BTC Close To $100K, and Vitalik Wants To Pause AI - January 6, 2025

Also, Do Kwon plaids not guilty, and Solana is now quantum resistant.

TL;DR: Crypto Insights in Seconds

• BTC: Close to $100K.

• Solana: Price falls do to $227M moving to centralized exchanges. Also, developers claim is now quantum resistant.

• Do Kwon: Plaids not guilty to fraud in U.S charges.

• BlackRock: BTC ETFs see major outflow of $332 millions.

• MicroStrategy and Metaplanet: Seeking to doble down on BTC purchase.

• Vitalik Buterin: Wants to put a pause on AI to better understand market implications.

Price Update

High Stakes as Bitcoin Pushes $100K Ahead of Trump's Inauguration

A bold $100,000 Bitcoin call has traders anticipating a record-breaking price surge post Trump inauguration. Analysts point to strong demand and renewed interest from institutional investors, though market volatility remains a wildcard in the lead-up to this historic milestone.

Solana Shifts $227M to Centralized Exchanges

A transfer of $227 million worth of SOL tokens to centralized exchanges has raised eyebrows, casting a bearish shadow over Solana’s technical outlook. While such movements often signal sell-offs, the market reaction remains uncertain as SOL continues to be a major DeFi player.

Regulatory and Legal News

Do Kwon Pleads Not Guilty Following U.S. Extradition

Terraform Labs founder Do Kwon has pleaded not guilty to fraud charges in the U.S. after his extradition. The case, tied to the collapse of TerraUSD, has become a focal point for crypto regulation debates and legal precedents for digital asset accountability.

New Developments

Solana Developers Claim Quantum Resistance

Solana developers announced a major breakthrough, asserting that the network is now quantum-resistant. This innovation could fortify Solana against potential future threats generated by quantum computing, marking a significant step forward in blockchain security.

BlackRock Bitcoin ETF Sees Record Outflow

The world’s largest Bitcoin ETF, managed by BlackRock, recorded its largest-ever outflow as investors took profits during market uncertainty. The sell-off of $332 millions comes when BTC hovers near key resistance levels, leading to mixed signals for its short-term trajectory.

MicroStrategy and MetaPlanet Double Down on Bitcoin

MicroStrategy and MetaPlanet are doubling down on Bitcoin, with plans to acquire billions more as the cryptocurrency inches toward $100K. Their strategy keeps reinforcing institutional confidence in BTC as a long-term hedge and growth asset, which could eventually encourage similar approaches in companies.

Don’t Miss Anything

Vitalik Buterin Advocates for AI Risk Mitigation

Ethereum co-founder Vitalik Buterin has called for a "soft pause" in AI development, urging the industry to better understand and mitigate the risks associated with advanced AI systems. His concerns highlight the growing intersection of blockchain and artificial intelligence ethics.

As 2025 begins, the crypto market continues to showcase resilience and innovation. From major institutional bets on Bitcoin to groundbreaking technological advancements in networks like Solana, the industry remains dynamic. However, regulatory scrutiny and legal cases remind stakeholders of the challenges ahead. Stay tuned for more updates as these stories develop. As the market evolves, being informed and adaptable is crucial for investors and participants. Stay tuned for tomorrow’s newsletter to get the latest insights and updates in the market.