Former President Trump announced Friday that LIV will play a championship tournament at his course in Miami in 2024.
Charles Howell III putts on the 17th green during Day Two of the LIV Golf Invitational – Miami at Trump National Doral Miami on Oct. 21, 2023 in Doral, Florida.(Cliff Hawkins/Getty Images)
“TRUMP NATIONAL DORAL, in Miami, has just signed with LIV GOLF to host a Championship Tournament in April, 2024. The event they had at Doral in October was a major success!” Trump posted to Truth Social.
LIV announced its 2024 schedule in November, which includes 14 events, both in the U.S. and overseas.
A Trump golf course was not listed as one of the host sites, but one of the two tournaments scheduled for April did not have a venue.
The 2024 LIV season kicks off in February at El Camaleon Golf Course in Mexico.
LIV played three tournaments at Trump courses in 2023, including Trump National Doral Golf Course, Trump National Golf Club Bedminster and Trump National Golf Club Washington D.C.
Signage during day three of the LIV Golf Invitational – Miami on Oct. 22, 2023, at Trump National Doral Miami in Doral, Florida.(Michele Eve Sandberg/Icon Sportswire via Getty Images)
LIV Golf received a big boost last week, when Jon Rahm defected from the PGA Tour to join the Saudi-backed league.
Rahm touted LIV’s team format as one of the reasons he decided to make the move.
“It is not an easy decision because I’ve had a really successful career, and I’ve been very happy. But there’s a lot of things that LIV Golf has to offer that were very, very enticing, starting with team golf,” he told Fox News’ Bret Baier. “Being part of a team is something that’s been really big for me throughout my career.
“I was part of the Spanish national team from the age of 14 till I graduated college. I was part of the Arizona State golf team. And you know, as a pro, you don’t have that chance very often. And if you are European or American, you barely have that chance, right?
Jon Rahm, left, and LIV Golf Commissioner and CEO Greg Norman pose for a photo in New York on Thursday, Dec. 7, 2023. Rahm announced on Thursday he was joining LIV Golf.(Scott Taetsch/LIV Golf via AP)
“So, it’s something that is very, very fun to play for something more than just yourself. And simply the growth that LIV Golf has brought to the game of golf. Right? It’s something fresh, something new, something with a ton of potential and opportunity and something I’m really excited about.”
Rahm’s deal to join LIV was reportedly worth $300 million over three years, according to ESPN.
A study from two Europe-based nonprofits has found that Microsoft’s artificial intelligence (AI) Bing chatbot, now rebranded as Copilot, produces misleading results on election information and misquotes its sources.
The study was released by AI Forensics and AlgorithmWatch on Dec. 15 and found that Bing’s AI chatbot gave wrong answers 30% of the time to basic questions regarding political elections in Germany and Switzerland. Inaccurate answers were on candidate information, polls, scandals and voting.
It also produced inaccurate responses to questions about the 2024 presidential elections in the United States.
Bing’s AI chatbot was used in the study because it was one of the first AI chatbots to include sources in its answers, and the study said that the inaccuracies are not limited to Bing. They reportedly conducted preliminary tests on ChatGPT-4 and also found discrepancies.
The nonprofits clarified that the false information has not influenced the outcome of elections, though it could contribute to public confusion and misinformation.
“As generative AI becomes more widespread, this could affect one of the cornerstones of democracy: the access to reliable and transparent public information.”
Additionally, the study found that the safeguards built into the AI chatbot were “unevenly” distributed and caused it to provide evasive answers 40% of the time.
According to a Wall Street Journal report on the topic, Microsoft responded to the findings and said it plans to correct the issues before the U.S. 2024 presidential elections. A Microsoft spokesperson encouraged users to always check for accuracy in the information obtained from AI chatbots.
Earlier this year in October, senators in the U.S. proposed a bill that would reprimand creators of unauthorized AI replicas of actual humans — living or dead.
In November, Meta, the parent company of Facebook and Instagram, introduced a mandate that banned the usage of generative AI ad creation tools for political advertisers as a precaution for the upcoming elections.
Golden State Warriors star Draymond Green will be away from the team indefinitely after the four-time All-Star wildly struck Phoenix Suns center Jusuf Nurkic in the face on Tuesday.
Green was ejected from the game, his third this season and the 18th of his career. He was suspended five games earlier this year after putting Minnesota Timberwolves center Rudy Gobert in a chokehold.
Golden State Warriors forward Draymond Green, #23, reacts after being called for a foul on Phoenix Suns center Jusuf Nurkic, #20, during the third quarter at Footprint Center in Phoenix Dec. 12, 2023.(Mark J. Rebilas-USA TODAY Sports)
The NBA ran out of patience and suspended Green on Wednesday, saying that he will be “required to meet certain team and league conditions before he returns to play.”
“I think the suspension makes sense,” Warriors head coach Steve Kerr said Thursday. “To me, this is about more than basketball. It’s about helping Draymond. It’s an opportunity for Draymond to step away and to make a change in his approach, in his life. And that’s not an easy thing to do.
“That’s not something you say, ‘OK. We’re going to do five games. And then he’s going to be fine.’ The league did that, did five games after the incident with Rudy [Gobert]. That’s not the answer. To pick a number.”
Green has always been an emotional player as the leader of the organization that won four championships over an eight-year period. However, over the past year, Green has had multiple outbursts that have resulted in physical altercations.
Golden State Warriors head coach Steve Kerr reacts to a call on the floor by the officials against the LA Clippers during the first half of an NBA basketball game at Chase Center on Nov. 30, 2023 in San Francisco.(Thearon W. Henderson/Getty Images)
Green punched his then-teammate Jordan Poole in the face during training camp prior to the 2022-23 season and was suspended for one game during the 2023 playoffs for stomping on the chest of Sacramento Kings forward Domantas Sabonis.
He was then suspended for five games by the league in November for putting Gobert in a chokehold during an altercation with the Timberwolves.
“The answer is to help Draymond,” Kerr said. “To give him the help he needs. Give him an opportunity to make a change that will not only help him, help our team, but help him for the rest of his life. This is not just about an outburst on the court. It’s about his life.”
Kerr expressed his love for Green, saying he loved him for his “loyalty, his commitment, his passion,” but expressed that Green had to change.
Draymond Green, #23 of the Golden State Warriors, reacts after being ejected for a flagrant foul during the second half of the NBA game against the Phoenix Suns at Footprint Center on Dec. 12, 2023 in Phoenix. The Suns defeated the Warriors 119-116.(Christian Petersen/Getty Images)
“Trying to help that guy,” Kerr continued. “Because the one that grabbed Rudy, choked Rudy, the one who took a wild flail at Jusuf, the one who punched Jordan last year, that’s the guy who has to change. And he knows that. Everything before that, over a decade of play, what are we really talking about? We’re talking about getting ejected for yelling at the ref or throwing a ball.
“But you look at the past year and what’s happened, it’s clear. He needs the opportunity to change and that’s what an indefinite suspension gives him the opportunity for.”
Golden State has struggled out of the gate, starting the year 10-14 and losing six straight games in November.
A boat carrying more than 60 migrants encountered difficulty Friday as it attempted to make the dangerous crossing across the English Channel from France, and authorities said one person died and another was hospitalized in critical condition after a rescue operation.
French maritime authorities said in a statement that the boat carrying the migrants had partially deflated and that the individual who died was unconscious when rescue ships arrived. They said another person was in critical condition and flown by helicopter to a hospital in the French port of Calais.
Rescue vessels picked up 66 people in all, including the person who died, after the boat in distress was spotted around five miles off the coast of Grand-Fort-Philippe at around 12:30 a.m. local time. The U.K. coastguard said it sent a helicopter to assist the French authorities coordinating the operation.
The French coast around Calais has long been a jumping-off point for people fleeing conflict and poverty around the world seeking to reach Britain, often via dangerous and sometimes deadly sea journeys across one of the world’s busiest shipping channels.
A damaged inflatable small boat is pictured on the shore in Wimereux, northern France, on Nov. 25, 2021 in Calais, northern France. Authorities say they rescued more than 60 migrants attempting to cross the English Channel overnight on Dec. 15, 2023, but that one of them died.(AP Photo/Michel Spingler, File)
More than 29,000 migrants have arrived in the U.K. this year after crossing the Channel, the second highest annual total to date since records began in 2018.
Though sharply down from last year’s 46,000, British Prime Minister Rishi Sunak has pledged to “stop the boats” and is currently trying to win approval from lawmakers for a controversial plan to send some asylum-seekers to Rwanda.
Following confirmation of the latest death in the Channel, Britain’s interior minister, James Cleverly, said the government “must and will do more.”
“The incident in the Channel last night is a horrific reminder of the people-smugglers’ brutality,” he said on X, formerly known as Twitter.
A bill that Cleverly is steering through Parliament seeks to overcome a ruling by the U.K. Supreme Court that the plan to send migrants who arrive from across the English Channel to Rwanda – where they would stay permanently — is illegal.
The Safety of Rwanda (Asylum and Immigration) Bill faces criticism both from centrists in the governing Conservative Party who think it skirts with breaking international law, and from lawmakers on the party’s right, who say it doesn’t go far enough to ensure migrants who arrive in the U.K. without permission can be deported.
The main opposition Labour Party which is far ahead in opinion polls ahead of a general election next year, has promised to ditch the plan that it has derided as a “gimmick.” The party says the British government’s priority should be breaking up the smuggling gangs that facilitate migrant boat crossings and promoting greater cooperation across Europe.
Enver Solomon, chief executive of the U.K. based Refugee Council, said these “appalling deaths” were all to common and added urgency to the need to “put in place safe routes so people don’t have to take dangerous journeys across the world’s busiest shipping lane.”
“Instead, the government is pushing ahead with its unworkable and unprincipled Rwanda plan as well as shutting down existing safe ways to get to the U.K.,” he said.
As talk of the Bitcoin halving, exchange-traded funds and other macro factors seem to point to the beginning of the next bull market cycle for crypto, many might be considering starting a career in this space. It happens to many people involved with Bitcoin (BTC), blockchain or cryptocurrencies.
At first, they are “investors” researching and buying assets in a new digital asset class. For some, this turns into a desire to enter the decentralized ledger technology and blockchain industry. Many have decided to find paths to employment and acquire the skills necessary to jump into careers in this space.
Since the beginning of the blockchain and cryptocurrency industry, most people have found jobs through informal connections or demonstrable skills.
It is a bit harder to break through into this growing industry today, but universities have stepped up with a solution. Formal blockchain degrees are now offered across the globe, allowing individuals to master the concepts on which the sector is built while networking and gaining inroads into the industry.
Since the bear market and the subsequent slowdown of the blockchain industry in late 2021, there have been significant human resource cuts at crypto-centric firms like Coinbase, Gemini and Consensys.
The last half of 2023 has recently seen growing speculation and potential signals that the start of the next bull market is approaching. Increasing activity in the blockchain industry suggests the increased need for talent to meet the upcoming demand, and many people are interested in getting a foot in the door at a crypto company and finding ways to set themselves apart from the rest of the industry.
Not everyone is a high-profile individual like Jon Dalby, who left his role as chief financial officer of Bridgewater Associates to join New York Digital Investment Group (NYDIG) in 2021. Dalby brought with him traditional finance experience that is valuable to NYDIG.
However, not all degrees can easily translate into the blockchain industry, as individuals must grasp the technical and functional sides to understand the unique value propositions this new industry holds.
The blockchain industry has been reported to be on the road to serious growth, with a predicted continuous average growth rate of 59.9% from 2023 to 2030. According to PwC, there will be over 40 million blockchain industry-related jobs worldwide by 2030. Looking at the average salaries for some common blockchain industry jobs in the United States, the more expansive the job responsibilities, the greater the need for an advanced degree.
Traditional educational institutions like colleges and universities worldwide now offer degree programs focusing on blockchain technology. Some are purely technical, while others combine business and tech.
These programs’ existence begs the question: Are these formal degrees valued in a still-maturing industry? Do they give a degree holder an advantage in the current marketplace? Is this a sign that the industry is maturing, and we should look to these academic credentials as a sign of a certain level of competence?
What do blockchain educators say?
Cointelegraph reached out to various university program directors across the globe to get their take on the goals of formal blockchain education programs.
Brian Houillion, program coordinator of the University of the Cumberlands’ master’s program in global business with blockchain technology, told Cointelegraph that the program is “preparing our business students to serve in roles that partner and support the roles of entrepreneurs and developers.”
He said that one of the most important skills needed in the blockchain industry is a deeper understanding of regulatory issues, specifically so that innovation is “not smothered before it can develop” by allowing these upcoming blockchain professionals to work with lawmakers as the industry matures.
The head of the European Blockchain Center, Roman Beck, told Cointelegraph, “Formal degrees allow for signaling and positioning the topic next to more established degrees and thus increase the visibility of the blockchain industry,” providing greater legitimacy among the traditional world.
He believes the industry needs more individuals with the skill sets to “develop economic models that allow for decentralized businesses that create and capture value, which is the most urgent skill and mindset for blockchain architects and developers.”
Michael Jones, the director of the University of Cincinnati’s Cryptoeconomics Lab, told Cointelegraph that having formal degrees brings legitimacy and credibility to the industry overall. Beyond signaling to the traditional world that decentralized ledger and blockchain technologies deserve further study, he mentioned “the networking opportunities with students from multiple disciplines like computer science, math or economics.”
The number one skill Jones believes the industry needs is “risk assessment and risk management.” Simply knowing the technological skills but not having a “fundamental understanding of market risk, operational risk, counterparty risk, protocol risk, regulatory risk, etc.” will result in the industry adoption of blockchain technology being “slow and uneven.”
Each of these programs has produced industry professionals who have gone on to work at the likes of Chainalysis, MakerDAO, Brainbot, TradeLens, ZTLment, Januar, Concordium and Reality+, among others.
For example, the European Blockchain Center and the University of the Cumberlands boast alumni Demelza Hays and Michael Tabone, respectively, who work for Cointelegraph as economists and researchers.
All the program directors interviewed have mixed opinions on the current state of the blockchain industry and how it values formal education.
Jones stated that while the industry does not particularly value formal degrees, “universities haven’t necessarily been good industry partners. Universities can be slow to introduce new and innovative curricula, and many universities are unwilling to pay top dollar to attract industry experts to teach students.”
Houillion added that it appears the “industry is looking for anyone that can handle positions” but that “a formal degree within the space would be desirable, especially when related to a non-developer/programmer role.”
Beck sees the industry as valuing formal degrees, but “what they really value is an education where students have developed a mindset to think decentralized, able to imagine and realize distributed value co-creation networks.”
What do blockchain recruiters say?
The higher education institutions named above are forward-thinking in preparing students for work in the blockchain and decentralized ledger technology industries. The hiring process in Web3, however, is not as traditional and does not necessarily hinge on formal credentials.
Cointelegraph wanted to get the other side of the proverbial coin and asked some Web3/blockchain recruiters their take on formal degrees and what they could mean for the industry in the future.
All the recruiters interviewed said they have had clients get hired with formal degrees. The easiest degrees to transition to the blockchain industry and that are in the most demand are technical in nature, such as coding and cryptography.
This makes sense, as the more highly specialized skills need to be filled first, especially in a nascent, growing industry. However, all believe that demand for individuals with additional qualifications but who have a firm background in the technical aspects will increase as the industry grows.
“I think that degree paths get people involved earlier, and it will legitimize the space even more,” Ryan Hawley, head of recruiting at Crypto Recruiters, told Cointelegraph. He added, “In time, [formal blockchain degrees] will be universally accepted.” He listed cryptography, smart contracts, database management and compliance as the top four in-demand skills employers seek.
David Lamb of CB Recruitment told Cointelegraph that formal blockchain degrees may be undervalued currently, as references are much more informal in Web3.
However, having formal degree paths would bring credibility not only to the industry in general but to a new pool of individuals who may not have entered the space if not for these programs.
From Lamb’s perspective, a formal degree in blockchain signals, at the very least, a passion for the sector, as well as a minimum exposure to the various elements necessary to make a blockchain professional:
“Demand is coming back into the market, and there are not enough good developers to go around. However, I would argue that non-technical specialists are equally important to the industry as it grows into a multitrillion-dollar industry.”
He went on to list marketing, operations, finance, legal, sales and research analysts as equally important jobs that Web3 firms will need as the industry matures.
Connor Holliman of Proof of Talent echoed some of these sentiments to Cointelegraph: “[Formal blockchain degrees] create an opportunity for scalability within the space. Current processes in onboarding people to use blockchain technology are like learning a foreign language. As someone who had no background in blockchain prior, I have had to go through trials and tribulations to truly learn how to transact on and use various blockchains. The more people that come into this space with formal backgrounds, the easier it will be to onboard the next billion users.”
Holliman said that as blockchain use cases expand, soft skills like communication between different parts of a Web3 business will be highly valued. Engineers, cryptographers and developer relations are three in-demand paths in Web3 today.
While no magic bullet will guarantee a degree holder a Web3 job, it may give candidates a potential leg up on the competition in the future. It is also a sort of incubator to work with other like-minded individuals who will all be trying to head into the field at the same time. This networking may be worth the price of admission alone, giving students the chance to create the next revolutionary Web3 project in this environment.
It’s common for pregnant women to experience some degree of morning sickness, but a smaller subset have severe, potentially debilitating nausea and vomiting — and now a new study has pinpointed the likely source of it.
A research team led by the University of Cambridge in the U.K. found that one specific hormone — GDF15 — is the culprit behind hyperemesis gravidarum, which is a condition that causes intense morning sickness during pregnancy.
The study findings were published in the journal Nature on Dec. 13.
Among 120 pregnant women who participated in the research, the half who experienced nausea and vomiting were found to have “substantially higher” levels of GDF15 than the half who had little or no morning sickness.
“We have securely established, for the first time, using well-validated immunoassays and large sample sizes, that GDF15 levels in maternal blood are significantly higher in women who report vomiting in pregnancy, or have a diagnosis of hyperemesis gravidarum, compared to women who report no or low levels of nausea or vomiting,” said study co-author Stephen O’Rahilly, a metabolism researcher at the University of Cambridge.
A small subset of pregnant women have severe, potentially debilitating nausea and vomiting — and now a new study has pinpointed the source.(iStock)
He shared his thoughts in an email sent to Fox News Digital.
GDF15 is produced primarily by the fetus during early pregnancy. Some women are more sensitive to the hormone, putting them at a higher risk of developing severe morning sickness.
The hope is that this finding will enable more treatment options for women suffering from hyperemesis gravidarum, researchers said.
“We now have a clear view of what may cause this problem and a route for both treatment and prevention,” said O’Rahilly.
One specific hormone — GDF15 — is the culprit behind hyperemesis gravidarum, according to a new study. It’s a condition that causes intense morning sickness during pregnancy.(iStock)
Women who had higher levels of GDF15 before getting pregnant were significantly less likely to develop severe sickness, the study found — only 5% of them developed the condition compared to 60% of the general population.
With this in mind, one potential remedy would be to administer the hormone to high-risk women before pregnancy to allow them to acclimate to it and prevent severe symptoms.
“Our data tentatively suggest that a doubling of pre-pregnancy GDF15 levels would reduce hyperemesis gravidarum risk by 50%,” said O’Rahilly.
Among 120 pregnant women who participated in the research, the half who experienced nausea and vomiting were found to have “substantially higher” levels of GDF15 than the half who had little or no morning sickness.(iStock)
“Metformin, a widely used drug that has been given to people with diabetes for over five years, increases GDF15 levels by two- to three-fold and is widely used in pregnancy in many countries.”
Some signs of hyperemesis gravidarum include vomiting more than three times per day, developing severe dehydration and losing 10 pounds or more, according to the Cleveland Clinic website.
“There is considerable overlap between symptomatic and asymptomatic women, so GDF15 levels alone cannot be responsible for determining who is and who is not affected, nor can it be used as a diagnostic test for hyperemesis gravidarum,” said O’Rahilly.
Brandon Staley doesn’t know whether he’ll continue to be the head coach of the Los Angeles Chargers, but he does believe that he should be.
The Chargers looked lifeless in Thursday night’s blowout loss to the Las Vegas Raiders, a team that came off a 3-0 loss just five days earlier.
Running back Brandon Bolden, #34 of the Las Vegas Raiders, celebrates after scoring a touchdown with teammate tight end Michael Mayer, #87 against the Los Angeles Chargers, during the second quarter at Allegiant Stadium on December 14, 2023, in Las Vegas, Nevada.(Candice Ward/Getty Images)
Trailing 42-0 by halftime and allowing more than 57 points was a historic low for the team that played without quarterback Justin Herbert, who watched from the sidelines after undergoing season-ending surgery on his hand.
“We just didn’t have a good game tonight,” Staley told reporters after the game. “We didn’t have it from the beginning to the end. Just one of those games where nothing went right for us. And we’ve got a good group of guys, but it was just one of those games where all three phases – the worst thing happened to us tonight.”
But it wasn’t a “normal occurrence” in the league, as some reporters pointed out. The 42-point deficit by halftime has only been seen twice before, according to The Associated Press, once in 2014 by the Green Bay Packers over the Chicago Bears and in 1983 with the Packers over the Tampa Bay Buccaneers.
Naturally, Staley’s future with the team was the topic of conversation. When asked whether he thought he would be head coach on Friday, he responded, “I don’t know that.”
Head coach Brandon Staley of the Los Angeles Chargers walks off of the field after losing to the Las Vegas Raiders, 63-21, at Allegiant Stadium on December 14, 2023, in Las Vegas, Nevada. (Sean M. Haffey/Getty Images)
“Yes,” he said when pressed further about whether he thought he should be.
“I know what I’ve done here for three years, and I know what I put into this. I know that we’re capable of going. I know the type of coach that I am, I believe in myself. But again, this isn’t about me. This is about a group that’s hurting in there. We’ve gotta get some rest, and we’ve gotta get ready for Buffalo.”
Staley took ownership of the Chargers’ breakdown, saying he “didn’t do anything well enough” to prepare the team for Thursday’s game. But when asked why that would mean he should remain head coach, Staley suggested: It happens.
“Games like this happen in the NFL – to every coach that’s ever coached in this league. You can look at any great coach that’s ever coached in the league, sometimes games like this happen. And I don’t need to retrace history, but it’s part of sports. Sometimes there are games where it doesn’t go right, none of it. And you’ve gotta put it behind you, and you’ve gotta move on to the next thing.”
Head coach Brandon Staley of the Los Angeles Chargers looks on from the sideline against the Las Vegas Raiders during the fourth quarter at Allegiant Stadium on December 14, 2023, in Las Vegas, Nevada. (Sean M. Haffey/Getty Images)
Renewable Bitcoin mining firm Iris Energy is set to increase its total hash rate to 10 exahash per second (EH/s) in 2024 by acquiring new Bitmain T21 mining rigs.
The company announced that it had acquired an additional 1.6EH/s of Bitmain T21 miners, set for delivery in the second quarter of 2024. The company currently has 5.6 EH/s of operational capacity as of Dec. 2023.
The newest generation of Chinese manufacturer Bitmain’s mining hardware will also improve the efficiency of Iris’ operations from 29.5 joules per terahash (J/TH) to 24.8 J/TH. Iris invested $22.3 million in the latest order from Bitmain, pricing the hardware at $14 per terahash.
Iris expects to bring 1.4EH/s of mining output by powering up a previous order of Bitmain S21 miners in the first quarter. It is also awaiting a different batch of Bitmain T21 miners, increasing its capacity by 1.3 EH/s.
Iris announced the 80MW expansion of its Childress data center operation in Texas in June 2023. The company has indicated that additional operational capacity will be delivered from Jan. 2024 onwards, allowing for the increase in operating hash rate up to 10EH/s as it receives new hardware from Bitmain.
The company also plans to build another 100MW of data centers at the site, which is made possible by providing an additional 500MW of power capacity that is already available to the operation.
While Iris has primarily been focused on Bitcoin mining, it has expanded its data center to service the growing demand for generative artificial intelligence (AI) computing. Iris invested $10 million in Aug. 2023 to buy 248 state-of-the-art Nvidia H100 GPUs, which were set to be delivered through the remainder of the year.
The company currently operates data center facilities in different sites across North America, including Canal Flats, Mackenzie, Prince George in Canada’s British Columbia, and its Childress site in Texas.
Iris maintains that its four operations make 100% use of renewable energy, with the respective data centers drawing power from a mix of wind, solar and hydroelectric power sources. A disclaimer on its website notes that its three Canadian sites draw 98% of power from renewables. The remainder of its energy use is offset by purchasing renewable energy certificates.
Oregon State Beavers quarterback Aidan Chiles runs the ball in open space during the second half of the game against the Stanford Cardinals at Reser Stadium on Nov. 11, 2023 in Corvallis, Oregon.(Ali Gradischer/Getty Images)
Appearing in nine games for Oregon State as the backup to DJ Uiagalelei, the former four-star recruit from California threw for 309 yards and four touchdowns, and ran for three scores in his change-of-pace role.
Chiles follows his head coach Jonathan Smith, who was named the Spartans’ head coach last month after Mel Tucker’s firing.
Michigan State also had backup quarterbacks Noah Kim and Sam Leavitt enter the portal, so Smith has been searching for a starter.
Oregon State Beaver quarterback Aidan Chiles warms up before a game against the Colorado Buffaloes at Folsom Field on Nov. 4, 2023 in Boulder, Colorado.(Dustin Bradford/Getty Images)
The Spartans are coming off a 4-8 season, their lowest win total in a full season since they won just three games in 2016. It was the first time they were not bowl eligible in consecutive seasons since 2005 and 2006.
Houser completed 112 of his 191 passes (58.6%) for six touchdowns and five interceptions. Houser took over for Kim on Sept. 23 against Maryland and was named the starter two weeks later against Rutgers and held that spot for the rest of the season. In his five starts, Kim went 91-for-160 (56.9%) for six touchdowns and six interceptions.
Kim will be transferring to Coastal Carolina, while Houser’s destination remains to be seen.
Michigan State Spartans quarterback Katin Houser, #12, passes the ball to his teammate during a college football game between the Penn State Nittany Lions and the Michigan State Spartans on Nov. 24, 2023 at Ford Field in Detroit.(Joseph Weiser/Icon Sportswire via Getty Images)
The COVID-19 pandemic, rampant inflation and regional conflicts directly influenced Bitcoin’s (BTC) drop in value over the past two years. However, 2024 promises to be a resurgent period, according to Blockstream CEO Adam Back.
The cryptographer, who pioneered the proof-of-work algorithm applied in Bitcoin’s protocol, tells Cointelegraph that the preeminent cryptocurrency is trailing below the historical price trend line of previous mining reward halving events.
“Biblical” events hurt Bitcoin
Back weighed in on the potential price action of Bitcoin as the next halving approaches, which will see Bitcoin miners’ block reward reduced from 6.25 BTC to 3.125 BTC. Block reward halvings are programmatically hardwired into Bitcoin’s code, taking place after every 210,000 blocks.
Bitcoin’s supply issuance is hardwired into its protocol, with BTC mining rewards halving every 210,000 blocks. Source: bitcoinblockhalf.com
Back says that the overlaid averages of the previous market cycles and halvings indicate that Bitcoin’s relative value is trailing behind widely accepted projections. Multiple events have played a role in driving the price of BTC down, which has also been seen across traditional financial markets:
“The last few years were like biblical pestilence and plague. There was COVID-19, quantitative easing and wars affecting power prices. Inflation running up people, companies are going bankrupt.”
The impact has keenly affected markets and portfolio management, according to Back. Investment managers have had to manage risk and losses over the past few years, which has necessitated the sale of more liquid assets.
“They have to come up with cash, and sometimes they’ll sell the good stuff because it’s liquid and Bitcoin is super liquid. It used to happen with gold, and I think that’s a factor for Bitcoin in the last couple of years,” Back explains.
Bitcoin would have hit $100,000 already
As 2023 comes to a close, many of these macro events that Back cited have wound down, while more industry-specific failures have also been resolved. This has been reflected in Bitcoin’s recent price surge from Nov. 2023 onwards.
“The wave of the contagion, the companies that went bankrupt because they were exposed to Three Arrows Capital, Celsius, BlockFi and FTX — that’s mostly done. We don’t think there are many more big surprises in store,” Back said.
The Blockstream CEO predicted that Bitcoin would hit $100,000 in the following market cycle earlier this year and referred back to this point. He believes BTC would have hit this mark already if not for the factors highlighted in conversation with Cointelegraph.
Back also referred to the Bitcoin “stock-to-flow” model created by pseudonymous former institutional investor PlanB as a reference point for the potential upside for Bitcoin in 2024.
Back explains that PlanB’s model and heuristics suggest that savvy Bitcoin investors historically bought BTC six months before a halving event and sold into significant surges in price that have occurred in the 18 months following the drop in mining rewards:
“People thought it was a bit of a crazy assertion that we might get to $100,000 pre-halving because I said it when the price was around $20,000.”
He adds that Bitcoin’s price hitting $44,000 multiple times in Dec. 2023 suggests that his prior prediction might not be so far-fetched.
People asking me if we changed odds. No, we still holding line at 90% odds of approval by Jan 10 (aka this cycle), the same odds we’ve had for months (before it was cool/safe). What we watching for now: more amended/final filings to roll in and clarity on in-kind vs cash creates https://t.co/uiWgfxOfzz
Senior ETF analysts Eric Balchunas and James Seyffart have touted these applications to get the green light in early 2024. Galaxy Digital’s co-founder Michael Novogratz has also predicted mass inflows of institutional investment into the BTC-back products, a point which Back echoes:
“I thinkBitcoin could get to $100,000 even before the ETF and before the halving. But I certainly think the ETF shouldn’t be undervalued in its influence.”
A key reason cited by the Bitcoin advocate is that whole segments of traditional markets, including major fund managers like BlackRock and Fidelity, are simply not allowed to invest directly into assets like Bitcoin.
“If they’re managing a mutual fund they have rules, either externally imposed or as part of their fund, that they can only buy things like public stocks and ETFs. They can’t buy into startups, they can’t buy precious metals physically. They can’t do any of that stuff,” Back highlights.
This remains a pertinent reason why a spot Bitcoin ETF could drive major capital inflows into the space. Back adds that the investment vehicle opens access to Bitcoin exposure for many types of funds, particularly in the U.S., that are more inclined to do so through Fidelity or BlackRock than with a cryptocurrency exchange.
