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Tether Invests $775 Million in Rumble Following YouTube Rival's Bitcoin Push
Stablecoin issuer Tether has committed $775 million to rising streaming video platform Rumble, which has adopted a Bitcoin reserve strategy.
Stablecoin issuer Tether announced on Friday that it is investing $775 million in streaming video platform Rumble, a rival to YouTube that bills itself as an anti-censorship platform.
The company behind the USDT stablecoin called the deal a “definitive agreement,” and it would begin with a primary investment of $250 million in cash.
The deal, Tether said, will see the cryptocurrency company ultimately receive 103.3 million shares of Rumble common stock. Rumble CEO Chris Pavolski will retain a controlling stake in the streaming platform. At $7.50 per share of common stock, Tether’s $775 million investment in Rumble is expected to close in early 2025.
Following the announcement, Rumble’s RUM stock rose 40.75% in after-hours trading and is currently priced at $10.57, according to MarketWatch.
Launched in 2013 by technology entrepreneur Chris Pavlovksi, Rumble is a video streaming platform focused on free speech. It has become a popular alternative to YouTube for conservative and far-right content creators. Read More
Saylor floats US crypto framework with $81T Bitcoin reserve plan
Bitcoin bull Michael Saylor has pitched a US crypto framework, saying a strategic digital asset policy can strengthen the dollar and neutralize the country's national debt.
MicroStrategy founder Michael Saylor has proposed a Digital Assets Framework for the United States that includes establishing a Bitcoin reserve he claims could create as much as $81 trillion for the country’s Treasury.
“A strategic digital asset policy can strengthen the US dollar, neutralize the national debt, and position America as the global leader in the 21st-century digital economy,” Saylor said in a Dec. 21 X post.
Saylor’s crypto framework proposes establishing a strategic Bitcoin reserve “capable of creating $16 to $81 trillion in wealth for the US Treasury, providing a pathway to offset national debt.”
Under Saylor, MicroStrategy has amassed over 439,000 BTC, currently worth well over $41 billion, which has sent the company’s stock price soaring this year alongside the cryptocurrency. He pitched Microsoft on buying Bitcoin, an idea that its shareholders killed.
Saylor’s proposal defines six distinct categories: digital commodities such as Bitcoin, digital securities, digital currencies, digital tokens, non-fungible tokens (NFTs) and asset-backed tokens.
The framework aims to establish clear roles for issuers, exchanges and owners, defining specific rights and responsibilities for each participant type while emphasizing that no participant can “lie, cheat, or steal.” Read More
Quantum computing will fortify Bitcoin signatures: Adam Back
The post-quantum era is still “several decades away,” but it could be a net positive for the Bitcoin network’s security.
Advancements in quantum computing have the potential to strengthen the Bitcoin network in the coming decades, even though there are widespread concerns about the technology’s ability to compromise cryptographic encryption.
Industry insiders have previously voiced concerns that quantum computing may break cryptographic algorithms in the future, thanks to its ability to perform computational processes at previously unimagined speed, thanks to advancements in quantum physics.
Yet despite these concerns, quantum computing could lead to a stronger Bitcoin network, according to Adam Back, co-founder and CEO of Blockstream, the inventor of Hashcash and one of the most notable cryptographers in the industry.
Post-quantum (PQ) is “still several decades out at least,” which is why a hash-based PQ scheme will never be viable, wrote back in a Dec. 21 X post:
“PQ signature research will eventually produce conservative well-reviewed, more compact signatures, and Bitcoin can add those schemes as another option.” Read More
Got rich off Bitcoin? Unchained explains how multisig wallets protect investors’ BTC
Everyone’s heard “Not your keys, not your coins.” Unchained head of research Joe Burnett explains how investors can protect their Bitcoin.
While crypto hard wallets are a much better option than keeping Bitcoin on exchanges or in software wallets, there is still the risk of the assets being compromised if a person is able to take possession of the seed address.
Burnett suggests a multisignature setup as a way of eliminating this single point of failure since multiple signatures would be required to generate a transaction.
“You've heard about hardware wallets, software wallets. You can buy your ledger, your ColdCard, your Trezor, which are individual hardware wallets. But still, at the end of the day, when you buy one of those devices, and you set up a default single signature address, your Bitcoin is controlled or protected by one key that's stored on that one device. And you may write down your seed phrase that is effectively your key to your Bitcoin. Then that key becomes a single point of failure.”
Burnett explained that with collaborative custody options similar to Unchained, Bitcoin holders create a three-key multisignature vault where the investor retains two keys and Unchained holds one as a backup.
“Unchained holds one key as a backup if you have both of your keys and one of your keys gets lost, damaged, or stolen, then you actually don't lose your Bitcoin because Unchained has another key as a backup. And so it kind of is the best of both worlds when it comes to having some trusted institution there with you to help you make sure you don't lose your Bitcoin and then also maintaining complete sovereign control over your Bitcoin.”
In this setup, where two keys are required to move your Bitcoin, Unchained only holds one of the three keys, Burnett said, which ultimately renders Unchained unable to move clients’ Bitcoin. Read More
Important Updates About The ILP and Entrepreneur One Upgrade
We are on the verge of the greatest economic renaissance globally, undoubtedly the most extraordinary in the history of the United States, and even overshadow the impact of the Industrial Revolution. At the forefront of this revolution is cryptocurrency, which holds the power to empower millions of individuals and integrate them into a secure, decentralized global economy. Cryptocurrency introduces extra protection for people and presents an opportunity to evade issues such as inflation, political uncertainty, and economic marginalization.
It is a “rebuilding” of the entire global economy, and Markethive is at the threshold of this economic resurgence, ready to launch after years of preparation, iterations, and Divine guidance. Cryptocurrency has paved the way for revolutionary platforms to counter many real-world problems across various sectors, with Markethive pioneering social, marketing, and digital broadcasting.
We are launching into what many are calling the greatest crypto revolution ever. This revolution marks the increasing realization of the actual economic and social potential of decentralized platforms, heralding autonomy, financial sovereignty, and wealth distribution in a dynamic crypto-enabled ecosystem. As more people recognize these potentials, the crypto market will experience unprecedented growth and innovation, creating a renaissance within Markethive. Read More
What are ETF fund flows, and why do they matter?
ETF flows represent the money going into and out of ETF shares at varying periods of time.
ETF flows refer to the net inflows and outflows of an ETF. Flows are not necessarily representative of how an ETF is performing — they’re instead indicators of investor sentiment. When examining flows, think of them as investors “voting” with their wallets who buy and sell ETF shares for reasons they find important.
If you’re wondering why ETF fund flows matter, consider this example: If an ETF experiences a few million dollars in outflows, it may seem alarming. However, it’s essential to look at the bigger picture: A few million might be insignificant for an ETF managing billions of dollars.
That said, while flows don’t directly correlate with an ETF’s performance, they can provide valuable insights into investor behavior and market trends.
There are two types of flows: ETF inflows and outflows.
An inflow is when an investor buys ETF shares. When an ETF is experiencing significant inflows, you can assume a bullish sentiment toward the ETF.
An outflow is when an investor sells their ETF shares. When an ETF shows significant outflows, you can assume investors are not confident, suggesting a bearish sentiment.
For example, if Bitcoin’s price is underperforming, one might notice substantial outflows from Bitcoin-focused ETFs like the VanEck Bitcoin Trust, signaling a bearish sentiment.
It’s important to note that flows do not track an ETF’s price. The importance of ETF fund flows is that they track the buying and selling of an ETF’s shares. Read More
Bitwise files for ETF tracking firms with big Bitcoin treasuries
Bitwise has filed for an ETF that would invest in large market cap public companies with at least 1,000 Bitcoin on their balance sheets.
Bitwise, an exchange-traded fund (ETF) issuer, submitted a proposal to introduce a new fund designed to invest in publicly traded companies with substantial Bitcoin holdings.
The Bitwise Bitcoin Standard Corporations ETF would invest in companies “that have adopted the ‘Bitcoin standard’” and hold at least 1,000 Bitcoin in their corporate treasuries, according to a Dec. 26 regulatory filing.
The Bitcoin-holding firms would be required to have a market capitalization of at least $100 million, a minimum average daily liquidity of at least $1 million and a public free float of under 10% to be included in the ETF.
Unlike other ETFs, which typically give weight to stock holdings based on company market caps, Bitwise’s fund would assign weight to its holdings based on the market value of the firm’s Bitcoin treasuries, capped at a maximum weight of 25%.
It would mean, for example, that Tesla, with its $1.42 trillion market cap, would have less weighting in Bitwise’s ETF than MicroStrategy, with its $83.5 billion market cap, because Telsa owns 9,720 BTC to MicroStrategy’s 444,262 BTC. Read More
What is a bull trap, explained
A bull trap is a misleading indicator that leads to a market uptrend. They are common in crypto. Educating yourself is an important part of avoiding bull traps.
A bull trap is the opposite of a bear trap. While a bear trap misleads investors into thinking the market is declining only for it to reverse upward, a bull trap tricks traders into believing the market is rising when, in reality, it’s poised for a downturn. Both are psychological pitfalls that prey on investor emotions like fear and greed, often resulting in losses for those who act hastily.
For example, if a random person on Twitter says, “Bitcoin is approved as legal tender in my home country,” you and many others might see this and invest in Bitcoin, causing its price to rise. This price increase could lead to others getting involved, giving the impression of a bull market.
If it comes out that this news is false, investors may pull money out of Bitcoin, causing a crash. If you don’t pull out in time, you’ll lose money. This is a bull trap — a fake bull market, if you will — one of the most common trading pitfalls. Read More
Coffee goes onchain as Agridex settles first-ever transaction on Solana
Real-world asset tokenization could become a multitrillion-dollar industry by 2030, according to Boston Consulting Group.
Solana-based real-world asset (RWA) platform Agridex has facilitated its first onchain coffee trade, a move it said could open the door to more cost-effective agricultural commodity transactions.
The transaction was executed by Tiki Tonga Coffee, a United Kingdom-based coffee brand, which exported premium coffee from its home country to South Africa. The payment was made in South African rands and settled in British pounds using the Agridex blockchain.
Tiki Tonga claims the transaction only carried a 0.5% transaction fee, which is a fraction of the 5%–7% fee on typical cross-border transactions involving agricultural commodities. The settlement was also instant versus the typical five-to-12-day turnaround times using traditional systems.
“Not only have we saved significantly on transaction fees, but the cognitive burden of managing documentation and compliance has been lifted,” said Tiki Tonga founder Brad Barritt.
In addition to coffee, the Agridex platform provides instant settlements on various agricultural commodities, including livestock, wine and olive oil. The company said it has $4.5 billion in pending transactions from agricultural partners. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
