Here is what happened yesterday in the crypto market:
Trump Administration Shifts Toward Crypto Acceptance
The Trump administration’s evolving stance on digital assets is fostering optimism within the crypto community, despite lingering uncertainties. As U.S. policy shifts, the potential for robust crypto innovation seems more attainable.
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Traders Adjust Following Federal Reserve’s Steady Rate Outlook
In light of the Federal Reserve’s minutes indicating a steady rate outlook, crypto traders are opting to deleverage, highlighting a conservative approach in a volatile market.
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Bybit Suffers $1.5 Billion Outflow Amid Security Incident
Reports of a massive $1.5 billion worth of crypto outflows from Bybit are causing concern as the exchange faces potential security threats. The incident has contributed to a market dip that affects major cryptocurrencies like Bitcoin and Ether.
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SEC’s Shift Could Lift Coinbase’s Market Standing
The SEC seems set to drop its enforcement case against Coinbase, a move anticipated to refresh market sentiment and potentially drive prices higher across the crypto sector.
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Nigerian Government Seeks Major Damages from Binance
In a drastic move, Nigeria’s Federal Inland Revenue Service is suing Binance for $81.5 billion in economic losses and back taxes, reflecting the rising tension between governments and crypto exchanges globally.
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