Bitcoin Price: US$ 64,085.77 (-0.02%)
Ethereum Price: US$ 2,746.13 (-0.79%)
Telegram CEO Pavel Durov was reportedly arrested in France on serious charges, including terrorism and money laundering, sparking speculation about the platform’s lack of moderation and causing a significant drop in the Toncoin cryptocurrency. While Telegram issued a statement in support of Durov, his legal status remains unclear as French authorities have yet to confirm the details of his detention. Meanwhile, in Thailand, authorities raided an illegal Bitcoin mining operation in Ratchaburi after power outages revealed electricity theft, highlighting the growing issue of illegal mining in Southeast Asia, where operators exploit low electricity costs, prompting calls for stricter enforcement despite Thailand’s generally crypto-friendly regulations.
Indian crypto exchange WazirX criticised unnamed external forces for hindering its restructuring efforts aimed at restoring financial stability after a major hack, which included plans for phased rupee withdrawals and reduced fees, while its restructuring process is further complicated by legal actions in Singapore to ensure fair asset distribution following the $234 million breach. In a separate development, the US trustee overseeing FTX’s bankruptcy proceedings objected to the exchange’s reorganisation plan, citing excessive legal protections for estate administrators and unfair treatment of smaller creditors. Meanwhile, Bitcoin traders anticipate a potential surge to $68,000 based on recent price movements, with analysts predicting further gains if it surpasses key resistance levels, driven by optimistic market conditions and a favourable RSI.
Scientists at North Carolina State University and Johns Hopkins University have developed a functional DNA computer, potentially paving the way for computing systems within living cells, similar to blockchain networks validating transactions within organisms. Meanwhile, big tech companies are shifting their focus from chatbots to consumer robotics, with significant investments suggesting that personal robots could soon become mainstream. In the crypto market, analysts are monitoring Ether’s price, which could rise to $3,500 if it closes above $2,800 weekly, though some caution that increased network activity is essential for a sustained rally. Despite the launch of spot Ether ETFs, Ether’s price has been in a downtrend, with analysts divided on whether it will break out of its current patterns or continue to decline.
Hong Kong’s spot Bitcoin ETFs have surpassed $256 million in assets under management, with recent inflows boosting their total holdings to around 4,450 BTC; however, these ETFs have underperformed compared to their US counterparts, underscoring the challenges Hong Kong faces in becoming a global crypto investment hub. Meanwhile, in the US, Bitcoin buyer interest surged following signals from the Federal Reserve about potential interest rate cuts, driving Bitcoin’s price above $63,000, with analysts predicting that these cuts could spark a further bull market in crypto, reminiscent of previous rate cuts that significantly boosted digital asset prices.
Source: https://cointelegraph.com
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