Here are the top 5 crypto news for the day!
Let's dive into the news headlines one by one and see how they'll be affecting the crypto space as we know it, in the coming days.
Grayscale Bitcoin Trust's situation is deteriorating for its investors, as the trust's shares are now priced at a record low price in relation to the value of the digital assets it owns. Since last Friday, the $35 billion funds have lost nearly a fifth of their value, while Bitcoin has fallen from record highs.
The decline in the Grayscale Bitcoin Fund's value has widened the gap between the share price and the underlying value of the BTC assets to approximately negative 19% as of Thursday's closing prices.
The specifications and Ethereum extracting results of the GeForce RTX 3080 Ti were recently leaked, just one day after a report detailing the card's price and anti-mining measures was released. NVIDIA has clearly selected the GA 102-225 GPU, which under ideal conditions can achieve up to 118.9 MH/s.
After going quiet for a few weeks in April, GeForce RTX 3080 Ti leaks are starting to surface again. Last week, someone photographed an RTX 3080 Ti shipment, and ITHome has outlined the upcoming card's pricing and anti-extracting steps.
Crypto Custodian BitGo Wins $4.5M Contract With The US Marshals to Help Seized Bitcoin
The US Marshals have signed a $4.5 million deal with the cryptocurrency custodian BitGo to assist in the management of confiscated Bitcoin, according to a new revelation. BitGo, a cryptocurrency prime brokerage, recently signed a deal with the US Marshals Service to help the law enforcement agency store and sell crypto assets confiscated in criminal cases.
Continuing the conversation about the contract, the length of the deal, which is worth over $4.5 million, is unknown. The Palo Alto Firm, on the other hand, is expected to manage tens of millions of dollars in the penalised cryptocurrencies.
Ki Young Ju, the CEO and founder of crypto analytics company CryptoQuant, has explained why Bitcoin's price has fallen below $50,000. According to Ju's study, the pullback is not caused by the latest US tax plan, contrary to common belief.
Ki Young Ju took to social media to express his dissatisfaction with Bitcoin's recent price drop below $50,000. Despite the current situation, he believes the fundamentals of the most famous cryptocurrency remain powerful.
The price pullback, according to Ki Young Ju, is the product of a deep price reversal and over-leveraged long positions on cryptocurrency exchanges.
The South Korean government has confiscated $22 million in cryptocurrencies belonging to tax evaders. The National Tax Service office in Seoul has listed 1,566 individuals and company heads who owe back taxes as part of the investigation.
Following that, the regulatory agency seized $22 million in digital currencies owned by 676 of them on three cryptocurrency exchanges. The Seoul city government has listed 1,566 people, many of whom are company heads, for storing their cryptocurrency holdings in three cryptocurrency exchanges, according to a study by the Yonhap News Agency.