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Crypto News Digest - Quick-read versions of cryptocurrency updates

Bitcoin Will Shatter $16 Trillion Market Cap of Gold, Says SkyBridge Capital’s Anthony Scaramucci – Here’s How – digest

Anthony Scaramucci, hedge fund manager and founder of SkyBridge Capital, predicts Bitcoin will surpass gold’s $16 trillion market cap, emphasizing its unique, immutable, and decentralized nature. Despite Bitcoin’s current $1.4 trillion valuation, Scaramucci believes regulatory acceptance and global portfolio inclusion could drive its market value beyond gold, highlighting the digital currency’s potential for unprecedented financial growth..

Anthony Scaramucci Predicts Bitcoin to Outdo Gold’s $16 Trillion Cap – Hodl.Press – digest

Anthony Scaramucci predicts Bitcoin’s market cap will surpass gold’s $16 trillion valuation, citing its decentralized nature, security, and immutability as key advantages. He emphasizes regulatory acceptance and the potential for Bitcoin’s inclusion in diversified portfolios as driving factors for its growth. Despite challenges like regulatory hurdles and market volatility, Bitcoin’s unique attributes position it as a potentially superior asset, with the ability to redefine the global financial landscape as it moves towards surpassing gold’s market capitalization..

Bitcoin Miners’ Revenue Hits Record High Amid Rising Fees, Runes Launch – Hodl.Press – digest

Bitcoin miners achieved a record daily revenue of $107.76 million on April 20, 2024, following the introduction of the Runes protocol and a recent Bitcoin halving event. This surge in income is attributed to increased transaction fees, which have remained high at an average of $34, even after halving reduced block rewards. The Runes protocol’s launch has significantly boosted network activity, ensuring miner earnings stay robust despite reduced block rewards. This milestone underscores the adaptability and resilience of the Bitcoin mining sector, highlighting its crucial role in maintaining the network’s security and vitality amidst evolving digital asset spaces..

Analyst Predicts Corrections for Two AI Altcoins, Says One Low-Cap Coin in Danger of Significant Pullback – digest

Crypto strategist Altcoin Sherpa predicts downturns for AI-related altcoins RNDR and TAO, citing key Fibonacci levels as potential support zones. RNDR may hit the 0.618 level before a bullish reversal, while TAO could drop to the 0.50 level following a Binance listing event. PROM, another altcoin, risks a significant sell-off if it fails to maintain its range support. Sherpa’s analysis is based on current prices and technical indicators, offering strategic entry points for investors in these volatile markets..

‘Perfect Chart’ Shows 4,000,000,000 People Adopting Bitcoin and Crypto, Says Macro Guru Raoul Pal – Here’s the Timeline – digest

Raoul Pal, former Goldman Sachs executive and CEO of Real Vision, projects a massive adoption curve for Bitcoin and cryptocurrencies, forecasting over one billion users by 2025 and reaching half the world’s population by 2030. Utilizing a model comparing crypto adoption to the internet’s early growth, Pal emphasizes the unprecedented rate at which crypto has expanded since 2016. Despite anticipating a potential slowdown to mirror the internet’s adoption pace, the projections suggest a staggering increase in global cryptocurrency users, underscoring the significant potential for widespread crypto integration in the coming decade..

15 Attorneys General Demand Answers From Bank of America, Alleging Lender Shutters Accounts Over Customers’ Religious and Political Views

A coalition of 15 state attorneys general, led by Virginia’s Jason S. Miyares, is challenging Bank of America over allegations of closing accounts based on customers’ political and religious beliefs. They accuse the bank of discriminatory practices, citing examples of debanking gun manufacturers, coal mining firms, and ICE contractors. The group demands a report clarifying the bank’s account policies and the removal of terms like “intolerance” and “hate” from its service agreements. The letter also highlights concerns over an employee “racial reeducation program” and warns of potential legal and regulatory risks for the bank. The attorneys general are seeking a… Read More »15 Attorneys General Demand Answers From Bank of America, Alleging Lender Shutters Accounts Over Customers’ Religious and Political Views

“Bank of America Faces Inquiry Over Alleged Account Closures for Political, Religious Views” In a significant move that has caught the attention of both the financial and

15 state attorneys general, led by Virginia’s Jason S. Miyares, challenge Bank of America’s account closure policies for potential bias against religious and political beliefs. They demand a detailed explanation and policy revisions, highlighting past “debanking” incidents and accusing the bank of promoting a controversial racial program. This inquiry underscores legal risks and raises concerns over financial neutrality, with implications for the cryptocurrency market as it seeks to offer unbiased financial services..

Coin Center Claims Stablecoin Bill Threatens Free Speech in Crypto Sphere – Hodl.Press

A proposed US stablecoin bill has sparked debate over free speech and regulation in the cryptocurrency industry. Coin Center, a crypto advocacy group, argues that the bill’s ban on algorithmic stablecoins infringes on First Amendment rights, suggesting instead that these stablecoins should register with the SEC. This controversy underscores the challenges of balancing innovation, regulatory oversight, and constitutional freedoms in the digital currency space, highlighting the need for nuanced approaches to ensure both market stability and the encouragement of technological advancement..

New Stablecoin Bill Would Violate Free Speech Rights, Says Crypto Advocacy Group Coin Center

A nonprofit crypto advocacy group criticizes a proposed US stablecoin bill by Senators Cynthia Lummis and Kirsten Gillibrand, arguing it infringes on free speech by aiming to ban algorithmic stablecoins like Terra’s UST. Coin Center claims these stablecoins are fully decentralized and suggests instead of a ban, they should be regulated by requiring issuers to register with the SEC. They emphasize that banning algorithmic stablecoins equates to banning computer code, violating the First Amendment..

Insights” In a significant development for the cryptocurrency community, John Deaton, a fervent advocate for XRP and a Senate candidate, has taken a decisive step by filing an

John Deaton, pro-XRP lawyer and Senate candidate, filed an amicus brief supporting Coinbase against the SEC’s lawsuit, which accuses the exchange of selling unregistered securities. Backed by prominent crypto figures, Deaton’s action highlights the growing tension between cryptocurrency operations and U.S. regulatory frameworks. This legal battle is pivotal, potentially setting precedents for crypto regulation and reflecting broader concerns about innovation and access in the digital asset space. Deaton’s Senate campaign, supported by key industry players, underlines his role as a potential regulatory ally for the crypto community..

Customer Loses $30K in JPMorgan Account, Bank Denies Reimbursement – Hodl.Press

Oregon resident Alan Roberts lost $30,000 from his JPMorgan Chase account due to unauthorized transfers, highlighting a significant issue in digital banking security. Despite immediate action and contacting Chase, his efforts to recover the funds were initially dismissed. Roberts escalated the issue by involving law enforcement and government agencies, including the FBI and the Treasury Department, showcasing the challenges customers face in resolving fraudulent activities and the pressing need for banks to enhance security measures and customer support in the face of growing cyber threats..

Pro-XRP Lawyer John Deaton Files Amicus Brief in Support of Crypto Exchange Coinbase: Report

John Deaton, a pro-XRP lawyer and Senate candidate, supports 4,701 Coinbase customers against the SEC lawsuit by filing an amicus brief. Deaton, backed by notable figures like the Winklevoss twins and Ripple executives, aims to defend the average person’s right to invest in cryptocurrencies, emphasizing freedom and economic mobility. This move comes amidst his campaign against incumbent Senator Elizabeth Warren, known for her anti-crypto stance. The SEC’s lawsuit against Coinbase, filed in 2023, accuses the exchange of selling unregistered securities..

$30,000 in JPMorgan Chase Account Disappears in One Day, Customer Says Bank’s Refusal To Reimburse Is Blowing His Mind: Report

An Oregon man’s $30,000 retirement savings disappeared in a day due to unauthorized transfers from his JPMorgan Chase account. Despite numerous suspicious activities, including receiving hundreds of foreign language emails on the same day, Chase rejected his claims for reimbursement twice, stating a lack of evidence of account hijacking. The victim is now seeking help from law enforcement and government agencies, including the FBI and the Treasury Department, to recover his lost funds..