Bitcoin remains below $70,000 but is gradually distancing itself from the $60,000 support level. The silver lining is that altcoins are also experiencing an upward trend. Altcoins that have recently broken through resistance levels are now poised, waiting for Bitcoin to continue its climb. So, what are the latest happenings in the cryptocurrency market?
**Contents**
1. Latest Developments in Cryptocurrencies
2. Government BTC Sales
3. GME Lawsuit
4. SEC Lawsuit Against Consensys
**Latest Developments in Cryptocurrencies**
Ongoing sales by the German and US governments are causing concern among crypto investors, hindering the market’s recovery. Meanwhile, Roaring Kitty is set to return to court following the 2021 lawsuit saga. For the latest technology news, access NEWSLINKER.
**Government BTC Sales**
The German and United States governments are continuing their cryptocurrency sales. Germany transferred $95 million worth of BTC to exchanges, while the US moved $11.75 million worth of ETH to an undisclosed address. According to Arkham data, the German government sold approximately 2,700 BTC over the past two weeks. This trend is troubling, considering their substantial BTC reserves.
**GME Lawsuit**
Keith Gill, known for his involvement in the 2021 GameStop incident, caused GameStop shares to experience significant fluctuations between May and June. A class action lawsuit has been filed due to the double-digit swings in the company’s shares. Filed on June 28 in the Eastern District of New York, the lawsuit accuses Gill of pump and dump schemes facilitated through numerous social media posts since May 13.
The securities fraud lawsuit was triggered by some investors’ losses. Represented by the law firm Pomerantz, plaintiff Martin Radev claimed he suffered losses from GME options he purchased amid the fluctuations caused by social media posts.
A former Federal judge suggests that this lawsuit may also fail. In the coming days, the decision to accept or reject the case could lead to further fluctuations in GME shares and related meme coins.
**SEC Lawsuit Against Consensys**
Among recent events, this might be the most significant. Following the approval of the Spot ETH ETF, the SEC has filed a lawsuit against Consensys, asserting its persistence. The complaint alleges that Consensys earned over $250 million from brokerage services via MetaMask, which the regulatory body claims were provided without proper authorization.
“Since January 2023, Consensys has engaged in unregistered securities offerings and sales through crypto asset staking programs and acted as an unregistered broker via its MetaMask Staking service, collecting over $250 million in fees.”
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**Disclaimer:**
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry substantial risk. Conduct thorough research before making any investment decisions.