TLDR

Recently, AVAX experienced a surge following the announcement of a collaboration with Republic, a prominent private markets investment platform. Meanwhile, Honda Motors now accepts DOGE as a means of payment, which could increase its value. Yet, Rebel Satoshi has burst onto the crypto scene and is threatening to overtake other top altcoins. Read more to know why investors are turning to Rebel Satoshis $RBLZ.

Rebel Satoshi, a meme coin with a bold mission to disrupt the status quo, seeks to unite rebels against centralized organizations while infusing playfulness into the movement. Drawing inspiration from Satoshi Nakamoto and Guy Fawkes, Rebel Satoshi aims to dismantle systems favoring elites, demonstrating the collective power of the underdogs.

At the core of the Rebel Satoshi movement is the $RBLZ token, serving as a beacon of hope for rebels and driving a community-run ecosystem. Investors in $RBLZ can enjoy exclusive benefits, including staking rewards.

In its current Early Bird Round of the presale, each $RBLZ token is priced at $0.010, with an anticipated 30% price increase in the next round to $0.013. Early investors stand to gain a remarkable 150% return on investment, with $RBLZ expected to reach $0.025 post-launch. Rebel Satoshi also aspires to achieve a $100 million market capitalization, positioning $RBLZ as a top altcoin to watch.

Avalanche Price Prediction: Will the Latest Collaboration Cause Significant Uptick For AVAX?

On November 17, Avalanche revealed a groundbreaking collaboration with Republic, a prominent private markets investment platform. As stated by Avalanche, this partnership aims to introduce the Republic Note, a profit-sharing token built on the Avalanche blockchain.

Since this announcement on November 17, the price of AVAX has dipped by 5.19% from $21.94 to $20.80 on November 22. Per the latest price forecasts, experts believe that the value of AVAX will continue to rise. They predict that AVAX will reach $25 by mid-December.

On the other hand, some market analysts are bearish on the future of Avalanche because of the uncertainty in the market, as the SEC has been hot on the heels of some of the worlds biggest exchanges. They predict that AVAX could dip to $17 by the end of November.

On September 27, car manufacturer Honda Motor Co. announced that they had started accepting Dogecoin as a means of payment. This announcement is part of Hondas efforts to incorporate payment flexibility into its offerings.

Following this announcement, the value of Dogecoin has increased from $0.0605 on September 27 to $0.0762 on November 22, signifying a 25.95% price increase. Dogecoin experts are quite positive about the future of DOGE because of the possibility of X integrating the coin as a payment option. They forecast that DOGE could rise to $0.08550 in December.

On the other hand, the Dogecoin bears are skeptical as they believe that DOGE could witness corrections before the end of the year. They predict that DOGE could fall to $0.0550 by mid-December.

For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram

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Crypto Triple Threat: Can Avalanche, Rebel Satoshi, and ... - Analytics Insight

The two-minute video clip has a low-budget, jittery feel. Quick, clumsy transitions tee up self-consciously cheesy reenactments. The vibe is high school AV clubexcept for the clips narrator. He looks like a stock photo of a bureaucrat, in a dark gray suit jacket and blue dress shirt. His wide-set eyes never look away from the camera; his hands never stop gesticulating.

The man is the chair of the Securities and Exchange Commission, and as elevator music swells, a title screen reveals this to be another edition of Office Hours With Gary Gensler. Normally, these short videos are upbeat explainers on topics from SPACs to offshore shell companies. But this is a special edition about the perils of celebrity-sponsored investment products. (Short summary: Be careful!)

Gensler shared the episode with his 250,000 Twitter followers on Oct.3, 2022, and it was particularly special because it coincided with big news: The SEC had extracted a $1.26million settlement from Kim Kardashian, related to the actress failing to disclose that she had been paid to plug a scammy cryptocurrency token on Instagram. Published at the outset of the Monday morning news cycle, the video had the desired effect: Media outlets from CNBC to the New York Post lapped it up. The SECand Genslerappeared everywhere.

Federal agency headstypically buttoned-up lawyerly typesdont traditionally devote their time to semi-cringey social videos. But Gensler has posted more than 30 episodes of Office Hours, each one a potential magnet for media attention. In an early November interview with Fortune, Gensler describes Office Hours as core to his mission. Investor protection and education, engaging with the public, are what the SEC should be doing more of, in more creative ways, he saysto give investors the information to make good decisions. Its about articulating what this reform agenda is, he says.

At the same time, Office Hours is cheeky and unabashedly combative: quintessentially Gensler. Hes been an SEC chair like no othera fixture on TV and social media. And he relishes battle, whether its sparring with crypto advocates, tussling with lawmakers on Capitol Hill, or wrangling with other bureaucrats over who gets to set the rules of the road for investors.

Genslers hard-charging approach has made him one of Washingtons most recognizable figures. And halfway into his five-year term at the SEC, he has never wielded more power to affect the lives of investors. Hes been pressing to enact Biden administration priorities, which include corporate climate disclosures, tightening oversight of investment advisors, and cracking down on tech-driven consumer-focused products like Robinhood and crypto projects.

But Genslers over-the-top intensity has proved divisive, and critics and allies alike agree that his aggressive approach to regulation and his instincts for splashy gestures could ultimately backfire. Much of his agenda has become bogged down by opposition from the private sector and an increasingly disenchanted Congress.

To gauge Genslers impact, Fortune spoke with more than 30 financial experts, politicians, and current and former employees from all levels at the SEC and Commodity Futures Trading Commission (CFTC), including agency leaders. Many of them would speak only on background, given the immense influence that Gensler wields in D.C.and the reality that he still either regulates or manages many of them.

What emerges is a portrait of a leader whose drive is unquestionablebut who many fear may be driving his agency in the wrong direction. If you never lose, then youre not pushing the boundaries as far as you possibly could, says Lee Reiners, a lecturing fellow at the Duke Financial Economics Center and a Gensler admirer. But a recently departed SEC staffer expresses a darker mood, describing unrealized ambitions and conflict at the agency: That pressure and frustration builds up, says the staffer.

In late 2008 the U.S. was reeling from the Great Financial Crisis, and President Obama turned to Gensler to fill a big job. Obama tapped him to lead the CFTCan obscure agency that was being asked to tame the esoteric financial derivatives that had helped fuel the market meltdown.

At first glance, Gensler looked like a hallmark Washington revolving-door pushera wealthy banker jumping over to government to help his former colleagues. He had joined Goldman Sachs in 1979 after earning a Wharton MBA at just 21 years old, later becoming one of the youngest partners in the banks history. He had previously served in government, but at the Clinton administrations Treasury Department, in an era of deregulation. This background made him anathema to progressives; Bernie Sanders was among the senators who held up his nomination for nearly five months.

In response, Gensler leaned on one of his superpowers: He picked up the phone. Tyson Slocum, the energy program director of the left-wing consumer advocacy organization Public Citizen, was surprised to find himself on the other end. Gensler spent two hours pleading his case at Slocums Dupont Circle office. Before long, he had Slocums endorsement. When Slocum got pushback about Gensler from other progressives, he would answer, None of you have taken the time to meet with Gary Gensler personally.

Sanders ultimately relented on Genslers nomination, and Gensler soon helped sculpt a key provision in the landmark Dodd-Frank Act that granted the CFTC broad powers. He would spend the next five years on an aggressive campaign to institute dozens of new rules. Far from being a Wall Street crony, he remade himself as a scourge of the financial world. As one staffer who joined the CFTC right after Gensler puts it, He was a god.

Al DragoBloomberg/Getty Images

Several people close to Gensler say that the death of his wife, in 2006, caused him to reevaluate his priorities as he found himself alone with three daughters to raise. In a Time profile in 2012, Gensler recounts begrudgingly washing his eldests duffel bag of dirty clothes after she returned home from a trip. (Gensler has not remarried.)

Sitting down with Fortune on the sidelines of a financial technology conference in Washington, however, Gensler dismisses the idea that his convictions about regulation have changed. When he worked at the Goldman mergers department, he says, clients saw him as a resource for compliancein a positive way. This is a good thing, that we actually have some rules of the road, he remembers thinking.

Gensler still speaks with the drawn-out vowels retained from his childhood in Baltimore, where his father supplied cigarettes and pinball machines from which the young Gensler would help collect the nickels. He and his twin brother both earned college degrees, unlike their parents. Gensler taught an undergraduate class in accounting at Penn at age 20, a decision by the university that he wryly describes in hindsight as malpractice. He is an Energizer Bunny, says Bartlett Naylor, a financial policy advocate at Public Citizen. Its clear that he is the bright light among even other lights.

Still, that energy wore on his associates at the CFTC. Gensler pushed the traditionally nine-to-five agency to adopt Wall Street hours, much to the chagrin of career bureaucrats. One longtime staffer recalls how Genslerfrugal despite his riches earned at Goldmanfinally bought a new car after his late wifes station wagon was no longer safe for the road. Genslers daughters set up Bluetooth in the new ride, creating a nightmare scenario for colleagues. You couldnt get him off the phone, the staffer tells Fortune. After a while, your arm would get tired just holding the phone.

Genslers time at the CFTC was also marked by an overreaching ambition and a take-no-prisoners approach that would foreshadow his SEC tenure. In one episode, he alienated bankers at home and abroad by implementing what became known as the elevator bank advisory, which expanded the agencys supervision of overseas transactions. While Gensler and others defended the advisory as an overdue improvement, the move burned bridges with international counterparts, says one former CFTC regulator. He left kind of a dumpster fire for everyone else to clean up.

Agency veterans also say that in his push to cement the CFTCs authority, Gensler barreled ahead with initiatives before securing the money to pay for themparticularly on the real estate front. Gensler signed leases across the country, assuming he would be able to fill the offices with new staff. The CFTCs office space increased by almost 75% over his five-year term. But Congress never approved the fountains of cash that would fill the cubicles with staffers. A Government Accountability Office report from 2016 showed that at that time, 20% of the agencys Washington headquarters, 32% of its New York offices, and nearly 60% of its Kansas City offices were unoccupied.

Current CFTC regulators point to still-empty office space in D.C. as Genslers legacy, telling Fortune that staffers joke the barren halls are Genslers gift to us.

Gensler joined Hillary Clintons 2016 presidential campaign as chief financial officer soon after leaving the CFTC. But well before Clinton lost to Donald Trump, peers noticed how cozy Gensler had become with Sen. Elizabeth Warrenearning the title Elizabeth whisperer from one Clinton senior staffer. Warren, a working-class Oklahoman turned Harvard law professor, had soared to political prominence with her searing populist critiques of the financial system, and she and Gensler had both worked to draft Dodd-Frank.

Four years later, Warren lost in the Democratic primaries to Joe Biden, but she seemed to win the battle over regulation, pushing the nominee to adopt her combative stance toward Wall Street and banks. Some sources say that Gensler and Warren have molded the Biden administrations approach to financial regulationthe more so since Biden tapped Gensler for SEC chair just before his inauguration.

Its a post that many view as a consolation prize. The running rumor in D.C. is that Gensler has had his eyes on becoming Treasury secretary since the Obama administration. That assumption was repeated in nearly every interview with Fortune, although always tip-toed around by his allies. Gary is singularly focused on being the best SEC chairman ever, says one, Dennis Kelleher, head of the progressive think tank Better Markets. Ive never talked to him about [Treasury]. (Gensler has never publicly expressed a desire for the job.)

But even without cabinet-level authority, helming the SEC has enabled Gensler to dive into bigger marketswith a much bigger staff, and much bigger targets.

Though you might think otherwise, I dont spend the majority of my time on crypto, Gensler says in an interview. Hes ribbing Fortune for its coverage of his battles with the industrybut laypeople could be forgiven for believing Gensler was all crypto, all the time.

After his stint on the Clinton campaign, Gensler was invited to teach a class at MIT. He noticed there were none offered on blockchain. Somebody should do that, Gensler recalls thinking, and in 2018 he became that someone. I did my best to try to teach it from the middle, Gensler says. Not being a Bitcoin maximalist or a Bitcoin minimalist.

Many crypto acolytes were able to audit the course, which a faculty member recorded and posted to YouTube. Gensler dived into the technical aspects of blockchain and explored the legal implications of the technology and its potential impact on investors. He came across as evenhanded and curious, and his elevation to the SEC prompted hope in some circles that hed be forward-thinking about crypto.

Genslers attitude changed, however, once he took office. In the interim, during the COVID-19 pandemic, a new generation of speculators jumped into crypto: Bitcoin and other coins soared in value, and predatory schemes multiplied as the hype grew.

The SEC became noticeably more antagonistic after that bubble burst and major crypto projects like Terra, Celsius, and FTX collapsed in 2022. It launched lawsuits against celebrities like Kardashian for promoting crypto projects without disclosing that they were being compensated. It also sued Coinbase and other exchanges that had believed they were playing by the book; the SEC argued they were offering cryptocurrencies that were not registered as securities, among other offenses.

Gensler says these actions clearly fall under the SECs protective mandate. Theres a lot of people trying to sell a better future to investors, even though [crypto advocates] really havent shown many uses in this field, says Gensler. You see company after company, entrepreneur after entrepreneur, misleading the public, going bankrupt. He often invokes Franklin D. Roosevelt, under whom the SEC was founded, citing that presidents goal of complete and truthful disclosure to rein in a lawless securities market after the crash of 1929.

You see company after company, entrepreneur after entrepreneur, misleading the public, going bankrupt.

But Genslers delight in taunting opponents on social media doesnt have a New Deal precedent. (Nor does the zeal with which crypto entrepreneurs and advocatesmany of them meme lords in their own rightfire back.) Gensler regularly posts jabs at the crypto industry and its cartoonish villains. On Halloween, he tweeted a crypto in-joke: If Satoshi Nakamoto went as Satoshi Nakamoto for Halloween, would we be able to tell? (We could explain, butask your kids.) He then said that crypto companies tricking investors should start treating them to legal compliance. When we talk a couple of weeks later, he proudly says that he came up with the idea for the tweet; his director of public affairs helped craft the language.

Calling out fraud, of course, is a vital function. But most crypto leaders argue they are entirely law-abidingand they believe Gensler should create rules that help them better serve customers, rather than punishing them based on old rules that dont fit the technology. In his first days at the SEC, Gensler told Congress he thought there should be new legislation to regulate the industry. But Congress, gridlocked as it is, hasnt passed any.

Rushing to fill the vacuum by applying existing law, Gensler has entangled the field in a question of jurisdiction: whether cryptocurrencies are commodities, like gold bars, or securities, like stocks or bonds. Everyone agrees that Bitcoin is a commodityit got labeled as such in 2015, before the wider industry took off. But Gensler argues that nearly every other cryptocurrency is a security, an instrument that enables people to invest in and profit from a common enterprise.

The SEC leader has the same line for crypto companies whenever hes dragged to testify in Congress: Come in and register the way securities broker-dealers and exchanges do. We dont let the New York Stock Exchange list unregistered stocks, says Hilary Allen, a law professor at American University. Why should we allow a crypto exchange to list unregistered tokens? Many in the industry find the invitation disingenuous, arguing that their novel, decentralized business models cant conform with existing securities law.

At the same time, Gensler has hesitated to draw bright lines around specific currencies. (Talking with Fortune, he declined to articulate a position about whether the cryptocurrency Ether was a security, a waffling that one former SEC staffer says makes the agency look stupid.) So the stalemate continues. The upshot has been a lack of clarity for investors, especially as traditional finance embraces crypto through mainstream offerings like ETFs for Bitcoin and Ether.

The commodity-vs.-security debate has also sown discord between Genslers current agency and his old one. Summer Mersinger, a CFTC commissioner, cites an enforcement action against a Coinbase employee who was caught insider-trading tokens. Intending to bring a case of its own, the CFTC felt that some of the cryptocurrencies were commodities. But the agency was informed by the SEC that they would be treated as securities. Mersinger worried that courts could throw out the lawsuit because of the question of jurisdiction. Our enforcement divisions have always had a good working relationship, but I think thats beenmore than a little bit strained, she says.

A CFTC staffer put it more bluntly. Its like a horrible, dysfunctional marriage, the person said. Cooperation between our enforcement and their enforcement is essentially gone.

On climate issues and in other regulatory arenas, many staffers say, Gensler has often taken a bullheaded approach, insisting that proposed rules reflect his vision and not be negotiated or watered down. This approach largely worked for him at the CFTC. But in that role Gensler had explicit authority from Congress to shake up the regulatory landscape. Now he is charting a course on his own, without a robust legislative mandate to implement.

Mary Jo White, an SEC chair during the Dodd-Frank era, says one of Genslers biggest challenges may be his lack of such a legislative to-do list. A mandate can limit your discretionary bandwidth, she says, keeping a regulator from getting sidetracked by their own agenda. (She adds, Gary is very smart; he knows the markets, and hes sensitive and understands the legal risks.)

After taking the helm at the SEC, Gensler raised eyebrows with his staffing picks. He alarmed progressives by choosing a corporate defense lawyer as his enforcement chief, who quickly resigned. For other appointments, he veered in the opposite direction, hiring staffers with backgrounds in politics, advocacy, and academia. Career employees werent pleased. It reflects the Elizabeth Warren approach to thingsvery skeptical about industry insiders having a role in regulation, says one former SEC regulator.

Andrew HarrerBloomberg/Getty Images

Genslers team has scored wins on certain rules, most notably on how advisors for private fundswhich include hedge funds, venture capital, and private equityhave to disclose information to their investors. But his most divisive focus has been climate disclosures, a major priority of the Biden administration. Under a proposed rule developed by Genslers SEC, public companies would have to account for their emissions, as well as looming climate-related risks. We do have an important role in helping to ensure that public companies make full, fair, and truthful disclosure about the material risks they face, Gensler said in a speech in July.

One former SEC staffer recalls that Gensler held a meeting on climate change during his first weeks in office. I dont want to be sued, he told the gathered employees. Youre going to be sued, his general counsel replied. Well, I dont want to lose, said Gensler.

Win or lose, Gensler will certainly wind up in court. Politicians and industry argue that the climate rule goes far beyond the SECs scope. The rule requires some companies to report indirect emissions, caused by their supply chainfurther than even some eco-friendly companies are currently prepared to go. [The SEC hasnt] finalized that rule because I think they recognize its vulnerable to legal challenge, says Reiners, the Duke lecturer. They bit off more than they could chew in an attempt to appease the progressives.

Indeed, finalizing rules has turned into a headache for Gensler. According to the Securities Industry and Financial Markets Association, Gensler issued 62% and 91% more rule proposals, respectively, than his two most recent predecessors in his first 30 months in officeranging from how broker-dealers can use predictive analytics about clients to a partial overhaul of the U.S. trading system. Such undertakings require comment periods to solicit industry feedback, however, and Genslers ambition has drawn pushback from across the financial world. In August, Bloomberg reported that Genslers record of getting his rules adopted was the slowest in decades. (At a House hearing in September, Gensler testified that his rulemaking was part of a coherent agenda based upon authorities granted by Congress, and said the agency valued the publics input.)

Still, the discord has taken a toll on SEC employees. A former staffer credits Gensler with shaking up the entrenched bureaucracy but adds that his aggressive approach chased many staffers into the private sector. Under Gensler, staff attrition rose from an average of 4% in the three years before he took over to 6.3% in 2022, although it declined back to 4.7% in 2023.

Another staffer who left under Gensler felt the chair was motivated by ideology rather than by what might work best in the industry. I felt like I was becoming a scribe for ideas I didnt particularly agree with, they say. I didnt see the securities laws as being political.

Even though he has nearly three years left in his term, Genslers opportunity to make an impact may be dwindling. His political capital seems to be declining, with even members of his own party ramping up attacks at congressional hearings, especially on climate and crypto. Gary Gensler is a politician masquerading as a regulator, says Ritchie Torres, a Democratic congressman supportive of the crypto industry and outspokenly critical of the SEC chair. Genslers most ambitious rules and most expansive lawsuits, meanwhile, are bogged down in comment periods and in the courts. Indeed, its the courts that may hold the key to Genslers legacyand the future of his agency.

The judiciary system has tilted decidedly to the right of late. And the current Supreme Court, the most conservative in nearly a century, has shown a disdain for the administrative stateand for the authority of agencies like the SEC to exercise broad discretion in regulating business. Any lawsuits Gensler launches at the SEC, or that are brought against him, increase the risk of a court ruling that bars the SEC from wielding powers that Congress didnt explicitly spell out. One such SEC-related case is on the Supreme Court docket this termand some crypto advocates hope that cases involving their industry, including actions pitting the SEC against Coinbase and the blockchain firm Ripple, could soon follow.

62%

Gensler isnt alone among current regulators in pushing these boundaries. It has been a broader strategy of the Biden administration, championed by Warren and carried out by other leaders including Lina Khan, chair of the Federal Trade Commission, to act as tough cops on the regulatory beatincluding pursuing lawsuits against industry leaders. If courts quash them, the strategy could hobble regulators long-term goals in service of short-term wins. But the tough cops are comfortable taking risk, says Dukes Reiners; Gensler is doing exactly what Biden hired him to do.

Whatever the outcome, Gensler continues to relish the fray. As he walked onstage for an interview at D.C. Fintech Week in November, crypto advocates in the audience held up their phones to capture a clip of their antagonist. Gensler made a veiled joke about digital currency being as old as the telegraph. The crowd glared back at him. He was just getting warmed up and appearing to enjoy every minute of it.

Since becoming SEC Chairman in April 2021, Gary Gensler has proposed a flurry of rules at a pace that far exceeds that of his recent predecessors. Some of these proposals have already been implemented, including those concerning mutual fund fees and cybersecurity disclosures. But the majority have notand some of Genslers biggest swings risk being bogged down or wiped out in court.

Climate changeGenslers most high-profile initiative would require companies to file detailed and wide-ranging disclosures about their environmental emissions. That mandate dovetails with the Biden administrations push to address climate change, but it has sparked a furious pushback from industries that claim such a rule would be onerous and unconstitutional. While Gensler did pass a rule cracking down on corporate greenwashing, the fate of the much larger climate rule looks precarious at best.

Trading rulesThe SEC chair is on a collision course with Wall Street over rules to overhaul trading systems that some say contributed to excesses of the 2021 meme stock mania. The most controversial is a proposal to replace so-called payment for order flow, which helps brokerages subsidize lower trading commissions, with a new auction system. The likes of Charles Schwab and NYSE have mounted a vigorous opposition.

CryptoGensler has succeeded in taming the industrys wildest excesses with a widely publicized series of lawsuits. Some big playersnotably the trading exchange Coinbaseare pushing back in court, filing challenges that seek to limit the SECs jurisdiction. Litigation over this issue and others could short-circuit Genslers broader agenda, if such suits lead to judicial rulings that curb the agencys powers.

A version of this article appears in the December 2023/January 2024 issue of Fortune with the headline, Comfortable in the hot seat.

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Gary Gensler has remade the SEC into a crypto nemesis and climate warrior. Now a backlash is brewing - Fortune

When it comes to the crypto markets, BTC is king. Your Grandpa might not know anything about ZK Rollups and smart contracts, but he will surely have heard of Bitcoin.

The fact BTC is the dominant player in the markets is well known. Throughout the summer and early fall of 2023, BTC has hovered somewhere between 49-51% of the total cryptocurrency market cap. This is shown in the image below.

The point of the BTC-D (Bitcoin Dominance) chart is to show how much of the market cap the coin covers compared to the rest of the market. In 2023, the total market capitalization of crypto has ranged around $1-1.2 Trillion (1.58-1.9 Trillion AUD), and Bitcoin has represented somewhere around half that amount. It ebbs and flows, of course. Others Ethereum (ETH), Tether (TUSD), Ripple (XRP) have significant market caps, but the general trend has been that BTC represents around half the market, give or take a percentage point either way. The huge market cap, volumes, and liquidity make trading Bitcoin attractive for both retail and institutional investors.

But will this always be the case? Some believe that Ethereum, in particular, will flip BTC in market cap at some point. They call this potential event The Flippening. The debate over whether or not it will happen is interesting because it gets to the heart of how traders and investors view cryptocurrency and the future of the sector. Before discussing the prospect of The Flippening, lets take a quick look at Bitcoin and Ethereums attributes.

Bitcoin

The first, biggest, and most well-known cryptocurrency. In fact, some proponents, what we call Bitcoin Maxis, believe that Bitcoin is not a cryptocurrency at all. When they refer to the industry, they will speak of Bitcoin and cryptocurrency as two distinct things. But thats an argument for another day. There can only ever be 21 million Bitcoins, and around 19.5 million are already in circulation. This fact is weaponised by Bitcoin investors, who claim it is sound money when compared to the unlimited amount of fiat currency that can be printed by central banks.

BTC is often termed a store of value, a hedge against inflation, and digital gold. While you can argue that someone could just create another Bitcoin and they have tried there is a mover advantage. And BTC developers have already integrated the network around the world. In short, you wont defeat Bitcoin by mimicking it.

Ethereum

Ethereum is more than just a coin. In fact, ETH (the token Ether) and Ethereum can be seen as two different things. ETH powers the Ethereum network, which is, in a sense, a decentralised version of the Internet. The idea of Ethereum is not to replace money but to replace the current version of the worldwide web. This is often termed web3. The Web 1 era was the time of static websites and email in the 1990s. Web 2, the current iteration, is characterised by mobile and cloud computing, social media, and Big Tech gatekeepers like Apple, Google, and Meta.

The goal of web3 is to put power back into the hands of the users, stripping out central authorities Banks, Google, governments, and so on to create decentralised peer-to-peer networks and applications for everything from gaming to finance to social media to public records. Developers build apps, protocols, and smart contracts on Ethereum in the same way as they build on the web. The current supply of ETH is around 120 million tokens. Unlike BTC, there is no limit on the number of ETH that can be created.

The case for The Flippening

As we said earlier, arguing about the potential of ETH to flip BTC in market cap is all about how you see the future role of crypto. To believe it, youll have to believe in the idea of web3. You need to imagine that we build a new internet based on blockchain, with Ethereum as the heart and ETH as the blood. Consider, for example, that the title deeds of a property in Sydney are contained within an NFT and then transferred to another party in Melbourne in a peer-to-peer fashion without the need for a lawyer or real estate agent. Or picture social media with no central ownership where you are paid when you see advertisements.

Those are some of the dreams of web3 enthusiasts. While Ethereum is not the only blockchain for web3 development far from it it is the biggest and by far the most influential. Many distinct crypto projects are built on Ethereum, and ETH is required to secure those networks. Ethereum is an ecosystem. If the goals of web3 are met, some believe that ETH will not only flip BTC but will leave it far behind.

The case against The Flippening

While Bitcoin largely enjoys the role of first mover, Ethereum is only the first mover up to a point. Yes, the consensus is that most of web3 will be built on Ethereum, but the concept is more complex than that. For a start, there is always the chance that a so-called Ethereum-Killer could come along and supplant it. The likes of Cardano and Solana have been called such in the past, and others could come along. Secondly, Ethereum is cumbersome, and it largely relies on Layer 2s (distinct blockchain projects) to scale it. The upshot is that there might not always be demand for ETH, even if much of the web3 infrastructure is built on it.

Perhaps most importantly, many believe that web3 itself is idealistic. The decentralised utopia might be thwarted by regulation, and there remain questions over whether the whole movement is trying to solve questions that do not exist in the first place. Finally, we are only truly beginning to see the true adoption of Bitcoin by institutions. Some believe that the price could reach millions of dollars per Bitcoin and thereby gain a multi-trillion-dollar market cap. Even if the web3 movement is a success, BTC could become a store of value like the world has never seen, and ETH may never catch up.

Conclusion: Two camps can co-exist

For many of those involved in crypto both in terms of investors and blockchain developers the attitude to The Flippening is who cares?. Still, the arguments over the two largest cryptocurrencies by market cap can get heated. Bitcoin Maxis tend to believe in the purity of their project as sound money, almost worshipping Satoshi Nakamoto (the anonymous author of the Bitcoin White Paper) as a mythical demigod. ETH Maxis see a new internet and deride BTCs Proof of Work mechanism as archaic. But the truth is that both Ethereum and Bitcoin now feel too big to fail. We would argue that if the Flippening were to happen, it would only be if cryptocurrency and digital assets were so entrenched in the global economy and society that we could no longer live without them. Despite their difference, both ETH and BTC investors would fervently hope for that.

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

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Bitcoin Dominance: The Case for and Against The Flippening - FinanceFeeds

Bitcoin and Render are making notable advancements within the dynamic realm of cryptocurrencies. However, Rebel Satoshi stands out as a leading cryptocurrency to buy, demonstrating impressive growth during its presale. Can $RBLZ usurp top crypto coins like BTC and RNDR? Lets find out.

Binance revealed its collaboration with Fiat Automobiles on October 18, enabling the automobile manufacturer to receive payments in Bitcoin. This initiative holds the promise of expanding the global market relevance of Bitcoin.

Since this announcement, the price of BTC has risen by 25.88% from $28,719.81 on October 18 to $36,154.77 on November 16. Experts believe that the BTC price could rise to $45,000 by the first quarter of 2024 if the SEC approves the Bitcoin spot ETFs.

However, bearish BTC analysts suggest a potential downward trajectory for BTC, projecting a price decline to $25,175 by the end of 2023. They attribute this outlook to the Securities and Exchange Commissions (SEC) delay in approving the Bitcoin spot ETF applications before it.

The surge in meme coin popularity has attracted numerous investors, but many projects just tend to imitate others. In contrast, Rebel Satoshi stands out with its rebel-themed meme token, emphasizing a vibrant community fighting against oppressive elites and centralized control inspired by Satoshi Nakamoto.

A collection of approximately 10,000 unique NFTs and digital art characters narrates the Rebel Satoshi story, which is traded on a dynamic marketplace and forms the initial income stream. The second stream involves staking the platforms utility token, $RBLZ, offering attractive returns and enhancing blockchain security.

Beyond its serious mission, Rebel Satoshi embraces humor by introducing the Rebel Meme Hall of Fame, an early adopter-exclusive gallery showcasing the most amusing rebel-themed memes. With these amazing benefits, Rebel Satoshis $RBLZ has emerged as a top cryptocurrency to buy.

Now is the opportunity to join the $RBLZ presale early stages. A stake in the Rebel Satoshi story is obtainable by purchasing $RBLZ at a modest $0.010 during the Early Bird Round of Rebel Satoshis presale. With $RBLZ projected to reach $0.025 at launch, this represents a 150% growth for your holdings.

On November 15, Binance publicly disclosed its choice to list RNDR and introduce 12 new cryptocurrencies on its Japanese platform, Binance Japan. This listing is expected to drive adoption for top altcoins like RNDR.

Since this development, the price of RNDR has risen from $2.83 on November 15 to $3.01 on November 16, signifying a 6.36% increase. Consequently, Render experts are enthusiastic, as they expect the price of the Render coin to rise to $3.30 by the end of November.

However, other bearish analysts foresee a price dip to $2.50 because of the volatile state of the market. Additionally, technical indicators like the daily RSI and Bollinger Bands predict a price decline for the Render coin.

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Optimal Moment for Bitcoin Investment? Indicators of Upcoming ... - Cryptonews

By Ari Juels and Eswar Prasad

Blockchain technology and proof of reserves will help to create transparency and build trust

The vertiginous fall of Sam Bankman-Fried, the disgraced founder of the cryptocurrency exchange FTX who was recently convicted of fraud and money laundering in New York, has cast a harsh light on a largely unregulated market. For all the supposed wonders of the blockchain technology underpinning cryptocurrencies, the headline-grabbing events of the past few years indicate an industry in turmoil.

In addition to the criminal activity that led to the spectacular collapse of FTX in 2022 and Bankman-Fried's guilty verdict in early November, U.S. regulators have sued Binance, the world's largest crypto exchange, for allegedly operating a "web of deception." An industry-wide reckoning looms. Will crypto always be a magnet for fraud and malfeasance, or can it eventually transform and democratize finance?

An increasingly obvious paradox has emerged. Satoshi Nakamoto, the pseudonymous creator of bitcoin (BTCUSD), proposed the idea of a purely peer-to-peer version of electronic cash in the wake of the 2008 global financial crisis, when confidence in governments and central banks was at its nadir. Soon after the launch of bitcoin in 2009, Nakamoto wrote that "the root problem with conventional currency is all the trust that's required to make it work." Today, the system that was supposed to eliminate the need for trust between people and in traditional financial institutions is experiencing a crisis of trust.

Cryptocurrencies such as bitcoin and ethereum (ETHUSD) rely on computer code and networks that are not controlled or managed by a central party. Remarkably, such decentralization works. Transactions can be completed in a secure manner, without relying on a bank, credit-card company, or other institution. In principle, this should make financial systems less vulnerable to fraud and manipulation.

Any innovation inevitably attracts speculative mania and chicanery, especially in the early stages.

Unfortunately, grifters and unscrupulous companies have exploited customers and investors enamored with the new technology and, in the process, obscured crypto's most compelling innovation: blockchain-enabled tools that can improve transparency and strengthen the trustworthiness of the financial sector.

Maintained on computers around the world and publicly accessible by anyone with an internet connection, blockchains are digital ledgers that carry an immutable record of all transactions in a system. Their reliance on algorithms, rather than human interaction, creates a robust money trail that traditional financial infrastructure lacks.

So, how did we end up with a crypto industry that often contradicts its founding ethos? One answer is that any innovation inevitably attracts speculative mania and chicanery, especially in the early stages of its development. In the 19th century, banks deceived examiners by padding gold reserves with nails. More recently, the dot-com era gave us the likes of Enron, while a biotech boom brought us Elizabeth Holmes and Theranos.

Another problem is that the industry's consumer-facing platforms have simply grafted old ways of doing business onto a technology designed specifically to do away with them. For example, while FTX was an "exchange" -- a gateway to blockchain-powered cryptocurrencies -- it did not make fundamental use of decentralized technologies. Ironically, most crypto holders today store their assets in exchanges that require high levels of trust and carry many of the risks of traditional financial institutions.

Behind the scenes, the crypto industry has started using technology to shift the balance back toward innovation. One example is the development of proof of reserves, a mathematically-based method that enables institutions to verify their crypto assets. Such tools could help prevent debacles like FTX, where the lack of transparency allowed Bankman-Fried to conceal financial fraud.

Importantly, proof of reserves and similar tools work best for cryptocurrencies, not for ordinary financial assets -- including the U.S. dollar (DX00). These technical advances have therefore prompted traditional financial institutions -- the very ones bitcoin sought to replace -- to embrace crypto. JPMorgan Chase (JPM), for example, has plans to move trillions of dollars of value on to the blockchain, while monetary authorities are exploring central bank digital currencies, which would involve using blockchain technology to issue digital versions of their fiat currencies.

To be sure, the crypto industry faces several daunting challenges: the large environmental footprint of bitcoin mining; its use for illicit transactions; privacy shortcomings, and more. But, as proof of reserves suggests, the crypto community is innovating powerful new ways to harness the inherent transparency and trustworthiness of blockchain technology to create a more secure and flexible financial ecosystem.

As these innovations proceed, governments around the world are exploring ways to safeguard consumers from the crypto industry's excesses. They would do well to look past the headlines and seek a balanced approach that enables this remarkable technology to thrive.

Ari Juels, a professor at Cornell Tech, is co-director of the Initiative for CryptoCurrencies and Contracts (IC3), chief scientist at Chainlink Labs, and the author of the forthcoming The Oracle (Talos Press, 2024).

Eswar Prasad, professor of economics at Cornell University, is a senior fellow at the Brookings Institution and the author of The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance (Harvard University Press, 2021).

This commentary was published with the permission of Project Syndicate -- Whither Crypto?

Also read: 'Fraudsters, hucksters and scam artists': Gensler defends SEC track record on crypto in wake of FTX scandal.

More: All memes aside, crypto buyers aren't any different from stock investors

-Ari Juels -Eswar Prasad

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

11-18-23 1453ET

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Crypto will overcome the stain of FTX and Sam Bankman-Fried - Morningstar