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Bitcoin (BTC) price fell to under $56,000 as the German government sold more BTC On-chain data shows Germany sent more than 16,000 BTC to exchanges on Monday – the largest transfers in a single day. Bitcoin price fell below $56,000 again on Monday, dropping by about 2% at the time of writing as Germany took its BTC selling spree to a new level. Per on-chain data tracking the Bitcoin held by the German government , Monday saw more than 16,000 BTC sent to crypto exchanges – the largest such dump by the government -controlled wallet in a single day. The selling intensified amid transfers of 2,700 BTC , 5,200 BTC and 8,100 BTC in quick succession over a two hour period.   “The German Government sent another 5200 BTC ($297.3M) to Kraken, Bitstamp, Coinbase and 139Po right after we posted this tweet. That makes this the biggest day for them so far – over 16,000 BTC in total,” the Arkham team posted on X. Bitcoin price...

Is the settlement further indication that the crypto industry’s Wild West era is winding down, with a new epoch marked by regulation and taxation beginning? Many predicted that Binance would never embrace regulation — it would only pretend to comply in jurisdictions like the United States.  No more. Binance pleading guilty to money laundering and other federal charges on Nov. 21 means it’s giving up its free-booting ways. It will also pay a $4.3 billion fine, the largest in the history of the U.S. Treasury Department. Moreover, Binance’s founder, CEO and principal owner Changpeng “CZ” Zhao — deemed by many the most powerful individual in crypto — will be sidelined from the firm for at least three years after the naming of a court-appointed monitor. Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myse...

In the realm of digital finance, where complexity, diversity, and intrigue intertwine, the estimated sum of $5 billion emerges as a point of interest. This valuation hinges on three significant seizures linked to the infamous Bitfinex hack and the enigmatic Silk Road. However, it’s worth noting that the genuine extent of these holdings might dwarf our initial estimate. Unfolding the narrative further, the United States government assumes the role of one of the most prominent Bitcoin custodians on the global stage. Their digital wallet boasts an impressive treasury, encompassing over 200,000 BTC , a fortune exceeding $5 billion . Curiously, this considerable sum remains intact despite the government ’s prior liquidation of a few thousand BTC , raking in millions. Venturing into the depths of this financial labyrinth, a data analysis conducted by the cryptocurrency experts at 21.co shines a revealing light. According to their calculations, the U.S. government’s stash ...

Cointelegraph analyst and writer Marcel Pechman explains how a weakening German economy — Europe’s largest — is a positive for cryptocurrencies. In the latest episode of Macro Markets , Cointelegraph analyst Marcel Pechman discusses the recession in Germany, Europe’s largest economy . According to a recent headline in The Wall Street Journal, “Germany is dragging down Europe’s economy .“ The article explains how the country heavily depends on manufacturing, which has been hurt as foreign governments rush to protect domestic industries. According to Pechman, Germany’s gross domestic product (GDP) ranks fourth globally, 42% bigger than France’s GDP. Moreover, manufacturing is responsible for nearly 20% of its economy . To make things worse, the manufacturing industry in Germany employs 10% of the workforce. As the surplus (exports minus imports) reached its lowest level in 23 years, it is causing a GDP contraction for Germany, which affects the government’s capabilities to pay for its...

Belarus’ Ministry of Foreign Affairs cited a high crypto crime rate for banning all citizens from exchanging Bitcoin between each other. The Belarusian foreign ministry is working on legal amendments to prohibit peer-to-peer, or P2P, transactions in cryptocurrencies like Bitcoin (BTC). The Ministry of Foreign Affairs (MFA) of the Republic of Belarus on July 2 issued an official announcement on Telegram about new legislation that would ban P2P crypto exchange for individuals. The authority cited a high cybercrime rate in Belarus, stating that local prosecutors have suppressed the activity of 27 citizens providing “illegal crypto exchange services” since the beginning of the year. Their total illegal revenues amounted to nearly 22 million Belarusian rubles ($8.7 million). The foreign ministry argued that crypto P2P services are “in demand among fraudsters who cash out and convert stolen funds and transfer money to organizers or participants in criminal schemes.” In order to eliminate...

The Global Financial Crisis was a widespread economic downturn that began in 2008 and resulted from the collapse of the housing market and investment banks. When the financial system or the economy as a whole undergoes a rapid and large decline, it is said to be in a financial crisis. Financial assets like stocks, bonds, and real estate often see a sharp and significant decline in value during financial crises. They can also be identified by a decline in credit availability and a loss of faith in financial institutions like banks. Related: DeFi vs. CeFi: Comparing decentralized to centralized finance Financial crises can be caused by a variety of factors, including: Overleveraging: When people, businesses, and governments take on excessive debt, they put themselves at risk of a financial collapse. Asset price bubbles: When the cost of an asset, such as a home or stock, rises quickly, it can lead to a financial crisis when the price falls sharply. Bank runs: When enough customers attem...