GildCoin - Crypto News

2024-03-17 18:46:01 Prosecutors Demand 50 Years for Bankman-Fried, Citing FTX Founder’s Repeated Gambles ‘With Other People’s Money’

U.S. prosecutors are not holding back in their pursuit of justice, seeking a 50-year sentence for the former FTX head, SBF. They're also pushing for $11 billion in penalties and the forfeiture of significant assets. Attorney Williams argues that the gravity of SBF's crimes warrants this hefty punishment, especially when compared to the defense's plea for much lighter sentences.

Despite his privileged background and promising start in finance, Bankman-Fried's choices have been far from prudent. Prosecutors highlight his penchant for risk-taking and gambling with other people's money, while noting his lack of remorse. Williams stresses that true justice demands a sentence that matches the magnitude of his wrongdoing.

The court proceedings have shed light on SBF's eleventh-hour attempts to salvage FTX through a new venture called "Archangel LTD." This last-ditch effort was rife with intriguing strategies, including courting media attention and even considering a political pivot on national television.

Heart-wrenching messages from devastated FTX customers paint a grim picture of financial ruin and shattered dreams. People express not just monetary losses but also the deep emotional toll it has taken on their lives and relationships.

While SBF's defense presents letters vouching for his character, including one from his mother, Barbara Fried, who adamantly believes he is no threat to society, prosecutors remain resolute in their pursuit of a severe sentence.

In this high-stakes legal battle, the future of one man hangs in the balance as prosecutors argue for a punishment that matches the scale of his alleged misdeeds. Open / Comment

2024-03-15 19:00:24 Onmi's Epic Journey Begins!

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2024-03-15 17:30:39 JPMorgan Sounds Alarm Over MicroStrategy’s $20B #Bitcoin Buying Spree

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2024-03-14 17:44:03 Ethereum's Dencun Upgrade: A Game-Changer for Lower Fees and Enhanced Scalability!

Lower fees, faster transactions, and improved scalability are now a reality with Ethereum's latest upgrade, Dencun. This much-anticipated enhancement is set to revolutionize the way we interact with the Ethereum network, making it more cost-effective and user-friendly.

Scaling up with style, Dencun brings in a host of performance optimizations that promise a smoother experience for Ethereum users. With better transaction processing, reduced gas fees, and increased throughput, the platform's efficiency is about to reach new heights.

But it doesn't stop there! The upgrade also includes tweaks to the consensus mechanism and other protocol enhancements, making Ethereum even more robust and user-centric. Keep an eye out for EIP-4844, aka "Proto-Danksharding," which aims to supercharge data storage within the network.

Market-wise, Ethereum's value has remained steady post-announcement, but it's been on an upward trajectory lately. With a 4% rise against the U.S. dollar in just a week and impressive gains of 19.2% in the past fortnight, ETH is catching investors' attention.

ETF enthusiasts, take note! While institutions are lining up for spot ether ETFs, regulatory approval from the SEC is still pending. The wait continues as the SEC seeks public input before making any decisions.

In a nutshell, Ethereum's Dencun upgrade is not just another update – it's a leap forward towards a more efficient and accessible blockchain future! Open / Comment

2024-03-11 18:44:02 "Wolf of All Streets" Predicts Major Bull Run for Bitcoin and Crypto Market — Warns of Bubble Burst!

Scott Melker, the renowned trader and host of the Wolf of All Streets podcast, has made a bold proclamation on X Friday. According to him, we are just witnessing the beginning of an exciting bull run for bitcoin and the wider crypto market.

However, Melker doesn't shy away from cautioning about a potential bubble. He believes that even coins lacking fundamental value might experience an astonishing surge before the inevitable burst.

Amidst all the excitement, Melker remains grounded. He observes an overwhelming amount of hype, with people confidently predicting their future riches. Yet, he can't help but notice the numerous daily deals flooding his inbox, most of which are likely to falter.

Bitcoin's recent price surge, surpassing its previous record, is seen by many as a result of soaring demand for spot bitcoin ETFs and the upcoming halving event. The market is buzzing with optimism.

Notably, Melker isn't alone in his bullish sentiment. Other prominent figures in the crypto space echo his optimism. Bitwise's CIO predicts BTC could reach $200K due to high demand and limited supply, while Galaxy Digital's CEO sees a global hunger for bitcoin. Even veteran trader Peter Brandt has raised his price target for this bull market. Open / Comment

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2024-03-08 19:49:02 Powell Soothes CBDC Fears: No Direct Fed Accounts, Congress Holds the Key

Fed Chair Jerome Powell took center stage before the Senate Banking Committee, addressing concerns about a Central Bank Digital Currency (CBDC). But don't expect it to roll out anytime soon, he emphasized, assuring that the traditional banking system would remain at the forefront and no individual accounts at the Federal Reserve were on the cards.

Individual accounts? Not for every American, Powell made clear. Those perks are reserved for private banks, a practice that won't change. So, rest easy – a CBDC isn't looming on the horizon just yet, he assured the committee.

But what about Congress? Senator Cynthia Lummis probed Powell on whether their green light was needed for a CBDC launch. The answer was a resounding "Yes!" – legislative approval is a must, according to Powell's firm stance.

As for the federal funds rate and potential cuts down the line, Powell played it cautious. Any decisions on rates will be taken only when absolutely necessary, he stressed during his presentation to policymakers on Capitol Hill. And let's not forget the impact of immigration on the economy – it's all part of the Fed's watchful eye.

With Powell at the helm, it seems like steady hands are guiding America's monetary ship through these uncertain waters. Open / Comment

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2024-03-05 18:54:01 Microstrategy's Bold Move: $600M Convertible Note Sale Fuels Bitcoin Buying Spree

Microstrategy Inc. (Nasdaq: MSTR) is once again making waves in the crypto world as it unveils plans to issue $600 million in convertible senior notes, with a clear mission in mind – more bitcoin!

With an eye on future growth, the tech-savvy company aims to bolster its digital treasure chest, using the proceeds from this financial maneuver to acquire additional BTC and for general corporate purposes.

The fine print reveals that these notes will be unsecured but carry the weight of being senior obligations. Interest payments will come knocking twice a year, starting September 15, 2024, and maturing on March 15, 2030 – unless, of course, they're converted or redeemed earlier.

To ensure a smooth transaction, Microstrategy plans to offer these notes to qualified institutional buyers, following the rules laid out by Rule 144A under the Securities Act.

This isn't Microstrategy's first rodeo when it comes to creative financing for their bitcoin ambitions. Just months ago, they embarked on a similar journey, raising another $600 million through convertible notes to expand their BTC holdings.

Microstrategy's visionary leader, Michael Saylor, continues to champion bitcoin's cause. With their stash now standing at an impressive 193,000 BTC, he boldly declares it as a superior asset class and predicts that capital will keep flowing into this crowd-favorite investment.

In a world where traditional finance meets the cutting edge of cryptocurrency, Microstrategy is carving its own path – one convertible note at a time. Open / Comment