Larry Fink, the CEO of BlackRock, recently made positive comments about Bitcoin, referring to it as an “international asset.” Fink also suggested that U.S. regulators should consider approving a Bitcoin exchange-traded fund (ETF), saying it could democratize finance in the country. BlackRock has previously attempted to launch a spot BTC ETF in partnership with crypto exchange Coinbase, but it remains uncertain whether or not the U.S. Securities and Exchange Commission (SEC) will approve the investment vehicle.
Gemini, a cryptocurrency exchange, has filed a lawsuit against Digital Currency Group (DCG) and its CEO, Barry Silbert, accusing them of “fraud against creditors.” Gemini claims that Genesis, a DCG subsidiary responsible for operating an Earn program in collaboration with the exchange, owes over a billion dollars to investors. The lawsuit follows an open letter published by Gemini co-founder Cameron Winklevoss, criticizing Silbert for allegedly playing the victim card. Winklevoss compared Silbert’s behavior to that of Sam Bankman-Fried, the CEO of FTX Exchange, saying Silbert was delusional.
Binance CEO Changpeng Zhao, also known as CZ, has shared his prediction for the next Bitcoin bull market. During a recent “ask me anything” session on Twitter, CZ explained that the price of Bitcoin has historically moved in four-year bull cycles and suggested this pattern may continue. He pointed to the Bitcoin halving event in 2024 and predicted that 2025 would be the most likely year for the next bull market.
Lawmakers in the United Kingdom are moving forward with legislation aimed at giving authorities more power to target cryptocurrencies used for illicit purposes. The bill includes provisions that would allow authorities to confiscate and recover crypto assets more easily. It also clarifies the government’s jurisdiction over digital assets intended for terrorism or related purposes. The bill will undergo further review and amendments before it can become law.
According to data from Glassdoor analyzed by tech recruitment firm TrueUp, employees at crypto exchanges such as Gemini, Binance, and Coinbase are among the least happy in the industry. The data shows that workers at defunct crypto lender Celsius, Gemini, and trading firm Amber Group are the least satisfied. Binance attributed its low scores to its “hardcore” work culture, while experts cautioned that the data should be interpreted with caution.
In the cryptocurrency market, Bitcoin is currently valued at $30,321, Ether at $1,868, and XRP at $0.46. The total market capitalization is $1.18 trillion. The top three altcoin gainers of the week are Bone ShibaSwap, Maker, and Flow, while the top three altcoin losers are ApeCoin, Stellar, and Fantom.
In other news, abnormal outflows from the Multichain multi-party computation (MPC) bridge platform have led to concerns of a potential exploit. Multichain reported that over $102 million worth of crypto was withdrawn from its Fantom bridge on the Ethereum side. Coinbase users have also reported scams and phishing attacks, with scammers using the exchange’s domain name to deceive users. BarnBridge DAO has paused all work on its DeFi protocol amid a reported investigation by the SEC.
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