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Elon Musk Backs Telegram’s Pavel Durov for Upholding Free Speech

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3 months ago

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Following Telegram CEO Pavel Durov’s arrest in France on Saturday, tech billionaire Elon Musk has come out in support of Durov, praising him for upholding free speech and not giving up on the government’s censorship pressure. Musk has been championing free speech for quite some time and it was one of the key reasons behind purchasing Twitter back in October 2022.

Elon Musk’s Support to Telegram CEO

A number of industry leaders have come out in support of Telegram CEO Pavel Durov, following his arrest on charges of allowing illicit and criminal activities on the Telegram messaging app. The arrest soon led to the downfall in the Toncoin price, which is now trading 16.33% down at $5.69 as of press time.

Elon Musk also shared one of the old interviews Durov with American journalist Tucker Carlson, wherein Durov explained the intimidating tactics of the US Government and the FBI to poach one of the engineers of Telegram and give them behind-the-curtains access to the messaging app. He said that the officials were trying to persuade the engineer to integrate some open-source tools into Telegram, which would give them backdoor access.

While Elon Musk and other industry tech players have been supporting Durov, Facebook founder Mark Zuckerberg has been tight-lipped on this matter so far. Musk also slammed Zuckerberg in response to a tweet that questioned why aren’t authorities arresting Zuck for enabling child predator accounts on the Instagram platform. Responding to it, Musk wrote:

“Because he already caved into censorship pressure. Instagram has a massive child exploitation problem, but no arrest for Zuck, as he censors free speech and gives governments backdoor access to user data”.

Ethereum’s Vitalik Buterin Backs Durov

Ethereum co-founder Vitalik Buterin has also backed the Telegram CEO saying that he had previously banned Durov for not being serious with encryption. However, he added that the charges on Durov are unmoderated and “looks very bad and worrying for the future of software and comms freedom in Europe”.

One of the users on the X platform also stated that despite the fact that top messaging apps like WhatsApp and iMessage have end-to-end encryption, they provide backdoor access to the government. Responding to this, Vitalik said: “This is why we need open source and formal verification of security properties”. Vitalik Buterin has been a strong proponent of decentralized technology explaining how Ethereum is taking effective measures in that direction.

Some market analysts also predict that Elon Musk’s X and video platform Rumble are the next targets for government agencies. Chris Pavlovski, the CEO of online video platform Rumble, stated that France has crossed the Red line and he has decided to depart from Europe. In a message on the X platform, Pavlovski wrote:

“I’m a little late to this, but for good reason — I’ve just safely departed from Europe. France has threatened Rumble, and now they have crossed a red line by arresting Telegram’s CEO, Pavel Durov, reportedly for not censoring speech. Rumble will not stand for this behavior and will use every legal means available to fight for freedom of expression, a universal human right. We are currently fighting in the courts of France, and we hope for Pavel Durov’s immediate release”.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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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Ripple CEO Shares Bullish News With XRP Army As Trump Names Treasury Secretary

Published

29 mins ago

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November 23, 2024

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Ripple CEO Brad Garlinghouse has shared another good news with the XRP community. US President-elect Donald Trump has finally picked his Treasury Secretary, making the crypto community including Garlinghouse bullish on XRP and the end of the SEC lawsuit. Ripple CEO Garlinghouse claims Scott Bessent is the perfect pick.

Donald Trump Nominates Scott Bessent As US Treasury Secretary

US President-elect Donald Trump has nominated Scott Bessent to lead the US Treasury Department. The new Treasury Secretary is the founder of hedge fund manager Key Square Group. He is known for the famous short bet against the British sterling in 1992 when he worked for George Soros.

Picking the US Treasury chief proved to be one of Trump’s most crucial decisions as Wall Street closely watched the drama. Apollo Global Management CEO Marc Rowan and former Federal Reserve Governor Kevin Warsh were in the race.

“Scott is widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists,” Trump wrote on Truth Social, reported Reuters.

Both Wall Street and the crypto market reacted bullishly as Trump named Scott Bessent to lead Treasury Department. Bessent is positive on crypto adoption policy, but investors await more details on his views on fiscal policy and the next steps.

Ripple CEO Brad Garlinghouse Hails Trump’s Treasury Sec Pick

Ripple CEO Brad Garlinghouse took to X to express his satisfaction with Scott Bessent as Treasury Secretary. He said “I don’t want to get too far ahead of myself but… Scott Bessent is the perfect pick.” He claims Bessent will be the most pro-innovation, pro-crypto Treasury Secretary ever seen.

Other crypto executives and experts including Charles Hoskinson, John Deaton, Matthew Sigel, and David Bailey reacted positively.

Pro-XRP lawyer John Deaton said the Trump transition team now needs to get “SEC Chair right, we are about to enter the Digital Age of Innovation.” Meanwhile, Pro-XRP lawyer Jeremy Hogan predicted a potential conclusion timeline for Ripple SEC case.

XRP Price Rises Over $1.60 As Ripple CEO Turns Bullish

Bullish reactions from Ripple CEO and Cardano founder Hoskinson triggered further rally in XRP and ADA prices. All eyes are now on upcoming nominations by Donald Trump.

XRP price extended its weekly rally to more than 60%, with a 12% pump in the last 24 hours. XRP saw a 24-high of $1.62 as trading volume climbed further by 22%. Popular analysts predicted an XRP price target of $2.

ADA price jumped 22% in the past 24 hours, with the price finally surpassing $1. The 24-hour low and high are $0.856 and $1.140, respectively. Furthermore, the trading volume has increased by 130% in the last 24 hours, indicating a massive interest among traders.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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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Cardano Price Hits $1 But Analyst Says This Is Just The Start

Published

5 hours ago

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November 23, 2024

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Similarly,

Nonetheless, experts claim that this has only begun, with some contributing on the projection of the future events. As ADA enjoys the bullish on-chain metrics, the question that continues to be asked is; where is ADA headed next?

Cardano Price Records 30% Surge to $1 Amid Bullish Metrics

After the recent crypto rally, Cardano price has grown by 30%, with a current price of $1.06 within 24 hours. The present value is the highest ADA has reached since April 2022. Trading activity also rose sharply with volumes going up by 150% to $6.7 billion in a single day.

More so, the crypto rally aligns with recent analysis predicting ADA price could cross the $1 mark this weekend. Analysts have suggested that the crypto is yet to fully realize its potential. Ali Martinez expressed optimism stating,

“$ADA has surged nearly 200% in the last three weeks! But that’s nothing compared to what is coming.”

As one of the leading crypto analysts, Ali Martinez claims that all that has happened with Cardano is a warm-up to even bigger gains. Martinez noted that ADA whales with stakes between $1 million and $10 million have seen their ADA holding rise by over 100% in the last month. This has resulted in large transactions exceeding $22 billion daily on the network, signifying robust accumulation activity.

From a technical standpoint, Martinez noted that ADA is mirroring its previous bullish cycle. If this pattern continues, ADA could aim for targets as high as $6. However, he emphasized that the $0.80 support level, where 1.2 billion ADA were purchased by 48,000 addresses, remains crucial for sustaining the current bullish trend.

On-Chain Metrics Show Strong Momentum

In addition, on-chain data underscores the bullish sentiment surrounding ADA. According to CoinGlass, Cardano price has benefited from a 34% increase in open interest, which now stands at $972 million.

Moreover, short liquidations have reached $9.77 million in the past 24 hours, indicating that traders betting against ADA’s rally were forced to close their positions. This forced buying pressure has further fueled ADA price growth during the ongoing crypto rally.

Additionally, data from Santiment highlights Cardano’s tripling market cap over the past 17 days. Concurrently, the crypto recorded $165 million in realized profits in a single day, the highest in eight months. More so, the data show Social media discussions about ADA have reached an 11-month high, underlining the growing interest within the community.

Source: Santiment ADA priceSource: Santiment ADA price
Source: Santiment

Another analyst, Dan Gambardello, noted that ADA’s trajectory over the past three weeks, which saw nearly 200% growth, mirrors its previous bullish patterns. He identified key support zones around $0.80 and resistance near $1.05, suggesting further upside potential.

Gambardello was also keen to point out that, based on this narrative, Cardano price could potentially have its sights set on a $10 target. This recent rally has triggered different analysts and investors weigh in on possible price targets ADA, ranging from $1.00 to as high as $15.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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 Miner MARA Buys Another 5771 BTC As Price Nears $100k

Published

9 hours ago

on

November 22, 2024

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Bitcoin miner MARA Holdings has expanded its cryptocurrency portfolio by purchasing an additional 5,771 BTC for $572 million. The acquisition was completed at an average price of $95,554 per Bitcoin, according to the company.

With its 0% convertible note offering, the company has achieved a 35% BTC yield per share and now owns a total of approximately 33,875 BTC, currently valued at $3.4 billion based on Bitcoin’s spot price of $99,000. This move follows Bitcoin’s ongoing rally, with the cryptocurrency nearing the $100,000 milestone amid increasing institutional demand and limited supply.

Bitcoin Miner MARA’s 0% Convertible Notes Drive Bitcoin Accumulation

MARA Holdings has leveraged its 0% convertible senior note offering to fund its Bitcoin acquisitions and other corporate activities. The company raised $1 billion from its latest offering, generating $980 million in net proceeds after fees and discounts. MARA revealed that a portion of these proceeds has been used to purchase 5,771 BTC at an average price of $95,554 per Bitcoin.

This recent acquisition reinforces MARA’s strategy to accumulate Bitcoin as a corporate asset. The company now holds approximately 33,875 BTC, solidifying its position as one of the largest Bitcoin-holding miners globally. In a statement, the company reported a 35% BTC yield per share, underscoring the financial benefits of its aggressive Bitcoin accumulation strategy.

By issuing zero-coupon convertible notes, MARA has been able to access funds without the immediate burden of interest payments, allowing the company to focus on expanding its Bitcoin reserves and scaling its mining operations.

Bitcoin Rallies Toward $100k

Bitcoin continues to surge, with its price reaching $99,742 earlier today and nearing the highly anticipated $100,000 milestone. This price rally has fueled optimism across the cryptocurrency market, with Bitcoin’s total market capitalization now surpassing $1.9 trillion.

Galaxy Digital CEO Mike Novogratz described Bitcoin’s price movement as “a big moment,” highlighting the resilience of the crypto community during volatile times. “Shoutout to the crypto community. You’ve endured years of uncertainty and headwinds,” he noted in a recent social media post.

The rally has been driven by several factors, including rising institutional interest, expectations of regulatory clarity, and Bitcoin’s upcoming halving event in 2024, which is expected to reduce supply while demand continues to grow. However, some analysts have warned of potential short-term BTC price corrections as the market faces increased leverage and speculative activity.

Marathon Digital’s Growth Strategy Mirrors Saylor’s Playbook

MARA’s latest Bitcoin purchase aligns with strategies popularized by MicroStrategy’s Michael Saylor, who has championed Bitcoin as a corporate reserve asset. Saylor has often advocated for accumulating Bitcoin during dips, leveraging corporate debt to acquire the asset for long-term growth.

MARA’s use of convertible notes to fund its Bitcoin acquisitions mirrors this approach. The company has strategically positioned itself to benefit from Bitcoin’s price appreciation, viewing the cryptocurrency as a store of value and a hedge against inflation.

In addition to acquiring Bitcoin, MARA plans to allocate funds from its convertible note offering to expand mining operations, pursue strategic acquisitions, and repay debt. This diversification ensures the company remains financially stable while increasing its exposure to Bitcoin’s growth potential.

Regulatory Developments and Institutional Demand Support Bitcoin’s Momentum

The increasing corporate interest in Bitcoin comes amid growing optimism surrounding regulatory clarity and the potential approval of a U.S. spot Bitcoin ETF. Spot ETF inflows are expected to make Bitcoin more accessible to traditional investors, further boosting demand.

Meanwhile, U.S. Senator Cynthia Lummis recently suggested that Bitcoin could play a role in reducing national debt over the next 20 years, sparking interest in its long-term economic potential. As institutional and corporate players like MARA continue to strengthen their Bitcoin positions, the cryptocurrency’s path toward $100,000 could serve as a catalyst for further adoption.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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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