A top executive from crypto exchange OKX says that anti-crypto regulations in the US are only temporary and that the American digital asset sector will become strong again. In a new interview on The Wolf of All Streets podcast, OKX president Hong Fang tells host Scott Melker that she doesn’t expect crypto regulations in the […]
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Macro investor and fund manager Dan Tapiero is doubling down on his prediction Bitcoin (BTC) will soar to as high as $500,000. In a new interview with Scott Melker, Tapiero says that he named his crypto investment fund 10T after his 2019 prediction that the total market cap for cryptocurrencies would increase 30x and reach […]
The post Bitcoin To Reach $300,000 to $500,000 in Massive Price Eruption, According to Macro Guru Dan Tapiero – Here’s Why appeared first on The Daily Hodl.
Bitcoin is "untouchable,” because it's more decentralized than other cryptocurrencies in the space such as Ether according to senior commodity strategist Mike McGlone.
Bitcoin (BTC) is "untouchable" despite ongoing regulatory pressures in the crypto sector and those who don't have some crypto exposure are "seriously silly" according to Bloomberg's senior commodity strategist Mike McGlone.
During an April 3 stream with crypto podcaster Scott Melker, McGlone argued that unlike other cryptocurrencies such as Ether (ETH), Bitcoin couldn't be killed by regulators because it's more decentralized.
Can #Bitcoin replace the banks? And can it remain uncorrelated if markets crash again?
— The Wolf Of All Streets (@scottmelker) April 3, 2023
Discussing with weekly guests @mikemcglone11 and @daveweisberger1.
It’s Macro Monday at 9:30 am EST. https://t.co/WDVCbkkWyU
"There's so much disdain about regulators pushing back on the whole space, and that's the key thing where Bitcoin sticks out,” McGlone said.
“You can't do anything to this, and you can't kill it and it's just unprecedented; it is untouchable."
"You could make a case that Ethereum is a security when you hear about all these upgrades and people doing this and people doing that to make it better, I'm like okay well that's kind of scary, can't do that to Bitcoin, it's why it's fine and impressive," McGlone added.
The crypto sector has faced a wave of crackdowns in the United States recently, with the U.S. Securities and Exchange Commission (SEC) filing charges against crypto exchange Kraken for its staking services, then suing stablecoin issuer Paxos over Binance USD (BUSD). The regulator also proposed rule changes targeted at crypto firms operating as custodians.
McGlone stated he is still bullish on BTC but expects the price to go down again in step with other assets if a recession hits.
Back in January, he warned BTC might not see the surge being predicted just yet, as there are challenging macroeconomic conditions and pressure from interest-rate hikes.
According to McGlone the April 2 decision by the Organization of the Petroleum Exporting Countries (OPEC) to reduce daily oil output makes a recession more likely, as well as interest rate hikes from the Federal Reserve to clamp down on inflation.
"We had our morning call this morning and our economist Anna Wong said, Yeah, their base case is for that recession to kick in Q3," he said.
"OPEC is helping that. Fed tightening is helping that. So all assets have to go down. That means Bitcoin too. It's the fastest horse in the race. So I'm overall, certainly relatively bullish."
Related: Bitcoin likely to outperform all crypto assets following banking crisis, analyst explains
In McGlone's opinion, it's "seriously silly" to risk not having some exposure to crypto or trying to stand in its way.
"The key thing I look at simplistically for Bitcoin is, if you're a money manager, why take the risk of not having some of this revolutionary asset, particularly because it's so controversial you want to have at least some in it because you don't want to look like an idiot over history,” he said.
"The smart guys get it; we're not gonna be a Blockbuster or Sears, and we're going to be part of this technology."
Magazine: US enforcement agencies are turning up the heat on crypto-related crime
Bloomberg Intelligence strategist Mike McGlone says Bitcoin (BTC) could be the best bet for macro investors, but warns a looming recession may pose a threat to its gains in the near term. In a new live stream with Scott Melker, McGlone says Bitcoin’s decentralized nature will protect it from US regulators who appear to be […]
The post Bloomberg Analyst Says Bitcoin (BTC) the ‘Fastest Horse’ – But Issues Economic Warning appeared first on The Daily Hodl.
Bloomberg Intelligence senior macro strategist Mike McGlone says the stage is being set for a strong Bitcoin (BTC) performance next year. In a new interview with Scott Melker, McGlone says that Bitcoin’s halving event, plus a series of other fundamental developments, are set to boost the flagship cryptocurrency in 2024. Bitcoin undergoes a halving every […]
The post Bloomberg Analyst Says Great Set Up Forming for Bitcoin (BTC) Before 2024 Halving appeared first on The Daily Hodl.
Grayscale CEO Michael Sonnenshein says the worst of the crypto markets is likely over and digital currencies are showing signs of decoupling from traditional equities. In a new interview with crypto analyst Scott Melker, Sonnenshein says the contagion from the FTX collapse and other crypto sector setbacks is no longer something to worry about. “I’d […]
The post Grayscale CEO Michael Sonnenshein Updates Crypto Market Outlook, Names One Thing He’s Excited About appeared first on The Daily Hodl.
Widely followed economist and crypto analyst Alex Krüger says he feels the bottom is likely in and a volatile move to the upside could be taking shape. In a new live stream with Scott Melker, Krüger says he’s expecting crypto markets to enter a bullish phase. Krüger says that barring a black swan event, he […]
The post Economist Alex Krüger Says Crypto Markets Could Enter ‘Ballistic’ Phase As Macro Climate Shifts appeared first on The Daily Hodl.
SkyBridge Capital chief executive Anthony Scaramucci says Bitcoin (BTC) will have a clear bottom once the Federal Reserve ceases raising interest rates to lower inflation. In a new YouTube interview with crypto influencer Scott Melker, Scaramucci says the Fed is on the verge of changing its hawkish policy, which would cause risk assets like Bitcoin […]
The post Anthony Scaramucci Predicts One Catalyst Will Trigger Bitcoin Boom, Says Now’s a Great Time To Accumulate BTC appeared first on The Daily Hodl.
The crypto community raised many questions about how FTX's former CEO was able to secure bail and the conditions it will come with.
Crypto Twitter has seemingly taken issue with Sam Bankman-Fried’s $250 million bail bond, allowing him to spend Christmas in his parent’s Palo Alto home without paying a single dime upfront.
The former FTX CEO arrived in New York from the Bahamas on Dec. 21 and appeared in court on Dec. 22 where he was released on bail via a “personal recognizance bond” — essentially a written promise from the defendant that they will show up for future court appearances and not engage in any illegal activity while out on bail.
According to the release agreement filed on Dec. 22, no cash was required to be deposited with the court, but the bond conditions see to it that Bankman-Fried’s parent’s five-bedroom home in Palo Alto will be used as collateral for the $250 million bond.
Some of the crypto community on Twitter were initially confused by the $250 million no-upfront-cost bail conditions, questioning how Sam Bankman-Fried was able to post the $250 million bail figure after he previously claimed he had less than $100,000 in his bank account.
Funny how SBF is able to post the $250M bail not long after saying he only had $100k.
— Benjamin Cowen (@intocryptoverse) December 22, 2022
So he probably is using stolen customer deposits to stay out of jail.
Under the bail agreement, the bond is only paid up if Sam Bankman-Fried doesn’t appear for future court appearances or violates other conditions of his bail, such as appearing for court proceedings and surrendering to serve a court sentence.
Meanwhile, those who reviewed the court documents instead shared concerns over Bankman-Fried’s guarantors — including his father, Allan Joseph Bankman, and mother, Barbara Fried, who would be on the hook should SBF violate the conditions of his bail.
Host of the Wall of All Streets Podcast Scott Melker tweeted on Dec. 23 saying that while SBF didn’t have to pay $250 million to stay out of jail, if he “skips bail,” his parents will have to work “17 extra jobs” to come up with the money.
Vocal crypto Twitter user Autism Capital elaborated on the matter explaining that while he has not had to pay any money upfront, he has put his parents, relatives, and non-relatives in a difficult situation.
Sam is out on a personal recognizance bail. What this means is that NO MONEY has been paid. His parents put up their home as collateral, one relative and a non-relative have also put up collateral. All of them would be on the hook for $250M if Sam runs. https://t.co/F85qHFVQDQ
— Autism Capital (@AutismCapital) December 22, 2022
While the host of the Regulatory Jason Podcast, Jason Brett, tweeted on Dec. 23 that while it might not be fair that SBF is staying in a luxurious home while on trial, he reminded his followers that everyone in the United States is entitled to a fair trial and the presumption of innocence.
People are impatient to see @SBF_FTX pay for his crimes. However, the reason America is different is how we treat those accused. Is it fair that he gets to be in a luxury home in a warm climate during trial? Life isn’t fair but we can get a shot at the truth of what happened.
— Jason Brett (@RegulatoryJason) December 22, 2022
Steven McClurg tweeted a statement implying that SBF’s parents shouldn’t be allowed to put up their home as collateral on the $250 million bail as the home was bought with “stolen FTX funds.”
So @SBF_FTX parents, who bought a home in Bahamas with stolen FTX funds, will use their other home as collateral on the $250mm bail?
— Steven McClurg (@stevenmcclurg) December 22, 2022
Related: SBF sent home after his parents put up their house to cover his astronomical bail bond
Some Twitter users also found it amusing that SBF’s bail conditions did not restrict him from using a computer whilst being released on bail.
So @SBF_FTX is out on bail, has no restrictions on his use of computers, and follows me on Twitter. Awkward.
— David "JoelKatz" Schwartz (@JoelKatz) December 23, 2022
The former 45th president of the United States, Donald Trump, announced the launch of his new non-fungible token (NFT) trading cards on Dec. 15, 2022. Trump revealed the NFT collection via his Truth Social account and the former president told his fans that the NFTs would “make a great Christmas gift.” Former President Drops the […]