Coming every Dominicus, Hodler'due south Assimilate will help you lot track every single important news story that happened this calendar week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Pinnacle Stories This Week

Bharat's Supreme Court overturns controversial ban on banks servicing crypto firms

There's a lot to chew concerning movements in the crypto markets, only the first story is of a unlike kind. A controversial ban that prohibited banks from dealing with crypto-related companies in India has been overturned past the country's Supreme Courtroom. The Reserve Depository financial institution of India's sudden move in April 2022 had proved calamitous for local businesses, with several exchanges closing because of the dubiety. 3 judges decided to strike downwardly the ban on Wed — with the RBI speedily announcing plans to challenge the decision, fearful that the ruling could put India's cyberbanking system at risk. It took less than 24 hours for 2 major exchanges to resume accepting deposits and withdrawals, simply India's crypto manufacture might not be out of the woods yet. A pending law that would ban cryptocurrencies is however to exist considered by parliament, and this could take businesses dorsum to foursquare one.

Bitcoin falls nether $nine,000 every bit coronavirus woes deepen

The stock market has continued its rollercoaster ride for a second week as coronavirus cases chop-chop proliferate outside of China. Bitcoin was initially spared from the massive losses disrupting other avails — maintaining support over $9,000 for three consecutive days — just plunged below this level on Saturday. Other cryptocurrencies have also been suffering. Some analysts maintain that BTC will be able to shrug off coronavirus concerns, and so its bull run can intensify in advance of block rewards existence halved in May. Still, the outbreak seems to be weighing heavily on the minds of crypto traders. The baroque search term "Bitcoin coronavirus" has now overtaken "Bitcoin halving" on Google Trends.

New governor of the Bank of England isn't a fan of Bitcoin

It's often difficult for the crypto earth to find friends among central banks. Although he is an abet for regulation, the current Bank of England governor, Mark Carney, appeared to be one of them — publicly giving his back up for Libra and stating that he was open up to central bank digital currencies. Given how he is stepping down March 17, there's understandable involvement in what his successor has to say… and, alert: It isn't practiced. Andrew Bailey told a parliamentary commission this week that anyone who buys Bitcoin should be prepared to lose all of their money because it has "no intrinsic value." He as well warned that the cryptocurrency "hasn't caught on as much as people predicted information technology would." Bailey's anti-crypto stance could indicate that the Bank of England'south mental attitude will change under his tenure.

Vitalik Buterin and Elon Musk dorsum Jack Dorsey every bit Twitter CEO

Jack Dorsey is under burn. A billionaire founder of a hedge fund has caused a iv% Twitter stake in an effort to push for major changes at the social network, which would include Dorsey's removal as CEO. At present, the pro-crypto executive is receiving back up from major figures in the crypto manufacture. Vitalik Buterin publicly expressed his bankroll for Dorsey on Twitter, writing: "Twitter certainly has flaws but @jack has done a vastly better job than what I expect/fear from a hedge fund appointed CEO swooping in to replace him." Musk also made his feelings known, praising Dorsey for having "a expert middle." Information technology is not known whether these voices of support volition hold sway. Activist investors believe Dorsey isn't paying plenty attention to Twitter because he is focusing on his crypto business organization, Square.

Only one% of $1 trillion transferred in crypto last yr was illicit, Chainalysis says

And the round-up ends with some surprising news from the blockchain analytics firm Chainalysis. The company has revealed that of $ane.ane trillion in crypto transactions completed in 2022, just 1.1% were associated with illicit activity. The data implies that the industry is much healthier now than in previous years when much of the volume was associated with darknet markets. Figures testify that exchanges remain popular targets for hackers, but their success rate has been dwindling ever since reaching an all-time high of $1 billion in thefts in 2022. Industry-wide cooperation and the involvement of law enforcement agencies are believed to have made the ecosystem more secure — even helping one hacked business firm to recover some stolen funds.

Winners and Losers

At the end of the week, Bitcoin is at $8,262.24, Ether at $209 and XRP at $0.21. The full marketplace cap is at $234,703,416,085.

Among the biggest 100 cryptocurrencies, the summit three altcoin gainers of the week are Hedera Hashgraph, Ren and ABBC Money. The height iii altcoin losers of the week are Synthetix Network Token, Aelf and Ethereum Classic.

For more than info on crypto prices, make sure to read Cointelegraph'due south market assay.

Most Memorable Quotations

"The Supreme Court may look at the RBI's review petition, but as of at present, the cryptocurrency platforms can operate in India."

Abhishek Rastogi, lawyer

"I think it'due south still very much upwardly in the air which blockchain volition help get crypto from ~50M users to 5B."

Brian Armstrong, Coinbase CEO

"Just want say that I support @Jack equally Twitter CEO. He has a good [eye]."

Vitalik Buterin, Ethereum co-founder

"This [coronavirus] is the global financial crunch that will catapult the cost to $100,000 and beyond."

Max Keiser, Television receiver host and Bitcoin proponent

"Key thing is that yous know from co-integration (100+ events) that BTC will probably go over $100K before Dec. 2022. How (slower/lower or faster/steeper) and exactly when is irrelevant."

PlanB, crypto analyst

"I'thousand looking at effectually the $100,000 to $250,000 range depending on how long this bull market runs."

Willy Woo, market place analyst

"If you want to purchase Bitcoin, be prepared to lose all your money… [Bitcoin] has no intrinsic value."

Andrew Bailey, adjacent Bank of England governor

Prediction of the Week

Coronavirus will ship Bitcoin toll to $100,000 in 2022, Max Keiser insists

As global stock markets take a beating considering of the coronavirus, Bitcoin advocate Max Keiser argued that the health scare could be a blessing for the crypto sector. On his Keiser Report TV plan, Keiser said BTC will hit six figures this year — and even went as far to say that JPMorgan CEO Jamie Dimon will exist "begging" the U.Due south. Federal Reserve to buy some. Keiser described 2022 equally "part two of the global financial crunch," suggesting that role 1 was the 2008 crash that happened just before the white newspaper for Bitcoin was released. It might be a scrap premature to take his prediction at face value — a calendar week ago, crypto losses were very much in line with declines on the stock markets and in the cost of gold. Meanwhile, the crypto analyst PlanB has said "100+ events" imply that Bitcoin will hit $100,000 in the adjacent two years, adding: "How (slower/lower or faster/steeper) and exactly when is irrelevant." Will their predictions exist correct?

FUD of the Week

YouTuber sentenced to 50 years for kidnapping and demanding a Bitcoin ransom

A YouTuber has been sentenced to fifty years backside bars for masterminding a woman'southward kidnapping in Mexico. High german Abraham Loera Acosta, 25, is one of six men bedevilled over her abduction. The grouping had demanded $100,000 in Bitcoin in exchange for the release of Tania Denisse, a 33-year-former lawyer. Acosta had rented a house to hold the victim captive while they established communications with government over the internet. Although he was "very experienced" in browsing anonymously, detectives were able to rails downward the BTC that was eventually sent to the kidnappers. Denisse was later rescued, and the ransom money was recovered, forth with a handgun and several mobile phones. Somewhat ironically, Acosta reportedly participated in the World Congress of Young Leaders for Peace in 2022.

Ledger wallet warns of fake Google Chrome extension stealing crypto

Ledger, a major cryptocurrency hardware wallet supplier, has warned users that a phishing attack is attempting to steal their crypto, using a Google Chrome Extension. The fake add-on seems to be asking unsuspecting victims to enter a 24-word recovery phrase to admission their wallet. The fake extension is chosen Ledger Alive and tries to mimic an accurate mobile and desktop application that allows users to approve transactions past synchronizing their hardware wallet with a trusted device. The dodgy extension at present appears to take been removed from the Chrome Web Store, but not before it was downloaded at least 120 times. To compound the problem, the malicious tool was also advertised on Google Ads.

German fiscal regulator takes action against showtime Bitcoin ATMs

Want to buy some Bitcoin at an ATM in Germany? Not and then fast. The country'southward financial watchdog has halted the operations of a visitor that ran 24 machines across the state. Regulators said KKT UG didn't have the necessary license to offer its services. Ultimately, it'southward bad news for those who are hoping to use cryptocurrency ATMs in Federal republic of germany, as they have long fallen into a massive gray expanse. Starting next year, crypto exchanges, custodians and wallet providers will need a license in order to operate — and they simply have until June to submit an application.

Best Cointelegraph Features

Blockchain as a tool to combat coronavirus

The number of confirmed coronavirus cases continues to rise. Every bit this characteristic explains, blockchain technology has a golden opportunity to make a considerable bear on in limiting the outbreak'due south ramifications.

Why betting on aureate-backed stablecoins is a losing game

Gold has long been regarded equally an eternal value — but storage costs a lot of money, and transporting the precious metal is fraught with difficulties. Aureate-backed stablecoins have been touted as an effective solution, but equally Gregory Klumov explains, many of them have been built on rotten foundations.

The history of the biting debate over Ethereum'due south ProgPoW

The Ethereum customs has recently been engaged in a biting debate sparked by a proposed mining algorithm change. Andrey Shevchenko has more.

Toxic Twitter tribalism: The fuel powering the crypto rocket?

Cointelegraph Mag's Stefan Stankovic examines meme warfare's effect on blockchain development.