Bankman-Fried $250M Bond A ‘Joke’: Securities Lawyer

• Bankman-Fried’s $250M bond is being called a “joke” by securities lawyer James Murphy.
• The US government has launched a crackdown on the crypto industry with numerous actions.
• OpenSea has gone zero-fee in order to compete with Blur, while BTC, ETH, XRP and LTC all experienced losses in the last session.

Bankman-Fried Bond Called a Joke

Sam Bankman-Fried’s bail terms have been described as ‘ludicrous’ by James Murphy, securities lawyer and founder of Ludlow Street Advisors. According to Murphy, there was no real money used for Bankman-Fried’s bond but only the promise of it should he flee the country.

US Government Cracks Down on Crypto Industry

Cryptocurrency executives had high hopes that 2023 would bring some positive change following a rough year for the industry. Instead, they have found themselves facing an aggressive governmental crackdown courtesy of the SEC which has targeted many companies in the sector.

OpenSea Goes Zero-Fee

Leading non-fungible token marketplace OpenSea said it is temporarily eliminating its marketplace fee in order to better compete with popular no-fee marketplace Blur. This move could potentially heat up competition in this area of the market.

BTC/USD Dropped 0.4%

The Bitcoin fell 0.4% against the Dollar in the last trading session according to technical indicators such as RSI which is currently showing positive territory (support at 24242.3333 and resistance at 25048.3333). Similarly, ETH/USD fell 0.3%, XRP/USD dove 1.3% and LTC/USD dropped 1.4%. All four are currently showing positive signals from their respective indicators; Ultimate Oscillator for LTC/USD indicating positive territory (support at 97