World stock markets shaken as the United States faces fresh inflation rate as never seen in the past four years.
After seven months of surging an all time high, Bitcoin stairs panic into the cryptocurrency space as it falls under $22,000. The world Crypto Asset Managers has also given out press releases affecting notion and transactions.
Due to the sudden down thrust, Celsius Network has automatically paused all withdrawals and this is certain to be emulated by other exchangers. Already, Binance is rumored to have also suspend Bitcoin withdrawal. To make withdrawals, users ought to alternate to other exchange platforms.
Market Evaluation Drops under $1.0 trillion
On Monday, data aggregator CoinGecko revealed the crypto markets is now valued below $1.0 trillion. This is coming after a seven months throwback of sitting at $3.0 trillion. Greed index has also pointed downwards as fear raves the air.
Despite criticism, Central African Republic and El Salvador has continued to surmount confidence in the future of Bitcoin. Central African Republic and El Salvador has adopted Bitcoin as a legal tender.
SEC and BTC Regulations
The United State Securities and Exchange Commission (SEC) has sent letters to multiple crypto exchanges requesting a documented report on the lack of Insider Trading Safeguards. FOX Business Journalist, Eleanor Terrett reported that this might be centralized down to SEC striving to protect investors. With increasing rumors of insider trading in the crypto space. SEC requested a full data report on financial data with pressing allegations on trading against customers.
Conclusively, Binance falls under the SEC Monitor radar as investigations if it staffs are engaging in insider trading or acting as a truly global exchange platform.