Bankless ROLLUP: BTC ETF Rumors | Uniswap Fee Switch | SBF Trial Continued
Oct 20, 2023
Discover the chaos from a false Bitcoin ETF approval rumor that rattled the market. Uncover the astonishing story of Bitcoin billionaire Jimmy Zong, whose hidden fortune was revealed by the FBI. Explore Uniswap's new trading fee and its governance implications, along with a deep dive into the ongoing Sam Bankman-Fried trial. Dive into the rising influence of stablecoins and the evolving landscape of cryptocurrency amidst global economic challenges. Plus, hear about the recovery of $3.6 billion in Bitcoin tied to the infamous Silk Road hack!
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Bitcoin's Rollercoaster
- Bitcoin saw a 7.5% gain this week, reaching nearly $29,000.
- This surge was partly due to a false report of a spot Bitcoin ETF approval.
Two Wars Affordable?
- US Treasury Secretary Janet Yellen claims the US can afford to support both the war in Ukraine and aid to Israel.
- This raises concerns about the politicization of the US dollar and its potential inflationary impact.
War and Inflation
- War is inherently inflationary due to the destruction of capital and subsequent rebuilding costs.
- These costs are typically financed through inflation, as seen in historical examples like World Wars I and II.