June 17, 2023 12:42 PM | 2 min read
The past week in the cryptocurrency sector has been a rollercoaster ride, with significant developments from major players and regulatory bodies.
From Binance.US’s liquidity crisis to Warren Buffett’s crypto predictions, a Texas sheriff’s clash with a Bitcoin ATM operator, a North Carolina politician’s investment in Shiba Inu, to JPMorgan Chase’s warning of an SEC ‘tsunami’, and a crypto trader’s investment strategy, the week has been packed with action. Let’s delve into the details.
Binance.US Faces Liquidity Crunch – Amidst the SEC lawsuit, Binance.US experienced a severe liquidity crunch, with market makers and traders leaving the cryptocurrency exchange at an alarming rate. The liquidity on Binance.US, measured through the aggregated market depth for 17 tokens, plunged nearly 80% in just one week. Read the full article here.
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Warren Buffett’s Crypto Prediction’s Accuracy – In a 2018 interview, Warren Buffett predicted a bad ending for cryptocurrencies. Despite the remarkable growth of Bitcoin (CRYPTO: BTC) since then, its value has seen significant fluctuations, lending some weight to Buffett’s prediction. Read the full article here.
Texas Sheriff Seizes Cash from Bitcoin ATM – A Texas sheriff seized cash from a Bitcoin ATM operated by Lux Vending (operating as Bitcoin Depot) after an 82-year-old woman was scammed into transferring $15,000 into Bitcoin. The ATM company is now in a court battle against the sheriff, arguing that the seizure contravened the US and Texas constitutions. Read the full article here.
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North Carolina Politician Invests in Shiba Inu – Shannon Bray, a gubernatorial candidate in North Carolina, announced his plans to buy Dogecoin (CRYPTO: DOGE) Shiba Inu (CRYPTO: SHIB) with his next paycheck. Bray has expressed his support for Shiba Inu multiple times on social media, believing that the cryptocurrency has accumulated significant traction. Read the full article here.
JPMorgan Chase Warns of SEC ‘Tsunami’ – JPMorgan Chase warned of a ‘tsunami’ of SEC lawsuits against crypto titans like Binance and Coinbase. The bank stressed the urgent need for US legislators to develop a comprehensive framework on how to regulate the crypto industries. Read the full article here.
Michael van de Poppe’s Top 4 Crypto Picks – Crypto trader Michael van de Poppe revealed his top four coins to invest in before 2024. His picks include Bitcoin, Ethereum (CRYPTO: ETH), Polkadot (CRYPTO: DOT), and Chainlink (CRYPTO: LINK). Van de Poppe believes these cryptocurrencies have a strong future ahead. Read the full article here.
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