The cryptocurrency market this week has been a whirlwind of legal developments, price fluctuations, and political endorsements. From Romanian prosecutors pursuing a significant Bitcoin seizure to the launch of a new crypto exchange platform, the sector continues to evolve at a rapid pace. Let’s delve into the key stories of the week.
Over $500M Worth Of Bitcoin To Be Seized From Andrew Tate
Romanian prosecutors are seeking to seize 21 Bitcoins (CRYPTO: BTC) worth around $560,000 from social media influencer Andrew Tate, who is being indicted on rape and human trafficking charges. The assets listed for seizures include 15 properties, 15 luxury vehicles, 14 watches, and Bitcoin. The wealth that the accused has amassed played a significant role in the trial, as the authorities deemed him and his associates a flight risk underpinned by their financial status. Read the full article here.
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Bitcoin And Ether Cross Crucial Levels
The world’s largest digital currency, Bitcoin, broke the $31,000 ceiling, ending the week with gains of about 19%. Meanwhile, Ether (CRYPTO: ETH) was trading at $1,920 levels, 13% higher for the week. The renewed optimism in the crypto market apparently stems from investor confidence in digital currencies, with prominent asset management firms filing for Bitcoin ETFs. WisdomTree and BlackRock, the world’s largest asset manager, sought regulatory approval for a Bitcoin ETF. Read the full article here.
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Jim Cramer Clarifies Stand On Crypto
Jim Cramer, host of CNBC’s “Mad Money”, clarified his stance on cryptocurrencies, expressing his disdain for outfits that have stolen money from investors and refused to help them retrieve their investments. He criticized Coinbase and Binance and highlighted the regulatory scrutiny these platforms are currently under, discussing the potential impact on the wider crypto ecosystem. Read the full article here.
EDX Markets Launch Sparks Crypto Frenzy
The launch of the EDX Exchange has generated excitement in the cryptocurrency world, as the new non-custodial platform gains backing from financial giants Charles Schwab, Fidelity Digital Assets, and Citadel Securities. The EDX Exchange now allows for trading in Bitcoin (CRYPTO: BTC), Ethereum, Litecoin (CRYPTO: LTC), and Bitcoin Cash (CRYPTO: BCH). Despite the excitement, Charles Schwab’s daughter, Carrie Schwab-Pomerantz, labeled crypto as gambling, indicating a cautious approach from the financial giant. Read the full article here.
Is Bitcoin Becoming An Election Issue?
U.S. presidential candidates from different parties are throwing their weight behind Bitcoin (CRYPTO: BTC) and related technologies. Democrat candidate Robert F. Kennedy Jr. pledged his commitment to fostering policies that support Bitcoin. On the other hand, Republican presidential candidate Vivek Ramaswamy is not only a proponent of Bitcoin but is also accepting campaign donations in cryptocurrency. Read the full article here.
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