📉 Market Movements
Bitcoin took a hit this week, dropping over 13% from $106,000 to $92,000. The decline comes amid growing economic uncertainty, geopolitical tensions, and a series of security breaches in the crypto space.
🔓 Major Security Breach
A major hack shook the crypto world as Dubai-based exchange Bybit lost approximately $1.5 billion worth of Ethereum. The exploit occurred during a routine transfer, with hackers diverting funds to an unknown address. Bybit has assured users that remaining assets are secure but warned of potential withdrawal delays.
🏛️ Regulatory Updates
Robinhood breathed a sigh of relief after the SEC closed its investigation into the company’s crypto operations without taking enforcement action. Meanwhile, the Trump administration appears to be taking a more lenient stance on crypto, with several lawsuits against exchanges being dismissed.
🏢 Corporate Moves
MicroStrategy continued its aggressive bitcoin accumulation, purchasing an additional 20,356 BTC. The company now holds nearly 500,000 bitcoins, worth approximately $47.4 billion, as part of its long-term strategic investment in digital assets.
🇦🇷 Political Scandals
Argentina’s President Javier Milei is under fire after promoting the meme coin $LIBRA, which saw a sharp price surge followed by a dramatic crash. Critics are accusing the president of involvement in a “rug pull” scheme, with opposition parties demanding an investigation.
🎯 Fun Fact
In a hilarious twist, North Korean hackers from the infamous Lazarus Group, known for stealing billions in crypto, lost 46,300 XRP (~$121,000) after forgetting to include a destination tag in a transaction — making the funds unrecoverable. Even cybercriminals can have a bad day!
Stay tuned for more updates, and as always, stay safe in the crypto space! 🚀💰
🚀 Crypto News of the Week 🌐 was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
