Here is what happened yesterday in the crypto market:
Bitcoin Reclaims $100K Amidst Market Optimism
Bitcoin has surged past $100,000 for the first time since January, driven by renewed bullish sentiment and boosted by dovish signals from the Federal Reserve and anticipation of a trade deal led by Donald Trump [15, 41]. This milestone reflects growing confidence in the cryptocurrency market.
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Coinbase Expands into Derivatives with Deribit Acquisition
Coinbase is set to acquire Deribit, a major crypto derivatives trading platform, for $2.9 billion [3, 25, 53]. This acquisition marks a significant step for Coinbase into the derivatives market, positioning it to compete with global exchanges like Binance and solidifying the increasing importance of derivatives in the crypto space.
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CZ Seeks Presidential Pardon After Conviction
Changpeng Zhao, the founder and former CEO of Binance, has confirmed that he has applied for a presidential pardon from Donald Trump [7, 43]. This move comes after Zhao’s conviction and sentencing for money laundering violations.
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Senate Stalls Stablecoin Bill Amidst Political Concerns
The U.S. Senate has delayed the advancement of a stablecoin bill due to Democratic resistance and concerns possibly related to Donald Trump [8, 9, 48]. The bill, aimed at establishing a regulatory framework for stablecoins, faces uncertainty as it awaits further debate.
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Celsius Founder Sentenced to 12 Years for Fraud
Alex Mashinsky, the founder and former CEO of Celsius Network, has been sentenced to 12 years in prison for fraud [19, 27]. This sentencing underscores the ongoing legal repercussions for individuals involved in fraudulent activities within the crypto industry.
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