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Privacy-focused Gnosis Chain and venture capital firm Factor led the investment, according to a press release shared by the firm. Crypto wallet provider Safe, social media privacy solution Mask Network, decentralized file storage Arweave Ecosystem and its ecosystem incubator Forward Research, Web3 credentials network Galxe, ex-Coinbase Balaji Srinivasan and other
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Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially committed $1 million, with two-thirds of the money donated
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A $1 million Bitcoin (BTC) price bet has been closed out 97% under its target price, with its backer Balaji Srinivasan choosing instead to donate a total of $1.5 million to three different entities as a settlement.On May 2, Srinivasan, the former chief technology officer at Coinbase, said the bet
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The former chief technology officer at crypto exchange Coinbase and a former partner at venture capital firm Andreessen Horowitz, Srinivasan in mid-March – shortly after the failures in short order of Silvergate Bank, Signature Bank, and Silicon Valley Bank – said he expected a banking crisis to trigger a sizable
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Relating the chances of bitcoin reaching $1 million to the probability of some sort of Black Swan event in the U.S. economy, Srinivasan said he thinks there's a 10% chance of a very serious issue in months, a 70% chance of one in years and a 90% chance within decades. Source
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First, why did the inflation hedge thesis lose credibility? Well, people saw inflation rising rapidly in late 2021 and early 2022, just as bitcoin's price quickly fell. Ergo, bitcoin wasn't an inflation hedge. Many critics of Bitcoin enjoyed carping about this, and the tl;dr of all of their articles and
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Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation,
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Angel investor Balaji Srinivasan says the collapse of crypto exchange FTX should be treated as “a preview of state failure.” He warned that one day U.S. dollar bank accounts “may be frozen or inflated to worthlessness,” emphasizing that the authorities “will show no interest in prosecuting.” Srinivasan cautioned: “That world
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We think it’s fitting that this, the 50th episode of “Money Reimagined,” is being published inside an historic week for the crypto community, when the launch of a futures-focused bitcoin exchange-traded fund helped drive the leading cryptocurrency to a new all-time-high just shy of $67,000.This episode is sponsored by Quantstamp.It’s
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At first, Balaji Srinivasan held his tongue about the coronavirus. Years before he became an angel investor and intellectual firebrand of the cryptocurrency community, Srinivasan had co-founded a genetic testing company that was eventually sold for $375 million. He had also written papers on microbial and clinical genomics and taught bioinformatics
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