Crypto News– Ethereum co-founder, Vitalik Buterin, recently made headlines by selling his remaining 500 MakerDAO tokens (MKR) shortly after MakerDAO proposed a potential migration from Ethereum to Solana, a competing blockchain.
Vitalik Sells MakerDAO Tokens, Growing Confidence in Bitcoin ETFs, and More
On September 2, this transaction was initially reported by the on-chain analytics platform Lookonchain, which pointed out that Buterin had held these MKR tokens for over two years.
Data from another blockchain analytics platform called Arkham suggests that this sale likely marks the end of Buterin’s known MKR holdings, as his MKR portfolio now shows a balance of $0. It’s worth noting that the $520,000 worth of MKR reported by Arkham accounted for only around 0.12% of Buterin’s cryptocurrency holdings, which total around $407 million.
MakerDAO has been developing its own native chain called “NewChain,” which is part of the fifth and final phase of the MakerDAO “Endgame” upgrade. Interestingly, MakerDAO co-founder Rune Christensen has expressed a desire to launch NewChain on the Solana blockchain.
This ETF is going to be a demand shock. There is going to be assets that flow into this industry […] the closer and closer we get to the halving it will coincide with a supply shock and we could see a repeat of 2020 where we go up quite significantly in price.
Anthony Pompliano
In a separate development, Bitcoin investor and podcaster Anthony Pompliano has expressed confidence in the approval of spot Bitcoin ETFs in the near future. He believes that the approval of such ETFs, along with the upcoming Bitcoin halving event scheduled for April 2024, will lead to a significant increase in the price of Bitcoin. Pompliano anticipates that these spot Bitcoin ETFs will be approved in the lead-up to the halving event, resulting in substantial institutional investment.
In summary, Vitalik Buterin’s sale of his remaining MKR tokens coincided with MakerDAO’s potential move to Solana, and Anthony Pompliano is optimistic about the approval of spot Bitcoin ETFs and their impact on the cryptocurrency market.
Musk Biography Reveals He’s Been Quietly Funding Dogecoin
An excerpt from Elon Musk’s recently disclosed biography reveals his early aspirations to develop an all-encompassing “everything app” built on blockchain technology, with plans to incorporate Dogecoin (DOGE) for in-app payments.
This snippet, made public through The Wall Street Journal on August 31, discloses that Musk was somewhat serious about integrating Dogecoin as a payment method within the X platform (formerly Twitter). He was reportedly providing financial support to the meme cryptocurrency project.
It could fulfill my original vision for X.com and PayPal.I think a new social-media company is needed that is based on the blockchain and includes payments.
Elon Musk
The context behind this revelation centers on Musk’s vision of transforming X into a comprehensive payment platform where users could send money, offer tips, and purchase content like stories, music, and videos. One of Musk’s proposed strategies was to charge a nominal fee for user verification, which eventually became a revenue source for the platform. Musk, a multibillionaire, has nurtured the idea of creating an “everything app” that combines banking services, social media, and various other applications since he founded X.com more than two decades ago.
Tom Emmer Rejects Gary Gensler’s Allegations That The Cryptocurrency Industry is Plagued by Widespread Noncompliance
The Minnesota Congressman added that he was pleased to see the U.S. Government’s system of checks and balances be played out, with the Court of Appeals holding what Emmer describes as an “abusive” administrative state accountable.
In recent months, Emmer has made a number of pro-crypto efforts of his own, having introduced the Blockchain Regulatory Clarity Act in March and the CBDC Anti-Surveillance State Act in February, which aims to limit the U.S. Federal Reserve from issuing a central bank digital currency.
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