Crypto News Today: Bitcoin Falls, Top Cryptos Feel the Heat
- Bitcoin is trading above $66,500, while Ethereum is struggling to reach $3,600
- The cryptocurrency market saw a 0.60% rise, bringing its total market capitalization to $2.56 trillion
Crypto market cap up 0.60%, reaching $2.56 trillion now
BitMEX founder predicts risks for Solana and Aptos, highlighting a major crypto custodian hack as the crypto market's biggest threat.
Congressman Ro Khanna plans Bitcoin strategy roundtable with Biden Admin and industry leaders in D.C.
Major Events To Watch
Crypto Fear and Greed Index:
The Crypto Fear and Greed Indicator shows a market sentiment of 71 Greed, consistent with yesterday, but slightly down from last week's 74 Greed.
CryptoCurrency saw a significant rise in the past 24 hours
TOP 5 Gainer Coins
| Indices | LTP | Change (%) |
|---|---|---|
| Brett | $0.1567 | 9.78% |
| Jasmycoin | $0.037 | 9.76% |
| LidoDAO | $2.14 | 7.01% |
| Jupiter | $0.9012 | 4.61% |
| Kaspa | $0.157 | 3.78% |
Latest Market Update:
#Bitcoin ($BTC), the world’s oldest and most valued cryptocurrency, dipped below the $67,000 mark over the weekend.
Other popular altcoins, including #Ethereum ($ETH), #Dogecoin ($DOGE), #Ripple ($XRP), #Solana ($SOL), and #Litecoin ($LTC), landed in the red across the board.
#BRETT token emerged as the biggest gainer, with a 24-hour increase of over 10.16%.
#Notcoin ($NOT) became the biggest loser, with a 24-hour decrease of nearly 8.88%.
Total crypto market volume over the last 24 hours: $47.86 billion, increased by 8.33%.
DeFi volume in the last 24 hours: $4.24 billion, comprising 8.85% of the total crypto market volume.
Volume of stable coins in the last 24 hours: $43.42 billion, accounting for 90.73% of the total crypto market volume.
Bitcoin dominance: 53.98%, decreased by 0.05% over the day.
Major Worldwide News Update:
The SEC criticized Ripple Labs' plea for a reduced penalty, contrasting it with the $4.5 billion settlement of bankrupt Terraform Labs. The SEC argued that Ripple's proposed $10 million penalty is insufficient compared to the $876.3 million sought. The SEC proposed nearly $2 billion in penalties for Ripple, including civil penalties and disgorgement.
The MEV sandwich bot "arsc" has earned around $30 million from Solana users in two months by manipulating transactions. Operated discreetly, its main wallets hold $29.8 million in various tokens. The bot uses sophisticated algorithms to exploit price differences, a common practice among MEV bots on both Solana and Ethereum.
Mark Cuban believes SEC head Gary Gensler could negatively impact Joe Biden's reelection by undermining crypto voters. Cuban has called for the CFTC to regulate crypto instead. Meanwhile, Biden's administration has shown a negative stance on crypto, unlike Donald Trump, who supports and promises to protect the industry.
BitMEX CEO Arthur Hayes predicts Aptos will surpass Solana as the second leading Layer 1 blockchain within 1-3 years. He expects a Dogecoin ETF soon and sees meme coins as the "luxury brand" of crypto. Hayes also warns of rising crypto custodian hacks, potentially losing $50-$100 billion in assets.
The FTX Debtors Estate seeks to claim Sam Bankman-Fried's seized assets, including Robinhood shares, bank funds, aircraft, and political contributions, citing superior rights. Emergent and FTX creditors also claim these assets. Creditors propose an in-kind settlement for customers and criticize prioritizing non-customer creditors like BlockFi. Court hearings will follow.
OpenAI is considering shifting from a capped-profit to a fully for-profit model to enhance its financial and technological capabilities. With a valuation near $86 billion, the company seeks flexibility for AGI research. This change includes board expansions, drawing criticism from figures like Elon Musk and Edward Snowden over ethical concerns.
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