Bittrex Seeks Refund of $24 Million Penalty After SEC's Shift on Crypto Regulations

Bitcoin has reacted to the escalation in the Middle East, with U.S.-led strikes on Iranian targets causing concerns about a wider regional conflict. Despite the conflict, Bitcoin's price has only dropped 1.3% to $65,760, showing resilience compared to equity-index futures.

Bitcoin, after peaking above $69,000, dropped over 3% to nearly $65,000 on Friday as stocks dipped. Ethereum, XRP, and Solana also experienced significant drops in price. Meanwhile, gold saw a 1.4% increase as investors sought safe haven assets.

Magic Eden will cease support for Ethereum-compatible and Bitcoin-based assets, including those minted on networks like Polygon and Base, as well as Bitcoin Ordinals and Runes meme coins. The company will focus on supporting assets within Solana's ecosystem moving forward.

Trump Media and Technology Group plans to spin off Truth Social into a separate public entity, merging with Texas Ventures III. The move aims to create shareholder value through distinct strategies for each company. Details on the fate of Trump Media's crypto initiatives remain unclear.

Transactions on Bitcoin's Lightning Network are increasing, with larger transactions being processed regularly. The network, initially intended for microtransactions, is now facilitating significant transfers, such as a recent $1 million transaction by Kraken.

Ripple aims to diversify funding for XRP Ledger development through a new FinTech Builder Programme, university partnerships, and venture capital support. The company seeks to create a more distributed model for ecosystem funding to support builders.

South Korea's National Tax Service mistakenly published seed phrases in a press release, allowing an unidentified individual to steal $4.8 million worth of tokens. The incident led to the return of the tokens after being transferred to an Ethereum address ending in "86c12."

Legislation introduced in Minnesota aims to ban crypto ATMs due to increasing scams targeting the elderly. The bill, HF 3642, follows a 2024 state framework imposing transaction limits and refund requirements to address risks associated with these machines.

Adam Weitsman's X account was hacked to promote a fake forex trading course and a phony "Clawed Ape Yacht Club" memecoin. The account was recovered by an associate after suspicious activity was detected, including sharing scams promising high returns.

The U.K. Gambling Commission is considering allowing crypto payments for licensed betting operators to combat illegal markets and promote innovation. Executive Director Tim Miller highlighted the growing consumer demand for crypto and the need to address the issue of players being driven to unlicensed sites.