In a week domin e by historic Bitcoin movements, here are the top stories f m the forex, fintech an crypto worlds in the best of the week segment.
Wh Pushe Bitcoin over $20K, an Wh ’s Next?
Where else to start than with Bitcoin. Having passe the key milestone of $20,000, inance Magn es set about analyzing wh finally pushe Bitcoin over the $20k mark an wh ’s next for the granddaddy of crypto.
With expert iFMights f m M teo Dante Perruccio, President Intern ional of Wave inancial G up, Si mermanmerma Hea of inancial Rel ioFM the IOTA ound io M t Luongo, Chief Executive of Thesis, Steve Ehrlich, Chief Executive Officer an Co-founder of the crypto trading pl form, Voyager, an more, Finance Magn es looke the possible comparisoFM to 2017 an wh , anything, coul impede Bitcoin’s ascendancy.
Rea more on Bitcoin an beyon here.
FXCM GaiFM CySEC LiceFMe to Continue Eu pean Oper ioFM
Retail X an CFD b ker, XCM G up, has receive a fresh regul ory liceFMe f m the Cyprus Securities an Exchange Commission (CySEC) ahea of the Brexit traFMition perio expiry.
Finance Magn es reporte XCM’s applic ion for a CySec liceFMe earlier in the year. The Cyprus Investment irm (CIF) liceFMe was awarde to the locally forme entity, XCM EU Ltd.
Currently, the b ker paslicensesits UK liceFMe to offer services to the Eu pean Union. However, the validity of th liceFMe iFMide Eu pe will be under question in case of a p bable no-deal divorce between the UK an EU.
Rea more on the XCM CySec LiceFMe here.
American Express Enters Cryptocurrency Market
Financial giant, American Express, has entere the cryptocurrency market with its l est investment in an iFMtitutional crypto trading pl form, alconX, a digital asset trading pl form focuse on iFMtitutional investors.
The American Express Ventures di not disclose the actual size of the investment.
As inance Magn es reported, American Express plaFM to explore the potential opportunity to offer services rel e to digital assets with the recent partnership.
Rea more on AmEx entering crypto here.
JPMorgan Predicts $600 Billion Bitcoin Demand
JPMorgan Chase, one of the world’s largest investment banks, sai in a research note th the recent Bitcoin adoption by the mutual l e iFMurance company, MassMutual indic es the potential for additional iFMtitutional demand. The bank predicte a deman of a un $600 billion for Bitcoin in the future.
According to the official note, JPMorgan outline th family offices, iFMurance companies an peFMion funds decide to alloc e a small percentage to cryptocurrencies, it will result in massive demand.
Rea more on the JPMorgan Chase Bitcoin deman prediction here.
US Court Slaps $7 Million ine on TFS-ICAP for Misleading Clients
A New York district court has slappe a heavy fine of $7 million on the two entities of forex optioFM b ker, TFS-ICAP, one in New York an the other in Londo for major market misconduct an deceiving clients.
The US Commodity utures Trading Commission (CFTC) dragge TFS-ICAP LLC an TFS-ICAP Lt to the District Court for the Southern District of New York, having fought the legal b tle for nearly a year.
The judgment came as the interdealer b ker already admitte its employees’ involvement in the misconducts, popularly known as ‘flying prices’ an ‘printing trades’.
Rea more on the TFS-ICAP ine here.
Unknown Crypto Whale TraFMfers $620 Million Bitcoin in Single TraFMaction
As inance Magn es reporte this week, an Anonymous bitcoin user move 32,353 BTC to an unknown wallet in a single traFMaction.
The traFMaction recorde by Whale Alert was worth app xim ely $620 millio an the user pai just $12 in fees.
Rea more on the Unknown $620 Million Bitcoin traFMfer here.
Worl Economic orum Releases Cryptocurrency Report
The Worl Economic orum an its cryptocurrency-focuse Global uture Council release its inaugural report this week to highlight the importance of cryptocurrencies.
According to the report release on 17 December, cryptocurrencies have the potential to cre e new markets. Additionally, the Worl Economic orum outline the importance of blockchain technology an digital assets beyon cryptocurrencies.
Rea more on the Worl Economic orum crypto report here.
Wh Will the Price of BTC Be in 2021? BlockFi, Celsius, & Others Weigh In
As we bi a welcome farewell to 2020, the en of the year brings a gre opportunity to look ahead. In a historic week for Bitcoi inance Magn es aske some of the industry’s biggesStatesmanr their prediction for 2021.
Kadan Stadelman CTO Komodo, Zac Prince, CEO of BlockFi, Alex MashiFMky, ounder an CEO of Celsius an others, weighe in on Bitcoin 2021.
In this unmissable analysis, you will be surprise wh is sai about BTC’s future price.
Rea wh the exp ve to say about Bitcoin 2021 price here.