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- Crypto Alpha - 19 October 2024
Crypto Alpha - 19 October 2024
Daily Alpha on All Things Crypto, Web3 and Blockchain
TL;DR
OpenAI and Microsoft have brought in investment banks to help with equity conversion negotiations.
A U.S. federal judge has revealed evidence from Trump’s election immunity lawsuit.
Bitcoin’s dominance has climbed past 65%, hitting a three-year high.
The Montenegrin court has once again postponed Do Kwon’s extradition while his appeal is under review.
Federal Reserve Governor Waller has stated that smart contracts and DLT aren’t yet capable of achieving full financial decentralization.
The U.S. budget deficit for fiscal year 2024 has soared above $1.8 trillion, ranking as the third largest in U.S. history.
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Alpha of the Day
OpenAI and Microsoft Tag Team Investment Banks for Equity Negotiations
In the latest corporate tango, OpenAI and Microsoft have called in the big guns—investment banks—to help them navigate the murky waters of equity conversion negotiations. Think of it like hiring a financial referee to make sure nobody gets knocked out before the final round. While the details of the equity shuffle are still under wraps, the move signals that both tech titans are getting serious about future-proofing their partnership. As for the investment banks? They’re probably polishing up their crystal balls, trying to predict which way this AI storm will blow.
Trump’s Election Immunity Lawsuit Just Got Spicy
A U.S. federal judge just dropped the mic on Trump’s election immunity lawsuit, releasing evidence that’s sure to keep legal pundits busy for weeks. Think courtroom drama meets political thriller, with a twist of "What happens next?" Whether you’re team Trump or not, the lawsuit is shaping up to be the kind of saga that could make even the most seasoned binge-watchers pause their Netflix shows. As the legal rollercoaster continues, one thing's clear—this isn't going to be a smooth ride.
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Bitcoin: The Comeback Kid at 65% Dominance
Bitcoin’s back, baby! With its dominance over the crypto market now surpassing 65%, it’s like the King of Crypto just walked back into the room, and everyone else is nervously sipping their drinks. This marks the highest level in three years, reminding the altcoins that Bitcoin isn’t just a passing fad. Whether it’s due to market sentiment, institutional backing, or just good old-fashioned hype, BTC is flexing hard. Let’s see if the other cryptos can keep up—or if they’re destined to be forever living in Bitcoin’s shadow.
Do Kwon’s Extradition on Pause… Again
In the never-ending saga of Do Kwon, the Montenegrin court has hit the snooze button on his extradition once more, pending his appeal decision. It's like the crypto soap opera we didn’t ask for, but can’t stop watching. With every legal twist and turn, Do Kwon seems to be buying himself a bit more time. Meanwhile, crypto fans and detractors alike are left wondering: Will this be the last delay, or is this just another cliffhanger in the Do Kwon chronicles?
Waller on Smart Contracts: Not Ready for the Big Leagues Yet
Federal Reserve Governor Waller just dropped a truth bomb: smart contracts and distributed ledger tech (DLT) still have a way to go before they can fulfill the dream of full financial decentralization. It's like having the keys to a sports car but no gas in the tank—great potential, but you’re not going anywhere fast. While tech enthusiasts might be disappointed, Waller’s cautious approach suggests that there’s still plenty of room for innovation before DeFi truly takes over.
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The U.S. Budget Deficit Hits a Whopping $1.8 Trillion
Brace yourselves—America’s budget deficit has soared past $1.8 trillion for fiscal year 2024, making it the third largest in U.S. history. It’s like that moment when you check your credit card bill after an online shopping spree… except on a national scale. The growing deficit is bound to spark debates over spending, taxes, and whether anyone actually has a plan to rein this thing in. For now, though, it’s looking like Uncle Sam might need to tighten his belt—or at least figure out where all that money’s going.
Waller Sees DeFi as a Game-Changer for Financial Markets
Federal Reserve Governor Waller has officially entered the DeFi chat, suggesting that decentralized finance could have a “profound” effect on the way financial markets operate. Translation? DeFi’s not just some niche corner of the crypto world—it might just shake up Wall Street as we know it. But before we get too excited, Waller also hinted that the technology has a long way to go before it becomes the new normal. So, while DeFi’s future is looking bright, it might not be time to cash in your traditional investments just yet.
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Daily #Crypto Alpha | October 19 2024… x.com/i/web/status/1…
— WAGMI | Crypto, DeFi & Web3 News (@wagmiglobal_)
1:08 PM • Oct 19, 2024
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