Here's a summary of the week's top stories:
1. Bitcoin Breaks $60,000 After More Than 2 Years:
- Bitcoin surpassed the $60,000 mark for the first time in more than two years, gaining more than 6% on February 28. This price boost came from spot Bitcoin ETFs, which recorded heavy trading volumes.
2. US Government Does Not Seize Bitcoin After BTC Price Breaks $60,000:
- The US government transferred $922 million worth of Bitcoin from confiscated Bitfinex wallets in 2016. This event took place on the same day that Bitcoin broke the $60,000 mark.
3. Gemini Returns $1.1 Billion to Users in NYDFS Settlement:
- Cryptocurrency exchange Gemini has reached an agreement with the New York State Department of Financial Services (NYDFS) to return at least $1.1 billion to Gemini Earn program customers through bankruptcy proceedings Genesis.
4. BitForex Suspends Withdrawals and Unresponsive Users:
- Cryptocurrency exchange BitForex, headquartered in Hong Kong, has suspended withdrawals without giving a reason. Users reported problems with their accounts and the exchange did not respond.
5. FTX Founder SBF Requests Sentence Less Than 7 Years:
- Sam Bankman-Fried, founder of FTX, asked for a sentence of less than seven years after being convicted for multiple fraud and money laundering charges. He asked the prison guards and proposed measures to support the community and the environment.
6. Bitcoin and the Cryptocurrency Market:
- Over the weekend, Bitcoin price reached $62,069, Ether at $3,425, and XRP at $0.59. Total market capitalization is $2.31 trillion. Top altcoin gainers include dogwifhat (WIF), #PEPE (PEPE), and #Bonk (BONK), while Starknet (STRK), Bitget Token (BGB), and Worldcoin (WLD ) are the top losing altcoins.
