FameEX Morning Crypto News Recap | January 17, 2024

Bitcoin Achieves Highest Google Trends Search Interest Post-SEC's ETF Approval

From January 7 to 13, 2024, 'bitcoin' hit a maximum interest score of 100 on Google Trends, peaking on January 11, following the SEC's approval of 11 bitcoin ETFs. This spike in interest aligns with the increased focus on the imminent Bitcoin reward halving, triggered by the recent ETF approvals.

Skybridge Founder Foresees Bitcoin Surpassing $170,000 in the Next Year

Skybridge Capital's Anthony Scaramucci forecasts that Bitcoin could exceed $170,000 in the next year if its price remains stable until the April halving. He cites the anticipated Bitcoin halving and a rising institutional interest in newly introduced spot bitcoin ETFs as key factors likely to propel the cryptocurrency's value upwards significantly.

Circle CEO Jeremy Allaire Declares: 'Stablecoins to Revolutionize the Financial System Indefinitely'

Circle's CEO, Jeremy Allaire, claims that blockchain systems are becoming the internet's new base layer, with stablecoins being key. He emphasizes their capability for almost immediate, cost-effective, and worldwide value transfer. Allaire foresees this technology becoming user-friendly for millions, reducing the need for detailed knowledge about its intricate workings.

2023 Saw a 70% Decrease in Venture Capital Investments for Leading Web3 Projects

A recent study revealed that in 2023, the top ten Web3 projects raised $1.78 billion, a significant drop of 70% from the previous year's $5.87 billion. The study also showed that Web3 projects collectively attracted $9 billion in funding, with infrastructure-related projects making up 36.5% of this aggregate investment.

IRS Modifies Cryptocurrency Tax Guidelines, Removing Reporting Duties for Transactions Exceeding $10k

On January 16, the IRS declared a temporary halt in enforcing a newly effective rule from the revised Infrastructure Investment and Jobs Act (IIJ Act) by the Treasury and IRS. Initially active from January 1, this rule required U.S. businesses to disclose cryptocurrency transactions over $10,000, but its application is presently on hold by the tax agency.

Microsoft's CEO Defines OpenAI Alliance as 'Favoring Competition' During UK and EU Merger Inquiries

During the World Economic Forum in Davos, Microsoft CEO Satya Nadella highlighted the importance of partnerships in AI for competitive dynamics. On January 16, he told reporters that collaborations like Microsoft's with OpenAI are key to promoting competition against well-established AI entities, providing a tactical method to rival leading industry players.

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