Aurelia Butler

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  • 100 Shares149 Views

    in Cryptocurrency

    Eric Trump predicts bitcoin to reach $1 million

    In a statement made at the Bitcoin MENA conference in Abu Dhabi, Eric Trump projected that Bitcoin’s value will eventually climb to $1 million. His remarks come as the cryptocurrency recently surpassed the $100,000 mark for the first time last week, though it has since adjusted to a current trading price of $98,049. The increase in value represents a significant jump from the $69,374 price point on Election Day.The conference highlighted the ongoing conversations surrounding the incorporation of cryptocurrencies into the global financial system. Eric Trump took the opportunity to commend the efforts of his father, Donald Trump, in creating a regulatory environment in the United States that could potentially lead the world in cryptocurrency regulation.The sentiment aligns with the recent political developments, as President-elect Donald Trump has been actively advocating for a crypto-friendly administration. In line with this stance, last week, he nominated Paul Atkins, a former SEC commissioner during George W. Bush’s presidency, to become the next chair of the Securities and Exchange Commission. Atkins is known for his critical views on excessive market regulation, which he has expressed since his departure from the SEC.Eric Trump’s confidence in Bitcoin’s future growth and the nomination of a new SEC chair with a history of advocating for less stringent market regulations point to a continued interest in fostering an environment conducive to the growth of cryptocurrencies in the U.S. financial landscape.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 125 Shares129 Views

    in Cryptocurrency

    CryptoAutos Announces TGE for $AUTOS Token Following Sold-Out Public Sale

    CryptoAutos, the world’s first blockchain-powered luxury automotive marketplace, has announced the Token Generation Event (TGE) for its native utility token, $AUTOS, scheduled for 11th December 2024 at 12 PM UTC. This event represents a significant development in CryptoAutos’ efforts to enhance the ownership and interaction of high-value assets through blockchain technology.$AUTOS will launch at a fixed price of $0.04, representing a fully diluted valuation (FDV) of $40 million. The token will be available on the Uniswap DEX and multiple CEX’s; KuCoin and Gate.io, ensuring wide accessibility for the global community.Community Launch Achieves $4.5 Million in a Matter of HoursThe TGE announcement follows a successful Community Launch on Fjord Foundry, which raised $4.5 million in just 5.5 hours, with participation from 1,710 $AUTOS buyers. This strong demand reflects interest and trust in the CryptoAutos ecosystem, which combines blockchain innovation with the exclusivity of luxury automotive ownership.Token Claims and Airdrop Distribution DetailsPublic sale participants can claim 100% of their tokens upon TGE through CryptoAutos’ simple claiming process. Detailed instructions are available in the official guide.For winners of the $AUTOS airdrop, Tokens will be automatically airdropped to the wallet connected during the Telegram game as soon as TGE goes live.The Utility and Vision of $AUTOSThe $AUTOS token is integral to CryptoAutos’ blockchain-powered platform, providing a seamless, secure, and efficient way to engage with high-value assets. It facilitates;Key Details for the TGEAbout CryptoAutosCryptoAutos aims to redefine mass adoption in Web3, with a proven track record of $58M in crypto car sales, 180,000 monthly site visits, and over 120,000 whitelisted users. As a leading global automotive marketplace and Real-World Asset (RWA) platform, Crypto Autos bridges Web2 and Web3 by adding real-world utility to digital assets. Through partnerships like TON and BNB, a network of 1,500+ partnered dealerships, and exclusive $AUTOS token utilities, Crypto Autos enables seamless crypto-to-fiat transactions, fractionalized supercar ownership, and AI-powered vehicle insights. The platform is poised for significant growth by leveraging an expanding user base and unique innovations to unlock the future of mobility and crypto investment.For more information, users can visit the links below;This article was originally published on Chainwire More

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    in Cryptocurrency

    Here’s Why Crypto Market Lost $1.6 Billion in Hours

    With the market hitting a key liquidation zone, he said it was game over as stop-losses were triggered in a chain reaction. The overheated market saw funding fees surge, with Open Interest (OI) also soaring as traders took new positions.After this scary sell-off, strong buying pressure reemerged on Ethereum. Traders saw ETH as a safe bet as the coin has a rather smaller drawdown when compared to Bitcoin. The price of XRP dropped by over 12% to as low as $2.06 in the broad-based sell-off. The analyst said XRP still has thin liquidity, thus impacting its spike potential. Amid the sell-off, Cardano (ADA), USDC and FDUSD recorded an insane boost in volume.According to Ash Crypto, the liquidation must have wiped out “weak hands” and allowed smart money to buy the dip at a discount. Ultimately, he projected that the coin’s price is bound to “snap back quickly.”The market still has the right anchors that helped it grow over the past few weeks. MicroStrategy made a big $2.1 billion Bitcoin purchase this week, proof of strong institutional presence on the market.Experts are predicting a swift recovery for the market, with Robert Kiyosaki advocating that people should buy Bitcoin now.This article was originally published on U.Today More

  • 138 Shares99 Views

    in Cryptocurrency

    Group to urge Microsoft to add bitcoin to its balance sheet

    In a landmark event for the tech and cryptocurrency sectors, Microsoft (NASDAQ:MSFT) shareholders are set to consider an unconventional proposal today that could integrate Bitcoin into the company’s financial strategy. The National Center for Public Policy Research’s Free Enterprise Project (FEP) has presented Proposal 5, which urges Microsoft’s Board of Directors to diversify their balance sheets by adding Bitcoin. This move is seen as a hedge against inflation and a step towards preserving shareholder value amidst rising prices and low yields from corporate bonds.Michael Saylor, the Chairman of MicroStrategy and a vocal proponent of Bitcoin, is representing FEP to advocate for the proposal at Microsoft’s annual shareholder meeting. This virtual event is scheduled for today at 8:30am PT. Saylor, who has a substantial following online, promoted the presentation last week and has since engaged in discussions on CNBC and Fox News to drum up support for the proposal.The rationale behind Proposal 5 is the belief that Bitcoin serves as an effective inflation hedge, surpassing the performance of traditional assets like bonds, which currently yield returns below the true inflation rate. FEP contends that ignoring Bitcoin could be detrimental to shareholder value and advises that companies should at least consider allocating a portion of their assets to the cryptocurrency.FEP’s mission is to redirect corporate focus towards generating revenue for shareholders rather than engaging in political activities. The organization asserts that nearly all American corporations, Microsoft included, have not sufficiently addressed the devaluation of corporate assets due to inflation. FEP regards Bitcoin as the most resilient asset against inflation and proposes its adoption to solve this issue. Furthermore, FEP believes that true free enterprise requires stable, tamper-proof currency that is not subject to political influence, a role they argue Bitcoin can fulfill.The National Center for Public Policy Research, established in 1982, operates as a non-partisan, free-market conservative think-tank. It primarily receives support from individual donors, with minimal funding from foundations and corporations. Shareholders and interested parties can access more details about Proposal 5 through FEP’s ProxyNavigator, available on mobile and web platforms.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 150 Shares199 Views

    in Economy

    Factbox-US finalizes more than $6.1 billion funding for Micron under CHIPS Act

    Below is a list of the large awards made so far under the CHIPS and Science Act: POLAR SEMICONDUCTORPolar Semiconductor, owned by Sanken Electric and Allegro (WA:ALEP) MicroSystems, said it would receive as much as $123 million in direct funding. It plans to invest about $525 million over the next two years to double the production capacity of its Bloomingdale, Minnesota facility.TEXAS INSTRUMENTS Texas Instruments (NASDAQ:TXN) will receive as much as $1.6 billion in direct funding to support the construction of three new domestic facilities.MICRON The U.S. Department of Commerce has finalized a subsidy of more than $6.1 billion for the memory chip maker to support the construction of several domestic semiconductor facilities.SAMSUNG The South Korean electronics giant will be provided up to $6.4 billion to expand its facilities in Texas under a preliminary memorandum of terms signed in April.TSMC The U.S. Commerce Department finalized a $6.6 billion government subsidy in November for Taiwan Semiconductor Manufacturing Co’s U.S. unit for semiconductor production in Phoenix, Arizona.INTELThe U.S. Commerce Department said in November it was finalizing a $7.86 billion government subsidy for Intel (NASDAQ:INTC), down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon.GLOBALFOUNDRIESIn November, the U.S. finalized a $1.5 billion government subsidy for the world’s third-largest contract chipmaker to build a semiconductor production facility in Malta, New York and expand existing operations there and in Burlington (NYSE:BURL), Vermont.MICROCHIP TECHNOLOGY The company will get $162 million in government grants, it was announced in January, allowing the company to triple production of mature-node semiconductor chips and microcontroller units at two U.S. factories. More

  • 88 Shares169 Views

    in Economy

    Can robots replace humans in monetary policy?

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

  • 163 Shares199 Views

    in Cryptocurrency

    ‘Rich Dad Poor Dad’ Author: ‘Biggest Crash in History Coming. Buy Bitcoin Now’

    In his tweet, Kiyosaki mostly addressed those who were born in the Baby Boomer generation, like him, since Bitcoin is a completely new and mind-boggling asset for them.So far, Kiyosaki pointed out, boomers have been lucky, namely that in the 1970s they caused the real estate market to boom and the same happened to the stock and bond markets thanks to boomers’ 401k retirement program. However, in the 2020s, per the “Rich Dad Poor Dad” author, “BOOMER’s old age will cause real estate and stock and bond market BUST.”While he was also born in the generation of Baby Boomers, Kiyosaki admits, he does not consider his house to be an asset, nor does he count on the 401k program to provide funds for him during retirement.Kiyosaki’s advice to boomers is as follows: “Before the CRASH that is coming…and buy gold, silver, and Bitcoin now.” The financial guru bets not only on Bitcoin but also on gold and silver.“The biggest crash in history is coming. Please be proactive and get rich,” Kiyosaki tweeted. He made this warning while Bitcoin has surpassed the $100,000 mark for the first time in history.As for 10 years from now, Kiyosaki said he agreed with Michael Saylor in his prediction that Bitcoin will have taken part of the market cap away from gold and reached a whopping $13 million per digital unit by then.This article was originally published on U.Today More

  • 125 Shares99 Views

    in Economy

    Government debt glut could rock markets in 2025, BIS says

    LONDON (Reuters) – The threat of soaring government debt supply destabilising financial markets has intensified, the world’s top central banking advisory body said on Tuesday, as it urged policymakers to act swiftly to prevent economic damage. Claudio Borio, head of the Bank for International Settlements’ monetary and economic department, said he was on alert for a government debt glut causing bond market ructions that could spill over into other assets. And while markets have not yet suffered so-called “bond vigilante” attacks, where debt investors send state borrowing costs sharply higher to force nations away from fiscal profligacy, policymakers should not wait for this to happen, he said. “Financial markets are beginning to realise they will have to absorb these growing volumes of government debt,” he said as the BIS published its latest quarterly report. “It takes time for policymakers to adjust policies and if they wait for markets to wake up, it’s going to be too late.” Large government budget deficits suggest that sovereign debt could rise by a third by 2028 to approach $130 trillion, according to the Institute of International Finance (IIF) financial services trade group. U.S. President-elect Donald Trump’s proposed tax cuts are expected to swell the nation’s $36 trillion debt pile by almost $8 trillion, while the UK’s new Labour government in its October budget raised previous five-year borrowing estimates by about 142 billion pounds ($181.55 billion). Bond fund PIMCO said on Monday it plans to diversify its government bond exposure by buying outside the United States, where its outlook on long-term government debt is bearish due to a deteriorating fiscal profile. The BIS report also cited political turmoil over France’s budget deficit and expansionary policy in Japan as reasons for “the re-emergence of fiscal concerns.” The yield on the 10-year U.S. Treasury, which influences price movements in sovereign, corporate and household debt worldwide, has risen by about 56 basis points (bps) since September, to around 4.22%. Traders widely anticipate a Federal Reserve rate cut this month but the BIS report said there was a supply-demand imbalance in the Treasury market, with dealers holding record amounts of unsold U.S. government debt on their books. With U.S. Treasury investors facing the twin perils of debt oversupply and stimulus spending boosting inflation, there were “more reasons to be worried now” than when the BIS cautioned about sovereign debt earlier this year, Borio said. The depth and liquidity of the $28 trillion Treasury market could insulate it from a sudden sharp rise in debt yields for some time, Borio said.”But it does mean that once (warning signs) show up, the impact on the global economy is bigger,” he added. Elsewhere in its report, the BIS noted increasing uncertainty about where global interest rates would settle as major central banks embark on cuts but the global economy remains resilient, buoyed by strong U.S. growth. Global credit conditions remain “unusually accommodative,” the report noted, and U.S. bank lending standards have loosened after the Nov. 5 election while Wall Street stocks rallied. The BIS noted that higher volatility in currency markets had reduced the incentive for traders to rebuild their positions following a sharp unwind in August of so-called carry traders that sparked ructions across world markets.($1 = 0.7822 pounds) More