Bitcoin Dips Below $29K, SEC Goes After PulseChain

Written by BTSE

August 1, 2023

Trending Tokens on BTSE:

24h %





(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.


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