Bitcoin momentarily surpassed $64,000, putting it within 5% of a new all-time high, but it has since retraced slightly and is presently trading around $63,000. Most altcoins have gone on a tear, with Solana leading the way with a massive double-digit gain to a new all-time high.
According to CoinDesk, ether, the second-largest crypto and tied to the Ethereum network, declined 1% to $4,555, while dogecoin fell 1% to $0.26.
Senator Andrew James Bragg of New South Wales, Australia, has stated that cryptocurrency aficionados in the country are keen for legislation governing their activities. After stealing more than $3 million in a matter of seconds, the masterminds behind the Squid rug pull are certainly living the high life. Binance, on the other hand, is doing everything it can to ensure that their celebration is short-lived.
The crooks are being pursued by Binance, the world's largest bitcoin exchange platform. According to Barron's, an intelligence team is inspecting the blockchain and gathering material to pass over to police and assist in the arrest of the scammer.
Since October, several blockchain tokens, including bitcoin and ether, have risen due to a steady stream of news on cryptocurrency adoption by banks, the growth of nonfungible tokens on virtual gaming platforms, the launch of bitcoin futures-based U.S. ETFs, and a need among investors for diversification in an uncertain interest rate environment.