Crypto News, Jan. 7: BTC on Brink of Losing $40,000
Crypto News

Crypto News, Jan. 7: BTC on Brink of Losing $40,000

5 months ago

Plus — Mozilla's co-founder really doesn't like crypto.

Crypto News, Jan. 7: BTC on Brink of Losing $40,000


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More pain ahead for Bitcoin? 

Bitcoin continued to bleed on Friday — falling to lows of $41,237.05 in early trading as crypto markets suffer a terrible first week in 2022. The world's biggest cryptocurrency has fallen by about 12% in seven days — with the likes of Ether, Binance Coin and Solana performing far worse. Thursday saw the Bitcoin Fear and Greed Index plunge to 15 — indicating Extreme Fear among investors. Mike Novogratz told CNBC he thinks BTC may bottom out between $38,000 and $40,000.

Mozilla stops accepting crypto

Mozilla has announced that it will no longer accept cryptocurrency donations — temporarily, at least — as it reviews the industry's environmental impact. It came after the project's co-founder, Jamie Zawinski, slammed it for "partnering with planet-incinerating Ponzi grifters." Reacting to the announcement, he added: "The only way to get a corporation to behave ethically is to create a PR disaster for their comms team."

Crypto criminals pocketed $14B in 2021

New figures suggest illicit addresses linked to crypto criminals received a whopping $14 billion in funds over 2021. That's a new all-time high — and a marked increase from the $7.8 billion seen in 2020. Chainalysis said the spike was to be expected given how transaction volumes have surged 567% year on year, but added: "With the growth of legitimate cryptocurrency usage far outpacing the growth of criminal usage, illicit activity’s share of cryptocurrency transaction volume has never been lower."

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