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Crypto Daily Roundup, 07 Feb: Market Holds Steady Amid Flux

07-Feb-2024 By: Lokesh Gupta
Crypto Daily Roundup

Crypto prices have declined during the previous 24 hours

Top 5 Losers Coins

IndicesLTPChange (%)
Frax Share$9.288.23%
Ethereum Name Services$20.716.51%

Crypto News Key Highlights:

  • A groundbreaking achievement in nuclear fusion opens the door to nearly limitless energy, heralding significant advancements in AI and quantum computing. The successful demonstration of inertial confinement fusion at NIF marks a pivotal moment, laying the groundwork for sustainable energy solutions. Fusion's far-reaching implications span across various industries, catalyzing innovation and nurturing a greener tomorrow.

  • South Korea seeks clarity on how the US greenlit spot Bitcoin ETFs, emphasizing the necessity for international collaboration. While the US gives the green light to spot Bitcoin ETFs, South Korea faces regulatory gaps, underscoring discrepancies. Effective cooperation between South Korea and the US is essential to establish harmonized global cryptocurrency regulations.

  • OKX expands partnership with SignalPlus, integrating advanced trading tools into its platform. CEO Lennix Lai aims to enhance user experience and crypto adoption. SignalPlus Co-Founder Chris Yu prioritizes seamless trading amid market recovery, highlighting commitment to accessible crypto software.

  • Cathie Wood of ARK Invest heralds Bitcoin's ascent as a safe investment, eclipsing gold. Bitcoin's resilience during financial turmoil and accessibility through ETFs catalyze the shift. Despite volatility concerns, ARK remains bullish, diversifying into Coinbase, underscoring confidence in cryptocurrencies.

  • JPMorgan raises compliance and transparency concerns regarding Tether, preferring stablecoins such as USDC. Tether's CEO defends the stablecoin, highlighting regulatory collaboration and enhanced transparency. FTX exchange confronts legal issues, prioritizing customer compensation over relaunch efforts amidst CEO's legal battles.

  • Billionaire crypto investor Arthur Hayes predicts NYCB's potential bankruptcy amid Moody's downgrade and stock plunges. He anticipates Bitcoin's rally with Fed money printing. Shareholders sue NYCB over alleged fraud in concealing loan reserves and dividend cuts.

  • SEC introduces new regulations for cryptocurrency transactions, aiming to protect investors in DeFi. US House Republicans criticize broadening of "dealer" definition, fearing market disruption. Peter Schiff condemns SEC's regulatory overreach, emphasizing the need for legislative authorization in defining terms.

  • Singapore asserts itself in global AI with robust partnerships and initiatives like the National AI Strategy 2.0 and AI Trailblazers program. Meanwhile, Microsoft CEO Satya Nadella eyes India's AI potential, launching initiatives to train 2 million people, driving economic growth and innovation in a competitive AI landscape.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. #Cryptocurrency and #NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also read - 24 Crypto Update, 06 Feb: BTC Holds Steady Amid Market Flux

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