Hello Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Bitcoin's Potential 2x Price Surge: Technical analysis suggests that Bitcoin could experience a significant price surge, potentially doubling in value within the next three months. Analysts point to signals from the Bollinger Bands as indicative of potential bullish momentum, with historical data supporting previous instances leading to a doubling in Bitcoin's price.

2. Do Kwon Found Liable for Fraud: In a significant legal development, a New York jury has ruled in favor of the U.S. Securities and Exchange Commission (SEC), finding Terraform Labs and its founder, Do Kwon, liable for civil fraud charges. The SEC alleged deceptive practices and false promotions related to TerraUSD, resulting in substantial losses.

3. BlackRock's Bitcoin ETF Gains Wall Street Titans Backing: Major financial institutions, including Goldman Sachs, are partnering with BlackRock's spot Bitcoin ETF, signaling growing institutional interest in Bitcoin-related products.

4. Base Surpasses $4B TVL: Coinbase's layer-2 network, Base, has achieved a significant milestone, surpassing $4 billion in total value locked (TVL) amid a surge in transaction activity. Base's 30-day transaction count has outstripped both Ethereum and Arbitrum, highlighting its growing popularity and utility within the crypto ecosystem.

5. 💡Feature of the Day - Canada's $1.8B AI Investment: Canada has unveiled a comprehensive package to bolster its artificial intelligence (AI) sector, committing $1.76 billion to support research, startups, and workforce development.

6. 🫨 What’s Buzzing? - Are you tired of big companies farming your personal data? Might as well try one of the hottest blockchain-based social media platform and you might also win a spot for Friend.Tech’s potential Airdrop! Learn it all from UseTheBitcoin’s latest article “Friend.tech ($FRIEND) Airdrop Guide (Potential Airdrop).”

   
   All this and more in today’s headlines!

📰 News Highlights:

📈 Bitcoin's Potential 2x Price Surge [Source][Source][Source]

Technical analysis suggests that Bitcoin could experience a significant price surge, potentially doubling in value within the next three months. Analysts point to the closing of two consecutive months above the upper Bollinger Band as a signal for potential bullish momentum, with historical data indicating previous instances leading to a doubling in Bitcoin's price. Such a trajectory could propel Bitcoin to around $140,000 by July, according to pseudonymous analyst TechDev.

Nevertheless, the optimism surrounding Bitcoin's potential surge is further buoyed by predictions from industry figures like SkyBridge Capital CEO Anthony Scaramucci, who anticipates Bitcoin reaching as high as $170,000 during the current cycle.

The recent influx of over $12 billion into these ETFs underscores growing institutional and retail interest in Bitcoin, fueling optimism for its future trajectory.

Ripple CEO Brad Garlinghouse also shares this optimism, predicting that the entire crypto sector could double in value by year-end, driven by regulatory developments and increasing adoption of Bitcoin ETFs.

⚖️ Do Kwon Found Liable for Fraud [Source][Source][Source][Source][Source]

In a significant legal development, a New York jury has ruled in favor of the U.S. Securities and Exchange Commission (SEC), finding Terraform Labs and its founder, Do Kwon, liable for civil fraud charges. The SEC alleged that Terraform Labs and Kwon misled investors regarding the stability of their stablecoin, TerraUSD, and made unsubstantiated claims, resulting in substantial losses estimated at over $40 billion.

The verdict comes after a two-week trial, during which the SEC presented evidence of deceptive practices and false promotions by Terraform Labs and Kwon. The SEC seeks civil financial penalties and orders barring Kwon and Terraform from the securities industry.

Despite arguments from Terraform Labs and Kwon's legal team asserting the company's transparency and adherence to regulations, on-going jokes of Do Kwon hiding a Trezor stick carrying 10,000 Bitcoin up his rectum is circling around the internet.

🏦 BlackRock's Bitcoin ETF Gains Wall Street Titans Backing [Source][Source]

The success of Bitcoin ETFs continues to garner attention from major financial institutions, with BlackRock's spot Bitcoin ETF attracting partnerships from prominent banks, including Goldman Sachs. The addition of Citadel, Goldman Sachs, UBS, and Citigroup as authorized participants for BlackRock's iShares Bitcoin Trust (IBIT) highlights growing institutional interest in Bitcoin-related products.

These partnerships facilitate the creation and redemption of shares for the Bitcoin ETF, ensuring its alignment with Bitcoin's price movements. Despite previous skepticism from some executives, including Goldman Sachs' Sharmin Mossavar-Rahmani, the bank's involvement signals a shifting stance towards cryptocurrencies within traditional finance.

As national account platforms gradually embrace these products, the potential for further growth in the ETF market remains significant, driving broader adoption of Bitcoin and other digital assets.

💻 Base Surpasses $4B TVL [Source][Source]

Coinbase's layer-2 network, Base, has achieved a significant milestone, surpassing $4 billion in total value locked (TVL) amid a surge in transaction activity. Base's 30-day transaction count has outstripped both Ethereum and its competitor, Arbitrum, highlighting its growing popularity and utility within the crypto ecosystem.

Ethereum's ongoing efforts to enhance its layer-2 transaction processing capabilities present opportunities for platforms like Base to further capitalize on scalability solutions and drive innovation in decentralized finance (DeFi).

💡 Feature of the Day: 

🤖 Canada's $1.8B AI Investment [Source][Source][Source]

Canada has unveiled a comprehensive package aimed at bolstering its artificial intelligence (AI) sector, committing $1.76 billion to support research, startups, and workforce development.

Key initiatives include the establishment of the AI Compute Access Fund to enhance computing capabilities, funding for AI-related startups in strategic sectors like agriculture and healthcare, and support for small and medium-sized AI scale-up companies.

Additionally, measures to address workforce displacement due to AI advancements and the creation of a Canadian AI Safety Institute aim to ensure responsible development and deployment of AI technologies.

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🫨 What’s Buzzing?:

🚀 Friend.tech ($FRIEND) Airdrop Guide (Potential Airdrop) 🚀

What Is Friend.tech?

• A social media platform on Base blockchain, empowering creators with control over their content and monetization.

• Monetization through "Keys," tokens used to access exclusive content and private chat rooms.

How To Qualify For An Airdrop?

• Visit friend.tech and connect your Web3 wallet.

• Obtain an invite code from existing users or through online platforms.

• Bridge ETH to Base using the official bridge on base.org.

• Purchase "Keys" of influencers you're interested in.

While the timing of the token release is uncertain, engaging with the platform now could be beneficial in the long run. Don't miss out on this potential opportunity and read UseTheBitcoin’s latest article “Friend.tech ($FRIEND) Airdrop Guide (Potential Airdrop)” to learn more!

😂 Crypto Meme of the Day: 

And that’s it for this today.

See you all for tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com