Uncensored, Unfiltered, Unapologetic News Tech-Talk: Day's Top Picks, April 30th
Ripple Proposes $5 Billion Acquisition of Circle; Bitcoin Faces Quantum Threat, Cautions Analyst; Dramatic 5,438% surge in XRP amid unusual liquidation imbalance within an hour detailed in Cryptocurrency News Roundup by U.Today
Welcome to our informal pie-in-the-sky roundup of thrilling crypto happenings from the world of blockchain! No sugarcoating, no bullsh*t, just straight-up facts and stories. Buckle up and let's roll.
Ripple steals the show with a jaw-dropping $20 billion offer to buy Circle
According to some juicy gossip from Bloomberg, Ripple, that cheeky bitcoin competitor, threw down a wicked $20 billion offer to get its mitts on Circle, the USDC issuer. But hold on to your milkshakes, kids—Circle's CEO ain't exactly jumping at the opportunity for a merger just yet. He's got other fish to fry, like preparing for an IPO and savoring the sweet scent of a $10 billion valuation. But guess who's still keen on a potential acquisition? That's right, Ripple. They're sitting pretty in their San Francisco headquarters, debating whether or not to make a new, more attractive bid. We're all on tenterhooks! Popcorn emoji
Quantum threat to Bitcoin: Not if, but when, say experts
In a headline-grabbing Twitter post, Alex Thorn, the brainy squirrel at Galaxy Digital, raised concerns about the ticking quantum time bomb hovering over Bitcoin and every other crypto that relies on public key cryptography. Yep, that means you, Bitcoin. Thorn warns that when this bomb goes off, we can kiss our cute crypto fortunes goodbye. He also dissed a proposed solution, highlighting the gravity of the situation and its potential national security implications. And just an FYI—Microsoft's recent quantum leap to the frontier with its Majorana 1 chip has revved up discussion about this dark horse threat.
XRP goes gangbusters—again
You know what they say—if at first you don't succeed, keep scalping and scalping until you hit the jackpot. And that's exactly what happened to XRP when the little guy skyrocketed 5,438% in just one hour, ending a titanic tussle between long and short liquidations. With over a cool $7.64 million in liquidations, the bulk (98%) was thanks to long positions on the [dog] chain. Git 'er' done, XRP!
The Great, Grand, and Glorious Crypto World tour
Here's a quick roundup of additional stunners from the crypto landscape:
- Quantum trading: $10 billion deal not crazy, says the XRP lawyer, as chatter swirls about Ripple's rumored blockbuster move to buy out its main competitor [2];
- Bitcoin gold rush: Bitcoin's price soared to a new all-time high following a rare golden cross [6];
- Rollercoaster ride: Ripple's army clings to its faith in the face of rumors about a $20 billion offer for Circle [2];
- Minting money: XRP's liquidation imbalance trickled into the $3 billion mark, as traders grappled with the rising palpitation of the little guy [7].
Check out our must-reads and kick back as we navigate the unpredictable waters of the crypto universe. Stay sassy, stay insane!
Insights:
- Circle is reportedly seeking a valuation of $10 billion through its upcoming IPO plans, casting doubt on Ripple's initial $5 billion offer to buy out Circle [1].
- A potentially successful acquisition of Circle by Ripple would generate significant synergies, cementing Ripple's position in the stablecoin market [2].
- Public key cryptography, relied upon by all major cryptocurrencies, may be susceptible to an impending quantum computing attack [6].
- Ripple's audacious $20 billion offer for Circle, unveiled in a Bloomberg report, has created quite a stir, despite Circle's CEO showing initial hesitation towards a potential merger.
- In a worrying development, Alex Thorn of Galaxy Digital has issued warnings about the potential quantum threat to Bitcoin and other cryptos utilizing public key cryptography.
- Not one to be left behind, XRP demonstrated an impressive recovery, surging 5,438% in just an hour, leaving traders in awe.
- The crypto finance world is abuzz with news of quantum trading, as XRP's legal team suggests a $10 billion deal is not entirely implausible in the face of Ripple's alleged plans to buy out a major competitor.
- The price of Bitcoin reached a record high following a rare golden cross, causing a gold rush among crypto investors.
- The crypto market is witnessing a rollercoaster ride, with Ripple's loyalists holding strong in the face of rumors about a $20 billion offer for Circle, while XRP traders grapple with the liquidation imbalance that has crossed the $3 billion mark.
- In the realm of crypto news, it's also worth noting that Tomiwabold of Finance and Investing Business has published insightful articles on the latest developments in Ethereum, trading, and other intriguing crypto-related topics.
