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Silicon Valley betting on Bitcoin with Trump support

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Mark Cuban opined that Bitcoin is the central theme behind the support of Silicon Valley giants for former President Donald Trump’s political aspirations.

“It’s a Bitcoin play,” said billionaire businessman Mark Cuban on Wednesday as Donald Trump remains a major talking point in crypto, Capitol Hill, and Silicon Valley. Trump told Bloomberg he would reduce corporate taxes to 15-20%. Cuban believes lower tax rates and tariffs could theoretically trigger Bitcoin’s (BTC) parabolic run and herald much higher prices. 

“Combine that with global uncertainty as to the geopolitical role of the USA, and the impact on the US Dollar as a reserve currency, and you can’t align the stars any better for a BTC price acceleration,” Cuban tweeted on X. 

Furthermore, the crypto proponent surmised that Silicon Valley titans view a Trump presidency as the best bet for solidifying Bitcoin as a technologically superior global currency and the preferred inflation hedge. Venture capitalist founders Marc Andreessen, Ben Horowitz, and Palantir’s Joe Lonsdale donated $8.7 million to America Pac, which supports Trump’s campaign. 

More California tycoons are reportedly lining up to offer financial support, and several crypto-native names, like Kraken founder Jesse Powell, have already committed millions to the former president’s cause.

“Keep that in mind as you consider what happens if, because of geopolitical uncertainty and the decline of the dollar as the reserve currency, BTC becomes a “safe haven” globally.  Which means that BTC could be what countries and all of us look to buy as a means to protect our savings”, according to Cuban. 

If this happens and Trump becomes president in November, Cuban said BTC prices may eventually go higher than some might think.

Trump’s appeal to web3 and Bitcoin takes shape

Donald Trump has become the pro-crypto presidential candidate following a u-turn on his crypto-blockchain rhetoric. He has gained plaudits for opposing a central bank digital currency (CBDC), promoting Bitcoin (BTC) and local Bitcoin mining, and picking a crypto-friendly VP in Ohio Senator, J.D. Vance. 

The decision marked America’s first-ever pro-crypto presidential ticket. Trump’s crypto stock rose even further after the Republican candidate survived an assassination attempt during a Pennsylvania rally last week. 

The developments and events culminated in a market uptick as Bitcoin reclaimed $65,000, a new monthly high. Trump is also scheduled to speak at the Bitcoin Conference in Nashville. 





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Q2 Bitcoin Mining Costs Spike To Nearly $50K

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They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.



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KYVE Network plummets, Undeads Games exhibit triple-digit

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KYVE Network has emerged as the top gainer as per the latest data with its 340% surge in the last 24 hours.

According to the latest data from CoinGecko, KYVE has shot up from a 24-hour low of $0.01307 to as high as $0.57877 but plummeted to $0.03183 at last check Sunday.

KYVE Network plummets, Undeads Games exhibit triple-digit gains - 1
Source: CoinGecko

A closer look at different timeframes shows that KYVE was up by 220% in the last seven days.

The price surge, and subsequent plummet, happened while the overall market was dumping. The latest data shows that the global crypto market cap is down by 2.5% in the last 24 hours.

One of the possible developmental reasons for the surge is the recent release of their beta testing phase 2.

Undeads Games rises close to 200%

The second token on the top gainers list is UDS, with a price surge of 190%. According to CoinGecko data, UDS is up from a 24-hour low of $0.1712, and to as high as $0.7597.

At press time, the token is trading at $0.5623 — roughly a 700% surge in the last seven days. This upward movement has helped UDS hit the $28.1 million market cap.

KYVE Network plummets, Undeads Games exhibit triple-digit gains - 2
Source: CoinGecko

However, the exact reason for the pump is unclear. There haven’t been any major announcements or project milestones that helped the coin achieve this price surge.

Bitcoin (BTC), which managed to climb above the $72,000 level a few days back, has reversed course in the last 24 hours.





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Trump’s Polymarket lead weakens, Bitcoin drops to $68,000

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Polymarket data shows Republican presidential nominee Donald Trump’s lead over his Democratic opponent, Vice President Kamala Harris, has weakened but remains dominant.

As per the data, the twice-impeached former president’s odds declined from 66.9% to 54%.

Meanwhile, Harris has seen a substantial increase in her chances, rising from 33.5% to 46.1%. This shift reflects changing market sentiment as Election Day, Nov. 5, approaches.

Trump's lead over Harris on Polymarket weakens, as Bitcoin drops to $68,000 - 1
Source: Polymarket

Built on the Ethereum blockchain, Polymarket allows its users to buy and sell shares in different real-world outcomes by betting a stablecoin (USDC), rather than more volatile cryptocurrencies.

According to the Wall Street Journal, a Polymarket gambler known as Théo is wagering more than $30 million on a Trump victory.

Iowa poll, Epstein tapes

The shift in momentum comes as the latest Des Moines Register/Mediacom poll results bode well for Harris.

According to Ann Selzer, a prominent American pollster known for being highly accurate, Harris leads Trump in Iowa by three percentage points.

According to the poll, Harris retained 47% support compared to Trump’s 44% among likely voters. This represents a major swing from September’s poll, which showed Trump having a 4-point advantage.

Selzer told Newsweek that the same methodology was used this year as in 2016 and 2020 — two years when Trump won Iowa.

Meanwhile, The Daily Beast recently published recordings from interviews author Michael Wolff conducted in 2017 with convicted sex trafficker Jeffrey Epstein.

Epstein, who spoke at length during the interviews about his decade-long friendship with Trump, died in August 2019 at a New York City prison, where he was awaiting trial.

Trump and Harris have varied crypto stances

The candidates’ positions on cryptocurrency regulation have become increasingly relevant to investors. Trump has emerged as a vocal supporter of crypto.

He has even made a public commitment to back cryptocurrency during a May event at Mar-a-Lago. Trump’s campaign’s decision to accept crypto donations further strengthens this pro-crypto stance.

Harris’s approach to crypto has been more measured. In September, she indicated her administration would support crypto as part of a broader strategy to enhance economic competitiveness.

While her statements have been less definitive than Trump’s explicit endorsements, Harris received an endorsement from Ripple(XRP) co-founder Chris Larsen, who donated over $11.8 million to her campaign.

Larsen told CNBC that he believes the Democratic candidate will take a completely different approach to crypto than President Joe Biden, who has been criticized for picking Gary Gensler to chair the U.S. Securities and Exchange Commission.

As state polls and Polymarket predictions continue to show volatility, Bitcoin’s (BTC) price has reflected the uncertain political environment.

This is evident from its recent price drop to $68,000. According to the latest data, the global crypto market cap has plunged by 1.95% to $2.28 trillion.

Bitcoin went as low as $67,300 but managed to climb above $68,000 at press time. Ethereum (ETH) is no exception, as it fell to the $2,400 level.

Bitcoin
Source: CoinGecko



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