LONDON (Reuters) - Bitcoin has fallen over one fifth since its peak earlier this month, hit after the United States approved its first spot bitcoin exchange traded fund (ETF), as investors who had bought in expectation of the approval sold after the confirmation. The world's largest crypto currency was last at $38,900, down 20.6% from around...
In an op-ed on Bloomberg Law, Steven Merriman and Jim Vivenzio of Perkins Coie raised concerns over FinCEN’s latest move to crack down on crypto mixers. The Financial Crimes Enforcement Network (FinCEN) is pushing for financial institutions to impose new compliance measures in its latest reporting plan, focusing on crypto transactions involving” convertible virtual currency (CVC) mixing.” According to...
Justin Sun, the founder of the Tron blockchain, contested the UN report’s assertions on USDT, pointing out factual inconsistencies and affirming Tron’s dedication to maintaining blockchain integrity. The UN report highlighted concerns over the misuse of blockchain technology, focusing on the role of USDT in money laundering and scams, particularly in Southeast Asia. In a Jan. 19 X post, Sun acknowledged these...
Manta Network has successfully resumed normal operations after overcoming technical issues, as reports of money laundering involvement emerge. On Jan. 18, the Manta network experienced a DDoS attack that temporarily disrupted its operations. The attack, which began at 9:30 AM UTC, coincided with the network’s Token Generation Event (TGE). It’s noteworthy that the incident follows closely after the...
A crypto trader shared why he believes Grayscale Bitcoin Trust is seeing a mass sellout. Grayscale Bitcoin Trust (GBTC) has been observed selling off its Bitcoin (BTC) holdings, with recent reports indicating that the firm recently moved $1.3 billion of Bitcoin to Coinbase. Pseudonymous crypto trader Ash Crypto explained that he believes that market forces are the...
TV personality and founder of hedge fund Cramer & Co. Jim Cramer called the decline in Bitcoin a “nasty beginning to the sell-off”. In his post in X on Jan. 19, Cramer doubted the prospects for further growth of the first cryptocurrency. As an argument, he noted that an asset cannot double in price by hundreds...
Popular exchange Crypto.com today announced the delisting of Terra LUNA. As a direct consequence, LUNA and LUNA Classic experienced a near 10% drop in value, reflecting investor uncertainty. Additionally, both tokens witnessed a 12% decrease in their 24-hour trading volume, signaling a retreat in market activity surrounding these assets. In response to these developments, Crypto.com has taken decisive action to mitigate risks and...
Grayscale’s Michael Sonnenshein backed the longevity of his firm’s spot Bitcoin ETF as it saw over $2.2 billion in outflows less a week after approval. Holding north of $25 billion in assets under management, Grayscale’s Bitcoin Trust (GBTC) ETF is the biggest spot Bitcoin exchange-traded fund of 11 funds authorized by the United States Securities and...
IntoTheBlock provides insights into the unexpected downturn in Bitcoin’s market, particularly following the approval of the Bitcoin ETF. Data shared in a Jan. 19 X post by blockchain analytics firm IntoTheBlock shows that Bitcoin (BTC) prices have decreased by approximately 10% in the past week, a trend that contradicts many market predictions. The firm’s analysis reveals several key...
Crypto investment firm Pantera Capital says tokens with promising underlying protocols and product market fit are set to outperform in the upcoming cycle. According to a new report from Pantera Capital, tokens with promising underlying protocols and a demonstrated product-market fit are expected to outperform in the upcoming cycle “just as one would expect across other asset...
