MicroStrategy stock has advantages over planned spot bitcoin ETFs: Saylor

MicroStrategy founder Michael Saylor seems unafraid of spot bitcoin ETFs making his company’s stock obsolete if and when they launch.  

Rather, the executive believes that the approval of such funds, which the Securities and Exchange Commission has not previously permitted, would be “a catalytic event” that could benefit entities in the segment, including MicroStrategy.

While certain types of investors would gravitate toward bitcoin ETFs, MicroStrategy stock offers a way to get bitcoin exposure with benefits such funds won’t offer, Saylor argued during MicroStrategy’s third quarter earnings webcast Wednesday.

Spot bitcoin ETFs would provide an onramp for Wall Street capital…

Read more on Blockworks

Ordinals Explained | What are Ordinals? Episode 2


Defining Bitcoin OrdinalsThe Role of Ordinals in Bitcoin

Bitcoin ordinals refer to the unique identification numbers assigned to each satoshi on the blockchain. They serve as a timestamp and help establish the order in which satoshis occur. Ordinal theory enables participants to verify the chronology of satoshis, ensuring that the network reaches a consensus on the state of the blockchain.

When a Bitcoin transaction takes place, it is recorded on the blockchain, which is essentially a decentralized ledger. Each satoshi is assigned a unique ordinal number, which acts as a digital fingerprint. This ordinal number is generated using complex cryptographic algorithms, making it virtually…

Read more on BitcoinMagazine

FCA releases guidance for compliance with new UK crypto asset promotion rules

Rules for crypto asset promotion that came into force in the United Kingdom on Oct. 8 have led to some confusion, judging from the low level of compliance. The Financial Conduct Authority (FCA) responded with additional guidance for crypto firms to help them fall into line.

The FCA released “finalized non-handbook guidance” to compliance with the rules for crypto firms on Nov. 2. It also provided the regulatory agency’s response to industry feedback. FCA director of consumer investments Lucy Castledine said in a statement:

“While the new rules for firms marketing crypto to UK consumers are aligned with the existing rules for other high-risk investments, we’ve engaged extensively… Read more on Cointelegraph

Top 10 Trending Crypto Coins of The Day

  1. Arbitrum: Market Cap of $1.2 Billion.
  2. Polygon: Market Cap of $6.0 Billion.
  3. Celestia: Market Cap of $326 Million.
  4. IQ: Market Cap of $95 Million.
  5. Dione: Market Cap of $27 Million.
  6. GALA: Market Cap of $501 Million.
  7. Solana: Market Cap of $17.3 Billion.
  8. Bitrock: Market Cap of $11 Million.
  9. Render: Market Cap of $841 Million.
  10. SafeMoon: Market Cap of $30 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

Solana’s Jupiter Exchange set for token launch

The Solana-based swap aggregator Jupiter Exchange is releasing a native token. 

Announced during the Solana Breakpoint conference, the news came with a pledge that a majority of the forthcoming JUP token will be released to the public via community airdrop and a token sale. 

Jupiter is a swap aggregator, a platform used to gather liquidity for traders seeking the best possible prices with minimal slippage.

The protocol’s internal tracker reports $103 million in volume over the past 24 hours. Jupiter’s swap aggregation service has likely been buoyed by a recent uptick in Solana DeFi activity.

Read more: Solana ‘roast’ reveals painful truths

“Jupiter has been the leading DEX…

Read more on Blockworks

Prosecution makes closing argument against SBF

The government presented its rebuttal against Sam Bankman-Fried on Nov. 2 in response to statements made by his defense during the closing arguments a day earlier.

A jury of 12 will receive final instructions in the Southern District Court of Manhattan on Nov. 2, with a verdict expected by 8:00 pm local time. The jury will receive pizza and transportation if their verdict comes after court hours, according to District Court Lewis Kaplan.

As the trial of @SBF_FTX draws near its conclusion, the prosecution and defense lay down their final arguments. https://t.co/csFJ5AAZxm

— Cointelegraph (@Cointelegraph) November 1, 2023

Speaking on the court, ​​U.S. Assistant Attorney Danielle…

Read more on Cointelegraph

Bitcoin Magazine and Nitrobetting.eu Present "The Bitcoin Halving Challenge"

NitroBetting.eu, a leading Bitcoin-exclusive sportsbook, has joined hands with Bitcoin Magazine to introduce an exciting new contest, The Bitcoin Halving Challenge.

This innovative contest offers participants a unique opportunity to put their Bitcoin market prediction skills to the test. A pool of 50 winners with the most accurate predictions will share a total prize of 1 Bitcoin.

The contest opened for registration on Wednesday, November 1, 2023 and will remain open until March 31, 2024, at 11:59 pm EST. Interested participants can submit their guess at www.bitcoinhalving.com.

Anyone over 18 years old can participate. To qualify for the prize pool and be eligible for withdrawal of…

Read more on BitcoinMagazine

Before They Were Cool: Covenants In Production Nn Liquid

Ever since the Bitcoin community embarked on discussions surrounding the optimization of covenants, there’s been a growing interest in learning more about their tradeoffs and the covenants already deployed on the Liquid Network.

In light of this renewed interest and to encourage further discussion, let’s review some of Liquid’s current covenant offerings, comparing them with the leading proposals on Bitcoin and examining their respective use cases.

History of Covenants on Liquid

Covenants on Liquid can be traced back to the deployment of the first Elements sidechain, Alpha. This sidechain introduced the opcodes OP_CHECKSIGFROMSTACK (CSFS) and OP_DETERMINISTICRANDOM along with a number of…

Read more on BitcoinMagazine

Phones and the internet aren’t blamed for terror finance. Crypto shouldn’t either.

Hamas’ blatant terrorist aggression that claimed more than 1,400 lives and the graphic videos emerging from Israel triggered vivid memories for me. Growing up in the suburbs of New York City, my friends and family were directly impacted by the atrocities of Sept. 11, 2001. As a Marine Officer, some of my closest friends were killed and wounded in the wars that followed.  

In 2004, I served in the hell of Ar Ramadi, Iraq. By that time, Al Qaeda had infiltrated the city, inflicting unspeakable and gruesome acts of terror on its residents, and in my Marine Corps infantry unit, the casualties mounted. 

Having witnessed these horrors, I have no tolerance for terrorism and condemn those…

Read more on Blockworks

As Uniswap fees accumulate, other trading platforms join the fray

Uniswap Labs has seen $764,000 in revenue since enabling fees on some Uniswap trades two weeks ago, according to Blockworks Research. But it’s not the only DeFi platform to toy with enabling the fee switch.

In recent weeks, Osmosis, Blur, and Hashflow have also received proposals to introduce trading fees. One industry participant said the growing interest in fees is a sign that DeFi is maturing towards a focus on revenue. However, another speculated that fees may be impractical when trading platforms can be duplicated.

Last month, the DeFi giant Uniswap Labs began charging fees on trades through its interface involving certain asset pairs. The interface fee is in addition to the…

Read more on Blockworks