• Daily CEX crypto trade volume sinks to lows last seen in 2020
• Tether’s USDT sets new all-time high in spite of regulatory concerns
• Elizabeth Warren highlights crypto’s role in fentanyl trade; plans to combat with bill
Daily CEX Crypto Trade Volume Drops
Crypto exchange CEX’s daily trading volume recently hit its lowest levels since 2020. The drop is likely due to the recent market slump caused by a range of factors, such as increasing regulation and weak retail sentiment.
Tether’s USDT Sets New All-Time High
Despite regulatory concerns, Tether’s USDT reached a new all-time high market cap of $83.2 billion. This has been driven mainly by strong support from the Tron blockchain, which holds around half of the circulating supply of USDT. Tether also has substantial reserves on other networks like Binance Smart Chain, Polygon, Solana and Avalanche.
Jimbos Protocol Seeks Law Enforcement After Hacking Incident
The Jimbos Protocol suffered a hacking attack that resulted in the loss of over $800K worth of funds. Despite offering a large bounty for information leading to the hacker’s identity, they have not received any response and have now turned to law enforcement for help.
Elizabeth Warren Highlights Crypto Role In Fentanyl Trade
U.S Senator Elizabeth Warren highlighted how cryptocurrencies are contributing to the illegal fentanyl trade and announced plans to introduce legislation that would fight against this illicit activity. She proposed increasing government oversight by requiring more transparency from cryptocurrency exchanges and service providers.
MultiChain Struggles To Contact CEO
Multichain project is facing challenges after their CEO went missing without leaving behind any contact information or access keys for project servers. Without these resources it may be difficult for them to continue operating their services as normal, putting their future at risk until they can find someone else who can take over the project management duties effectively and securely.
