From Hayes predicting Bitcoin's fall to SEC delaying Ethereum ETF decision, here is a 2-minute breakdown of everything important that happened in crypto today.
Bitcoin is finally back above $40k. This important level has held back the leading cryptocurrency for days after the GBTC ETF sell-off.
But will we enjoy a bull market before the halving? Arthur Hayes predicts prices could nosedive to $30k this year if equities crumble. Then again, he would welcome such a discount to buy more.
So let's cover that story in detail in our newsletter today!
Along with Arthur Hayes’ prediction, we will cover:
- SEC delays decision on BlackRock’s spot Ether ETF to September
- Spanish Telecom company taps Helium network for wireless expansion
- North Korean hackers stole less crypto in 2023
- Memecoin Dogwifhat soars 50% after exchange listing
- Hong Kong charts 3-year roadmap for fintech innovation
Time to dive into the forces rocking crypto today! Here we go...
Crypto Billionaire Predicts Bitcoin Crash
Bitcoin could nosedive to $30,000 this year, warns celebrity crypto investor Arthur Hayes.
The former BitMEX founder made the forecast in a blog post this week. He believes Bitcoin could tank as traditional markets face turmoil.
"I think Bitcoin will find a local bottom between $30,000 and $35,000," predicted Hayes.
But what reason did he give to support this prediction? Read the full story!
SEC Delays BlackRock’s Spot Ether ETF
The SEC is taking its sweet time approving BlackRock’s spot Ethereum ETF, delaying its decision just ahead of a looming deadline (Deja vu, anyone?).
Citing the need for further review, regulators pushed back the ruling originally due Jan 25th.
While disappointing, analysts say delays could continue popping up over the next few months. The real test comes this May, with a 70% chance of approval by the 23rd, according to one ETF expert.
But why May? Read the full story!
Spanish Telecom Company Is Using Helium Network
Telefónica is embracing blockchain to affordably strengthen its Mexican mobile footprint.
The carrier will integrate decentralized hotspots from Helium's crypto-powered network to stretch coverage in Mexico City and Oaxaca.
Helium nodes validate wireless traffic while providing connectivity, enabling Telefónica to offload data during peak congestion. Users get smoother performance switching between cellular and WiFi.
It may open doors to onboard more telecom companies in the future. Read the full story!
And Something About the North Korean Hackers…
North Korean hackers had a busy 2023 - but less to show for it in stolen crypto gains.
According to Chainalysis, DPRK hackers pulled off 20 major exploits last year, up from 15 in 2022. Yet they netted around $1 billion in crypto, down from nearly $1.7 billion.
With DeFi protocols tightening security, North Korean groups focused more on phishing campaigns on centralized platforms. Social engineering and targeting employees emerged as preferred vectors.
Meanwhile, hackers spent more time lingering within exploited networks, signals the need for increased monitoring and rapid incident response.
Did regulatory scrutiny help? Read the full story!
Memecoin Soars 50%
Solana-based memecoin Dogwifhat (WIF) enjoyed a wild 50% pump after crypto exchange Bitget added support for the asset.
Prices exploded from $0.23 up to $0.34 before cooling off. Still, WIF remains below its all-time high from last week.
Did other Solana-based memecoins enjoy similar pumps? Read the full story!
Hong Kong Plots 3-Year Focus on Innovation
Hong Kong's top financial regulator has charted an ambitious course to cement the territory's standing as an innovative global hub over the next three years.
The Securities and Futures Commission (SFC) published strategic priorities ranging from nurturing new technologies to confronting climate risks.
Amid "shifting tides" worldwide, the SFC aims to drive mainstream adoption of virtual assets while tokenizing traditional assets like stocks and bonds through blockchain tech.
Here is a full overview of this plan!
And that concludes our news roundup today. See you tomorrow with more crypto stories!
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