BTC drops and the whole market Bleeds
Pepe Coin has experienced a 24% fall in price in the last 24 hours, dropping to $0.000001231.
Binance.US is contemplating reducing the stake of its founder, Changpeng Zhao, due to regulatory pressures2.
The Internal Revenue Service (IRS) is providing training sessions on blockchain transaction tracking for Ukrainian officials, as part of their efforts to monitor Russian cryptocurrency activity3.
Miami's enthusiasm for cryptocurrencies and blockchain technology appears to be waning, according to some industry observers, particularly ahead of the annual Bitcoin Conference4.
Dogecoin (DOGE) has seen a 1.5% drop in price, with its value falling to $0.070790, thus offsetting a brief return to a $10 billion market cap earlier the same day5.
Bitcoin (BTC) and Ethereum (ETH) prices have been on an upward trend in 2023, with some investors seeking shelter in Bitcoin and other top cryptos due to the evolving outlook for Federal Reserve policy tightening, inflation cooling off, the potential of a recession, and an ongoing banking crisis in the U.S.67.
There has been a sharp sell-off in shares of First Republic Bank (FRC), which reported a significant drop in customer deposits in Q1. This has resulted in a boost in trading for BTC and ETH as government officials and financial sector leaders work on a rescue plan for First Republic8.
Bitcoin traded between $26,000 and $28,600 from mid-March to mid-April, breaking out to the upside on April 10 and ultimately trading as high as $31,0059.
Ethereum completed its Shanghai upgrade on April 12, leading to a price jump of over 10% and bringing it above $2,000 for the first time in eight months. It ended April at around $1,89010.
The U.S. Securities and Exchange Commission (SEC) and other regulators continued their crackdowns on the cryptocurrency industry in April. The SEC is seeking to amend the definition of “exchange” to include platforms that trade crypto assets, such as decentralized finance (DeFi) platforms11.
Crypto exchange Coinbase (COIN) has plans to expand into international markets, such as Brazil and Singapore, and may consider relocating overseas if regulators do not provide the company with clarity about how to comply with securities laws12.
SEC Chair Gary Gensler affirmed the commission's commitment to enforcing the law, stating that all crypto companies should comply with the law and that the SEC will continue to pursue those that do not.