The dramatic arrest of Samurai Wallet Bitcoin founders by the US Justice Department has sparked shock in the crypto community.
On April 24, the cryptocurrency market experienced a brief decline following the news of Samurai Wallet Bitcoin Founders Arrested by United States Department of Justice (DOJ).
The arrest, which comes amid ongoing tensions and post-recession instability in the Middle East, saw the prices of Bitcoin (BTC) and Ether (ETH) fall by 3.6% and 2.51% respectively within an hour of the announcement. Samurai Wallet CEO Keon Rodriguez and Chief Technology Officer William Hill are each charged with one count of conspiracy to commit money laundering and one count of conspiracy to operate an unlicensed money remittance business.
The news caused a sharp decline in the price of Bitcoin, which dropped below the key support level at $63,710 and then recovered slightly to $64,546. On the other hand, Ether failed to make a comeback and fell to $3,158.
Major altcoins also saw brief declines, with PEPE seeing a 6.4% decline, Shiba Inu (SHIB) seeing a 2.7% decline, and Dogecoin (DOGE) seeing a 3.2% decline. Sharp price declines in the top two cryptocurrencies by market capitalization triggered widespread liquidation of long positions, CoinGlass shows data Long positions worth $33.08 million were liquidated in Bitcoin and long positions worth $29.88 million were liquidated in Ether in the last 12 hours.
The crypto community was largely expecting some short-term volatility after the Bitcoin halving, which occurred a few days earlier on April 20. still, Price action was tremendous after the event and even Charges fell on the network,
invasion of privacy
Despite fluctuations, overall investor sentiment in the crypto market remains positive fear and greed index Showing a “greed” score of 72, an increase of 15 points from last week. However, the crypto community has criticized the recent arrests, fearing that this could be another attempt by the US government to crack down on crypto, with some analysts and commentators expressing concerns about the potential impact on Bitcoin and transaction privacy. Is of.
The developers of Samurai were arrested this morning.
One was extradited from Portugal.
Samurai is a Bitcoin wallet that makes Bitcoin private.
These developers face up to 25 years in prison for writing the code.
America is sending a message.
No transaction will be private. pic.twitter.com/GupLtMuHD8
– Ryan San Adams – rsa.eth 🦄 (@RyanSAdams) 24 April 2024
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