Bitcoin Tests $75K on Iran Ceasefire Hopes
Bitcoin spiked above $75,000 this morning, up nearly 6% in 24 hours, as US-Iran de-escalation news sparked a relief rally and short squeeze. Analysts say a sustained break above $75,000 is needed to exit the two-month trading range, though the move appears fragile. Bitcoin ETFs saw a $291.11 million outflow Monday after last week's $786.31 million inflow.
More? Here’s Bitwise on why BTC rallies on geopolitical uncertainty and why the next step is BTC to $1 million. Read more →
Deutsche Börse Invests $200M in Kraken
Deutsche Börse, the Frankfurt stock exchange operator, has acquired a 1.5% stake in Kraken parent company Payward for $200 million. The investment values the crypto exchange at $13.3 billion. It was valued at $20 billion in a $800 million November share sale. This all occurs as the company is being extorted over a small amount of stolen data. Read more →
Circle CEO Defends Stance on Frozen Funds, Expands in Korea
Circle (CRCL) CEO Jeremy Allaire stated the company will not freeze USDC associated with hacks unless directed by legal authorities, citing a "moral quandary" for private companies to make such decisions unilaterally. This stance follows criticism after the $280 million Drift exploit, where Circle did not freeze approximately $230 million in USDC. Allaire mentioned ongoing efforts to establish legal safe harbor for such actions. Concurrently, Circle announced partnerships with South Korea's major crypto exchanges, Upbit and Bithumb, signaling expansion as the country develops stablecoin regulations. Read more →
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