- Coinpaper Digest
- Standard Chartered Bank Stands Firm: BTC to Hit $100K!
Standard Chartered Bank Stands Firm: BTC to Hit $100K!
READING TIME: 4 mins 29 secs
The Shiba Inu (SHIB) community experiences renewed enthusiasm as prominent figure Shytoshi Kusama uncovers hidden revelations within the SHIB whitepaper.
Kusama's excitement leads to a collective exploration of SHIB's untapped potential, emphasizing its role beyond monetary value. The whitepaper reveals SHIB as a symbol of participative democracy within the Shiba Inu ecosystem, influencing governance, council elections, and charitable initiatives. Kusama's endorsement and the community's newfound excitement strengthen SHIB's commitment to transparency, democracy, and social responsibility. In related news, Plena Finance expands its cryptocurrency super app, incorporating new tokens SOL, SHIB, and XLM, offering users advanced features like AI-driven PlenaGPT and innovative Account Abstraction for seamless DeFi interactions.
Standard Chartered Bank maintains its Bitcoin (BTC) price prediction of $100,000 by the end of 2024, citing BTC's increasing dominance, potential U.S.-based spot Bitcoin ETF approvals, and the upcoming Bitcoin halving.
The bank anticipates ETF approvals in Q1 2024, paving the way for institutional investment. A whale investor accumulates 11,268 BTC, indicating confidence in BTC's potential. However, concerns about BTC's environmental impact surface due to its Proof of Work mechanism, leading to extensive energy and water consumption. Researcher Alex de Vries advocates for adopting the Proof of Stake model to address environmental issues.
Swiss asset manager Pando Asset has entered the U.S. spot Bitcoin exchange-traded fund (ETF) race by submitting a Form S-1 to the SEC for the Pando Asset Spot Bitcoin Trust.
The trust aims to track Bitcoin's price using Coinbase's custody arm to hold Bitcoin. Pando is the 13th applicant for a spot Bitcoin ETF, joining others like BlackRock, ARK Invest, and Grayscale. Bloomberg ETF analyst Eric Balchunas raised questions about Pando's late filing and its potential approval on Jan. 10, a date predicted by analysts for all spot Bitcoin ETFs. BlackRock met with the SEC to discuss its ETF bid and presented a revised redemption model addressing SEC concerns.
Robinhood, the online investment app, is set to launch in the UK in early 2024, marking its third international expansion attempt.
The UK platform will provide access to 6,000 US stocks with 24-hour trading five days a week. While initially excluding local stocks and derivatives, Robinhood plans to integrate them later. Despite previous setbacks in the UK and the failed acquisition of Ziglu, Robinhood is confident in its preparedness for the expansion, with CEO Vlad Tenev emphasizing the platform's robustness. Robinhood is also eyeing the European Union for its crypto services amid a 30% decline in crypto trading revenue.
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