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In a superseding indictment unsealed on Jan. 2 in the US District Court for the Southern District of New York, US Attorney Damian Williams alleged Kwon conspired with others to commit money laundering.
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As always, the public is urged to rely on official government sources for accurate information rather than sensationalized social media posts.
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Amid the ongoing bull market of 2024, some industry figures, including Galaxy Digital CEO Mike Novogratz, highlighted rumors that China was “likely to unban” Bitcoin in July. Still, the community was mostly skeptical.
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The Chinese government has maintained its anti-crypto, enforcing an interdepartmental crackdown on crypto in 2021. Despite the ban, China’s authorities have repeatedly declared that crypto assets are legal properties protected by law.
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No longer merely the playground of crypto enthusiasts and retail traders, Bitcoin is now catching the eye of institutional heavyweights and companies seeking refuge from an increasingly volatile economic landscape.
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In an era marked by inflation, currency debasement and shifting geopolitical dynamics, Bitcoin has emerged as an intriguing — if unconventional — answer to the world’s macroeconomic ills.
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Trump’s election may have acted as a catalyst, igniting the already warming bull market, but he isn’t the sole driver behind Bitcoin’s surge. Favorable macroeconomic conditions also have provided a tailwind.
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The prospect of a genuinely crypto-friendly government has poured fuel on the fire lit by the Bitcoin ETFs, propelling its price above $100,000 in just one month.
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With Republicans securing control over both houses of Congress and the executive branch, Trump will have the power to fulfill his pro-crypto promises. Whether he acts on all of them, such as the promise of a Bitcoin stockpile — or even a Bitcoin reserve — remains to be seen, but the early signs have been promising in terms of pro-crypto nominations for the most prominent jobs in the administration.
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For the first time, crypto became a relevant topic in a US presidential campaign. Many crypto pundits saw the US election’s outcome as offering a binary result for Bitcoin’s price performance: Either it would catapult with Trump’s pro-crypto stance or continue to stagnate if Vice President Kamala Harris won.
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Crypto markets have traded sideways for a long time, with the price of Bitcoin, specifically, remaining relatively stable. Trump’s electoral campaign and subsequent election victory changed this rapidly.
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Institutional investors now have a vehicle with which they can gain exposure to crypto markets while complying with regulations. Their choices are currently limited to Bitcoin and Ether, though this could change soon.
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This shift in sentiment was notably underscored by BlackRock CEO Larry Fink, who told CNBC’s Jim Cramer on July 15 that he had been a Bitcoin “skeptic” but that after studying the asset, he became a believer. “It is a legitimate financial instrument,” he said.
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The influx of capital signals a broader institutional embrace of the crypto market, setting the stage for sustained growth.
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Uniswap has smashed its record for monthly volume across Ethereum layer 2s as DeFi buffs flooded back into the ecosystem.
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XT.com subsequently issued a statement acknowledging an “abnormal transfer of platform wallet assets.”
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The statement was issued about an hour before blockchain security firm PeckShield reported that XT.com “appeared to have been hacked” for $1.7 million worth of cryptocurrency.
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The exchange suspended withdrawals, citing “wallet upgrade and maintenance,” it said on Nov. 28.
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XT.com, a cryptocurrency exchange with a reported daily trading volume of $3.4 billion, has suspended withdrawals after a suspected $1.7 million hack.
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Today in crypto, cryptocurrency exchange XT.com has suspended withdrawals after a suspected $1.7 million hack, Uniswap has set a new record for monthly volume amid increased demand for assets and stablecoins in decentralized finance (DeFi), and Tether has stopped minting its Euro-pegged EURt stablecoin and will cease support in November 2025.
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