Here's what happened in crypto today 🌎📈

Nigeria’s Central Bank Denies Claims of Crypto Account Freeze

The Central Bank of Nigeria (CBN) was forced to deny rumors that it issued a directive requiring banks to identify users of crypto exchanges and block their accounts for six months. Confusion arose when the CBN denied the report on X (formerly Twitter) and then deleted the denial, only to later reiterate that the claims were false. This follows the government's recent actions against crypto platforms due to the naira's swift devaluation and inflation, which has risen to 29.9%.

$9 Billion Mt. Gox Bitcoin Overhang Could “Spook the Market”

K33 Research analysts warn that over $9 billion worth of Mt. Gox-era Bitcoin could be released to creditors soon, potentially causing BTC's price to drop. After waiting more than 10 years, 127,000 creditors from the collapsed Mt. Gox exchange could see their Bitcoin and Bitcoin Cash returned in the coming weeks. While this doesn't necessarily mean selling pressure, the significant "overhang" of 142,000 BTC and 143,000 BCH could unsettle the market.

Tether to Freeze Assets of Entities Bypassing Venezuela Oil Sanctions

Stablecoin issuer Tether announced plans to freeze assets of any entity using USDT to bypass Venezuelan oil sanctions. This follows the U.S. Treasury Department's request to wind down transactions involving Venezuela's state-run oil company,

PDVSA, by the end of May. Tether respects the Office of Foreign Asset Control's (OFAC) sanctions list, ensuring that sanctioned addresses are frozen promptly. This move underscores Tether's commitment to compliance and regulatory oversight.

These developments indicate ongoing volatility and regulatory pressure within the crypto space. Stay informed and exercise caution in your crypto activities. ⏳⚖️#DailySupport $BTC $SOL