Crypto
What is Barron Trump’s weird role in Donald Trump’s fishy cryptocurrency venture?
Former President Donald Trump’s son, Barron Trump, has been designated in an unusual position as the family enters the cryptocurrency market. Is it only to target the Gen-Zs?
The cryptocurrency project called World Liberty Financial is set to launch on September 16.
“We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump stated in a video post on X. “Join me live at 8 P.M.”
The launch of World Liberty Financial represents the family’s first significant foray into decentralized finance (DeFi), a sector of cryptocurrency focused on peer-to-peer financial services without traditional intermediaries like banks.
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Eric and Donald Jr are leading the project Barron by their side
The project is being led by Trump’s sons, Eric Trump and Donald Trump Jr., but in a surprising move, 18-year-old Barron Trump has been named “chief DeFi visionary.” But isn’t it weird that Barron, not because of his age but because the young Trump has no prior experience in the world of finance or cryptocurrency?
Several investigative reports suggest that the true driving force behind the venture may not be the Trump family at all but rather a controversial figure in the crypto world named Chase Herro.
Herro, who once referred to himself as “the dirtbag of the internet,” has a questionable track record. He has promoted dubious products such as weight-loss “colon cleanses” and get-rich-quick schemes. His connection to the Trump family’s cryptocurrency venture has led to concerns about the project’s legitimacy and long-term intentions.
ALSO READ| Barron’s first day at NYU started by meeting once outspoken anti-Trump dean who signed letter against ex-prez: report
The project’s whitepaper, obtained by CoinDesk, provides further details on a “credit account system”. World Liberty Financial plans to operate on the Aave platform, built on the Ethereum blockchain, and aims to create a decentralized borrowing and lending system. It aims for dollar-pegged stablecoins, with the stated objective of ensuring that the “U.S. dollar dominance continues” in the digital world.
Earlier this year, Barron was linked to the DJT coin, a digital currency that collapsed amid criticism and scrutiny from the cryptocurrency community.
Crypto
Ethereum and Bitcoin Investors Add Future A.I Dating Cryptocurrency To Future Investment Portfolios, Here's Why | Bitcoinist.com
As the cryptocurrency market continues to evolve, a new contender is emerging that has caught the attention of Ethereum (ETH) and Bitcoin (BTC) investors—GoodEgg (GEGG), a revolutionary AI-driven dating platform that promises to integrate artificial intelligence with blockchain technology for a game-changing experience. Both ETH and BTC investors, known for seeking strategic, long-term opportunities, are diversifying their portfolios by adding GoodEgg (GEGG), a project set to reshape online dating.
GoodEgg (GEGG) — A Game-Changer in AI and Blockchain
The GoodEgg (GEGG) platform combines the power of artificial intelligence with the security of blockchain to create a next-level dating experience. By using advanced AI algorithms, GoodEgg (GEGG) matches users more efficiently while ensuring privacy through blockchain technology. With its innovative approach, this platform could revolutionize the online dating landscape, attracting investors from all sectors of the cryptocurrency market, including Bitcoin (BTC) and Ethereum (ETH) holders.
In just 24 hours, GoodEgg (GEGG) raised a staggering $250,000 during its presale, signaling immense investor interest. As a token with real-world utility and AI-powered features, GoodEgg (GEGG) is positioning itself as a leader in the growing sector of AI-crypto solutions.
Ethereum (ETH) and Bitcoin (BTC) Investors Eye GEGG’s Potential
Ethereum (ETH) and Bitcoin (BTC) investors, historically known for their smart investment strategies, have started adding GoodEgg (GEGG) to their portfolios. These investors see potential in the project due to its real-world applications and the increasing demand for AI-based solutions. The interest from such investors is significant, as they usually reserve their portfolios for projects they believe have long-term growth potential.
Despite the strong market performance of Bitcoin (BTC), with its price nearing $58,000 after a 3.5% increase in 24 hours, and Ethereum (ETH), which jumped 2.2%, recent market trends indicate a cautious approach by crypto whales. According to recent on-chain data, there has been a notable decrease in ETH and BTC whale activity. Large transactions of over $100,000 have declined, with Bitcoin seeing a 33.6% drop, and Ethereum experiencing a staggering 72.5% fall since mid-August. This indicates that whales are awaiting extreme market conditions before making large moves.
While the reduced whale activity may signal caution, it has not deterred ETH and BTC investors from exploring new projects like GoodEgg (GEGG). With both market giants—Ethereum and Bitcoin—showing signs of consolidation, investors are diversifying to include promising projects with growth potential. GoodEgg (GEGG), with its AI and blockchain integration, fits perfectly into this strategy.
Why Ethereum and Bitcoin Investors Are Moving Into GoodEgg (GEGG)
As Ethereum (ETH) and Bitcoin (BTC) continue to dominate the cryptocurrency market, investors are constantly on the lookout for innovative projects that offer high growth potential and real-world application. Here’s why GoodEgg (GEGG) is attracting their interest:
- AI-Driven Innovation: GoodEgg (GEGG) leverages cutting-edge AI technology to improve online dating experiences, creating a platform that enhances matchmaking while ensuring user privacy.
- Blockchain Security: By integrating blockchain into its platform, GoodEgg (GEGG) offers a secure environment for users, with transactions and interactions protected by decentralized technology.
- Market Readiness: With a successful presale raising $250K in just 24 hours, GoodEgg (GEGG) has demonstrated strong market demand and a clear path to success in the growing AI and cryptocurrency market.
- Real-World Utility: Unlike many speculative tokens, GoodEgg (GEGG) focuses on solving real-world problems—specifically, the challenges of modern online dating through AI. This gives it a significant advantage in terms of long-term viability.
- Investor Diversification: With Ethereum (ETH) and Bitcoin (BTC) whale transactions slowing down, smart investors are looking to diversify their portfolios by including high-potential projects like GoodEgg (GEGG).
Conclusion
As Bitcoin (BTC) and Ethereum (ETH) continue to dominate the cryptocurrency landscape, projects like GoodEgg (GEGG) are rising to the occasion, offering innovative solutions with real-world applications. The growing interest from ETH and BTC investors reflects the project’s potential for significant returns, positioning it as a top AI-cryptocurrency project to watch in 2024 and beyond.
With its unique combination of AI, blockchain security, and user-friendly applications, GoodEgg (GEGG) is fast becoming a top choice for investors looking to diversify into the AI-crypto space. As the market continues to evolve, GoodEgg (GEGG) could very well be the next big thing, drawing more attention from both seasoned and new investors alike.
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Crypto
Cryptocurrency Prices on September 13: Bitcoin holds steady near $58,000; Altcoins trade mixed
“Bitcoin has sustained at the $58,000 level, maintaining the bullish trajectory. The announcement by Trump on plans to launch his son’s crypto business and the bullish predictions by Standard Chartered Bank for BTC have further strengthened the market sentiment. BTC’s resistance level stands at $59,100, and the support level remains at $56,500,” said Edul Patel, CEO of Mudrex.
“Bitcoin has shown resilience, trading around $57,900 despite mixed US data,” said Shivam Thakral, CEO of BuyUcoin. “Expectations of a 0.25% interest rate cut by the Federal Reserve on September 18 are bolstering positive sentiment around Bitcoin.”
Vikram Subburaj, CEO of Giottus, pointed out, “Bitcoin is consolidating around $58,000, with markets hopeful of a 25 bps interest rate cut in the US next week. The net outflow of $750 million worth of Bitcoin from exchanges on Wednesday suggests a potential supply crunch that could lead to a short-term price rally. A decisive break above $60,000 is needed to continue the momentum.”
In today’s trade, XRP (Ripple) surged by 5%. The CoinSwitch Markets Desk noted, “Grayscale has launched an XRP Trust, marking a significant development. This strengthens the case for a Ripple-based ETF in the future and signals growing institutional interest in XRP.”
In the last 24 hours, Bitcoin’s market cap dropped to $1.145 trillion. Bitcoin’s dominance now stands at 56.22%. BTC volume in the same period fell 18.3% to $30.13 billion. Meanwhile, stablecoins accounted for $54.15 billion of this volume, or 91.68%, according to CoinMarketCap.
Avinash Shekhar, Co-Founder & CEO of Pi42, added, “Bitcoin’s price has made a notable recovery, climbing above $58,000 following a brief bearish trend after the release of US CPI data. Investor optimism is building as anticipation grows for next week’s FOMC meeting, where a 25 basis point interest rate cut is expected, which could provide further support to the crypto market.”
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Crypto
Essential Cryptocurrency Trends to Keep an Eye On
The cryptocurrency landscape is in constant flux, with new trends emerging as technology and market dynamics evolve. For investors and enthusiasts alike, keeping a finger on the pulse of these trends is crucial for making informed decisions and staying ahead in this volatile market. Here, we explore some of the most essential cryptocurrency trends to watch closely, providing insights into what the future might hold for digital currencies.
The Rise of Central Bank Digital Currencies (CBDCs)
One of the most significant trends in the cryptocurrency space is the development and implementation of Central Bank Digital Currencies (CBDCs). Governments worldwide are exploring CBDCs as a means to digitize their fiat currencies, offering a state-backed alternative to decentralized cryptocurrencies like Bitcoin. As of 2023, over 130 countries are actively researching or developing CBDCs, with China leading the way through its Digital Yuan initiative.
According to the Atlantic Council, 114 countries, representing over 95% of global GDP, are exploring a CBDC. Among them, 11 countries have already launched their digital currencies, with others like the European Union and the United States in advanced stages of research. The adoption of CBDCs could reshape the global financial system, offering more efficient payment systems while posing competition to established cryptocurrencies.
Adoption of Layer 2 Solutions
Scalability remains a significant challenge for many blockchain networks, especially those like Bitcoin and Ethereum, which often struggle under high transaction volumes. Enter Layer 2 solutions—these nifty technologies operate on top of existing blockchains, boosting transaction speed and slashing fees. They’re becoming a go-to trend for tackling the scalability dilemma. And while we’re talking about speed, it’s worth mentioning Solana, a blockchain that’s making waves for its lightning-fast transactions. Alongside this, the best Solana meme coins, like Sponge V2 and SpacePay, are gaining popularity as the network continues to grow, showing just how diverse the crypto space is becoming.
The Lightning Network, a Layer 2 solution for Bitcoin, has seen increased adoption, with its capacity surpassing 5,000 BTC in 2023, according to BitcoinVisuals. Similarly, Ethereum’s Layer 2 solutions, such as Optimism and Arbitrum, have gained traction, with billions of dollars in total value locked across these networks. As the demand for faster and cheaper transactions grows, Layer 2 solutions are likely to play a crucial role in the future of blockchain technology.
The Growth of Decentralized Finance (DeFi)
Decentralized Finance, or DeFi, continues to be a major force driving innovation in the cryptocurrency sector. DeFi platforms offer financial services like lending, borrowing, and trading without the need for traditional intermediaries like banks. This trend has gained significant traction, with the total value locked (TVL) in DeFi protocols reaching over $80 billion in 2023, according to DeFi Pulse.
DeFi’s appeal lies in its ability to democratize access to financial services, particularly in regions with limited banking infrastructure. However, the sector faces challenges, including regulatory scrutiny and the risk of smart contract vulnerabilities. Despite these hurdles, DeFi is expected to grow as more users and developers embrace decentralized financial solutions, making it a trend worth monitoring closely.
Increased Regulatory Scrutiny
As the cryptocurrency market matures, it has attracted increased attention from regulators worldwide. Governments are becoming more proactive in drafting and enforcing regulations to address issues like fraud, money laundering, and investor protection. In 2023, the global cryptocurrency market saw several high-profile regulatory actions, including the U.S. Securities and Exchange Commission (SEC) suing major exchanges for allegedly offering unregistered securities.
The impact of regulation on the cryptocurrency market cannot be understated. According to a report by Chainalysis, the value of illicit transactions involving cryptocurrencies dropped by 57% from 2022 to 2023, largely due to stricter enforcement of regulations. While some investors fear that regulation could stifle innovation, others believe it will bring legitimacy to the market, attracting more institutional investors and fostering long-term growth.
The Growing Importance of Environmental Sustainability
Environmental concerns have increasingly become a focal point in the cryptocurrency debate, particularly around the energy-intensive nature of Proof of Work (PoW) mining, used by Bitcoin and other cryptocurrencies. The high energy consumption associated with Bitcoin mining has led to criticisms and calls for more sustainable alternatives.
In response, the industry has seen a shift towards greener practices. For instance, Ethereum’s transition to Proof of Stake (PoS) in 2022, known as “The Merge,” reduced its energy consumption by approximately 99.95%. Moreover, new projects are emerging with a focus on sustainability, such as Chia Network, which uses a Proof of Space and Time consensus mechanism that is less energy-intensive. As environmental issues continue to gain importance globally, sustainable practices within the cryptocurrency industry will likely become a critical trend.
The Expanding Role of NFTs in the Digital Economy
Non-Fungible Tokens (NFTs) have expanded beyond the realm of digital art and collectibles, finding applications in gaming, real estate, and intellectual property rights. In 2023, the global NFT market was valued at over $20 billion, with major brands and celebrities continuing to explore this space.
One of the most notable developments in the NFT space is its integration with the metaverse, where virtual assets and experiences are bought, sold, and traded as NFTs. Platforms like Decentraland and The Sandbox have seen significant user engagement, with virtual land sales generating millions of dollars. As the metaverse and digital economy grow, NFTs are expected to play an increasingly central role, making this a trend that cannot be ignored.
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