This week in the crypto world we’ve seen a $100,000 Bitcoin prediction, Binance.US pulling out of the Voyager Digital deal, and the Bitcoin Legal Defense Fund helping developers fight back against frivolous lawsuits.
What say you?
Standard Chartered Says $100,000 Bitcoin in 2024
Standard Chartered this week posted a bullish note regarding Bitcoin’s price, suggesting that it is on a pathway to $100,000 by 2024. In the note, analyst Geoff Kendrick claimed that the crypto winter is over and outlined a strong fundamental case for Bitcoin, saying that its unique decentralized design made it a tempting asset at a time when the traditional banking sector is under huge pressure.
While 2024 might be a little too soon for Bitcoin to hit these heights, it nevertheless fits in with the general thesis over the Bitcoin cycle surrounding the halving, which takes place early next year.
Binance.US Reneges on Voyager Digital Takeover
Binance.US this week pulled out of its takeover of Voyager Digital following the charges laid against it by the Commodity Futures Trading Commission (CFTC) last month. Voyager tweeted that it “received a letter from Binance.US terminating the asset purchase agreement”, which was all but telegraphed after an eleventh-hour filing in the wake of the CFTC charges against Binance.US’s parent company asked the deal to be halted.
The news was a bitter blow to Voyager creditors, who had seen Binance.US clear multiple hurdles and get almost to the finish line with the takeover.
Bitcoin Legal Defense Fund Prepares for First Case
The recently established Bitcoin Legal Defense Fund, fronted by Twitter and Block co-founder Jack Dorsey, is preparing to support a cabal of developers in its first case. The fund, which Dorsey proposed over a year ago, will help pay the legal bills for the developers who face a series of lawsuits from the likes of Craig Wright, who claims they have breached his copyright over the Bitcoin whitepaper, code and file format.
The fund allows Bitcoiners to donate funds towards the legal defense of Bitcoin developers caught up in legal issues relating to their work on the protocol and allow them to continue their work.
