The week has been an exciting one for cryptocurrency investors, with some shocking news.
The five top news of the week in the world of crypto are presented below:
- Ripple lawyer predicts a record price for Bitcoin.
- Arbistar founder, accused of macro-scam with cryptocurrencies, is sent to prison by court order.
- Switzerland announces the issuance of its own digital currency.
- BBVA Spain joins the cryptocurrency trend with the investment offer in Bitcoin bonds for its clients.
- Argentina converts seized cryptocurrencies to pesos.
Ripple Lawyer Predicts Record Price for Bitcoin
John Deaton, Ripple’s lawyer, has made a bold prediction about the price of Bitcoin in the near future. In a recent post on Twitter, he predicted that the price of the world’s largest cryptocurrency could hit $300,000 in the near future.
Deaton’s prediction is based on analysis of previous Bitcoin market cycles. In his view, the cryptocurrency has followed a market cycle pattern in the past, in which the price rises rapidly after a significant drop.
Arbistar Founder, Accused of Macro Scam with Cryptocurrencies, is Sent to Prison by Court Order
Judge José Luis Calama, instructor of the National Court of Spain, has ordered the provisional imprisonment of Santiago Fuentes Jover, founder of Arbistar, an alleged macro pyramidal scam with cryptocurrencies, accused of fraud and of belonging to a criminal organization. The scam affected more than 32,000 investors from various countries, who invested around 1,000 million euros in the platform.
The magistrate considers there is a high risk of escape due to the seriousness of the penalties he faces, up to 18 years in prison, as well as the possibility of accessing the more than 92 million euros allegedly defrauded.
Switzerland Announces Issuance of Its Own Digital Currency
The Swiss National Bank (SNB) has announced that it will issue a wholesale central bank digital currency on the Swiss digital exchange SIX, as part of a pilot project.
According to the president of SNB, Thomas Jordan, this digital currency is real money equivalent to bank reserves, with the aim of testing real transactions with market participants. The pilot project, which will start soon, will have a limited duration.
While the SNB has yet to decide whether to launch a retail CBDC, Jordan stated that they do not exclude the possibility of introducing them in the future.
BBVA Spain Joins the Cryptocurrency Trend with the Offer of Investment in Bitcoin Bonds for its Clients
BBVA Spain has incorporated the Fidelity Physical Bitcoin ETN bond into its product offering. The bond, issued by the asset manager Fidelity, is registered with the National Securities Market Commission and allows BBVA customers in Spain to invest in Bitcoin through the bank’s App and website.
BBVA customers in the European Union and Latin America can exchange Bitcoin through the bank’s Swiss subsidiary.
Argentina Converts Seized Cryptocurrencies to Pesos
The Specialized Fiscal Unit for the Investigation of Cybercrimes of the Department of San Isidro in Argentina, seized $5,000 in cryptocurrencies from a 28-year-old hacker, specialized in SIM exchange to steal funds.
This is the first criminally-derived cryptocurrency seizure in Argentina, and seized funds in Bitcoin, USDT, Bit Torrent, Kava and Cardano will be converted into Argentine pesos.
The Prosecutor’s Office did not specify why the funds will not be returned to the victims of the robbery through SIM-swapping.
By Audy Castaneda
