Bitcoin Plunges to $42,000 in Flash Crash

The Enforcement Directorate in India has seized $4.8 million in assets from a U.S. prisoner who scammed crypto investors through fake Coinbase websites. The agency froze properties and bank accounts connected to the individual, his relatives, and associates.

A former SEC official's warning about liquid staking potentially causing a crypto collapse has sparked debate on U.S. regulation of staking tokens. The official likened liquid staking to practices that led to Lehman Brothers' downfall, emphasizing the need for oversight in crypto.

A software limitation in Ledger hardware wallets is preventing some Cardano users from participating in the Midnight Foundation’s Glacier Drop due to the handling of message signing for Cardano. Despite the issue, Cardano developers are implementing a workaround to allow affected users to claim tokens.

The cryptocurrency market saw a slight decline of 1.38% to $3.7 trillion, with Ethereum layer-2 tokens leading gains. Mantle's MNT token stood out with an 8% increase today and 25% over the week, driven by its Web3 Ethereum treasury concept.

Galaxy Digital CEO Mike Novogratz revealed that the recent sale of 80,000 Bitcoin for a single client was swiftly absorbed by Bitcoin treasury firms due to high demand. Publicly traded companies like Strategy and Trump Media have been major buyers, contributing to the positive trend in crypto prices.

A trader missed out on a $36 million profit by selling his portion of the Solana meme coin TROLL last summer, which has since skyrocketed to $158 million in market capitalization. The coin experienced significant fluctuations, reaching a peak of $166 million in July.

Altcoin interest is increasing, with anticipation for a profitable altseason where capital flows from Bitcoin to other cryptocurrencies like Solana and XRP. Despite rising online interest, analysts believe the altcoin market lacks sustained capital rotation for significant breakouts.

Ponke, the 69th largest meme coin, is launching a plush toy with interactive elements and an NFC chip for rewards and proof of ownership. The toy, priced at $69, will be available for sale on the 223 site with limited supply.

MEXC Ventures has made a strategic equity investment in licensed Indonesian crypto exchange Triv, valuing it at $200 million. The investment reflects MEXC's focus on Southeast Asia and support for compliant local champions in the growing institutional crypto market.

SharpLink Gaming, a Nasdaq-listed company, purchased $264.5 million worth of Ethereum last week, increasing its holdings to 521,939 ETH valued at nearly $1.9 billion. The company's stock has surged by over 420% since May, reaching almost $19 per share.