Recent Developments in the Crypto World
Samourai Wallet Founders Arrested
The founders of privacy-focused bitcoin wallet Samourai Wallet have been arrested and charged with money laundering violations. The U.S. Department of Justice (DOJ) filed charges against Keonne Rodriguez and William Lonergan Hill for their alleged involvement in facilitating over $100 million in money laundering through their crypto mixing service.
Impact on Bitcoin Wallet Providers
In response to the action against Samourai Wallet, several bitcoin wallet providers have chosen to exit the U.S. market. This includes zkSNACKs, the creator of Wasabi Wallet, and ACINQ, the developer of PhoenixWallet, who have both made the decision to block or remove their services from U.S.-based users.
Consensys Legal Battle with SEC
Blockchain technology company Consensys has initiated a lawsuit against the Securities and Exchange Commission (SEC) regarding the potential classification of ether as a security. Consensys argues that such a classification could hinder the use of the Ethereum blockchain in the U.S. and impede technological innovation in the crypto space.
Stripe’s Return to Crypto Payments
Payments provider Stripe has announced its reentry into the cryptocurrency payments arena. Customers will now be able to accept cryptocurrency payments, starting with the USDC stablecoin via the Solana, Ethereum, and Polygon networks. This move marks Stripe’s comeback to crypto payments after discontinuing Bitcoin support in 2018.
Market Analysis Post Bitcoin Halving
Despite expectations of a price surge following the recent bitcoin halving event, market data shows that inflows into spot bitcoin exchange-traded funds (ETFs) have mostly been negative. Analysts are closely monitoring the relationship between ETF inflows and bitcoin prices, anticipating a significant impact from ETFs on future price movements.
