SDF Postpones Protocol 20 Upgrade, Bitcoin Passes 43K: Top Crypto News

Who would have thought that January 2024 would be this fast? It still looks like New Year celebrations were yesterday. But, amid daily crypto dramas, news, controversies, and prices up & down, when time passes, no one knows. Without wasting much time, let’s look at this week’s top crypto news.

Stellar Development Foundation Decided to Postpone the Protocol 20 Upgrade: Top Crypto News

January 27, 2023. The digital and finance community was highly anticipating the debut of the Protocol 20 upgrade in Stellar Development Foundation. But, on January 25, 2024, Stellar Development Foundation (SDF) decided to postpone this upgrade after their developers found a bug related to fee-bump transactions for Soroban smart contracts. The Protocol 20 upgrade is meant to add ETH (Ethereum) style smart contracts on the platforms. Since SDF is one of the oldest and most reliable decentralized public blockchain platforms, many people were waiting for this upgrade. But it seems like they have to wait for a few more weeks.

Tyler van der Hoeven, one of SDF’s developers, took to X (formerly Twitter) to announce that proceeding with the upgrade without addressing this bug would have posed a threat to the security of various applications and services on the platform. Thus, to ignore this kind of situation, Stellar Development Foundation had to postpone the upgrade.

Bitcoin’s Price Making Ups & Down Reached $43K but Fell-Off in Few Hours: Top Crypto News

January 31, 2024. Last week, every crypto analyst was shocked to witness Bitcoin’s price reaching below $39K. Since predictions were made, Bitcoin’s price will rise further after the approval of Spot Bitcoin ETFs. But, somehow, grayscale investment’s token overflow and spot Bitcoin ETFs taking center stage led to Bitcoin’s price making a huge dip. On January 29, 2024, the Bitcoin price takes a huge surge by reaching & passing the mark of $43K. But, in the next few hours, the price started shrinking. However, the prices came back on track by reaching $43K. As of now, Bitcoin’s price stands at $42,999.82. This means prices are fluctuating frequently, experiencing both increases and decreases.


                                                   (Bitcoin’s Price Fluctuations, Source: CoinDesk) 

Coinbase’s ‘Stand with Crypto’ Debuts New Data on Senators’ Crypto Ideology: Top Crypto News

January 30, 2024. According to recent data from Coinbase’s Stand with Crypto (a non-profit advocacy organization), 18 senators in the US Senate are pro-crypto. Out of 18 senators, 14 are from the Republican Party, and four are from the Democrats.

The list includes the names of reputable names, such as

Cynthia Lummis
Ted Budd
Tommy Tuberville
John Cornyn
Bill Hagerty
Ted Cruz
Steve Daines
Marsha Blackburn
Markwayne Mullin
Todd Young
Thom Tillis
Mike Lee
John Boozman
Tim Scott

Democrats’ Senators who support crypto, includes:

Ron Wyden
Kristen Gillibrand
Cory Booker
Kyrsten Sinema

Cynthia Lummis & Ted Budd are the republican senators who are most vocal about the interests of the crypto industry. Their support for the crypto industry can be indicated by looking at the fact that both senators have shown support for the passing of over 16 pro-crypto bills together. In contrast, Kristen Gillibrand and Ron Wyden are the Democrat senators who are pro-crypto.

If we talk about the senators who stand against crypto, ‘Stand with Crypto’ data has suggested a total of 30 senators who have anti-crypto opinions.

The list also includes famous political leaders such as Donald Trump, Robert F. Kennedy, Joe Biden, and Elizabeth Warren. Click here to check this data.

SEC’s Approval on Spot Bitcoin ETFs May Give Momentum for Similar Approvals in & Around Asia: Top Crypto News

January 29, 2024. Many crypto experts from all over the globe predicted that many countries may pass the green flag on the spot for Bitcoin ETF’s approval after the SEC has passed their approval in the US. On January 10, the American crypto industry woke up to the historic news when the SEC approved the functioning of spot Bitcoin ETFs across the US. After this decision, many were expecting other countries to follow suit. However, no one thought that the impact of this decision could be seen in less than a month. The countries that might be the next ones to approve the functioning of spot Bitcoin ETFs in their territories include Australia, Hong Kong, and Singapore. Th

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