Cryptocurrency Summary

Bitcoin's price has recently fluctuated, dropping below $90,000, with concerns over artificial intelligence affecting both Nasdaq and crypto stocks. In a notable development, Bitcoin miners are increasingly turning to renewable energy sources to counteract profit margin pressures.

Meanwhile, significant regulatory movements are occurring, as Pakistan has cleared Binance and HTX to pursue local crypto licenses, potentially paving the way for wider adoption in the region. Additionally, Coinbase is expected to announce the launch of prediction markets and tokenized stocks, further expanding its offerings.

In a related legal matter, Do Kwon, co-founder of Terraform Labs, received a 15-year prison sentence for his role in a $40 billion fraud scheme involving a stablecoin. This event highlights ongoing issues surrounding crypto regulations and compliance.

Furthermore, a senior analyst from Vanguard recently stated that Bitcoin's value is comparable to that of a plush toy, reflecting ongoing skepticism in some financial circles about the cryptocurrency's long-term viability.