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Crypto SWOT: New data shows that crypto-related crime has declined significantly

Commentaries & Views


  • Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was XRP, rising 67.41%.

  • Litecoin, over the past year, has outperformed the broader crypto market. One driver of the coin’s near-90% climb over the period was its so-called halving that will curb the supply of the token, a process that also lies ahead for Bitcoin in the coming months, writes Bloomberg.

  • Coinbase shares roared more than 24% higher on Thursday in the wake of a judge’s ruling on a case involving cryptocurrency tokens. This is fueling debate on Wall Street over what the decision means for Coinbase’s own regulatory headaches, writes Bloomberg.


  • Of the cryptocurrencies tracked by CoinMarketCap, the worst performer for the week was eCash, down 19.44%.

  • Dubai is reprimanding BitOasis, one of the largest crypto platforms focused on customers in the Middle East, for failing to meet mandated conditions set forth by the local regulator, writes Bloomberg.  

  • Argo Blockchain on Wednesday said bitcoin or bitcoin equivalents, mining production fell in June from May, due to network difficulties and issues at its mining facility in Texas, writes Bloomberg.


  • Coinbase Global gained as much as 13% on Tuesday, trading at its highest intraday level since August and extending a rally driven by optimism over the potential U.S. approval of a Bitcoin ETF, writes Bloomberg.  

  • A federal judge ruled that the Ripple Labs token is a security when sold to institutional investors but not the general public, a long-awaited decision that was widely hailed as a victory for the crypto industry over the SEC, writes Bloomberg.  

  • Crypto-related crime has declined significantly, according to data from Chainalysis. A new report from the analytics firm notes that daily crypto inflows into illicit services is down relative to previous years, writes Bloomberg.  


  • U.S. prosecutors charged a New York man with stealing millions of dollars in crypto after exploiting vulnerabilities on a decentralized finance platform. Shakeeb Ahmed took advantage of a flaw in one of the exchange’s smart contracts to insert fake pricing data generating about $9 million of inflated and unearned fess that he was able to withdraw in crypto, writes Bloomberg.  

  • U.S. prosecutors charged a Moroccan man with stealing $450,000 in cryptocurrency and nonfungible tokens, including two Bored Apes, by creating a fake replica of the OpenSea digital marketplace in 2021, writes Bloomberg.  

  • The ex-Celsius CEO Alex Mashinsky was arrested on Thursday morning and charged with wire fraud and other crimes, according to Bloomberg. He has been accused by U.S. prosecutors of pumping up the price of his firm’s cryptocurrency to entice customers to the platform.
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