Bitcoin Plunges Below $84K after $115B Sell-Off Wipes Out Weekly Gains
2025-03-28 21:12
Ethereum's ETH hit its weakest price against bitcoin in almost five years as macroeconomic concerns added pressure to risk assets.
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05:09
Brazilian judge allows NFT subpoena to be issued to Bitcoin wallet in BWA Brazil fraud case
According to Cryptoslate, a Brazilian court has approved the use of NFTs to issue a notice to an unconfirmed defendant involved in a missing Bitcoin case, which is related to the alleged pyramid scheme of BWA Brazil company. This decision stems from a legal lawsuit filed by the BWA Brazil bankruptcy court appointing a trustee who attempted to interrupt the statute of limitations for claims related to cryptocurrency assets allegedly obtained using creditor funds. The bankruptcy estate requests the court to allow the casting of NFTs containing relevant legal documents and sending them to the wallet address involved in the initial transaction for digital delivery of legal process documents. In addition, the prosecutor's office also submitted favorable opinions in support of the trustee's request. This measure targets digital asset holders whose identities are unknown but whose wallet addresses can be traced through the Bitcoin blockchain. The bankruptcy estate claims that approximately 11200 BTC were obtained using creditor funds. At current prices, 11200 bitcoins are worth over $900 million. According to the litigation documents, these transactions occurred before bankruptcy and may currently face recovery proceedings. BWA Brazil was founded by Paulo Roberto Ramos Bilibio in 2017. The company froze withdrawals in early 2020, resulting in an estimated loss of 300 million Brazilian reals (approximately $52.2 million) for customers. Authorities estimate that this is one of the biggest losses in Brazil related to suspected cryptocurrency pyramid schemes. In July 2020, a Brazilian court approved BWA's judicial restructuring application, stating that it would repay its clients. However, less than a year later, another court order changed the procedure from judicial reorganization to bankruptcy, stating that the company had not made any efforts to repay its customers.
05:03
Bitcoin ETF holders have an average floating profit of 17%
Odaily Planet Daily News: According to CryptoQuant data, the average unrealized return rate for Bitcoin spot ETF holders is currently 17%. This data reflects that ETF investors are generally in a profitable state at the current market stage.
04:52
Vanuatu passes cryptocurrency regulation and licensing bill, but 'very strict'
According to Cointelegraph, Vanuatu has enacted laws to regulate digital assets and provided a licensing system for cryptocurrency companies wishing to operate in Pacific island countries, which a government regulatory advisor described as "very strict". On March 26th, the local parliament passed the Virtual Asset Service Providers Act, granting the Vanuatu Financial Services Commission (VFSC) the authority to license cryptocurrencies and enforce the Financial Action Task Force (FATF) anti money laundering, counter-terrorism financing, and travel rule standards on cryptocurrency companies. According to these laws, VFSC has extensive investigative and enforcement powers and has imposed fines of up to 250 million Vatu (approximately $2 million) and imprisonment for up to 30 years. This law establishes a licensing and reporting framework for exchanges, NFT markets, crypto custody service providers, and initial coin offerings. It is worth noting that this law allows banks to obtain licenses to provide encrypted trading and custody services. VFSC stated that although stablecoins, tokenized securities, and central bank digital currencies may have some similarities with virtual assets in practice, this legislation does not affect them. The legislation also allows VFSC commissioners to create a sandbox that allows approved companies to provide multiple encryption services for a period of one year and renewable. In a statement on March 29th, the regulatory agency stated that after years of "assessing risks related to virtual assets," it has developed a legislative framework that will bring "numerous opportunities" to Vanuatu and improve financial inclusion by allowing regulated services for encrypted cross-border payments.
04:31
Linda Lacewell, former head of the New York State Department of Financial Services, has been appointed as OKX's Chief Legal Officer
According to OKX's official Twitter account, Linda Lacewell, former head of the New York State Department of Financial Services, has recently been appointed as OKX's Chief Legal Officer. It is reported that Linda Lacewell has been a member of the OKX board of directors since 2024, during which she played a key role in providing strategic advice to the board and legal department. OKX CEO Star stated, "This is the golden age for the cryptocurrency industry and OKX, and OKX will continue to increase its investment in compliance and innovation. We look forward to launching more exciting products in April to provide users with a better experience
04:11
Analyst: The market is waiting for the implementation of Trump's tariffs, and a rebound in Q2 is entirely possible
According to BlockBeats, on April 1st, Presto research analyst Min Jung said, "Currently, the market is in a wait-and-see mode as details of tariffs have not yet been disclosed. Investors are mixed emotions, with some seeing the impact as not as severe as initially feared, and seeing the recent decline as a potential 'buy on dips' opportunity. However, many traders still choose to remain on the sidelines until the situation becomes clearer. The next move in the market will largely depend on the tone and content of actual announcements Brickken market analyst Enmanuel Cardozo said, "Everyone expects Trump's support for cryptocurrency to have an immediate effect, but the reality is that policy implementation takes time. Global economic uncertainty has fueled a safe haven atmosphere around the world, and by the end of 2024, the market has already digested expectations of Trump's victory. However, economic recovery in the second quarter is definitely possible, and the Federal Reserve is generally expected to cut interest rates in the second quarter. Trump's team will also produce more concrete results in supporting cryptocurrency policies. With the increase of institutional funding flows, momentum may strengthen. If Bitcoin breaks through the resistance level of $88668, it may test $100000 again, but if macro factors stagnate and fall, it may test $100000 again. The possibility is also not high BlockBeats note: Trump is expected to announce the corresponding tariff measures at 3:00 pm on Wednesday (3:00 am Beijing time the next day). Announce several 'large-scale tariffs'.