Trump & Musk War Rocks Crypto 🚨
Well, well, well… Did we just experience a political drama that serves up more entertainment than a reality TV show? The bromance between Trump and Musk just went nuclear, and the king of crypto caught some serious crossfire before showing some serious resilience to climb back to $107k faster than you can say "Twitter beef."
And speaking of drama, the ultimate work-from-home scam is upon us…. We’ve got sneaky North Korean ninjas going on massive crypto laundering missions and getting caught orange-faced in the identity theft heist.
- Nearly $1 billion liquidated as Bitcoin recovers from $100k dip during Elon Musk, Donald Trump breakup
- North Korean IT Workers Stole US Identities to Launder $7.7 Million in Crypto
- Argentina Anti-corruption Office Clears Javier Milei Of Misconduct In $LIBRA Crypto Investigation
- Bitcoin Pushes Toward $107K Even as Trump Sends National Guard to Los Angeles
Nearly $1 billion liquidated as Bitcoin recovers from $100k dip during Elon Musk, Donald Trump breakup
Bitcoin briefly dipped to $100,000 before swiftly rebounding to $103,000 in early trading hours Friday, as markets reacted to an explosive social media fallout between U.S. President Donald Trump and Tesla CEO Elon Musk. The confrontation, unfolding in real time across Truth Social and X, was marked by Trump’s threat to revoke federal contracts and subsidies to Musk’s companies, and Musk’s own scathing repudiation of Trump’s fiscal policies. The political confrontation ignited a cross-asset selloff that wiped $150 billion from Tesla’s market cap and prompted nearly $308 million in Bitcoin long liquidations.
North Korean IT Workers Stole US Identities to Launder $7.7 Million in Crypto
The sweeping civil forfeiture action followed a probe into an elaborate crypto scheme involving stolen American identities and fraudulent remote work. Filed in the US District Court for the District of Columbia, the complaint details how North Korean IT workers posed as American citizens to land jobs at US blockchain and tech firms. Their salaries, often paid in stablecoins like USDC and USDT, were covertly funneled back to North Korea using advanced laundering tactics. The FBI’s investigation revealed that these operatives used stolen or fake IDs to bypass KYC checks. The IDs also helped them gain access to remote roles, sometimes through job platforms or US-based intermediaries.
Argentina Anti-corruption Office Clears Javier Milei Of Misconduct In $LIBRA Crypto Investigation
The Anti-Corruption Office (AO) in Argentina has cleared the country’s President, Javier Milei, of any wrongdoing, stating that he acted in a personal activity when he promoted the $LIBRA cryptocurrency last February. According to an announcement by the anti-corruption office, President Javier Milei did not violate the country’s public ethics laws regarding the $LIBRA cryptocurrency, which experienced a dramatic rise and fall in a widely publicized event in February. The key individuals implicated in the investigation alongside the President were his sister, Karina, and Hayden Davis, CEO of Kelsier Ventures, who faced allegations related to fund mismanagement.
Bitcoin Pushes Toward $107K Even as Trump Sends National Guard to Los Angeles
Bitcoin (BTC) maintained a steady climb Saturday as U.S. domestic tensions intensified. Markets remained focused on crypto resilience despite unsettling headlines, including an immigration-related standoff in Los Angeles. According to a report by CNBC, over 100 arrests have been reported as clashes continued between protesters and federal agents, prompting President Trump to authorize the deployment of 2,000 National Guard troops. By Sunday morning, elements of the 79th Infantry Brigade had arrived on-site, according to Northern Command.
Other Highlights Worth Mentioning
US seizes 145 domains, crypto linked to BidenCash dark web market - Cointelegraph
France Charges 25 People, Including 6 Minors, in Crypto Kidnapping Cases - CoinDesk
Binance Exec Tigran Gambaryan Leaves Firm, Months After Nigerian Hostage Crisis - Decrypt
Crypto.com Exchange Takes Nevada to Court Over Event Contracts and Sports Betting Ban - Tradingview
COINIGY MEME OF THE WEEK
COINIGY FACT OF THE DAY🗓️
June 9, 2021 – El Salvador becomes the first country in the world to adopt Bitcoin as legal tender.
On this day in 2021, El Salvador becomes the first country in the world to adopt Bitcoin as legal tender. This historic move was passed by the country’s Congress on this date, mandating that Bitcoin be accepted alongside the U.S. dollar for payments and taxes. President Bukele also proposed using volcanic geothermal energy to power Bitcoin mining and established a trust to guarantee instant conversion from BTC to USD