Pieter Wuille and Gregory Maxwell Receive The Finney Freedom Prize

The Human Rights Foundation, in collaboration with the Finney family, has awarded Pieter Wuille and Gregory Maxwell the prestigious Finney Freedom Prize for their groundbreaking contributions to Bitcoin usability, scalability, and privacy. The prize recognises their work during the 2012-2016 era, corresponding to Bitcoin’s block height of 210,000 to 420,000.

The Finney Freedom Prize honours individuals who advance the computer as a tool for protecting individual freedoms worldwide, following in the footsteps of Bitcoin pioneer Hal Finney, who was the first recipient of the award.

An independent committee selected Wuille and Maxwell from a shortlist that included notable bitcoin…

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US gov has to follow a ‘strict process’ before unloading $6.5B of bitcoin

This is a segment from the Empire newsletter. To read full editions, subscribe.

Don’t panic. 

That’s the gist of the message from Asset Reality’s Aidan Larkin on this week’s Empire Roundup. Jason Yanowitz and Santiago Santos specifically asked him about all that US government bitcoin.

Basically, the recent court approval is par for the course for any civil forfeiture. And, no, it doesn’t mean that the US is immediately hitting the sell button.

 ”There’s a very strict process that has to get followed,” Larkin said. 

“ At some point in the future, it’ll just go through the normal government processes. There will be a civil forfeiture…

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Bitcoin Fights To Regain $94,000: What Does Technical Analysis Say?

Bitcoin BTC/USD is seeing volatile trading on Friday, briefly regaining the $95,000 market before slumping below $94,000 on a hotter-than-expected jobs market report.

What Happened: The apex cryptocurrency is trading down 2% over the past 24 hours, having visited the $92,000 and $95,000 marks within this timeframe.

Prominent technical analyst DonAlt remains somewhat upbeat about its prospects, despite current volatility.

In his latest technical analysis podcast published on Wednesday, DonAlt acknowledged that recent pullbacks have caused concern but stressed that Bitcoin’s high timeframe charts remain strong.

He suggests the reaction to recent dips might be overblown,…

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Have Bitcoin ETFs Lived Up to the Hype?

The launch of Bitcoin ETFs in January 2024 was heralded as a groundbreaking moment for the market. Many expected these products to open the floodgates for institutional capital and catapult Bitcoin prices to new heights. But now, a year later, have Bitcoin ETFs delivered on their promise?

For a more in-depth look into this topic, check out a recent YouTube video here: Have Bitcoin ETFs Lived Up to Expectations?

A Strong Start

Since their launch, Bitcoin ETFs have accumulated over 1 million BTC, equivalent to approximately $40 billion in assets under management. Even when accounting for outflows from competing products like the Grayscale Bitcoin Trust (GBTC), which saw withdrawals of over…

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LATEST: CleanSpark Becomes Fourth Largest Corporate Holder of Over 10,000 BTC

CleanSpark, a pioneer in Bitcoin mining, has reached a new high by amassing over 10,000 BTC in its corporate treasury, a monumental achievement announced on January 9. The firm’s current holdings stand at 10,097 BTC, all mined within the United States, marking a remarkable 236% increase from last year. This growth positions CleanSpark as the fourth-largest corporate Bitcoin holder worldwide, edging past Hut 8 Mining and trailing giants like Marathon Digital and Riot Platforms.

Company CEO Zach Bradford attributed this success to meticulous strategic planning and operational prowess. He highlighted the firm’s commitment to scaling its operations responsibly, with a focus on disciplined capital management. Bradford proudly noted that each Bitcoin was sourced using American energy, supporting domestic jobs and showcasing the company’s dedication to sustainable and innovative growth within the global Bitcoin ecosystem.

Echoing Bradford, CFO Gary Vecchiarelli emphasized the importance of prudent financial strategies and risk management. He stressed the company’s strategy to leverage Bitcoin holdings to reduce capital costs and avoid adverse counterparty risks, underscoring CleanSpark’s forward-thinking approach in the burgeoning crypto economy.

Source

Election swayed advisers, but crypto adoption has room to run

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

After witnessing the post-election rise in crypto asset prices and ETF flows, here’s another data point backing up a sentiment shift: 56% of 430 surveyed financial advisers say they’re more likely to allocate to the space because of the November results. 

This number came from the Bitwise/VettaFi report we referenced a couple times this week as the companies teased findings before the formal release.

We mentioned, for example, that just 35% of advisers say they’re able to buy crypto for client accounts. Looking a bit deeper, 71% of these financial pros said at least some of…

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Is the Fed’s rate-cutting cycle over?

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

Back in September, the market priced one of the most aggressive cutting cycles I’ve ever seen, with multiple 50-basis point cuts priced in that would swiftly take us to 3% on the fed funds rate in 2025. Fast forward to today, and it’s a completely different story, with one to two cuts at best priced for 2025.

Let’s dig into what has driven the change and what to expect.

Below is a chart that compares the effective federal funds rate (EFFR) against the two-year Treasury note. 

There’re a few takeaways we can grab from comparing these two yields:

Throughout the last… Read more on Blockworks