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Can BTC reach $100k?

For crypto, things are going as expected, according to Standard Chartered Bank, which reiterated its April forecast that bitcoin (BTC) would reach $100,000 by the end of 2024. The bank's Geoff Kendrick and team wrote the next catalyst will be the approval of several U.S.-based spot bitcoin exchange-traded funds (ETF). “We think a number of spot ETFs will now be approved in Q1-2024 for both BTC and (ETH), paving the way for institutional investment,” they said. The team also noted that the next Bitcoin ‘halving’ – a mechanism to limit supply and expected to take place in late April 2024 – will be another source of price upside.

Digital Currency Group (DCG) and Genesis Global have reached a repayment plan to settle their lawsuit, according to a new bankruptcy filing. In September, lending firm Genesis filed a lawsuit against DCG, alleging wrongful possession of over $620 million in loans and seeking repayment, interest, and fees amid Genesis' bankruptcy proceedings. So far, DCG has paid approximately $227.3 million of the $620 million it owes. The deal would see DCG pay another $275 million to Genesis in three installments, partially in U.S. dollars and bitcoin, due by April. The deal also includes a $35 million upfront payment and a $10 million holdback from the recent sale of CoinDesk. According to the filing, DCG is also pegging Grayscale Trust shares as security. The deal still needs to be approved by creditors.

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