Bitcoin Pledge in 2024 Republican Debates and Other Significant Crypto Updates
Summary:
U.S Presidential candidate Vivek Ramaswamy will bring Bitcoin into the discussion at the 2024 Republican Debates, standing firm against government opposition towards decentralized currencies. Kyber Network has managed to recover $4.67 million from a $46 million cyber attack, agreeing not to prosecute the hackers as part of the deal. Grayscale's Bitcoin Trust is trading at its lowest discount since 2021, fueling anticipation in the market. Meanwhile, Argentina's President-elect Javier Milei plans to fight inflation by closing the country's central bank and adopting the U.S. dollar instead of the Argentine peso. No plans have been indicated for incorporating Bitcoin or other cryptocurrencies into Argentina's economy yet. Other news includes Former Binance CEO resisting U.S. government's attempts to block his return to UAE and Zipmex suspending all digital asset trading in Thailand for compliance reasons.
U.S. presidential candidate Vivek Ramaswamy is adamant that Bitcoin (BTC) will be part of the discussion at the Republican Debates leading up to the 2024 presidential election. If it's not brought into the conversation, he pledges to introduce it himself. Despite the fact that government deems decentralized currencies threatening to their establishment, Ramaswamy is firmly backing Bitcoin and emphasizes the importance of the freedom to code, self-reliance, and innovation. Besides Ramaswamy, others contesting in the debates include former U.S. President Donald Trump and Florida governor Ron DeSantis, both of whom have differing views on cryptocurrencies.
Cybersecurity attack recovery news shows that Kyber Network recouped $4.67 million of the $46 million exploited between Nov. 22 and Nov. 23. The recovery was part of a deal where the hackers returned 90% of the exploited funds in exchange for avoiding any legal action against them. The returned funds, in the form of various wrapped tokens and stablecoins, will be given back to the users.
Grayscale's GBTC, a Bitcoin (BTC) investment trust, is experiencing its lowest discount since July 2021 as the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States looms. Figures suggest that the gap between the trust's trading price and Bitcoin's net asset value has been continuously narrowing, triggering further anticipation in the market.
Argentina’s President-elect Javier Milei has affirmed his commitment to closing the country's central bank to combat the nation’s current inflation crisis. Alongside this, he aims to abandon the Argentine peso in favor of the U.S. dollar to mitigate the high inflation rate, whereas currently, there are no apparent plans to incorporate Bitcoin or cryptocurrency policies in Argentina's economy.
In other updates, Former Binance CEO Changpeng “CZ” Zhao is resisting U.S. government’s attempts to block his return to UAE. Moreover, cryptocurrency exchange Zipmex suspends all digital asset trading in Thailand to meet compliance obligations, whereas clients must directly contact the exchange for fund or asset withdrawal.
Published At
11/27/2023 5:06:15 AM
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