[Weekly] 2024 October Week 4
1.Nigeria Clears Binance Executive of Legal Charges
In a major legal update, Nigerian authorities have officially dropped all charges against a Binance executive who was under scrutiny for the company’s operations in the country. This decision could pave the way for Binance to reassess its strategy in Nigeria, potentially opening doors for broader crypto adoption across Africa.
2. Vitalik Buterin Pushes Back on Saylor’s Bitcoin Custody Stance
Ethereum’s co-founder Vitalik Buterin did not mince words in response to Michael Saylor’s controversial take on regulated bitcoin custody. Buterin called Saylor’s suggestion for stricter regulations “insane,” reflecting the ongoing tension between advocates for decentralized systems and those who push for more centralized oversight in crypto.
3.Bernstein Calls Its 2025 Bitcoin Forecast of $200,000 ‘Cautious’
In a fresh report, investment firm Bernstein set an ambitious price target for Bitcoin, predicting it will reach $200,000 by 2025. Surprisingly, they described this forecast as “conservative,” citing accelerating institutional interest and Bitcoin’s expanding role within traditional finance as key drivers behind the prediction.
4.Variational Raises $10.3M to Boost Arbitrum-based Derivatives Trading
In another big funding round for the DeFi space, Variational, a crypto derivatives trading protocol built on Arbitrum, announced a successful $10.3 million raise. The protocol aims to use this capital to scale its operations and innovate within the derivatives trading market, further solidifying Arbitrum’s role in the Layer 2 ecosystem.
5.Tesla Keeps Its Bitcoin Intact Despite Market Movements
Despite significant Bitcoin transactions witnessed across the market last week, Tesla has kept its stash of 11,509 BTC untouched, according to blockchain analytics firm Arkham. Tesla’s decision to hold onto its Bitcoin shows ongoing confidence in the cryptocurrency’s long-term value, even amidst market volatility.