Bitcoin News and Finance: What You Need to Know

Renowned billionaire Jeffrey Gundlach, also known as the “Bond King,” has raised concerns over the potential risk to the U.S. dollar’s reserve currency status due to rising national debt. “The future of the U.S. dollar, and possibly out-of-control inflation, depends on getting the budget and spending under control,” Gundlach warned. Jeffrey Gundlach on Future of U.S. Dollar Jeffrey Gundlach, the CEO and chief investment officer of investment management firm Doubleline, has warned that the U.S. dollar’s reserve currency status may be at risk if the United States does not get its spending under control. Gundlach is nicknamed “the Bond King” after he appeared on the cover of Barron’s as “The New Bond King” in 2011. His net worth is currently $2.2 billion, according to Forbes. His firm oversees around $150 billion of assets under management (AUM). Gundlach said in an opinion piece: “Should the Federal Reserve continue to raise rates, which may happen, or should the national debt grow,...

On October 19, 2023, a dormant bitcoin address from 2012 sprang to life at block height 812,946, moving 200 BTC worth $5.74 million for the first time in nearly 11 years. This activity coincides with a recent surge of transfers from 2012 addresses, which began in early September. October Witnesses Several Connected 2012 ‘Sleeping Bitcoin’ Spends On Thursday, another 2012 dormant bitcoin address was activated, transferring 200 BTC valued at $5.74 million. The address “ 1DabG ” originated on November 1, 2012, when BTC was priced at $11.20 per unit , meaning the wallet’s initial value was $2,240. Btcparser.com first noticed the transaction, which garnered a low privacy rating from Blockchair’s privacy tool . The 2012 transaction received an 11 out of 100, flagging three vulnerabilities: matched addresses, co-spending, and round values. To date, seven 2012 transactions have been recorded in October. Last month saw a total of 19 transfers from 2012. The most recent 2012 transaction...

The U.S. Securities and Exchange Commission (SEC) has dropped all charges against Ripple’s executives, CEO Brad Garlinghouse and co-founder Chris Larsen. “The SEC made a serious mistake going after Brad & Chris personally — and now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC,” said Ripple’s chief legal officer. SEC Lawsuit Against Ripple’s Executives Dismissed The U.S. Securities and Exchange Commission (SEC) has dropped its lawsuit against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen. In a filing with the U.S. District Court for the Southern District of New York, the attorneys for the SEC, Ripple, Garlinghouse, and Larsen stated: It is now stipulated and agreed … that the claims alleged by Plaintiff Securities and Exchange Commission against Defendants Bradley Garlinghouse and Christian A. Larsen … are hereby dismissed in their entirety, with prejudice and without costs or fees to ei...

Federal Reserve Chair Jerome Powell stressed on Thursday the U.S. central bank remains committed to bringing down inflation and will maintain restrictive monetary policy until prices cool. Speaking at the Economic Club of New York, Powell hinted that further interest rate hikes may be appropriate if price pressures persist. Powell Signals for More Monetary Tightening as Fed Remains Focused on Inflation In his remarks , Jerome Powell said inflation is still too high despite recent moderation. While headline and core PCE inflation have come down from their peaks earlier this year, the Fed chair said it is too early to be confident inflation will stay near the Fed’s 2% target. “While the path is likely to be bumpy and take some time, my colleagues and I are united in our commitment to bringing inflation down sustainably to 2 percent,” Powell explained at the luncheon. He further noted tightening financial conditions are putting downward pressure on inflation. But Powell warned persi...