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Farhan Shaik

@pizzasat

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31 Followers
Farhan Shaik pfp
Farhan Shaik
@pizzasat
a16z Crypto expressed support for the Blockchain Association, DeFi Education Fund, and Texas Blockchain Council to file a lawsuit because the latest threats from the IRS and Treasury Department to DeFi have exceeded statutory authority and are even unconstitutional.
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Farhan Shaik
@pizzasat
Ethiopia uses Africa's largest Grand Renaissance Dam (GERD) to promote Bitcoin mining, and related revenue accounts for 18% of the Ethiopian Electric Power Company's (EEP) revenue. The country's mining investment has reached $1 billion in the past year. The government has cooperated with 25 mining companies to attract international miners to use the low electricity price of about 3.2 cents/kWh to digest excess electricity.
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Farhan Shaik
@pizzasat
Opinion: Market Panic After FOMC Shows Some Overreaction The article analyzes the market pullback after the FOMC meeting. It was caused by concerns over the Fed's possible hawkish stance, leading to sell-offs. But the author argues it's superficial given the U.S. economic situation. Other factors like rising rates, technical issues, and fund flows also affected the market. The author believes the panic was an overreaction. Despite risks, the market downturn offers opportunities in some assets.
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Farhan Shaik
@pizzasat
Avalon Labs has completed a $10 million Series A financing round, led by Framework Ventures. Avalon Labs aims to develop the Bitcoin-backed stablecoin USDa and its Bitcoin DeFi ecosystem. The current TVL of USDa is $700 million.
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Farhan Shaik
@pizzasat
Trump confirmed Bo Hines as the executive director of the Presidential Digital Asset Advisory Committee, working with Chairman David Sacks to promote digital asset innovation and development. Hines was funded by a political action committee supporting cryptocurrencies to run for Congress in 2022, but was unsuccessful in being elected. Trump also appointed former Treasury official Stephen Miran as chairman of the Council of Economic Advisers. Miran previously said that excessive regulation could inhibit bank lending and innovation in the crypto economy.
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Farhan Shaik
@pizzasat
Adam Back, founder of Blockstream, said that the threat of quantum computing will take at least several decades to become a reality. Bitcoin reserves support for future post-quantum (PQ) signature mechanisms through Taproot leaf nodes, which can effectively alleviate the fear of quantum computing without activating anti-quantum signature opcodes at present. Anti-quantum signature technology will also launch a more compact and mature solution in the future.
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Farhan Shaik
@pizzasat
MicroStrategy CEO Michael Saylor released a proposal for the framework, principles and opportunities of digital assets in the United States, and specifically suggested the establishment of Bitcoin reserves, believing that this could create $16-81 trillion in wealth for the U.S. Treasury and provide a new way to offset national debt.
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Farhan Shaik pfp
Farhan Shaik
@pizzasat
According to Bloomberg, Cryptocurrency companies are increasing support for President-elect Trump’s inauguration. Kraken and Ondo Finance each donated $1 million, while Ripple pledged $5 million in XRP tokens. The crypto industry has donated $133 million this election cycle through three Super PACs, mainly from Coinbase, Ripple, and Jump Crypto. MoonPay and Robinhood are also expected to contribute.
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Farhan Shaik
@pizzasat
Bitcoin mining company Hut 8 announced that it purchased 990 bitcoins at an average price of $101,710 per bitcoin, with a total amount of approximately $100 million, bringing its bitcoin reserves to 10,096 bitcoins with a market value of approximately $1 billion, ranking among the top ten companies in the world in terms of bitcoin holdings. These bitcoin reserves will be flexibly managed through option strategies, staking or sales, and plans to continue to look for opportunities to increase holdings in the market.
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Farhan Shaik
@pizzasat
Trump family crypto project World Liberty spent 250,000 USDC to purchase 134,216 ONDO through Cow Protocol at 6:51 UTC+8 on December 16. Ondo Finance focuses on RWA tokenization and improves financial market liquidity and efficiency through products such as tokenized short-term treasury bond fund OUSG and interest-bearing stablecoin USDY. World Liberty is a cryptocurrency project launched by the Trump family with the support of Polychain. LINK AAVE ENA ONDO are all projects invested by Polychain.
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Farhan Shaik
@pizzasat
WikiLeaks founder Julian Assange and his supporters launched "Project Spartacus" to mint 76,911 Afghan war log files into Bitcoin inscriptions on the Ordinals to ensure that these records are preserved forever. These files record confidential content in US military operations, including civilian casualties and interrogation methods
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Farhan Shaik
@pizzasat
The world’s first Bitcoin-backed overcollateralized stablecoin, USDa, has surpassed 200 million in supply within just two weeks of its launch, ranking as the third-largest CDP stablecoin after MakerDAO and JustStables. Issued by Avalon Labs, a leader in Bitcoin-focused on-chain financial platform, USDa represents a major step in mainstreaming Bitcoin-backed stablecoins in the stablecoin sector. Avalon Labs was the champion of the second round of the BNB Incubation Alliance.
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Farhan Shaik
@pizzasat
According to L2Beat, the TVL of the Base network has increased by 5.16% in the past 7 days to exceed $10 billion, becoming the second Ethereum Layer2 network with a TVL of more than $10 billion after Arbitrum. At the same time, on November 24, the TPS of the Base network reached 104.47, setting a new record high
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Farhan Shaik
@pizzasat
Tether announced its upcoming investment in Quantoz Payments to support the launch of EURQ and USDQ euro and US dollar-referenced E-Money Tokens (EMTs) respectively, designed to be MiCAR-compliant. — link The stablecoins will be listed on exchanges Bitfinex and Kraken on November 21. Kraken and Fabric Ventures have also invested in Quantoz
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Farhan Shaik
@pizzasat
The founder of Slowmist reminds that if you need to copy sensitive information on your computer, as long as the computer is connected to the Internet, there are countless possibilities for your sensitive information to be "stolen". If your computer is not equipped with a hardware wallet or iPhone wallet for external confirmation, it is only a matter of time before it is stolen.
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Farhan Shaik
@pizzasat
The Ethereum Foundation released its 2024 report. As of October 31, 2024, EF's asset reserves are US$970.2 million, of which US$788.7 million are crypto assets, 99.45% are in ETH. The goal of EF's asset reserves is to provide financial support for important public products. It is necessary to sell ETH regularly to ensure sufficient reserves in the coming years.
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Farhan Shaik
@pizzasat
The Korea Digital Asset Exchange Association announced that ORB (Orbs) and TEMCO will be included in the trading warning currencies. Deposit business of these two currencies will be suspended. The ORB project failed to truthfully disclose information that had a significant impact on the currency price. TEMCO was for arbitrarily changing important information without public disclosure.
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Farhan Shaik
@pizzasat
Polymarket shows that Trump's winning rate has fallen since it reached a peak of 67% on October 30, and has dropped to 58.1% on November 2, while Harris's has increased from a low of 34.4% to 41.1%. A Washington Post poll found that in the final days, Harris and Trump's support in the most critical state of Pennsylvania was almost the same.
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Farhan Shaik
@pizzasat
According to WSJ, the French user who spent more than $38 million on betting on Trump's victory on Polymarket said he had no political purpose. He claimed to be a Frenchman who had lived in the United States and worked as a trader in a bank. If Trump's victory came true, he could get a return of more than $80 million. If Harris wins, the user may lose all or most of his money.
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Farhan Shaik
@pizzasat
Avenir Crypto, the family office of Huobi founder Li Lin, disclosed that it has become the largest institutional holder of two major Bitcoin ETFs in Asia, and said it will invest $500 million to support excellent quantitative teams. In 2022, Li Lin sold the cryptocurrency exchange Huobi to Justin Sun for $1-1.5 billion.
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