Good morning crypto insiders, in this article we present a summary of the most important events in the crypto world that took place last night.
This way you can quickly find out about the latest developments. More detailed articles on these topics will appear on Crypto Insiders later today.
Bitcoin below $70,000 but memecoins are rising
The crypto market is mostly in the red this morning. Bitcoin (BTC) appears to be having some difficulty maintaining its position above $70,000 and has fallen just below $69,900 at the time of writing.
Toncoin (TON) is falling particularly hard, down almost 9% Memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB) and Dogwifhat (WIF) are in positive territory. Mantle (MNT) is actually up almost 30%.
Bitcoin ETFs are having another stellar day
Despite the somewhat unstable market, US Bitcoin performed perfectly exchange-traded funds (ETFs) were very strong again yesterday.
Exchange-traded funds recorded five straight days of net outflow last week. That trend was broken on Monday, but net inflows amounted to just $15.4 million.
However, yesterday, March 26, net outflows reached $418 million, marking another strong performance.
KuCoin outflow after indictment
However, it is not the ETFs that currently dominate the market, but the situation surrounding the large crypto exchange KuCoin.
KuCoin and its founders were indicted by US authorities yesterday. They accuse the trading platform of violating anti-money laundering practices.
Since the indictment, more than $800 million in capital has left the exchange. The value of the Kucoin (KCS) coin has now fallen by 13%.
Ripple can easily pay well, says SEC
Then we have another topic that is currently occupying the market: the Ripple (XRP) lawsuit with the US Securities and Exchange Commission (SEC).
Yesterday it was announced that the SEC is demanding that the judge impose a fine of almost $2 billion on Ripple.
The SEC now says that Ripple can easily pay the amount. It also believes the penalty is necessary because Ripple is not listening to warnings given its massive sales of XRP over the past three years, the SEC said.
Worldcoin is also under fire in Portugal
Finally we have news about ChatGPT founder Sam Altman’s controversial Worldcoin (WLD) project.
The project in Spain recently had to be stopped. Now it’s Portugal’s turn. The Portuguese regulator has stopped collecting personal data and biometric data through eye scans while conducting investigations.
