Communications

Bitcoin is regaining bullish momentum following dovish forecasts from the U.S. Federal Reserve, with an increase of over 134% this year. Currently, Bitcoin is trading above $38,000, reaching a peak of $38,223, which represents a 3.5% increase in 24 hours and nearly 3% over a week.

New bombshell in the industry. Binance, the world’s largest cryptocurrency exchange platform, has settled accusations of violating U.S. sanctions and money transfer laws by paying a record fine of $4.3 billion. Its founder, Changpeng “CZ” Zhao, pleaded guilty to personal offenses and resigned as CEO, leaving the leadership to Richard Teng.

Bitcoin experienced a significant surge over the past week, surpassing $37,000 per coin, reaching an 18-month high, fueled by optimism about the potential approval of a Bitcoin exchange-traded fund (ETF). This rise marks a significant recovery after the collapse of the Terra project, which had triggered a crypto winter.

The former cryptocurrency mogul Sam Bankman-Fried was found guilty by a jury in New York of fraud, conspiracy, and money laundering. The jury, comprising nine women and three men, concluded that the FTX founder was guilty on seven counts of fraud and conspiracy.

Exactly 15 years ago yesterday, the still unknown Satoshi Nakamoto published the Bitcoin white paper. This marked the beginning of a financial revolution where technology finally allowed for direct financial transactions without the need for a financial intermediary. On this significant anniversary, why not take the time to read or reread this historical document?

“Where there’s smoke, there’s fire?” The excitement surrounding a spot exchange-traded fund (ETF) has significantly stimulated the cryptocurrency market over the past seven days, breaking through the consolidation channel that has been in place for the last seven months. This sudden bullish action is particularly encouraging as it is happening during a bearish trend in the US stock indices and while gold refuses to break through its own accumulation channel in the current persistent inflationary context.

We’ve had a particularly interesting week in terms of price action for bitcoin. After a judgment against the SEC in its decision to prevent Grayscale from converting GBTC into a spot ETF, the price quickly approached $28,000. Then, on Monday, the erroneous announcement of the acceptance of such a spot ETF via social media sent prices soaring before the announcement was revised. This situation has been very enlightening.

Another rather quiet week on cryptocurrency markets, so it’s the industry news that’s grabbing attention. Unsurprisingly, much has been written about Sam Bankman-Fried’s trial in recent days as it’s in full swing.