The United States Internal Revenue Service (IRS) on Thursday published its annual Criminal Investigation (CI) report. During the fiscal year of 2021, the agency reported that it seized $3.5 billion worth of crypto. According to the latest criminal investigation report, this figure accounted for 93% of all the assets that the tax enforcement seized that year.
After a sharp sell-off yesterday, the crypto market has revived as coins trade in green at the time of writing. Although BTC hasn’t moved up $60K, it has bounced back from $55,821 to $58656 today. Also, most altcoins are trading in the green today as they reclaim gains.
As the broader cryptocurrency market poses some healthy recovery, the world’s second-largest cryptocurrency Ethereum (ETH) has bounced more than 6% moving past $4,300 levels. On Friday, November 19, the ETH price took a momentary dive under $4,000 correcting more than 15% from its all-time high levels from last week.
The U.K.’s advertising authority has launched an investigation into advertisements for the cryptocurrency floki inu (FLOKI). The ads, titled “Missed Doge? Get Floki,” have appeared on London buses and the underground. The team behind the floki inu ad campaign says the advertisements are “legally cleared,” and the advertising authority’s action is “an attack against cryptocurrency and against the people’s freedom of choice — a clear attempt at censorship.”
Arbitrum One core network has now been fully integrated by Binance, the cryptocurrency firm announced earlier today. This has paved the way for Ether withdrawals on Arbitrum One Layer 2, which is a scaling solution for the Ethereum network.
Israeli police have arrested eight suspects in connection with a cryptocurrency fraud scheme after raiding their homes and seizing evidence. One of the suspects is Moshe Hogeg, a well-known owner of the premier soccer team Beitar Jerusalem Football Club.
Its been a rollercoaster week in the cryptocurrency market after volatility returned to shake up Bitcoin (BTC) price, pushing the digital asset to lows not seen since mid-October.
Risk management firm Elliptic says DeFi users have lost $12 billion to hacks and scams over the past two years.
Square has published a whitepaper describing its plans for a new decentralized exchange called tbDEX.