Today in crypto, Jack Dorsey sparked fresh debate around the status of Bitcoin and cryptocurrencies, the former New York Governor Andrew Cuomo has made crypto and AI one of his headline pitches in his bid to win the New York City mayoral race, and US President Donald Trump confirms a meeting with China’s President Xi Jinping.
What is Bitcoin if not crypto? Rumored Satoshi Nakamoto weighs in
Jack Dorsey, the creator of Twitter and a strong supporter of Bitcoin, has reignited debate in the crypto community with his latest comments on what BTC truly is.
Dorsey took to X on Sunday to post a brief message stating “Bitcoin is not crypto,” prompting a massive response with more than 4,000 comments.
While some argued that the anonymous BTC creator Satoshi Nakamoto described Bitcoin (BTC) as a “peer-to-peer cryptocurrency” on the Bitcointalk forum back in 2010, Dorsey highlighted the word “currency,” underscoring its monetary roots.
An early Bitcoin adopter himself, Dorsey has long been rumored to have played a role in Bitcoin’s creation. Earlier this year, Seán Murray of deBanked published a list of circumstantial evidence suggesting as much, though it remains unverified.
Dorsey denied being Nakamoto in a 2020 interview with Lex Fridman, stating: “No, and if I were, would I tell you?”
Looking at Bitcoin’s origins, Dorsey said the Bitcoin white paper — the foundational document introducing BTC in 2008 — makes no reference to “crypto,” backing his argument that BTC stands apart from the broader industry.
Instead, the white paper describes Bitcoin as a “purely peer-to-peer version of electronic cash” and an “electronic payment system based on cryptographic proof instead of trust.”
In a Bitcointalk post in July 2010, Satoshi Nakamoto also referred to Bitcoin as a “digital currency using cryptography and a distributed network to replace the need for a trusted central server.”
Andrew Cuomo pitches crypto-fueled comeback in NYC mayoral bid
Former New York governor Andrew Cuomo is reportedly betting big on crypto and AI as part of his bid to return as the city’s next mayor.
The New York City mayoral candidate plans to make NYC “the global hub of the future” by coordinating initiatives across the blockchain, AI and biotech industries and modernizing how the city integrates new technology, the co-host of Crypto in America, Eleanor Terrett, said on Saturday.
Part of this will also involve creating a new chief innovation officer position aimed at attracting more investments and jobs to boost innovation, she said.
An Innovation Council with three advisory committees for crypto, AI and biotech would be formed to “advise on adoption, workforce development, and cutting red tape for these emerging industries,” Terrett added, citing unnamed sources familiar with the matter.
Trump confirms meeting with China’s president, causing crypto to surge
United States President Donald Trump confirmed on Sunday that he will meet with China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul, South Korea, on October 31, backtracking on his previous comments that there was “no reason” to attend the meeting.
“We’re going to meet in a couple of weeks. We’re going to meet in South Korea, with president Xi and other people, too,” Trump told Fox News’ Maria Bartiromo. He added:
“[Xi Jinping] is a very strong leader, a very amazing man. You can look at what he’s done, where he is in his life. It is an amazing story. It’s a story for a great movie. I think we’re gonna be fine with China, but we have to have a fair deal. It’s going to be fair.”
Crypto markets reacted positively to the news, as any development that eases geopolitical and trade tensions tends to boost assets perceived as riskier by investors.
