“Bring back Tone Vays” — a news podcast edited by ForkLog and friends about the week’s main industry events.
Episode topics: bitcoin price rise, analysts’ forecasts for the upcoming bull cycle, NFT scam in Moscow, crypto consulting for the mafia, a treason case over a donation.
Participants: Lena Jess, Alex K.
Host: Aremefe.
Bitcoin Rises
At the start of the week the price of the first cryptocurrency rose by more than 11%, testing the $35 000 level. The rise of digital gold lifted other assets as well, but none of the top-10 alts outpaced the flagship in daily gains.
ForkLog’s experts assessed the current potential of digital gold: according to BestChange’s analyst Nikita Zuborev, if the positive news background persists, we may see quotes rise to $40 000.
However, speaking of a full rally is premature, says Anton Toropcev, regional director of the CommEX crypto exchange in Russia and the CIS. In his view, the situation signals healthy market revival, but room for a correction still remains.
ETF Enthusiasm
The main reason for the positive trend, analysts identified was the hype ahead of possible approval of a spot Bitcoin-ETF. The asset’s ticker from BlackRock appeared and disappeared from the DTCC’s list of traded funds DTCC. Experts link this to the company receiving a signal of ‘mandatory / imminent approval’ of the ETF filing in the SEC.
Galaxy Digital analysts projected a possible inflow of funds into the new financial instrument. In their view, it will amount to $14 bln in the first year after launch, $27 bln — in the second and $39 bln — in the third.
NFT Scam
A Moscow court remanded the accused in fraudulent solicitation of funds under the guise of investments in an NFT project.
According to the investigation, the defendant met the victim at a business meeting and proposed investing in NFT paintings by a known artist, promising profits. In total, the victim transferred more than 670 000 USDT, after which the offender ceased contact.
Hacker for the Mafia
In Spain the investigation has been concluded into the case of hacker Denis Tokarenko, better known as Denis Katana, who is accused of helping launder funds for a Russian OPG via Bitcoin. According to law enforcement, he recommended using digital assets due to a ‘lack of state control’.
In 2018 Katana was already brought to trial in a case involving malware infecting ATMs to dispense cash.
State Treason for a Donation
On October 26, the FSB of Russia charged a resident of Sovetskaya Gavan, Khabarovsk Krai, with treason. Security service officers assert that 54-year-old Alexander Vecherko financed the Ukrainian Armed Forces through cryptocurrency.
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