Bitcoin returned to levels above $70,000, SBF received 25 years in prison, CommEX began suspending work, the United States accused the bitcoin exchange KuCoin of laundering $9 billion and other events of the past week.
The price of bitcoin has returned to above $70,000
Starting the week at $ 65,000, the quotes of the first cryptocurrency rushed up. On Tuesday, March 26, digital gold reached $71,000. The next day, the asset price dropped below $69,000, but then recovered.
At the time of writing, bitcoin is trading at $70,500.
The BTC/USDT hourly chart of the Binance exchange. Data: TradingView.Most of the digital assets from the top 10 by capitalization ended the week in the "green zone". Solana (+11.9%) and Dogecoin (+21.7%) added more than others.
Data: CoinGecko.The total capitalization of the cryptocurrency market is $2.8 trillion. The Bitcoin dominance index is 53.6%.
Sam Bankman-Fried was sentenced to 25 years in prison
Former FTX CEO Sam Bankman-Fried has been sentenced to 25 years in prison, according to a decision by the court of the Southern District of New York. He was also ordered to pay a fine of $11 billion.
Earlier, Prosecutor Damian Williams insisted on a term of 40 to 50 years for SBF. He noted that Bankman-Fried refuses to admit guilt in organizing "probably the largest fraud in the last decade."
Variant Fund's chief lawyer Jake Czerwinski stressed that SBF's sentence is much milder than Ross Ulbricht, who received two life sentences for organizing the operation of the Silk Road darknet marketplace.
https://forklog.com/news/slishkom-malo-soobshhestvo-o-sroke-sema-benkmana-fridaCommEX announced the gradual suspension of work from March 25
The CommEX cryptocurrency exchange announced the gradual suspension of operations. Since March 25, the exchange has closed the registration of new users, stopped transferring assets from Binance and stopped accepting deposits in fiat and cryptocurrencies.
On March 28, the opening of positions on Simple Futures and Futures Trading was completed. From April 2, the publication of new ads on the P2P marketplace will stop. On April 5, all P2P orders and ads will be automatically closed.
On April 18, the exchange will automatically close all trading pairs on Simple and Classic futures. The spot market will close on April 23. On May 10, the official website of the exchange will stop working.
A Binance representative stated that CommEX had not fulfilled its obligations under the concluded transaction.
"This decision in no way affects our obligations to our existing Russian users, whose digital assets remain secure, but users can no longer switch to CommEX," he said.At the same time, the representative stressed that Binance's decision to withdraw from the Russian market remains unchanged. The platform is currently negotiating with several other service providers regarding the sale of their business in Russia.
https://forklog.com/news/mnenie-v-rf-malo-komand-sposobnyh-potyanut-lokalnyj-biznes-binanceWhat should I discuss with my friends?
A "sleeping" address for 12 years has moved bitcoins by $35 million.Ethena Labs will conduct an airdrop of 750 million ENA tokens.The trader received $8.9 million in two hours on the "cat" MEW token.The airdrop of the DED meme token disappointed the Polkadot community.The United States accused bitcoin exchange KuCoin of laundering $9 billion
The US Federal Prosecutor's Office has accused the KuCoin cryptocurrency exchange of laundering $9 billion.
According to the authorities, the founders of the platform are Chun (Michael) Gan and Ke (Eric) Tang did not implement KYC/AML procedures from 2017 to 2023, although they served over 30 million customers. Subsequently, identification and verification were not extended to existing users.
Thus, the exchange was actually "used to launder proceeds from suspicious and criminal activities, including sanctions violations, darknet markets and ransomware programs."
The CFTC filed a separate lawsuit against KuCoin. She also accused the platform of failing to comply with KYC and failing to register as a futures contract broker, a swap execution platform or an authorized derivatives market.
Notcoin announced the date of termination of the "mining" of the coin
From April 1, the team of the Notcoin gaming Web3 project will stop the possibility of mining coins.
In their Telegram channel, they stated that since the launch, a huge community has formed around the clicker.
The team also mentioned user complaints about the game hanging and various glitches when using it. They jokingly promised to deal with this "within a week."
On March 25, the Bybit cryptocurrency exchange opened a premarket for the NOT token.
Also on ForkLog:
The fifth largest bitcoin wallet has moved 94,500 BTC.Bitcoin mining difficulty dropped by 0.97%.MicroStrategy shares have updated a 24-year high.Nilam Resources has announced plans to purchase 24,800 BTC.https://forklog.com/news/trudnye-vremena-dlya-binance-regulyatornye-i-mezhdunarodnye-problemy-birzhiRobert Kiyosaki allowed Bitcoin to collapse to zero
The author of the bestseller "Rich Dad, Poor Dad" and entrepreneur Robert Kiyosaki said that the first cryptocurrency could turn out to be a scam and collapse to zero.
According to him, bitcoin is a Ponzi scheme no more than the US dollar, euro, yen or other "fake" or fiat currency.
"The entire US dollar is American debt. [I am concerned about] our political, banking and financial leaders. They are either incompetent, corrupt, or both. Our leaders have no idea how to control the growing national debt and the US bond market, as well as the overly inflated stock market," Kiyosaki explained.Kiyosaki admitted that the price of bitcoin may drop to zero, but this also threatens the US dollar, the Australian dollar, the British pound, the Japanese yen and the fiat currency of any country. History proves that thousands of "fake" currencies have already gone to the graveyard of fiat money, he added.
What else should I read?
This week, ForkLog explained what interoperability is.
https://forklog.com/exclusive/ai/pristegnite-remni-cheloveki-pochemu-nam-i-vam-nuzhny-robomobiliThe traditional digest contains the main events of the week in the field of cybersecurity.
The most important news from the participants of the crypto industry was collected in a separate digest.
https://forklog.com/news/kalendar-na-aprel-halving-bitkoina-i-prigovor-chanpenu-chzhao