Despite this week’s market recession, some analysts predict that the inclusion of digital assets in US 401 (K) retirement plans can unlock billions of dollars in new tickets for autumn, which potentially leads Bitcoin to register maximums.
This “Alcista” development can promote Bitcoin (BTC) above $ 200,000 before the end of the year, indicating another new capital worth $ 122 billion while involving a modest portfolio allocation of 1%, André Dragosch, head of European research manager of Crypto Bittise assets, told Cointelegraph.
Corporate Bitcoin Treasury acquisitions continue to attract new participants, such as the Health Services Supplier and Bitcoin Bitlymd Treasury, which he quoted in Nasdaq, who made his first investment in Bitcoin of $ 679 million on Tuesday.
Other large investors are going from Bitcoin to bet on the appreciation of Ether’s prices (ETH). On Thursday, a Bitcoin whale sent BTC for a value of $ 189 million to the hyperlichid decentralized exchange and converted most of a long perpetual future position of $ 295 million and a higher position of $ 240 million of $ 240 million.
Cryptographic retirement plans in US 401 (K) can drive Bitcoin at $ 200,000 in 2025
The inclusion of cryptocurrency in US retirement plans. Uu could mark a milestone for the adoption of Bitcoin and unlock billions of dollars in new capital, potentially pressing the asset above $ 200,000 at the end of 2025, according to André Dragosch, head of European research at the Crypto Bitwise asset manager.
President Donald Trump raided the way for the inclusion of cryptocurrencies in retirement plans 401 (K) of the United States by signing an executive order on August 7, giving Americans access to digital assets through their retirement plans.
The inclusion of cryptography in plans 401 (k) can be even more significant for the price of Bitcoin (BTC) than the approval of the funds quoted in the stock market (ETF) (ETFS) SPOT of the USA. UU. In January 2024, Dragosch said.
This “bullish” development can be “larger than the approval of the ETO of the US Bitcoin.
“The official prediction remains $ 200,000 for the end of the year.”
“If you observe retirement plans 401 (K) and defined containment in the United States, they are huge,” Dragosch said, added that 1% was an “relatively conservative” allocation estimate for the $ 12.2 billion industry.
The inclusion of digital assets in retirement plans will allow portfolio managers 401 (k) to invest in Bitcoin ETF, which can take the price of Bitcoin to new historical maximums, showing another optimistic signal for the bitcoin price target of $ 200,000 bitwise by the end of 2025.
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Kanye West Yzy Sniper Wallet linked to the Found Extraction scheme of $ 21 million: analysts
Ochain investigation carried out by the Pseudonym Detective analyst linked a wallet that turned off the token with Kanye West to another set of wallets behind the Libra file, which suggests that the same operator extracted dozens of millions of dollars using internal knowledge.
In a series of Publications X on Thursday, Dethelective revealed that a sniper and zzy wallet managed to buy tokens worth $ 250,000 to only $ 0.20, well below the price that most merchants paid. In a matter of minutes, the wallet obtained more than $ 1 million in profits, which was then channeled to a treasure wallet.
The same treasure wallet had also received great sums of wallets linked to the launch of Libra six months ago. Two wallets “Sniper de Libra” extracted $ 21 million combined. In total, almost $ 23 million were carried out through Yzy and Libra launches, and the funds then moved to Kamino or Binance.
“We can be sure that this is someone with clear internal information,” Dethetion wrote. “The proof is that it did not cut any currency in addition to $ Yzy and $ Libra and was prepared with a large size,” they added.
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Bitcoin Bull and billionaire files for $ 250 million spac aimed at defi, ai
The first Bitcoin and billionaire investor Chamath Palihapitiya requested to raise $ 250 million in the blank verification company “American Exceptionalism Acquisition Corp A”, aimed at the decentralized sectors of finance, AI, energy and defense.
The Special Purpose Acquisition Company (SPAC) would be directed by the Manager of Social Capital Steven Trieu as CEO and Palihapitiya as president, according to the declaration of registration presented before the United States stock and values ​​commission on Monday.
The increase of $ 250 million seeks to offer 25 million shares to $ 10 each under the AEXA ticket in the New York Stock Exchange.
Palihapitiya and Trieu are betting on decentralized finances, not in Bitcoin, to lead the next wave of financial innovation, focusing on solutions that unite traditional markets with blockchain technology:
“While Mr. Palihapitiya has long been a Bitcoin defender as a coverage of inflation and alternative to fiduciary currencies, we believe that the next stage of development is the greatest integration between traditional finances and decentralized finances.”
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The former Cryptographic Director of the White House, Bo Hines, takes the advice role of Tether
The Stablecoin Tether giant hired the former executive director of the White House Crypt Council, Bo Hines, as his new strategic advisor for digital assets and strategy of the United States, indicating an impulse to expand in the world’s largest economy.
Tether, the USDT (USDT) stablecoin issuer, appointed Hines to directly involve and coordinate the company’s strategy and expansion as part of its central approach with immediate effect, according to a Tuesday’s announcement shared with Cointelegraph.
HIES previously served in the administration of President Donald Trump, where he worked in initiatives to promote digital asset innovation, establish railings for Stablecoin issues and develop collaboration between the government and the Blockchain industry.
In his new role, Hines will work with Tether’s leadership team to execute his entry into the US market and cultivate “constructive relations” with political leaders and interested parties of the industry.
The “deep understanding of Hines’s legislative process, combined with his passion for the practical adoption of Blockchain, makes it an invaluable asset since Tether enters the world’s largest market,” said Paolo Ardoino, CEO of Tether, adding:
“The appointment of BO demonstrates our commitment to build a strong presence in the United States that covers multiple sectors, starting with digital assets and expanding to new opportunities, including a deep approach to possible additional investments in national infrastructure.”
Tether Investments has already reinvested almost $ 5 billion in the economy of the United States. The addition of HIES aims to “reinforce” this commitment and alignment with the US market, according to the announcement.
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Ethena crosses $ 500 million in cumulative revenues as synthetic stable gains ground
Ethena Labs said Thursday that his Ethena protocol has generated more than $ 500 million in cumulative revenues. The growth in both income and circulating supply of its synthetic stable, Ethena Usde (USDE), has accelerated since July as synthetic stables obtain market share.
Ethena Labs shared the news through an X publication, saying that in the last week, the revenues of the protocol reached $ 13.4 million and the USDE supply reached a historical maximum of $ 11.7 billion.
“Ethena’s income has been driven by strong entries in favorable and favorable market conditions that have amplified the returns of their Neutral Delta-Neutral coverage reserve model,” said a spokesman for Ethena Labs to Cointelegraph. “The promotion of the protocol reflects the growing demand and trust in the USDE as a reserve of value.”
According to the Decentralized Finance Analysis Platform, Ethena Usde had the third largest market capitalization of all the stable at the time of writing. He also had the upper market capitalization among synthetic stable. In the last month, Ethena Usde market capitalization has increased 86.6%.
Together with Ethena Usde, other synthetic stable are gaining impulse and market participation. Sky Dollar (USDS), which drives the Sky ecosystem and is an improved version of DAI (DAI), has seen a 14% increase in market capitalization. Falcon USD (USDF), a synthetic dollar created by Falcon Finance, has seen a market capitalization 89.4%.
Synthetic stable have benefits and risks. Because they are not guaranteed by physical assets, they can have lower transaction costs. There is also a risk of instability and dependent, which can result in significant losses of investors.
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General description of the defi market
According to Cointelegraph Markets Pro and TradingView data, most of the 100 largest cryptocurrencies for market capitalization ended the week in El Red.
The memecoin pump.fun’s (bomb) token platform fell more than 22% marking the highest decrease in the week, followed by the Token SPX6900 (SPX), more than 18% during the past week.
Thank you for reading our summary of the most shocking developments this week. Unique us next Friday to get more stories, ideas and education about this dynamic progress space.
