CoinDesk Podcast Network
COINDESK DAILY: Bitcoin Price Shot Past $71K; Do Kwon and Terraform Labs Liable for Fraud in SEC Case
Apr 8, 2024
Guest Do Kwon and Terraform Labs are facing SEC fraud charges. The podcast discusses Bitcoin hitting $71K, upcoming halving event, positive market movement, and updates on US crypto stocks.
01:43
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Quick takeaways
- Bitcoin price surged above $72,000 in anticipation of the halving, driving excitement in the BRC-20 ecosystem and leading to a positive market sentiment and token value gains.
- Terraform Labs and Do Kwon were found liable for civil fraud by the SEC, facing legal troubles and highlighting regulatory challenges in the crypto space.
Deep dives
Bitcoin's Rise and Impact on Crypto Market
Bitcoin surged above $72,000 in anticipation of the upcoming halving, driving excitement in the BRC-20 ecosystem. This surge led to a positive market sentiment with some Bitcoin-related projects and tokens gaining value. Traders made bets on a potential rally post-halving, contributing to a 6% increase in BRC-20 tokens in 24 hours. Additionally, US-based crypto stocks like Coinbase and micro-strategy saw gains with Bitcoin's climb, showing a correlation between Bitcoin's price movement and stock performance.
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