BITCOIN

While X, the platform formerly known as Twitter, has made a turn to share some of its earnings with its users, the lack of a genuinely universal payment method – like crypto – means users of countries such as Russia and Venezuela are excluded from getting these benefits, disrupting Elon Musk’s intentions of incubating a global content ecosystem. Elon Musk’s X Seeks to Open an ‘Entire Financial World’ While the acquisition and transition of X, the platform formerly known as Twitter, to the hands of Elon Musk, tech visionary, and eccentric millionaire, has not been without its hiccups , it’s undeniable that Musk’s vision has changed the direction of the company – for good or otherwise, depending who you ask to. The legacy Twitter, commandeered by Jack Dorsey, felt like more of a traditional Nasdaq-listed company with processes carried out by company employees, and users were separated from it. Musk has tried to scrap this notion, having a more close-to-the-user approach and introduci

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: The Argentine peso reaches historic lows, Tether’s USDT accounts for more than 80% of the transactions in the Brazilian market, and Binance gets fully licensed in El Salvador. Argentine Peso Sinks Before Elections The Argentine peso sank to historic lows this week, reaching an exchange rate of 605 pesos per U.S. dollar. Economic analysts linked this accelerated devaluation with the uncertainty surrounding the general ballotage held on Sunday, where Argentines elected their candidates for the next elections. Mateo Reschini, a research analyst for Inviu, explained that big capitals preferred to secure their investments in foreign currency to protect from possible fluctuations caused by the outcome of the ballotage. Reschini stated : The market takes note of the relevance of the date of the upcoming elections and decides to be covered against possib

Hovering just above the $29,000 mark, bitcoin’s value remained relatively stable while an interesting event occurred on Saturday afternoon: a dormant cache of 195.79 bitcoins, untouched for over seven years, was transferred for the first time since 2016. This action was followed by another sequence of events; when a batch of slumbering bitcoins from 2014 was spent, marking their first movement in nearly a decade. Over $11 Million in Dormant Bitcoins Spring to Life Fast forward to August 12, 2023, when an impressive sum of 391.305 BTC , valued at $11.4 million, stirred from its long hibernation. The term “sleeping bitcoins” denotes a category of bitcoins lying inactive in an address, unspent and unmoved for extended periods. These quiescent bitcoins, often the subject of intrigue and conjecture among cryptocurrency enthusiasts, earn their “asleep” label due to their lack of active trading or usage. A significant shift in these dormant assets could conceivably send ripples through th