#BTC

"We will compensate users for up to 50% of the stolen assets. Additionally, 'tokenized claims' will be issued, with an intent for Mixin to buy them back from future profits." Moreover, the BTC.TOP mining pool's CEO is adamant that the bitcoins held within Mixin's protocol shouldn't have gone missing. He emphasized that Mixin's standard practice was to keep their bitcoins in cold storage, making them impervious to the cloud server breach that compromised their hot wallets.

FTX's portfolio liquidation is unlikely to shake the market significantly, as noted by Coinbase in their latest weekly report. They cited multiple reasons supporting this claim. 1. Weekly Sell Limits: Initially, liquidations are capped at $50 million per week for digital assets. This limit will gradually increase to $100 million in subsequent weeks. Any permanent increase to a maximum limit of $200 million requires approval from two committees representing FTX debtors. 2. Insider-Affiliated Tokens: Stricter controls govern the sale of “insider-affiliated” tokens, necessitating a 10-day advance notice to the same committees. 3. Locked Holdings: A significant portion of FTX’s SOL holdings, along with some other tokens, are locked until approximately 2025 due to token vesting schedules, limiting their availability for sale. 4. Hedging Measures: FTX has the option to hedge its sales of BTC, ETH, and other debtor-identified assets through an investment advisor, contingent on prior committee approval. These precautions ensure a measured and controlled approach to asset liquidation.

Amid the evolving crypto landscape, one prediction stands out: Davis Hui from Caanan foresees BTC's price potentially skyrocketing to $100,000 by 2024. This bullish forecast is rooted in upcoming events like the bitcoin halving, set to diminish the BTC issuance rate by halving miner rewards. Compounding this optimistic view is the undeniable attention from financial powerhouses, with BlackRock, boasting $10 trillion in assets, as a prime example. For Hui, it's this mix of major institutional influx and a shrinking bitcoin supply that suggests a bullish future for BTC.