Ether price action targets all-time highs amid excitement over BitMine's giant accumulation plan, shifting the focus away from rangebound Bitcoin. Key points: Ether gains nearly 6% on the day as BitMine ups its ETH accumulation plans to nearly $25 billion. Chairman Tom Lee gets Michael Saylor comparisons as analysis says ETH price action is “defying gravity.” Read more
AI systems are already ignoring shutdown commands. Decentralized audit trails are needed to prevent centralized AI from becoming humanity’s Skynet. Opinion by: Phil Mataras, founder of AR.io Artificial intelligence in all forms has many positive potential applications. However, current systems are opaque, proprietary and shielded from audit by legal and technical barriers. Control is increasingly becoming an assumption rather than a guarantee. Read more
Stablecoin laws are popping up all over the globe, but their differences could spell trouble for cross-border crypto projects. Stablecoins have been regulated in different ways across the globe, raising concerns about their viability and possibly putting up barriers for newcomers. Europe’s framework, Markets in Crypto-Assets (MiCA), varies significantly from the US’s GENIUS Act. Both are distinct from Hong Kong’s own stablecoin rules, which were finalized just two weeks ago. These three regulatory frameworks have provided clear standards for stablecoins. Reserve requirements, issuer licensing and permit schemes now have cut-and-dry conditions, which have undoubtedly made it easier for stablecoins to flourish. Read more
The Terraform Labs co-founder was indicted in 2023 on nine charges related to the collapse of the ecosystem, resulting in an estimated $40 billion in losses. Terraform Labs co-founder Do Kwon has changed his plea from not guilty to guilty on two counts of wire fraud and conspiracy to defraud. According to reporting on Tuesday from the US District Court in the Southern District of New York (SDNY), Kwon waived his right to go to trial on two of the nine charges he has been facing from the US government and pleaded guilty. The reported plea agreement with prosecutors would impose $19 million in financial penalties. The two felony charges could carry up to a 25-year prison sentence if served consecutively, but the agreement reportedly would have prosecutors not recommend more than 12 years. Kwon’s sentencing hearing was scheduled for Dec. 11. Read more
NBA legend Scottie Pippen reveals his friend Michael Saylor advised him to stop talking publicly about his dream conversations with Satoshi. One of the greatest NBA basketball players of all time, Scottie Pippen recently got a stern warning from Strategys executive chairman, Michael Saylor. This wasnt just any ask; its tied to one of the biggest mysteries in Bitcoin. My guy, Michael Saylor, asked me not to speak on my conversations with Satoshi, Pippen tells Magazine. Read more
Corporate Ether buying accelerates as BitMine and SharpLink raise cash, with ETH nearing record highs and institutions targeting a larger share of supply. The corporate Ether acquisition race is accelerating as the world’s two largest Ether treasury firms are raising capital to acquire more of the world’s second-largest cryptocurrency, which is nearing its previous all-time high. Public Bitcoin (BTC) mining firm BitMine Immersion Technology is looking to raise $24.5 billion through a new at-the-market (ATM) stock sale offering to acquire more Ether (ETH) tokens, according to a Tuesday US Securities and Exchange Commission filing. BitMine’s offering comes the same day as corporate crypto treasury firm SharpLink completed a $389 million capital raise from common stock shares sold for select institutional investors, according to another SEC filing. “We intend to contribute substantially all of the cash proceeds that we receive to acquire ETH,” the filing said. Read more