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Ethereum Founder Vitalik Liquidates 2.09M STRK Tokens on Binance After $714K Loss

Abdulkarim Abdulwahab
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Ethereum Founder Vitalik Liquidates 2.09M STRK Tokens on Binance After $714K Loss

Ethereum co-founder Vitalik Buterin has raised eyebrows in the crypto community as a wallet associated with him initiated the transfer of 2.09 million STRK tokens to the Binance exchange.

This transaction took place in two parts: the first, involving 97,152 STRK tokens, occurred just five hours ago, followed by a second transfer of 2 million STRK tokens three hours later. Both transactions moved the assets to Binance, the world’s largest cryptocurrency exchange.

Collectively, the tokens Buterin has offloaded are worth about $799,000. The timing of the transaction has triggered curiosity among market observers.

Vitalik Buterin wallet transactions with STRK
Vitalik Buterin wallet transactions with STRK

Buterin Suffers Massive Loss from Holding STRK

According to Onchain Lens, Buterin had received these STRK tokens over the last five months, with an initial value of $1.51 million. With the current market value of STRK approximately 50% lower than this original amount, Buterin is facing an unrealized loss of around $714,000 from his STRK holdings.

This massive loss is due in part to STRK’s disappointing price performance since its launch earlier this year. After peaking at an all-time high of $3.66 in February, the token is now trading at $0.3795—down by a staggering 90%. During this period, STRK even hit an all-time low of $0.32 in August.

StarkNet in massive downtrend
StarkNet in a massive downtrend

Interestingly, following the recent surge in the crypto market, driven by Bitcoin’s historic peak, Buterin appears to be trying to cut his losses by transferring his STRK tokens to Binance, especially as the token has posted a more than 10% gain today.

Following this latest transaction, Onchain Lens noted that Buterin continues to hold 15,862 STRK tokens worth approximately $6,000.

Vitalik Buterin’s Relationship with StarkNet

StarkNet is a promising zero-knowledge rollup project that has garnered significant attention as Ethereum’s community seeks ways to enhance transaction speeds and reduce costs on the network.

Buterin’s involvement with StarkNet dates back to its early days. He initially invested in the project during its seed round in May 2018, which raised $6 million. This move underscored his interest in supporting Layer 2 scaling solutions for Ethereum. In a subsequent funding round in July 2018, which raised $12 million, the Ethereum Foundation took the lead.

Coinbase CLO Addresses SEC Adverse Crypto Regulation Using US Election Outcome

Lele Jima
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Coinbase CLO Addresses SEC Adverse Crypto Regulation Using US Election Outcome

Coinbase CLO Paul Grewal references the outcome of the United States election to address the SEC’s adverse approach to crypto regulation. 

Grewal, the Chief Legal Officer at San Francisco-based exchange Coinbase, mentioned that voters in the United States expressed a strong desire for change on several issues, including crypto regulations.

He encouraged the SEC to change its current crypto regulatory approach to a more favorable stance. Specifically, Grewal called on the SEC to engage directly with crypto-related companies instead of suing them in court. Furthermore, Grewal advised the regulator to initiate rulemaking immediately, which could provide clear regulations for the crypto industry. 

Over 200 Pro-Crypto Candidates Win 

Grewal’s comment is in reaction to the election outcome, which saw voters come out to change the status quo. Prior to the election, crypto enthusiasts expressed support for only pro-crypto candidates across various offices, including the presidency. 

Earlier today, The Crypto Basic reported that about 238 pro-crypto candidates led the charge in the U.S. Congress elections. While 224 were elected to the House of Representatives, 14 are heading to the Senate. 

For many crypto fans, the most exciting part of the U.S. 2024 election outcome is Donald Trump’s emergence as president-elect.

Trump’s support for the industry is public knowledge, as he has consistently revealed how he plans to make America the ‘crypto capital of the world.’ Part of his campaign promises for crypto includes firing SEC Chair Gary Gensler on his first day in office. 

SEC Operations Under Gensler

Many industry stakeholders see Gensler as a major threat to crypto. Under his leadership, the SEC has been aggressive, pursuing multiple enforcement actions against crypto companies. 

Coinbase is one of the victims of the Gensler-led SEC enforcement action. Last year, the SEC charged Coinbase with violating federal securities laws by operating as an unregistered exchange. 

A federal judge denied the exchange’s request for an early dismissal of the SEC charges in March. The lawsuit could see a major twist in the coming weeks when the more than 200 pro-crypto candidates are sworn into office, coupled with a potentially new SEC administration. 

Currently, there is speculation that the new SEC administration might review and possibly drop most of the lawsuits against the industry. Whether this would become a reality remains to be seen. 

Ripple CEO Asks Trump To Fire Gensler on Day 1 and Give Ethereum Regulatory Clarity like XRP

Sam Wisdom Raphael
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Ripple CEO Asks Trump To Fire Gensler on Day 1 and Give Ethereum Regulatory Clarity like XRP

Brad Garlinghouse, the Ripple CEO, has outlined several crypto-friendly policies that President-elect Donald Trump should advance in his first 100 days.

The 2024 U.S. presidential election has concluded with Republican candidate Donald Trump emerging as the victor. Trump captured 277 electoral votes and received 71.2 million votes in total, translating to 51% of the popular vote. 

Meanwhile, Democratic candidate Kamala Harris garnered 224 electoral votes and accumulated 66.28 million votes, representing 47.5% of the total. 

Amid Trump’s early lead, the crypto market experienced a surge, with Bitcoin (BTC) reaching a record-breaking high of over $75,000 earlier in the morning. Though BTC has since retreated slightly, it remains steady above the $74,000 mark.

Ripple CEO Presents 100-Day Demands for Trump

Amid the election’s impact on cryptocurrency markets, Ripple CEO Brad Garlinghouse has outlined what he sees as critical steps Trump should prioritize to strengthen the U.S. cryptocurrency industry in his first 100 days in office. 

Garlinghouse, a long-time advocate for clearer crypto regulations partly due to Ripple’s years-long battle with the U.S. Securities and Exchange Commission (SEC), called on Trump to make leadership changes at the SEC, especially regarding SEC Chair Gary Gensler.

Garlinghouse has urged Trump to dismiss Gensler on day one, advocating for the SEC to be led by figures who are more receptive to pro-crypto policy. Recall that Trump presented this as one of his campaign policies, noting during the Bitcoin 2024 Conference that he would fire Gensler on day 1 as president.

Among Garlinghouse’s suggestions for Gensler’s replacement, he mentioned Christopher Giancarlo, a former chairman of the Commodity Futures Trading Commission (CFTC), Brian Brooks, former Acting Comptroller of the Currency, and Dan Gallagher, a former SEC commissioner. 

Regulatory Clarity is Paramount

Besides leadership changes at the SEC, Garlinghouse is pushing for bipartisan legislative cooperation to advance a comprehensive digital asset market structure bill. The bill could address regulatory gaps and provide clarity for the local crypto industry. 

Another point on Garlinghouse’s list is clarification around asset classifications. He stressed the need for Trump’s administration to define key cryptocurrencies such as Ethereum (ETH), much like the clarity XRP and BTC have received. 

Such regulatory transparency would address whether ETH should be classified as a security, which remains a divisive topic within the industry. Despite the SEC approving Ethereum ETFs, the regulatory agency has not publicly declared that ETH is not a security. 

Notably, Trump’s campaign included promises to bring clarity to the cryptocurrency sector, retain the government’s Bitcoin holdings, and prevent the introduction of a central bank digital currency (CBDC).

Market Expert Says Dogecoin Could Surge 11,486% to $23 on Elon Musk’s Influence

Elendu Benedict
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Market Expert Says Dogecoin Could Surge 11,486% to $23 on Elon Musk’s Influence

Market analyst Ali Martinez has expressed confidence in an explosive Dogecoin upsurge to double figures, citing Elon Musk’s influence and historical trends.

Dogecoin has been on an impressive run in the weeks leading to the just-concluded US presidential elections. For context, the leading meme coin has respectively surged 17.62%, 17%, and a staggering 79% in the past day, week, and month.

The upsurge saw it briefly topple notable cryptocurrency XRP to temporarily rank 7th in the market cap rankings. However, DOGE has returned to eighth place, with a valuation of $29 billion at press time.

Meanwhile, general market consensus believes that Dogecoin’s impressive outing is tied to Elon Musk’s close ties to US president-elect Donald Trump. The Tesla CEO played a crucial part in Trump’s reelection, with the X owner agreeing to participate in the president’s new governance in a capacity he has teased as the D.O.G.E. (Department of Government Efficiency).

Analyst Expects Musk’s Influence to Continue DOGE Push

In a November 6 tweet, Martinez asserted that the Musk-DOGE romance would continue to spur the meme coin’s explosive run. Notably, the SpaceX founder has not hidden his love for the original meme coin, stating he is fond of the token due to its funny memes and dog jokes.

Martinez insisted that Musk’s pronounced participation in Trump’s reelection would continue to drive Dogecoin to new highs. In his words, Dogecoin “could be primed for a wild ride” on Musk’s influence.

Meanwhile, market veteran Peter Brandt agrees with Martinez’s speculations, stating “in Musk we trust.” Brandt acknowledged the X owner’s influence in Dogecoin’s recent run and noted that it has spurred the leading meme coin past a crucial price structure.

In a Wednesday tweet, Brandt stated that Dogecoin has confirmed a breakout from a channel on its 1W timeframe after the surge to over $0.2 today. With the affirmation, Brandt asserted that the dog-themed token is on its way to bullish price accumulations and a new all-time high.

Martinez Gives Targets for Dogecoin

The market expert stated that Dogecoin would hit $4 and $23 if bullish momentum continues and history repeats itself. Martinez cited historical price action, evident in the past two cycles, to back up his assertion.

According to the analysis, Dogecoin surges to Fib. 1.618 or even 2.272 every time it breaches the 50% retracement zone. An accompanying chart shows that DOGE followed this price action in the 2017 and 2021 bull cycles.

Dogecoin Analysis per Ali Martinez
Dogecoin Analysis per Ali Martinez

Martinez argued that a similar pattern could repeat this cycle as Dogecoin has breached the 0.50 Fibonacci level with the surge past $0.1905 to above $0.2000. The expert noted that the 1.618 and 2.272 retracement zones lie at $4 and $23, and DOGE could be on its way to a 1,915% and 11,486% bullish upsurge.

Meanwhile, Wednesday’s analysis is one of the many ambitious predictions Martinez has made about Dogecoin. Earlier, he predicted a lofty 8,032% uptick to $10, citing a continuation in its rising wedge price pattern.

In the meantime, Dogecoin trades at $0.1985, down 6.8% from its daily high of $0.2121. Interestingly, DOGE remains 73% away from its all-time high of $0.7376, attained in May 2021.

Top Crypto YouTuber Sells His Lamborghini to Buy XRP

Abdulkarim Abdulwahab
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Top Crypto YouTuber Sells His Lamborghini to Buy XRP

Myles G, a widely followed crypto trader with 150K YouTube subscribers, has publicly disclosed that he sold his Lamborghini to make fresh investments in XRP.

Myles mentioned this in a post on Tuesday on X (formerly Twitter). However, the market pundit did not provide specific details regarding the sale of his exotic car, including the amount it was sold for or whether all proceeds were directed toward XRP.

There is also no confirmation on whether the sale actually took place or if he was joking.

Given the lack of details, community members are pressing for more information, asking him to share a receipt or the specifics of the XRP transaction.

The tweet was accompanied by a picture of a sleek Lamborghini Huracán Spyder parked in a lot, but no other information was provided.

While skepticism surrounds Myles’ latest disclosure, his bold claims about XRP investments are not new. Just six days ago, he disclosed that he had sold his kidney on the dark web to acquire more XRP and Dogecoin—a statement that also raised eyebrows.

Liquidates Home Property for $800K to Buy XRP

In a separate story from February, Myles shared an intriguing account about his father’s bold investment move in XRP. According to Myles, his father traded his home for $800,000 and used the entire sum to buy XRP.

Myles also highlighted his father’s extensive experience in investing, noting that the senior trader has been active in the markets for over 50 years. The decision to liquidate real estate for XRP was described by his father as the most significant “home run” of his career.

When asked if the story was genuine, Myles confirmed it was true.

Bold XRP Targets

Given his strong conviction in XRP, Myles has repeatedly shared ambitious price targets for the cryptocurrency. In the short term, he is forecasting XRP will reach $1.96 and $2.84.

He has even predicted that XRP will reclaim $3 by December—specifically during Christmas. In the longer term, Myles has set his sights on a price of $589 for XRP by 2030. However, this remains highly speculative.

Binance Research Reveals 97% of Memecoins Are Dead

Elendu Benedict
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Binance Research Reveals 97% of Memecoins Are Dead

A November research conducted by the Binance Research team disclosed that a staggering 97% of meme coins deployed into the crypto market are literally dead.

Meme coins, an integral part of the cryptocurrency sector, have gained popularity due to their community-driven, intense price swing features. These tokens have become an alternative investment for quick returns and adventurous liquidity, engaging a wide range of investors.

A report from Binance Research, headed by Joshua Wong, discussed the dynamic role meme coins play in the crypto industry and how the sector can survive the emerging mainstream curve digital assets are taking. The report further disclosed the current state of the joke-driven industry, including some shocking data and analyses.

Research Shows Memecoin Deployment Has Surged Extensively

The recently released report reveals that the rate of meme coin deployment into the crypto market has surged exponentially in the past year. Per the data, 75% of meme coins with non-zero trading volumes in the market were created between 2023 and 2024.

Notably, the trend is understandable following the development of protocols that make meme coin creation and deployment easy. For context, platforms like Solana’s Pump.fun, Tron’s SunPump, and Cardano’s Snek. fun was introduced this year, making meme token creation stress-free and cheap for intending users.

Memecoin Deployment Chart
Memecoin Deployment Chart

However, as creation and deployment became more straightforward, the sector became saturated with bad actors and unneeded tokens, with each creator angling for traction among the crypto community. Notably, the report shows that the survival rate of meme coins has dropped drastically, as they are unable to stand the test of time.

According to the report, 97% of meme coins are dead. Notably, dead in this context means they have $0 in trading volume. The report shows that only the top two meme coins by market cap, Dogecoin, and Shiba Inu, have sustainably maintained traction in their 10 and 4 years of existence, respectively.

Growing Meme Cabals and Scams

The Binance researchers also uncovered a disturbing trend in the meme sector: the growth of “cabals.” The report referred to cabals as groups that create pump-and-dump tokens and use retail as exit liquidity.

While blockchain technology allows you to see token concentrations and on-chain activities, it is still impossible to determine who owns an address. Hence, exploiters could still create meme coins, promote them across social media platforms, and sell their liquidity provider or a large chunk of the minted token when they gain traction.

This trend has recently been seen among meme coins. For context, the WALDO token creator leveraged Cardano founder Charles Hoskinson’s mention to rug-pull investors of thousands of dollars. Also, famous footballer Kylian Mbappe’s X account was compromised and used to promote a Solana-based meme coin, MBAPPE. While investors flocked to the tokens, the creators dumped them and made off with substantial gains.

Research Shares Future Outlook for Memecoins

Meanwhile, Binance researchers noted that meme coins will continue to thrive in the industry. However, the next generation of successful memes would have to create tokens with “unique narratives and ideas that have long-term appeal” to their users.

This point proves valid, as tokens that moved past the long-standing dog-themed narratives to other niches gained immense traction. For instance, Pepecoin and POPCAT created monkey-themed and feline-themed narratives, surging significantly upon their market debut.

Furthermore, the reports disclosed that enhancing meme coin use cases would ensure their long-term relevance. The researchers encouraged the creation of memes with innovative technologies and ideological advancement so that the hype around the token would outlast short-term trends and traction.

Trump’s Election Win Fuels SUI Rally, Eyes $3 for New ATH

Albert Brown
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Trump’s Election Win Fuels SUI Rally, Eyes $3 for New ATH

With a 14.27% surge, SUI surpasses the $2.20 level and is eyeing an extension toward $3 for a new all-time high.

The SUI crypto asset is trading at $2.29, with an intraday surge of over 14%. This significant bullish recovery aligns with the broader market rally triggered by Donald Trump’s victory in the U.S. Presidential elections.

Will the extended rally in the altcoins drive SUI prices to a new all-time high? Let’s find out.

SUI Price Rally Eyes a New All-time High

Over the past few days, SUI has seen a 24.79% increase after two consecutive bullish candles on the daily chart. Additionally, with the SUI token reclaiming the key psychological $2 mark, it has also broken above the $2.18 level, which corresponds to the 100% Fibonacci retracement.

SUI price chart
SUI price chart

The rally suggests that buyers are positioning for further gains, targeting a move beyond $2.3661 to set a new all-time high. The bulls are firmly in control, as indicated by a positive crossover in both the MACD and signal lines.

Moreover, the recent pullback to the 78.60% Fibonacci retracement level at $1.6147 found solid support from the 50-day Simple Moving Average (SMA). With strong underlying demand, SUI appears poised to continue its upward momentum, with the next target being the psychological $3 mark.

Based on Fibonacci projections, the uptrend could extend toward the 1.272 and 1.618 levels, which correspond to price targets of $3.19 and $5.20, respectively.

Will SUI Price Cross $3?

Also, looking at the 4-hour chart, SUI price action is gaining momentum following a breakout from a flag pattern. However, using trend-based Fibonacci retracement levels on the shorter-term chart, the altcoin faces resistance at the 38.20% level around $2.3854.

SUI price chart
SUI price chart

At present, the 4-hour candle is forming a doji pattern, which suggests a potential minor retest of the high-volume zone between $2.15 and $2.18.

After this retest, a bounce could propel SUI toward the next key resistance levels at the 50% and 78.60% Fibonacci levels, which are located at $2.68 and $3.56, respectively.

On the downside, a pullback to the psychological $2 level could also be a potential retest before the rally resumes.

Senator Elizabeth Warren Defeats Crypto-Friendly Republican Nominee John Deaton

Elendu Benedict
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Senator Elizabeth Warren Defeats Crypto-Friendly Republican Nominee John Deaton

Famous crypto antagonist Senator Elizabeth Warren has defeated Republican candidate John Deaton to win a reelection bid in Massachusetts.

The crypto community would still have one to worry about after famous crypto critic Elizabeth Warren defeated pro-crypto candidate John Deaton to win her third term reelection as Massachusetts senator. Multiple sources, including the Associated Press, confirmed the report on Tuesday.

The AP shows a landslide victory for Warren, as she has secured 60.3% votes against Deaton’s 39.7% after 88% reporting. At press time, the incumbent senator has 1.85 million votes cast for and 1.22 million votes against in the two-horse race.

Warren, Deaton Reacts to Victory

Reacting to the victory, Massachusetts’s incumbent, Senator Warren, applauded the immense support she received during the elections. In a tweet, she stated that she would keep advocating for the “working people.”

Meanwhile, pro-crypto Republican candidate Deaton addressed his proponents early Wednesday, also thanking them for their support. He noted that he was honored to hold his own while running for Senate against “one of the most entrenched Washington Elites” and an influential voice in US politics.

During the election debate, Deaton criticized Warren’s handling of digital assets, including her notorious Bank Secrecy Act and anti-money laundering regulations. In response, the senator defended her policies by stating that they aim to create equal rules for crypto.

Notably, Deaton is one of the few candidates supported by the crypto community that didn’t win the elections. The attorney in the Ripple vs. SEC lawsuit received donations from crypto leaders in his attempt to unseat Warren as Massachusetts’ senator.

Notable Impact?

Despite Warren’s victory, pro-crypto representatives occupy a chunk of other US senatorial seats. Report shows that about pro-crypto candidates are leading the race in the ongoing elections, strengthening pro-crypto dispositions in the House and Senate.

Furthermore, Donald Trump, who has secured a decisive lead in the presidential election, has promised to tackle the dark regulatory cloud in the US, including firing Gary Gensler on his first day in office.

Hence, unnecessary regulatory advocacies from antagonists like Warren may have minimal effect, as the notable levels of governance have representatives who believe in the nascent innovation and would defend its course.

Bitcoin Staking Platform Solv Hits Historic $2.2B TVL as BTC Peaks at $75K

Abdulkarim Abdulwahab
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Bitcoin Staking Platform Solv Hits Historic $2.2B TVL as BTC Peaks at $75K

As Bitcoin makes history today, the Bitcoin staking platform Solv Protocol has also achieved a historic milestone in its total value locked (TVL).

According to data from DeFiLlama, nearly 30,000 BTC are now locked on Solv Protocol, as the platform’s total value locked (TVL) surpasses $2 billion. This record is locked BTC, and the resulting monetary value comes as Bitcoin breaks its all-time high, surging past $75,000 today.

Heightened Staking Activity Amid Bitcoin’s All-Time High

Just yesterday, Bitcoin dropped to $66,800, triggering widespread FUD (fear, uncertainty, and doubt) in the market. However, by this morning, the premier crypto asset rebounded, surpassing its previous peak of $73,750 and hitting a new high of $75,360. This marked a massive 12.8% rebound within a single day.

The surge in Bitcoin’s price has directly impacted staking platforms like Solv Protocol, with more Bitcoin holders staking their funds. As of October 16, the amount of staked BTC was 16,340 tokens. By the end of October, this number had increased to 27,000, and as of this morning, it stands at 29,700 BTC — valued at over $2.23 billion at peak prices.

Solv Protocol has deployed these Bitcoin assets across ten blockchain networks, with Solv’s SolvBTC product alone accounting for approximately $1.11 billion in value.

Bitcoin in DeFi

Solv Protocol simplifies the staking process for Bitcoin holders through its Staking Abstraction Layer, which allows users to access liquid staking tokens (LSTs) such as SolvBTC.BBN. These tokens let users participate in staking while maintaining liquidity, making it easier for them to engage in decentralized finance (DeFi).

As Bitcoin’s market capitalization now exceeds $1.45 trillion, Solv is helping to integrate Bitcoin more deeply into the DeFi space. The platform taps into Bitcoin’s capital potential, offering services where users can earn rewards by contributing to the financing of blockchain networks.

Although the demand for Bitcoin staking is growing, it still lags behind Ethereum-based platforms like Lido, which currently has $25.7 billion in total collateral.

Ryan Chow, co-founder of Solv Protocol, pointed out that Bitcoin’s staking rate remains much lower than Ethereum’s (28%) but suggested that if Bitcoin’s staking rate were to reach similar levels, it could unlock as much as $330 billion in value.

Shiba Inu: Expert Sets $0.00005685 as Next Target for SHIB Amid Election Boost

Albert Brown
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A leading market watcher has argued Shiba Inu could be targeting a lofty height at $0.00005685 as bullish trends emerge.

Amid the ongoing U.S. elections and Donald Trump’s lead, Shiba Inu (SHIB) has seen a sharp rise, coinciding with broader bullish sentiment in the crypto market. Currently priced at $0.00001922, SHIB has marked a 9.41% increase over the past 24 hours.

Amid this surge, an analysis by market watcher Alex Clay projects that SHIB could continue its upward movement. His analysis points to the completion of a “Descending Broadening Wedge” pattern, suggesting a potential bullish reversal as SHIB’s price breaks above a key trend level.

Image
Chart by Clay

Notably, the “Descending Broadening Wedge” pattern is characterized by two diverging trendlines sloping downwards. It often signals a reversal after periods of downtrend. This recent breakout from the pattern places SHIB above a key level identified at $0.00001833.

According to Clay, breaking this level improves Shiba Inu’s bullish prospects, aligning with the broader market gains where coins like Dogecoin recorded a 22% increase.

Target Prices for Shiba Inu 

In his analysis, Clay identified two price targets for Shiba Inu based on Fibonacci retracement levels. The first target is $0.00003710, aligning with the 0.382 Fibonacci retracement level.

The second, higher target is $0.00005685, corresponding to the 0.618 Fibonacci level, where increased selling pressure may emerge.

AI Predictions from ChatGPT and Google Gemini

Meanwhile, AI-driven predictions from ChatGPT and Google Gemini have provided insights into SHIB’s potential growth amid Bitcoin’s new all-time highs and the U.S. election climate. ChatGPT forecasts SHIB’s growth under three scenarios: modest growth, an optimistic bull run, and highly favorable market conditions.

Under the modest growth scenario, SHIB’s value could rise 5-10 times, reaching between $0.00009555 and $0.0001911. The optimistic scenario projects a 15-20x increase, placing SHIB’s price between $0.00028665 and $0.0003822.

In a best-case scenario, ChatGPT suggests a 30x increase, possibly reaching $0.0005733, though this relies on optimal market conditions.

Meanwhile, Google Gemini offers a structured price target based on SHIB’s market capitalization. Assuming SHIB’s market cap could reach $100 billion by 2025, Gemini estimates a target price of $0.0001, though it acknowledges that this is speculative.

Shiba Inu $2.35B Blockchain Hub for U.S.

In related developments, Shiba Inu’s lead developer, Shytoshi Kusama, has proposed the Strategic Hub for Innovation in Blockchain (S.H.I.B.), a $2.35 billion initiative to establish the U.S.’s first blockchain-focused tech center.

The proposal, designed to foster innovation and economic growth, includes plans for 20,000 new jobs and an estimated $5 billion annual economic boost. The initiative outlines a $700 million to $1.2 billion budget for infrastructure, with additional funds allocated for business support and skills training.

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