Cryptocurrency

A new HBO documentary about Bitcoin’s origins argues that Satoshi Nakamoto, the pseudonymous creator of BTC, is most likely Canadian software developer Peter Todd.Called “Money Electric: The Bitcoin Mystery,” the 100-minute video released on Tuesday comprises interviews with several people who have been engaged with Bitcoin since the beginning, including long-time Satoshi contender Adam Back, investor Roger Ver, Samson Mow and Peter Todd.Reacting to the HBO documentary, an X user asked Schwartz directly: “Didn’t you know and work with all of these guys, David? No mention of you in this documentary.” The user referred to the people closely involved in Bitcoin’s creation. Schwartz responded, “Not really, I didn’t get involved until mid-2011.”When rumors of him being Satoshi began to surface in 2020, Schwartz stated that it was plausible to believe he was one of the individuals involved in the invention of Bitcoin, but he was not.The Ripple CTO claims he may have been a member of “Satoshi” — a group that created Bitcoin — and also that he first learned about the world’s first cryptocurrency later, in 2011.Since the inception of Bitcoin in January 2009, there has been significant discussion over who Satoshi Nakamoto is, whether a person or a group. Over the years, several publications have speculated that Satoshi Nakamoto could be anyone and everyone.Even if Satoshi Nakamoto has not been heard of since 2011, he or they are still important. Satoshi Nakamoto’s wallets contain approximately one million Bitcoin, which is worth over $62.4 billion at current pricing.Cullen Hoback, the HBO documentary’s author, guessed that Peter Todd is Satoshi Nakamoto based on circumstantial evidence, such as postings from an early Bitcoin forum; Todd has personally denied this. This article was originally published on U.Today More

The investment fund Banana Capital PTE. LTD., specializing in effective asset management through proprietary Web3 strategies, is proud to announce plans to increase its funding to $100 million for an updated AI-driven DeFi strategy.By leveraging varying hedging techniques, the company has been able to maximize capital efficiency and address the risk of impermanent loss in decentralized exchange (DEX) liquidity pools, achieving an average annual return of 61.13% in retrospective analysis from 2021 to 2023.Banana Capital at a GlanceBanana Capital is an investment fund that aims to help investors manage capital, reduce risk, and work to achieve consistent high returns through proprietary Web3 strategies.With experience dating back to 2017, the fund offers solutions to assist in preserving and growing capital. The firm emphasizes risk management and diversification in its solutions to try and generate steady capital growth, even amid the volatility of the cryptocurrency market.Understanding Decentralized Finance (DeFi)DeFi, a fast-growing sector in Web3, offers blockchain-based alternatives to traditional financial products. By utilizing blockchain technology, these products are more secure, faster, and more cost-effective compared to their Web2 counterparts, opening up new earning opportunities.A decentralized exchange (DEX) is a type of cryptocurrency exchange that operates without a central authority or intermediary. It allows users to trade cryptocurrencies directly with each other on a peer-to-peer basis, using smart contracts to ensure secure and transparent transactions.Flagship Liquidity Providing Strategy in DeFi ProtocolsThe strategy involves Banana Capital providing assets on decentralized exchanges (DEX) through liquidity pools. When users on these platforms trade cryptocurrency assets, they pay transaction fees. These fees are distributed to the fund as rewards for providing liquidity. In other words, the fund facilitates asset swaps for traders and earns a portion of the fees from their transactions.Banana Capital’s primary strategy involves providing liquidity to DEXs. As traders exchange assets on these platforms, transaction fees are distributed to liquidity providers. This approach aims to enhance capital efficiency and mitigate risks in volatile markets through hedging techniques, with a focus on protecting underlying assets and ensuring stable returns.Historical Performance ChartSource: https://bananacapital.fund/Plans for Enhancing Strategic MechanismsBanana Capital continues to improve its strategies and algorithms, by aiming to optimize position management and in developing proprietary software. The fund is actively working on an IT solution that enables the efficient management of capital and liquidity pools with any portfolio assets.One of the challenges of providing liquidity to DEX pools is the lack of a unified, user-friendly aggregator where metrics like APR, TVL, and trading volume can be easily assessed to choose the best configurations for a given strategy. Additionally, timely repositioning is a crucial factor for optimizing pool management, especially at larger volumes.Thanks to a strong team of mathematicians, Banana Capital has developed a technical solution that effectively addresses these issues by managing liquidity pools through automated tools.Comment from Dinar Faskhutdinov, CEO of Banana CapitalFor more information on Banana Capital, readers can please visit bananacapital.fund.Press contact: Anastasia, PR Director: anastasia@bananacapital.fundReaders can connect with us on social media:X: https://x.com/Banana_FundLinkedIn: https://www.linkedin.com/company/banana-fundTelegram: https://t.me/bananacap_annContactPR DirectorAnastasiaanastasia@bananacapital.fundThis article was originally published on Chainwire More

Bybit, the world’s second-largest crypto exchange by trading volume, is proud to announce the successful completion of bbSOL’s first month, marking a milestone in its mission to advance token staking on the Solana blockchain. As the first exchange-backed liquid staking token (LST) on Solana, bbSOL has gained momentum, attracting attention for its marketing strategies and integration across both centralized and decentralized platforms.Since its launch, bbSOL has positioned itself as a noticeable figure in the Solana ecosystem due to its position at the intersection of centralized finance (CeFi) and decentralized finance (DeFi). Key Milestones of bbSOL’s First Month:Total Value Locked (TVL) Surpasses 85 million: bbSOL has outpaced other exchange-backed staking tokens in TVL, underscoring its appeal to users and highlighting its growing influence within the Solana ecosystem. This surge in TVL reflects the token’s robust adoption and Bybit’s commitment to delivering staking opportunities for its users.Expanded Accessibility: bbSOL will be listed on Bybit Spot on 10 Oct 2024, 10AM UTC broadening user access to both trading opportunities and liquidity rewards across multiple ecosystems. By bridging the gap between Bybit’s centralized exchange and the broader DeFi landscape, bbSOL offers a streamlined experience for token holders.Strategic Partnerships: In addition to its availability on Bybit Spot, bbSOL has partnered with Jupiter Exchange, Solana’s leading swap aggregator, enhancing liquidity options and making bbSOL more versatile for users looking to trade efficiently within the Solana ecosystem.This article was originally published on Chainwire More

The standards, announced by Beth Haddock, Global Policy Lead at Stablecoin Standard, at the Annual Flagship Event in Singapore, were designed to promote operational resilience, transparency and consistent issuer commitments globally. Stablecoin Standard’s Policy Working Group created the high-level standards that are both general and actionable, while being sensitive to the innovation in the market. Quotes from Endorsers:Stablecoin Standard (SCS) is the industry body focused on setting operational, transparency, and product related standards for stablecoins. The SCS plans to achieve industry wide standards by sharing international best practices, business development use cases, forming industry led working groups defining what a high-quality liquid stablecoin should look like, and engaging with policymakers domestically & internationally. The SCS ecosystem consists of over 30 advisory board members, industry partners and issuers that offer digital currencies in global jurisdictions such as the US, EU, Singapore, Australia, and Turkey – among others.Users can follow the Stablecoin Standard on LinkedIn and X and to learn more, please visit: https://stablecoinstandard.com/ContactKevin McGrathstablecoinstandard@mgroupsc.comThis article was originally published on Chainwire More

Large holders are acting, as seen by the $15.6 million movement from Binance that was recorded in the transaction metrics. This is an example of dormant coins being brought back into circulation. This could portend a price rally as it frequently corresponds to significant changes in Bitcoin’s price.According to past experience, these kinds of volumes typically indicate that bullish momentum may be building up in the near future when combined with older Bitcoin holdings reentering the market. With multiple significant moving averages providing support and resistance levels, it appears that Bitcoin is consolidating around the $62,000 range, according to the market data.The sudden surge in price combined with the rise in transaction volume points to the possibility that Bitcoin is preparing for a more significant move on the market, possibly testing the $65,000 mark once more. Given that significant price swings, whether positive or negative, usually precede on-chain transaction spikes, this is especially important. Volatility on Bitcoin is still there despite this volume.With traders waiting to see whether this influx will create sustained upward pressure or merely be a momentary uptick, the $65,000 resistance level remains a crucial line to watch. If this is broken, there could be even bigger moves ahead, but if the current support is broken, Bitcoin might drop back into the mid-$50,000 range.This article was originally published on U.Today More

Following the conclusion of its Singapore event in September, where 25 teams emerged from a pool of 279 participants, the spotlight now turns to the Thai capital, where Polkadot developers will compete to pitch new blockchain-based projects.The Bangkok leg of the hackathon is organized by OneBlock+ and will take place on November 16, with registration and code submissions due by October 23.Developers from around the globe are expected to participate, with competition categories spanning infrastructure, smart contracts, AI, and custom blockchain solutions. Set to culminate in a Demo Day on November 16, the Bangkok edition also has a strong lineup of sponsors, including Vara Network, CESS Network, and Bifrost, all offering bounty challenges to motivate participants. These bounties focus on areas like GameFi, decentralized applications, and unique uses of blockchain technology.The event’s timeline includes mentorship sessions, project evaluations, and a live demo day in Bangkok. Teams will pitch their projects to a panel of judges, with winners announced later that evening. The 2024 Polkadot Hackathon will include a category focused on building blockchain solutions using Polkadot’s SDK. Participants will create custom blockchains that can later connect to the Kusama Relay Chain. Other projects could involve developing parachains, privacy-focused chains, decentralized storage solutions, DAO chains, gaming blockchains, or decentralized identity solutions (DID).In addition to this category, the hackathon will feature three other tracks, with a total prize pool of $315,000 available. Each track will have first, second, and third-place prizes of $40,000, $20,000, and $10,000 respectively. Despite market challenges, developer activity in the Polkadot ecosystem remains strong. Per its recent statistics, the network now hosts 29,917 repositories, with weekly commits exceeding 5,500. Around 900 developers contribute each week as well, keeping the ecosystem’s momentum active. More

He also said a victory for Trump, who has recently come out in favor of crypto despite previously calling it a “scam”, could send the price of Bitcoin up to $100,000 or above. Bitcoin was exchanging hands at more than $62,100 on Wednesday morning.Trump has moved to embrace digital assets, even promising to turn the US into the “crypto capital of the world” through lighter regulation and a national stockpile of Bitcoin.Last month, Trump and his family also unveiled a new cryptocurrency business, dubbed World Liberty Financial, although few details about its services or finances were provided.”Bitcoin and crypto is a Trump trade so he has become demonstrable for it, he’s an advocate for it,” said Scaramucci, who was responding to questions submitted by Investing.com to an interview he held with Saxo Bank.But Scaramucci, who previously held a short-lived post as White House Communications Director during the opening days of Trump’s first term in office in 2017, noted that the former president remains a “polarizing” figure.”[I]f he’s damaging our alliances or creating lots of havoc in the world, I’m not sure how that’s going to help anybody in crypto,” he said. “It’s important to understand that you want Trump’s involvement to be bipartisan, as it could be too polarizing.”Scaramucci has publicly criticized Trump in the run-up to the Nov. 5 vote, and endorsed Kamala Harris, Trump’s Democratic rival in the 2024 presidential race. He also said he is working with Harris’ campaign to develop her policies regarding cryptocurrencies.”A Harris administration will have a more typical regulatory approach to crypto and Bitcoin,” he said. Many Democrats would also likely be “against” digital assets “just because Trump is for it,” Scaramucci added.”I would like to see this calm down. I think we have to depoliticize our regulatory decisions and make them more about right or wrong as opposed to left or right.”In September, Scaramucci told CNBC that Harris has been meeting with crypto backers who are attempting to persuade her to support industry-friendly policies.An outspoken proponent of Bitcoin, Scaramucci has previously argued that mainstream adoption could help fuel the growth of the world’s most popular digital asset. Prior to a so-called Bitcoin halving event in April, when the amount of new Bitcoin entering circulation dropped, the financier predicted that the token’s price may eventually touch $170,000. More

He did not share who he believes Satoshi Nakamoto, the mysterious Bitcoin inventor, to be. However, he wondered if the impact on the BTC price might be drastically negative rather than bullish.Earlier today, he published a tweet, saying that very soon HBO will release its much-expected documentary, where it claimed to reveal the true identity of Bitcoin inventor Satoshi. Several “candidates” are mentioned in the film, among them cypherpunk and Blockstream CEO Adam Back, who was mentioned in the Bitcoin white paper, Len Sassaman and former Bitcoin developer Peter Todd.Markus asked his followers: “Who do you think it is?” However, what is more interesting, is that he also wondered if Bitcoin would “instantly crash from the reveal.”Todd also said that the creators did not approach him before the film was released. Still, the director remains positive about his conclusions: “Peter was there that day (in which he was interviewed for the film). He knows what was discussed. He had every opportunity to explain himself.”As for the Bitcoin price, in the past 24 hours, no crash can be observed, as BTC has only declined by 1.17%, which can hardly be attributed to the movie release and Peter Todd being proclaimed as Satoshi by its makers.This article was originally published on U.Today More