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The United States government may be selling more of its massive Bitcoin (BTC) stash, potentially piling more sell pressure onto the crypto market, according to blockchain data. On-chain sleuth ZachXBT noted on Tuesday that government controlled Bitcoin tied to Silk Road initiated a small transaction to Coinbase – the crypto exchange previously used by the government to sell its coins. Shortly afterwards, the government’s wallet transferred 1999 BTC to Coinbase Prime, worth $139 million at the time. The government’s main…

Kucoin faces the law as criminal charges against the cryptocurrency exchange surface. NuggetRush merges impact gaming, GameFi, and cryptocurrency within a single ecosystem. NUGX has been recognized for its high growth potential, as analysts predict a 50x rally. The US Department of Justice (DOJ) is pursuing the cryptocurrency exchange Kucoin (KCS) with an indictment that accuses the platform and two of its founders of violating anti-money laundering laws. The criminal charges are under the Bank Secrecy Act, specifically for operating…

The US government transferred 30,175 Bitcoin (BTC) to a wallet recognized as part of the crypto exchange Coinbase. This move represents a substantial $2 billion, calculated at the prevailing Bitcoin price of approximately $65,000 per BTC. US Government Moves $2 Billion in Bitcoin This action follows the US government’s previous engagement with the cryptocurrency market. In March 2023, the government auctioned 9,861 BTC, netting $216 million. The government seized these coins as part of a larger cache from the infamous…

On April 1, the macroeconomics outlet Kobeissi Letter released the key events for this week’s busy economic calendar in the United States. As crypto markets brace for another data-heavy week, volatility could return, with Bitcoin approaching resistance levels at its all-time high. Crucial job market reports are scheduled to be released on Friday, and Fed Chair Jerome Powell will speak on Wednesday. Key Events This Week: 1. ISM Manufacturing PMI data – Monday 2. JOLTs Job Openings data – Tuesday…

United States Treasuries worth over $1 billion have been tokenized on-chain across Ethereum, Polygon, Solana, and other blockchains. The milestone was propelled by the recent launch of the BlackRock USD Institutional Digital Liquidity Fund. US Treasurys Worth $1.08B Tokenized BlackRock’s Ethereum-based product, BUIDL, was introduced on March 20 and has surpassed a market capitalization of $244.8 million. As per data from 21Shares’ Dune Analytics dashboard, BUIDL is now behind only Franklin Templeton’s 11-month-old Franklin OnChain US Government Money Fund (FOBXX),…

The US government sanctions aim to disrupt entities facilitating transactions or providing services that assist OFAC-sanctioned entities in circumventing sanctions. Among the entities sanctioned is B-Crypto, a Moscow-based fintech firm accused of collaborating with Rosbank to enable Russian exporters to conduct cross-border payments using cryptocurrency assets. In the latest development, the U.S. Government has taken action against several entities and individuals believed to have provided cryptocurrency products and services that facilitated the evasion of sanctions on Russia. The Office of…

On March 26, Hashdex announced the renaming of the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF, which will trade under the ticker ‘DEFI.’ The move to convert the futures fund to a spot ETF has been made in partnership with Tidal Investments LLC. DEFI has completed the conversion of its investment strategy to allow the fund to hold spot Bitcoin and track the Nasdaq Bitcoin Reference Price, it noted. Crowded ETF Marketplace Hashdex has now become the eleventh…

United States House Financial Services Committee and House Agriculture Committee members have expressed notable concerns regarding the Securities and Exchange Commission’s (SEC) approach to managing Ethereum (ETH). The focus of their apprehension centers on crypto firm Prometheum’s plans to offer institutional custody services for ETH, which has sparked several demands for clarity and action from regulatory authorities. Regulatory Ambiguity In a letter addressed to SEC Chair Gary Gensler dated March 26, prominent lawmakers, including House Financial Services Committee Chair Patrick…

The US federal prosecutors charge KuCoin with anti-money laundering law violations, questioning its customer vetting processes. Despite legal challenges facing KuCoin, Bitcoin maintains a steady value, holding firm at $70,000, indicating continued investor confidence. Recent developments reported by Reuters reveal that KuCoin, a prominent global cryptocurrency exchange, is now facing charges from US federal prosecutors. The charges allege that KuCoin violated U.S. anti-money laundering laws by not implementing effective customer identification procedures since its inception in 2017. This alleged oversight…