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Top Performing Assets (24 Hours): $ADA 11.29% | $SOL 6.94% | $BTC 4.51%
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Welcome to Thursday Folks! Bitcoin is trading down at $44,826.55 and wants to push higher $45K in sight. The news is very anemic rn, lots of noise and repeated stories but nothing really significant; sometimes tells me big news is on the horizon...
SUMMARY
Yesterday, MicroStrategy smashes the buy button once again in January and buys another 850 $BTC; now holding 190K.(6) Today, Bakkt is going bust.(6)
Crypto is no longer a gamble for most Americans. Leveraged traders are in control as Bitcoin breaks $45K and miner selling is easing; is $48K next with the Chinese New Year coming soon?(6) Bitcoin ETFs bough $145M in $BTC and trading volume is up to $1B. Physically backed Bitcoin ETFs, like the Bitwise Bitcoin ETF, are safer than any other ETFs due to their unique accounting system, says Core Scientific founder Darin Feinstein.(2)
Ethereum investors have over the span of just three weeks moved over 500,000 tokens off of cryptocurrency exchanges, in outflows that represent around $1.22 billion and reduce the supply of ETH on trading platforms significantly. Ark21 Shares refile their $ETH ETF. 25% of all $ETH is staked.(3) Hut 8 CEO steps down.(3) SEC might be forced to declare Ethereum a security with the launch of the Prometheum exchange.
A kind of ‘money middleware for the digital age,’ the M^0 smart contract ruleset aims for institutional grade stablecoins that are decentralized and interoperable.
Do Kwon will not be sent to the US.(7) Blockchain auditing firm Hacken claims to have found an XRP-affiliated wallet predating the recent $112.5 million exploit on Ripple co-founder and chairman Chris Larsen’s personal wallets. Ransomware Makes Comeback With Over $1,000,000,000 Extorted in 2023, According to Chainalysis. Craig Wright appeared shaken during his cross-examination on Wednesday while delivering increasingly complicated explanations as to why his documents appeared forged. Sam Bankman-Fried to return to court for hearing over legal representation.
AFTERNOON
Bitcoin ETFs now hold more $BTC than MicroStrategy. BlackRock, the world's largest asset manager, reportedly thinks Bitcoin will experience a significant increase in its portfolio in the coming years. Meanwhile, Banking giant JPMorgan's survey found that 78% of institutional traders aren't planning to trade cryptocurrencies in the next five years.
WATCH
LISTEN
Podcast of the Day: #1307 Alex Kruger | Bitcoin ETF Is A Trojan Horse! | TPP
