Bitcoin hits new heights while fugitive CEO gets hit with a $3.4B fine in historic fraud case.
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Bitcoin has recently recorded the highest number of transactions processed to date.
Fugitive CEO Fined $3.4 Billion in Record Fraud Case Involving Bitcoin
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Bitcoin has recorded the highest number of transactions processed to date.
Bitcoin has shattered its previous record for daily transactions, which was set during the 2017 bull run, by a significant margin.
Get ready to buckle up as the Bitcoin madness is back! Thanks to the renewed interest in Ordinal Inscriptions, Bitcoin transactions are on a roll. The latest report from Glassnode shows that daily transactions are nearing peak levels, with the 30-day moving average at 348,700 transactions. That’s almost as high as the 2017 peak of 379,000 transactions per day on average.
But wait, there's more! The actual daily transaction count has spiked to 426,814 on April 30, according to Blockchain.com. That's a whopping 70% increase since the start of the year.
Looks like Bitcoin is breaking its own records and reaching new heights. So, fasten your seatbelts and join the ride as we witness the resurgence of Bitcoin and the cryptocurrency market.
“Ordinal Inscription Revival” ???
Introducing Ordinals - the latest addition to the Bitcoin world that allows audio, art, and even video games to be inscribed to individual satoshis. This results in a unique digital asset similar to an NFT on Ethereum, but with data hosted entirely on the Bitcoin blockchain.
The Bitcoin network is buzzing with activity, thanks to the craze for ordinal inscriptions. According to Glassnode, inscriptions now make up around 30-40% of mined transactions and 10-20% of fees paid.
According to Glassnode, over 2.39 million Ordinals have been inscribed to date, causing a significant shift in Bitcoin mempools. So, get ready to witness the rise of Ordinals and their impact on the cryptocurrency market.
Looks like the world of cryptocurrency is never short of surprises!
South African Mirror Trading CEO fined $3.4B in US Bitcoin forex fraud case.
The case represents the CFTC's highest civil fine and largest Bitcoin fraud case.
A South African Bitcoin pool operator got in hot water with the CFTC for running an unlicensed commodity pool scheme.
Mirror Trading International's CEO has been ordered to pay $3.4 billion in restitution and penalties, which is the highest civil monetary penalty ever ordered by the CFTC. The charges were brought against him after he accepted over 29,000 BTC from 23,000 Americans, which was valued at over $1.7 billion at the time of acceptance. The CEO is currently detained in Brazil, while MTI undergoes liquidation in South Africa.
MTI liquidates as its head faces $3.4B fines and penalties for fraud charges by the CFTC. Steynberg, the accused, is a fugitive from South African law enforcement and detained in Brazil. The CFTC holds MTI liable for multiple charges and finds Steynberg permanently prohibited from registering with the watchdog or trading in its regulated markets