Crypto News: Bitcoin Dips Below $70K, Core Glory Continues

Cryptocurrency gained significant momentum over last 24 hour

TOP 5 Gainers Coins

Crypto News Key Highlights:

• Tinkoff , a leading Russian bank, obtained a license to issue and utilize Digital Financial Assets (DFAs). Coin Gabbar reported its addition to the Central Bank of Russia's approved DFA operators list. This move followed Sberbank's launch of a DFA Trading Platform, prompting Tinkoff to seek inclusion in the DFA register. Russia's increasing efforts in digital financial assets aim to mitigate economic sanctions, fostering wider cryptocurrency acceptance globally.

• Bitkub Capital Group Holdings, Thailand’s top crypto exchange owner, plans an IPO in 2025 amid tough competition from Binance and Kasikornbank Pcl. Regulatory shifts and strategic divestments signal its determination to stay ahead and secure growth funds.

• OpenAI expands into Asia, launching its first office in Tokyo, Japan. The move aims to provide tailored AI services and assist in shaping regulatory frameworks amid global AI demand. This marks OpenAI's third international expansion after London and Dublin. Japan's innovative approach to AI regulation makes it an attractive market for OpenAI's growth.

• In March, over $187 million in digital assets was lost in 30 hacking incidents, with $98.8 million recovered, PeckShield reports. Munchables led in losses, but the hacker returned $97 million. Prisma Finance's $11 million hack might see recovery talks. Curio's breach incurred losses of $40 million, ranking second in March.

• Analysts anticipate a 48% drop in Coinbase's Q1 2024 GAAP EPS despite the crypto market's bullish trend. Revenue growth is projected at 54% YoY in 2024, with EBITDA surging 120% YoY. However, net income may decline by 36% in 2025. Despite recent profits, transaction revenue and trading volumes have declined year-on-year.

• Russian intermediaries exploit cryptocurrencies, notably Tether, to evade Western sanctions, facilitating arms procurement. Andrey Zverev orchestrates transactions, converting rubles to crypto for Russian firms to trade globally. The US Treasury blacklists firms involved, signaling concerns over cryptocurrency's role in circumventing sanctions, urging tighter regulations.

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Also read - Crypto News March 31: BTC and ETH Prices Hit a Roadblock