FameEX Morning Crypto News Recap | January 10, 2024

Standard Chartered Forecasts BTC to Potentially Hit $200K by 2025 Following Spot Bitcoin ETF Approval

Standard Chartered predicts bitcoin could reach $200,000 in 2023 if the U.S. SEC approves spot bitcoin ETFs. The bank's analysts believe this approval would be a key moment for bitcoin, attracting substantial institutional investment. They expect this development to significantly boost bitcoin's price due to the anticipated large-scale capital influx.

SEC's Spot Bitcoin ETF Endorsement Erroneously Declared - Gary Gensler Reports Breach of SEC's X Account

The SEC's X account unexpectedly announced the approval of spot bitcoin ETFs, but SEC Chairman Gary Gensler soon stated the account had been compromised, rendering the post unauthorized. This incident led to speculation about a potential internal error at the SEC being responsible for the premature release of information regarding the bitcoin ETFs.

CFTC Report Indicates Defi May Enhance U.S. Leadership in Tech and Financial Services Industry

The Commodities Futures Trading Commission (CFTC) study reveals decentralized finance (Defi) projects pose both potential benefits and challenges to the U.S. financial system. It recommends a thorough gap analysis of current capabilities and resources, followed by the provision of extra funding, staff, and tools to mitigate any significant gaps discovered.

Cleanspark Boosts Bitcoin Mining Strength by Acquiring 60,000 S21 Rigs from Bitmain

The Nasdaq-listed bitcoin mining enterprise Cleanspark recently confirmed buying 60,000 S21 miners from Bitmain, expected for delivery in the following quarter. This significant acquisition will notably elevate their mining operations by adding around 12 exahash per second (EH/s) to their overall hashing capacity.

'Heightened Greed' — Bitcoin Price Increase Causes Highest Fear and Greed Index Rating Since 2021

As Bitcoin approaches $47K, the Crypto Fear and Greed Index (CFGI) reached a high of 76 on January 9, 2024, signaling a phase of "extreme greed." Such a sentiment level in the market has been unprecedented since Bitcoin's bull run in November 2021, representing a notable change in investor attitudes and overall market trends.

Legal Experts and Politicians Demand Inquiry into SEC's Bitcoin ETF Announcement

American attorneys and senators have called for Congress to investigate the Securities and Exchange Commission (SEC) after its X account (formerly Twitter) was compromised, leading to the false announcement of the approval of spot Bitcoin ETFs. The incident raised concerns over unauthorized information leaks and misinformation.

EU Mulls Scrutinizing Microsoft's Investments in OpenAI Through Merger Oversight Regulations

Europe's European Commission is contemplating scrutinizing Microsoft's 49% stake in OpenAI, the developer of ChatGPT, under EU Merger Regulation. This review would determine if Microsoft's investment in the AI firm requires examination under the EU's rules for mergers and acquisitions, assessing the implications of this significant tech investment in the European market.

Influx of Stablecoin to Trading Platforms Rises in Anticipation of Spot Bitcoin ETF Decision

CryptoQuant's market analysis reveals a significant rise in stablecoin deposits within crypto exchange wallets, escalating from $18.05 billion on January 1 to beyond $19.99 billion by January 7. This influx aligns with the cryptocurrency market's bullish momentum, largely fueled by the expected approval of a spot Bitcoin ETF 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.​