• Cathie Wood’s ARK Invest predicts that Bitcoin could reach $1 million per coin by 2030.
• Smart contract networks are expected to facilitate $450 billion in annual fees, driven by the five converging technologies of public blockchains, artificial intelligence, energy storage, robotics, and multiomic sequencing.
• Digital wallets have the potential to save payment transactions nearly $50 billion in costs with 3.2 billion users and are expected to grow at an 8% annual rate.

Ark Invest Expects BTC Price of $1M By 2030

Cathie Wood’s ARK Invest has released a report predicting that Bitcoin will hit $1 million per coin by 2030 and smart contract networks could facilitate up to $450 billion in annual fees. The overall investment thesis is based on five key converging technologies: public blockchains, artificial intelligence, energy storage, robotics and multiomic sequencing. These sectors are all expected to drive economic growth through digital assets such as crypto currencies and non-fungible tokens (NFTs). In addition, digital wallets are predicted to save nearly $50 billion in payment transaction costs over the next few years as more users adopt them around the world.

Five Converging Technologies

ARK Invest’s report centers around five key technologies which will shape the future: public blockchains, artificial intelligence (AI), energy storage devices, robotics and multiomic sequencing. Each one has been chosen for its potential impact on the economy and how it can be harnessed for growth. Public blockchains provide secure proof of ownership for digital assets such as crypto currencies or NFTs; AI enables machines to learn from data; energy storage can reduce electricity costs; robotics provide efficient labor solutions; while multiomic sequencing unlocks new insights into human health & genetics. All of these technologies combined can create immense value if properly leveraged.

Utility of Smart Contract Networks

Smart contract networks have seen a large increase in utility over recent years due to their ability to codify agreements between parties without intermediaries or third-party involvement required for enforcement. This reduces both cost savings and time savings for parties engaging in these transactions outside of traditional banking systems or other financial institutions. As such, there is an expectation that global NFT transaction volume will skyrocket from today’s $22 billion level to around $120 billion by 2027 – a more than five-fold increase over current levels – driving up demand for digital assets supported by blockchain technology & smart contracts alike.

Digital Wallets Disrupt Traditional Banking

Digital wallets have become increasingly popular over recent years due their convenience compared with traditional banking methods as well as their lower costs associated with sending payments online – both domestically & internationally – without requiring any intermediaries involved at all times (e.g., banks). With 3.2 billion users already onboarding these services worldwide (representing 40% penetration), this technology could easily disrupt traditional banking operations if it continues its rapid growth trajectory with another 8% increase year after year until 2027 when it hits 50% adoption globally according to ARK Invest research estimates .

Property Rights Enhance GDP per Capita

The establishment of property rights is also seen as crucial for increasing standard of living across countries worldwide since it helps bolster the value of digital assets which makes them easier to exchange thus providing individuals/investors/companies with greater access & liquidity options when trading them off against each other or against fiat currencies like US Dollars or Euros etc.. Historically speaking there has been a positive relationship between property rights – both physical & intellectual – together with GDP per capita meaning that nations where citizens enjoy greater freedoms tend towards higher wealth accumulation than those without them so establishing better legal protections should be beneficial overall even if only indirectly through creating more attractive conditions economically speaking overall

• Swiss Bank Cité Gestion has teamed up with Taurus technology to tokenize and manage its company shares on the Ethereum blockchain.
• The tokenization of Cité Gestion’s shares was executed in accordance with the Capital Markets and Technology Association (CMTA) standards.
• Cité Gestion will become the first private bank to issue its own securities under Swiss law.

Switzerland-based private bank Cité Gestion has recently announced a collaboration with Taurus Technology to tokenize and manage its company shares on the Ethereum blockchain, becoming the first private bank to issue its own securities under Swiss law. According to the statement, the tokenization of Cité Gestion’s shares was executed in accordance with the Capital Markets and Technology Association (CMTA) standards.

Cité Gestion Deputy CEO Christophe Utelli remarked that the application of the CMTA standards will ensure that adequate risk management is considered while issuing the tokenized assets. Utelli added:“It was important for our bank to be among the first to take advantage of the new possibilities offered by Swiss law for the digitization of securities by tokenizing our own shares.“

Using the Ethereum blockchain, Cité Gestion will be able to create, distribute, and manage the servicing of its shares. This will enable the bank to issue its own securities in a secure and efficient manner, allowing it to better serve its clients.

Taurus, founded in 2018, has helped over 15 companies tokenize their securities across Switzerland and Europe. The company believes that the digitalization of private assets and securities will become the new standard.

Commenting on the collaboration, Taurus CEO, Andreas Wieland said: “We are delighted to support Cité Gestion in tokenizing their own shares. This is a big step forward for the industry and we are proud to be part of this milestone.”

The new collaboration between Cité Gestion and Taurus Technology is an important milestone in the tokenization of private securities. The successful implementation of the project will pave the way for other private banks to issue their own securities on the Ethereum blockchain in a secure and efficient manner.

• Ethereum’s Shanghai upgrade in March will enable withdrawals from the beacon chain by granting ETH validators the ability to unstake.
• The ETH merge took place in the Bellatrix upgrade in September 2022, transitioning from Proof of Work (POW) to Proof of Stake (POS).
• Currently, the number of beacon chain validators has reached 500,000 with a total of over 16 million ETH staked in the ETH 2.0 deposit contract.

Ethereum is set to undergo a major upgrade in March of this year with the release of the Shanghai upgrade. The upgrade will grant ETH validators the ability to unstake and withdraw their ETH from the beacon chain, granting them access to the much-needed liquidity that has been locked up since the transition from Proof of Work (POW) to Proof of Stake (POS) in September of 2022.

Currently, there are over 500,000 beacon chain validators, with a total of 16 million ETH staked into the ETH 2.0 deposit contract. These validators have each deposited 32 ETH before being able to begin operations, but with the majority of stakers currently at a loss, the Shanghai upgrade will be a welcome change for many. It will allow stakers to decide whether to sell at a loss or hold long-term until back in profit.

The Shanghai upgrade will also enable stakers to access their ETH rewards from the beacon chain, which has been largely inaccessible until now. This will be achieved by the use of a new „0x01“ signature format, which will allow validators to securely sign messages and transactions. The upgrade is also expected to bring with it improved scalability and efficiency, as well as new features such as sharding, which will allow transactions to be processed in parallel.

The Shanghai upgrade will be a major milestone for the Ethereum network and will mark the end of the transition to a fully decentralized Proof of Stake consensus mechanism. With the upgrade expected to bring an influx of liquidity, it will be interesting to see how the market responds. It is likely that we will see an increased demand for liquid staking derivatives such as staking pools and staking-as-a-service products as investors look for ways to take advantage of the unlocked ETH.

• FTX debtors in the U.S. and its liquidators in the Bahamas have agreed on an asset recovery plan.
• The plan involves sharing information, returning property, filing litigation against other parties, and maximizing stakeholder recoveries.
• The two parties have settled on inventorying crypto assets that the Bahamas Securities Commission currently holds in a Fireblocks wallet.

FTX, a major cryptocurrency exchange, has announced that its debtors in the United States and its liquidators in the Bahamas have reached an agreement on an asset recovery plan. This plan is meant to maximize stakeholder recoveries and ensure that former FTX customers are made whole.

The plan involves multiple steps and actions. The two parties have agreed to share information, arrange the return of property, and file litigation against other parties if necessary. Additionally, they have settled on inventorying crypto assets that the Bahamas Securities Commission currently holds in a Fireblocks wallet. The Commission has been safeguarding these assets, and both parties are reportedly satisfied by their efforts.

John J. Ray III, FTX’s CEO and Chief Restructuring Officer, praised the efforts of the Joint Provisional Liquidators of FTX DM. He noted that while there are still some issues that require further discussion, many issues have been settled and a path forward has been established.

The Bahamas Securities Commission has been at the center of the dispute since December 29th, when it admitted to holding $3.5 billion of crypto. FTX also claimed that regulators seized $300 million without any right to do so. Now, with the two halves of FTX agreeing to cooperate on various efforts, it appears that a resolution may be in sight.

• Ault Alpha has purchased 50 million shares of BitNile common stock since September 2021, equating to a 13% stake in the company.
• BitNile Executive Chairman Milton Ault has announced that Ault Alpha is inclined to continue purchasing the company’s stock as long as current market conditions remain unchanged.
• BitNile is planning to rebrand as „Ault Alliance“ in the near future.

Ault Alpha has made a major move in the cryptocurrency market, purchasing 50 million shares of BitNile common stock since September 2021. This amount equates to a 13% stake in the company as of press time. The purchase marks a major development in the company’s growth, and further cements their place in the market.

BitNile Executive Chairman Milton Ault has commented on the purchase, stating that Ault Alpha is inclined to continue purchasing BitNile’s stock as long as current market conditions remain unchanged. He also announced that Ault Alpha will be adopting a new 10b5-1/10b-18 plan in the near future.

In addition to the purchase of BitNile’s stock, the company has recently purchased Circle 8 and is in the process of rebranding as “Ault Alliance”. The rebranding is set to take place in the near future, and is expected to further cement the company’s presence in the market.

BitNile’s recent moves have made it clear that the company is looking to expand its reach and become a major player in the cryptocurrency market. With the purchase of 50 million shares of BitNile stock, Ault Alpha is poised to help the company do just that. If the current market conditions remain unchanged, Ault Alpha will likely continue to purchase stock in the company, further strengthening their stake in the market.

As BitNile continues to grow and further establish itself in the market, it will be interesting to see the impact the company’s growth has on the cryptocurrency world. With the rebranding of the company as “Ault Alliance” and the purchase of 50 million shares of BitNile stock, it is clear that the company is aiming to become a major player in the industry.

• On-chain data suggests that former FTX founder Sam Bankman-Fried (SBF) has allegedly moved Ethereum (ETH) worth $684,000 to RenBridge and a Seychelles-based exchange.
• The transactions allegedly carried out by SBF could be a violation of his $250 million bail terms, which restrict him from conducting transactions above $1,000 without court approval.
• On-chain sleuth BowTiedlguana identified three wallets that were allegedly involved in the transactions, which were linked to Alameda Research and SBF’s public wallet.

Sam Bankman-Fried, the founder of now-defunct crypto exchange FTX, has been accused of allegedly moving Ethereum (ETH) worth $684,000 to RenBridge and a Seychelles-based exchange, according to on-chain data.

On-chain sleuth BowTiedlguana reported the alleged transactions in a Twitter thread, claiming that they could be a violation of Bankman-Fried’s $250 million bail terms. According to the terms of his bail, Bankman-Fried is restricted from conducting transactions above $1,000 without court approval.

The transactions began on Dec. 28, when Bankman-Fried allegedly emptied his public wallet by sending 0.6659 ETH, worth around $806.51 at the time, to a newly created address, as per Etherscan data. This newly created address received around 185.1928 ETH from wallets tagged as Alameda Research within a few hours, according to on-chain data.

Alameda Research was a now-defunct hedge fund that was owned by Bankman-Fried and filed for bankruptcy along with FTX on Nov. 11. Additionally, the new wallet received 384.95 ETH, worth around $458,348, from various wallets.

From the new wallet, 519.95 ETH was transferred to an address that also received funds from Alameda Research wallets, as per on-chain data from Etherscan. This third wallet then sent 478.88 ETH, worth around $684,000, to RenBridge and a Seychelles-based exchange.

While the exact purpose of these transactions remains unclear, the fact that Bankman-Fried allegedly conducted them without court approval raises questions about whether he violated his bail terms. If the allegations are proven to be true, he could face serious consequences.

Regardless, the news has once again raised concerns over the reliability of crypto exchanges, as well as the need for stricter regulations to protect users. It also highlights the importance of understanding the risks associated with cryptocurrency trading, and the need for caution when dealing with digital assets.