Welcome to today’s overview of crypto news:
The weekend was relatively stable and calm in terms of price movements. With low trading volumes, BTC remained at and above $ 48,000. It even attacked the $ 49,000 mark on Saturday, but to no avail.
Since then, however, the situation has changed in a very negative direction. BTC began to fall late Sunday night and first fell to around $ 47,000, where it remained for a while. However, the bears were not finished and pushed the cryptocurrency south. As a result, BTC fell below $ 46,000 and $ 45,000. This peaked at an intraday low about $ 43,000.
The Altcoins failed even more. ETH is leading this unfavorable trend with a 10% drop to just over $ 3,100. Until a few days ago, the ETH traded well above $ 3,600.
El Salvador responds to the fall in the price of BTC and buys another 150 BTC
Despite warnings from world agencies about the adoption of BTC, the Salvadoran government continues to seek market opportunities.
When the price of BTC fell below $ 46,000 on Monday morning, Salvadoran President Nayib Bukele announced on Twitter that the country had “bought the dip”. With 150 new coins, the Central American government now holds 700 BTC, valued at nearly $ 32 million at the time of writing.
In an apparent adherence to the disclaimers “not the financial council” that appear in the crypto ecosystem, Bukele shared his “presidential council” by reminding him that “they can never beat you if you buy downturns.”
Banks, crypto exchanges, companies
Binance is facing an US investigation into possible insider dealing and market manipulation
Binance is now allegedly being investigated by the United States Commodity Futures Trading Commission (CFTC) for possible misuse of confidential information and market manipulation. According to a Bloomberg report, CFTC investigators are investigating whether Binance has abused its customers by exploiting their business activities.
In response to a request for comment, a Binance spokesman said Binance had a “zero-tolerance policy on insider dealing and a strict code of ethics regarding any type of conduct that could have a negative impact on customers or the industry.” The alleged CFTC investigation follows an earlier investigation by the US authorities into alleged money laundering and tax violations by Binance.
Binance also faces legal tensions from its customers. A group of Binance customers, who suffered trading losses after the stock market experienced a technical failure in May, joined forces and turned to arbitration against Binance in an effort to recover their losses.
Coinbase won a $ 1.3 million deal with the US government
Coinbase has reached a new agreement with the U.S. Immigration and Customs Administration (ICE) to use its Coinbase Analytics tool for unspecified purposes. According to available information, the government agency will pay up to $ 1.36 million in a license fee to the crypto exchange.
Crypto company was the “only supplier” that could provide the services needed by ICE. However, the details of what information Coinbase would share or analyze remain unclear.
ICE is a subsidiary of American Homeland Security. Is in charge of investigating cross-border crime and also controlling the influx of illegal migration into the United States.
Ripple and XRP have supported by Republican senators who are pushing against the SEC scheme
The lawsuit between the SEC and Ripple continues to drag on, although developments from the courtroom continue to struggle, arguing that the SEC has no case against the company. Observers noted that closing the accounts in this case would allow this cryptocurrency to refocus its efforts on becoming a more widely used asset.
The Securities and Exchange Commission’s war against the cryptocurrency industry has often attracted much criticism of the regulator, as it is believed that its fads are stifling innovation in the industry. Most recently, these criticisms were voiced by the US Senate.
During SEC Chairman Gary Gensler’s speech at the Senate Banking Committee, the regulator came under fire from Republican senators who condemned the commission’s plans for the cryptocurrency and other sectors within their remit.
“We are at war” with cryptocurrencies, says Turkish President Erdogan
Turkey aspires to become a blockchain center as a country with one foot in Europe and the other in Asia. However, the same enthusiasm does not apply to cryptocurrencies, as Turkish President Recep Tayyib Erdoğan recently reiterated.
Erdoğan organized a question and answer event in Mersin, Turkey, attended by young people from all over the country. One of the participants mentioned the platform for cooperation in the field of digital Turkish lira, which was announced last week, and asked whether the central bank would accept cryptocurrencies. He also asked Erdogan about his views on cryptocurrencies.
“We certainly do not intend to accept cryptocurrencies. On the contrary, we are waging a separate war against them, a separate fight. We would never provide support. Because we will proceed with our own currency, which has its own identity. “
– the president replied.