by Penny Angeles-Tan | Nov 19, 2024 | Business
Donald Trump’s media company, TMTG, is in advanced talks to acquire cryptocurrency platform Bakkt, signaling his deeper involvement in the crypto space. This acquisition could mark a pivotal moment for both Trump’s business ventures and the future of cryptocurrency regulation in the U.S. Read on to explore how Trump’s moves could impact the crypto ecosystem.
During the campaign, Donald Trump firmly made 11 promises for the crypto ecosystem to gain support for votes in the 2024 US Election. After declaring his victory, Donald Trump showed his seriousness. Donald Trump made a breakthrough by holding serious discussions to acquire Bakkt and meeting with the CEO of Coinbase.
Are Donald Trump’s steps a good sign for the sustainability of the crypto ecosystem? Or maybe it’s just Trump’s gimmick to get clear support for his inauguration later? Let’s see the explanation in this article.
TMTG’s Strategic Push into Cryptocurrency
Donald Trump’s media and technology company, Trump Media & Technology Group (TMTG), is reportedly in advanced negotiations to acquire Bakkt, a prominent cryptocurrency trading platform.
This move marks a significant expansion of Trump’s business interests into the burgeoning cryptocurrency sector and highlights his ongoing efforts to capitalize on digital assets.
The reported acquisition has caused a surge in both companies’ stock prices, with shares of TMTG rising by over 16% and Bakkt’s stock soaring by an astounding 162%, triggering multiple trading halts due to volatility.
While the deal’s specifics remain unclear, sources suggest that it would be an all-share transaction, underscoring the value of TMTG’s stock despite its relatively modest earnings in the past year.
If finalized, this potential deal would serve as a key moment in Trump’s post-presidential ventures, positioning TMTG at the center of a fast-growing industry that aligns with Trump’s increasing involvement in cryptocurrency.
Trump’s interest in cryptocurrency is not new. Just weeks before the November 2024 presidential election, he announced the launch of a new crypto venture, World Liberty Financial (WLF), which would issue a token tied to the company’s activities.
The deal to acquire Bakkt would expand TMTG’s portfolio, giving the company a foothold in the cryptocurrency trading and services market, which could complement its existing plans to develop digital financial products.
A key figure in both Trump’s political network and Bakkt’s history is Kelly Loeffler, the former CEO of Bakkt and a former U.S. Senator for Georgia. Loeffler’s ties to Trump are significant. She co-chaired Trump’s inaugural committee in 2017 and has remained a close ally of the former president.
Trump’s Broader Crypto Strategy: Shaping Policy and Regulation
Trump’s push into cryptocurrency goes beyond business acquisitions. Reports suggest that his administration is planning to establish a “Bitcoin and crypto presidential advisory council” in the first 100 days of his presidency.
This council would aim to provide much-needed regulatory clarity for the cryptocurrency industry, which has long struggled with inconsistent rules and enforcement actions from agencies like the Securities and Exchange Commission (SEC).
Trump’s interest in cryptocurrency regulation is underscored by the involvement of key figures from the industry. Coinbase CEO Brian Armstrong is reportedly set to meet with Trump to discuss key appointments related to financial regulation and digital assets. This meeting aligns with Trump’s goal of appointing pro-crypto advocates to leadership positions within his administration.
Other figures reportedly under consideration for positions in Trump’s administration include Elon Musk, Vivek Ramaswamy, and Robert F. Kennedy Jr., all of whom have expressed favorable views on blockchain and cryptocurrencies.
Furthermore, Howard Lutnick, the CEO of Cantor Fitzgerald and a known advocate for Bitcoin, is rumored to be in the running for Treasury Secretary. These moves signal that Trump’s administration may take a more favorable stance on cryptocurrencies, potentially driving market growth.
Implications for the SEC and Future Crypto Regulation
One of the most significant areas of interest for the cryptocurrency industry is the leadership of the SEC, which has faced increasing criticism for its tough stance on digital asset regulation.
Trump has openly stated that he plans to replace Gary Gensler, the current SEC chair, on his first day in office. Gensler has faced backlash from crypto advocates due to his enforcement-focused approach, which many believe stifles innovation in the space.
Industry leaders like Armstrong and Ripple CEO Brad Garlinghouse have long called for clear, fair, and consistent guidelines for digital assets. Trump’s proposed advisory council and his discussions with crypto leaders suggest that the incoming administration is actively engaging with the industry to craft a more favorable regulatory environment.
Conclusion
The advanced talks between Trump Media & Technology Group and Bakkt represent more than just a corporate acquisition—they signal a strategic shift towards cryptocurrency and digital finance that could reshape Trump’s business empire and influence U.S. regulatory policy.
As Trump gears up for his return to the White House, the cryptocurrency industry is watching closely, anticipating a potential sea change in how digital assets are regulated and integrated into the broader financial ecosystem.
With key figures like Kelly Loeffler and Brian Armstrong involved, and with Trump’s administration likely to feature pro-crypto voices, the next few years could witness a transformative era for the cryptocurrency market, one that may be shaped by the policies of the 45th president of the United States.
Get the latest information about the crypto ecosystem to updates on the steps taken by Donald Trump only on the Bitrue website. Bitrue also provides various features that you can use to do research before buying your target crypto token.
by Penny Angeles-Tan | Nov 19, 2024 | Business
The crypto market has been volatile following Donald Trump’s 2024 election victory. With Bitcoin hitting new all-time highs, will another crypto winter follow? Learn what a crypto winter is, why it happens, and strategies like dollar-cost averaging and diversification to survive and thrive during these challenging market conditions.
In the two weeks of November, the crypto ecosystem has been like a roller coaster. Starting from Donald Trump’s victory in the 2024 US Election, the crypto ecosystem has suddenly strengthened.
Bitcoin’s price has even always reached a new ATH every day, starting from $87,000 to over $90,000. However, in the last few days, the majority of crypto tokens have suddenly turned red. BTC is still at a price of over $90,000, but its condition continues to decline.
Will the crypto ecosystem experience another crypto winter like in 2022-2023? Let’s discuss it together in this article.
Understanding the Beast: What is a Crypto Winter?
The cryptocurrency market, known for its wild swings, has experienced periods of intense volatility, often called “crypto winters.” These extended periods of declining prices can be challenging and rewarding for investors.
While it’s impossible to predict a crypto winter’s exact timing and duration, understanding its dynamics and employing effective strategies can help you navigate these turbulent times.
A crypto winter is essentially a prolonged bear market in the cryptocurrency space. It’s characterized by a significant and sustained decline in the prices of most cryptocurrencies, often accompanied by reduced trading volumes and investor sentiment.
These downturns can be triggered by various factors, including economic downturns, regulatory uncertainty, or even a loss of confidence in the underlying technology.
Surviving the Freeze: Strategies for a Crypto Winter
While crypto winters can be daunting, they also present unique opportunities for those who are prepared. Here are some strategies to help you weather the storm:
1. Dollar-Cost Averaging (DCA)
One of the most effective strategies to mitigate the impact of market volatility is dollar-cost averaging. This involves investing a fixed amount of money in cryptocurrency at regular intervals, regardless of the price.
By consistently buying, you reduce the average cost of your investment and smooth out the impact of price fluctuations.
2. Diversification
Don’t put all your eggs in one basket. Diversifying your portfolio across multiple cryptocurrencies and blockchain projects can help spread risk. Consider investing in different sectors, such as DeFi, NFTs, and blockchain infrastructure, to reduce exposure to any single asset or technology.
3. Risk Management
Risk management is crucial during a crypto winter. Setting stop-loss orders can help limit potential losses by automatically selling your cryptocurrencies at a predetermined price.
Additionally, taking profits when prices rise can secure your gains and reduce your exposure to further downside.
4. Long-Term Perspective
The cryptocurrency market is still in its early stages, and long-term trends often outweigh short-term fluctuations. By maintaining a long-term perspective, you can weather the storms and focus on the underlying potential of the technology.
5. Explore Alternative Income Streams
Crypto winters can be an opportunity to explore alternative income streams within the crypto ecosystem. Staking, lending, and yield farming are some popular ways to generate passive income with your cryptocurrency holdings.
6. Community Engagement
Joining online communities and forums can help you stay informed, connect with other crypto enthusiasts, and gain valuable insights. Engaging with the community can also boost your morale and provide support during challenging times.
Conclusion: Navigating the Bear Market
While crypto winters can be a daunting experience, they are a natural part of the market cycle. By understanding the underlying factors, employing sound investment strategies, and maintaining a long-term perspective, you can navigate these periods with confidence.
Remember, the key to surviving and thriving in a crypto winter is to maintain a long-term perspective, diversify your portfolio, and adapt to changing market conditions.
If you want to know how the crypto ecosystem is doing every day, you can visit the Bitrue blog directly. There are many articles for you to read so that you are always updated with the developments in the crypto and blockchain world.
by Penny Angeles-Tan | Nov 18, 2024 | Business
Solana’s price surge, bullish technical indicators, and strong on-chain metrics suggest a potential breakout, with the cryptocurrency eyeing a new all-time high of $250. Explore Solana’s technical outlook, regulatory developments, and factors influencing its growth amidst market volatility.
Solana, the high-performance blockchain platform, has been making significant strides in the cryptocurrency market.
Its recent price surge, coupled with positive on-chain metrics and favorable regulatory developments, has positioned it for a potential breakout even though the crypto market is experiencing a lot of price declines today.
With the current performance, is it true that Solana will soon reach its new ATH at $250? Can Solana reach the resistance price to reach the new ATH? Check out the explanation below.
Solana’s Technical Analysis: A Bullish Outlook
At the time of writing this article on November 18, Solana’s price is currently at $233,200. This increase is supported by the RSI value which is at 64.96, which means that the buying trend is more dominant than the selling trend. Solana’s MACD line also shows a bullish signal.
Solana’s technical analysis paints a bullish picture. The cryptocurrency has successfully broken out of a symmetrical triangle pattern, indicating a strong upward trend. The $222 resistance level has now turned into support, providing a solid foundation for further growth.
However, the current price range between $234 and $242 represents a critical zone. A decisive break above $242 could propel SOL towards higher resistance levels, potentially reaching its all-time high. Conversely, a failure to hold this level could lead to a correction.
On-Chain Metrics: Signaling Strength
On-chain metrics further support Solana’s bullish outlook. A significant spike in open interest and dominance of long positions among traders indicate strong investor confidence.
Additionally, Solana’s impressive transaction volume, particularly during the US election week, highlights its growing adoption and network activity.
Regulatory Tailwinds and Institutional Interest
The potential for a Solana ETF listing in the US has generated significant excitement among investors. A favorable regulatory environment, especially under a crypto-friendly administration, could accelerate institutional adoption of Solana.
Market Sentiment and Bitcoin’s Influence
The broader cryptocurrency market, particularly Bitcoin, is also experiencing a bullish trend. Bitcoin’s recent price surge could further fuel the momentum of altcoins like Solana.
However, on the same day, the price of BTC decreased. From its highest price and latest ATH at $91,455, the price of BTC is now $89,937 with a decrease of 1.54%.
Conclusion
Solana’s combination of strong technical analysis, positive on-chain metrics, and favorable external factors positions it for a potential breakout. However, it’s crucial to remember that the cryptocurrency market is inherently volatile.
While the current outlook is bullish, it’s essential to exercise caution and conduct thorough research before making investment decisions. Stay updated on market trends, regulatory developments, and technical analysis to navigate the dynamic world of cryptocurrencies.
For those of you who are interested in investing in crypto, you can do in-depth research first so you know what strategy to apply. If your research is thorough, you can get maximum benefits from investing.
Bitrue has many features that can help you do research before buying a crypto coin. Starting from checking coin prices to converting from token price to USD, you can also do it easily on the Bitrue website.
by Penny Angeles-Tan | Nov 15, 2024 | Events
On November 6, 2024, The Manila Hotel officially welcomed the holiday season with an eagerly anticipated Christmas Tree Lighting Ceremony. The Grand Dame sparkled with renewed grandeur, marking the beginning of the season in timeless style.
A Festive Celebration of Filipino Heritage
Each year, the hotel’s grand lobby transforms into the heart of Manila’s Christmas festivities, with a towering Christmas tree adorned in sparkling ornaments and twinkling lights taking center stage.
This year, guests are invited to a uniquely Filipino holiday celebration with the theme of Pasko Natin! – a heartfelt tribute to the Philippines’ rich cultural heritage infused with the warmth of the season.
The elegant décor is the creation of The Manila Hotel’s Social Director and Design Consultant, Rachy Cuna, who has masterfully incorporated salakot, a traditional Filipino headgear, and native materials. This design showcases Filipino artistry, creating a memorable Filipino Christmas experience that honors tradition while embracing the season’s joy.
Distinguished Guests and a Heartwarming Ceremony
Distinguished guests, including The Manila Hotel chairman Basilio C. Yap and The Manila Hotel president graced the festivities. Atty, Jose D. Lina, Jr., The Manila Hotel director and executive vice president Dr. Enrique Y. Yap, Jr., The Manila Hotel vice president for sales and marketing Marvin Kim Tan, The Manila Bulletin publisher Herminio ‘Sonny’ Coloma, Ambassador of Israel Ilan Fluss, Minister of Taipei Economic and Cultural Office in the Philippines deputy representative Dustin Teng-Shi Yang, Bb. Pilipinas International 2024 Myrna Esguerra, and officers of the Philippine Association of Wedding Planners.
Representatives from event sponsor Esguerra Kurobuta also joined the festivities. Guests were treated to a selection of premium Kurobuta Berkshire products, specially prepared and presented in a truly spectacular fashion — by a grand waiters’ parade.
Adding to the celebration, the Office of the President Chorale, under the musical direction of Professor Ronald Y. Bello, an alumnus of the Philippine Madrigal Singers, serenaded guests with classic Christmas carols, filling the lobby with the melodies of the season.
“Our Christmas Tree becomes more than just a decoration each year—it becomes the heart of the city’s holiday gatherings,” said Atty. Joey D. Lina, Jr., president of The Manila Hotel. “At The Manila Hotel, we are proud to make the holidays seamless for our guests, from our festive hampers to our grand lobby décor, creating a true home away from home for the season.”
A Day of Celebration and Community Spirit
The annual Christmas Tree Lighting Ceremony, a symbol of hope and peace, was further enriched by the performance of children from The House of Refuge Foundation, who performed song and dance numbers. The foundation is a long-time partner of The Manila Hotel, dedicated to providing shelter and support for street children. This partnership reflects the hotel’s commitment to social responsibility and community engagement, playing a vital role in shaping brighter futures for these young individuals.
Beyond the visual splendor, the hotel’s Christmas decorations embody the rich heritage and timeless charm of The Manila Hotel, serving as a symbol of true Filipino hospitality. With its festive ambiance, The Manila Hotel remains a cherished holiday destination for Manileños and visitors alike.
The Manila Hotel is located beside kilometer zero (0), where the City of Manila begins, and is within walking distance from the Philippines’ known landmarks: Rizal Park, Intramuros, and National Museums. Defined by its history, elegance, and world-class service, The Manila Hotel is the choice hotel for the most distinguished clientele.
Since 1912, The Manila Hotel has continuously provided the best services and amenities for a truly memorable experience.
It has more than 500 well-appointed rooms and 22 function rooms, including three (3) ballrooms. Apart from these, the hotel offers five-star relaxation and wellness experiences with the Manila Hotel Spa, adult and children’s pools, and the Manila Hotel Health Club.
The hotel is home to the Heritage Museum, a treasure trove of priceless memories that narrate its illustrious past. It also has an Art Gallery that offers a window into a contemporary world, captured through the objective point of view of different artists. It has six (6) dining outlets, each offering a unique culinary adventure:
- Café Ilang-Ilang, which is a favorite spot for its extensive selection of international buffet delights;
- Champagne Room, with its Old European style fine dining and also hailed as the most romantic room in Manila — it features European cuisine in a posh, fine-dining setting;
- Tap Room, an Old English pub-inspired outlet where one can enjoy an evening of live music;
- Lobby Lounge, which is ideal for casual dining, aperitif, post-dinner nightcaps, or leisure meetings;
- Red Jade is a fine-dining restaurant that serves authentic Chinese cuisine;
- and Delicatessen offers the hotel’s signature pastries, bread, chocolates, and pralines.
by Penny Angeles-Tan | Nov 15, 2024 | Health and Wellness
Manila Prince Hotel proudly announces the grand opening of its brand-new Fitness Center, a modern facility located in the Lower Lobby of the hotel. The opening was celebrated with a ribbon-cutting ceremony on Friday, November 8, 2024.
The event was led by Atty. Joey Lina, the president of Manila Prince Hotel. He was joined by Elaine Santos, vice president for administration; Marvin Kim Tan, vice president for sales and marketing; and Riza Shanti Lim, a renowned fitness expert and wellness advocate.
The Fitness Center reflects the hotel’s commitment to enhancing the experience of its guests. Although it is compact, it is equipped with modern technology and offers nearly 100 workouts and exercises suitable for all fitness levels. The facility features a variety of Life Fitness equipment, including an Abdominal Machine, Bench Press, Biceps Curls Machine, Chest Press Machine, Dumbbells, Fly Machine, Lat Pulldown Machine, Leg Extension Machine, Medicine Balls, Row/Rear Deltoid Machine, Shoulder Press Machine, Squat Rack, and Treadmills.
“Manila Prince Hotel has always been a symbol of hospitality. Our goal is to create a space where guests can achieve their fitness goals and improve their overall well-being during their stay with us,” said Atty. Lina.
The Fitness Center operates daily from 6:00 AM to 10:00 PM and offers complimentary access for checked-in guests. It includes secure locker rooms with convenient changing facilities for added comfort. Guests can enjoy complimentary detox water and towels during their visit, ensuring a refreshing and enjoyable fitness experience.
We invite you to experience our new Fitness Center and take a step toward a healthier lifestyle during your stay at Manila Prince Hotel. For inquiries or to book your stay, please call +632 5328 2222 or email **@**********ce.com.
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