Javier Milei, Argentina's Crypto-Friendly New President: A First Mover

• Latest Developments in Crypto Markets
• Notable Personnel Joining Microsoft
• Santander Incorporates Crypto Services
• Chart of the Day

Latest Developments in Crypto Markets

The anticipated future president of Argentina, Javier Milei, has been declared the victor after his contender, Sergio Massa, conceded on Sunday evening. Argentinians have decided to tread a different path, with Milei securing approximately 56% of the votes against Massa's 44%, as per Bloomberg. With bitcoin trading steadily throughout most of the weekend, conversation surrounding Milei's strong performance gave rise to bitcoin prices late Sunday afternoon. Following Massa's surrender, crypto stands higher by nearly 2% over a 24-hour period, with a value of $37,150.

Milei has previously voiced his opinion on the matter of bitcoin, stating that central banks are a hoax. He believes bitcoin signifies the reinstatement of money to its origin, the private sector.

Notable Personnel Joining Microsoft

Sam Altman, ex-CEO of OpenAI, Greg Brockman, co-founder and former president of the company, along with other past employees are set to join Microsoft, as communicated by CEO Satya Nadella. Altman departed from OpenAI recently after the board expressed their lack of confidence in his leadership. Brockman's exit was announced shortly after Altman's departure. Nadella reports that Altman is to head a new high-level AI research unit.

Santander Incorporates Crypto Services

Santander Private Banking International, a subset of the Spanish financial titan, Banco Santander, is rendering high-net-worth clients with Swiss accounts the ability to trade and invest in the prime cryptocurrencies, bitcoin and ether. This is according to an internal pronouncement witnessed by CoinDesk. In the coming months, Santander plans to introduce other cryptocurrencies that align with the bank's assessment parameters, according to the same announcement. The bank has clarified that the service will be made available strictly upon client request through account managers, with assets held in a regulatory custody model that securely safeguards the private cryptographic keys.

Chart of the Day

The day's chart presents the hourly average return of bitcoin since the year's commencement. It suggests that the optimal timeframe to trade the cryptocurrency falls between 22:00 to 1:00 UTC. Notably, unlike typical markets, the cryptocurrency market operates 24/7, inclusive of public holidays.

Edited by Jonathan Stoker