This week in the cryptocurrency world witnessed several significant developments. Binance's founder, Changpeng Zhao (CZ), has been ordered by a Seattle District Court Judge to remain in the United States until his February 2024 sentencing, following a guilty plea to money laundering charges. In legislative news, a U.S. Congress committee passed a pro-blockchain bill aimed at enhancing the country's use of blockchain technology through a series of actions to be undertaken by the U.S. Commerce Secretary.
The Securities and Exchange Commission (SEC) has delayed its decision on approving Grayscale's spot Ether exchange-traded fund (ETF), marking another key moment in the ongoing saga of cryptocurrency ETFs. In the realm of AI and finance, Elon Musk’s X-linked artificial intelligence modeler, xAI, has filed with the SEC for a private sale of $865.3 million in unregistered securities, with an aim to raise $1 billion.
Moreover, according to asset manager VanEck, Bitcoin is predicted to reach a new all-time high in late 2024, potentially influenced by a forecasted U.S. recession and regulatory changes post the U.S. presidential election. VanEck also anticipates the approval of the first spot Bitcoin ETFs in early 2024.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
