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Analyst Warns Hedge Funds Shorting MicroStrategy Could Trigger Bitcoin Crash | EVM News

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US economist Peter Schiff claimed that Bitcoin is on the verge of a big collapse.

Peter Schiff, a well-known critic of Bitcoin, usually faces backlash from the crypto community for mentioning “Bitcoin” in his tweets. Despite his usual stance of criticising the cryptocurrency, Schiff’s use of the “Bitcoin” term sparked significant disapproval from crypto enthusiasts a few weeks ago but again he started using Bitcoin & Crypto words in his tweet posts to get attention.

On 17 June 2024, Peter Schiff speculated on the potential impact of hedge funds shorting MicroStrategy (MSTR) by buying Bitcoin or Bitcoin ETFs. 

He suggested that if MSTR’s stock price falls, these funds might sell off their Bitcoin holdings to cover their short positions, which could trigger a significant drop in Bitcoin’s price. This, in turn, would create additional downward pressure on MSTR’s stock, even as the short positions are being closed. 

Furthermore he directed this concern to the former MicroStrategy’s CEO, Michael Saylor, indicating that such a scenario could have a cascading effect on both the company’s stock and the cryptocurrency market.

Before this tweet, Schiff also posted a tweet about Bitcoin price under the current situation.

Schiff raised a question that why Bitcoin’s price has remained stagnant despite substantial buying from 11 Bitcoin spot ETFs over the past three months. 

He noted that Bitcoin’s trade current price is 11% below its March high and wondered who might be selling if ETF investors have been buying.

 Also he raises concerns about what might happen if these ETF investors lose patience and start selling their holdings, potentially driving prices even lower.

Bitcoin price action 

The current trade price of Bitcoin (BTC) is $66,000 & this trade price is 5.5% down over the last 7 days period.

Read also: Malaysian Authorities Declare War Against Crypto Tax Evaders




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Donald Trump Champions Bitcoin: Calls For Bitcoin As Strategic Reserve Asset | EVM News

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Former President Donald Trump has expressed strong support for Bitcoin, suggesting it should be considered a strategic reserve asset. He warned that restricting Bitcoin’s growth would benefit China and Russia.

Donald Trump, the 45th President of the United States, is known for his outspoken views on a wide range of topics. Historically, Trump has been skeptical of Bitcoin and cryptocurrencies, labeling them as volatile and potentially fraudulent. However, his recent endorsement of Bitcoin as a strategic reserve asset marks a significant shift in his stance, highlighting the evolving perception of digital currencies in the global financial landscape.

Former President Donald Trump has again shown strong support for Bitcoin. He said that Bitcoin could be considered a strategic reserve asset, according to a Forbes report.

Sam Lyman, the policy director of top bitcoin mining firm Riot, responded to this recent stance of Trump & said that Trump acknowledged Bitcoin’s geopolitical significance and warned that policies hindering its growth would benefit China and Russia.

Trump’s endorsement positions him as the first major political party nominee to embrace Bitcoin in the USA, likely aiming to gain support from cryptocurrency enthusiasts in the upcoming US presidential election. This move highlights his recognition of Bitcoin as a strategic reserve asset and seeks to appeal to the growing community of crypto supporters.

Cynthia Lummis’s support for Bitcoin 

The US Senator Cynthia Lummis from Wyoming, known as the “Crypto Queen” of Congress, has recently suggested that the Federal Reserve diversify its foreign currency holdings by adding Bitcoin to its balance sheet. Lummis believes Bitcoin is an excellent store of value and advocates for the government to diversify its investments to include the cryptocurrency.

These days, Cynthia is planning to appear at a major Bitcoin-focused event to share her thoughts on the future of Bitcoin adoption in the US under the new crypto bill.

Read also: Ethereum Surges 100% Against Bitcoin in Annual Revenue from Transaction Fees




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E Money Network Launches $2 MILLION RWA Grant Program To Spearhead RWA Ecosystem | EVM News

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Bengaluru, India, July 3rd, 2024, Chainwire

E Money Network, a modular RWA blockchain, has launched the biggest RWA grant program in the crypto space, totaling $2 million, to enable RWA projects to build on their blockchain and accelerate the development of the RWA economy. 

E Money Network’s Architecture Unlocks a World of Possibilities

E Money Network is an L1 blockchain that acts as a foundational network for building RWA projects. Apart from a developer-friendly SDK for customized features, it also has standard ready-made modules such as KYC verified onboarding, banking, staking, governance and more that can be incorporated directly into applications. The E Money Network supports interoperability with Inter-Blockchain Communication (IBC), allowing the development of applications that can communicate with other IBC-compatible blockchains. 

E Money Network has built-in compliance modules including Know Your Customer (KYC), Know Your Ownership (KYB) and Know Your Transaction (KYT) to enable adherence to the upcoming Markets in Crypto Assets (MiCA) regulations. These features ensure that every entity and transaction in an application built on the E Money Network is also MiCA compliant by default. 

Objectives of the Grant Program 

As a part of its #BUIDLonEMN initiative, E Money Network invites developer teams with disruptive RWA-centric ideas to build on the E Money Network and bring innovative solutions to life. Applicants can submit Requests for Proposals (RFPs) detailing their ideas for RWA applications . Its $2 million grant pool will be distributed as initial capital among eligible projects.

E Money Network’s CEO Raj Bagadi quoted “RWA ecosystem is in its nascent stages, and building the RWA ecosystem with numerable RWA-specific applications will help in shaping E Money Network’s trajectory and spearheading new advancements for the wider RWA ecosystem. Hence, we are launching the biggest grant program to enable the next generation of entrepreneurs seeking to rebuild the financial markets with RWA applications.”

Evaluation Criteria for Winning Grants

A group of technology experts, marketing professionals and experienced community members will form the selection committee for reviewing grant applications. Applications to the grant program will be evaluated on the basis of the following criteria –

  1. The project’s objective and scope
  2. The anticipated impact of the project
  3. The project’s milestones and KPIs
  4. Expected budget
  5. Team details including roles, responsibilities and prior experience of each team member
  6. Product roadmap

Each proposal must include at least three milestones with measurable KPIs such as user growth, TVL increase, transaction volume, etc. 

Depending on the afore-mentioned factors, projects can become eligible to win grants ranging from $5000 to $50000 based on requirements and scale of the product. Additionally, E Money Network will also provide winners of the grant program access to mentorship from industry experts, legal and compliance support, marketing and growth support, networking opportunities with other RWA projects and E Money Network’s core developers. 

How to Apply

Interested developers and builders can join the #BUIDLonEMN initiative by filling out the grant application form here and joining E Money Network’s grant channel on Discord. After the submission of the application, the selection committee will evaluate the project. Successful applications to the grant program will be notified along with further instructions. 

About E Money Network

E Money Network is the regulated Modular RWA blockchain. It serves as an L1 blockchain designed for seamless interoperability between DeFi 2.0 and RWA tokenisation, effectively establishing a network that aims to bridge the liquidity divide between Web 2.0 and Web 3.0.

For more information users can visit: X | LinkedIn | Blogs | Whitepaper  

For media queries, users can contact: marketing@emoney.network

Contact

Head of Marketing & Branding
Shivangini Agarwal
E Money Network
marketing@emoney.network




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Transforming Online Gambling And Community Engagement: Mpeppe (MPEPE) Unveils Strategic Innovations | EVM News

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Frankfurt, Germany, July 2nd, 2024, Chainwire

Mpeppe (MPEPE) is emerging as a transformative force, poised to redefine online gambling and community engagement. By going beyond mere financial transactions, Mpeppe (MPEPE) aims to build a vibrant, creative, and globally impactful community. This ambitious project embraces the spirit of soccer and integrates decentralized finance (DeFi) elements, driving positive change and creation through strategic community planning.

Mpeppe (MPEPE) in Online Gambling

Meme cryptocurrencies, known for their playful branding and viral marketing, have significantly influenced the online gambling sector. Mpeppe (MPEPE) stands out in this space for several compelling reasons:

  • Market Dynamics: The inherent volatility of Mpeppe (MPEPE) can create an engaging experience, drawing interest from those who are accustomed to the fluctuating nature of traditional gambling.
  • Viral Influence: Utilizing memes and internet culture, Mpeppe (MPEPE) engages audiences beyond typical cryptocurrency markets, increasing visibility and interest in online gambling platforms.
  • Reward Mechanisms: The Mpeppe (MPEPE) Casino offers an engaging gaming experience by utilizing $MPEPE and other cryptocurrencies for timely rewards, setting it apart from traditional online casinos.

Mpeppe (MPEPE) and DeFi: A Powerful Synergy

At the forefront of innovation, Mpeppe (MPEPE) is integrating DeFi protocols into its ecosystem, significantly enhancing its utility. Key features of this integration include:

  • Yield Farming and Liquidity Mining: Mpeppe (MPEPE) allows users with the chance to earn rewards through liquidity provision and farming activities, fostering an active community and incentivizing participation.
  • Decentralized Governance: empowers its community with decentralized governance mechanisms. This enables members to have a say in the project’s direction and development, promoting a sense of ownership and collaboration. The community-driven approach ensures that the interests of all stakeholders are considered, fostering a more inclusive and democratic environment.
  • Comprehensive Financial Services: Mpeppe (MPEPE) Integrating DeFi protocols allows Mpeppe (MPEPE) to offer a wide range of financial services such as lending, borrowing, trading, and yield farming without traditional intermediaries. Mpeppe (MPEPE) demonstrates the potential of DeFi to innovate within the financial sector.

Building a Global Community

Mpeppe (MPEPE) is a meme coin that aims to create a global community that celebrates creativity, soccer spirit, and real-world impact. It aligns its values with community interests, aiming to build a sustainable ecosystem. The project’s focus on soccer resonates with a global audience, creating camaraderie and shared purpose. This unique approach distinguishes Mpeppe (MPEPE) from other meme coins.

Join the Mpeppe (MPEPE) Movement

As Mpeppe (MPEPE) continues to grow and innovate, it invites individuals and investors to join its movement and be part of a community that values creativity, positive change, and creation. With its unique blend of meme culture, online gambling excitement, and DeFi integration, Mpeppe (MPEPE) is set to revolutionize the future of online gambling and community engagement.

About Mpeppe (MPEPE)

Mpeppe (MPEPE) is a meme cryptocurrency aiming to create a global community through strategic community planning. It integrates decentralized finance protocols and soccer spirit, driving positive change and creation. Mpeppe is a visionary project that combines online gambling excitement with DeFi innovation, fostering a global community united by soccer and a commitment to positive change.

For more information on the Mpeppe (MPEPE) Presale, users can visit Mpeppe (MPEPE) and join the community on Telegram | Twitter.

Users can use promo code $MPEPPE to get a 15% bonus.

Mpeppe (MPEPE) is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Contact

Marketing Team
Chris P
Mpeppe.io
team@mpeppe.io


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