Altcoins
Standard Chartered Says BTC Could Reach $100,000 by 2025, Bank of Korea Allowed to Investigate Crypto Trading Operators, US Judge Orders Hydrogen to Pay $2.8 Million in Penalties
Last Updated: January 8, 2024 11:37 AM EST | 3 minutes of reading
Get your daily digest of cryptoasset and blockchain news, investigating the stories that are flying under the radar in today’s crypto news.
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Bitcoin News
- Chartered standard said crypto winter is over and Bitcoin (BTC) could reach $100,000 by end of 2024, Reuters reported, citing a note from the multinational bank’s head of digital assets research, Geoff Kendrick. Bitcoin could benefit from factors such as recent turmoil in the banking sector, a stabilization of risk assets like US Federal Reserve ends its rate hike cycle and improves the profitability of cryptocurrency mining. “While sources of uncertainty remain, we believe the path to the $100,000 level is becoming clearer,” Kendrick said.
Regulatory news
- The central bank of South KoreaTHE Bank of Korea (BoK), will have the right to investigate operators of crypto-related businesses, The Korea Herald reported. The BoK competes with the country’s financial regulator, the Financial Services Commission (FSC), on crypto jurisdiction, he added. The FSC will have the final say in regulating the digital assets sector.
Legal news
- A district court judge in New York, United States spoke out against financial technology company Hydrogen Technology Company and its former CEO Michael Ross Kane in a costume brought by the Security and Exchange Commission (SEC), ordering them to pay $2.8 million in reparations and civil penalties. This includes approximately $1.5 million in “disgorged” profits (gains from illegal conduct) and a fine of more than $1 million. The second alleged that Kane used Hydrogen’s market maker Moonwalkers Trading Limited for a scheme that manipulated the volume and price of its HYDRO token.
Investment News
- Technology investor Global Tiger ManagementThe $12.7 billion venture capital fund, launched in 2021, had generated a paper loss of 20%, net of management fees, in December last year, according to to a report from The Information, citing private documents. This situation worsened compared to an 8% loss recorded in June 2022 and an 11% loss in September of the same year, the report said. In total, the venture fund has backed some 250 projects, but more than 170 were worth less in December last year than when the company made its first investment.
Payments News
- Financial services company January ApS announced that it had received its full payment institution license from the Danish Financial Supervisory Authority (DFSA). “The issuance of the license is an important milestone for the fast-growing company and paves the way for onboarding customers across the European Economic Area (EEA),” the press release said. said. The company added that it has seen significant interest from customers outside its local market of Denmark and will actively begin onboarding and serving these customers across Europe.
NFT News
- Romania National Institute of Research and Development in Computer Science (ICI Bucharest) aims to launch an internal non-fungible token (NFT) Exchange platform. By Cointelegraph, the institutional NFT platform, HERE D|Serviceswill go live on April 26 and will primarily serve as an NFT marketplace, allowing public and institutional users to create, manage and trade NFTs.
Challenge News
- IOTA launched the Treasures of Shimmer incentive campaign, a campaign led by the Tangle Ecosystem Associationwhich will begin on May 3. It will offer 1,300,000 SMR tokens as rewards to participating decentralized applications (dapps) and their users to test the EVM test chain. Shimmer will be the official incentivized staging network of IOTA, with its native Shimmer token (SMR) and an independent ecosystem. “During this two-week campaign, the public will have an unprecedented opportunity to test the dApps deployed for SMR token rewards by creating as many smart contract activities as possible. The more activity created using dApps, the greater the SMR token reward for the project and its users. said.
Blockchain news
- A study from an independent think tank The money merchants revealed that Ethereum is the 1st most sought-after proof of participation (Point of sale) crypto in the United States, followed by Polygon (MATIC) in 2nd place. The team analyzed Google Trends over the last 90 days for the top 5 PoS cryptocurrencies based on their total market capitalization. 28 US states (54.9%) are interested and looking for Ethereum crypto, 18 states (35.3%) are interested in Polygon, 4 states (7.8%) are most interested in Cardanoand 1 state is most interested in Solanawhile Peas “has not yet entered the United States,” the study said.