The past week in the crypto world was nothing short of eventful. From the “Bitcoin Jesus” nearing a settlement with the Justice Department to gold’s rally potentially signaling a surge for Bitcoin, there was no shortage of intriguing developments.
Let’s dive into the top stories of the week.
‘Bitcoin Jesus’ Nears Agreement In Tax Evasion Case
Renowned Bitcoin investor Roger Ver is reportedly on the brink of reaching a preliminary agreement with the Justice Department over a criminal tax fraud case. Ver, also known as “Bitcoin Jesus,” was indicted last year for failing to pay $48 million in taxes on his cryptocurrency holdings. The agreement, which is yet to be officially filed, could see the charges dropped if Ver complies with its terms, which include paying approximately the same amount owed in taxes to the government.
Gold’s Rally Could Signal Bitcoin’s Surge
Bitcoin might soon follow gold’s multi-week rally if historical patterns repeat themselves, suggests one prominent analyst. Gold is nearing a cyclical peak, driven by extreme momentum and a historically high monthly RSI of 92.16—the highest since 1979. This could indicate a potential peak for Bitcoin in the coming weeks.
See Also: Forget Dogecoin, Shiba Inu — Floki Is Up 10% And Getting Its First ETF In Europe
Morgan Stanley Opens Crypto Funds To All Clients
Morgan Stanley has reportedly lifted restrictions on which wealth clients can buy crypto funds. The firm has informed its advisors that crypto funds can now be offered to any customer, a significant shift from previous rules that limited these products to high-net-worth investors with aggressive risk profiles and taxable brokerage accounts.
Block Inc. Integrates Bitcoin Payments Into Square PoS System
Fintech firm Block Inc. announced it will integrate Bitcoin into its Square point-of-sale system. This move will allow merchants to accept and stack the cryptocurrency from their daily sales. Sellers using the Square Bitcoin solution can accept BTC payments with no processing fees until 2027.
Tyler Winklevoss Brands Katie Porter A Crypto Hater
Tyler Winklevoss, co-founder and CEO of cryptocurrency exchange Gemini, labeled California gubernatorial candidate Katie Porter a cryptocurrency hater and a "protégé" of Sen. Elizabeth Warren (D-Mass.). Winklevoss drew parallels between Porter and Warren, who is known for advocating strict regulations for the cryptocurrency industry.
Major Banks Mull Blockchain Assets
A consortium of major banks, including Goldman Sachs Group Inc. (NYSE:GS), Citigroup Inc. (NYSE:C), UBS Group AG (NYSE:UBS), Deutsche Bank AG (NYSE:DB), and Bank of America Corp. (NYSE:BAC), announced plans to explore blockchain-based assets pegged to G7 currencies, according to a Reuters report.
This story was generated using Benzinga Neuro and edited by Ananya Gairola
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