An analyst predicts that XRP could reach $4 by the end of February amid other significant developments in the cryptocurrency world. The parents of former FTX CEO Sam “SBF” Bankman-Fried are reportedly considering seeking a presidential pardon from Donald Trump for their son, who is serving a 25-year prison sentence. Meanwhile, Binance’s legal team argued in a U.S. court that there was no special relationship between the exchange and Hamas as they sought to dismiss a lawsuit filed by families of victims of a 2023 attack.
Kraken has reinstated staking services in the U.S. after a two-year pause following a settlement with the SEC. The service is now available for 17 digital assets in 37 states. In other news, Elon Musk’s father is reportedly planning to launch a memecoin named “Musk It” to raise $200 million to fund a think tank.
MicroStrategy has announced the pricing of its perpetual strike preferred stock offering at $80 per share. The company aims to generate $563.4 million from this offering, with proceeds designated for the acquisition of Bitcoin and operational costs.
In market performance, Bitcoin sits at $102,408, Ether at $3,311, and XRP at $3.05. Notable gainers include Onyxcoin, MANTRA, and Jupiter, while Pudgy Penguins, Fartcoin, and the Official Melania Meme face losses.
Quotations from figures such as Pear Protocol founder Huf Haus and Ripple Labs CEO Brad Garlinghouse highlight the market’s dynamics. Analysts suggest XRP might surpass $4 due to positive regulatory developments and adoption by financial institutions.
In Europe, exchanges like Crypto.com prepare to delist Tether’s USDT in compliance with the EU’s MiCA framework. Meanwhile, a Chinese court convicted BKEX staff for illegal gambling via cryptocurrency contracts. Additionally, Gemini announced it would not hire MIT graduates unless the university cuts ties with former SEC Chair Gary Gensler, citing ongoing tensions with the regulator.
The week’s events encapsulate the fast-paced and evolving landscape of cryptocurrency, showcasing legal battles, market movements, and the broader regulatory environment’s impact on digital currencies.
