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Crypto Daily Roundup, 15 Jan: Bitcoin Post-ETF Approval Puzzle Unfolds

15-Jan-2024 By: Lokesh Gupta
Crypto Daily Roundup

Cryptocurrency prices have surged during the previous 24 hours.

TOP 5 Gainers Coins

IndicesLTPChange (%)

Crypto News Key Highlights:

  • Binance faces challenges in India amid the government's crackdown on offshore crypto exchanges. Several international platforms, including Binance, were blocked, prompting reassurances about fund safety. Binance warns against VPN use and urges patience as it addresses government issues. Competitors like WazirX and CoinDCX see increased user traction.

  • OpenSea is developing OpenSea 2.0 to enhance NFT user experience, allowing tailored displays for various use cases. The upgrade addresses security concerns, offers a pro trading interface, and stays optimistic about Ethereum's role in NFTs. Despite challenges and staff cuts, CEO Devin Finzer focuses on long-term success beyond short-term market dynamics.

  • Fidelity predicts a revival in institutional interest for DeFi and stablecoins if the Federal Reserve cuts interest rates in 2024. The report suggests that improved infrastructure could make DeFi yields more attractive, while stablecoins may see increased adoption in settlements, payments, remittances, and international trade as TradFi firms explore their use.

  • Celsius, facing financial challenges, shifted $125 million in ETH to exchanges for creditor repayment, with $95.5 million to Coinbase and $29.7 million to FalconX. Despite this, Celsius still holds over 550,000 ETH. FTX and Alameda, also in financial distress, transferred $28 million to exchanges, aiming to repay creditors after declaring bankruptcy in November. FTX has successfully reclaimed $7 billion in assets, and creditors may see reimbursements this year.

  • Renowned author Robert Kiyosaki advocates Bitcoin, gold, and silver as hedges against national financial crises, citing a trillion-dollar increase in US debt during the NFL season. Kiyosaki views Bitcoin as a decentralized store of value, predicting its rise to $150,000 amid economic uncertainties and increasing adoption, supported by recent SEC-approved Bitcoin ETFs.

  • BlackRock's "boring" ad for its iShares Bitcoin Trust ETF (IBIT) is seen as effective for targeting wealthy boomers. The calm, straightforward approach, lacking crypto jargon, contrasts with competitors' flashy ads. Analysts note the success in gaining trust among older investors for traditional finance-backed Bitcoin investments.

  • Elon Musk, celebrating SEC's approval of 11 spot Bitcoin ETFs, expressed openness to using Bitcoin on Mars. Despite minimal interest in Bitcoin on Earth, Musk suggested a localized Lightning Network for Mars. His futuristic plans include a human colony on Mars, sparking speculation about Bitcoin and Dogecoin payments on his upcoming platform, X.

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, 14 Jan: Bitcoin Price Crumbles, but What's the Real Story

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