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5 Things to Know in Crypto This Week 💡

Bitcoin Briefly Surpasses $70K Amid Argentina Legal Tender Talks, Ethereum Flirts with $4K 🐂

• Bitcoin briefly surpassed $70,000 this morning and Ethereum continues grinding to $4,000 as majority of coins show positive movement.

• Argentina is in talks with El Salvador's Digital Assets Commission to explore Bitcoin as legal tender.

• $23 million in short positions have been liquidated as Bitcoin climbed over $70,000.

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Crypto wallet linked to Donald Trump hits $10 million in value: Arkham 🏛️

• A crypto wallet linked to Donald Trump holds 579,300 MAGA tokens, valued at $7.12 million.

• The wallet also holds 463.441 ETH ($1.84 million) and 1 million tokens of MAGA VP (MVP) valued at around $509,000.

• Trump's crypto holdings make him one of the top celebrities in terms of cryptocurrency ownership.

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JPMorgan casts doubt on SEC approval for Solana and other crypto ETFs 📜

• JPMorgan doubts that the SEC will approve Solana and other crypto ETFs, due to the ambiguity surrounding Ethereum's classification as a security.

• Unless legislation is passed deeming most cryptocurrencies as not securities, JPMorgan does not expect the SEC to approve other crypto ETFs.

• Conversely, last week Standard Chartered Bank's Geoffrey Kendrick said he expects the approval of Solana and XRP ETFs in 2025, while TD Cowen's Jaret Seiberg said the market could see an ETF with a "basket of crypto tokens," within a year.

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Danger as wave of crypto influencers and celeb X accounts are hacked 🖥️

• Several crypto influencers and celebrity accounts have been hacked, promoting various tokens including Luna2 and ORDI.

• The hacker's choice of tokens resulted in limited gains, leading to speculation of a wider attack on celebrity accounts.

• Rapper Rich The Kid's account promoted the memecoin "RICH," while Caitlyn Jenner's account promoted "JENNER."

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Investors Look to Blackrock’s Next Target: Real World Assets 💸

• RWAs are tokenized representations of traditional assets, offering fractionalization and transparent verification.

• Blackrock and JP Morgan are exploring the RWA sector through collaborations with Ondo Finance and Chainlink. The protocols are up 13% and 6% respectively.

• The Depository Trust and Clearing Corporation (DTCC) recently completed an RWA pilot program with Chainlink and other partners.

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