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Elon Musk Backs Telegram’s Pavel Durov for Upholding Free Speech
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3 months agoon
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adminFollowing 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.
— Elon Musk (@elonmusk) August 25, 2024
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”.
🇨🇳 China bans Rumble
🇫🇷 France threatens Rumble, we leave
🇧🇷 Brazil threatens Rumble, we leave
🇬🇧 UK threatens Rumble
🇷🇺 Russia bans Rumble
🇳🇿 New Zealand threatens Rumble🇫🇷 France arrests Telegram CEO
Free speech is under major assault and I will not stop fighting for it.
— Chris Pavlovski (@chrispavlovski) August 25, 2024
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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Cardano Founder Charles Hoskinson Confirms Crypto Advisor Role Under Donald Trump
Published
53 mins agoon
November 10, 2024By
adminCardano Founder Charles Hoskinson has confirmed plans to collaborate with the U.S. government under Donald Trump to help shape crypto legislation. The goal is to create clear regulatory frameworks for the cryptocurrency industry, which has faced years of uncertainty and regulatory challenges.
Charles Hoskinson revealed these plans during a recent address, where he emphasized the need for bipartisan support in developing crypto-friendly policies. This development comes as Cardano, along with other major blockchain networks like Bitcoin, faces ongoing regulatory scrutiny from U.S. agencies.
Cardano Founder Charles Hoskinson Crypto Advisor Role
Hoskinson stated that his company, Input Output Global (IOG), will establish a dedicated policy office to focus on crypto regulation. The office will work to integrate aspects of the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA) into a comprehensive legislative proposal. “I will work with lawmakers and the administration to get a bipartisan bill passed,” he said.
The Cardano founder highlighted the importance of cooperation across party lines, pointing out that the recent FIT21 bill passed in the House with over 60 Democrat votes, indicating growing support for bipartisan crypto legislation.
Charles Hoskinson’s statement also acknowledged the potential influence of a Republican-controlled Senate, House, and presidency in the coming years. He expressed optimism that the political environment could present an opportunity for the crypto industry to secure much-needed regulatory clarity. He remarked,
“This is the best opportunity we have ever had in the history of the industry to get clarity.”
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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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Jupiter Price Rallies 29%, Is $1.8 Next For JUP?
Published
3 hours agoon
November 9, 2024By
adminThe recent rally in Jupiter price (JUP) has gained substantial attention in the cryptocurrency market, as the token climbed 29% within a week to reach $1.20. This sharp increase has raised questions about the potential for continued upward momentum, with indicators suggesting that further growth could push JUP Price towards the $1.8 mark.
Jupiter Price Gains 29% in One Week as Key Indicators Point to Possible $1.8 Rally
Recent data in the cryptocurrency market shows that Jupiter price surged by 29% in the past week, reaching the $1.20 level. This notable rally in a short period reflects heightened interest in the token, driving strong buying pressure in the market. Analysts have pointed to several factors contributing to this price rise, including positive technical indicators and a shift in market sentiment favoring JUP.
One of the prominent indicators supporting the Jupiter price rally is the consistent inflow of funds into JUP. The spot inflow and outflow chart reveals a trend of net inflows, indicating that investors are accumulating JUP tokens in anticipation of future gains. This accumulation phase suggests a bullish sentiment. With market participants actively buying and holding JUP, the price draws closer to the $ 1.8 mark.
Technical Indicators Show Sustained Bullish Momentum
The MACD (Moving Average Convergence Divergence) indicator on Jupiter (JUP) price chart also shows a bullish crossover, with the MACD line crossing above the Signal line. This formation, often called a “Golden Cross,” suggests a potential uptrend continuation in the market.
Additionally, the MACD histogram, which represents the difference between the MACD line and the Signal line, shows green bars. This confirms the strengthening bullish momentum. The histogram bars are increasing, signaling that buying pressure is building up as the gap between the MACD and Signal line widens.
More so, the RSI for Jupiter has reached 70, indicating overbought conditions. While an overbought RSI typically signals a potential pullback, strong bullish trends can sustain these levels for extended periods. The continued upward momentum suggests that the cryptocurrency could test higher resistance levels if momentum persists.
Concurrently, JUP price rally is further reinforced by growing open interest in the futures market. Open interest represents the total value of active contracts and has shown a steady increase since early September. The rise in open interest alongside the price surge indicates confidence in sustained price growth.
Notably, a higher open interest in JUP futures reflects new capital entering the market, which is a bullish signal for Jupiter price. The growing interest from futures traders aligns with the accumulation trend in the spot market. This shows that both retail and institutional investors are preparing for further market gains.
At press time, Jupiter cryptocurrency market data shows high trading volume, with a 24-hour volume of over $308 million and a price surge of 10% in the last 24 hours. Elevated trading volume indicates strong demand and participation, validating the recent price movements.
The increase in volume has contributed to the price rally, pushing its market cap to $1.63 billion. This robust trading volume further strengthens the outlook for JUP with $1.8 as a possible target if demand remains high.
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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Anatoly Yakovenko Discusses What Next For Solana & Competition With Ethereum L2s
Published
5 hours agoon
November 9, 2024By
adminIn a recent interview, Anatoly Yakovenko, Solana’s founder, spoke to the unique position this ecosystem holds in the blockchain landscape, using its implementation against L2 scaling solutions and other Layer 1 blockchain systems.
Previously he raised questions about the vitality of the Ethereum ecosystem without the contributions from Base, a Layer 2 solution. This query comes amidst observing the metrics of growth shown by Base, particularly in user activities and transaction volumes.
Solana’s Anatoly Yakovenko: L1 Scalability Key, Not L2 Solutions
Anatoly Yakovenko, Solana’s founder, highlighted the unique position of the Solana ecosystem within the blockchain landscape. He contrasted its approach with both Layer 2 scaling solutions and other Layer 1 blockchains.
The podcast he was guest at was a sort of a follow up to his last statements where he questioned the resilience of the Ethereum ecosystem without contributions from Base, a Layer 2 solution, particularly in light of Base’s impressive growth metrics in user activity and transaction volumes.
“Its scalability, infrastructural focus, and transaction efficiency, in my opinion, are three things Solana has on its side,” Yakovenko detailed. Of course, he is also aware of Solana’s challenges in a world where blockchain technology would evolve and platforms would develop further.
Anatoly Yakovenko emphasized Solana’s unique architecture, designed to democratize access to transaction validation. Unlike traditional finance, Solana allows anyone to set up a validator and submit transactions directly, bypassing intermediaries. This level of decentralization, Yakovenko noted, is hard for traditional finance to replicate. While this functionality exists, he acknowledged that scaling it effectively remains a challenge.
New validators face significant barriers, including finding suitable peers for transaction ordering. Amassing enough stake to gain influence on the network is also difficult. Yakovenko believes that Solana’s future depends on regular network optimization. He envisions technical improvements that include higher bandwidth, lower latency, and multiple concurrent leaders per transaction slot. These changes, he suggests, could reduce economic barriers and make it easier for new validators to compete.
By reducing bottlenecks, Solana could foster a healthier, more competitive ecosystem. This would ultimately make the network more decentralized. Yakovenko views Solana’s path to decentralization as an engineering problem, requiring iterative optimizations. Through these efforts, Solana aims to achieve fair and efficient transaction processing.
Highlighting Solana’s Edge Over Ethereum and L2s
Anatoly Yakovenko compared Solana to Ethereum and various L2 solutions, emphasizing the trade-offs between Layer 1 and Layer 2. L2 solutions often use centralized sequencers for low-latency transaction ordering. However, Yakovenko noted that these can lead to the same congestion issues seen on Layer 1 chains. While L2s are often seen as short-term fixes for congestion, they face scaling bottlenecks when multiple applications or markets use them.
He highlighted that Solana’s strategy focuses on building a robust Layer 1 chain capable of supporting high throughput without needing L2 solutions. Another key factor for Yakovenko is synchronous composability, where multiple applications can interact in real-time on a single chain. He believes this is essential for DeFi. In his view, monolithic chains or application-specific L2s can’t support this level of composability, limiting their scalability.
According to Anatoly Yakovenko, the last competitive edge for Solana lies precisely in this regard: its total commitment to synchronous composability at scale-what makes it different from Ethereum and L2 chains. Still, some experts, such as Peter Brandt said that Solana is already breaking into new highs while Ethereum is struggling against an overhead resistance.
The overriding message from Yakovenko is that where Solana has the edge is in execution. While Ethereum is expanding via L2s, the development of Solana remains focused on making its L1 perfect. He admits that one day, a blockchain will come up with features similar to those of Solana and offer faster iterations, but for now, the pace at which Solana is improving places it well ahead of the competition.
For Anatoly Yakovenko, this core of Solana’s potential rests on ironing out its infrastructure to support more equitable, open transaction processing for a truly decentralized future. He says this positions Solana as one of the leading blockchains for years to come.
Teuta Franjkovic
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.
Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.
Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.
Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.
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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