Crypto News:Good And Bad

1-Bitcoin price is still bullish

U.S. bond rates reached their highest levels in two years after stronger-than-expected job vacancy data, which caused Bitcoin to plummet on Tuesday.

On Wednesday, the bond market sell-off continued, resulting in 30-year and 10-year rates falling to 4.95% and 4.70%, respectively. The market is pricing in the Fed's continued hawkish stance all year round, as shown by rising rates.

Federal Reserve minutes due out on Wednesday and nonfarm payrolls on Friday are two events that can influence bond prices. Federal Reserve meeting details and potential monetary policy moves can be revealed in these minutes.

Economists predict that bond rates will rise due to the increased inflationary pressures caused by Trump's deportations, tariffs, and tax cuts. Stocks and cryptocurrencies might take a hit if interest rates rise, according to Moody's Chief Economist Mark Zandi.

Peter Brandt, a great trader, is optimistic about Bitcoin's future, despite the fact that bond market worries may lead to short-term turbulence. Brandt also said that the head-and-shoulders pattern on Bitcoin might imply additional volatility.

2-Licenses And Regulations On Europe

Cryptocurrency custody, proprietary trading, and primary brokerage are all areas that need approval. A company release states that these licenses allow Bullish DE to participate in the expanding digital asset market in Germany.

The Markets in Crypto-Assets Regulation, which is expected to take effect in December 2024, seems likely to boost DE's growth in Europe. As a result of harmonizing the framework, MiCA simplifies EU legislation pertaining to crypto companies.

Positively, DE plans to use its BaFin licenses to provide services to professional and institutional investors. This has the potential to strengthen the crypto market in the EU.

In February 2024, Crypto Finance, a Swiss company, was granted BaFin licenses so that it may do business throughout Europe. Trading, settlement, and custody of digital assets in Germany may be controlled under Crypto Finance's licenses.

3-Dutch Student charged crypto scam

After months of investigation into fraud and embezzlement claims including the loss of €1.5 million to €4.5 million, police arrested the guy in Hengelo, Netherlands.

RTV Oost said that the anonymous trader, formerly called a “crypto genius,” enticed relatives, friends, and local players to participate in his trading enterprise.

He allegedly charged 50% of earnings. His transactions originally profited, but losses doomed the enterprise.

RTV Oost reported that the trader's brother emailed customers a year ago to notify them that their monies were gone.

Due to victim persecution, the merchant fled after the aftermath. He was moved to a safe home with police.

Despite his absence, victims formed a nonprofit to investigate the money. Their efforts led to his arrest this week.

Authorities suspect the trader premeditated his conduct and are investigating him for fraud, embezzlement, and other offenses.

The fraudster allegedly took customers while hiding and the firm collapsed.

4-Transmit keys to $124 million bitcoin wealth requested from a Texas investor

The private keys to Bitcoin have been ordered to be relinquished by U.S. District Judge Robert Pitman to the early bitcoin investor Frank Richard Ahlgren III.

Because of the private key encryption approach, the owner of a bitcoin wallet has full control and access.

Judge Pitman further ordered Ahlgren and his proxies not to conceal digital assets or transfer cryptocurrencies. According to Bloomberg, the court's decision is meant to release over $124 million worth of digital assets that are thought to belong to Ahlgren and collect the $1 million in damages that the court has permitted, even if Ahlgren can pay his monthly costs with cryptocurrencies.

Following the formal sentencing of Ahlgren in late December, he became the first American citizen to be associated with a crypto tax evasion case. Federal prosecutors said the bitcoin investor knowingly failed to pay taxes and falsely declared capital gains from the sale of $3.7 million worth of bitcoin, leading to his indictment on seven charges.

Under the alias "Paco," Ahlgren allegedly used intricate financial schemes to obfuscate his blockchain fingerprint, as revealed by the Department of Justice.

Although Bitcoin's blockchain is public and immutable, some protocols can allow users to partly disguise their transactions, as highlighted in a statement by the Department of Justice at the time. Following a lengthy investigation and trial that spanned many months, the Texas District Court sentenced Ahlgren to two years in prison.