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BlackRock’s iShares Bitcoin Trust (IBIT) has just recorded its largest outflow since it launched a year ago — as United States trading resumed on Jan. 2.
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Investors filed a lawsuit against several entities involved in the launch of the Hawk Tuah (HAWK) memecoin on Dec. 19, alleging that the defendants engaged in the promotion and sale of an unregistered securities offering.
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Semenov, a Russian national, is at large. Tornado Cash’s third co-founder, Alexey Pertsev, was arrested in the Netherlands on related charges in August 2022 and remains in pre-trial detention.
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According to a Bloomberg report, people familiar with the matter said that Quintenz had been interviewed for the position.
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Bitcoin is consolidating just below the $100,000 level, suggesting the bulls anticipate the uptrend to continue. Global Macro Investor founder and CEO Raoul Pal posted a chart on X suggesting that Bitcoin could form a local top above $110,000 by January.
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Marcus said he felt the need to disclose these details after Marc Andreessen, a founder of tech-focused venture capital firm Andreessen Horowitz, discussed political pressures the industry has faced on The Joe Rogan Experience podcast.
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Meta abandoned the Diem project in early 2022 after selling its intellectual property and assets to Silvergate Capital, which went into voluntary liquidation in March 2023 and filed for bankruptcy in September.
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The nail in the coffin occurred when the Federal Reserve supposedly told several banks that they were “not comfortable” with them participating in the project.
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Powell was then told by Treasury Secretary Janet Yellen that allowing the project to move forward was “political suicide,” Marcus claimed.
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After addressing several regulatory concerns ranging from money laundering to consumer protection, Federal Reserve Board of Governors Chair Jerome Powell was supposedly ready to let the project move forward in a “limited way.”
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Two weeks after announcing the project’s launch, Marcus was called to testify before the Senate Banking Committee and the House Financial Services Committee, which he says marked the start of “nonstop work and changes to appease lawmakers and regulators.”
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“It would’ve solved global payments at scale,” said Marcus, now CEO of Lightspark, a payments solution that leverages Bitcoin and the Bitcoin layer 2 Lightning Network.
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Meta’s Diem (formerly known as Libra) aimed to develop a decentralized payments network with a US dollar-integrated stablecoin when it launched in June 2019. It received support from Visa and PayPal, where Marcus previously served as president.
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“There was no legal or regulatory angle left for the government or regulators to kill the project. It was 100% a political kill, one that was executed through intimidation of captive banking institutions,” Diem co-creator David Marcus said in a Nov. 30 X post.
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Crypto commentator Sam KB wrote in a Nov. 22 X post, “Every time M2 hits a high, so does BTC... apart from this cycle.
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Meanwhile, Glassnode lead analyst James Check said that “much of this M2 decline is due to dollar strength, right? Effectively ‘devaluing’ the M2 of the ROW.”
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“All of these are just distractions. You could do it with the stock market, and it’s more realistic,” he added.
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Macroeconomist Lyn Alden stated in a September 2024 report that Bitcoin moves in the direction of global liquidity 83% of the time in “any given 12-month period.”
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“I don’t want to alarm anyone, but if it continues, Bitcoin could be in for a 20-25% correction,” Consorti added.
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Bitcoin’s price has increased alongside the M2 money supply, as increased M2 often signals inflationary pressures, prompting investors to seek riskier assets like Bitcoin to hedge against inflation.
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