Crypto News Today: Crypto Market Crash and Ongoing Trends Now
Know What Happened in Crypto Market Today: Key Market Insights
Kazakhstan Blocks 3,500 Illegal Crypto Exchanges
Kazakhstan has intensified its crackdown on illegal cryptocurrency operations, blocking over 3,500 exchanges, including Coinbase, for violating digital asset laws. In 2024, the Agency for Financial Monitoring (AFM RK) shut down 36 illegal platforms with a turnover exceeding $113 million and seized assets worth 4.8 million USDT. Authorities dismantled two crypto pyramid schemes, freezing 120,000 USDT and returning 545,000 USDT to victims. Collaborating with international partners, Kazakhstan aims to enhance crypto transaction monitoring and combat illicit financial activities.
Ripple and Chainlink Drive RLUSD Stablecoin in DeFi
Ripple’s RLUSD stablecoin is set to enhance DeFi by integrating Chainlink’s decentralized oracle network, ensuring accurate price feeds and data reliability. This collaboration aims to boost RLUSD’s adoption across decentralized applications, lending protocols, and liquidity pools. Brad Garlinghouse, Ripple’s CEO, calls RLUSD the "gold standard" for payments, while Chainlink’s Sergey Nazarov highlights the partnership’s potential to accelerate blockchain innovation. With this integration, RLUSD is poised for increased stability and seamless use in DeFi platforms.
Kiyosaki Predicts Market Crash, Stays Bullish on Bitcoin
Robert Kiyosaki, author of Rich Dad Poor Dad, reiterates his long-predicted market crash, citing past actions by leaders like former Fed Chairman Ben Bernanke. He links the downturn to issues in key sectors such as housing, retail, and the auto market. Despite the bleak outlook, Kiyosaki remains optimistic, recommending investments in real assets like gold, silver, and Bitcoin. He encourages investors to seize opportunities as these assets become more affordable, stressing the potential for wealth accumulation during market crashes.
Bhutan Adds Bitcoin, Ethereum, and BNB to Strategic Reserves
Bhutan’s Gelephu Mindfulness City (GMC) has announced its decision to include Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and other major digital assets in its strategic reserves. This move positions GMC as one of the first jurisdictions to hold cryptocurrencies in its reserves. The city will focus on purchasing assets with substantial market capitalization and liquidity, while also evaluating other secure, stable blockchain-based assets. GMC will ensure that all on-chain transactions are closely monitored to maintain security and transparency.
Hyperliquid's Growth and Future Prospects
Hyperliquid, a leading layer-1 blockchain, has gained significant traction, capturing 70% market share in perpetual futures exchanges and handling $260M in daily transactions. The successful HYPE token airdrop has pushed its valuation, with HYPE increasing by 500% since its November launch. However, asset manager VanEck warns that to justify this lofty valuation, Hyperliquid needs to attract a robust developer community. Future plans include launching an Ethereum Virtual Machine smart contract platform to diversify revenue streams.
