Follow Aaron on Nostr or X.
Earlier this month, the European Central Bank (ECB) published a paper in which the authors claim the existence of Bitcoin could impoverish non-holders and latecomers.
Specifically, they wrote:
“Since Bitcoin does not increase the productive potential of the economy, the consequences of the assumed continued increase in value are essentially redistributive, i.e. the wealth effects on consumption of early Bitcoin holders can only…
Read more on BitcoinMagazine
WHAT WE ARE READING: Funding Bitcoin
I recently stumbled upon a fantastic report from 1A1z on “Funding Bitcoin.” I was surprised to learn that Jack Dorsey funds over 60% of Bitcoin Core’s development via different organizations: over $5 million annually, out of a total of only $8.4 million in funding. Wild, right? For a $1.2 trillion asset, I expected way more diverse support.
Now, you might be worried that that concentration risks him having too much sway. If…
Read more on BitcoinMagazine
El Salvador’s President Nayib Bukele, a prominent advocate of Bitcoin, has recently donated two Bitcoins, valued at approximately $133,000, to aid the construction of 1,000 schools in Honduras. The recipient, philanthropist Shin Fujiyama, founder of Students Helping Honduras, is dedicated to combating poverty via educational projects. Fujiyama, who is currently engaged in a 3,000-kilometer charity run to fund this initiative, praised Bukele’s support in an emotional video, highlighting the impact of such contributions on the community’s future.
This gesture aligns with Bukele’s strategic push to incorporate Bitcoin into El Salvador’s economic framework, having legalized it as tender in 2021. The president’s consistent efforts to use Bitcoin for positive societal change underline his commitment to leveraging cryptocurrency for broader economic and humanitarian benefits.
Despite facing hurdles in Bitcoin’s domestic integration, Bukele’s administration continues to champion its potential, underscoring a firm policy to purchase one Bitcoin daily. This recent donation is not just a testament to Bukele’s faith in cryptocurrency but also a significant boost for educational development in neighboring Honduras.
Michael Saylor, founder of MicroStrategy and notable Bitcoin proponent, has reaffirmed his support for crypto self-custody, emphasizing the right to choose how to store digital assets. This comes after his earlier comments endorsing regulated custody options like BlackRock and Fidelity drew sharp criticism from the crypto community. Saylor clarified on X, stating, “I support self-custody for those willing and able, the right to self-custody for all, and freedom to choose the form of custody and custodian for individuals and institutions globally.”
The crypto community reacted strongly, with Ethereum co-creator Vitalik Buterin and other prominent figures denouncing Saylor’s initial support for regulation-heavy solutions. Buterin labeled the approach as potentially harmful to the essence of cryptocurrency, which thrives on decentralization and minimal regulatory interference. This sentiment was echoed by Casa co-founder Jameson Lopp, who highlighted the importance of self-custody in maintaining network security and fostering innovation.
Saylor’s recent statements seek to bridge his views with those advocating for minimal regulatory influence, arguing that Bitcoin can benefit from diverse investment strategies, including those involving traditional financial entities. As the debate continues, the adoption of crypto products like spot Bitcoin ETFs is gaining momentum, signaling a growing integration of cryptocurrencies within conventional investment frameworks.
Over seven months later, Nigeria has finally dropped the charges against Binance executive Tigran Gambaryan, according to multiple media reports.
The Nigerian government charged Gambaryan alongside his employer with money laundering violations, though the case was primarily focused on Binance. The crypto exchange previously denied the charges.
Just a few months before, the government also dropped tax evasion charges it had also filed against both Gambaryan and Binance.
Read more: Binance’s woes in Nigeria continue to mount
The same day that the government dropped the charges against Gambaryan, the US announced a “bilateral liaison” with Nigeria focused on crypto and illicit…
Read more on Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
Plenty of people feel strongly about the tokenization/RWA space that appears poised to one day transform financial services — even if that change takes years to play out.
A bunch of those takes were expressed during day one of the RWA Summit in Brooklyn on Tuesday, as the promises and projections for the segment were both touted and questioned.
RWA, if you forgot, is short for real-world assets. In this context, it refers to the efforts to bring tokenized versions of such assets — from bonds to real estate — onto blockchains.
We have seen some big projections, with Standard Chartered, for…
Read more on Blockworks