Selling pressure has resumed once again in the crypto market as the broader cryptocurrency market cap sinks under $1 trillion. Earlier today, the world’s largest cryptocurrency Bitcoin touched a one-week low and is currently trading close to $21,100 levels.
The Federal Bureau of Investigation (FBI) has warned crypto investors about a scam using an investment strategy called liquidity mining. “This scam has been responsible for over $70 million in combined victim losses,” said the law enforcement agency.
Tesla CEO Elon Musk has been one of the main reasons Bitcoin saw a tremendous value increase in recent years. But Musk’s love affair with Bitcoin didn’t continue as he announced his support for Dogecoin. The changes have affected Bitcoin investments because of its use. These changes have resulted from the mentioned company’s no more acceptance of Bitcoin. Instead, it has announced support for DOGE and its use to purchase merchandise and other products.
Last week, the U.S. DOJ and the SEC nabbed three Coinbase executives on charges of internal trading. However, this led to a new battle between Coinbase and SEC wherein the regulator accused Coinbase of securities fraud by listing unregistered tokens.
The world’s biggest Ethereum [ETH] whales continue to place bullish bets on the meme-currency SHIB. But the question still comes down to the latter’s price.
The governor of the central bank of the Philippines has shared his policy on cryptocurrency regulation. “I don’t want it banned,” he said, advising investors not to invest money they cannot afford to lose in crypto.
The U.S. Department of Justice announced today that Michael Stollery, the CEO of Titanium Blockchain Infrastructure Services (TBIS), has pleaded guilty for his role in a scheme that brought in $21 million through a fraudulent initial coin offering (ICO).