Bitcoin Is Here to Stay, According to CIA; Ethereum in Big Trouble If It Doesn't Scale 100x, Researcher Warns: Crypto News Digest by U.Today
05/02/2025 23:38
Start the month with the latest crypto insights, read U.Today’s daily news digest!
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
U.Today presents to you the top three stories over the past day; don't miss this piece!
CIA: Bitcoin here to stay
Michael Ellis, the deputy director of the Central Intelligence Agency (CIA), has recently made an appearance on Anthony Pompliano's "The Pomp Podcast" to discuss, among other things, cryptocurrencies, and Bitcoin in particular. Ellis
Ethereum in big trouble if it doesn't scale 100x, researcher warns
In a recent post on the Ethereum Magicians website, Dankrad Feist, a researcher at the Ethereum Foundation, warned that Ethereum could become irrelevant in the next five to ten years unless it changes its current trajectory. Earlier this month, Feist introduced Ethereum Improvement Proposal 7938, which aims to increase the gas limit by 100x over the course of four years; this would allow for a greater number of transactions per block. Even though Feist admitted that the proposal is "unconventional," he believes that such bold decisions are necessary to prevent Ethereum from fading into irrelevance. According to Feist, the endgame is to scale Ethereum up to 1,000x. However, he cautioned that if liquidity gets fragmented across layer-2s, Ethereum risks losing to other competing ecosystems. Still, Feist remains confident that Ethereum can scale without compromising its crucial properties (censorship resistance and verifiability).
"Rich Dad Poor Dad" author: If Bitcoin crashes to $300, here’s choice
"Rich Dad Poor Dad" author and financial guru Robert Kiyosaki has once again taken to X platform to share his concerns regarding the current state of the global economy. This time, Kiyosaki started his X post by addressing a growing fear of unemployment spreading "like a virus across the world," which is obviously not good for the global economy. The author then referred to his earlier work, "Rich Dad’s Prophecy," where he forecasted a significant market crash leading to a recession and possible "New Great Depression." "I hope my book and I are wrong," wrote Kiyosaki. However, at the same time, he stated that crashes can present unique investment opportunities, recalling how the 2008 financial crisis benefited him and others by making real assets more affordable. Kiyosaki took Bitcoin as an example, stating that it could also be affected by the market crash, and if it crashes to $300 hypothetically, there would be only two choices – "to cry or celebrate." Lastly, he urged his audience to be prepared for potential market turmoil, stressing that readiness is far more crucial than succumbing to panic.