UK Crime Network, Worth Billions, Used Crypto to Funnel Drug Cash to Russia, NCA Says

Bitcoin's value has declined as Japan's substantial $135 billion stimulus package impacts global markets. This downturn reflects heightened investor anxiety and a bearish sentiment in the cryptocurrency market, particularly as the UK intensifies its efforts against Russian money laundering and sanctions evasion involving crypto.

Bitcoin's value has declined as Japan's substantial $135 billion stimulus package impacts global markets. This downturn reflects heightened investor anxiety and a bearish sentiment in the cryptocurrency market, particularly as the UK intensifies its efforts against Russian money laundering and sanctions evasion involving cryptocurrencies.

Bitcoin's value has dropped significantly as Japan's $135 billion stimulus package has unsettled global markets, contributing to a bearish sentiment in the cryptocurrency sector. This decline reflects heightened investor anxiety, particularly as the UK intensifies its crackdown on Russian money laundering and sanctions evasion involving cryptocurrencies.

$1.93 billion was liquidated from the cryptocurrency market as the total market cap fell below $3 trillion following a severe flash crash. This downturn was marked by significant sell-offs, particularly in Bitcoin, which saw its price drop below $90,000 for the first time in seven months. The volatility has raised concerns among investors about the stability of the cryptocurrency market.

U.K. authorities have launched a criminal investigation into Basis Markets, a crypto hedge fund accused of defrauding retail investors of $28 million. Two individuals believed to be key figures in the operation were arrested on Monday as part of the inquiry.