AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Bitcoin suffered its biggest drop in four weeks overnight.
- Bitcoin’s price currently sits at US$40,430 after being above US$44,000 for much of the week.
- Illegal crypto transactions jumped almost 80% in 2021.
Bitcoin suffered its biggest drop in four weeks overnight. The world’s largest cryptocurrency fell a whopping 8% in just 24 hours marking the end of a rally that seemed to spell the end of Bitcoin’s plummeting price.
Experts have pointed to geopolitical tensions in Ukraine as well as a potentially overly aggressive Federal Reserve tightening policy in the near future as reasons behind the fall.
Bitcoin’s price currently sits at US$40,430 after being above US$44,000 for much of the week.
USJD names new crypto crime tzar
The US Justice Department has named a veteran cybersecurity prosecutor to lead a new team designed to investigate and prosecute illegal cryptocurrency schemes.
On Thursday, Deputy Attorney General Lisa Monaco announced Eun Young Choi would be the first director of the National Cryptocurrency Enforcement Team, whose goal will be to identify and dismantle the misuse of cryptocurrencies and other digital assets.
Monaco stated that it was necessary for the crypto space to be a trusted platform given the likelihood of crypto being more widely adopted in the near future.
In the past two years, the crypto space has exploded as both retail investors and institutional investors try to cash in on the booming market.
However, given crypto’s largely unregulated industry as well as the anonymity that crypto offers, the space has been a breeding ground for cybercrime.
According to blockchain analytics firm, Chainalysis, illegal crypto transactions jumped almost 80% in 2021, reaching an all-time high of US$14 billion.
Crypto Winners and Losers
Image Source @ 2022 Kalkine Media®
Data Source: Coinmarketcap.com, based on top 100 cryptos.
Note: Growth from the 24 hours prior to 12:30pm AEDT
