Hello everyone, I’m back home in London and excited to share the latest news from the crypto world on MNO!

Since its inception in 2007, the MNO blog has been a go-to resource for insightful information and lively discussions on a wide range of topics. As a long-time industry follower myself, I can attest to its value and relevance in the ever-evolving world of cryptocurrencies.

My passion for keeping up-to-date with the latest developments in the crypto space has only grown stronger over time, and I’m excited to continue sharing my thoughts and insights with this knowledgeable and engaged community.

As a regular feature, I present the Weekly CryptoNews Digest, a comprehensive roundup of the most significant news and developments in the world of cryptocurrencies from the past week. By staying informed with this digest, you can rest assured that you won’t miss out on any important updates or trends in this dynamic and rapidly evolving industry.

Before we dive into the exciting world of crypto news from last week, I just wanted to remind everyone that I’m still here to answer all your burning questions!

Here are the best ways to reach me:

– Live chat on Telegram: Simply search for “@mnoblog” and fire away with your questions.
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– Email: You can always reach me directly at abramsonp@gmail.com

I always appreciate your engagement and always look forward to hearing from you. Don’t forget to participate in the latest and newest poll on the MNO TalkBack page which I will introduce in just a moment!

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Get ready for an exciting journey as we delve into the latest and greatest crypto news from March 4th to March 10th, 2024! In this edition of the MNO Weekly CryptoNews Digest, we’ll be diving into the most noteworthy market trends, industry rumors, and essential updates. So fasten your seatbelts and get ready to stay ahead of the curve in this ever-evolving crypto landscape! Let’s get started!

MNO TALKBACK – POLL RESULTS AND NEW POLL ADDED

Before we dive into the latest crypto updates from the past week, let’s take a look at the results of the last poll that ran for MNO readers a couple of months ago. The poll asked about participation in cryptocurrency trading and asked:

“How much crypto funds are you holding in your accounts at the moment?”

This poll results reveal a high level of interest in crypto investing, with the majority of respondents indicating that they are either already holding up to $1,000 in cryptocurrencies or planning to buy crypto funds. However, the lack of respondents in the “from 1,000 to 10,000” and “more than $10,000” categories suggests that the majority of participants are new to crypto investing and have not yet invested significant amounts. That only highlights the importance of educating readers on the ever evolving crypto market with the help of the Weekly CryptoNews Digests I plan to continue doing this year as well.

The new poll on the MNO TalkBack page, open for the next few weeks, asks for your Bitcoin price predictions for the end of spring. Are you optimistic about Bitcoin reaching new heights, or do you believe it’s all hype that will lead to another price dip? I want to hear your opinions!

So the new question will ask as follows – “How much do you think Bitcoin will be worth by the end of May 2024?” Possible answers will reflect what you actually believe will happen over the coming weeks and months which will determine further price trends for BTC and other major cryptocurrencies. So please submit your predictions on the TalkBack page:

– It will propel to at least the $100K mark
– It will stay between the $60K and $80K
– It will fall below the $60K value mark

I thank you in advance to share your opinion on the BTC price here and look forward to draw the final results of your predictions on the MNO blog in the end of May.

BITCOIN AND ETHEREUM REACH NEW HEIGHTS

The recent surge in Bitcoin‘s price has been nothing short of remarkable. Just last Tuesday, it reached an all-time high of over 69,200 before experiencing a sharp 10% decline. However, by the end of the week, Bitcoin had recovered and surpassed 70,000 for the first time. As of today BTC is being traded at an even more astonishing $72K mark. This is a significant milestone for the leading cryptocurrency, and it’s clear that investor excitement is at an all-time high.

One of the main drivers of this surge in Bitcoin’s price is the anticipation of the upcoming halving event. The halving, which is set to take place in May, will see the reward for mining a block of Bitcoin cut in half. This event has been hyped up by the media and has led to a frenzy of speculation among investors. As a result, billions of dollars have poured into Bitcoin ETFs, further fueling the price surge.

Another factor contributing to the price surge is the increasing speculation surrounding spot Ether ETFs. Ether, the second-largest cryptocurrency by market capitalization, hit $4,000 for the first time in over two years. This is a significant milestone for Ether, and it’s clear that investors are bullish on its future prospects. The prospect of spot Ether ETFs has led to a surge in investor interest, further driving up the price of Ether.

Overall, the recent price surge in Bitcoin and Ether is a clear indication of the growing interest in cryptocurrencies. With the halving event just around the corner, it will be interesting to see how the market reacts and whether the price surge will continue. One thing is for sure, though – cryptocurrencies are here to stay, and their popularity is only set to increase in the coming years.

ASIAN INVESTORS FUEL BITCOIN SURGE

Bitcoin’s recent price surge has been largely driven by Asian investors, particularly from South Korea, China, and Hong Kong, who account for approximately 70% of Bitcoin’s trading volume. The region’s trading volume in February was around 800 billion, out of a total of $1.17 trillion in Bitcoin traded. The surge in Bitcoin’s popularity in Asia suggests a significant fear of missing out (FOMO) effect in the region. This is further evidenced by a 12-fold increase in “bitcoin” searches on the WeChat messaging app.

Here are some possible key points to take away from this news:
– The news suggests that Asian investors are driving the current Bitcoin rally, with South Korea, China, and Hong Kong being the main drivers.
– The significant trading volume in Asia indicates that the region is becoming increasingly important for the cryptocurrency market.
– The FOMO effect in Asia may be a sign that investors are becoming increasingly interested in Bitcoin and are fearful of missing out on potential gains.
– The surge in Bitcoin’s popularity in Asia may also indicate that the region is becoming more open to cryptocurrencies, potentially leading to greater mainstream adoption.
– The news may have implications for the broader cryptocurrency market, as it suggests that Asian investors are becoming increasingly influential in driving market trends.
– The increase in “bitcoin” searches on WeChat may indicate that there is growing interest in Bitcoin among Chinese-speaking investors, potentially leading to further growth in the market.
– The news may also suggest that the current Bitcoin rally is not just a flash in the pan, but rather a sustained trend driven by strong investor interest.

Overall, the news suggests that Asian investors are playing a significant role in driving the current Bitcoin rally and that the region is becoming increasingly important for the cryptocurrency market. The surge in Bitcoin’s popularity in Asia may indicate that the region is becoming more open to cryptocurrencies, potentially leading to greater mainstream adoption.

MEME TOKENS TAKE CENTER STAGE

The price of Ethereum-based meme tokens, such as Pepe, Shiba Inu, and Floki, has surged, with Shiba Inu leading the pack and its market capitalization reaching over $25 billion. The growth of these meme coins is attributed to factors such as accelerated token burning and anticipated upgrades to the Shibarium network. The increased popularity of these tokens has resulted in a surge in Ethereum gas fees, causing challenges for transfers.

Here are some possible key points to take away from this news:
– The resurgence of meme coins, particularly Shiba Inu, suggests that investors are still interested in these types of assets despite the market volatility.
– The growth of meme coins may be driven by speculation and hype, rather than any tangible use case or fundamental value.
– The increase in Ethereum gas fees may be a sign that the network is experiencing increased congestion, potentially leading to slower transaction times and higher costs.
– The popularity of meme coins may be a distraction from more established cryptocurrencies and could divert attention away from legitimate use cases.
– The meme coin craze may have implications for the broader cryptocurrency market, as it could lead to increased speculation and market volatility.
– The news may indicate that investors are seeking alternative investment opportunities outside of traditional cryptocurrencies, potentially leading to greater diversification in the market.
– The surge in meme coin popularity may also suggest that investors are becoming more comfortable with the idea of investing in non-traditional assets, potentially leading to greater mainstream adoption.

Overall, the news suggests that meme coins are still attracting significant attention and investment, despite the market volatility. The surge in Ethereum gas fees may indicate that the network is experiencing increased congestion, potentially leading to slower transaction times and higher costs. The popularity of meme coins may have implications for the broader cryptocurrency market, potentially leading to increased speculation and market volatility.

SEC DELAYS DECISION ON ETHEREUM ETF

The US Securities and Exchange Commission (SEC) has postponed decisions on two crypto-related products. The first is an Ethereum exchange-traded fund (ETF) application, for which the SEC has initiated a public comment period to gather opinions on whether arguments supporting approved Bitcoin ETFs are applicable to Ethereum and what potential manipulation risks may arise. The second is a proposal to allow exchanges to list and trade spot bitcoin ETF options, for which the SEC has also deferred its decision.

Here are some possible key points to take away from this news:
– The SEC is seeking public input on the potential risks and benefits of an Ethereum ETF, indicating that the agency is taking a cautious approach to the product’s approval.
– The delay in the decision on Ethereum ETF applications may impact the timeline for other crypto-related products awaiting approval, such as the spot bitcoin ETF options.
– The SEC’s hesitation may be due to concerns about market manipulation, as the agency has previously expressed concerns about the potential for manipulation in the cryptocurrency market.
– The public comment period provides an opportunity for market participants to share their thoughts on the potential impact of an Ethereum ETF on the market and whether it could lead to manipulative practices.#
– The delay in the decision on spot bitcoin ETF options may indicate that the SEC is taking a wait-and-see approach to how the Ethereum ETF application plays out before making a decision on similar products.
– The news may have implications for investors who are eagerly awaiting the approval of crypto-related products, as it suggests that the SEC is taking a cautious approach to their approval.
– The SEC’s decision to seek public input may be seen as a positive step towards greater transparency and could be an indication that the agency is open to feedback from market participants.

Overall, the news suggests that the SEC is taking a cautious approach to the approval of crypto-related products, particularly in light of concerns about market manipulation. The public comment period provides an opportunity for market participants to share their thoughts on the potential impact of an Ethereum ETF, and the SEC’s decision to defer its decision on spot bitcoin ETF options may indicate a wait-and-see approach to how the Ethereum ETF application plays out.

BLACKROCK TO INVEST IN SPOT BITCOIN ETFS

BlackRock, the world’s largest asset manager, has updated its filing with the Securities and Exchange Commission (SEC) to indicate its intention to purchase spot Bitcoin exchange-traded funds (ETFs) for its funds. The BlackRock Global Allocation Fund and Strategic Income Opportunities Fund aim to generate investment returns through a variety of assets, including equity, debt, money market securities, and now Bitcoin.

Here are some possible key points to take away from this news:
– BlackRock’s decision to include Bitcoin in its funds represents a significant shift in the investment management industry, as it indicates growing mainstream acceptance of cryptocurrencies.
– The move may be seen as a positive development for the cryptocurrency market, as it suggests that institutional investors are becoming increasingly interested in investing in Bitcoin.
– The BlackRock Global Allocation Fund and Strategic Income Opportunities Fund are designed to provide investors with diversified portfolios that can potentially generate returns in various market conditions.
– The inclusion of Bitcoin in these funds provides investors with exposure to the cryptocurrency market, which has historically been known for its volatility and potential for high returns.
– BlackRock’s decision to invest in Bitcoin ETFs may impact the broader cryptocurrency market, as it could lead to increased demand for Bitcoin and potentially drive up its price.
– The move may also influence other institutional investors to consider investing in cryptocurrencies, potentially leading to greater mainstream adoption.
– The news may have implications for the broader investment management industry, as it suggests that cryptocurrencies are becoming increasingly accepted as a legitimate asset class.
– The SEC’s approval of BlackRock’s filing indicates that regulatory attitudes towards cryptocurrencies may be shifting, potentially paving the way for greater institutional investment in the space.

Overall, the news suggests that BlackRock’s decision to include Bitcoin in its funds represents a significant development in the investment management industry, as it indicates growing mainstream acceptance of cryptocurrencies. The move may have implications for the broader cryptocurrency market and may influence other institutional investors to consider investing in cryptocurrencies.

BLOCKFI AND FTX SETTLE LEGAL BATTLE

BlockFi and FTX, two bankrupt firms, have reached an agreement to settle their legal dispute. As part of the agreement, FTX will pay 874 million to BlockFi, which includes a 185 million customer claim against FTX.com and a $689 million claim against Alameda Research. The agreement is seen as a positive outcome for both parties, as it reduces the need for costly litigation in BlockFi’s bankruptcy proceedings.

Here are some possible key points to take away from this news:
– The agreement between BlockFi and FTX brings an end to their long-standing legal battle, potentially saving both parties time and resources that would have been spent on litigation.
– The agreement highlights the growing trend of companies in the cryptocurrency space settling disputes through mediation rather than litigation.
– The news may indicate that the cryptocurrency market is maturing, with companies recognizing the benefits of resolving disputes through alternative means.
– The settlement may have implications for other legal disputes in the cryptocurrency space, potentially leading to greater use of mediation in the future.
– The agreement may also suggest that BlockFi and FTX are taking steps to move forward from their legal battle and focus on their respective businesses.
– The news may have implications for investors, as it may indicate that the risk of costly litigation is reducing, potentially leading to greater confidence in the market.

Overall, the news suggests that BlockFi and FTX have reached a significant agreement that may have positive implications for both parties and the broader cryptocurrency market. The use of mediation to resolve disputes may become more common in the space, potentially leading to greater efficiency and cost savings for companies.

SPANISH GOVERNMENT HALTS WORLDCOIN CRYPTO PROJECT

The Spanish government has halted the Worldcoin crypto project, co-founded by OpenAI CEO Sam Altman, due to privacy concerns. The project, which provides WLD tokens in exchange for iris scans, has been ordered to suspend activities in Spain for three months by the Spanish government’s data protection agency. The agency has expressed concerns over the high risks to people’s rights posed by the processing of sensitive biometric data.

Here are some possible key points to take away from this news:
– The Spanish government’s decision to halt the Worldcoin project highlights growing concerns over data privacy in the digital age.
– The news may indicate that regulators are taking a closer look at the use of biometric data in the cryptocurrency space, potentially leading to greater scrutiny of similar projects.
– The suspension of Worldcoin’s activities in Spain may have implications for the project’s future, potentially leading to changes in how the project operates or even its shutdown.
– The news may have implications for other cryptocurrency projects that use biometric data, potentially leading to greater regulatory scrutiny and oversight.
– The Spanish government’s decision may also suggest that there is a growing recognition of the need to protect individuals’ privacy and personal data, particularly in the context of new technologies.
– The news may have implications for investors, as it may indicate that regulatory risks are increasing for cryptocurrency projects that rely on biometric data.

Overall, the news suggests that data privacy concerns are becoming increasingly important for regulators, and that cryptocurrency projects that rely on biometric data may face greater scrutiny in the future. The suspension of Worldcoin’s activities in Spain may have implications for the project’s future and may indicate a growing recognition of the need to protect individuals’ privacy and personal data.

TESLA’S BITCOIN HOLDINGS SPARK SPECULATION

Speculation is surrounding Tesla’s Bitcoin holdings, as the company’s BTC wallet currently holds around 11,509 bitcoins, which is 1,800 more than previously reported. Some anticipate the announcement of a recent Bitcoin purchase during Tesla’s upcoming earnings call, while others consider the possibility of an accounting error. Tesla previously bought $1.5 billion in Bitcoin in February 2021 and sold 75% of its stack in 2022.

Here are some possible key points to take away from this news:
– Tesla’s Bitcoin holdings have sparked speculation, with some anticipating an announcement of a recent purchase during the company’s upcoming earnings call.
– The news may indicate that Tesla is becoming increasingly involved in the cryptocurrency space, potentially leading to greater mainstream adoption.
– The possibility of an accounting error suggests that the company’s Bitcoin holdings may not be as significant as initially thought.
– The news may have implications for investors, as it may indicate that Tesla is taking a longer-term approach to its Bitcoin holdings.
– The news may also suggest that Tesla is diversifying its assets, potentially leading to greater stability for the company.
– The speculation surrounding Tesla’s Bitcoin holdings may indicate a growing interest in cryptocurrencies among major corporations.

Overall, the news suggests that Tesla’s Bitcoin holdings are generating significant interest and speculation, with some anticipating a recent purchase and others considering the possibility of an accounting error. The news may have implications for investors and may indicate a growing trend of corporations diversifying their assets with cryptocurrencies.

Thank you for joining me on this week’s edition of the MNO Weekly CryptoNews Digest! To all of our subscribers, commenters, and participants in the discussion – your engagement is what keeps this blog alive, and I am grateful for your support.

Just a heads up that I’ll be back next Monday with the latest crypto news and price trends in the newest Weekly CryptoNews Digest. This time, I’ll be bringing you the updates all the way from Israel, where I’m jetting off for another adventure! Catch you all next week on MNO – For Money Lovers!