Ripple's chief technology officer (CTO) David Schwartz made important statements regarding the block loss issue in the XRP Ledger, which has resurfaced in the XRP community. Schwartz stated that there was a software error during the initial development phase and approximately 32,000 blocks were lost because of it. The XRP Ledger, the blockchain network that underpins the XRP coin, does not contain data from the first 32,000 blocks. This has led to some claims that the block records may have been intentionally deleted. Regarding this loss, which sparked debate within the community, Schwartz maintained in a social media post that the block loss in question was not intentional. Related News: Critical Levels in Bitcoin Have Been Set - What Levels Must Be Exceeded for an Explosive Uptrend? What Level Is Important to Prevent a Decline? Schwartz said, “Existing data wasn't deleted to prevent further loss. There was no way to recover the lost data.” He also responded to the question of why the blockchain wasn't reset at the time: “Resetting the blockchain would have erased all data beyond block 32,000, rather than ensuring the integrity of the data.” Records on the XRP Ledger currently begin at block number 32,570, meaning that approximately 32,000 blocks from the first 10 days of the blockchain—a significant transaction history—have been irretrievably lost. Schwartz stated that this technical issue was first raised in May, and that the data loss occurred due to a software error while testing several ledger streams during early development. Although a plan to reset the system was made after the error was identified, this step was never implemented. As a result, the Ripple team decided to continue the system in its current form to ensure the security of subsequent blocks, even at the cost of losing the first ones. *This is not investment advice. Continue Reading: The First 32,000 Blocks of the Ripple (XRP) Network Are Missing: Ripple Manager Makes a Statement
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Gemini co-founder Tyler Winklevoss says that the banking giant JPMorgan is attempting to sabotage fintech and crypto firms. In a post on the social media platform X, the billionaire says that JPMorgan retaliated to a tweet he made last week, saying that the financial services titan was seeking to bankrupt fintech and crypto firms by charging them fees to access their customers’ account information. According to Winklevoss, JPMorgan reached out to say that the bank would be pausing its re-onboarding of Gemini, which was dropped as a JPMorgan customer during the Biden Administration’s crackdown on crypto. “My tweet from last week struck a nerve. This week, JPMorgan told us that because of it, they were pausing their re-onboarding of Gemini as a customer after they off-boarded us during Operation ChokePoint 2.0. They want us to stay silent while they quietly try to take away your right to access YOUR banking data for free through third-party fintechs like Plaid. Sorry Jamie Dimon, we’re not going to stay silent. We will continue to call out this anti-competitive, rent-seeking behavior and immoral attempt to bankrupt fintech and crypto companies. We will never stop fighting for what is right!” Previously, Winklevoss accused JPMorgan chief executive Jamie Dimon of sabotaging President Donald Trump’s attempts to push crypto by enacting these fees. “JPMorgan and the banksters are trying to kill fintech and crypto companies. They want to take away your right to access your banking data for FREE via-third party apps like Plaid and instead charge you and fintechs exorbitant fees to access YOUR DATA. This will bankrupt fintechs that help you link your bank accounts to crypto companies like Gemini, Coinbase, and Kraken so you can easily fund your account with fiat to buy Bitcoin and crypto… Jamie Dimon and his cronies are trying to undercut President Trump’s mandate to make America the pro-innovation and the crypto capital of the world. We must fight back! Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Billionaire Tyler Winklevoss Says JPMorgan Chase Is Attempting to Bankrupt Fintech and Crypto Companies – Here’s Why appeared first on The Daily Hodl .
Crypto microloans are experiencing a dramatic resurgence, fueled by a broader revival in digital asset markets closely tied to US President Donald Trump’s pro-crypto stance. Three years after a devastating market crash triggered a wave of bankruptcies across the crypto lending sector , a new crop of startups is aggressively re-entering the space. They possess unsecured, tech-driven lending models — and no collateral required. These ventures are riding a wave of investor optimism reignited by Trump’s pro-crypto agenda and the sharp rebound in the broader crypto market. At the forefront is Divine Research, a San Francisco-based firm that has issued more than 30,000 uncollateralized microloans since December. Working alongside OpenAI CEO Sam Altman’s eye-scanning crypto identity project , Worldcoin, Divine says it’s helping individuals excluded from traditional finance access short-term loans under $1,000, denominated in Circle’s USDC stablecoin. According to Diego Estevez, Divine’s founder, this is microfinance on steroids. He continued to say that they were lending to everyone from high-school teachers to fruit vendors — anyone with internet access. Divine’s model hinges on Worldcoin’s biometric verification. Once a borrower scans their iris, the system ensures they can’t re-enter the platform under a new identity if they default. Despite default rates of 40% on first-time loans, Estevez claims high interest rates of 20–30% and partially reclaimable tokens balance the risk. He also said individual depositors fund the loans, incentivized by promises of consistent yields. Crypto credit startups embrace programmable trust and AI Divine isn’t alone. 3Jane, a crypto credit startup backed by Paradigm (an early FTX investor), recently raised $5.2 million in seed funding. It offers unsecured USDC credit lines via Ethereum smart contracts, though it requires “verifiable proofs” of financial standing — such as bank statements or crypto holdings — rather than collateral. The firm sells defaulted loans to US debt collectors and is working on AI-powered agents that obey debt covenants automatically, potentially allowing lower interest rates. Meanwhile, Wildcat, another rising protocol, caters to market makers and crypto trading firms by offering customized, undercollateralized credit facilities. Over $170 million has already been lent through its Ethereum-based platform. Like competitors Clearpool and TrueFi, Wildcat allows borrowers to define terms like maturity and loan caps, while lenders self-organize in case of default. “We’re seeing a shift toward programmable trust,” said Evgeny Gaevoy, Wildcat adviser and Wintermute CEO. “In the absence of collateral, reputation and transparency become everything.” Wall Street, AI, and biometrics fuel high-stakes reboot of crypto lending The crypto lending revival comes as Bitcoin prices hit new highs and traditional finance warms to digital assets. Cantor Fitzgerald recently launched a $2 billion “Bitcoin Financing Business”, and JPMorgan is reportedly exploring crypto-backed loans. Even Coinbase is experimenting with AI agents embedded with crypto wallets, developed in collaboration with Altman’s OpenAI, that could one day autonomously manage loans and repayments. Still, memories of the 2022 crypto lending crash — marked by the collapses of Celsius and Genesis — loom large. Celsius’s CEO, Alex Mashinsky, is serving 12 years for fraud, while Genesis agreed to a $2 billion settlement in a lawsuit over defrauding 230,000 investors. Despite those risks, startups like Divine are betting that biometrics, blockchain, and AI can reboot crypto credit models for a new era where loans aren’t backed by assets, but by identity, algorithmic enforcement, and yield-seeking investors. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
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The crypto market is witnessing early signs of a brewing altcoin season. Ether (ETH) has been outperforming bitcoin (BTC), a sign that investors are beginning to rotate capital from the latter to the former. According to a weekly CryptoQuant report , a continuation of the current market trend could lead to a full-blown altseason, where bitcoin stalls and altcoins take off, raking in massive gains for investors. Investors Rotate capital to Altcoins For most of this bull cycle, ETH has underperformed against BTC. However, the situation has reversed. The relative price of ETH to BTC has surged from 0.018 to 0.031, reaching its highest level since January 24. The shift in ETH performance started after the ETH/BTC Market Value to Realized Value (MVRV) ratio fell into the extremely undervalued territory in April. This ratio has acted as resistance since early 2023. ETH has now recovered and outperformed BTC by 72%. CryptoQuant analysts suggest that the ratio could rise further if it surpasses its 365-day moving average, with ETH potentially outperforming BTC even more. With ETH receiving more capital now, the asset’s spot trading volume is exceeding that of bitcoin’s. For the first time in more than a year, the weekly spot trading volume for ETH surpassed that of bitcoin. ETH recorded $25.7 billion last week, while BTC saw $24.4 billion within the same period. Analysts revealed that this is the first time since June 2024 that ether’s weekly spot trading volume has exceeded bitcoin’s. This means the ETH/BTC trading ratio is above 1. Overall altcoin trading volume has increased to the highest level since March. This metric totaled $67 billion on July 17, a figure the market has not seen since March 2. The growth indicates a renewed interest in altcoins among investors. ETH Sees Less Selling Pressure Than BTC Furthermore, crypto investors are injecting more capital into U.S. spot Ethereum exchange-traded funds (ETFs) compared to their Bitcoin counterparts. Ethereum ETF allocations are growing faster than Bitcoin’s, as seen in the ETH/BTC ETF Holding Ratio climbing from 0.05 to 0.12. Meanwhile, the ETH/BTC exchange inflow ratio, which measures selling pressure for the two assets, declined in May to its lowest level since 2020. The drop signaled that ETH was facing much lower selling pressure than BTC. Although the ratio has increased since then, it is still far from extremely high levels, which is a bullish signal – ETH could continue to outperform BTC. The post Bitcoin Takes a Backseat as Investors Rotate Capital to ETH and Altcoins: CryptoQuant appeared first on CryptoPotato .
Bitcoin ( BTC ) could still reach the $130,000 mark, with the Market Value to Realized Value (MVRV) Extreme Deviation Pricing Bands highlighting a crucial range to watch for this milestone. According to on-chain analytics platform Glassnode , the metric suggests that as long as Bitcoin holds above the $110,000 support level, there is room for a renewed push toward an all-time high. Currently trading around $118,000, Bitcoin remains in a zone of growing optimism, but it has not yet reached the euphoric levels typically seen near market tops. Bitcoin MVRV pricing bands. Source: Glassnode The MVRV model, which compares Bitcoin’s current price to the average price at which coins were last moved, helps gauge whether the asset is overvalued or undervalued. Since early 2023, Bitcoin has steadily climbed, typically gaining momentum after clearing major technical levels. The asset is now approaching a historical zone that has often preceded previous peaks. To break above $130,000, Bitcoin must maintain its position above $110,000, now considered a key support level. Holding this level could pave the way for further upside, while a drop below it may delay a breakout. Bitcoin yet to hit euphoric levels At the same time, on-chain analyst Ali Martinez noted on July 26 that Bitcoin’s current rally still has room to run. He pointed out that while the asset has climbed to around $120,000, capital inflows into the broader crypto market remain relatively modest, suggesting investor sentiment hasn’t yet overheated. Cryptocurrency market aggregate market realized value chart. Source: Glassnode Martinez, citing Glassnode data, highlighted that aggregate inflows stand at roughly $82 billion, well below the $135 billion seen in December 2024, when Bitcoin was trading near $96,000. This divergence implies that, despite rising prices, ‘there’s still room to grow before we reach peak euphoria’. Bitcoin price analysis As of press time, Bitcoin was consolidating at $118,318, up 0.8% on the day but down 0.13% over the past week. Bitcoin seven-day price chart. Source: Finbold Meanwhile, technical indicators support the possibility of continued strength. For instance, Bitcoin is trading well above its 50-day simple moving average ( SMA ) of $110,580 and 200-day SMA of $90,392, both signs of a sustained uptrend. On the other hand, the 14-day Relative Strength Index ( RSI ) stands at 60.43, indicating bullish momentum without signaling overbought conditions. Featured image via Shutterstock. The post Here’s the key level Bitcoin must hold to claim $130,000 as ‘peak euphoria’ looms appeared first on Finbold .
The crypto industry’s effort for a more supportive regulatory environment in the US has paid off throughout the year, as evidenced by a recent report from The Hill highlighting the rapid expansion of crypto lobbying efforts. According to a recent report by The Hill, at least 27 crypto companies and advocates have submitted their first lobbying disclosures over the past months, reflecting a growing desire to influence legislation that could shape the future of digital assets. KuCoin Tops Lobbying Expenditures At $1 Million Per the report, these called “newcomers” represent a diverse array of interests within the industry, from betting platforms like Polymarket to gaming companies creating non-fungible tokens (NFTs) related to high-profile events. Together, these entities have invested nearly $2.8 million between April and June to lobby for legislation promoting digital assets, targeting key regulatory bodies such as the Treasury Department and the Securities and Exchange Commission (SEC). This legislative effort has already yielded results. The recently signed GENIUS Act, which received bipartisan support, is regarded as a significant endorsement for the industry, with the aim of providing a new regulatory framework for stablecoins. The House has also advanced several other key bills, including the CLARITY Act and the Anti-CBDC bill, during a dedicated “crypto week,” featuring creative lobbying tactics. A total of 73 companies and associations reportedly engaged in federal lobbying activities related to cryptocurrency, spending about $11.4 million. Among the new entrants, KuCoin, a Seychelles-based cryptocurrency exchange, led lobbying expenditures with $1 million, despite being barred from operating in the US market for at least two years due to regulatory violations. Pendulum Effect In Crypto Regulation? Miller Whitehouse-Levine, CEO of the Solana Policy Institute, emphasized that the industry has struggled not with innovation, but with understanding how emerging technologies fit within existing legal frameworks. While some companies like Bitdeer Technologies, which focuses on Bitcoin (BTC) mining, continue to address currency-related issues, many firms are leveraging blockchain technology for a broader range of financial products. Polymarket, operating under the name Blockratize, allows users to place bets on various events using cryptocurrencies, while Gala Games sponsored the White House’s Easter Egg Roll, promoting their online gaming platform that rewards players with crypto tokens. Looking forward, the crypto industry is keen to see the Senate advance the CLARITY Act, which aims to provide a regulatory blueprint for federal oversight of crypto firms. Additionally, a bill banning the Federal Reserve (Fed) from issuing its own digital asset or central bank digital currency (CBDC) has garnered interest from within the sector. However, Whitehouse-Levine expressed concerns about the potential for regulatory shifts, fearing a return to the cautious stance that characterized previous administrations. “The pendulum has swung from one extreme to another,” he noted, highlighting the need for consistent and stable regulatory conditions to foster growth and innovation in the industry. Featured image from DALL-E, chart from TradingView.com
Personal finance author Robert Kiyosaki is cautioning against having Bitcoin ( BTC ) exposure through exchange-traded funds (ETFs) rather than holding real coins. In a new post on the social media platform X, the Rich Dad Poor Dad author refers to Bitcoin ETF shares as “paper,” emphasizing that it’s still better to own the real asset directly rather than depend on institutions for exposure. “BEWARE of PAPER. I realize ETFs make investing easier for the average investor….so I do recommend ETFs for the average investor. Yet I extend these words of caution. For the average investor, I recommend: Gold ETFs Silver ETFs Bitcoin ETFs Yet an ETF is like having a picture of a gun for personal defense. Sometimes it’s best to have real gold, silver, Bitcoin, and a gun. Know the differences when it is best to have real and when it’s best to have paper. If you know the differences and how to use them…. you’re better than average. Take care.” Kiyosaki’s warning comes amid an explosion in the market cap of all Bitcoin ETFs. The latest numbers from the crypto data aggregator Coinglass show that Bitcoin ETFs collectively hold a market cap of $152.73 billion. At the top of the list is BlackRock’s iShares Bitcoin Trust (IBIT) with a market cap of $86.11 billion, followed by Fidelity Wise Origin Bitcoin Fund (FBTC) and Grayscale Bitcoin Trust ETF (GBTC) with market caps of $23.14 billion and $21.33 billion, respectively. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Rich Dad Poor Dad Author Issues ‘Paper Bitcoin’ Warning As BTC ETFs Shatter $152,000,000,000 appeared first on The Daily Hodl .
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