Twitter said 'No' to crypto, for now - Elon Musk explains! 🤔
Welcome to the Daily Tribune Saturday, June 22, 2024 ☕️
Hello Cointribe! 🚀
Today is Saturday, June 22, 2024, and like every day from Tuesday to Saturday, we summarize the news of the past 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Partly sunny 🌤️
24h crypto recap! ⏱
Elon Musk takes a break from crypto 🚫
Elon Musk, a fervent supporter of crypto, surprised by announcing that Twitter's new payment service, called "X Payments," will not integrate cryptocurrencies at its launch. This service, designed to function similarly to Venmo, is focused on fiat currency payments. The decision reflects a cautious and regulated approach, despite Musk's notorious interest in cryptocurrencies, particularly Dogecoin. This strategy could evolve over time, depending on the regulatory landscape and cryptocurrency payment infrastructure. Read the full article
The US Treasury crusades against crypto 💥
The US Department of the Treasury has issued a warning against four major cryptocurrencies, identifying risks to the US financial system. The spotlight on Bitcoin, Ethereum, Monero, and Tether as vectors for illicit activities highlights their destabilizing potential. The report recommends increased vigilance and regulatory actions to protect consumers and investors while sanctioning fraudulent activities related to these digital assets. Read the full article
Canada to soon launch the first Solana ETF 🌐
Canada is innovating in the crypto space with the announcement of the first Solana ETF, introduced by digital asset manager 3iQ on the Toronto Stock Exchange. This ETF, traded under the symbol QSOL, will allow investors to gain direct exposure to the SOL crypto, with expected staking yields between 6 and 8%. This initiative follows the successful launches of Bitcoin and Ethereum ETFs in the country, strengthening Canada as a leader in regulated crypto financial products. Read the full article
Pro-crypto candidate shakes up French politics 💼
Aurore Galves-Orjol, without partisan affiliation, is running for legislative elections in Isère as a pro-crypto candidate. A professor in business schools and co-founder of Bitcoin-Lyon, she uses Bitcoin to finance her campaign, highlighting the importance of monetary sovereignty and decentralization in the face of traditional state structures. She sees Bitcoin as a tool for individual sovereignty and an opportunity for an ecological transition. Aurore hopes to initiate a pan-European movement in favor of cryptocurrencies. Read the full article
Crypto of the day: Pendle (PENDLE)
Pendle is an innovative cryptocurrency that operates on the Ethereum blockchain. Its added value lies in its ability to enable the tokenization and exchange of future digital asset yields, offering new possibilities for risk management and yield optimization.
The main utility of PENDLE is to facilitate transactions on the Pendle platform, which allows users to trade future cash flows of diverse assets. The initial distribution of PENDLE was done through a private and public sale. PENDLE holders enjoy several benefits, including the ability to participate in platform governance and receive discounts on transaction fees. PENDLE can be used to exchange future cash flows, invest in complex financial products, or simply speculate on price fluctuations.
Recent Performances
Current price: €6.09
Percentage increase/decrease (in 1 day): 4.82% increase
Market cap: €943,152,022
Rank on CoinMarketCap: 72
Bitcoin at $200,000: Here's when it will happen!
According to Bernstein's analysis, Bitcoin could reach $200,000 by 2025, driven by increased institutional adoption and growing interest in Bitcoin ETFs. Financial institutions may increase their allocations to Bitcoin due to its deflationary nature and growth potential in an unstable economic environment. These movements would be amplified by targeted marketing campaigns promoting Bitcoin as a secure and profitable asset.
Bernstein also emphasizes that, despite recent increases, Bitcoin is still undervalued compared to its future potential. They highlight technological developments in blockchain and improvements in regulations that could promote broader and more secure adoption. The analysis includes an examination of current entry barriers and regulatory challenges that, once resolved, could pave the way for a more accessible and mature market for Bitcoin.
