$429,000,000 in Bitcoin and Crypto Liquidated in Just 24 Hours As Powerful Law Enforcement Agency Targets Ethereum
March 11, 2023 9154 by adminWith a tough law enforcement agency looking at ETH, hundreds of millions of dollars worth of BTC and other data encryption assets have been liquidated in the past 24 hours.
According to Coinglass, 137969 traders have just cleared $429 million, and most have lost their bets on BTC and ETH, which have liquidated $141 million and $110 million respectively.
->Other well-known data encryption assets affected include blockchain intelligent contract service platform Solana (SOL), Bitcoin replacement Litecoin (LTC), Meme assets Dogecoin (Doge), Layer-2 Scaling Solution Polygon (Ma Jiqi), Oracle text service provider Chainlink (LINK) and XRP.
At the time of writing, Bitcoin and ethernet traded at $19935 and $1406, respectively, down more than 6 per cent in the past 24 hours.
As the market plummeted, the Biden administration and the New York State Attorney General launched an attack on login password assets and users.
In a lawsuit filed with the New York City Supreme people's Court on Thursday, ETH was labeled as a securities by New York State Attorney General Letitia James (Letitia James). The Biden administration has proposed a new tax on Bitcoin mining, after previous regulatory pressures led to the collapse of Silvergate, a bank that is friendly to data encryption.
Macroeconomic policies also do not help secret sales markets.
The stock market is being hit hard by the bankruptcy of Silicon Valley Bank in the United States, and regulators announced the closure of the bank today after the bank reported a loss of $1.8 billion in key sales of US government bonds.
Popular economists believe that banks can buy government bonds as a safe way to diversify their assets, but the Fed's sharp rate hike has caused their prices to spiral down.
