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Bitcoin broke above the $31,000 level on Friday, continuing its mid-June surge and building on its recent gains fueled by the biggest Wall Street institutions’ filing applications for the first spot Bitcoin ETF in the U.S.
The Securities and Exchange Commission is continuing its target against the world of crypto, suing the world’s largest crypto exchange Binance and its billionaire founder, Changpeng Zhao on Monday by alleging the company commingled billions of user funds and diverted those assets to an entity “owned and controlled” by Zhao.
Bitcoin soared past a crucial $30,000 level late Monday evening, reaching the highest level for the first time in 10 months and topping a key resistance zone.
JPMorgan Chase CEO Jamie Dimon ridiculed cryptos as a “complete sideshow” that are useless as “pet rocks” while bashing regulators for beating up on big banks instead of focusing on the growing crypto industry.
Cryptocurrency industry is looking to gain mainstream legitimacy — marking a new milestone for the ever-growing digital asset community with several companies flooding Super Bowl LVI with commercials to prove their high-profile merits to a mass audience that many still don’t understand the risky ventures.
President Biden is gearing up to issue an executive action to develop an initial government-wide strategy for digital assets within a matter of days that will put the White House at the central role in dealing with efforts to regulate the $2 trillion booming sector.
