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Donald Trump celebrates Satoshi’s whitepaper anniversary

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On Bitcoin’s 16th birthday, former U.S. President Donald Trump reaffirmed his promise to end the government’s crackdown on cryptocurrency.

Trump’s message to Bitcoin supporters in the U.S. on the anniversary of Bitcoin’s whitepaper, written by its creator Satoshi Nakamoto, included a jab at political rival Kamala Harris.

The former president and current Republican candidate stated he would end the “war on crypto” and support Bitcoin innovation in the U.S. He also reiterated his plan to pardon Silk Road founder Ross Ulbricht, who is serving a life sentence.

Trump’s Bitcoin rhetoric came days before the U.S. general elections on Nov. 5. The Republican candidate has courted Bitcoin and crypto supporters for months, pledging to end government Bitcoin sales and dismiss Securities and Exchange Commission chair Gary Gensler.

On the other side, Harris expressed support for emerging technologies like artificial intelligence and a commitment to protect digital asset investors.

Meanwhile, Bitcoin adoption and price have continued to trend upward. Ahead of the U.S. election, supporters suggested that Bitcoin would succeed regardless of the victor. Sixteen years after Satoshi’s whitepaper release, Bitcoin remains one of the best-performing assets of the past decade, with a 192% increase year-to-date, compared to the S&P 500’s 36% gain.

Corporate holders like Michael Saylor’s MicroStrategy rushed to buy more Bitcoin through capital raises. Spot BTC exchange-traded funds on Wall Street made history, as BlackRock’s fund became the fastest-growing ETF, and investors parked over $72 billion in BTC investment products.





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Donald Trump’s World Liberty Financial Lowers $300M Public Sale Target

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Donald Trump’s World Liberty Financial has lowered its pubic sales target of $300 following its disappointing sales since the WLFI token sale launched two weeks ago. The company revealed its new target for public sale in a filing with the US Securities and Exchange Commission (SEC).

Donald Trump’s WLF Lowers Public Sale Target

World Liberty Financial revealed in an SEC filing that it currently only plans to sell up to $30 million in its WLFI token public sale before terminating the crypto presale. This is a 90% reduction from the company’s initial $300 million when they launched the WLFI  token public sale two weeks ago.

This development is likely due to their unimpressive figures so far, as the company is still far from meeting its $300 million target. The filing revealed that the Donald Trump-backed company had sold about $2.7 million worth of WLFI tokens. Meanwhile, they still have about $285.7 million worth of tokens remaining to be sold.

Based on the new $30 million target for the public sale,  the company still has about $27.3 million worth of WLFI tokens, which it still has to sell before the public sale closes. Meanwhile, according to a Fortune report, Donald Trump’s World Liberty Financial is also planning to launch its dollar-backed stablecoin. However, the company has yet to provide a timeline for when they will launch this stablecoin.

This stablecoin will likely play a huge role in the World Liberty Financial platform, which seeks to offer decentralized lending and borrowing services using the Ethereum-based Aave DeFi protocol.

Former US President Promises To End War On Crypto

In an X post, Donald Trump reaffirmed his pro-crypto stance and urged voters to join him in ending Kamala Harris’ war on crypto and ensuring that Bitcoin is “made in the USA.” He also wished Bitcoiners a happy 16th anniversary of Satoshi Nakamoto’s Bitcoin Whitepaper.

The crypto community has rallied behind Donald Trump because of his pro-crypto stance and hopes that the former US president will win in the upcoming November 5 elections. A Trump victory could be bullish for the Bitcoin price and the broader crypto market. The latest Polymarket data suggests that the former US president is still the clear favorite to become the next president.

Meanwhile, while the crypto community is banking on a Trump victory to help boost prices, BitMEX co-founder Arthur Hayes remarked that BTC will still reach new highs irrespective of who wins. He also indicated that Donald Trump’s pro-crypto stance wasn’t genuine.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin

Bitcoin Is Having Its Best Year Ever

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I know, it’s a big statement, but really, the more I think about it, the more I’m convinced – looking back, 2024 will be remembered as the defining year for Bitcoin, the year Bitcoin transformed from magic internet money into a real institutional investment and financial asset.

The evidence is overwhelming:

Pension funds and university endowments allocated to Bitcoin.
– The long wait for a US Bitcoin ETF ended.
– Wall Street giants like BlackRock bought.
Larry Fink changed his tune on Bitcoin.

But most of all, a leading U.S. presidential candidate said he would make Bitcoin a monetary reserve asset. Now, read what I wrote again.

Of course, some Bitcoin pioneers lament this institutionalization and cringe at the institutional embrace. Some say Bitcoin is betraying its roots.

But for me, 2024 was the breakthrough year we’d long waited for. I entered Bitcoin in 2016, and feel like this year we finally crossed the chasm.

Sure, it can be argued that Bitcoin’s survival from the 2013 Mt. Gox hack, or its survival from the 2017 Fork War, or even El Salvador’s adoption of Bitcoin as legal tender in 2021 were all pivotal.

All of these were big wins for our culture and industry. But, this year, we finally saw our enemies capitulate. As someone from India, I’ve long looked at Washington and Wall Street as the center of the global power structure.

I know the world will follow their lead.

So, it’s soothing to see Wall Street and Washington finally admit Bitcoin’s power and bend the knee. For many around the world, it’s the real sign that things are about to change.

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.



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What Will Happen to the Meme Coin Market if Trump Wins?

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Many experts believe that Donald Trump will positively impact the crypto market more than Kamala Harris. However, the impact on the meme coin segment remains a matter of debate.

According to Columbia Business School professor Omid Malekan, Trump’s success in the election could negatively impact the meme coin sector.

The expert noted that investor interest in meme coins has increased due to disappointment in the tokenomics of venture-backed projects. If Trump becomes president, the Republican Party may change some rules allowing token holders to benefit from dividends and fees, which could reduce interest in meme coins.

Meme coins as a response to SEC policies

Meme coins have become a kind of response to the tough policy of the U.S. Securities and Exchange Commission (SEC), so their softening in the event of a victory of the Republicans with Donald Trump at the helm will lead to a drawdown, stated the co-founder and general partner of the firm Castle Island Ventures, Nic Carter.

This is how he commented on the publication of the professor of the Columbia Business School, Omid Malekan. In it, he called on the community of the Solana project to support the Democrats, who are represented in the presidential elections by Kamala Harris.

The expert argued his opinion as follows:

  • Meme coins represent economic populism and a protest against traditional crypto assets and the participation of venture investors.
  • Institutionally funded projects are becoming a response to SEC Chairman Gary Gensler’s and Senator Elizabeth Warren’s “repressive policies.”
  • A Republican victory could strengthen the position of significant traditional crypto assets. This will introduce economic mechanisms to token holders who are absent from meme coins.

Malekan insisted that better regulation of the crypto sphere in the U.S. will act as a “bearish” factor for meme coins. Carter supported him, saying that if the SEC’s position changes, demand for meme coins will decrease, but it will not disappear completely due to existing speculative interests.

Opinions from the crypto community

People react to these statements differently. Blogger and influencer Murad believes that the growth of meme coins is not due to political factors but economic ones, and the election results are unlikely to significantly affect this sector.

Another popular blogger, Jordan Fish, known as Cobie, also disagrees with Malekan and Carter, emphasizing that the interest of ordinary traders in meme coins remains high since they cannot participate in large projects in the early stages.

Meme coins and the U.S. Election

The meme coin sector has become the fastest-growing sector in the crypto industry in 2024, rising by more than 1800% since the beginning of the year. Ahead of the U.S. election, meme coins associated with Donald Trump have seen a sharp increase in volume and price.

This category holds a small capitalization relative to the entire meme coin market. Coingecko estimated its size at $1.2 billion, which is 2.4% of the entire market, with only four of them having a capitalization above $100 million. However, this did not prevent them from attracting the attention of the crypto community.

Forrest Przybysz, a trader and CEO of Sistine Research, noted that meme coins’ popularity is based on attention cycles, and the more attention they receive, the higher their value will be.

“Trump is an attention magnet. Therefore he is the ideal subject for a meme token.”

Forrest Przybysz, a cryptocurrency trader and CEO of Sistine Research

Yan Liberman, co-founder at crypto research firm Delphi Digital, emphasized that meme coins act as collectibles, allowing for the monetization of public attention.

“Meme coins are similar to nonfungible tokens in terms of being a bit of collectors’ item. The idea is that you monetize public attention,”

Yan Liberman, co-founder at crypto research firm Delphi Digital

Thus, if Trump’s election promises come true, America will see a new boom in the cryptocurrency segment. However, the question of meme coins remains open — the coins are unlikely to have any practical utility and strategic importance for the development of the decentralized finance market.

One way or another, the crypto market is likely to face volatility as the U.S. presidential elections approach. But it’s not entirely clear what kind of volatility it will be.





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