSwap 1.
In addition, ShibaSwap 2.

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Coin's minor rewards rise as new addresses decline

coin's minor rewards rise as new addresses decline
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On the day bitcoin halved, Bitcoin Core contributor Brian Bishop volunteered to replace Luke Dashjar as editor of the Bitcoin Improvement Proposal (BIP). Although it started as a joke, the movement to oust Mr. Dashjr is gaining momentum.

Dashjr is a staunch member of the #bitcoin guard. Bishop, however, is more open to exotic financial instruments: he has worked at the LedgerX futures and options exchange and at Avanti Bank, which is trying to launch its own AVIT stablecoin.
Rumors quickly spread that Bishop wanted to become Bitcoin BIP editor (a voluntary position that doesn't really exist, except out of historical habit and respect for Dashjr's expertise), which was partly true and partly a joke. Dozens of bitcoiners posted short congratulatory replies. Oddly, few of them revealed whether they were in on the joke.
Bitcoin Magazine's David Bailey wore a hat, Dan Held applauded, Base58's Lisa Neugut posted an emoji in the shape of an orange bitcoin heart, and Zach Wall clapped. Meanwhile, Peter Todd simply wrote: "Good choice," and Jonas Schnelly, referencing Star Wars, said: "May BIP be with you! " . .
As Protos previously reported, Wall and his partner Udi Wertheimer are also trying to oust Dashjr as the sole manager of bitcoin's BIP. They are also in favor of relaunching the old bitcoin cryptocurrency OP_CAT.
OP_CAT proposes to redo some of the Satoshi era code. This upgrade will be done with a softfork, which will allow for features that were previously impossible to implement. In particular, it will allow developers to create more powerful bitcoin smart contracts.
So far, Dashjr has refused to assign BIP numbers to the OP_CAT reactivation proposal; according to Wall and Wertheimer, this refusal and the fact that Dashjr actively opposes big data protocols such as ordinaries and BRC20 is reason enough to start a new BIP process, they believe.
To date, the partners have promoted two #binance collections with superscripts for ordinaries, Taproot Wizards and Quantum Cats.

Will bitcoiners be reviewing the BIP process?
The last part of Mr.

Meet the new BIP editors.

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Widely recognized traders believe that one of the Ethereum (ETH) playable projects in this cycle will be Axie Infinity (AXS).

AXS was one of the most successful coins in 2021, gaining 174,900% as the gaming altcoin climbed from $0.10 to $BTC Now the #cryptocurrency traders under the pseudonym Cryptopaul, who have 107,600 followers on social media platform X, have another game they can play and make money from, Heroes of Mavia (MAVIA), which is also backed by several experienced top venture capitalists, and #AXS and has the same potential as AXS.
Traders state.
'Add MAVIA at $3.33. I talked about this game on my Twitter before launch and still think it is the best #web3 game in the cryptocurrency space, moving the game and concept from web2 to web3.
I think the ROI (return on investment) could be 15-20x and it will be the AXS of this cycle - Binance Labs, Hashkey, Delphi Digital, and some of the leading names in this space like Animoca Brands, Merit Circle and Genblock. Funds and venture capitalists are backing most of them.
According to Cryptopolis, in the short term, the $5 area could be the first resistance level for MAVIA to overcome.
"From a TA (technical analysis) perspective, I think we'll see a bounce off $5 soon so we can round out some of the gains and hold the rest. It's a big drop that slammed the market, but it created the great opportunity we're seeing now.
Cryptopaul also says to expect a sharp move in the #binance vs. #binance (ETH/BTC) pair, which is often used as an indicator of altcoin strength.
"This may be the reason for the simple 'buy when there's blood in the streets' rule, but a lot of people find it very difficult to apply. "
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The estate of bankrupt cryptocurrency exchange FTX is preparing for another significant asset sale that will involve Solana tokens (SOL). Unlike previous deals, this time Solana tokens will be sold via auction.

According to Mike Cagney, CEO of decentralized finance company Figure Markets, the company will reveal the exact details of the auction today. The decision to opt for an auction rather than a fixed-price sale reflects a strategic pivot designed to potentially maximize returns for legacy lenders.
What is the price of this #Solana token sale?
FTX's previous Solana token sale brought in $1.9 billion, with each token priced at around $64, as opposed to Solana's current market value of around $150, 67% below market value at the time. As #FTX reported in the summer of 2023, the bankrupt #cryptocurrency exchange held $1.2 billion in Solana as of August 31, 2023. At that time, #SOL was worth US$BTC Figure Markets, led by Cagney, organized a special purpose vehicle (SPV) to allow a wider range of investors to participate in the auction. The SPV will open the doors to non-US and accredited US investors to consolidate and enhance the bidding process.
Cagney's announcement on X (formerly Twitter) is both a call to action and an invitation: "We have confirmed that the next batch of Solana coins from the FTX Estate will be auctioned. If you would like to participate, please do so.
In another post on X's website, Cagney wrote, "So, are you an FTX lender who is upset about the SOL sale? Or are you not a lender but think the recent sales are too cheap? Well, now you can do something about it. " In addition to providing financial opportunities for investors, the initiative gives affected parties a platform to positively influence the outcome of the asset liquidation process.
The locked Solana tokens represent the majority of assets at the time of the FTX collapse and are targeted by buyers looking to speculate on future market movements of these assets.

Jake Simmons has been into #bitcoin since 2016.
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A group of Swiss bitcoin enthusiasts are making a renewed effort to convince the Swiss National Bank (SNB) to include bitcoin in its reserves.

They plan to launch a petition for a referendum on constitutional reform, which will require the signatures of more than 100,000 Swiss citizens.
Yves Bennaim, founder and chairman of 2B4CH, the nonprofit think tank leading the campaign, believes that adding #bitcoin to the SNB's reserves would ensure Switzerland's "sovereignty and neutrality" in an increasingly uncertain world, Swiss media reported, the Neue Zürcher Zeitung (NZZ) newspaper reported.
According to Ben-Naim, organizational arrangements for the establishment of the commission are being finalized and the necessary documents are being prepared for submission to the state chancellor's office.
However, the process is not without its difficulties.
According to the Swiss Constitution, at least 100,000 Swiss citizens must sign in favor of the referendum within 18 months.
This requirement caused difficulties when 2B4CH first tried to hold it in October 2021.
At that time, they amended Article 99-3 of the Swiss Federal Constitution and launched the Bitcoin Initiative to include bitcoin as a reserve currency.
Switzerland has a population of 8.77 million people and approximately 1.15% of locals are expected to support the petition by signing it.
Lucius Meisser, president of Bitcoin Switzerland, a bitcoin-focused trading platform that is collaborating with Benaim's initiative, believes that including bitcoin among the SNB's reserve currencies would signify Switzerland's independence from the European Central Bank and strengthen its neutrality.
Mr. Meisser will have the opportunity to speak about the benefits of including bitcoin in SNB's balance sheet at a conference scheduled for April 26.
However, Mr. Meisser will have only three minutes to speak.
In the past, Mr. Meisser has tried to convince the central bank to allocate 1 billion Swiss francs ($ 1.

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#news #BlockchainFuture