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The Cardano price soared 10% in the last 24 hours to trade at $0.5893 as of 12:30 a.m. EST on a 216% pump in trading volume to $6 billion. The ADA price pump came after Charles Hoskinson said in a YouTube live stream that he’d be spending ”quite a bit of time with members of the administration” to help craft crypto policy. The incoming administration of incoming president-elect Donald Trump has not announced a role for Hoskinson. Cardano Price Spikes In A Parabolic Curve The ADA/USD pair on this 4-hour chart shows a strong bullish trend following a long period of consolidation. The price is around $0.5933, with a recent parabolic rise indicating substantial buying interest. After trading in a tight range for an extended period, the price broke out with a steep upward curve, suggesting that momentum has shifted decisively in favor of the bulls. The moving averages add further weight to this bullish outlook. The 50-period moving average (blue line) is at$0.4053, a...

Florida Chief Financial Officer Jimmy Patronis is pushing an idea for state pension funds using a Bitcoin stockpile. The official was inspired by Donald Trump’s crypto policy, which is in support of Bitcoin and the crypto industry. Patronis said in a letter to the state’s investment managers that they should follow Trump’s ideas and push for a Bitcoin pension fund for retirees. “I believe this forethought and innovative thinking from a successful businessman like President Trump must not be taken for granted,” the state CFO said in a letter to the executive director of Florida’s State Board of Administration. “Bitcoin is often called ‘digital gold,’ and it could help diversify the state’s portfolio and provide a secure hedge against the volatility of other major asset classes.” Florida To Follow Trump’s Footsteps Of Bitcoin Support? Other states around the nation have indulged in Bitcoin ETFs and pensions. The success of...

A Saturday news broadcast on X and YouTube by BitcoinNews.com claimed that the fifth largest economy in the world has adopted bitcoin. It had not. The livestream headline and much of its commentary dangled the inference that California had somehow just ‘adopted’ bitcoin as other governments like El Salvador had ‘adopted’ bitcoin. Many were fooled. The broadcast misleadingly suggested that an obscure announcement by the City of Santa Monica meant that the entire State of California – which is the world’s fifth largest economy by some metrics – had ‘adopted’ bitcoin. Read more: Fake news again! This time it’s Kamala Harris and ‘unrealized crypto gains’ No, it did not. California did not change any policy regarding bitcoin over the weekend. What actually happened is that on July 10, one city in California opened an office in partnership with a non-profit foundation. That office is called the Santa Monica Bitcoin Office. The city allocated $0 to its budget. Screenshot of the announc...