Recession Fears Criminal Crypto Crackdowns BTC Miami Elon Twitter & More

 

Criminal Crypto Crackdowns

Criminal Crypto: last week authorities in Germany and the united state's crypto cracked down on two criminal enterprises that were using cryptocurrency as part of their operations

the first was the infamous hydra darknet marketplace which accounted for a whopping eighty percent of the online underworld economy

 as part of the crackdown, Germann authorities confirmed that they had seized at least 25 million dollars in BTC from hydra's henchmen

 it's possible if not likely that this figure will increase as hydra is believed to have processed over five billion dollars in crypto transactions since 2015.

across the pond, our authorities seize at least 34 million dollars of unspecified cryptocurrencies which were allegedly being used to launder darknet marketplace money

what's crazy is that this crypto crackdown took place in Miami shortly before the beginning of the bitcoin conference which I’ll get to in just a moment

 if you've been keeping up with the crypto headlines lately you might have noticed that there's been a significant number of criminal crypto seizures since the start of the year

now if you're wondering what's going to happen to all this seized crypto well history suggests that most if not all of it will eventually be sold at auction to institutional investors

 as far as I can tell it looks like there's been a lot of competition on that front because entities like MicroStrategy and terror's luna foundation guard have recently been buying BTC by the boatload

this has contributed to the massive decline of BTC held by exchanges and BTC reserves may be BTC starting to run low for institutions that are looking to buy over the counter from these exchanges

Elon Musk buys 9% stake in Twitter

 Tesla CEO Elon musk's apparent takeover of Twitter after he purchased a 9.2 stake in the company

 if you've been keeping up with my weekly crypto reviews you'll know Elon had pushed a poll on Twitter in a march asking whether the platform adhered to the principles of free speech to which 70

a few days after Elon announced his epic purchase twitter's recently seated CEO Parag Agarwal announced that Elon had been appointed to its board of directors

 this means Elon will have a big say in how Twitter is run and he responded to Parag’s tweet with a quote looking forward to working with Parga and the Twitter board to make significant improvements to Twitter in the coming months

now I must say that some of the responses from the crypto community were seriously comical

many of the memes implied that Twitter as a whole isn't all that happy about Elon’s imposing presence and subsequent reactions from select Twitter employees suggest this is the case

interestingly though twitter stock saw an impressive pump in response to all this news suggesting that the average investor is in favor of scaling back some of the censorship creep we've seen on social media over the last few years which wouldn't be all that surprising

 also unsurprisingly dogecoin saw an impressive pump too and it's been popping off in response to every tweet from Elon related to his Twitter shenanigans especially since he's been openly pondering pushing for doge as a payment option for twitter's monthly subscription service

 although there's been lots of speculation about whether Elon will try the same tactics with other tech giants such as Facebook this is objectively unlikely

note that the viral screenshot you may have seen which features Elon asking mark Zuckerberg if he can buy Facebook was unfortunately confirmed as fake

more importantly, Elon isn't the only shareholder around this part of Twitter town massive asset managers like Blackrock and vanguard also hold a significant stake in the company