Schiff Recommends Silver as Bitcoin Hits Record Highs
As Bitcoin surged past $112,000 this week, prominent gold advocate Peter Schiff suggested investors consider shifting some holdings to silver. The cryptocurrency critic made his case as analysts predicted Bitcoin could reach $258,000 based on historical trends.
Grayscale Challenges SEC Over ETF Delay
Digital asset manager Grayscale has formally objected to the SEC‘s postponement of its Bitcoin ETF decision. The company contends the regulatory delay violates established procedures and statutory deadlines, reflecting growing tensions between crypto firms and watchdogs.
Binance’s Involvement in Trump-Linked Stablecoin
New reports reveal Binance assisted in developing the stablecoin for World Liberty Financial, a cryptocurrency venture connected to former President Donald Trump. The disclosure highlights the complex intersections between major exchanges and political figures.
High-Profile Trader Exits Social Media
Notorious high-leverage trader James Wynn deactivated his account after sustaining significant losses, underscoring the risks inherent in cryptocurrency speculation.
Snoop Dogg NFTs Defy Market Expectations
Nearly one million NFTs from Snoop Dogg‘s latest collection sold out in 30 minutes on Telegram, challenging assumptions about declining interest in digital collectibles.
Market Performance Snapshot
The cryptocurrency sector reached a $3.68 trillion market cap this week, with Bitcoin and Ether achieving new highs. Top performers included MemeCore and Stellar, while Jito and OKB saw declines.
Regulatory Developments
Ongoing legal challenges include a creditor dispute over FTX payouts and a French investigation into X‘s algorithms, illustrating the complex regulatory landscape facing digital assets.
Market Outlook
With Bitcoin showing continued growth potential, market participants remain focused on regulatory changes, technological advances, and evolving market dynamics that will shape cryptocurrency’s future.
