#Market_Update Macroeconomic Pressure: Uncertainty regarding U.S. Federal Reserve policy and the nomination of Kevin Warsh as Fed Chair has fueled hawkish expectations, strengthening the U.S. dollar and weighing on risk assets like crypto.
Regulatory & Legal Actions:
FTX Trial News: Sam Bankman-Fried has filed a request for a new trial following his fraud conviction.
Coinbase Enforcement: The Nevada Gaming Control Board filed a civil enforcement action against Coinbase on February 3, alleging unlicensed wagering through sports event contracts.
China Crackdown: China has intensified prohibitions on virtual currencies, specifically targeting overseas stablecoin issuance and onshore trading.
Institutional Activity: MicroStrategy (MSTR) remains committed to its long-term strategy, recently acquiring an additional 1,142 Bitcoin for $90 million despite the market slump
BTC
66,429.04
-1.76%