Month: May 2024

Bloomberg’s Mike McGlone Reveals Why A $150,000 Bitcoin Price Target Is Far Off

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Mike McGlone, Senior commodity strategist at Bloomberg Intelligence, has made a rather pessimistic prediction for Bitcoin, emphasizing that the cryptocurrency’s potential rise to $150,00 was a long shot. The strategist has revealed factors that could make Bitcoin’s projected surge to $150,000 difficult, highlighting both macroeconomic trends and Bitcoin’s performance in 2024.  Bitcoin Surge To $150,000 Unlikely In a recent interview with Scott Melker, the host of “The Wolf Of All Streets,” podcast, McGlone discussed Bitcoin’s price fundamentals and its possible rise to $150,000 in the 2024 bull cycle.  Comparing Bitcoin…

Former NFL Star “Gronk” to Pay $1.9M to Settle Voyager Investor Suit

Coincidentally, the investors filed the proposed settlement with the court just two days before former NFL quarterback Tom Brady – Gronkowski’s former teammate – participated in a comedic roast, which saw several comedians and other stars comment on Brady’s previous crypto endorsements, though without mentioning FTX, Sam Bankman-Fried’s defunct exchange Brady promoted. Source

Trump being elected could be good for Bitcoin

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A Standard Chartered report warns that the growing risk of U.S. fiscal dominance due to the Federal Reserve’s potential debt monetization could drive investors to cryptocurrencies. In this context, a second term under former President Donald Trump might benefit digital assets. “We think that a second Trump administration would be broadly positive via a more supportive regulatory environment,” the report said. Standard Chartered analyst Geoff Kendrick emphasized that Bitcoin could offer a valuable hedge against de-dollarization and waning confidence in U.S. Treasuries. “A steeper nominal 2-year/10-year curve, a greater increase…

U.S. DOJ Identifies and Charges LockBit Ransomware Gang Leader with Fraud, Extortion

In a sprawling 26-count criminal indictment unsealed Tuesday morning, prosecutors allege that Khoroshev, 31, developed, promoted and oversaw the LockBit software, recruiting “affiliates” on cybercriminal forums who then carried out the actual ransomware attacks. Once a ransom was paid, typically in bitcoin (BTC), affiliates would give Khoroshev a 20% cut of their earnings, according to the indictment. Source CryptoX Portal

What Visa’s ‘Organic’ Stablecoin Report Misses

“This means trying to exclude all of trading, so not just automated trading,” he said. Trading, it shouldn’t have to be said, is a pretty big part of why people use crypto. Additionally, as far as Campbell can tell, Visa’s report cut out wallet addresses for centralized exchanges like Binance and Coinbase, which both hold stablecoins used in services like prepaid cards, “some of which are literally Visas.” Source

Bitcoin Local Bottom In? Analyst Offers Insights

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In an ever-evolving world of cryptocurrency markets, deciding the bottom of Bitcoin price correction is an endeavor that attracts interest from both investors and analysts. Joining the fray is cryptocurrency analyst and trader MilkyBull offering insights on the subject, claiming that Bitcoin’s local bottom has developed due to a certain development. Following its weekend recovery out of bear market territory, the price of Bitcoin slightly decreased on Monday. However, MilkyBull is confident that the recent retracement might be the last before BTC turns to move on the upside. Bitcoin Local…

Coinbase Gets Hit With New Class Action Lawsuit Accusing Crypto Exchange of Selling Digital Asset Securities

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A newly filed class-action complaint alleges that Coinbase violated US securities laws. The complaint, which was filed in the Northern District of California’s San Francisco division on Friday, claims that the top US crypto exchange has been operating as “part of a shadowy crypto ecosystem operating just outside of the law.” “Its entire business model has been built upon a lie and a dream: the lie is that ‘we do not sell securities,’ and the dream is that, knowing it would eventually be caught in the lie, ‘it is better…

RFK Jr., a Pro-Crypto U.S. Presidential Candidiate, to Appear at Consensus 2024

Crypto has increasingly become politicized in the U.S., with many Republicans pro-crypto and Democrats opposed or skeptical at best. Kennedy is a member of a famously Democratic family (that has endorsed Biden). His uncle, John F. Kennedy, served as U.S. president in the 1960s, and his father served as U.S. Attorney General during that administration before running for president. Source