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<p>The post <a href="https://coinpedia.org/news/top-crypto-news-this-week-crypto-market-faces-100b-loss-as-bitcoin-price-struggles-below-64k/">Top Crypto News This Week: Crypto Market Faces $100B Loss as Bitcoin Price Struggles Below $64K</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Last week, the crypto market faced a steep $100 billion loss, pushing Bitcoin below $64,000. Despite multiple recovery attempts, Bitcoin struggled to regain stability, peaking at $66.5K before dropping to $63.4K.</p> 
<p>The upcoming week may see continued pressure, with bearish trends possibly halting any recovery. Meanwhile, positive market developments and regulatory news made Ethereum losing only 1.5% last week. This article will explore the key events from the past week that significantly influenced the market.</p> 
<h3 class="wp-block-heading" id="h-australia-welcomes-first-spot-bitcoin-etf">Australia Welcomes First Spot Bitcoin ETF</h3> 
<p>The Australian Securities Exchange (ASX), which makes up 90% of Australia’s stock market, has given the green light for its first spot-bitcoin exchange-traded fund (ETF), according to a post from VanEck, the issuer.</p> 
<p>This fund mainly serves as a ‘feeder fund’ and uses a passive management approach, as stated in the disclosure. It offers investors a way to invest in bitcoin by putting money into the VanEck Bitcoin Trust (‘HODL’), a U.S. ETF listed on the Cboe BZX Exchange.</p> 
<h3 class="wp-block-heading" id="h-sec-ends-ether-security-investigation-amid-pressure">SEC Ends Ether Security Investigation Amid Pressure</h3> 
<p>The U.S. Securities and Exchange Commission’s (SEC) argument that Ether is a security might not have been as solid as suggested. On June 19, 2024, the SEC unexpectedly concluded its investigation into whether Ether is a security.</p> 
<p>Laura Brookover, a lawyer for Consensys, stated that the SEC will no longer claim that Ether is a security.</p> 
<h3 class="wp-block-heading" id="h-kraken-bug-exploited-researcher-demands-reward-for-3-million-theft">Kraken Bug Exploited Researcher Demands Reward for $3 Million Theft</h3> 
<p>Kraken revealed that Certik exploited a bug to hold onto $3 million in digital assets. The bug, reported by an anonymous “security researcher” on June 9, led to two accounts extracting these assets. The researcher demanded a reward for identifying and using the flaw.</p> 
<p>CertiK’s executive team provided a Q&amp;A summary to explain the situation, stating, “Cryptos were created from nothing, and no real Kraken user’s assets were involved in our research.” Ultimately, CertiK returned the $3 million in digital assets to Kraken.</p> 
<h3 class="wp-block-heading" id="h-microstrategy-buys-additional-11-931-btc">MicroStrategy Buys Additional 11,931 BTC</h3> 
<p>MicroStrategy, a Nasdaq-listed software company and the largest corporate Bitcoin holder, bought an additional 11,931 BTC for $786 million, a recent press release stated.</p> 
<p>As of April’s end, the company, led by Executive Chairman Michael Saylor, held 214,400 bitcoins. This new purchase increases its total to 226,331 tokens.</p> 
<h3 class="wp-block-heading" id="h-ripple-wins-partial-victory-in-court">Ripple Wins Partial Victory in Court</h3> 
<p>On June 21, the California courts handed Ripple a significant procedural victory in a class action lawsuit concerning XRP. Ripple CEO Brad Garlinghouse clarified the ruling, highlighting that all class action claims were dismissed.</p> 
<p>The ruling confirmed XRP’s non-security status and cleared Ripple of allegations of violating federal securities laws with its sales.</p> 
<h3 class="wp-block-heading" id="h-binance-fined-2-2m-for-aml-violations-in-india">Binance Fined $2.2M for AML Violations in India</h3> 
<p>India’s anti-money laundering unit announced on Thursday that Binance, the world’s largest cryptocurrency exchange, has been fined around $2.2 million (18.82 crore INR).</p> 
<p>The fine was imposed for providing services to Indian clients without complying with the country’s anti-money laundering regulations.&nbsp;</p>

Top Crypto News This Week: Crypto Market Faces $100B Loss as Bitcoin Price Struggles Below $64K

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