Cardano’s IOG and Solana groups have aggressively reaffirmed their decentralized character and rejected being classified as securities in reaction to the current authorized prices issued by the US SEC in opposition to Binance and Coinbase International, two renowned cryptocurrency platforms.
The ongoing discussion about how to regulate crypto assets under US securities law has been further heated up by these developments, which has added to the overall gloomy mood in the market. Bitcoin miners have also witnessed an increase in liquidation fees.
Important Bitcoin Breakout Moving Forward
Despite the prevalent adverse attitudes, since mid-March of this year, the price of Bitcoin has consistently moved above the 200-week moving average (WMA). However, the trading instrument has now come close to critical levels and is ready to withstand either a lengthy or brief breakout.
According to a renowned crypto expert who was recently featured in a YouTube video by CryptosRUs, Bitcoin’s value might increase by 60% from its current values, probably hitting $40,000 by July.
Double Down on Crypto Investments: Cathie Wooden’s Ark Make Investments
Notably, despite the present pricing set forth by the SEC, Cathie Wooden and her fundraising fund Ark Make Investments have increased their cryptocurrency holdings. As of the now, Ark Make Investments proudly owns up to 420,000 shares of Coinbase International after purchasing 22 million shares recently.
Related: Cathie Wooden Sees Coinbase Benefiting from Binance’s Authorised Issues – cryptomuskn Fintech News
Participation of US Authorities in Crypto
The US government has generally relied on sites like Coinbase for the liquidation of digital property because it has seized significant amounts of Bitcoin through operations like the takedown of Silk Street. Despite the Biden administration’s tough stance on cryptocurrency businesses, the country continues to be a significant global center for Bitcoin miners.
The US government may be using this increased inspection of major cryptocurrency companies as a tactical move to deter scammers from operating in the space, including on platforms like FTX and Alameda.
