Argentina Finance Minister Beats Milei: Second Round Looms

In the first round of Argentina’s presidential election on October 23, Javier Milei, self-identifying as an anarcho-capitalist, faced an unexpected defeat at the hands of centrist finance minister Sergio Massa.

Finance Minister Takes the Lead

Milei has rallied for a reduction in government size and the complete elimination of the country’s central bank, which he considers a scam. In a similar vein to Bitcoin-friendly El Salvador, he plans to replace the peso, but with the US dollar. He has also characterized Bitcoin as a solution to what he calls “central bank scams” and argues that fiat currency enables politicians to exploit the country’s population through inflation.

In…

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Bitcoin Education’s Significance In Driving Mass Adoption

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Peter Schiff Says Bitcoin’s Rally To $34K May Peak If GBTC Converts To ETF, Predicts Potential Selloff

Gold bug Peter Schiff expressed his opinion on the current state of Bitcoin BTC/USD trading and the potential impact of the approval of a Bitcoin Exchange-Traded Fund (ETF) by the Securities and Exchange Commission (SEC). 

What Happened: Schiff noted that Bitcoin is currently trading around $34,250, with speculators betting on the SEC’s approval of the Grayscale Bitcoin Trust (GBTC) converting into an ETF.

Schiff warned that if the conversation about the ETF approval takes place, it could potentially mark the peak of the Bitcoin rally. “Bitcoin is now trading at $35K as speculators bet on SEC approval of GBTC converting into an ETF.  Such a conversation will likely mark the top of the…

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Bitcoin Price Up 1.6 Million Percent Since Infamous Nick Allen 'Mess Tweet'

They say time heals all wounds – not in Bitcoin.

As documented by Bitcoin Historian Pete Rizzo, tomorrow marks the 12th anniversary of a now-infamous tweet by Nick Allen back in 2011, one that demonstrates the remarkable growth and resilience of the cryptocurrency over the past decade.

The tweet in question, posted on October 25, 2011, by technologist Nick Allen, expressed disbelief at Bitcoin’s value, which was “down to $2.70 a pop.” Allen went on to say he was “so glad I didn’t buy in on that mess.”

At the time of the tweet, Bitcoin was trading at $2, and it’s up some 1,600,000 percent since that date.

Fast forward to today, and Bitcoin’s price has soared to nearly $35,000 per coin,…

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Cathie Wood’s ARK sells Grayscale Bitcoin Trust shares as BTC hits $34K

Investment firm ARK is selling Grayscale Bitcoin Trust (GBTC) shares amid a market surge fueled by anticipation of a spot BTC exchange-traded fund (ETF).

On Oct. 23, ARK — headed by pro-Bitcoin (BTC) investment veteran Cathie Wood — sold 100,739 GBTC shares ($2.5 million) from ARK Next Generation Internet ETF (ARKW), according to a trade notification seen by Cointelegraph.

The transaction comes as GBTC touched multi-month highs, reaching $24.7 for the first time since May 2022. According to data from TradingView, GBTC has surged more than 200% year-to-date and is up nearly 30% over the past 30 days.

The GBTC sale marks ARK’s first officially reported GBTC transaction since November…

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Lightspark hopes Bitcoin Lightning payment standard will strike interest

Bitcoin Lightning network-based business payments service Lightspark threw its support for the new Universal Money Address (UMA) standard on Monday, positioning it as a game-changer in making global payments as “easy as sending an email.”

The open-source initiative facilitates real-time settlement while incorporating compliance messaging and foreign exchange capabilities for fiat currencies.

Launched last week, UMA is being touted as an extension of LNURL, a standard protocol designed to simplify the process of making payments, according to its GitHub repository.

UMA boasts secure transactions and open payments in any currency, leveraging bitcoin’s global liquidity, for…

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Largest DeFi protocol on Solana reportedly quits UK market citing FCA rule

Marinade Finance, the largest decentralized finance (DeFi) protocol running on the Solana blockchain, has reportedly started blocking users from the United Kingdom. U.K. customers discovered the problem on Oct. 23. While trying to access Marinade’s website from a local IP, one encounters the block page with a message:

“Access to this site is unavailable in the United Kingdom due to compliance concerns relating to rules and regulations promulgated by the U.K. Finance [sic] Conduct Authority. Users may withdraw liquidity, claim delayed tickets, or delay unstake via our SDK.”

Marinade Finance has around 75,000 users and holds a total value of $241 million, which accounts for 70% of all…

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If You Had Invested $100 In Bitcoin When It Was Last Declared Dead, By Chamath Palihapitiya, Here’s How Much You’d Have Today

Venture capitalist Chamath Palihapitiya, in April 2023, pronounced the death of Bitcoin BTC/USD, declaring that “Crypto is dead in America,” in an episode of the All-In Podcast.

What Happened: These remarks align with a long-standing trend of skeptics who have repeatedly sounded the death knell for the apex cryptocurrency.

According to 99 Bitcoins, a source that monitors crypto obituaries, there have been a staggering 474 instances where individuals have proclaimed “game over” for blockchain technology. 

Palihapitiya had blamed the demise of cryptocurrencies on regulatory bodies, particularly the Securities and Exchange Commission (SEC). “The United States authorities have firmly…

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Bitcoin price surge sees significant asset outflow on crypto exchanges

Major crypto exchanges recorded a net outflow on Oct. 24 as Bitcoin price briefly touched the $35,000 mark for the first time in a year. The movement of funds away from exchanges is considered a bullish sign as traders move their assets away from the centralized platforms in anticipation of a price surge.

According to data shared by crypto analytic firm Coinglass, Binance saw the biggest outflow with over $500 million moving off the exchange over the past 24 hours followed by crypto.com with $49.4 million in outflow followed by OKX with $31 million in outflow. Most other exchanges recorded below $20 million outflow.

Outflow from crypto platforms in recent times has led to “bank run”…

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