The crypto market tumbled as multiple hacks, Mt. Gox transfers, and German government sales triggered a 10% Bitcoin crash to $54,000, despite Justin Sun's offer to buy Germany's holdings.
Key Insights:
Last week saw massive crashes in Bitcoin and the broader market, largely due to sales by Mt. Gox and the German government.
The crypto space experienced over 20 hacks in June, including a phishing scam targeting the Ethereum Foundation.
The OpenTensor Foundation had to shut down the Bittensor network after a hack resulted in $8 million in stolen tokens.
Tron founder Justin Sun offered to buy the German government's entire Bitcoin holdings to "minimize market impact."
A massive $2.7 billion Bitcoin transfer from Mt. Gox sparked a mid-week crash, dropping Bitcoin by up to 10% to the $54,000 zone.