$800B-dollar bank predicts Bitcoin will hit $120k by 2024 + more
Plus everything else you need to know this week about crypto
GM! This week: Tom Brady’s embarrassing involvement in the FTX debacle is revealed in a new report, Wall Street begins coming around to crypto, a new platform wants to pay on-chain sleuths for revealing information about who controls wallet addresses, and more. Listen to Coinage host Zack Guzman discuss these stories with Fox Business reporter Eleanor Terrett here.
In Bitcoin…
Standard Chartered, a bank with $800B+ in assets under management, predicts Bitcoin could hit $50k by the end of this year and $120k by the end of 2024, driven by miners taking profits. Bitcoin continues to be a favored asset among investors.
This report comes at a time when big Wall Street firms are increasingly favorable towards crypto adoption, as detailed in a new Washington Post report. TradFi firms are hoping that they’ll have a better track record with regulators than crypto-native companies. Speaking of regulation: this week also saw shakeups in management at both Binance and Polygon.
In… Tom Brady News?
That’s right, the famed former NFL QB (you don’t seriously need me to explain who Tom Brady is, do you?) lost big on FTX. Brady lost $30 million in FTX stock and he may even have still have to pay taxes on it, according to a new report in the New York Times. Also caught up in this exposé: Taylor Swift, who apparently got dumped (in a professional sense) by SBF, not the other way around like earlier reports indicated.
In Web3 news…
It’s been a rough couple of weeks for hacks: ArcadiaFi just lost $455k yesterday, MultiChain lost $125M 1 month after its CEO mysteriously disappeared, Poly Network, known for recovering $600M from a previous hack, lost about $25M, and Atomic Wallet faces $100m lawsuit following North Korean hack.
Luckily for on-chain sleuths, a new marketplace from Arkham Intelligence aims to monetize information tying crypto wallets to real-life identities, enraging privacy advocates. Aren’t we supposed to be able to monetize our own data in Web3, not our on-chain stalkers?
Our Latest Feature…
We talked to SEC Commissioner and “Crypto Mom” Hester Peirce about her issues with her own agency. Peirce discussed why she feels the SEC is not being “tech-neutral” when it comes to crypto, why she’s surprised a Bitcoin ETF has yet to be approved, and much, much more in our wide-ranging interview.
Check out the full chat below.
In Other Headlines…
Seoul court holds first hearing for Terra co-founder Daniel Shin
New survey finds 24 central banks may have CBDCs by 2030
NY Fed Says Months-Long Test on Digital Dollar Shows Speed Advantage
Collectors Are Bored of Apes and Don’t Want to Pay Royalties
Robert F. Kennedy Jr. said he ‘was not an investor’ in Bitcoin. Financial disclosure form reveals he holds north of $100,000 in the cryptocurrency
BarnBridge DAO calls halt to ‘all work’ on DeFi protocol amid SEC probe
That’s everything we’re taking a look at this week!
If you haven’t heard, Coinage is expanding from the show you know and love to an entire media operation, posting and curating news on our site. If you have a membership pass, you can even help us out by submitting stories you’d like to see included in our coverage.
If there’s something we missed, come chat with us in our Discord, and keep an eye on our YouTube channel for this week’s debate between Custodia Bank CEO Caitlin Long and BitGo CEO Mike Belshe.