FameEX Morning Crypto News Recap | January 10, 2024

Standard Chartered Predicts BTC May Reach $200K by 2025 if Spot Bitcoin ETF Gets Approved

Standard Chartered forecasts a potential surge in bitcoin's value to $200,000 in 2023, contingent upon the U.S. Securities and Exchange Commission (SEC) approving spot bitcoin ETFs. The bank's analysts view such approval as a pivotal moment for institutional investment in bitcoin, anticipating it would trigger considerable capital inflows and a substantial increase in bitcoin's price.

SEC's Approval of Spot Bitcoin ETF Falsely Announced - Chair Gary Gensler Reveals SEC's X Account Hacked

The U.S. Securities and Exchange Commission (SEC)'s X account prematurely declared the approval of spot bitcoin ETFs on Tuesday. Shortly after, SEC Chairman Gary Gensler clarified that the account was hacked, labeling the post unauthorized. Speculation arose about the possibility of an internal SEC mistake leading to this hasty announcement about the bitcoin ETFs.

CFTC Report Suggests Defi Could Bolster U.S. Dominance in Technology and Financial Services Sector

A study by the Commodities Futures Trading Commission (CFTC) has identified that decentralized finance (Defi) projects and ecosystems present both opportunities and risks to the U.S. financial system. The report suggests a gap analysis of existing capabilities and resources, recommending the allocation of additional funding, personnel, and tools to address any critical deficiencies identified.

Cleanspark Enhances Bitcoin Mining Capabilities with Purchase of 60,000 S21 Rigs from Bitmain

Nasdaq-listed bitcoin mining company Cleanspark announced the purchase of 60,000 S21 miners from Bitmain, scheduled for delivery in the upcoming quarter. This acquisition significantly boosts their operations, adding approximately 12 exahash per second (EH/s) of hashing power to their mining capabilities.

'Intense Greed' — Surge in Bitcoin's Price Results in Peak Fear and Greed Index Level Since 2021

Bitcoin's recent price, nearing $47K, has led to the Crypto Fear and Greed Index (CFGI) hitting 76 on January 9, 2024, indicating a state of "extreme greed." This level of market sentiment has not been observed since the cryptocurrency's bull run in November 2021, marking a significant shift in investor behavior and market dynamics.

Attorneys and Political Figures Urge Probe into SEC Regarding Bitcoin ETF Announcement

U.S. lawyers and senators are urging Congress to initiate an investigation into the Securities and Exchange Commission (SEC) following a breach of its X (previously known as Twitter) account. This incident involved the unauthorized dissemination of false information regarding the approval of spot Bitcoin exchange-traded funds (ETFs).

EU Considers Examining Microsoft’s OpenAI Investments Under Merger Control Rules

The European Commission is considering a review of Microsoft's 49% investment in OpenAI, the creator of ChatGPT, under the EU Merger Regulation. This potential investigation aims to assess if the tech giant's stake in the AI company warrants scrutiny within Europe's regulatory framework for mergers and acquisitions.

Stablecoin Transfers to Exchanges Surge as Investors Gear Up for Spot Bitcoin ETF Verdict

Market data from CryptoQuant indicates a notable increase in stablecoin holdings in crypto exchange wallets, rising from $18.05 billion on January 1 to over $19.99 billion by January 7. This surge in stablecoin inflows corresponds with a renewed bullish trend in the cryptocurrency market, driven by anticipation of a potential spot Bitcoin ETF approval in the United States.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.