Daily Crypto Agenda for 02/23/2024
Crypto Agenda for 23 Friday 2024 Date
We'll be sharing today's daily news and prices of cryptocurrencies.
Daily News
Donald Trump can now ‘live with’ Bitcoin accepting growing demand, suggests further regulation
Trump's stance towards the emerging industry has drastically evolved over the past years.
Donald Trump's stance on Bitcoin has changed. He now acknowledges its growing popularity and demand, particularly among younger people. While he still prefers the US dollar, he is willing to "live with" Bitcoin and believes it may require regulation. This shift in stance contrasts with his earlier anti-crypto rhetoric, where he called Bitcoin a "scam against the dollar." Trump has since launched NFT collections and expressed opposition to central bank digital currencies (CBDCs), citing concerns about government surveillance and control. He is currently campaigning for the 2024 US Presidential elections and has support from several pro-crypto former candidates.
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Texas Blockchain Council including Riot file lawsuit against US Energy Department over Bitcoin miner survey
The Bitcoin miners alleged the US agencies acted "arbitrarily and capriciously."
Texas Blockchain Council and Riot Platforms have filed a lawsuit against the US Energy Department and other entities over a survey targeting Bitcoin miners. They argue that the survey is an unlawful data collection, violates the Paperwork Reduction Act, and is politically motivated. The lawsuit aims to halt the survey and destroy any information collected. Several lawmakers have also expressed concerns about the survey.
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Kraken seeks to dismiss SEC lawsuit citing retribution for regulatory critique
Kraken seeks to dismiss SEC lawsuit, citing lack of fraud or consumer harm.
Kraken, a cryptocurrency exchange, claims the SEC lawsuit against it is retaliation for its advocacy for regulatory boundaries. Kraken testified before House committees in May 2023, expressing concerns about the SEC's overreach and advocating for other regulatory bodies. The SEC later alleged Kraken operated unlawfully as an unregistered securities exchange and broker-dealer. Kraken asserts these charges are retribution for its political speech and has moved to dismiss the case with prejudice. Kraken CEO Dave Ripley argues the lawsuit seeks court validation for excessive SEC control over various forms of commerce, potentially undermining America's innovation strength.
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Optimizing customer onboarding and KYC processes with Checkin.com’s AI and data-driven UX modules
Checkin.com aims to solve crypto's long-standing user onboarding and KYC challenges with AI and data-driven UX solutions.
Checkin.com offers AI and data-driven UX modules to optimize customer onboarding and KYC processes. It provides a seamless, efficient, and privacy-conscious verification process, improving user satisfaction and trust. Checkin.com's data-driven UX features create a personalized and conversion-focused onboarding experience, leading to higher conversions, improved user retention, and cost savings. Its AI-driven KYC process streamlines user verification with facial recognition, liveness detection, and biometric hash values. Checkin.com ensures brand consistency, offers flexible integration options, and provides built-in and custom validation features for data accuracy and regulatory compliance. Fintech companies can leverage Checkin.com to enhance user onboarding experiences, boost conversion rates, and create a secure and user-friendly environment for their customers.
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Adam Back files previously unseen Satoshi Nakamoto emails in Craig Wright trial
The messages may help refute Craig Wright's claim that he is Satoshi Nakamoto — the pseudonymous creator of Bitcoin.
Adam Back submitted early emails with Bitcoin creator Satoshi Nakamoto in a UK court as part of his testimony against Craig Wright, who claims to be Bitcoin's creator and wants to assert copyright over the Bitcoin whitepaper. The emails show Nakamoto acknowledged Back's Bitcoin precursor, Hashcash, and referred to Bitcoin as a version of e-Cash. Back suggested Nakamoto read about B-Money, which is cited in the final Bitcoin whitepaper. Wright previously claimed he was inspired by B-Money, but the email suggests Nakamoto was unaware of it before Bitcoin's launch. Back highlighted contradictions in Wright's statements and denied Wright's claims about Bitcoin's algorithm and his dismissiveness towards digital cash. COPA's case against Wright began on Feb. 5, and various COPA members and early Bitcoin contributors have testified against Wright's claim of creating Bitcoin.
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Worldcoin up 170% weekly to all time-high following OpenAI Sora breakthrough
AI tokens as a category are up nearly 20% over the past week.
Worldcoin (WLD) reached a new all-time high of $8.98 on Feb. 22, following significant weekly price gains. The token's gains are connected to OpenAI announcing the AI-powered video generation service Sora on Feb. 15. Worldcoin also announced that its wallet, World App, has exceeded 1 million daily users. AI tokens up nearly 20% on average, outperforming Bitcoin and Ethereum. The development companies behind each AI token have also made partnership and marketing announcements in recent days, likely contributing to their above-average growth.
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DCG files objection to Genesis, NYAG settlement
The objection raises concerns about the settlement's adherence to the Bankruptcy Code and its implications for the rights of DCG as a creditor.
Digital Currency Group (DCG) has objected to a settlement between its bankrupt subsidiary Genesis and the New York Attorney General's Office (NYAG). DCG's objection cites concerns about the settlement's adherence to the Bankruptcy Code and its implications for DCG's rights as a creditor and equity holder. The settlement prioritizes unsecured creditors at the expense of secured creditors and equity holders like DCG, depriving them of a fair opportunity to recover their investments. DCG also criticizes the settlement for being negotiated in secrecy and hastily, without a thorough evaluation of the merits of the claims. The firm has requested that the court delay approval of the settlement until its concerns are fully addressed.
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Congressman Emmer raises concerns over Biden administration’s “information collection regime” targeting BTC miners
Two government agencies have begun to collect data from mining firms.
House Majority Whip Tom Emmer expressed concerns over the Biden administration's targeting of Bitcoin mining firms for data collection. The OMB approved an information collection request from the EIA without a comment period, raising questions about the existence of public harm. Emmer emphasized that Bitcoin mining is not a threat to public safety and urged for a politically neutral policy. The EIA's concerns about increased energy consumption during peak hours and cold snaps were deemed unwarranted by Emmer, who argued that mining activity can be adjusted accordingly. The broadness of the survey raised suspicions of an attempt to impose Scope 3 climate policies. Non-compliant companies face criminal and civil penalties, including daily fines. The EIA began the survey in early February following the OMB's emergency approval.
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Reddit IPO filing reveals treasury exposure to Bitcoin, Ethereum
The filing did not disclose the amount of Bitcoin and Ethereum held in the treasury or how long the company has been buying them.
Reddit's initial public offering (IPO) prospectus reveals that the company holds an undisclosed amount of Bitcoin and Ethereum in its treasury for investment purposes. The company's crypto exposure is limited to Bitcoin and Ethereum, and the investment policy focuses on "risk mitigation" by only investing in cryptocurrencies deemed "not likely to be a security" by regulatory bodies. Reddit also mentioned exploring decentralized applications (dApps) and the potential for blockchain to offer new forms of content creation, sharing, and ownership. The company's openness to experimentation and focus on regulatory compliance suggest a potential for future growth and innovation in the cryptocurrency space.
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Fundstrat’s Tom Lee believes Bitcoin will surge 200% to $150k this year and $500k in 5 years
Tom Lee said that easing monetary policy and sustained demand point to a continued rally for Bitcoin to $150,000 in 2024.
Fundstrat's Tom Lee predicts a 200% surge in Bitcoin's value to $150,000 this year and a further increase to $500,000 in the next five years. He attributes this growth to easing monetary policies, the upcoming Bitcoin halving, and Bitcoin's resilience as a "sound money." Lee emphasizes Bitcoin's security and its role as a store of value, contrasting it with traditional fiat currencies, which have a higher prevalence of illicit activities. He argues that Bitcoin's adoption by criminals does not diminish its value as a trusted asset.
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South Africa advances financial inclusion with crypto and digital payment reforms
South Africa intends to legitimize crypto payments and make them an intrinsic part of the local economy over the coming years.
South Africa is advancing financial inclusion by integrating digital payments and crypto into its economy. The government aims to enhance access to digital payments, particularly in underserved areas, by providing infrastructure and promoting acceptance among consumers and businesses. Regulatory reforms are underway to legitimize crypto payments and establish a comprehensive framework for the sector. The government is exploring tokenization and the potential of blockchain technology. Pilot projects are being implemented to support financial inclusion, including digitizing community transactions and facilitating cross-border remittances for small businesses. South Africa's efforts demonstrate its commitment to digitalization and using technology to strengthen its economy and uplift its people.
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Singularity attracts $2.2 million to develop KYC-compliant DeFi platform for institutions
Singularity is "developing a KYC/KYB-compliant DeFi access layer" for institutional use.
Singularity Network, a protocol for institutional investors in DeFi, raised $2.2 million in funding. The funds will be used to develop the protocol, enhance its compliant DeFi infrastructure, and prepare for its launch. Singularity aims to integrate traditional finance with DeFi by addressing institutions' concerns about on-chain confidentiality. The platform conceals wallet addresses, allowing institutions to participate in DeFi protocols while preserving anonymity. Singularity leverages zero-knowledge technology to achieve this. Investors believe Singularity addresses a crucial need in the market by providing compliance and confidentiality for institutional users in DeFi.
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Hackers steal $6.2 million in digital assets from LastPass users, investigators track stolen funds
The recent LastPass breach impacted 41 crypto addresses and was traced back to a December 2022 hack of the platform.
Hackers stole over $6.2 million in digital assets from 22 LastPass users in February 2023. Blockchain investigators tracked the stolen funds and identified 41 compromised wallets, including 21 Bitcoin and 20 Ethereum addresses. The stolen assets were converted into Bitcoin and transferred to various cryptocurrency exchanges. LastPass users are advised to report the incident to the US Internet Crime Complaint Center (IC3) and rotate their keys to prevent further losses. This incident follows a previous attack in October 2022, where hackers stole over $4 million from LastPass users. In December 2022, LastPass suffered a breach that compromised its cloud-based storage service, allowing attackers to access customer vault data, including website logins and secure notes. Cybercriminals have since targeted crypto users whose seed phrases were stored on the platform, resulting in the theft of over $35 million in digital assets from 150 victims.
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Prices of Cryptocurrencies (Fri Feb 23 2024)
| Symbol | Price |
|---|---|
| STEEM- USDT | 0.2441000 $ |
| BTC- USDT | 50970.020 $ |
| ETH- USDT | 2934.6800 $ |
| BNB- USDT | 374.60000 $ |