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This week’s news
We bring you a summary of the most popular crypto asset (virtual currency) news over the past week (12/9 to 12/15).
This week, the market forecasts for Ethereum (ETH) by analysts at the US financial giant JP Morgan and the progress of the Bitcoin (BTC) spot ETF (exchange traded fund) being filed by the financial giant BlackRock attracted the most attention. .
table of contents
- This week’s featured news
- financial market
- Asia special feature
This week’s featured news
“Altcoin season” has arrived, with meme coins BONK, ORDI, PoW-based KAS, etc. achieving record increases (12/12)
Once the rise in the price of Bitcoin came to a halt, whales (large investors) turned their attention to other virtual currencies called “altcoins” and began to infuse funds into them. As a result, several cryptocurrencies with low market capitalization have reached record highs. (the article ishere)
New developments in BlackRock Bitcoin ETF (12/13)
There has been a new move regarding the physical virtual currency Bitcoin ETF “iSHARES® BITCOIN TRUST” that financial giant BlackRock is currently applying for. Recent changes to the ETF structure allow U.S. Wall Street banks facing restrictions on holding Bitcoin to participate. (the article ishere)
“Ethereum is expected to outperform Bitcoin’s growth rate” JP Morgan’s next year forecast (12/14)
Analysts at US financial giant JP Morgan have expressed the view that Ethereum is likely to outperform Bitcoin and other major cryptocurrencies in 2024. The rationale for this is also explained. (the article ishere)
financial market
Loss cut of 40 billion yen due to Bitcoin plummet, major alts also fall in reaction (12/11)
On this day, Bitcoin plummeted and a loss cut of 40 billion yen occurred. Major alts such as Ethereum, XRP, and Solana (SOL) also fell. (the article ishere)
Due to the continued decline in Bitcoin, the loss cut scale is 66 billion yen, one of the largest this year, and AVAX is up 21% from the previous day (12/12)
The price of Bitcoin rebounded immediately after the sharp drop the previous day, and then began to look for another dip towards the end of the day (US time). At that time, the stock fell below the low of $40,300 and continued to fall to $40,150, wiping out high leverage positions. The daily loss cut amount increased from $290 million as of noon on the 11th, reaching $455 million, one of the largest this year. (the article ishere)
US stocks continue to rise on expectations for interest rate cuts next year; Coinbase stock price hits highest since April 2022 | 15th Financial Tankan (12/15)
On this day, the NY Dow continued to rise and hit a new high. Additionally, the S&P 500 index was close to its all-time high. The previous day’s policy announcement from the US Federal Open Market Committee (FOMC) suggested that interest rates would be cut at least three times next year, and expectations for a soft landing have further pushed up risk assets. On the other hand, there were also signs of a shift in profits. (the article ishere)
Asia special feature
“web3 is the future of the internet” Indian government announces support for Web3 startups (12/11)
Rajeev Chandrasekhar, India’s Minister of State for Electronics and Technology, stated on the 6th, “The Indian government has positioned blockchain technology as an important field and will focus its efforts on supporting startups working on Web3.” He said, “Web3 embodies the future of the Internet.” (the article ishere)
Taiwan central bank emphasizes the benefits of CBDC and real asset tokenization (RWA) (12/11)
On the 7th, Deputy Governor of the Central Bank of Taiwan, Mei-Li Zhu, advocated “Banking 4.0” and talked about the benefits of central bank digital currency (CBDC) and real asset (RWA) tokenization as part of this. She said the financial industry is now entering a new era of Banking 4.0, which is expressed by the phrase “Financial Services Are Everywhere.” (the article ishere)
Daiwa Securities, Progma, and SBIR3 collaborate to jointly verify the efficiency of digital corporate bonds (12/12)
It has been revealed that three domestic companies, Daiwa Securities, Progma, and SBI R3 Japan, will collaborate on the issuance of digital corporate bonds. Daiwa Securities and Progma systems will be connected in order to streamline the issuance of digital corporate bonds and reduce the workload. (the article ishere)
The Japanese government also participates: Approximately 30 private companies including Progmat and SBI Securities convert VC funds into digital securitization (12/13)
It has been revealed that approximately 30 companies, including Mitsubishi UFJ Trust and Banking and Progma, which is independent from the company, will work on digital securitization of venture capital (VC) funds. Contribute to the Japanese government’s “5-year startup development plan”. (the article ishere)
FY2024 tax reform outline announced, “term-end mark-to-market valuation tax” by corporations (third parties other than issuers) will no longer be subject to it (12/14)
On the 14th, the Liberal Democratic Party announced the “Tax Reform Outline” for fiscal year 2020 regarding next fiscal year’s tax reform. It has been specified that virtual currencies owned by corporations held by third parties other than the issuer will be subject to a review to be exempted from “term-end market valuation taxation” under certain conditions. (the article ishere)
connection:Why we need a large-scale Web3 conference in Japan | WebX founder interview
Asia’s largest Web3 conference “WebX 2024” to be held at The Prince Park Tower Tokyo https://t.co/pogMJ9oqDw
The event is scheduled to be held over two days, August 28th (Wednesday) and August 29th (Thursday), 2024. We look forward to your application!
— CoinPost (virtual currency media) (@coin_post) September 29, 2023
Featured Web3 conference dates
Web3 and virtual currency/blockchain related conferences are becoming more active worldwide. In this article, we will also introduce information on major conferences scheduled to be held in the near future, mainly in Asia.
TEAMZ WEB3/AI SUMMIT 2024
“TEAMZ WEB3/AI SUMMIT 2024” is an event with the theme of Web3 and AI, scheduled to be held at Toranomon Hills Forum in Tokyo from April 13th to 14th.
TEAMZ WEB3/AI SUMMIT 2024 follows this year’s TEAMZ WEB3 SUMMIT 2023, and is an event focused on the potential for synergy between the AI and blockchain fields, which are attracting attention due to the rise of OpenAI and ChatGPT.
According to the official page, there will be more than 120 speakers next year, including more than 200 VCs, investors, and exhibiting companies. It is estimated that 5,000 people will attend.
TEAMZ WEB3 / AI SUMMIT 2024 is an upgraded event of TEAMZ WEB3 SUMMIT 2023, which was one of the most influential events in Japan’s Web3 industry.
This year, we will focus on both recent trends, WEB3 and AI, as our main themes… pic.twitter.com/JsjXkV9ZDe
— TEAMZ, Inc. (@teamz_inc) November 7, 2023
CoinPost official app
CoinPost official app (1.7.15) has been released on iOS and Android
・iOS17 compatible
・Improved display of in-app WebView
・Improved behavior when tapping notifications
Such… pic.twitter.com/Y8dikLRBe7
— CoinPost (virtual currency media) (@coin_post) November 15, 2023
The post Weekly Cryptocurrency News (+Asia Special) | Highly interested in JP Morgan’s next year’s predictions for ETH and the progress of BlackRock’s Bitcoin ETF appeared first on Our Bitcoin News.
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