Bitcoin Price (BTC) Down 1.5% to $36.9K on /DOJ Settlement Report

Bitcoin Price (BTC) Down 1.5% to $36.9K on /DOJ Settlement Report
Bitcoin Price (BTC) Down 1.5% to $36.9K on Binance/DOJ Settlement Report

Cryptocurrency markets were sharply lower on Tuesday as fading excitement about imminent approval of a spot bitcoin ETF was replaced with the reality of the continued regulatory crackdown in the US

The DOJ announced “significant cryptocurrency enforcement actions,” to be unveiled later this afternoon, sending bitcoin (BTC) lower by more than 2% to $36,400 and ether down more than 3%. The broader CoinDesk Market Index (CMI) also fell more than 3%.

Things have bounced since on a report that the DOJ’s action will be a settlement with . The news jibes with yesterday’s leak that Binance was nearing a $4 billion deal with US authorities. While that’s a large number and questions remain about possible criminal charges for Binance founder and CEO Changpeng Zhao, markets were highlighted that the report didn’t seem to indicate that the world’s largest crypto exchange was in danger of being shut down.

At press time, bitcoin is lower more than 1% to $37,000 and the CoinDesk Market Index (CMI) has trimmed its loss to below 3%. Binance exchange token BNB is higher by 6%.

However, crypto markets for the time being will have to deal with a hostile regulatory environment in the US The Securities and Exchange Commission (SEC) late last week delayed any decisions on three more spot bitcoin ETF applications, likely making any resolution on these vehicles a 2024 event. Last night, the agency launched a lawsuit against crypto exchange Kraken for operating an unregistered platform.

For Latest Updates Follow us on Google News


PREV Barrelakka, an Unemployed Youth Who Turned Cattle Herder, Creates Ripples
NEXT Discovery Day at Forster Civic Center