News – Page 416 – Coingeography

Gemini won’t hire MIT grads unless university drops ex-SEC chair Gensler

January 30, 2025 by Laura

Gemini, one of the leading cryptocurrency exchanges, has recently made headlines for its decision to boycott hiring from the prestigious Massachusetts Institute of Technology (MIT). This move comes after the university announced the rehiring of Gary Gensler, a former chairman of the Commodity Futures Trading Commission (CFTC) and a well-known figure in the crypto industry.

According to Gemini CEO Tyler Winklevoss, the exchange will not be recruiting any graduates from MIT due to Gensler’s appointment. In a recent tweet, Winklevoss stated, “We will not be hiring from MIT until they reconsider their decision to bring on Gary Gensler. It’s not about politics, it’s about protecting the integrity of the crypto industry.”

This decision has sparked a debate within the crypto community, with some applauding Gemini for taking a stand against Gensler’s appointment, while others believe it is an overreaction. One commentator even called it “overkill,” stating that Gensler’s past experience and knowledge could be valuable for the industry.

Gensler, who has been a vocal advocate for blockchain technology and cryptocurrencies, has also faced criticism for his strict stance on regulation. During his time at the CFTC, he oversaw the implementation of regulations for the crypto industry, which some believe hindered its growth and innovation.

However, Gensler’s appointment at MIT has been met with praise from many in the academic and financial world. He is set to teach a course on blockchain technology and its potential impact on the financial sector, which could be a valuable addition to the university’s curriculum.

While Gemini’s decision to boycott hiring from MIT may seem extreme to some, it highlights the growing tension between the crypto industry and regulators. As the industry continues to gain mainstream attention and adoption, the need for clear and fair regulations becomes more pressing.

In the end, it remains to be seen how Gensler’s appointment will affect the crypto industry and whether Gemini’s boycott will have any impact. But one thing is for sure, the debate surrounding this decision will continue to spark discussions about the future of cryptocurrencies and their relationship with regulators.

The need for cross-border collaboration on digital assets

January 30, 2025 by George

Adoption can’t happen without practical cross-border cooperation, which will support the growth of digital assets while managing risks and ensuring regulatory compliance.

Trump crypto order may disrupt Bitcoin’s 4-year cycle: Bitwise

January 30, 2025 by William

In the ever-evolving world of cryptocurrency, there is a constant debate about whether or not the market follows a predictable four-year cycle. Some experts argue that this cycle is a natural occurrence in the market, while others believe that it is simply a coincidence. However, Matt Hougan, the Chief Investment Officer at Bitwise Asset Management, has a different perspective on this matter.

Hougan recently stated that he believes the crypto market will not completely break away from the four-year cycle, but it will experience shorter and shallower pullbacks in the future. This statement comes as a response to the recent market volatility, which has caused many investors to question the stability of the crypto market.

But why does Hougan believe that the four-year cycle will still have an impact on the market? According to him, it is because of the human psychology and behavior that drives the market. He explains that the fear of missing out (FOMO) and the fear of losing out (FOMO) are powerful emotions that influence investors’ decisions. These emotions, combined with the limited supply of cryptocurrencies, create a cyclical pattern in the market.

However, Hougan also believes that the market will become more efficient over time, and as a result, the pullbacks will become shorter and shallower. This means that the market will recover faster from any downturns, and the overall volatility will decrease. This is good news for investors who have been hesitant to enter the market due to its unpredictable nature.

In conclusion, while the four-year cycle may still have an impact on the crypto market, it is likely to become less significant in the future. As the market matures and becomes more efficient, investors can expect shorter and shallower pullbacks, making it a more stable and attractive investment option. So, if you have been considering entering the world of cryptocurrency, now may be the perfect time to do so.

Riot Platforms again eyed for change by activist investor: Report

January 30, 2025 by Laura

According to recent reports, investment firm D.E. Shaw has acquired a significant stake in Riot Platforms, a leading Bitcoin mining company. This move has sparked speculation about potential changes within the company, as D.E. Shaw is known for its activist approach to investments.

Riot Platforms has been making waves in the cryptocurrency world, with its focus on mining Bitcoin and other digital assets. The company has been steadily growing and has become a major player in the industry. However, with D.E. Shaw’s involvement, it seems that changes may be on the horizon.

D.E. Shaw is known for its aggressive investment strategies and has a history of pushing for changes in companies it invests in. This has led to speculation that the firm may be looking to shake things up at Riot Platforms. Some experts believe that D.E. Shaw may be pushing for the company to diversify its operations and explore other cryptocurrencies, rather than solely focusing on Bitcoin.

This news has caused excitement and anticipation among investors and cryptocurrency enthusiasts. Many are curious to see what changes D.E. Shaw may bring to Riot Platforms and how it will impact the company’s future. Some are even speculating that this move could potentially lead to a surge in the value of Riot Platforms’ stock.

While it is unclear exactly what D.E. Shaw’s plans are for Riot Platforms, one thing is for sure: this investment firm’s involvement is a significant development for the company and the cryptocurrency industry as a whole. It will be interesting to see how this partnership unfolds and what it means for the future of Riot Platforms and the world of digital assets. Stay tuned for updates as this story continues to develop.

Tesla reports $600M Bitcoin gain in Q4 using new accounting rule

January 30, 2025 by William

In a surprising turn of events, Tesla has recently announced a significant net gain of nearly $600 million on its Bitcoin holdings in the fourth quarter of 2024. This impressive profit was made possible by the implementation of a new crypto accounting rule, which has allowed the electric car giant to capitalize on the soaring value of the world’s most popular cryptocurrency.

The decision to invest in Bitcoin was a bold move for Tesla, as the company’s CEO Elon Musk has been known for his unpredictable and often controversial actions. However, this move has proven to be a wise one, as the value of Bitcoin has skyrocketed in recent months, reaching an all-time high of over $64,000 in April 2021.

But what exactly is this new crypto accounting rule that has allowed Tesla to reap such impressive gains? It is known as “mark-to-market” accounting, which essentially means that companies can report the value of their assets at their current market value, rather than their original purchase price. This is a significant change from traditional accounting methods, which require assets to be reported at their original cost.

This new rule has been met with some criticism, as it can lead to volatile and potentially misleading financial statements. However, for companies like Tesla, it has proven to be a game-changer. By reporting their Bitcoin holdings at their current market value, Tesla has been able to capitalize on the significant increase in Bitcoin’s value, resulting in a substantial net gain.

This news has not only solidified Tesla’s position as a leader in the electric car industry but has also cemented their status as a major player in the world of cryptocurrency. With this impressive gain, it is clear that Tesla’s decision to invest in Bitcoin was a shrewd move, and it will be interesting to see how this new accounting rule continues to impact the financial statements of companies in the future.