The world of cryptocurrencies undergoes dynamic changes every day, bringing new challenges and opportunities. Recent events highlight how rapidly technology and regulation are evolving in this space. From SEC investigations into major exchanges to new economic proposals, such as the nomination of Vitalik Buterin for a Nobel Prize, each development underscores the significance of cryptocurrencies in the global economy. Additionally, the ambitions of companies like MicroStrategy and the threats posed by quantum computing demonstrate that the future of the crypto industry remains uncertain and full of potential. These events are shaping not only the market but also perceptions of the future of finance.
Review of the past week:
| October 8, 2024 |
However, Crypto․com reported, that they filed a lawsuit against the SEC, since the regulator unilaterally expanded its jurisdiction beyond the limits established by law. |
| October 9, 2024 | Economists want to nominate Vitalik Buterin as a candidate for the Nobel Prize in Economics.
According to them, Vitalik built an ingenious platform (Ethereum) and created a currency — with their help, he refuted the Mises regression theorem. Read more
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| October 9, 2024 | Gary Gensler stated that he does not consider Bitcoin or other cryptocurrencies likely as a widely used means of payment.
Gensler also called out fraud in crypto: “With all respect, the leading lights of this field in 2024 are either in jail or awaiting extradition right now.” |
| October 11, 2024 | Michael Saylor stated that MicroStrategy’s ultimate goal is to become a leading Bitcoin bank and turn into a $1 trillion company.
Rather than lending out funds like traditional banks, MicroStrategy seeks to borrow money at low rates, offer slightly higher rates to lenders, and invest those funds into bitcoin — with a “base case” estimated average annual return of 29%.Read more |
| October 14, 2024 | Chinese scientists have announced the successful hacking of encryption algorithms used in the banking sector and cryptocurrencies using a quantum computer.
The researchers said this is the first time that a quantum computer poses a real and significant threat to encryption, but numerous limitations still prevent full-scale hacking. |
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