The platform was utilized to launder funds acquired from various criminal activities, including computer hacking, ransomware attacks and drug trafficking.
Grayscale’s Bitcoin Trust ETF has seen its first day of net inflows, following over $17.5 billion in outflows since the launch of spot Bitcoin ETFs in January.
Investments in the first quarter were influenced by innovation in areas like restaking, modularity, Bitcoin layer-2 solutions, and macroeconomic factors.
Bitcoin’s price chart looks similar to when spot Bitcoin ETFs were launched in the United States — suggesting a breakout soon, though there are some differences this time around.
The Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but analysts expect volatile price consolidation in the short term.