Shocking Crypto News: Dogecoin’s Wild Ride and SEC’s New Anti-Fraud Squad! 🐶💰

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In the grand tapestry of our modern existence, where fortunes are made and lost with the click of a button, U.Today has gathered the most riveting tales from the tumultuous world of cryptocurrency over the past day.

100,000,000 Dogecoin (DOGE) hits world’s largest crypto exchange

On a day not unlike any other, the vigilant Whale Alert, akin to a modern-day oracle, reported a most curious event on the 20th of February. A staggering transfer of Dogecoin, that whimsical currency adorned with the visage of a dog, made its way to Binance, the behemoth of crypto exchanges. This transaction, a veritable treasure trove of 100 million DOGE, bore a weighty value of approximately $25.4 million. Such grand movements of digital currency often herald a sell-off, as if the investors were preparing for a great exodus, while withdrawals suggest a more hopeful clinging to their digital dreams. Alas, the timing of this transaction was less than fortuitous; DOGE, that once-mighty coin, found itself languishing below the $0.30 mark for the first time since the autumn of 2024, and it slipped further, like a dog chasing its tail, down by 0.8% post-transfer. Market watchers, those ever-curious souls, pondered whether this was a harbinger of doom for DOGE or merely a transfer devoid of context. As the clock struck the present hour, DOGE was trading at $0.2595, a modest rise of 1.35% over the past 24 hours, according to the ever-reliable CoinMarketCap.

Adam Back makes bullish case for Bitcoin as BTC price reclaims $97,000

In a recent proclamation on the platform known as X, the esteemed Blockstream founder, Adam Back, addressed the crypto community with a tone reminiscent of a wise elder, cautioning those who dared to lack sufficient bullishness regarding Bitcoin. He presented a veritable cornucopia of fundamental data to bolster his unwavering faith in Bitcoin’s potential for enduring growth. Back pointed out, with the fervor of a prophet, that the demand for Bitcoin ETFs currently eclipses the selling pressure, a dynamic he believes will create a veritable tidal wave of buy pressure, positively impacting prices. He lamented that many market participants were woefully underestimating the bullish implications of this phenomenon, for once Bitcoin holders relinquish their precious BTC, they cannot simply reclaim it like a lost sock. Furthermore, Back noted that long-term and institutional investors were hoarding Bitcoin, reducing its availability and thus contributing to an upward price pressure akin to a balloon being inflated. The growing institutional adoption, he argued, would serve as yet another catalyst for Bitcoin’s ascension, as if the heavens themselves were aligning in favor of this digital gold.

SEC reveals new anti-crypto-fraud unit: Details

In a move that could only be described as both timely and necessary, the SEC, that stalwart guardian of financial propriety, announced the formation of the Cyber and Emerging Technologies Unit (CETU). This new entity, tasked with combating the nefarious deeds of cyber miscreants and safeguarding the unsuspecting retail investors from the clutches of bad actors, replaces the former Crypto Assets and Cyber Unit. Comprising a cadre of approximately 30 legal and fraud specialists, this unit is poised to tackle a myriad of issues, from AI-fueled fraud to the insidious social media scams that plague our digital lives. They will scrutinize the takeovers of retail brokerage accounts and crypto scams with the diligence of a hawk, ensuring compliance with cybersecurity regulations among the regulated entities. Leading this noble endeavor is Laura D’Allaird, a seasoned veteran of the SEC, who previously co-led the now-defunct Crypto Assets and Cyber Unit. Her experience is akin to that of a seasoned general preparing for battle against the forces of chaos.

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2025-02-21 20:57