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U.S. Senator Cynthia Lummis said that she is “really excited” about the low price of bitcoin, and is planning to buy the dip. “As soon as it drops a little more I’m going to buy some more,” she said. The senator believes bitcoin is a great store of value.

Pro-Bitcoin US Senator Cynthia Lummis Plans to Buy the Dip
U.S. Senator Cynthia Lummis from Wyoming commented on the falling price of bitcoin on Tuesday in an interview with Fox Business. She was asked how she felt about bitcoin’s price falling to below $30K. The senator replied:

I’m really excited about it because as soon as it drops a little more I’m going to buy some more.

She then shared a story of another investment she made previously. “My favorite stock that I own is a company called United Rentals. I bought it and it dropped like a rock. I held onto it and … it has performed beautifully over the years for me. And I see bitcoin doing the same kind of thing because the fundamentals are good.”

Senator Lummis was also asked if she wanted any kind of regulation for bitcoin. “I do,” she affirmed. “I want to have a level playing field.” She elaborated that the rules should be simple and easy to understand for digital assets and cryptocurrencies, emphasizing that they should not be “overly restrictive because we want to see increased innovation in this space.”

Lummis revealed last year that she is a bitcoin holder and has been saying that the cryptocurrency is a great store of value. “I was struck by how innovative bitcoin is with its decentralized public ledger and a fixed supply,” she explained at the time.

The senator plans to convince her colleagues in Congress about the benefits of bitcoin. “I want to make sure everybody understands that this is a great store of value,” she previously said.

Senator Lummis is not the only one who plans to take advantage of the falling price of bitcoin and buy the dip. Microstrategy just purchased 13,005 bitcoins and Rich Dad Poor Dad author Robert Kiyosaki recently revealed that he is waiting for the BTC price to fall to $24K to buy some more coins.

Source Credits: Bitcoin.com

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Bybit Ether reserves near 50% pre-hack levels after $295M ETH buy

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Bybit has recovered 50% of its Ether reserves after a $1.4 billion hack in February, one of the largest crypto thefts in history. The exchange, which saw its ETH holdings drop from 439,000 to just 61,000 ETH, has since rebounded to over 201,600 ETH through spot buying and emergency industry support.

To aid recovery, Bybit secured $390 million in loans and transfers from firms like Binance, Bitget, and HTX Group. Additionally, the exchange purchased 106,498 ETH worth $295 million via OTC trades, helping to rebuild its reserves quickly.

Despite losing over $5.3 billion in total assets post-hack, Bybit’s reserves remain higher than its liabilities, as confirmed by an independent proof-of-reserve audit by Hacken. This has reassured users, with Bybit processing 350,000 withdrawals within 10 hours of the attack.

The attack was reportedly linked to North Korea’s Lazarus Group, which exploited Bybit’s Ethereum multisig cold wallet. Analysts suggest the breach involved a deceptive transaction that tricked signers into approving a malicious smart contract.

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Tezos launches world’s first Uranium marketplace on blockchain

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Tezos blockchain has become the foundation for the world’s first uranium trading marketplace, marking a significant milestone in the integration of blockchain technology with critical commodities. Announced on Nov. 21, the platform aims to bring transparency and efficiency to the global uranium market, which has traditionally operated with limited visibility and complex supply chains. The initiative is spearheaded by major industry players seeking to modernize uranium trading.

The blockchain-based marketplace will enable buyers and sellers to transact securely while providing an immutable ledger of all transactions. This innovation is expected to address long-standing challenges in the uranium sector, including traceability, regulatory compliance, and pricing opacity. By leveraging Tezos’ smart contract capabilities, the platform offers automated processes for contract execution and ensures a transparent record of ownership and origin.

Industry leaders have praised the project as a game-changer for the nuclear energy supply chain, which relies heavily on uranium. The marketplace is designed to support global efforts to enhance sustainability and safety, aligning with the increasing focus on responsible sourcing of critical materials. The move could also attract new participants to the market by lowering barriers to entry and fostering trust through blockchain’s verifiable data.

This development underscores the expanding role of blockchain in transforming traditional industries beyond finance. By addressing inefficiencies in one of the world’s most regulated markets, Tezos demonstrates how decentralized technologies can drive innovation and transparency. As the uranium marketplace gains traction, it could serve as a blueprint for blockchain adoption in other critical resource sectors.

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Business

LimeWire adds decentralized file sharing feature with BNB Greenfield

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LimeWire, the iconic file-sharing platform from the early 2000s, has made a comeback, reimagined for the Web3 era. Announced on Nov. 21, the platform now operates as a decentralized file-sharing network, leveraging blockchain technology to enable secure and transparent peer-to-peer sharing of digital assets. The relaunch aims to blend nostalgia with innovation, introducing LimeWire to a new generation of users while embracing the principles of decentralization.

The updated LimeWire platform integrates blockchain to provide content creators with greater control over their work, including tools for licensing and monetization. Users can share files, such as music, videos, and other media, while ensuring ownership and royalties are preserved through smart contracts. LimeWire also features its own native token to facilitate transactions within the ecosystem, including tipping creators and accessing premium content.

LimeWire’s revival reflects a broader trend of Web2 platforms transitioning into the Web3 space. The platform’s focus on decentralization aligns with the growing demand for alternatives to centralized file-sharing services, which have faced criticism over censorship and lack of user privacy. By adopting blockchain, LimeWire seeks to address these issues while empowering both creators and consumers with greater transparency and fairness.

As LimeWire re-enters the digital landscape, its success will depend on user adoption and the platform’s ability to compete with established Web3 content-sharing solutions. With its nostalgic branding and commitment to innovation, LimeWire’s evolution into a decentralized platform positions it as a potential leader in reshaping how digital content is shared and monetized in the blockchain era.

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