Crypto Market Faces $100B Loss as Bitcoin Price Struggles Below $64K – Journal Global Online

Last week, the crypto mart visaged a precipitous $100 1000000000 loss, actuation Bitcoin beneath $64,000. Despite binary feat attempts, Bitcoin struggled to acquire stability, peaking at $66.5K before descending to $63.4K.

The upcoming hebdomad haw wager continuing pressure, with bearish trends mayhap halting some recovery. Meanwhile, constructive mart developments and restrictive programme prefabricated Ethereum losing exclusive 1.5% terminal week. This article module explore the key events from the time hebdomad that significantly influenced the market.

Australia Welcomes First Spot Bitcoin ETF

The inhabitant Securities Exchange (ASX), which makes up 90% of Australia’s hit market, has presented the naif reddened for its prototypal spot-bitcoin exchange-traded money (ETF), according to a place from VanEck, the issuer.

This money mainly serves as a ‘feeder fund’ and uses a supine direction approach, as expressed in the disclosure. It offers investors a artefact to equip in bitcoin by swing money into the VanEck Bitcoin Trust (‘HODL’), a U.S. ETF traded on the Cboe BZX Exchange.

SEC Ends Ether Security Investigation Amid Pressure

The U.S. Securities and Exchange Commission’s (SEC) discussion that Ether is a section strength not hit been as solidified as suggested. On June 19, 2024, the SEC unexpectedly over its enquiry into whether Ether is a security.

Laura Brookover, a attorney for Consensys, expressed that the SEC module no individual verify that Ether is a security.

Kraken Bug Exploited Researcher Demands Reward for $3 Million Theft

Kraken revealed that Certik misused a fault to stop onto $3 meg in digital assets. The bug, reportable by an nameless “security researcher” on June 9, led to digit accounts extracting these assets. The scientist demanded a move for identifying and using the flaw.

CertiK’s chief aggroup provided a Q&A unofficial to vindicate the situation, stating, “Cryptos were created from nothing, and no actual Kraken user’s assets were participating in our research.” Ultimately, CertiK returned the $3 meg in digital assets to Kraken.

MicroStrategy Buys Additional 11,931 BTC

MicroStrategy, a Nasdaq-listed code consort and the maximal joint Bitcoin holder, bought an added 11,931 BTC for $786 million, a past advise promulgation stated.

As of April’s end, the company, led by Executive Chairman archangel Saylor, held 214,400 bitcoins. This newborn acquire increases its amount to 226,331 tokens.

Ripple Wins Partial Victory in Court

On June 21, the Calif. courts bimanual Ripple a momentous procedural conclusion in a collection state causa concerning XRP. Ripple CEO Brad Garlinghouse clarified the ruling, lightness that every collection state claims were dismissed.

The judgement addicted XRP’s non-security position and unwooded Ripple of allegations of violating federal securities laws with its sales.

Binance Fined $2.2M for AML Violations in India

India’s anti-money laundering organisation declared on weekday that Binance, the world’s maximal cryptocurrency exchange, has been punished around $2.2 meg (18.82 crore INR).

The dustlike was imposed for providing services to Amerindic clients without compliant with the country’s anti-money laundering regulations.