Despite favorable market sentiment, the crypto market briefly fell amid the arrest of Samourai Wallet founders.
The crypto market saw extra turbulence after Samourai Wallet’s CEO and chief technology officer faced legal action from the U.S. DOJ.), and major altcoins briefly tumbled amid news of Samourai Wallet founders' arrest by the United States Department of Justice on the backdrop of ongoing Middle East tensions and post-halving volatility.
On April 24, Cointelegraph reported that cryptocurrency wallet Samourai Wallet CEO Keonne Rodriguez and chief technology officer William Hill will each face one count of conspiracy to commit money laundering andWithin an hour of the DOJ announcement, Bitcoin’s price dropped 3.6%. Its price dipped below key support levels to $63,710, before recovering slightly to $64,546, as per CoinMarketCapMeanwhile, Ethereum dropped 2.
The crypto market decline also comes in the backdrop of geopolitical tension further escalating in the Middle East.his 456,400 X followers on April 24 that he predicts the next bull market peak not to occur until late 2025, approximately 546 days after the halving.The crypto community criticized the recent arrests, fearing it could be another attempt by the U.S. government to crack down harshly on crypto.
“These developers face up to 25 yrs in prison for writing code. The US is sending a message. No transaction will be private,” crypto analyst Ryan Adams stated in an April 24his 26,800 X followers that this “attack by the US Government on Samourai wallet is bigger than most people think.”This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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