Bitcoin Dips Below $29K, SEC Goes After PulseChain

Written by BTSE

August 1, 2023

Trending Tokens on BTSE:

Asset
Price
24h %
$28,971.03
-1.68%
$1,828.05
-2.26%
$0.539
-13.48%
$0.68608
-3.06%

 

 

 

 

(as of  3:00 AM UTC, August 1, 2023) 

 

At the beginning of the day in Asia today, Bitcoin (BTC) and Ethereum (ETH) had continued on a minor downward trend overnight. Bitcoin dipped below US$29K for the first time in over a month, while Ethereum is also at its lowest point since June.

Analysts attribute these retreats in price to the ongoing Curve (CRV) DeFi crisis, where an exploit was discovered that resulted in a loss of around US$70 million in assets to users on the platform. Curve’s own token, Curve DAO (CRV), has taken the biggest hit however – down 13.48% compared to 24 hours ago.

In other news, USDT stablecoin issuer Tether has reported US$3.3 billion in excess reserves this quarter, an increase of US$850 million from Q2 this year. The company’s disclosure featured assets such as US Treasurys, including direct T-Bill investments and repurchase agreements.

The SEC raised charges overnight against the creator of the Hex token and PulseChain platform, Richard Heart – with allegations that the industry has grappled with a lot recently, such as offering unregistered securities – to more egregious allegations, such as defrauding investors, and using investor funds for personal goods & purchases.

 

Trade Bitcoin on BTSE here.

Trade Ethereum on BTSE here.

Join our Telegram news channel here.

 


Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at feedback@btse.com or on Twitter @BTSE_Official.

Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

Related Articles

Delisting Tokens for July

Delisting Tokens for July

As part of our ongoing commitment to maintaining the highest quality standards across our range of assets and services, we regularly undertake...

Stay Informed with BTSE

Join Our Newsletter

Never miss a beat with the latest updates and industry insights from BTSE.

Follow Us

Join our rapidly growing community and exclusive events!