CryptoCryptocurrency

The sharp crypto selloff that wiped about $250 billion from total market value over the weekend is being driven by a shortage of US liquidity rather than any crypto-specific weakness, according to analyst Raoul Pal.

The chief executive of Russian bitcoin mining firm BitRiver has been placed under house arrest as authorities pursue tax evasion charges, according to local media reports.

XRP extended losses below $1.60 after failing to hold above $1.80, putting the $1.50 support level under renewed pressure.

Ethereum fell about 20% after failing to hold above $2,500, with price now struggling to defend the $2,200 support level.

Bitcoin fell sharply below $80,000 after failing to hold gains above $82,500, putting the $70,000 support level back into focus as downside pressure builds.

Tenbin Labs said it has raised $7 million in a seed funding round led by Galaxy Ventures to build institutional-grade infrastructure for tokenised assets.

The European Commission has opened infringement procedures against multiple member states for failing to implement new EU rules on crypto-asset taxation and market oversight.

FLock.io and Blockchain for Good Alliance said they have signed a partnership to collaborate on decentralised AI, blockchain and public-benefit initiatives, expanding the group’s focus to “Blockchain and AI for Good.”

Fipto said it has been granted a Crypto-Asset Service Provider licence by France’s markets regulator, making it the first European stablecoin payments firm to hold both a Payment Institution and full CASP authorisation.

Nomura said it has scaled back cryptocurrency exposure and tightened risk controls after losses at its European digital asset unit weighed on quarterly results.

Grayscale Investments said smart contract platforms are becoming core infrastructure for Web3, moving beyond simple cryptocurrency transactions into decentralised applications such as lending, payments and asset tokenisation.

JPMorgan said gold prices could climb beyond $8,000 an ounce as private investors and central banks increase allocations amid persistent global uncertainty.