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Adarshzunil
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what you think? #meme #memes #xrp
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Russia's Deputy Finance Minister disclosed that only one-third of crypto mining firms are operating legally, despite a new law mandating registration with the Federal Tax Service (FTS). A report from TASS indicated that over half of these companies remain unregistered. Since the law's implementation in November 2024, only 30% of miners have complied. The legislation, approved in August 2023, aims to regulate the mining sector and curb illegal activities. By December 2024, more than 100 companies had applied for registration, but the FTS's head, Daniil Yegorov, noted that this figure was still low. At the St. Petersburg International Economic Forum, Chebeskov emphasized the need for more miners to register, stating that the goal is to fully legalize the industry. The Ministry of Digital Development is also working on amendments to impose fines for illegal mining and enhance enforcement against unregistered operations. This includes potential confiscation of crypto assets and penalties for unauthorized transactions. #MarketPullback #BinanceAlphaAlert
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On June 19, Joseph Lubin, co-founder of Ethereum and CEO of Consensys, shared an extensive valuation perspective on Ether via an X post. He praised a research note that compared ETH to 'digital oil,' but argued it underestimated Ethereum's potential. Lubin believes Ether will be central to a 'hybrid human-machine intelligence society,' creating value that could far exceed the current $113.8 trillion global economy. He suggested that the value flowing through Ethereum, a key component of the re-decentralized Web3, could surpass today's global GDP. Lubin contrasted Bitcoin as 'Gold 2.0' with ETH as the asset of a programmable economy, emphasizing the need to consider the impact of AI on digital activity. He proposed a thought experiment about a hypothetical 'trust-diamond commodity' that could significantly boost global GDP, equating this to ETH. Despite Ether's current market cap of around $307 billion, he sees potential for substantial growth, driven by a tightening supply and the emerging demand for trust in transactions. #ETHETFsApproved #USNationalDebt #ScalpingStrategy
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Michael Saylor has suggested that his company, now called Strategy, may acquire more Bitcoin, despite facing a lawsuit from investors over a $5.9 billion loss in the first quarter related to its Bitcoin investments. On Sunday, Saylor shared a chart of past Bitcoin purchases on X, captioned, "Nothing Stops This Orange," which has often preceded previous acquisitions. Strategy holds the largest Bitcoin reserves among public companies, totaling 592,100 BTC valued at approximately $59.7 billion. The lawsuit, filed by investor Abhey Parmar, claims that Saylor and other executives misled investors regarding the impact of a new accounting rule that allowed the company to report Bitcoin at market value, leading to significant losses. The complaint alleges that executives failed to disclose the risks associated with Bitcoin's volatility and engaged in insider trading while the stock was inflated. Despite these challenges, shares of MicroStrategy Inc. have risen nearly 28% this year, recovering from a low in April. #BinanceAlphaAlert #MarketPullback #SaylorBTCPurchase #MyTradingStyle
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