Exclusive Crypto News of This Week: Terraform Labs, BTC Fall, & More


The last week of January is going to be over soon, and in 2-3 days, a lot of things happened in the crypto industry. From Bitcoin’s price stumbling to Ron DeSantis announcing the ending of his run for presidential elections, this week again proved why the crypto landscape is an ever-evolving sector. Every minute, something happens in this industry, and to keep you updated on all the top news stories of the crypto landscape, Coin Informer compiles a detailed weekly crypto news blog post. So, without further ado, let’s unpack the exclusive crypto news of this week.

Ron DeSantis Ended his Race for the White House: Can Dreams of CBDC Establishment Turn into Reality? (Exclusive Crypto News of This Week )

January 21, 2024. The Florida governor, Ron DeSantis, shared shocking news on X (formerly Twitter), confirming the rumors of ending his run for presidential elections in 2024. DeSantis uploaded a 4-minute and 34-second video where he talked about a lot of things, including lack of vision in his campaigning.

He ended his video by speaking one of the popular quotes of Winston Churchill,

‘Success is not final; failure is not fatal: it is the courage to continue that counts.’

You can check this video by clicking on the link given below.

Ron DeSantis is one of the most influential people in America’s political environment. Moreover, he is also the one who wants to ban CBDC (Central Bank Digital Currency). Yes, you heard it right.

In one of his early appearances from campaigning, he stated,

“If I am the president, on one day, we’ll nix central bank digital currency. Done. Dead. Not happening in this country”. 

That’s why, when the news of DeSantis ending his presidential run became viral on social media, many crypto enthusiasts celebrated.

But the celebrations are of no meaning. If it’s not Ron DeSantis, then there is Donald Trump. Like DeSantis, Trump is also against the creation of CBDC. His recent campaign speech in New Hampshire is the latest example.

Terraform Labs (TFL) filed for Bankruptcy Protection in Delaware Court: Exclusive Crypto News of This Week

January 21, 2024. Terraform Labs (TFL) filed for Chapter 11 bankruptcy in Delaware, United States. The Singapore-based crypto firm was behind the TerraUSD, which collapsed in 2022 and destroyed billions of dollars of investors.

According to documents filed on January 21 in Delaware court, Terraform Lab declared Bankruptcy and wants to get legal permission to allow the firm to execute business plans while going on legal proceedings in Singapore and the & US. Besides the US, Terraform Labs is also facing a lawsuit in Singapore.

Terraform Labs Official File

(Terraform Labs Official File in US Court)

Hong Kong to Welcome Spot Bitcoin ETFs by Mid-2024: Exclusive Crypto News of This Week

January 23, 2024. It hasn’t been a month since the SEC approved the functioning of 11 spot Bitcoin ETFs in the United States, but the popularity of this is picking up steam. According to many sources, Hong Kong may welcome the functioning of various Spot Bitcoin ETFs by mid-2024. The executive director & head of regulatory affairs at OSL shared some exciting news with reporters. He told OSL that he is in talks with many companies regarding the launch of ETFs in Hong Kong.

Besides OSL, HashKey and Venture Smart Financial Holdings (licensed crypto exchanges in Hong Kong) also plan to launch spot Bitcoin ETFs.

Bitcoin Took a Huge Dip by Touching $39K, In Two Days, Prices are Back on Track: Exclusive Crypto News of This Week

January 21 – January 24, 2024. The windy clouds took over the crypto landscape when Bitcoin’s price took a huge dip, falling to $39,526K (the lowest in the last six weeks). Since December 2023, Bitcoin’s price has witnessed good growth. The price was further boomed by the SEC’s highly anticipated decision about approving Spot Bitcoin ETFs. However, on January 2023, the Grayscale Investment’s ETFs and FTX’s token outflows led to Bitcoin’s price taking a huge dip. But, in two days, prices came back on track with 0.21% growth in the last 24 hours.

As of now, the Bitcoin is trading at $40,038.04.

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