Binance faces criticism, US government sells seized bitcoin from Silk Road, and EU restricts anonymous cryptocurrency wallets. These stories and more, this week in crypto.
Binance Indicted for Violating US Financial Laws
US regulators, CTFC files lawsuit against Binance It built a business in the United States without properly registering with authorities, alleging that the company was operating illegally in the country. Binance CEO Changpeng Zhao said: came back with It is a strong and comprehensive response to the lawsuit, describing it as “unexpected” and “disappointing.”
US Government Allows Sale of Seized Bitcoins
a Court submission It shows that the US government sold 9,861 bitcoins on March 14th for around $216 million. The assets sold were part of Bitcoin seized in November in an incident related to the hacking of darknet marketplace Silk Road. The government plans to liquidate his remaining 41,000 bitcoins in four separate offerings this year.
EU Restricts Anonymous Crypto Wallets
EU lawmakers voted in favor of imposing payment limits By unverified crypto wallet users as part of a major overhaul of money laundering laws. The new restrictions prohibit traders from making or receiving anonymous cryptocurrency transfers of more than her €1,000. This measure does not completely prevent crypto payments, as the cap does not apply to regulated wallet providers.
MicroStrategy Buys Bitcoin Again
The world’s largest holder of bitcoin, MicroStrategy has resumed Accumulation of bitcoin after 3 months stoppage. The company bought 6,455 BTC worth about $150 million, bringing the company’s total holdings just short of the 139,000 BTC it acquired for about $4 billion. Additionally, the business intelligence giant has repaid its Bitcoin-backed loan to Silvergate at a steep discount.
Ledger Raises €100 Million in Funding
ledger, Market leader in hardware wallets Raised $109 million in its latest funding round, raising its valuation to $1.4 billion to safely store digital assets offline. Ledger is believed to have benefited from the industry’s recent crisis as Hodler became nervous about depositing his assets on online platforms.
American banks wary of cryptocurrencies
During the recent financial sector downturn, Banks became more cautious I deal with ciphers. First Citizens Bank agreed to buy most of the remnants of Silicon Valley Bank just to keep crypto and crypto-backed loans out of the deal. Similarly, New York Community Bank, which acquired Signature Bank, also declined to buy Signature’s virtual currency banking division.
Prediction: Massive Crypto Adoption Driven by CBDC
in the latest reportinvestment bank Citi suggests the next influx of cryptocurrency adoption will be driven by the rise of central bank digital currencies and the tokenization of real-world assets. The report, which was published, states that society is nearing an inflection point, after which blockchain technology will be massively adopted by billions of new users.
Nearly 1,000 new tokens enter the market
Momentum is returning to the market despite recent regulatory pressure on the crypto industry. Launch of about 1000 new tokens since the beginning of this year. There are now over 23,000 cryptocurrencies on the market, and in just three months the total market capitalization has surged from just under 800 billion to nearly $1.2 trillion.
That’s what happened with Crypto this week. See you next week.