FameEX Morning Crypto News Recap | January 17, 2024

Bitcoin Reaches Top Search Interest on Google Trends After SEC Approves ETFs

During January 7-13, 2024, Google Trends showed a peak interest score of 100 for 'bitcoin,' hitting its zenith on January 11, right after the U.S. SEC approved 11 spot bitcoin ETFs. This surge in interest coincides with the growing anticipation surrounding Bitcoin's upcoming reward halving, following the heightened attention from the ETF approvals.

Skybridge Founder Predicts Bitcoin Will Exceed $170,000 in the Coming Year

Anthony Scaramucci, founder of Skybridge Capital, predicts that Bitcoin's price could soar above $170,000 next year, especially if its current price level holds until the halving in April. He believes the upcoming Bitcoin halving, coupled with increasing institutional demand for newly launched spot bitcoin ETFs, will significantly drive up the cryptocurrency's value.

Circle CEO Jeremy Allaire Proclaims: 'Stablecoins Will Permanently Transform the Financial System'

Jeremy Allaire, CEO of stablecoin firm Circle, asserts that blockchain systems represent the new foundational layer of the internet, with stablecoins playing a central role. He highlights their ability to offer value transfer that is "nearly instant, nearly free, and global in scale." Allaire envisions this technology becoming accessible to millions, simplifying its use without requiring in-depth understanding of its complexities.

Venture Capital Funding for Top Ten Web3 Initiatives Dropped by 70% in 2023

In 2023, the leading ten Web3 projects garnered $1.78 billion in funding, marking a 70% reduction from the $5.87 billion raised in the prior year, according to a recent study. Overall, Web3 initiatives secured $9 billion in capital, with infrastructure projects constituting 36.5% of this total investment.

IRS Revises Crypto Tax Regulations, Excluding Transactions Above $10k from Reporting Requirements

The IRS, following a revision of the Infrastructure Investment and Jobs Act (IIJ Act) by the Treasury and IRS, announced on January 16 that they are temporarily not enforcing a new rule, effective January 1. This rule mandated U.S. businesses to report cryptocurrency transactions exceeding $10,000, but the tax authority has currently paused its implementation.

Microsoft CEO Describes OpenAI Collaboration as 'Pro-Competition' Amid UK and EU Merger Investigations

At the World Economic Forum in Davos on January 16, Microsoft CEO Satya Nadella addressed the topic of competition in AI. Speaking to reporters, Nadella emphasized that partnerships, such as Microsoft's with OpenAI, are crucial for fostering competition in AI against fully integrated players, offering a strategic approach to challenge dominant forces in the industry.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.