This week in the crypto world was nothing short of eventful. The Altcoin Season Index hit a new high; the SEC Chairman made a bold statement about crypto regulations; Bitcoin broke the $80,000 mark; Binance reiterated its stance on sanctions violations; and two former Robinhood engineers faced insider trading charges.
Here’s a quick recap of these stories.
Altcoin Season Index Nears 50 as Crypto Fear and Greed Index Jumps
The Altcoin Season Index, which measures the performance of the top 100 coins relative to Bitcoin over the last 90 days, has been on a steady rise, reaching 48. This surge coincides with a rally in most altcoins, with NEAR Protocol, Tezos, Arbitrum, Uniswap, Ethena and Zcash all soaring by over 40% in the past week.
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SEC Chair Says Crypto Rules Are Coming ‘With or Without Legislation’
SEC Chairman Paul Atkins announced that the agency is committed to providing regulatory certainty to the cryptocurrency industry, irrespective of the fate of the CLARITY Act. Atkins expressed gratitude for the efforts of the government, Congress, investors, and innovators on the legislation, despite its failure to advance in a Senate procedural vote.
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Read Also: Ethereum at $2,400: Is a Deeper Correction Coming?
Bitcoin Breaks Above $80,000 as CoinShares Warns of a ‘Difficult Setup’
Bitcoin surpassed the $80,000 mark on Friday, despite CoinShares’ warning of a challenging setup heading into the year-end. CoinShares’ Head of Research, James Butterfill, noted that two developments could impact Bitcoin and other altcoins, particularly those that run much of the stablecoin payment infrastructure, like Ethereum.
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Binance Co-CEO Declares ‘Zero Tolerance’ for Sanctions Violations
Binance Co-CEO Richard Teng declared a “zero tolerance” policy for sanctions violations following the U.S. Justice Department’s pursuit of approximately $61 million in cryptocurrency, allegedly linked to black-market sales of sanctioned Iranian oil. The funds are suspected to have been laundered through Binance’s trading accounts by two Chinese companies, Blessed Trust and Hexa Whale.
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Former Robinhood Engineers Face Crypto Trading Charges
The Department of Justice charged two former engineers from Robinhood Markets, Inc. with commodities fraud and wire fraud. Hefu Chai and Huaisong Xiang are accused of misappropriating Robinhood’s “confidential business information” to trade perpetual futures on Hyperliquid ahead of public announcements.
Read the full article here.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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