Cointime

Download App
iOS & Android

Here’s what happened in crypto today

Validated Media

On April 30, Bitcoin dropped to a two-weeks low following modest trading volumes from newly launched crypto exchange-traded funds (ETFs) in Hong Kong, contrary to market expectations. Meanwhile, in the United States, former Binance CEO Changpeng “CZ” Zhao received a four-month prison sentence, concluding a prolonged legal battle with local authorities.

In other news, the early crypto investor known as ‘Bitcoin Jesus’ faced charges of evading nearly $50 million in taxes. Moreover, Gary Gensler’s previous statements regarding Ether in Congress are being scrutinized. Here’s what happened in crypto today:

Bitcoin sub-$60K levels in focus after daily crypto liquidations near $300M

Bitcoin hit two-week lows on April 30 after new spot exchange-traded funds (ETFs) disappointed. The already cautious mood turned firmly bearish as it emerged that the first day’s trading volumes for Hong Kong’s new Bitcoin ETFs had fallen considerably below expectations.

Data from Cointelegraph Markets Pro and TradingView tracked a precipitous drop on BTC/USD after the Asia trading session, with the pair losing $61,000 support. Liquidations quickly mounted across crypto, totaling $275 million over 24 hours, per data from monitoring resource CoinGlass.

BTC/USD 1-hour chart. Source: TradingView

Ex-Binance CEO Changpeng Zhao sentenced to four months in prison

A federal judge has sentenced former Binance CEO Changpeng “CZ” Zhao to four months in prison for violating U.S. money laundering laws.

Although prosecutors had sought a three-year prison term for CZ’s failure to implement an effective Anti-Money Laundering (AML) program at the cryptocurrency exchange, his defense argued for probation. CZ had previously pleaded guilty to the charges in November.

Before being sentenced, CZ apologized for his actions and said he “had a lot of quiet time alone to think and reflect.” He added he accepted responsibility for Binance’s failure to implement an effective AML program. 

  Source: Changpeng Zhao

US Justice Dept charges Roger Ver with tax fraud

Officials with the U.S. Department of Justice announced charges against early Bitcoin investor Roger Ver, known by many as ‘Bitcoin Jesus.’ 

In an April 30 notice, the Justice Department said authorities in Spain had arrested Ver based on criminal charges in the United States, including mail fraud, tax evasion and filing false tax returns. The U.S. government alleged Ver defrauded the Internal Revenue Service (IRS) out of roughly $48 million with his failure to report capital gains on his sale of Bitcoin and other assets.

Patrick McHenry accuses Gary Gensler of misleading US lawmakers over Ether

U.S. House Financial Services Committee Chair Patrick McHenry has alleged Securities and Exchange Commission Chair Gary Gensler “knowingly misled Congress” over the regulator’s alleged attempts to classify Ether as a security.

Representative McHenry claimed in a post on X that Gensler intentionally misled lawmakers in testimony before the Committee, in a reference to claims made in a recent court filing by software firm Consensys, which filed a lawsuit against the SEC on April 25.

CZ
Comments

All Comments

Recommended for you

  • Investment institution Arca is suspected of clearing out the PENDLE/LDO/BNB bought two weeks ago, with a current floating profit of $636,000

    According to the on-chain analyst @ai_9684xtpa, investment firm Arca (@arca) is suspected of liquidating its holdings of PENDLE/LDO/BNB that were purchased two weeks ago, with a potential profit of $636,000.

  • Harris concept meme coin KAMA increased 100 times in 3 months

    According to the data on the chain, the unofficial Kamala Harris meme coin (KAMA) on Solana has skyrocketed by 10,000% in the past three months, from $0.0003216 to $0.0319. At the end of March, when trading started, KAMA's market value was less than $100,000. Currently, KAMA is only 15% behind TREMP (a Trump-themed meme coin launched a month ago), which had a market value of $150 million in the first week of June but has since dropped to $43 million, while KAMA's market value has reached $38 million. Meanwhile, Boden (a Biden-themed meme coin) has plummeted 98% from its high of $650 million in April to its current market value of $11.1 million.

  • In the past hour, the entire network has liquidated 112 million US dollars, mainly long orders

    According to Coinglass data, in the past hour, the entire network has liquidated $112 million, of which long positions were liquidated for $108 million and short positions were liquidated for $3.9836 million.

  • Biden speaks out on withdrawing from 2024 US presidential election

    On the 24th local time, US President Biden gave a speech in the Oval Office of the White House, explaining the reasons for his withdrawal from the 2024 presidential election. On July 21st local time, US President Biden announced his withdrawal from the 2024 presidential election. In a letter posted on his personal social media that day, Biden said that he had intended to seek re-election, but for the best interests of the Democratic Party and the United States, he decided to withdraw from the presidential race and focus on fulfilling his presidential duties during his term.

  • Grayscale Spot Ethereum ETF (ETHE) had a net inflow of $45.9 million yesterday

    As monitored by Farside Investors, data from yesterday (July 24th) shows that Grayscale Ethereum ETF (ETHE) had a net inflow of $45.9 million in the US spot Bitcoin ETF.

  • Caldera Raises $15 Million in Series A Funding to Expand Metalayer Interoperability Ecosystem

    Caldera, a platform that enables developers to quickly create layer-2 blockchains, has raised $15 million in a Series A funding round led by Founders Fund, Peter Thiel's investment firm. The funds will be used to expand Caldera's team and build out the Metalayer, an interoperability ecosystem that simplifies the process of launching applications across multiple blockchains. Caldera currently offers a user-friendly interface for launching layer-2 "rollup" chains that record data to Ethereum, with the ability to select a rollup ecosystem and customize components to fit specific use cases.

  • Mt.Gox address transferred 42,583.32 BTC to its cold wallet address 9 minutes ago

    According to Arkham data, 42,583.32 BTC was transferred to its cold wallet address by Mt.Gox address 9 minutes ago.

  • Thai digital wallet registration will be open from August 1 to September 15

    On July 24th, according to Jin10 News, it is reported that the registration of digital wallets in Thailand will be open from August 1st to September 15th. The Deputy Minister of Finance of Thailand stated that digital cash consumption will begin in the fourth quarter and it is expected that the digital wallet plan will attract 45 million participants. The government has prepared 450 billion baht in funds.

  • Twitter's new feature shows Irene Zhao involved in multiple scam projects

    On July 24th, Jupiter will collaborate with Irene Zhao to launch the meme coin metadata platform ASIANMOM. The tweet promoting it has now been updated with background information by readers, revealing that Irene Zhao has been involved in multiple project scams and caution should be taken when dealing with her.

  • In the past 24 hours, the entire network has liquidated $179 million, mainly long orders

    Data shows that in the past 24 hours, the total amount of liquidations on the entire network was $179 million, of which long positions accounted for $142 million and short positions accounted for $37.8893 million. The main position to be liquidated was long positions. Among them, BTC liquidated $34.2988 million and ETH liquidated $56.3217 million.