Latest news of cryptocurrency

Answered at Oct 28, 2024

Latest Cryptocurrency News

Bitcoin and Market Movements

  • Bitcoin's Price Fluctuations: Bitcoin was on the verge of reaching $70,000 again. However, a report about a criminal investigation into a stablecoin issuer caused a significant drop in its price (source).

  • BTC Recovery: After a recent decline, Bitcoin has bounced back to $68,500. This recovery is part of the latest price movements in the crypto markets (source).

Regulatory Developments

  • Netherlands Crypto Tax Bill: The Netherlands has started consultations on a new crypto tax reporting bill. This bill would require crypto services to share user data with tax authorities (source).

  • Pennsylvania's Crypto Bill: The Pennsylvania House of Representatives passed a bill aimed at providing regulatory clarity for digital assets. This includes self-custody rights, Bitcoin payments, and transaction taxation (source).

Innovations and Technology

  • Tokenized Funds by Lazard: Lazard, a Wall Street financial services firm, plans to create tokenized funds in collaboration with Bitfinex Securities. This move highlights the growing trend of tokenizing conventional financial products (source).

  • AI and Blockchain Integration: Protocol Village is working on integrating AI across blockchain networks with projects like Nuffle and OpenGradient. This aims to enable trust-minimized AI integration (source).

Market Analysis and Predictions

  • MicroStrategy's Premium: Steno Research suggests that the premium on MicroStrategy's stock, relative to its Bitcoin holdings, may not last. The launch of options on spot Bitcoin ETFs in the U.S. could reduce investor incentives to hold MicroStrategy stock (source).

  • Core Scientific's AI Demand: Investment bank Jefferies has initiated coverage of Bitcoin miner Core Scientific with a buy rating and a $19 price target. The company is well-positioned to capture AI demand (source).

Global and Political Impacts

  • Elections and Crypto Policy: The 2024 elections in the U.S., Asia, Europe, and Africa are expected to influence the global regulatory framework for Bitcoin and crypto. These elections could shape future policies and regulations (source).

  • Georgia's Political Focus: In Georgia, the elections focused more on the country's alignment with the European Union or Russia, rather than on crypto policy (source).

Miscellaneous

  • Hong Kong's Crypto Index: Hong Kong Exchanges and Clearing plans to launch a crypto index on November 15. This move is part of the region's efforts to integrate more with the crypto market (source).

  • Activist Group vs. Kalshi's Market: An activist group argues that Kalshi’s election market should be shut down due to alleged manipulative practices by large investors (source).

This summary provides a snapshot of the latest developments in the cryptocurrency world, highlighting key market movements, regulatory changes, technological advancements, and political influences.