Hello!

Welcome to this week’s Coinigy newsletter. So, after months of endless downturns, we finally have something to be happy about. Bitcoin, the mother crypto, finally broke past the $21k mark, maintaining a 20% gain in the last seven days.

As you’d expect, it pulled the rest of the market with it—even Solana did a 70% jump. If you’ve been tracking the token with Coinigy, you might have profited from the surge.

Here are the highlights for this week.

  • Bitcoin roars past $21K in surprise surge. Can the rally last?
  • El Salvador Passes Key Bitcoin Legislation, Making Way for ‘Volcano Bonds’
  • Gemini and Genesis charged by SEC with selling unregistered securities

Bitcoin roars past $21K in surprise surge. Can the rally last?

Crypto investors have been starved for good news for months and late on Friday they finally got some: Bitcoin unexpectedly soared past the $21,000 mark for the first time since the calamitous implosion of the FTX exchange last November. Read more.

El Salvador Passes Key Bitcoin Legislation, Making Way for ‘Volcano Bonds’

El Salvador approved a digital assets law to create legal protection for transferring or issuing debt with cryptocurrencies. The bill also provides the legal framework for Bitcoin-backed bonds, also known as the “Volcano Bonds,” that the Latin American nation wants to use to pay sovereign debt and fund the construction of the proposed Bitcoin City. Read the full story.

Gemini and Genesis charged by SEC with selling unregistered securities

The United States Securities and Exchange Commission (SEC) on Jan. 12 charged cryptocurrency lending firm Genesis Global Capital and crypto exchange Gemini with offering unregistered securities through Gemini’s “Earn” program. Read the full story.

Other highlights worth mentioning

  • Binance Will Allow Institutional Investors to Keep Collateral Off the Exchange – Coindesk
  • Crypto Mining Stocks Surge to Yearly Highs – Cointelegraph

Source: https://insights.coinigy.com/bitcoin-surges-past-21k-is-this-the-end-of-the-bear-market/