The firm’s head of digital assets highlights the launch of Bitcoin spot ETFs in early January as a key factor that has influenced investor sentiment.
Goldman Sachs remains confident in Bitcoin despite the recent price drop to $60,000. Mathew McDermott, head of digital assets at the company, points to a significant increase in institutional investors in the cryptocurrency market, which was previously dominated by retail investors.
McDermott attributes this change to a growing interest in Bitcoin, even after a drop from its all-time high near $73,798.
Argentina Seeks Refuge in Bitcoin in the Face of Peso Instability
Argentina is going through a complex economic situation, with inflation reaching alarming levels, reaching up to 276%. In the midst of this recession, something interesting is happening: Argentinians are turning to Bitcoin as a way to protect their money.
For a long time, the US dollar has been the safe haven for Argentinians, but lately, it has lost some of its appeal. Instead, Bitcoin is proving to be a more effective alternative, as Bloomberg points out.
In the last two months, the Argentine peso has gained 10% compared to the dollar. However, in the same period, the value of Bitcoin has increased by 60% against the dollar.
Last week, the Lemon crypto platform, one of the most popular in Argentina, registered a record of 35 thousand Bitcoin purchase transactions. This is double last year’s seven-day average.
Tornado Cash Developer Accused of Laundering $1.2 Billion
The developer behind the well-known cryptocurrency mixer Tornado Cash, Alexey Pertsev, is under accusation of laundering more than $1.2 billion, although prosecutors have not presented concrete arguments to support his claims.
According to prosecutors’ sources, Pertsev allegedly “had a habit of laundering money” through the Tornado Cash platform, and now faces the legal consequences of his actions. DL News reports detail these allegations, referencing a police document that supports the prosecution’s claims.
The accusations against Pertsev center on his alleged complicity in money laundering activities through Tornado Cash. Prosecutors have flagged at least 36 transactions they consider potentially illegal, sent to the cryptocurrency mixer.
SEC Extends Decision Deadline on VanEck Ethereum ETF, Seeking Public Comments
The Securities and Exchange Commission (SEC) has announced a delay in its decision schedule on the VanEck Ethereum ETF.
According to a statement issued on Wednesday, the SEC has reported that it will extend the deadline until May 23, 2024 to make a decision on this ETF, also requesting public comments on the matter.
In its statement, the agency explained that it believes it is necessary to designate a longer period to evaluate the proposed rule change, as modified by Amendment No. 1, as well as to address the issues raised in connection with this fund.
Mexican Representative Proposes Regulating Blockchain Technology Use
Morena’s deputy, Jesús Roberto Briano Borunda, seeks to regulate blockchain through Financial Technology Institutions (ITF), of which 9% of the 1,359 are based on that technology. Roberto Briano sees it as a priority to create a legal framework to implement controls by authorities and in the financial sector.
To do this, the deputy suggests modifying articles 2, 48 and 56, which would force the National Banking and Securities Commission (CNBV) to issue new provisions for the operation of blockchain technology in the ITF.
The Mexican regulator, the CNBV, should, if the initiative is approved, create security and information parameters on the use of blockchain in financial transactions, as well as confidentiality policies and account records in shipments.
By Audy Castaneda
