Riding The Wave News Summary 219

Bitcoin might correct after hitting $50k; AI altcoin attracts investors, Winklevoss twins donate $4.9M to crypto super PAC Fairshake, & more.

Feb 22, 2024

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https://twitter.com/WhaleFUD/status/1759551606591193334

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https://twitter.com/BTC_Archive/status/1759986449997341050

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Bitcoin might correct after hitting $50k; AI altcoin attracts investors

The recent surge of Bitcoin (BTC) to $50,000 has caused excitement and, at the same time, caution among investors and fans. However, with this achievement, a fear of a prompt correction from the market arises. At the same time, a promising AI altcoin, Borroe Finance (ROE), is attracting investors and emerging as a substitute for Bitcoin’s monopoly.
Bitcoin’s surge to $52,000
Analysts have been pondering the chance of Bitcoin facing a correction after hitting $50,000, an achievement not recorded since December 2021.
They give several reasons for the surge of Bitcoin to $52,000. First, expectations of interest rate cuts derived from analysts and financial market speculations suggest possible rate reductions commencing May this year.
Further, the decision by the U.S. Securities and Exchange Commission (SEC) to approve the first U.S. spot Bitcoin exchange-traded funds (ETFs) in January has also resulted in increased inflows of capital.

Full Article

Winklevoss twins donate $4.9M to crypto super PAC Fairshake

Tyler and Cameron Winklevoss have donated $4.9 million to the crypto-focused Fairshake super political action committee (PAC) to support crypto-friendly candidates in the upcoming United States elections.
According to data from the U.S. Federal Election Committee (FEC) and Fairshake’s latest federal filings on Feb. 20, the Winklevoss twins each donated $2.45 million to the super PAC.
Additionally, Fairshake reported having $72.8 million in cash on hand at the end of the reporting period.
Fairshake’s largest donors in 2024 include Payward — operating as the Kraken crypto exchange — which donated $750,000 on Jan. 12, and Electric Capital Partners, which donated $500,000 on Jan. 26, according to the documents.

Many within the crypto industry view Fairshake as a critical player heading into the 2024 U.S. election, as the crypto industry faces increased scrutiny from lawmakers and regulators following a slew of high-profile collapses in the last 18 months.
Fairshake aims to fight the over-regulation of the industry by backing crypto-friendly candidates from both sides of the political aisle in the United States.
On Feb. 13, a political advertising tracker revealed that Fairshake had spent $3.6 million opposing anti-crypto California Senate candidate Katie Porter, its biggest outlay to influence an election so far.
On Feb. 18, crypto critic Senator Elizabeth Warren said that super PACs could “spend any amount of money needed” to attempt to stop her Senate run.

Full Article

‘Flood of money’ from crypto Super PACs could fund potential challenger to Elizabeth Warren

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