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There was a big drop in the cryptocurrency markets on Friday evening, and a similar situation was repeated on Saturday. Bitcoin declined.

While Bitcoin was on a stable course at $70,000-71,000 until Friday evening, following the statements of the US Federal Reserve (Fed) that did not foresee a significant change in interest rates and the tension between Iran and Israel, Bitcoin fell to $65,000 in a few minutes, with a liquidation of approximately $900 million and $300,000. affected the investor.

Bitcoin recovered slightly to $67,000, but then fell to a weekly low of $59,500 within a few hours. Altcoins suffered even greater losses; Many altcoins such as SOL, XRP, BNB, DOGE, SHIB, AVAX showed double-digit declines.

The total cryptocurrency market cap has decreased by approximately $200 billion in one day and by $400 billion since Friday morning. Another 220,000 investors were liquidated, bringing the total value of losses to $1.8 billion over the same time period.

Bitcoin bull run

Hong Kong approves first spot BTC and Ethereum ETFs on its way to becoming a crypto hub

Hong Kong approved several spot BTC and Ethereum exchange-traded fund (ETF) applications on Monday in a bid to turn the region into a crypto hub.

China Asset Management, Harvest Global Investments, Bosera Asset Management and HashKey Capital have received various approvals from the Hong Kong Securities and Futures Commission. These organizations announced that they will issue ETFs in cooperation with OSL and BOCI International.

Bosera and HashKey will offer ETFs where investors can subscribe to ETF shares directly using Bitcoin and Ethereum. These developments aim to strengthen Hong Kong’s status as an international financial centre.

Accidentally lost bit's worth of Bitcoin!

BTC miners could sell $5 billion worth of BTC after halving

Bitcoin It is stated that miners will be able to release BTC worth $ 5 billion after the halving. This process is triggered by mining rewards halving and usually causes BTC prices to remain stable for a period of time.

Markus Thielen from 10x Research states that these sales by miners may last four to six months and BTC may not show a big rise until October. Miners’ stockpiling of BTC until the halving disrupts the supply-demand balance and increases prices.

However, Thielen states that altcoins may be negatively affected by this situation and that a significant rally should be waited for six months. It is estimated that large mining companies such as Marathon will gradually sell their savings to prevent a decrease in revenue.

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Binance founder Changpeng Zhao sentenced to four months in prison

The DOJ has accused Binance founder Changpeng Zhao of allowing criminal activity to flourish on the crypto exchange. Here are all the details.

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The DOJ has accused Binance founder Changpeng Zhao of allowing criminal activity to flourish on the crypto exchange. Here are all the details.

“Binance ignored its legal obligations in pursuit of profit. Deliberate moves allowed money to flow through the platform to terrorists, cybercriminals, and child abusers,” Treasury Secretary Janet Yellen said in November. The government accused Binance of refusing to comply with American sanctions and failing to report suspicious transactions related to drugs and child sexual abuse material. Prosecutors said in court that Zhao boasted to Binance employees that he was “not willing” if the company complied with the law.

Binance founder Changpeng Zhao sentenced to four months in prison

Under the terms of the plea agreement, Binance agreed to pay a $2.5 billion penalty and a $1.8 billion fine. Zhao personally paid $50 million as part of the deal.

Although the charges are different, Zhao’s sentence is much shorter than the sentence that 25-year crypto leader Sam Bankman-Fried received in March. SBF, as it is often known, was convicted on seven counts of fraud and conspiracy for its role in the management of crypto platform FTX.

Zhao played a key role in the downfall of Bankman-Fried and the overall decline of the crypto industry over the past 18 months. Those on the company’s side, not just FTX but in general crypto- He also destroyed his world. (They probably also helped attract the government’s attention.) When FTX’s wells dried up following the platform’s rapid collapse, Zhao briefly agreed to buy the company but quickly backed out.

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Crypto

Binance Invests in a New Cryptocurrency

Binance rolled up its sleeves to invest in a new cryptocurrency. The cryptocurrency world was shaken by the latest move by Binance’s investment arm, Binance Labs. The target of the leading crypto exchange Binance this time was a crypto project called Movement Labs.

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Binance rolled up its sleeves to invest in a new cryptocurrency. The cryptocurrency world was shaken by the latest move by Binance’s investment arm, Binance Labs. The target of the leading crypto exchange Binance this time was a crypto project called Movement Labs.

Binance Labs has been attracting attention with its recent investments and leading the crypto industry supports projects. The investment in Movement Labs once again proves Binance Labs’ influence in the industry.

Binance Labs, in the cryptocurrency industry It is known as one of the leading investment branches. Binance Labs, Binance’s venture capital unit, supports developments in the sector by investing in innovative and high-potential projects. Recently, Binance Labs’ increased investments in crypto projects show that the company has consolidated its leading position in the industry.

Binance Invests in a New Cryptocurrency: Movement Labs and the Importance of Investment

Binance Labs’ latest investment, Movement Labs, represents a significant development in the blockchain space. Movement Labs integrates movement security and parallel execution via rollup. as the first blockchain network draws attention. This project can make significant contributions to the industry by increasing the security and speed potential of blockchain technology.

Binance is a new cryptocurrency

Binance Labs to Movement Labs the importance of his investment He emphasized that he expressed his confidence in the project. Binance Labs President Yi He stated that Movement Labs’ technology has the potential to meet the needs in the industry. Cooperation between the two parties can contribute to the support and growth of innovative projects in the crypto industry.

Binance Invests in a New Cryptocurrency: Movement Labs’ Vision and Mission

Movement Labs is working towards better smart contract security and higher throughput in the crypto world. Rushi Manche, co-founder of the project, Movement’s Facebook He stated that it was designed to power chain-intensive applications such as

Binance A partnership with Labs can help Movement Labs achieve its mission and increase its impact in the industry.

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Lowest Ethereum Fees in Six Months

While gas fees on the Ethereum network dropped to a six-month low, the Ethereum price rose slightly over the weekend. According to crypto analysis platform Santiment, this could indicate an upcoming altcoin rally.

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While gas fees on the Ethereum network dropped to a six-month low, the Ethereum price rose slightly over the weekend. According to crypto analysis platform Santiment, this could indicate an upcoming altcoin rally.

On April 27, the average transaction fee for Ethereum dropped to $1.12. Fees typically peak at market tops and fall to “resting state” lows at market bottoms, Santiment said.

He also suggested that lower gas fees could signal an increase in Ethereum network activity and the beginning of the altcoin rally. Ethereum price increased by 4.3% in the last week. While 74,458 new ETH was mined in the last 30 days, 57,516 ETH was burned, resulting in a net supply of 16,979 new Ethereum.

This follows five months of steady deflation following the network’s switch to a proof-of-stakeholder consensus mechanism called ‘Merge’.

The question Ethereum or Bitcoin has been answered

ASX, Australia’s largest stock exchange, is expected to list approved spot Bitcoin ETFs by the end of 2024

According to Bloomberg, citing sources familiar with the matter, several issuers such as VanEck and local firms BetaShares and DigitalX filed ETF applications earlier this year.

The ASX handles approximately 80% of transactions in Australia and had a market capitalization of $2.7 trillion as of March.

ASX spokesperson said the company is crypto-asset-based ETFHe stated that he had been in talks with several publishers interested in accepting the ‘s. Australian investors have been trading spot Bitcoin ETFs listed on CBOE Australia since 2022. There are currently only two spot crypto funds in Australia.

South Korea to formalize crypto investigation unit amid rise in crimes

South Korea is taking steps to turn its temporary crypto investigation unit into a permanent unit due to the increase in crimes and fraud cases.

The country’s Ministry of Justice and the Ministry of Internal Affairs and Security announced in early May that they would begin talks on upgrading the Joint Virtual Asset Criminal Investigation Unit into an official department.

This upgrade will aim to consolidate the unit’s status as it currently operates as a temporary structure and is at risk of being disbanded, Segye Ilbo reported. The change aims to increase efficiency through the appointment of new prosecutors and budget allocation.

This unit consists of approximately 30 experts from seven financial and tax regulatory authorities and was established in July 2023 as South Korea’s first investigative unit focusing on digital asset crimes.

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