💀 Bloodbath on Satoshi Street! Bitcoin is sinking fast, with prices plunging to $89K after January’s peak of $108K! Investors are in panic mode, pulling millions out of U.S. spot Bitcoin ETFs.

📉 Massive ETF Outflows!
On Feb. 24, U.S. spot Bitcoin ETFs recorded $517M in outflows—the largest in 7 weeks! This marks 5 consecutive days of withdrawals, shaking the market:
🔻 BlackRock’s IBIT: - $159M
🔻 Fidelity’s Wise Origin Bitcoin Fund: - $247M
🔻 Bitwise, Invesco, & Grayscale: Heavy losses!

With the wave of selling, Bitcoin dropped over 5% to $91K and then further crashed to $89,175, losing 2.25% in just one hour!

🔥 Hold or Sell?
🔹 BitMEX co-founder Arthur Hayes warns that Trump’s tariff policies could trigger a Bitcoin drop to $70K.
🔹 Hedge funds are unwinding their “basis trade”—a strategy where they short Bitcoin futures on CME while holding Bitcoin ETFs.
🔹 As Bitcoin crashes, their profits shrink, forcing them to dump ETF shares and buy back CME futures, pushing prices even lower.

📉 Bitcoin Could Drop to $70,000!
💥 A chain reaction is underway—selling triggers more selling, forcing even more funds to exit!
💬 Markus Thielen (10x Research) suggests that most ETF demand came from hedge funds, not long-term investors.
🔻 If the futures premium continues to decline, hedge funds could be forced to dump ETFs, causing another massive sell-off!

⚡ Bitcoin at a Turning Point!
🔹 Bitcoin soared past $100K after Trump’s election win, driven by speculation about a Bitcoin strategic reserve.
🔹 But now, ETF investors are fleeing, hedge funds are exiting, and Bitcoin is struggling to find new buyers.
🚀 The market desperately needs new ETFs to inject fresh capital! With the SEC showing interest, a new batch of ETFs could soon hit the market—Bitcoin’s last hope for recovery!

📊 Will Bitcoin survive this crash, or are we heading straight to $70K? Let me know your thoughts! ⬇️
#altcoins #bitcoin #news #Write2Earn
$BTC

Permanent link to article: okx pleads guilty to illegally processing $1 trillion in U.S. transactions and agrees to pay a $504 million fine after years of evading regulations.

Court documents show #OKX knowingly allowed U. S. users to trade and ignored anti-money laundering laws.
OKX did not track transactions or enforce the law until the end of 2023, resulting in more than $5 billion in suspicious criminal transactions passing through OKX.
Line_break OKX has been operating since 2017. Seychelles-based exchange OKX, operating since 2017, admitted today, Monday, to conducting unauthorized money transfer business in the U. S.
the crypto platform agreed to pay more than $504 million in fines, becoming the most offshore cryptocurrency exchange to do so since its historic settlement with #Binance last year. This is the largest enforcement action
Judge Katherine Polk Faira found that OKX willfully violated anti-money laundering (AML) laws and allowed more than $5 billion in criminal transactions to pass through its platform, the Justice Department said in a statement.
The plea deal announced by Acting U. S. Attorney Matthew Podolski and FBI Deputy Director James Dennehy confirms that OKX ignored federal regulations for years and processed more than $1 trillion in transactions from U. S. users.
From 2018 through early 2024, OKX actively solicited U. S. users, including large institutional traders, and received hundreds of millions of dollars in transaction fees.
For more than seven years, OKX knowingly violated anti-money laundering laws and evaded implementing policies necessary to prevent criminal abuse of the financial system AND evaded implementing policies necessary to prevent criminal abuse of the financial system, Podolsky said in a statement. As a result, OKX was used for questionable transactions that generated more than $5 billion in criminal proceeds.
For years, OKX actively solicited customers in the U. S. , including here in New York, in clear violation of U.

Read us at: Compass Investments
#CryptoNews #news #GlobalCrypto

In this article:President Trump calls on Musk to be more aggressive in cutting government inefficiencies, praising DOGE's efforts.

While Musk is carrying out President Trump's inaugural order, federal employees are facing job cuts and demanding accountability reports.
#DOGE is reporting $55 billion in savings, mostly from DEI cuts, contract cancelations and USAID staff reductions.
On Monday, Department of Government Efficiency (DOGE) co-founder #Elon Musk ignored President Donald Trump's executive order. He warned employees who received one month's notice to return to work. He announced this on his social network X, urging those who continue to resist personal presence in the workplace to go on administrative leave this week.
President Donald Trump called on Elon Musk to step up cost-cutting measures in the federal government, saying that the billionaire
millionaire urged him to "more aggressively" cut wasteful spending and inefficiencies.
In comments Trump posted on Truth Social on Saturday, he praised Musk's work at the head of the Government Efficiency Office (DOGE) but said more needs to be done. LINE _BREAK "Elon is doing a great job, but he needs to be more proactive. We have to save our country, but remember, in the end we have to make it greater than ever before.
'MAGA! ', Trump wrote. '
A few hours later, Musk responded on Site X, writing, "Absolutely, Mr. President! .
President Trump asks Musk to be 'more aggressive' on DOGE cuts; Musk responds - federal employees are in trouble
According to FOX News, the reorganization of the federal work system began on Jan. 20, President Trump's first day in office, and "as soon as practicable.
He signed an executive order requiring all federal employees to return to full-time work "as soon as practicable.
The order required department heads to stop working remotely and stay in the office full-time.

Read us at: Compass Investments
#news #Crypto2024 #CryptoAdoption

Elon Musk has once again shaken things up—this time, in the U.S. government! The billionaire entrepreneur has issued a bold challenge to federal workers: “Explain what you did last week, or you’re fired!” 😱🔥
📩 The Memo That’s Changing Everything
After Musk’s announcement on X (formerly Twitter), a leaked memo from the Office of Personnel Management (OPM) confirmed that all federal employees must submit a list of five specific tasks they completed last week—before Monday at midnight. 🕛❌
And no, classified work doesn’t count!
This comes as part of a new initiative under Musk’s Department of Government Efficiency (D.O.G.E.), a project backed by President Donald Trump aimed at cutting waste and inefficiency. 🇺🇸
🔥 A Familiar Playbook: Musk’s Hardcore Management Style
If this sounds familiar, it’s because Musk did the exact same thing when he took over Twitter (now X)—forcing employees to justify their roles or be let go. Now, he’s taking that strategy to Washington, D.C.
Trump, who seems to love Musk’s aggressive approach, posted on Truth Social, saying:
“DOING A GREAT JOB, BUT I WOULD LIKE TO SEE HIM GET MORE AGGRESSIVE.”
💥 Massive Layoffs & Government Shake-Ups
Musk’s D.O.G.E. team has wasted no time slashing budgets, canceling contracts, and shaking up the federal workforce:
✔ 200,000 employees ordered back to the office—or resign 🏢❌
✔ 77,000 workers actually quit 😳
✔ Five senior Pentagon officials fired on Friday ⚔
✔ 5,400 Defense Department workers are next in line 😬
📉 What This Means for the U.S. Economy
With up to 300,000 government jobs at risk, this could be the largest mass firing in U.S. history! Experts predict:
✔ Over 75,000 employees accepted buyout deals, staying on payroll until September 💰
✔ Even 200,000 layoffs would only shrink the U.S. GDP by 0.1%, unlikely to cause a recession 📉
✔ Jobless claims in D.C. have already jumped by 36% 📈😬
🗳 Fair Reform or Complete Chaos?
Musk even asked his X followers:
“Should all federal employees send a short email with bullet points on what they did last week?”
Labor unions are furious, with Everett Kelley, president of the American Federation of Government Employees, calling Musk’s policy “cruel and disrespectful.” 😡
Meanwhile, supporters argue this could eliminate waste and make the government more accountable.
😂 Let’s End on a Lighter Note
If government employees are panicking, imagine the aliens at Area 51 trying to explain their week:
✅ Studied human behavior 🛸👽
✅ Dodged government whistleblowers 🤫
✅ Helped Elon Musk build his next spaceship 🚀
🤔 What Do You Think?
Should government employees prove their worth every week, or is this a recipe for disaster? Drop your thoughts in the comments! 🔥👇
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