### Bitcoin ATMs in Hong Kong
On **November 14, 2024**, Bitcoin ATMs were prominently seen outside a **cryptocurrency exchange** in **Hong Kong**. This sighting reflects the growing **acceptance and integration** of Bitcoin within urban settings, signaling a shift in how the public interacts with digital currencies.

The presence of these ATMs indicates a **rising demand** for Bitcoin in the region, showcasing the **infrastructure development** that supports crypto transactions. As more people turn to Bitcoin for various transactions, the installation of ATMs becomes an essential element in facilitating access to this **decentralized currency**.

As we witness such advancements, it raises questions about the future of **cryptocurrency adoption** globally and its potential impact on traditional finance systems. What does this mean for investors and the economy at large?

Bitcoin ATMs outside a cryptocurrency exchange in Hong Kong, seen on November 14, 2024

Bitcoin ATMs in Hong Kong: A Glimpse into the Crypto Future

### Ex-Delivery Driver Ordered to Repay **$3.78 Million** for Bitcoin Money Laundering

**Jian Wen**, a former U.K. takeaway worker, has been ordered to repay over **$3.78 million (£3.1 million)** due to his conviction for money laundering involving **Bitcoin**. Failure to comply could result in an additional **seven years in prison**.

Wen, aged 42, was previously sentenced to **six years and eight months** in prison following his connection to a cryptocurrency wallet containing **150 Bitcoin**, valued at nearly **$15 million** at current prices. Prosecutors highlighted that the significant amount of seized Bitcoin, combined with the absence of legitimate evidence regarding its acquisition, indicated that it was **criminal property**.

The **National Crime Agency (NCA)** and police in the UK have recently received enhanced powers to **seize, freeze, and destroy** cryptocurrencies used in criminal activities. This move aims to combat the rising concern of **crypto crime**, with reports indicating that up to **$5.1 billion** in illicit crypto transactions are linked to the UK annually.

In a related case, the **Metropolitan Police** seized Bitcoin wallets estimated to be worth over **£300 million ($364.75 million)**. Investigators found no legitimate explanation for the funds involved in Wen's case, which also included the purchase of two properties in **Dubai** worth more than **£500,000**. Wen claimed these purchases were made on behalf of a Chinese national and denied any connection to criminal proceeds.

The court determined that Wen profited **£3,500,113** from criminal activities, with current assets assessed at **£3,126,572**. He must pay this amount within **three months** or face an extended prison sentence. If additional assets are uncovered, he will be held accountable for the outstanding balance beyond the current **Confiscation Order**.

The delivery driver was previously sentenced to six years and eight months in prison after being linked to a cryptocurrency wallet containing 150 BTC.

Ex-Delivery Driver Faces $3.8 Million Bitcoin Repayment After Money Laundering Conviction

### **Panic Selling and Bitcoin's Price Movement**

**Standard Chartered** has issued a warning regarding the potential for a **self-fulfilling sell-off** if Bitcoin approaches the **$90,000** mark again. This situation could exacerbate market volatility, leading to even steeper declines for Bitcoin.

### **Understanding the Dynamics**

The financial institution suggests that if Bitcoin retraces back to **$90,000**, a wave of **panic selling** might ensue among investors, spiraling the cryptocurrency into a more significant downtrend. The concern is that the **fear of loss** could trigger more selling, thereby amplifying the downward pressure on prices.

### **Market Sentiment and Investor Behavior**

Investor sentiment plays a crucial role in this scenario. As prices fluctuate, the psychology of the investors can lead to drastic reactions. **Standard Chartered's** analysis highlights the importance of understanding market psychology to mitigate risks associated with sudden price drops.

### **Conclusion**

With Bitcoin's price hovering around significant levels, it is essential for investors to stay informed and be cautious. The potential for a **self-fulfilling prophecy** of selling could alter the market landscape dramatically if not managed carefully.

Panic selling could invite even steeper declines if bitcoin slides back to $90,000, says Standard Chartered.

Is Bitcoin's Surge to $90,000 a Recipe for Panic Selling? Insights from Standard Chartered

### Major Developments in the Bitfinex Hack Case

U.S. prosecutors have recently filed a motion requesting a federal judge to approve the return of **94,643 bitcoins**, nearly **80%** of the **119,754 bitcoins** stolen during the infamous **2016 Bitfinex hack**. This significant development could lead to a major restitution for the crypto exchange.

In their filing, prosecutors indicated that these bitcoins, recovered from the original wallet of hacker **Ilya Lichtenstein**, can be returned to Bitfinex as restitution once the court grants the necessary permission. Additionally, any **Bitcoin Cash**, **Bitcoin Satoshi Vision**, and **Bitcoin Gold** generated through subsequent hard forks will also be included in this restitution.

### Sentencing of the Hackers

In a related case, Lichtenstein was sentenced to **5 years in prison** after pleading guilty to conspiracy to commit money laundering in **2023**. His wife, **Heather Morgan**, also known by her rap name **Razzlekhan**, received an **18-month sentence** for her involvement in laundering a part of the stolen funds. As part of their plea agreements, both have agreed to forfeit the stolen cryptocurrency.

### Complications in Returning Remaining Bitcoins

However, the return of the remaining **25,000 bitcoins** will be more complex. Prosecutors pointed out that Lichtenstein and Morgan used a range of **sophisticated methods** to launder these coins, including:
- Extensive **peel chain transactions**
- Transactions through **non-compliant virtual currency exchanges**
- **Darknet markets** and **mixers**
- Commingling funds in their personal and business accounts

Due to these complexities, the remaining bitcoins cannot be classified as the **specific property** lost in the hack. Consequently, they will need to be returned through an **ancillary forfeiture proceeding**.

The remaining 25,000 bitcoins stolen in the 2016 hack must be returned through a more complex claims process.

U.S. Court Moves to Return 94,643 Stolen Bitcoins to Bitfinex: What You Need to Know

Bitcoin (CRYPTO: BTC) stands out as a unique asset that could serve as a **safe haven** during challenging economic times. While its advantages are well-known to enthusiasts, many remain unaware of how Bitcoin can protect their financial interests in turbulent markets.

### The Finite Supply of Bitcoin
The maximum supply of Bitcoin is capped at **21 million**, according to its protocol. By 2024, around **20 million** bitcoins had already been mined. The last million will take a considerable time to be mined, but this scarcity underscores Bitcoin's potential as a **store of value**.

### Inflation-Proof Currency
What do you call a currency that cannot be inflated? **Inflation-proof** is a fitting description for Bitcoin. Unlike traditional currencies such as the dollar and euro, which can be printed in excess, Bitcoin’s limited supply ensures that it can retain its value even as other currencies depreciate.

### The Ongoing Threat of Global Inflation
Global inflation has significantly impacted investors in recent years and may continue to do so. Governments, particularly in the West, are increasing commitments to defense, green energy, and social spending amid aging populations. While there is no certainty that these actions will lead to more currency issuance and inflation, Bitcoin's fixed supply means it won't be affected in the same way.

### A Safe Haven for Investors
In an environment where other currencies may devalue, Bitcoin offers a refuge. Even if its price fluctuates, it cannot be inflated to the point where its purchasing power diminishes. Many investors today hold Bitcoin in investment or retirement accounts, which may limit direct access to the cryptocurrency's protective mechanisms, but it provides significant advantages in times of financial stress.

Bitcoin (CRYPTO: BTC) is unique as an asset in a few key ways that could make it a safe haven in difficult economic circumstances.  The maximum number of bitcoins that can ever exist is 21 million, per the constraints of its protocol.  Indeed, the specter of global inflation has been one of the main factors affecting investors over the last few years, and it might not be done yet.

How Bitcoin Could Be Your Lifeline in Economic Turmoil: 3 Key Insights for 2025

## Bitcoin and Crypto Prices Surge
Bitcoin and crypto prices have recently bounced back, with Bitcoin approaching **$100,000** after a sudden downturn that sparked fears of a crypto crash. This rebound follows **Donald Trump's election victory**, which has been linked to a significant rise in Bitcoin value.

## Trump's Imminent Executive Orders
As Trump prepares to return to the White House, he is expected to issue several **crypto-related executive orders** on January 20. These orders may include measures to address issues such as **de-banking** and the repeal of a controversial crypto accounting policy that requires banks to treat crypto as liabilities. An anonymous source indicated that prioritizing these orders is essential for the incoming administration.

## Bitcoin's Price Rally and Economic Factors
The latest U.S. economic data showing inflation trends has led to a surge in Bitcoin prices, with Bitcoin nearing the **$100,000 mark**. Analysts believe that the Federal Reserve may reduce interest rates through 2024, providing liquidity that benefits risk assets like Bitcoin. Alex Kuptsikevich, the FxPro chief market analyst, noted that Bitcoin is currently testing key price levels, indicating a recovery in risk appetite.

## Predictions for Bitcoin's Future
Geoff Kendrick, head of crypto research at Standard Chartered Bank, maintains a **bullish outlook** for Bitcoin, predicting a price target of **$200,000 by the end of 2025**. He suggests accumulating long positions in anticipation of institutional inflows under Trump's administration.

## Operation ChokePoint and Regulatory Changes
The so-called **Operation ChokePoint 2.0** has created challenges for crypto companies, with claims that financial regulators have pressured banks to sever ties with these businesses. Prominent venture capitalist Marc Andreessen has been vocal about these issues, indicating a potential shift in the regulatory landscape under Trump's leadership.

## Major Developments in Crypto Accounting
Michael Saylor, CEO of MicroStrategy, has been campaigning against the accounting policy requiring companies to report crypto as liabilities. He believes that repealing this policy could catalyze a Bitcoin price rally to **$5 million**, significantly increasing Bitcoin's market capitalization to **$100 trillion**. Recent developments, including BlackRock's entry into the Bitcoin ETF space, have further fueled optimism in the market. 

![Donald Trump and Bitcoin](https://specials-images.forbesimg.com/imageserve/673ebf0b7db7a827666a7939/Donald-Trump--Trump--bitcoin--bitcoin-price--crypto--bitcoin-price-prediction--image/960x0.jpg?cropX1=203&cropX2=2104&cropY1=291&cropY2=1529)

## Conclusion
The combination of Trump's return, expected regulatory changes, and favorable economic conditions may set the stage for a remarkable resurgence in Bitcoin prices, with many investors keeping a close eye on developments in the coming weeks.

Donald Trump, the self-styled bitcoin and crypto president, will reportedly issue several crypto-related executive orders on his first day back in the White House...

Bitcoin's Price Explosion: How Trump's Return Could Ignite a $100 Trillion Crypto Boom

### Unexpected Decline in Core CPI Sends Bitcoin Price Higher

Bitcoin (BTC) has been **consolidating** in a range **10%-15% below record highs** as investors tempered expectations for further interest rate cuts. However, recent data has sparked renewed interest.

While **headline inflation** rose faster than anticipated in December, an **unexpected decline** in the year-over-year **core rate** has led investors to buy. The **Consumer Price Index (CPI)** increased by **0.4%** in December, slightly above analyst consensus and up from **0.3%** in the previous month. On a year-over-year basis, CPI was up **2.9%**, aligning with forecasts but higher than November's **2.7%**.

The **Core CPI**, which excludes volatile food and energy prices, rose by **0.2%**, meeting expectations but down from **0.3%** the previous month. Year-over-year, core CPI dipped to **3.2%**, slightly below forecasts of **3.3%** and November's **3.3%**.

This core inflation rate is crucial for policymakers, who have expressed frustration over its persistence above **3%**, even as headline inflation decreased more rapidly.

Following the CPI report, Bitcoin's price surged by **approximately $1,500**, reaching **$98,500**, marking a **2%** increase over the past 24 hours. In traditional markets, U.S. stock index futures rose by **0.5%**, while bond yields and the dollar fell sharply.

Throughout January, crypto markets have traded within a range, influenced by **macroeconomic data** and shifting **monetary policy expectations** amidst a strong economy and concerns of persistent inflation. Bitcoin has largely remained below **$100,000** since **Federal Reserve Chair Jerome Powell's** hawkish comments in December, which, alongside stronger-than-expected economic data, led to diminished expectations for rate cuts this year.

Most recently, the **Producer Price Index (PPI)** for December showed cooler-than-expected inflation readings, supporting Bitcoin's rebound to **$97,000** after an abrupt sell-off below **$90,000** earlier in the week.

Bitcoin (BTC) price has been consolidating in a range 10%-15% below record highs as investors largely tempered expectations of further interest rate cuts.

Bitcoin Surges Past $98K: What the Latest CPI Data Means for Investors

## Corporate Bitcoin Adoption Forges Ahead as More Listed Firms Ride the Wave

Bitcoin (BTC) adoption by **U.S.-listed public companies** continues at full speed. Recently, four firms announced significant bitcoin purchases, while seven others revealed strategies without acquisitions.

### Recent Bitcoin Purchases

The latest major purchase comes from **NYSE-listed Genius Group (GNS)**. On **January 10**, GNS disclosed that it had increased its bitcoin holding to **$35 million**, surpassing its initial target of **$120 million**. In this acquisition, the company purchased **372 BTC** at an average price of **$94,047** per bitcoin. This was part of their **"Bitcoin-first" strategy** announced on **November 12**.

In addition, GNS also reported a **rights offering** that allows shareholders to purchase additional shares at discounted prices, potentially generating **$33 million** if fully subscribed. GNS founder and CEO **Roger Hamilton** plans to buy **500,000 shares** in this offering. Shares of GNS closed **7% higher** following this news.

### Other Notable Acquisitions

Alongside GNS, **Nasdaq-listed Ming Shing Group (MSW)**, a wet trades service provider, also made headlines by purchasing **500 BTC** at an average price of **$94,375** per bitcoin. MSW shares have seen a **43% increase** year-to-date.

The new wave of **bitcoin treasury adoption** continues to surge, with four publicly traded companies making bitcoin purchases and seven companies announcing strategies without acquisitions.

![Wave 2 BTC Corporate Adoption (PR Newswire)](https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2F64eb7fb70bc8a39c438582a8e967ab36d423135f-976x1302.png%3Fauto%3Dformat&w=1080&q=75&dpl=dpl_4pNNn1hbYtbBKJCzqagnfktiDpSk)

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In the last few weeks, four firms have announced bitcoin purchases, while seven companies announced a strategy, but no acquisition. 

Bitcoin ATMs in Hong Kong: A Glimpse into the Crypto Future

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