11 April Crypto News- What Happened Crypto Markets Today

Crypto News-In an exclusive interview with Cointelegraph, venture capitalist Tim Draper offered his insights on the potential trajectory of Bitcoin’s price following the halving event.

11 April Crypto News- What Happened Crypto Markets Today

Additionally, legislators in Paraguay have proposed the idea of selling surplus electricity generated from a hydropower plant to cryptocurrency miners. Meanwhile, the United States Securities and Exchange Commission (SEC) has taken action by issuing a Wells notice to Uniswap.

Tim Draper Predicts 250,000 Dollars Bitcoin Price, Cites Halving and Bitcoin ETFs as Demand Drivers

Renowned venture capitalist Tim Draper anticipates Bitcoin’s value to triple in 2024, attributing this surge to increased inflows into spot exchange-traded funds (ETFs) and the impending Bitcoin halving.

During an interview with Cointelegraph at Paris Blockchain Week, Draper reaffirmed his optimistic outlook for Bitcoin, highlighting various factors that could contribute to its significant appreciation in 2024.

Reflecting on his past predictions, Draper remarked, If I had to predict, maybe we could see $250,000 by the end of the year; I mean, it’s looking pretty good.

Paraguay Revisits Proposal on Bitcoin Mining Ban

Paraguayan senators have suspended advancement on the recent proposal to ban cryptocurrency mining, opting instead to explore the possibility of leveraging excess energy from the Itaipu hydropower plant for mining activities rather than exporting it to Brazil and Argentina.

Senator Lilian Samaniego confirmed during an April 10 senate session that a debate will take place in a public hearing on April 23 to deliberate on the advantages and disadvantages of Bitcoin mining in the country.

Approximately a week following the introduction of a draft law on April 4th by lawmakers, proposing a temporary ban on Bitcoin mining for 180 days, citing reports of illegal cryptocurrency mining operations siphoning power and causing disruptions to the country’s electricity distribution.

SEC Issues Wells Notice to Uniswap

Uniswap, a decentralized exchange, has received a Wells notice from the U.S. Securities and Exchange Commission (SEC).

Marvin Ammori, chief legal officer of Uniswap Labs, confirmed the receipt of the regulatory notice on April 10. In a thread on X, Ammori described the notice as disappointing, but not unexpected from this SEC.

If the SEC had authority over our self-custodial, non-intermediated products, it could tell us how to register them. It can’t and so it doesn’t. It has provided no clarity and no guidance – as several SEC commissioners have stated in multiple dissents.

Marvin Ammori

As previously reported by Cointelegraph, the SEC has been investigating Uniswap Labs, the main developer of the decentralized exchange, since 2021. The exchange had previously delisted several tokens due to regulatory pressure.