FameEX Morning Crypto News Recap | April 16, 2024

Worldcoin Incurs Over $1 Million in Penalties in Buenos Aires Due to Legal Breaches

Worldcoin, a biometric iris scanning digital ID firm, faces accusations from the Buenos Aires government of multiple infractions, notably discrepancies in how users' digital information is handled. The city alleges that Worldcoin subjects users to unfair terms, including clauses about potential service interruptions.

Analyst Forecasts Bitcoin Price to Reach $650K as ETF Investors Implement Asset Manager Strategies

Onchain analyst Willy Woo forecasts that Bitcoin could reach $650,000 at the height of the bull market. This prediction is based on the assumption that investors in spot Bitcoin ETFs will fully invest their assets as guided by asset managers. Woo believes these estimates are conservative, suggesting Bitcoin will surpass the market cap of gold once ETFs are fully utilized.

Tether Reveals Plans to Launch New Multi-Chain Tokenization Platform

Tether is set to launch a white-label, multichain tokenization platform developed in-house, as announced by CEO Paolo Ardoino on social media. This new platform will enable the tokenization of various assets such as bonds, stocks, funds, and reward points, making it accessible to everyone.

Germany's Biggest Federal Bank LBBW to Enter Crypto Custody, Aiming for Mid-2024 Debut

Landesbank Baden-Württemberg (LBBW), the largest federal bank in Germany, plans to launch crypto custody services later this year. In collaboration with Austrian-based Bitpanda, LBBW will initially focus on offering custody for Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization.

ETF Analyst Provides Cautious Perspective on Newly Approved Hong Kong Bitcoin ETFs; Questions $25B Inflow Projection

On Monday, the Hong Kong Securities and Futures Commission approved a series of spot ETFs tied to bitcoin and ethereum, the leading cryptocurrencies by market cap. This approval has generated significant excitement within the cryptocurrency community. Prior to this, the Singapore-based cryptocurrency firm Matrixport had projected that these ETFs could potentially attract approximately $25 billion in bitcoin demand.

Norway Enacts Data Center Legislation, Indicating Heightened Scrutiny for Bitcoin Miners

Norway's new legislation aims to provide politicians with enhanced insight into data centers in their municipalities for informed decision-making. Terje Aasland, the Minister of Energy, emphasizes the importance of this for assessing center operations. The law requires official registration of all data centers nationwide, detailing ownership, leadership, and digital service offerings, facilitating regulatory oversight.

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