Tag: crypto news

Crypto Billionaire Jed McCaleb Invested $500 Million into AI Nvidia Chips

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Crypto Billionaire Jed McCaleb Invested $500 Million into AI Nvidia Chips

In a groundbreaking move, Voltage Park, a nonprofit organization backed by cryptocurrency billionaire Jed McCaleb, has invested a staggering $500 million into Nvidia’s cutting-edge AI chips. This strategic investment aims to position Voltage Park as a pivotal player in the AI computing landscape, offering businesses a flexible and cost-effective solution to meet their artificial intelligence (AI) project needs, according to a recent report by Reuters. Cryptocurrency Tycoon Jed McCaleb Pours $500 Million into Nvidia’s AI Chips, Boosting Voltage Park’s Vision Under the astute leadership of CEO Eric Park, Voltage Park has acquired an impressive arsenal of 24,000 Nvidia H100 chips. The primary objective of this substantial investment is to address the persistent scarcity of AI chips by providing low-cost, short-term, and long-term computing solutions for AI projects. Eric Park, the visionary behind Voltage Park, has expressed the organization’s conviction that the current machine-learning ecosystem is inherently flawed. In response to this, Voltage Park is set to establish clusters of Nvidia AI chips in strategic locations across Texas, Virginia, and Washington. The ambitious operation is already underway, with some Nvidia chips already in operation. The complete deployment of all 24,000 chips is anticipated to be finalized by approximately February. The surge in demand for Nvidia’s advanced AI silicon can be traced back to the launch of OpenAI’s ChatGPT last year. This propelled businesses into a frenzied race to secure AI chips to power their initiatives, creating a fiercely competitive landscape. Notably, other industry players such as Intel, Advanced Micro Devices, and various startups are also vying for a share of the high-demand AI chip market. Clickable Box Sol Swap SLP ICO is live BUY This 1000x Coin Buy SLP Now / Buy This Top Trending Crypto Presale’s Will Make You 100x At the helm of Voltage Park is Jed McCaleb, a luminary in the cryptocurrency industry who has founded three notable companies: Mt. Gox, Ripple, and Stellar. Ripple, in particular, gained prominence for developing a blockchain featuring the cryptocurrency XRP, with its founders receiving 20 billion XRP, reaching a peak value of nearly $80 billion. Voltage Park, with its headquarters in San Mateo, California, operates as a wholly owned subsidiary of McCaleb’s nonprofit entity, Navigation Fund. It’s crucial to clarify that any profits generated by Voltage Park will be reinvested back into Navigation. Notably, Jed McCaleb does not actively manage or sit on the board of either the nonprofit or Voltage Park, allowing them to function independently and efficiently in pursuit of their goals.

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Five Things to Know in Crypto This Week: BTC, Coinbase, and the SEC

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The SEC vs. Ripple case entered its third year, with Coinbase also in the courts. Progress toward a crypto-spot ETF market contributed to BTC gains this week.   Key Insights: The crypto market is on course for a ninth weekly gain in ten weeks. BTC-spot ETF-related updates supported a BTC return to $44,000. Coinbase outmuscled the crypto market, rallying 18.65%. Crypto Market Is on Course for a Ninth Weekly Gain in Ten Weeks The total crypto market cap was up 5.76% ($87.86 billion) to $1,613 billion in the current week, ending December 24, 2023. Ongoing progress toward a BTC-spot ETF market drove buyer demand for BTC and the broader market. Significantly, the crypto market is on course for a ninth weekly gain in ten weeks. The crypto market is up 16% for December and set for a four-month winning streak. Clickable Box Sol Swap SLP ICO is live BUY This 1000x Coin Buy SLP Now / Coinbase (COIN) Surges 18.65% in the Week Ending December 22 On Friday, December 22, 2023, Coinbase (COIN) shares rallied 4.43%. The positive Friday session delivered a gain of 18.65% for the week ending December 22, 2023. Significantly, France approved Coinbase as a registered VASP, enabling Coinbase to offer its full suite of services to users in France. Progress on expansion plans beyond the US and Binance’s legal woes contributed to the recent gains. Significantly, the gains came despite the ongoing SEC v Coinbase case. There have been no case-related updates for investors to consider in recent weeks. Investors must wait for a court hearing on January 17, 2024. The SEC and Coinbase will deliver oral arguments on the Coinbase motion to dismiss (MTD). Coinbase filed the MTD in August 2023, arguing the SEC lacks the statutory authority to regulate crypto exchanges. If Judge Katherine Failla grants the MTD, the US crypto market could experience the end of the SEC’s regulation by enforcement. SEC Chair Gary Gensler Retargeted Cryptos with the Fraudster Badge SEC Chair Gensler delivered a holiday cheer message to the crypto market on Thursday. Gensler shared a December 14 speech that talked about noncompliance with securities laws. Gensler also highlighted the level of fraud and the number of bad actors in the crypto space. Calling the crypto market the Wild West, he also said that bad actors exist globally. The timing of the post was poignant. Chief Legal Officer Stuart Alderoty celebrated the third birthday of the SEC vs. Ripple case, saying, So let me get this straight. Government lawyers lie to the Court to gain an unfair advantage in litigation and the SEC’s answer is to say that going forward those lawyers will now be taught to be honest when saying things to Judges. Gensler’s SEC has become a travesty. On Friday, the SEC filed a response to an SEC vs. Debt Box court order. The presiding Judge ordered the SEC to argue why the court should not reprimand SEC lawyers for making false and misleading statements in the SEC vs. Debt Box case.

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The Future Of Cryptocurrency And Trends 2024

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In the ever-changing domain of finance, the dynamic evolution of digital assets, particularly cryptocurrencies, is a testament to the continual progress within the industry. As we approach a new year, it is both wise and timely to contemplate the trajectory that the crypto landscape is poised to embark upon in 2024. The preceding year witnessed remarkable growth, technological advancements, increased regulatory clarity, and a growing acceptance of digital currencies among both retail and institutional players.   Mass Adoption and Mainstream Recognition The year 2023 experienced a substantial surge in the mainstream embrace of cryptocurrencies. Major financial institutions welcomed digital assets, setting the stage for a potential surge in mass adoption in 2024. With regulatory clarity improving globally, a larger influx of traditional investors is anticipated. As the stigma surrounding cryptocurrencies diminishes, a broader acceptance in everyday transactions is expected, ultimately leading to their integration into global financial systems. Central Bank Digital Currencies (CBDCs) Clickable Box Sol Swap SLP ICO is live BUY This 1000x Coin Buy SLP Now / Central Bank Digital Currencies (CBDCs) have captured the attention of central banks worldwide. In 2024, numerous countries are poised to make significant progress in developing and implementing their own CBDCs. This shift signifies a paradigm change in how governments perceive and utilize digital currencies. Although CBDCs are not decentralized like cryptocurrencies, their adoption points to an increasing acceptance of digital assets. Furthermore, the incorporation of CBDCs could streamline financial transactions, reduce fraud, and enhance the effectiveness of monetary policy. Interoperability and Cross-Chain Solutions The year 2024 will witness a pronounced emphasis on blockchain interoperability as the crypto space moves toward a more interconnected ecosystem. Cross-chain solutions and interoperability protocols will play a pivotal role in enabling seamless communication and asset transfer between different blockchain networks. Projects aiming to bridge the divide between disparate blockchains are expected to gain traction, fostering collaboration and innovation throughout the decentralized landscape. Enhanced Security Measures As the cryptocurrency industry continues to expand, so does the sophistication of cyber threats. In 2024, an increased focus on security measures within the crypto space is anticipated. Blockchain projects and exchanges are poised to invest in robust security infrastructure, incorporating advanced encryption techniques and decentralized storage solutions to safeguard user assets. The industry’s commitment to enhancing security is crucial for maintaining trust and confidence among users, both institutional and retail. Evolving Regulatory Landscape A defining aspect of the regulatory landscape in 2024 is the emergence of a global patchwork of regulations. Different countries are approaching cryptocurrency regulation in diverse ways, reflecting the unique economic, social, and political landscapes of each nation. Regulatory clarity is becoming a key driver for mainstream adoption, empowering traditional financial institutions to actively engage with digital assets. Decentralized Finance (DeFi) Maturation The decentralized finance (DeFi) space, a hub of innovation offering a range of financial services without traditional intermediaries, is poised to mature further in 2024. Addressing challenges related to user experience, security, scalability, and overall functionality, improved infrastructure and interoperability between different DeFi platforms will create a more robust and user-friendly decentralized financial landscape. As DeFi becomes more accessible, traditional financial institutions may need to adapt to avoid obsolescence. Conclusion The outlook for cryptocurrency in 2024 is characterized by unprecedented growth, maturation, and integration. The industry must remain vigilant in addressing challenges such as security, regulatory compliance, and environmental impact to sustain the trust and confidence of its diverse user base. The collective efforts of developers, regulators, and stakeholders will play a pivotal role in shaping a future that is more interconnected, efficient, and inclusive in the financial ecosystem.

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MicroStrategy now hodls 174,530 Bitcoins an additional purchase of 16,130 BTC

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MicroStrategy, a leading business intelligence and cloud computing company, has announced that it has acquired 16,130 more Bitcoin in the fourth quarter of 2023, worth about $593.3 million at the time of purchase. This brings the company’s total Bitcoin holdings to 181,000, which it claims to be the largest corporate Bitcoin treasury in the world. The company’s CEO, Michael Saylor, has been a vocal advocate of Bitcoin as a store of value and a hedge against inflation. He has repeatedly stated that he believes Bitcoin is superior to gold and other traditional assets, and that he intends to hold it for the long term. He has also encouraged other companies and institutions to follow his example and adopt Bitcoin as part of their balance sheet strategy. MicroStrategy’s latest purchase comes amid a bullish market sentiment for Bitcoin, which has surged to new all-time highs in November 2023, reaching over $40,000 per coin. The cryptocurrency has also gained more mainstream recognition and adoption, with several countries, banks, and corporations embracing it as a legal tender, a payment option, or an investment vehicle. Source X MicroStrategy’s move is likely to boost the confidence and demand for Bitcoin among other investors and potential adopters, as it demonstrates the company’s commitment and conviction in the future of the digital asset. It also shows that MicroStrategy is not deterred by the volatility and regulatory uncertainty that still surround Bitcoin, and that it is willing to take advantage of the dips and accumulate more coins at lower prices. Clickable Box Sol Swap SLP ICO is live BUY This 1000x Coin Buy SLP Now / The company’s stock price (MSTR) has also benefited from its Bitcoin strategy, as it has outperformed the S&P 500 index by over 300% since it started buying Bitcoin in August 2020. The company has also issued several convertible bonds and senior notes to raise funds for its Bitcoin purchases, indicating that it has a strong cash flow and credit rating. MicroStrategy now hodl’s 174,530 Bitcoins in Total MicroStrategy’s bold and visionary approach to Bitcoin has earned it the respect and admiration of many in the crypto community, as well as the attention and scrutiny of regulators and critics. The company has faced some legal challenges and investigations from the Securities and Exchange Commission (SEC) and other authorities over its Bitcoin disclosures and accounting practices, but it has maintained its compliance and transparency throughout. MicroStrategy’s example may inspire more companies and institutions to follow suit and allocate some of their capital to Bitcoin, as they seek to preserve their wealth and enhance their returns in an uncertain and inflationary economic environment. MicroStrategy has proven that Bitcoin is not only a viable but a profitable and strategic asset class for the modern era.

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Cryptoors News: $14B Banking Firm Starts First Crypto Fund in Spain

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A Spain-based banking entity focused on private banking, launched the first crypto fund under Spanish jurisprudence. The firm, with €12.4 billion ($14 billion) in assets under management as of the end of 2022, launched a hedge fund that will be accessible to professional investors, A&G said in a statement released on Monday. The fund managed by A&G will have CACEIS, the asset servicing banking group of Crédit Agricole and Santander, as depositary, while it will be audited by PwC. Checkout our Presale page the next 100x coin “We consider it an optimal solution for any European professional investor who wants to approach the world of cryptocurrencies, without forgetting that it is a very high risk fund,” Diego Fernandez Elices, chief investment officer at A&G, said in a statement. In 2022, the Bank of Spain started issuing licenses for providers of services for the exchange of virtual currency for fiat currency and the custody of digital wallets, to which companies such as Bit2Me, Bitstamp, BVNK, Crypto.com and Ripio acceded.

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