Category: crypto

Gemini co-founder Cameron Winklevoss has called out the SEC for its investigation into the crypto exchange, urging compensation for legal expenses and the dismissal of officials involved. The SEC recently dropped the investigation without charges, but Winklevoss criticized the agency’s actions and suggested measures to prevent regulatory overreach in the future.

Bitcoin’s price dropped to $83,223.04 after a 6.5% correction, trading in a low-liquidity zone due to lack of demand. Market weakness and the Bybit hack have led to selling pressure and investor stress. Short-term holders are holding positions at a loss, indicating potential for further declines unless strong demand emerges.

Circle co-founder Jeremy Allaire is calling for US dollar-pegged stablecoin issuers to be registered in the United States to ensure regulatory clarity amid new legislation on digital assets. This aligns with efforts to bring stablecoin issuers under a clear legal framework, enhancing trust and stability in the market. Regulatory uncertainty surrounding stablecoins persists, with ongoing…

The US Securities and Exchange Commission and crypto entrepreneur Justin Sun have requested a pause in their legal battle to explore a potential settlement. The SEC accused Sun of engaging in unregistered securities offerings and market manipulation. The court has yet to rule on the request, which could signal room for negotiation.

Fidelity and BlackRock saw a record $937.9 million outflow from AlphaBitcoin ETFs, signaling investor unease. This marks a significant shift in the market for Bitcoin ETFs.

Binance denied claims of offloading its Ethereum and Solana holdings, stating it only facilitates transactions and has no control over users’ trading decisions. The exchange advised against drawing conclusions from transaction screenshots and emphasized the importance of understanding trading strategies to avoid misinterpretation as market manipulation.

Oklahoma’s proposed state Bitcoin reserve advanced after the House Government Oversight Committee approved HB 1203. The bill, introduced by Rep. Cody Maynard, would allow the state treasurer to invest public funds in Bitcoin and stablecoins. While some states have rejected similar proposals due to concerns about volatility and taxpayer risk, 25 bills related to Bitcoin…

Bybit confirmed a $1.4 billion hack did not compromise its system, attributing it to a vulnerability in a Safe developer machine. The attack involved injecting harmful code into transaction processes. Safe responded by rebuilding infrastructure and enhancing security measures. Experts stressed the need for better security protocols and accountability in the industry.

Gotbit founder Aleksei Andriunin has been extradited to the US to face charges of market manipulation and wire fraud conspiracy. Andriunin, along with Gotbit directors Fedor Kedrov and Qawi Jalili, allegedly used tactics like wash trading to inflate trading volumes and generate revenue. If convicted, Andriunin could face up to 20 years in prison.

A recent report by River revealed that hedge funds and registered investment advisors’ exposure to Bitcoin through ETFs reached $34.3 billion as of Dec. 31, with a 357% growth in 2021. Institutional accumulation is driving the current bull run, with Bitcoin adoption at only 3% of its full potential, indicating space for growth.