Crypto Scam Hits World Cup Tournament as US-Iran Peace Deal Calms Markets š
Welcome to another edition of your favorite weekly news round-up, guys.
If you have always thought that markets don't move in isolation, last week just proved you right. With the US-Iran peace deal, the Strait of Hormuz is back to work, and surprisingly, Bitcoin got the āopen for businessā memo, but oil didnāt.
Before we get overly excited now, scammers are out here trying to hustle World Cup fans as if the tournament wasnāt chaotic enough. And Sam Bankman-Friedā¦ I know you probably moved on from him. I have too, but for what it's worth, heās still fighting battles he's already lost.
Here are the highlights:
- Bitcoin Tops $65,000 to a Two-Week High as the US-Iran Deal Reopens the Strait of Hormuz and Sends Oil Sliding
- Crypto Scammers Hit World Cup Fans as Tournament Gets Underway
- EU Proposes Sanctions Against Russian Banks and Crypto Networks
- FTX's Sam Bankman-Fried Loses Appeal of Criminal Conviction on Fraud, Conspiracy Charges
Bitcoin Tops $65,000 to a Two-Week High as the US-Iran Deal Reopens the Strait of Hormuz and Sends Oil Sliding
Bitcoin climbed to its highest level in nearly two weeks after the US and Iran reached a deal to end hostilities and reopen the Strait of Hormuz, removing the energy-supply fear that had weighed on markets for months. The token traded around $65,844 on Monday, up 2.1% over 24 hours, after touching a low near $63,722 in early Asian trading before the deal news broke. The move puts bitcoin about 9% above the sub-$60,000 low it hit last week, its weakest level since October 2024.
Crypto Scammers Hit World Cup Fans as Tournament Gets Underway
TRM Labs has tied four cryptocurrency addresses to live scams targeting 2026 World Cup fans, spanning fake ticket sites and a fixed-match betting scheme as matches play out across North America. The blockchain intelligence firm says wallets associated with the operations have received less than $1,700 combined so far. However, it warns that scam volume and frequency could ramp up. Major sporting events create concentrated demand spikes for tickets, travel, and merchandise. Scammers build that timing into their planning, seeding fake infrastructure weeks ahead, then promoting it hard near kickoff, TRM research shows.
EU Proposes Sanctions Against Russian Banks and Crypto Networks
The European Union has put forward a 21st round of sanctions on Russia linked to the war in Ukraine, with measures including banks and crypto channels, according to EU foreign policy chief Kaja Kallas. The proposed measures would cover 170 people and organizations. Among them are nearly 90 banks, the largest batch included at one time, which would bring the number of listed banks to above 100, meaning more than half of Russiaās 213 internationally connected lenders.
FTX's Sam Bankman-Fried Loses Appeal of Criminal Conviction on Fraud, Conspiracy Charges
FTX founder and former CEO Sam Bankman-Fried lost his effort to overturn his conviction on fraud and conspiracy charges tied to the operation and collapse of his former crypto trading empire on Friday. A Second Circuit Court of Appeals panel ruled that the onetime crypto executive's arguments that his trial was unfair were not persuasive, going through Bankman-Fried's contention that he was prevented from presenting all of his legal arguments and that he was blocked from arguing that FTX's investments would do well.
Other Highlights Worth Mentioning
Philippines Issues Stricter Crypto Listing Rules, Bans Privacy Coins ā Decrypt
SEC targets 20-year-old rule standing between Wall Street and blockchain trading ā Cryptoslate
Binance Bybit and Kraken Get Less SpaceX Shares Than Expected, But One Fared Worse ā Be in Crypto
US Government Moves $768,000 Seized FTX Tokens, Sparks Chainlink Sell-Off Fears ā Yahoo Finance
COINIGY FACT OF THE DAY
On this day in 2022, Bitcoin crashed down nearly 30% toward $20K during the Celsius crisis, with experts believing it could still go lower.
June 15, 2022, marked one of the most brutal moments of crypto winter. Bitcoin dropped below $21,000 and flirted with the $20,000 level as Celsius froze customer withdrawals and Three Arrows Capital teetered on the brink of collapse. The crisis exposed the fragility of leveraged crypto firms and accelerated a market-wide deleveraging event that would eventually wipe out hundreds of billions of dollars in value.
COINIGY MEME OF THE WEEK
