Bankman-Fried Faces Aggressive Government Crackdown, Crypto Market Heating Up

by admin .

• Bankman-Fried’s $250M bond is deemed a ‚joke‘ by securities lawyer.
• US government is cracking down on the crypto industry with a flurry of actions.
• OpenSea has gone zero-fee and Bitcoin, Ethereum, Ripple and Litecoin saw drops in their last sessions.

Bankman-Fried’s Bond Deemed a ‚Joke‘

Securities lawyer James Murphy, founder of Ludlow Street Advisors, declared Sam Bankman-Fried’s bail terms to be „ludicrous“. He said that no real money was used for the $250 million bond, only the promise of it should Bankman-Fried flee the country.

US Government Cracks Down On Crypto Industry

Cryptocurrency entrepreneurs had hoped that 2023 would provide a new beginning after a tumultuous year. However, they have been faced with an aggressive government crackdown instead, with many companies being targeted by the SEC.

OpenSea Goes Zero-Fee

The leading non-fungible token marketplace OpenSea stated it will be temporarily eliminating its marketplace fee in order to compete with popular no-fee marketplace Blur.

Bitcoin Drops 0.4% In Last Session

The Bitcoin fell 0.4% against the Dollar in the last trading session . The RSI gave a positive signal with support at 24242.3333 and resistance at 25048.3333 . The RSI is currently in positive territory .

Daily Economic Calendar: EMU Consumer Confidence & NL Consumer Confidence Adj.
Today’s economic calendar includes releases such as Eurozone’s Consumer Confidence at 15:00 GMT, Dutch Consumer Confidence Adj at 05:30 GMT and Finland’s Consumer Price Index at 06:00 GMT . A high level of consumer sentiment is bullish for the overall economy .