Bitcoin, Ethereum See Record-Breaking $3.85 Billion Flow Into Digital Asset Funds Last Week

Four Russian nationals have been charged with money laundering and operating unlicensed money transmission businesses for their involvement in cryptocurrency mixing services Blender.io and Sinbad.io. The indictment alleges their responsibility for laundering funds from illegal activities, including high-profile transactions through the mixers.

U.S. interest rate concerns led to a red financial market on Monday, causing Bitcoin to drop to nearly $90,000, its lowest since November. Bitcoin is down over 4% in a day and nearly 9% in a week, now at $90,700.

The bitcoin ecosystem has reached a new mining difficulty adjustment high of 110.45 trillion, making it 110.45 trillion times harder than at its genesis block. This marks the eighth consecutive positive adjustment, increasing pressure on miners to compete for rewards.

Scott Bessent, the Treasury Secretary nominee, is preparing to divest assets, including his stake in BlackRock’s Bitcoin ETF, following Federal ethics guidelines. Bessent's portfolio, worth $521 million, includes various investments like U.S. Treasury bills, ETFs, and commodities. Questions arise about whether he will divest from IBIT.

Polymarket, a crypto predictions platform, has been blocked by Singapore's gambling regulator for operating as an "illegal gambling site" without a license. The platform's complex regulatory history includes a $1.4 million settlement with the CFTC in 2022 and recent scrutiny from the U.S. Commodity Futures Trading Commission.

Resolution 3001 introduced by North Dakota State Legislature aims to diversify state investments by including digital assets. The resolution, if passed, would direct the State Treasurer to allocate funds for digital asset investments.

Heritage Distilling, a Nasdaq-traded spirits firm, plans to adopt Bitcoin as a strategic asset and for payments, following in the footsteps of other public companies like MicroStrategy. The company's CEO stated they are recognizing the growing number of consumers using Bitcoin regularly.

Abstract, a consumer-focused blockchain by Igloo Inc., aims to engage Web3 users with fun applications. The Ethereum layer-2 network plans to revolutionize blockchain interaction dynamics. Here's how you can get prepared for the network launch.

New Hampshire Rep. Keith Ammon proposed a bill allowing the state Treasury to invest in digital assets and precious metals, citing protection against inflation and alignment with state values. The bill would permit investments in assets like Bitcoin and precious metals, capped at 10% of public funds.

A proposed rule by the Consumer Financial Protection Bureau aims to regulate digital asset wallets as financial institutions, holding them accountable for fraudulent transactions. The rule, subject to public comment, is met with criticism from crypto policy leaders.