Ripple CTO David Schwartz’s Father’s Multi-Million Dollar Bet on XRP
David Schwartz, Ripple’s Chief Technology Officer (CTO) and the often-considered “brainchild” behind the company said his father took a moonshot gamble on XRP. In April 2014, the senior Schwartz purchased an eye-popping one million XRP from Justcoin when the asset was priced at an almost inconceivable half a penny.
Fast forward to January 2018, XRP skyrocketed to a staggering high of $3.65, catapulting its market cap to a celestial $140 billion. If the elder Schwartz held onto his investment, it would have ballooned to a mind-blowing $3.65 million, a staggering 730,000% increase!
While Chris Larsen, co-founder of Ripple, saw his holdings—an unbelievable 9 billion XRP tokens—balloon to an astronomical value of $60 billion, David Schwartz took a markedly different approach.
The Road Not Taken by Ripple’s Stalwart
Forbes reports that David Schwartz, despite his monumental contributions to Ripple and even being its second-ever employee, decided not to be lured by the siren song of XRP’s potential capital gains. Instead, he opted for a stable salary and a modest 2% stake in the company he helped to build. This decision highlights Schwartz’s unique financial philosophy, as he’s often seen as the ideological backbone of Ripple, advocating for decentralization and blockchain adoption.
Schwartz’s Crypto Portfolio
Interestingly, Schwartz’s crypto preferences show a mix of caution and opportunism. In a 2021 tweet, he unveiled that he sold portions of his Bitcoin holdings at varying prices—from a mere $100 up to an eye-watering $50,000. When Bitcoin peaked at $63,000, Schwartz revealed that he retained only about 2% of his original holdings.
This diversified approach extends to his overall crypto portfolio as well. Besides XRP, Schwartz holds other cryptocurrencies like BTC, ETH, and BAT. He disclosed that these holdings are “not necessarily by choice,” as they have resulted from airdrops and other market events over the years.
Whether David Schwartz’s balanced approach will outshine his father’s moonshot bet in the long term remains to be seen. One thing is certain: both are a testament to the transformative, unpredictable, and high-stakes world of cryptocurrencies.
Is Ripple Repurchasing 10B XRP? David Schwartz Uncovers The Truth
A recent rumor circulated about Ripple, the prominent blockchain technology company, considering a massive repurchase of 10 billion XRP tokens. However, Ripple’s Chief Technology Officer (CTO), David Schwartz, has stepped forward to address these rumors and provide clarity on the situation.
Ripple’s CTO David Schwartz Clarifies, No Plans for XRP Buyback
In a recent tweet, David Schwartz categorically stated that Ripple has no plans to repurchase 10 billion XRP tokens. He unequivocally denied the rumors that have been circulating in the cryptocurrency community.
According to the CTO, the reports suggesting a potential buyback were based on misinformation and misunderstandings. Mr. Schwartz emphasized that Ripple remains committed to transparency and open communication with its stakeholders. He even mentions that it is crucial for accurate information to circulate within the cryptocurrency ecosystem, as unfounded rumors can create unnecessary confusion and speculation.
Adding to the discussion, John Deaton, a lawyer known for his support of XRP, expressed his skepticism about the repurchase report. In his tweet, he mentioned that he would await an official confirmation from the Ripple community before drawing any conclusions about the potential buyback.
XRP Community Highlights Red Flags in Report of Ripple’s Token Repurchase
Members of the community delved deeper into the source, pointing out several red flags that raised suspicions. It was revealed that the website behind the report was registered in 2023 and utilized stock photos for its supposed team members. Additionally, the website had only published a meager number of articles, and its Twitter account was created just last month.
Further discrediting the report, Panok, the founder of DigitalGen Financial Services, labeled it as false and originating from a scam email. Panok emphasized that Ripple has no incentive to purchase 10 billion XRP tokens or any XRP for holding purposes, as their strategic goal is to gradually reduce the token supply over time.
The motive behind disseminating this fake news remains unclear. However, this incident underscores the paramount importance of verifying information through official sources within the crypto space. Investors and enthusiasts should exercise caution and rely on trusted channels to ensure accurate and reliable information.
David Gokhshtein Predicts XRP Price Surge if Ripple Prevails in SEC Case
One of the most well-known cryptocurrencies, XRP, has recently made news of its spectacular growth following the end of the “crypto winter.” Since March 21st, the token’s value has increased by about 49%, and it continues to rise. Many people now anticipate that even bigger gains may be forthcoming as XRP broke over a major barrier mark below $0.5.
Recent tweets by cryptocurrency entrepreneur David Gokhshtein, who thinks that a favorable settlement for Ripple could lead to large gains for the token, have only heightened the frenzy surrounding XRP.
XRP Price
XRP has been on the rise in recent days, adding 6% to its initial price at the time of writing and displaying an increase of 14% at one point as well. The token price also surpassed a key barrier level at about $0.51 per XRP, trading at its highest level since early May.
Ripple v. SEC
Observers in the cryptocurrency space and beyond have taken notice of XRP and the SEC’s action against Ripple. With recent changes in cryptocurrency regulation, Ripple’s ability to deftly deflect its rival’s charges may have surprised people who were previously indifferent.
Many experts, including cryptocurrency attorney and XRP supporter John Deaton and crypto analyst Alex Kruger, believe that a favorable settlement for Ripple could result in significant gains for XRP. Gokhshtein himself wonders how much further the XRP chart could climb if Ripple wins the SEC case against the cryptocurrency exchange.
What holds for XRP?
Investors are eagerly watching the XRP price chart and wondering how much higher it could climb in the event of a Ripple victory. As the cryptocurrency market continues to evolve, it is clear that XRP will remain a token to watch. The community is already optimistic about the coin performance and many shared their excitement on Twitter.
Only time will tell how this legal battle will play out, but one thing is certain – the world of cryptocurrency will never be the same.
With so much at stake, the outcome of the Ripple v. SEC legal battle is sure to have a significant impact on the cryptocurrency market. As XRP continues its upward trajectory, investors will be keeping a close eye on the latest developments in this ongoing saga.
Ripple, The Movie: From Scrappy Startup To LegalBattlefront – By David Schwartz and ChatGPT
Ripple has been in the headlines for about 2 years now due to the lawsuit with the SEC. The SEC vs. Ripple is an open court case that could decide the future of cryptocurrency regulations and determine if it is a security or a commodity.
In 2020, the U.S. Securities and Exchange Commission (SEC) alleged that Ripple, the blockchain developer and creator of the XRP cryptocurrency token, raised more than $1 billion in 2013 through the sale of XRP in an unregistered security offering to investors. Ripple, relying on the previous comments of an SEC director to support its case, argues that XRP should not be treated as a security.
This litigation is of relevance since it set a legal precedent that results in similar cryptos being categorized as securities as well. Hence, the case against Ripple is crucial for all stakeholders inside the crypto industry, including investors, blockchain innovators, and policymakers globally.
David Schwartz takes a dig at Chat GPT
David Schwartz, the CTO of Ripple in a recent tweet, replied to a question that was asked by a user Christopher Cassidy about the photo on top of their Twitter page. To which Schwartz replied that he asked ChatGPT to write a one-sentence description of the central conflict (called a ‘logline’) in Ripple, The Movie and that’s what it said.
The plot of “Ripple, The Movie,” as the blockchain creator has dubbed it, sounds like this: “When a scrappy financial startup takes on a web of corruption and betrayal to bring instant payments to the masses, they learn that the cost of disrupting the status quo is higher than they could ever have imagined, forcing them to decide between their vision and their survival.”
What is not evident from the logline is that ChatGPT refers to Ripple as a scruffy start-up. The company is performing well and rarely qualifies as such based on the most recent news and reports, it may be argued. So it’s likely that the artificial intelligence chose to present the story in this way to create drama and portray Ripple as a sort of David taking on the corrupted regulatory Goliath.
Ripple’s David Schwartz Raises Red Flag, Hints At Possible Shutdown In The US
Ripple’s CTO, David Schwartz, recently made a statement suggesting that Ripple is contemplating shutting down its operations in the United States due to the ongoing legal battle with the SEC. This has caused concern in the crypto community, with some speculating about the implications of such a move.
The SEC filed a lawsuit against Ripple in December 2020, alleging that XRP, the cryptocurrency at the center of Ripple’s payment network, is unregistered security. Ripple has denied these allegations, and the legal battle has been ongoing ever since.
David Schwartz’s Comments
In a recent Twitter thread, David Schwartz, Ripple’s CTO, commented on the lawsuit and the potential implications for Ripple and the crypto industry. He stated that “we can’t succeed if the industry doesn’t succeed,” and that “a world where, say, Twitter is the only successful Internet company is unimaginable.”
However, he also expressed concern about the possibility of having to “walk through a door and slam it shut behind us.” While he hoped that Ripple wouldn’t have to make such a choice, he couldn’t promise that they wouldn’t.
The Community Reacts
Yassin Mobarak, the founder of Dizer Capital, expressed concern about Schwartz’s comments, asking whether Ripple would shut out retail XRP holders or the rest of the crypto space if they went through the door. Schwartz responded that he hoped they wouldn’t have to make such a choice and that Congress could change the laws.
Famous crypto lawyer and XRP advocate John Deaton also weighed in, stating that Ripple must do what’s best for Ripple and its shareholders, not necessarily what’s best for XRP holders or other businesses developing on the XRP Ledger.
Implications for Ripple and XRP
If Ripple were to shut down its operations in the US, it would likely have significant implications for both Ripple and XRP. However, it’s important to note that this is not a decision that Ripple has made at this time.
At press time, XRP was trading at $0.39, with modest gains of 2.3% on the day but still down 7.8% on its monthly chart. The legal battle between Ripple and the SEC is ongoing, and it remains to be seen what the ultimate outcome will be. However, Deaton has said that he has no doubt that Ripple will win against the SEC.
David Gokhstein Reveals Plans To Re-Enter The Crypto Meme Market
Meme currencies have been around for a while, but they have often come under fire for being volatile, unstable, and unreliable. The most recent is by Solodity.io CEO McCurry, who has dubbed Dogecoin and other dog-inspired coins garbage, and Steven Cooper, who claims it is a cheap token used to entice people to invest in dubious spinoffs.
Additionally, it appears that these currencies are highly sensitive to the personal opinions of individuals like Elon Musk. Nevertheless, some people continue to think that these coins have potential.
Let’s explore.
David Gokhstein considering investing in meme-coins
David Gokhshtein, a crypto enthusiast and the founder of Gokhshtein Media, which reports on the industry’s news and events, announced on Twitter that he is seriously considering purchasing meme coins once more. He also congratulated BabyDoge, a well-known meme coin, on reaching a significant milestone.
David declared in a tweet that he is “so close to jumping into meme coins again.” It should be mentioned that the crypto enthusiast already has a sizable amount of the two biggest meme tokens in terms of market cap, Shiba Inu (SHIB), and Dogecoin (DOGE).
Gokhshtein has supported SHIB particularly recently and for the entirety of last year. He predicts that Shiba Inu’s value would soar during the upcoming crypto market bull run.
Gokhstein Has Earlier Urged SHIB to hit a penny
This is a contrast to what he had said earlier, in the comment thread of another of his recent tweets. He stated that the bulk of his followers would not make good use of $10,000 in cryptocurrency and someone jokingly rebuked David for having his liquidity stuck in meme coins.
Moreover, he “urged” the popular meme coin earlier this year to spike to the $0.01 level so as to “do him a favor” and let him dump it.
To conclude,
In the cryptocurrency community, there seems to be a broad spectrum of viewpoints on meme-coins. While some are certain that it has potential, others believe it to be absolutely useless.
Craig Wright and David Schwartz Have a Public Altercation Over XRP
Craig Wright, the purported creator of Bitcoin, and David “JoelKatz” Schwartz, the CTO of Ripple, engaged in a furious altercation on Twitter. Wright’s tweet claiming XRP to be a fraud set off the argument.
What Happened
On the other hand, David Schwartz responded to the ridiculous assertion in his usual snarky manner. Craig Wright said in a post on Twitter that if someone ever mentions the CTO of Ripple, they should refer to him by his real name, which is “conman Davie.” He called Schwartz the Madoff of shitcoins.
“Dave is a conman. XRP is a complete scam,” says Wright confidently. Schwartz replied, “It’s funny how you feel the need to attack me when, and only when, you are being criticized for your own indefensible actions.”
In a related development, Craig Wright may sue Bitcoin developers in court to force them to hand up cryptocurrency and change the code. Wright has filed a lawsuit against 15 developers in an effort to recover 111,000 bitcoins with a value of $2.5 billion.
Wright apparently lost the keys to his cryptocurrency wallets many years ago after becoming the victim of a cyberattack. Even though this lawsuit was first rejected last year, the U.K. Court of Appeal declared today that developers might have responsibilities to blockchain owners.
If Wright is successful in his lawsuit, the software developers might be compelled to produce new software that will assist Tulip Trading in recouping the entire amount of money it owes.
As for XRP, the token now has a value of $0.42 and is representing an on-chain signal that is mostly neutral. Getting back to it, this is not the first time Schwartz and Wright publicly argued about XRP. Wright has made it a habit to aggressively criticize XRP, the products created from it, and its creators. And Schwartz always claps back at him.
David Schwartz’s Unique Insight On XRP Supply and Token Distribution
David Schwartz, the chief technology officer of Ripple and one of the architects of the XRP Ledger, offered some novel perspectives on the XRP supply. The blockchain figure’s comments were sparked by a discussion about cryptocurrency inflation and a recent airdrop of the FLR token from Flare Network.
Let’s see what he has to say about this.
Schwartz Regrets Not Distributing more XRP when prices were low
Schwartz expressed dismay that Ripple did not give more tokens when the price of XRP was low. He believes that things have become significantly more challenging as a result of the massive rush of tokens that have entered the market now that the price of XRP is at $0.4.
Another issue is that Americans receiving the tokens would be subject to regular income tax, which would require them to sell about 50% of the tokens when they receive them. According to Schwartz, this is one of the reasons why all tokens should be released into the market while the price is at its lowest.
Ripple CTO David Schwartz not pleased with the Flare governance
Flare is a blockchain platform that allows developers to create applications that utilise data from other chains and the internet. On January 9, the team completed the FLR airdrop Token Distribution Event, during which approximately 4.279 billion Flare (FLR) tokens were issued to millions of qualified XRP holders with the assistance of multiple crypto exchanges.
The Flare governance proposal (FIP01), if approved, would include a number of changes that would affect the distribution and inflation of the native token of the Flare blockchain.
Ripple CTO David Schwartz doesn’t seem to be too thrilled with this plan. Two reasons are given by him. The first is that it only provides XRP holders with 15% of what they were promised. Second, a significant amount of monetary expansion that doesn’t seem to benefit anyone is built in.
With respect to the airdrop when a user asked whether the XRP community would get the remaining airdrop balance automatically or if they must wrap the FLR, Schwartz replied to this with a tweet of his own stating that there is no remaining balance.
Will The Crypto Markets Recover In 2023? Here’s What David Marcus Predicts
A former executive at Meta and PayPal, and current CEO and creator of Bitcoin company Lightspark, David Marcus, has made some forecasts regarding the cryptocurrency market.
The Bitcoin enthusiast wrote in his blog on December 30 that the market won’t be able to recover from the mistreatment of unethical entities like FTX and Terra until at least 2024.
In his words:
“We won’t exit this ‘crypto winter’ in 2023, and probably not in 2024 either. It’ll take a couple of years for the market to recover from the abuse of unscrupulous players, and for responsible regulation to come through.”
In 2023, Marcus asserts, the development will boom. A lot of trust and stability was lost in 2022, but with devastation comes the chance to start again, and he believes that we will use technological breakthroughs to address humanity’s most pressing issues as we go forward.
The former Meta executive predicts that interest rates will rise during the first part of the year and that homeowners will have to adjust to mortgage rates not seen in two decades.
In addition, he said that the Lightning Network will begin to show promise as the most efficient open, interoperable, inexpensive, and real-time payments protocol next year.
After years of avarice in the crypto industry, we may finally see some useful uses emerge. Manufacturing a ton of money by making a token out of nothing is a thing of the past.
According to Marcus, the industry is back to its usual schedule of having to generate real value and solve real-world issues. He predicts significant progress in areas like payments, asset securitization, DeFi, zero-knowledge applications like proof of reserves and layer 1 scaling solutions, and a resurgence of development zeal and enthusiasm on the Bitcoin network.
Marcus is not the only industry expert who believes that the crypto winter will not end any time in the near future. There are a number of analysts who share this view, so it’s probably better to go into the new year without high expectations for the market, continue hoping for the best and never stop researching and keeping up with the latest news of the industry.
Brazilian Footballer David Luiz Is Now The Brand Ambassador For BC.GAME
BC.GAME has announced that David Luiz, a Brazilian professional football player of the Flamengo team, has become its official brand ambassador. As the crypto casino’s brand ambassador, Luiz will consistently collaborate with BC.GAME to help promote the casino platform and engage with its community through social media and live-streaming platforms.
David Luiz as a Brand Ambassador for BC.GAME
David Luiz’s association with BC.GAME will not only help the crypto casino gain more exposure. As a BC.GAME ambassador and one of Brazil’s most prominent football players, he can connect the Brazilian football community with the crypto casino platform and grow the brand’s player base in Brazil.
David will primarily engage and connect with the crypto casino community through social media activities. He will also be connecting with many players and fans through Twitch, an interactive streaming platform made for gaming and entertainment.
David shared, “I’m very very happy to be partnering with BC.GAME and very excited for the collaboration coming soon.”
BC.GAME’s Opportunity For Growth
Brazil has seen a rise in the number of players participating in online casinos, with many opting to play at crypto casinos for their excellent accessibility and offered security. BC.GAME has also recently included sports betting in its gaming portfolio, which also happens to be one of the most popular forms of gambling games in Brazil.
The partnership is an excellent opportunity for BC.GAME to penetrate the Brazilian market and reach more audiences as it expands. With BC.GAME’s entry into the Brazilian casino and sports betting scene, Brazilian football fans and sports betting enthusiasts will have more opportunities to participate in virtual sports and casino events. This includes welcoming grander sports betting opportunities for highly-anticipated sports events like the 2022 FIFA World Cup.
Coco, the emblem of BC.GAME, said, “Brazil has dominated 2022 in regards to tech innovation and regulatory framework for cryptocurrencies and iGaming. BC.GAME has proudly contributed to this since the doors first opened. We are very pleased to be moving into 2023 with this announcement of our partnership with David Luiz. Our combined efforts will help to maintain this trend, with Brazil at the focal point for tech advancements and crypto mass adoption. The world is watching.”
About David Luiz
David Luiz Marinho, also known professionally as David Luiz, is a professional football player from Diadema, Brazil. He is part of the Flamengo Rowing Club, a Brazilian sports club headquartered in Rio de Janeiro. Although Luiz mainly plays as a center-back, he’s also known for taking on other roles, such as a defensive midfielder or full-back.
In the 2009 – 2010 season, David was named the LPFP Primeira Liga Player of the Year. He was hailed as the FIFA Club World Cup Silver Ball winner in 2012. He has also earned two FA cups (2011 – 2012 and 2017 – 2018) and holds one FIFA Confederations cup title.
About BC.GAME
BC.GAME is a licensed online crypto casino platform that offers a wide variety of casino games, live casinos, and sports betting events. Besides integrating cryptocurrency and blockchain technology in its platforms, the crypto casino is also one of the first casinos to support lightning networks, Binance Smart Chain, Arbitrum, and other Layer 2 solutions, further revolutionizing the casino industry and the world of blockchain.
This year, BC.GAME has received the “Crypto Casino Of The Year” title from the 2022 Sigma Awards. It also formed partnerships with the Argentine Football Association (AFA) and Cloud9.
| Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. |
David Gokhshtein Says that Ripple Vs SEC Lawsuit Decision is Just 2-Months Away!
David Gokhshtein, the founder of Gokhshtein Media, tweeted yesterday that the legal decision in the Ripple vs SEC case may be announced in two months, or at the start of 2023. It’s been about 24 months since the case began; another 3-4 months won’t hurt, right? Earlier this year, he stated that if Ripple wins, it will help the crypto giant and the XRP coin, as well as the entire crypto sector, to go ballistic.
Gokhshtein had earlier stated that the high-profile case would conclude by December 15. He based his theory on something Charles Hoskinson had said in a recent YouTube session: ‘ask me anything.’ After this, reports circulated online that the settlement date could be December 15. Many XRP users began calling Hoskinson a liar. As a result, the founder of IOG and Cardano stated this week that he does not want to be involved in any debates about the Ripple case or XRP.
Both parties involved in the action, Ripple and the SEC, filed all relevant documents in early December, and the litigation is expected to go on a few months longer. Ripple CEO Brad Garlinghouse anticipates the issue to be resolved in the first half of 2023.
In December 2020, the SEC filed a lawsuit against Ripple for conducting $1.3 billion in securities offerings. The company is charged with breaching Sections 5(a) and 5(c) of the Securities Act of 1933. If the SEC wins the case, XRP will be treated as a security rather than a currency in the United States. This could start a chain reaction that leads to the reclassification of similar cryptocurrencies as securities.
Why Did FTX Collapse? Ripple CTO David Schwartz Lays Out The Reasons
Cryptocurrency investors have had a rough 2022, what with Bitcoin’s terrible price drop and Luna’s tragic end. The recent crash of FTX, a prominent exchange for trading digital currencies, has unfortunately halted the cryptocurrency market’s rebound during the past six months.
However, why did FTX collapse? A few issues surfaced, but nothing was made clear. Someone has, at last, made some arguments.
Schwartz Spilled 3 Reasons for the fall
In a recent tweet, David Schwartz, CTO of XRP, outlined the three main reasons for the fall of the FTX crypto empire.
- First off, he claims that Alameda Research, a trading company connected to FTX, used money from FTX users.
- Second, the funds that Alameda was meant to use from FTX’s customer deposits were mixed up with the assets used to place dangerous bets. Sam Bankman-Fried, the former CEO of FTX, now asserts that the assets were combined “unknowingly” and denies committing fraud.
- He concludes by noting that despite the firm’s obligation to deploy risk-managed, almost delta-neutral procedures, Alameda did not manage risks at all.
Schwartz posed the key question, “How can anyone not be shocked at this fraud/incompetence?
Who were the Torchbearers of the FTX Collapse?
However, there were business people that saw FTX as a personal brand and backed FTX.
In a recent CNBC interview, O’Leary revealed he frittered away $15 million FTX as the company’s spokesperson. CNBC’s “Squawk Box” hosts questioned the Canadian investor about FTX’s concerns. O’Leary blamed “groupthink” and that none of his business partners had lost money.
O’Leary promoted FTX online, alleging a link to convicted founder Sam Bankman-Fried. However, his previous stance was that he endorsed FTX because of its compliance processes. Which he denies now.
FTX investors also sued Tom Brady and Larry David for not doing enough research.
What is Schwartz’s Stance on O’Leary’s comments?
Schwartz said many crypto crashes are due to bad luck and it seems there is only one man behind it. The bear market is protracted. FTX and Alameda were designed to be delta neutral. However, Incompetence/fraud is a separate issue. Schwartz is “flabbergasted” by O’Leary’s FTX position. He says his latest utterances are “blind ignorance.”
Conclusion
Many individuals agree with Schwartz that, without a framework that bans crypto executives from making hazardous investments with client and investor money, “this will always happen unless it can’t.” Taking millions of dollars is tempting. FTX has taught us this. Most folks won’t learn this lesson.
The comment, predictably, angered many in the cryptocurrency world, who has since turned on Bankman-Fried.
Many lessons can be drawn from this, but maybe the most significant is to maintain your senses and avoid being fooled by celebrity endorsement; instead, conduct your own research before putting your money where your mouth is.
The silver lining is that someday a secure environment for cryptocurrencies and digital assets will be established, making them as secure as stocks. Don’t give up on cryptocurrency just yet; it might endure.
Sam Bankman-Fried is a ‘Terrible Trader’ Slams Ripple CTO, David Schwartz
Sam Bankman-Fried, the founder of FTX, was criticized on Twitter by David Schwartz, the chief technology officer of Ripple, who claimed that SBF has always been taking a significant directional risk.
“I keep hearing people describe SBF as a “great trader”. Is that really true? Everyone in the space made money during the massive bull run, at the same time Sam did. And when things went bad, his trades massively blew up. Maybe he was just taking the massive directional risk all along.”
He said that SBF was a poor trader and compared the situation to that of Celsius. As per David, Celsius did the same thing: they set up the situation so that they receive the majority of the profits, and if the small risks of massive losses materialize, they shift those losses to people who were unaware of the risks they were taking.
Additionally, he singled out SBF and took a dig at the claims that he forgot how much leverage he had and how much risk he was taking. If such is the case, he is a terrible trader since knowing how much and what kind of risk you are taking is the most crucial trading ability, according to him.
“FWIW, I think it’s more likely that he wasn’t taking large directional bets all along. I think I was able to capitalize on inefficiencies in the markets to make outsized profits at first. But when those dried up, he kept the profits coming by increasing leverage and risk.”
After a quick fall and collapse, FTX filed for Chapter 11 bankruptcy protection on November 11, 2022. Sam Bankman-Fried, the company’s founder and CEO, saw his $16 billion net worth drop to almost nothing as the company’s valuation plummeted from $32 billion to bankruptcy in a couple of days.
Dogecoin ( DOGE) Price Will Easily Hit ATH, Predicts David Gokhshtein
David Gokhshtein, the founder of Gokhshtein media, in a tweet, predicted that the Dogecoin price would reach an all-time high if integrated into Twitter’s payment modes. According to Gokhshtein, integrating Twitter and Doge can multiply the latter’s price in the near future.
Furthermore, Gokhshtein is not the only one who is speculating that Musk will integrate Dogecoin into Twitter’s payment services. As such, the meme coin has more than doubled in the past two weeks.
According to market data provided by Coingecko, Dogecoin price is up approximately 109 percent in the past seven days to trade at around $0.13 at reporting time. The coin has risen to the top ten by market cap, now ranked in position 8 with a valuation of approximately $17.9 billion.
As a meme coin, Dogecoin is primarily designed for speculative purposes, although utility aspects have kicked in in the past few years. Furthermore, the Dogecoin network did not have developer activity for years since its inception until Musk gave much attention to the meme coin.
Dogecoin Price and Market Outlook
Dogecoin has led the meme coin industry, with Shiba Inu (SHIB) closely following in similar footsteps. Notably, Doge has majorly benefited from a robust global community of investors. Whereby data by onchain provider, Tokenview indicate Doge has 5,090,951 holders worldwide.
As a proof-of-work (PoW) secured blockchain, Dogecoin has a total hashrate of 530.69 (TH/s) and a mining difficulty of 7.75 (M).
Dogecoin has several characteristics that make it more desirable to most traders than other digital assets. On the top list, transactions on the DOGE blockchain are processed more rapidly and at a lower cost than those on the Bitcoin network. Every minute, a new block of user transactions is added to the DOGE blockchain to be processed. On the other hand, every ten minutes, a new block is processed on the Bitcoin blockchain.
Despite being a promising currency, it has an unlimited supply, and it can weigh down prices if the demand doesn’t match the supply.
The cryptocurrency market is in its second decade of existence. Market strategists forecast significant volatility in the coming decades as adoption goes viral worldwide. Moreover, countries have begun to adopt digital assets as legal tender led by El Salvador and the Central African Republic.
The Dogecoin ecosystem has much room to grow as it has not even ventured into the smart contract market, including play-to-earn and DeFis. Nonetheless, the Doge ecosystem can fly to the moon, majorly fueled by speculations.
Was this writing helpful?
Shiba Inu and Dogecoin Will Lead Next Bull Run – Predicts David Gokhshtein
David Gokhshtein, a former candidate for the US Congress who is now an entrepreneur and the head of Gokhshtein Media, has once more stated his support for two significant meme coins: Dogecoin and Shiba Inu.
But in prior tweets, he added that he had been using bitcoin and Ethereum for a long time and believed that XRP was on the way, whether people liked it or not.
David supported Shiba Inu in 2022 with a number of his tweets and has been enthusiastic about Dogecoin since last year. His primary point in his tweet on meme currencies is that both Doge and SHIB have attracted many new users to bitcoin and the cryptocurrency industry. particularly and will contribute greatly in the future.
His most recent tweet similarly resembled this. On October 17, he tweeted that despite the frequent discussion around meme coins, they would eventually “bring new retail purchasers into the crypto business.”
Gokhshtein openly acknowledged that he had not gone to SHIB in a tweet, explaining that the “Dogecoin killer” myth had kept him away. But he claims that when the next crypto bull market starts, meme currencies are going to go parabolic.
SHIB Price
At the time of writing, SHIB is trading at $0.00001007which is a 0.08% price increase, In the last 24 hours, it has traded as low as $0.000009723 and as high as $0.00001016. The trading volume in the last 24 hours is $166,803,779 and a market capitalization of $5,531,950,087.
The Bollinger bands are forming a narrow pattern which demonstrates a bullish momentum as the MACD line is crossing over the signal line suggesting that bulls are taking control of the market. Investors are advised to take caution when making financial decisions as the crypto market is highly volatile.
DOGE Price
Dogecoin is currently trading at $0.05938 which is 0.05% price increase. In the last 24 hours, DOGE has traded as low as $0.05845 and as high as $0.06068. The trading volume is $312,061,951 and the market capitalization is $7,864,369,733. There is 132.67B DOGE circulating in the market.
The Bollinger bands show a straight narrow pattern with the candle stick trading near the lower band. This is evident that DOGE is bullish. On the other hand, the MACD line is crossing the signal line as the RSI is currently at 45 heading towards the overbought region. Generally, Investors are urged to be careful of the bear market.
Was this writing helpful?
Here’s What David Gokhshtein Has To Say About Terra Classic (LUNC) Revival Roadmap
Terra Rebels, the volunteer developer group behind the 1.2% tax burn, released their official Terra Classic (LUNC) revival roadmap.
Edward Kim and Alex Foreshaw, the lead developers of Terra Rebels, gave triple objectives- “Rebuild the Algorithmic Fungible Token (AFT), Rebuild the project ecosystem, and Rebuild independence.”
In a tweet on September 29th, Terra Rebels announced the release of the official Terra Classic revival roadmap for which The Roadmap and the white paper are available on their official website. But this roadmap might change as the developments continue for the recovery of Terra Classic.
Terra Classic (LUNC) Revival Roadmap excites LUNC Critic David Gokhshtein, former U.S. congressional candidate and founder of Gokhshtein Media. After the roadmap was released, his stance seemed to shift. The group comes with an aim to rebuild independence from Terraform Labs and Do Kwon.
With the release of the Terra Classic (LUNC) revival roadmap, it is clear that the rebels have something big at the back of their minds, especially the plan to rebuild and recover the Terra Classic blockchain and LUNC price.
The group is also working to make Terra Classic completely independent of TFL.
David Gokhshtein’s shifting stands. Takes a U-Turn on Anti-LUNC Stance!
David has been going to and fro on his stand.
In a tweet today, David indicated his excitement about LUNC but his recent tweets indicate his stance seems to be changing. Gokhshtein Media founder previously also shifted from his views. David Gokhshtein commented that LUNC is a lottery and has no utility. But his stance changed to taking a chance in LUNC
after Binance agreed to burn trading fees on LUNC spot and margin trades and he planned to invest $500 in LUNC to see if the claims are right.
He even raised questions about the link between Terra Classic, Terraform Labs, and Do Kwon. Terra Rebels and validators gave confirmation that TFL and Do Kwon are focusing on LUNA v2.
Was this writing helpful?
Multi-Millionaire David Rubenstein Reveals His Crypto Investment
The millionaire co-founder of Carlyle, David Rubenstein, claims to have personally invested in bitcoin companies and does not foresee Congress overly regulating the industry. Rubenstein remarked on CNBC’s Squawk Box on Thursday that he is still hopeful about the future of the companies even though the market because younger generations are working hard to develop and encourage new ideas.
In 2022, the cryptocurrency market began to decline as investors worried about the effects of the Fed’s aggressive monetary tightening policy. As a result, Bitcoin and other cryptocurrencies have substantially decreased from their all-time highs. The majority of digital assets are currently losing money as a result of the market’s ongoing selling pressure.
The multi-billionaire investor said that in addition to being interested in tokens, he is also interested in companies that operate in the sector.
“Some of the blockchain-related investments and things associated with cryptocurrency are going to stay with us for some time,” concluded Rubenstein.
The co-founder of the $376 billion AuM global investment firm Carlyle Group praised Sam Bankman-Fried, the creator of FTX, for acting to promote the cryptocurrency sector and for bringing liquidity to suffering businesses.
Given the existing concerns that regulators could hinder innovation and restrict the market, Rubenstein also expects that Congress will fairly regulate the area. This occurs when more countries around the world work to foster an environment where cryptocurrencies can thrive.
Japan to Revitalize the Economy
Japan’s finance regulator proposed easing corporate tax restrictions for crypto assets as well as lower charges for individual stock investors in support of Prime Minister Fumio Kishida’s measures to revitalize the economy.
In its yearly request for a modification to the tax legislation, the regulator stated that businesses shouldn’t be compelled to pay taxes on paper earnings on cryptocurrency they hold after issuing them. The request was made public on Wednesday. The Financial Services Agency also demanded that a plan that offers tax advantages to private investors be reinforced.