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April 2024 is an important month in the growth and development of the world of cryptocurrencies. A series of significant events lined up on the horizon, starting from the highly anticipated Bitcoin halving to important /legal proceedings involving big crypto firs and their once CEOs, as well as groundbreaking project developments.
Let’s take a deeper look into the upcoming events for which the crypto landscape is abuzz with anticipation and speculation –
Bitcoin Halving
First and foremost, the fourth Bitcoin halving is expected to take place in April. Renowned analyst Michaël van de Poppe believes that this event could trigger a surge in altcoin prices, stating, “BTC could lose its dominance after Halving.” Moreover, many analysts have also previously suggested that an altcoin and memecoin era will soon take over. This prediction seems to be coming true, because Bitcoin has showing exceptionally high volatility, even crossing Ether, before halving event.
US March CPI Release
On April 10, the release of the Consumer Price Index (CPI) figures for March will provide crucial insights into inflation trends. Analysts will closely analyze this data, with implications for Federal Open Market Committee (FOMC) decisions regarding interest rates and monetary policy. However, as per Forbes, interest rates will not be altered in April..
Changpeng Zhao’s Sentencing Hearing
Former Binance CEO Changpeng ‘CZ’ Zhao’s sentencing hearing, has previously been postponed to April 30, in a February trial. Changpeng Zhao’s lawyers had previously put in endless efforts to allow him to go back to UAE citing a medical emergency to meet his daughter and family. However, the Fed Court has denied this time and again since the U.S. does not have an extradition treaty with the UAE.
Do Kwon and Terraform Labs vs SEC
When we speak about extradition treaty, there’s always one name that pops up – Do Kwon – the founder of Terraform Labs, and is currently under house arrest in Montenegro. Do Kwon was previously arrested in Montenegrin airport for travelling with a fake passport. However, things took a serious turn when he was alleged to be the mastermind behind the great 2021 collapse of Terra Luna coins.
The US Fed Court has already started its proceedings against Terrsform Labs Inc, and seeking the extradition of Do Kwon. However, his home country, South Korea is also seeking his extradition. Although the Montenegrin High Court had previously granted the extradition treaty to the U.S., it has to be held void by the Supreme Court of the nation because of the ultra-vires of its authority. It is expected his extradition treaty will be granted in April itself.
SEC to Continue Lawsuit Against Coinbase
Coinbase’s legal battle with the U.S. Securities and Exchange Commission is set to continue, following the rejection of Coinbase’s motion to dismiss the suit and the Court ruling that the lawsuit should move forward.
Other important events –
Other notable events include the Bitcoin Cash (BCH) halving and the launch of EigenLayer’s mainnet. These developments signal important milestones in their respective ecosystems, with potential implications for investors and users.
As April unfolds, the crypto community is eagerly anticipating the outcome of these key events, which have the potential to shape the trajectory of Bitcoin and the rest of the crypto market in upcoming months.