December 6, 2024
BITCOIN BLOCKCHAIN BECOMES CUSTODIAN OF WAR LOGS IN WIKILEAKS' LATEST PROJECT
WikiLeaks has unveiled Project Spartacus, a groundbreaking initiative to permanently archive the Afghan War Logs on the Bitcoin blockchain. This effort will preserve over 70,000 U.S. military files detailing activities during the Afghan war, initially leaked in 2010.
By leveraging Bitcoin's decentralized and immutable ledger, these documents will remain accessible for generations, safeguarding them against loss or censorship even if WikiLeaks' website or servers become unavailable.
The process is powered by the OrdinalsBot platform, which uses the Bitcoin Ordinals protocol to inscribe and encode information onto Satoshis, the smallest unit of Bitcoin.
Each Satoshi represents a fraction of a Bitcoin (each bitcoin can be divided into 100 million satoshis), making it possible to store a huge volume of information securely and uniquely. According to OrdinalsBot founder Toby Lewis, inscribing all 76,911 files is a monumental task, “it's not a small collection”, underscoring the project's scale and ambition.
While many applaud the initiative as a step toward immutable transparency, critics argue that using Bitcoin for non-financial data storage deviates from its original purpose as a peer-to-peer monetary network.
BITCOIN HITS HISTORIC $100K MILESTONE, ETHEREUM BREAKS $4,000 IN MARKET SURGE
After years of speculation, Bitcoin has reached a historic milestone, surpassing $100,000 for the first time. Ethereum (ETH) has also gained momentum, breaking above $4,000—a level not seen since March 2024.
While Bitcoin’s rally has captivated headlines, Analysts attribute ETH’s revival to factors such as the crypto-friendly stance of the incoming Trump administration, inflows from crypto ETFs, a strong developer ecosystem leveraging Ethereum’s blockchain, and the upcoming Pectra upgrade, which promises significant improvements to Ethereum’s scalability and efficiency.
Analysts believe this momentum could drive further price gains, although historical patterns suggest vigilance is warranted. Ethereum’s earlier Dencun upgrade, which reduced L2 transaction fees, temporarily pressured ETH prices but ultimately improved network efficiency, setting the stage for long-term growth.
TRUMP NOMINATES PAUL ATKINS FOR SEC CHAIR: A BOOST FOR CRYPTO-FRIENDLY REGULATION?
President-elect Donald Trump announced on Truth Social that he has selected Paul Atkins, a former SEC commissioner, to head the Securities and Exchange Commission. Describing Atkins as a proponent of "common sense regulations" and a champion of "robust, innovative capital markets," Trump emphasized his nominee’s commitment to fostering growth while embracing digital asset innovations as part of his vision to "Make America Greater than Ever Before."
The nomination has drawn both praise and criticism. While supporters see Atkins as a reformist who could modernize the SEC, Congressman Brad Sherman voiced concerns, warning that Atkins may avoid classifying cryptocurrencies as securities, potentially leaving gaps in investor protections.
Trump also announced David Sacks as the administration’s new AI and Crypto Czar, signaling a strong focus on emerging technologies in his administration.
CZECH REPUBLIC APPROVES TAX BREAK FOR LONG-TERM BITCOIN HOLDERS STARTING JAN 2025
Starting January 1, 2025, the Czech Republic will exempt bitcoin held for over three years from capital gains tax, following a historic parliamentary vote. This means individuals who retain their bitcoin for at least three years before selling can exclude gains from income tax calculations.
While additional guidelines are expected, including possible limits on exempted gains, this move has been widely praised for its progressive stance.
As the country continues to attract a tech-driven population, this move is expected to bolster the Czech Republic’s reputation as a forward-thinking player in Europe’s digital economy. While details on potential caps and limits are still awaited, the announcement has been celebrated as a step toward fostering innovation and competitiveness in the evolving cryptocurrency market.