Crypto Daily News: 3rd January 2024

Bitcoin Back Above $45,000: New Year Optimism Fuels Rally

The first trading day of 2024 saw Bitcoin break through the $45,000 barrier, surging over 7% and extending its recent bullish trend. Analysts attribute this rally to a combination of factors: positive sentiment surrounding potential Bitcoin ETFs, institutional interest, and general optimism for the digital asset industry in the new year.

VanEck Files Updated Bitcoin ETF Application:

Adding to the ETF buzz, VanEck, a major investment firm, has filed an amended application for a spot Bitcoin ETF with the US Securities and Exchange Commission (SEC). This revised application comes after the SEC rejected VanEck's initial proposal in October 2023. Industry experts remain cautious, noting the SEC's historically skeptical stance towards Bitcoin ETFs.

Binance CEO Asks for Permission to Leave US Before Sentencing:

Changpeng Zhao (CZ), the CEO of Binance, the world's largest cryptocurrency exchange, has requested permission to leave the US before his scheduled sentencing on charges related to alleged money laundering and violation of banking regulations. The US government opposes CZ's request, arguing that his presence is crucial for the case.

Solana Rebounds Despite FTX Sale Fears:

Solana, the popular blockchain platform, defied expectations and saw its price climb 26% this week. This unexpected surge comes despite lingering concerns about a potential selloff from FTX, a major market maker on the Solana network. Some analysts believe the rebound reflects growing confidence in Solana's long-term prospects and its ability to weather market turbulence.

BlackRock's IBTC Ticker Sparks Euphoria, Then Fades:

Investors went into a frenzy on Tuesday after noticing BlackRock, the world's largest asset manager, had listed a ticker symbol for "iShares Blockchain Industry (IBTC)." This led to speculation that BlackRock was launching a Bitcoin ETF, further fueling the market rally. However, BlackRock quickly clarified that the IBTC ticker was used internally for tracking purposes and does not represent an actual product offering.

Worldcoin Aims to Build Global ID Network:

Worldcoin, a project aiming to create a decentralized global ID system, has reportedly reached over 2.4 million signups. Users provide iris scans through Worldcoin's "Orb" devices in exchange for a digital ID and free cryptocurrency. This raises concerns among privacy advocates who question the potential for data misuse and manipulation within such a centralized system.

Indian Authorities Target Offshore Crypto Exchanges:

India's Enforcement Directorate (ED) has issued notices to nine offshore cryptocurrency exchanges, including Binance, asking them to explain their operations and demonstrate compliance with local regulations. This latest move signals India's continued efforts to regulate the crypto market and clamp down on illegal activities.