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Reports suggested Trump was planning on signing an executive order potentially related to crypto, but the White House had not announced anything at the time of publication. Neither digital assets nor blockchain appeared on the administration’s list of policy priorities as they were first published on Jan. 20.
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Since taking the oath of office at 12:00 pm ET, Trump has not mentioned digital assets or blockchain on his first official day as US president. He had also pledged to commute the sentence of Silk Road founder Ross Ulbricht.
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In 2023, Ramaswamy — who earned most of his $1 billion net worth from founding biotechnology startup Roivant Sciences — campaigned against Trump in the Republican presidential primary.
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Ramaswamy, an outspoken ally of President-elect Donald Trump, founded Strive in 2022. The asset manager aims to help investors “harness the power of capitalism,” according to Strive’s website.
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Other companies have followed suit. Corporate treasuries now hold about $56 billion worth of BTC, according to BitcoinTreasuries.NET.NET.
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MicroStrategy has financed its buys by issuing a mixture of new stock and convertible bonds. Its bonds pay low or no interest but may convert to MSTR shares under certain conditions.
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Its stock, MSTR, has since gained more than 2,200%, outperforming practically every sizeable public company except Nvidia.
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Strive has not yet specified the management fees investors will be charged, but actively managed funds typically charge more than passive index funds.
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The Strive Bitcoin Bond ETF will be actively managed and will gain exposure to Bitcoin bonds either directly or through financial derivatives such as swaps and options, Strive said.
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The ETF seeks to offer exposure to “Bitcoin Bonds,” described as “convertible securities issued by MicroStrategy” or by other companies that plan to “invest all or a significant portion of the proceeds to purchase Bitcoin,” according to the filing.
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Strive, an asset manager founded by Vivek Ramaswamy, asked United States regulators for permission to list an exchange-traded fund (ETF) investing in convertible bonds issued by MicroStrategy and other corporate Bitcoin buyers, according to a Dec. 26 filing.
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After Salame’s failed attempts to void the guilty plea and delay the start of the sentence, he submitted to prison custody on Oct. 11 at the FCI Cumberland correctional facility, a medium-security prison.
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Budorin said that attackers exploit gaps in security setups and that it is critical “to adopt stricter key management practices and automated monitoring” systems to mitigate these risks.
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The significant difference in financial losses between the DeFi and CeFi sectors highlights an opportunity for improvement in both industries.
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These hacks involved compromised private keys and multisignature vulnerability exploits, facilitating the theft of $305 million and $230 million, respectively, from the exchanges.
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The surge in breaches is attributed largely to access control exploits and notable incidents like the DMM Exchange hack in the second quarter and the WazirX hack in the third quarter.
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According to the Hacken report, CeFi’s experiences in 2024 starkly contrast the improvements seen in DeFi, witnessing more than double its 2023 financial losses to $694 million this year.
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Despite DeFi improvements, such as multiparty Computation (MPC) and zero-knowledge proofs (ZKPs), challenges persist, as seen in access control vulnerabilities accounting for nearly half of all DeFi losses — like the Radiant Capital $55 million hack.
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Hacken’s 2024 report shows a steep drop in financial losses in 2024 for DeFi, falling from $787 million lost in 2023 to $474 million in losses this year.
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The report’s findings detail a stark difference between DeFi’s progress and CeFi’s struggles, providing a critical lens of both spaces as the vulnerabilities of centralization become clearer.
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