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It is known that the US and its institutions hold a significant place in the cryptocurrency market. The pressure exerted by both the SEC and the CFTC on companies, especially cryptocurrencies, can lead to major questions and problems. For instance, the processes between the SEC and companies like Ripple, Terra Foundation, Binance, and Coinbase are noteworthy. Recently, the SEC’s step back on Ethereum has raised questions. A new development has just occurred on the CFTC side.
CFTC Initiates Investigation
The news that the US Commodity Futures Trading Commission (CFTC), one of the important institutions of the US, has started investigating Jump Crypto, one of the old giants of the market, created a bombshell effect in the market.
Jump Crypto, considered one of the old giants of the market, is known to have suffered significant losses due to market uncertainties and regulations. The increasing competitive environment in the market also caused this process to expand further, and it later emerged that the company suffered even greater losses.
At this point, it is thought that the company might once again be facing a great unknown following the CFTC’s investigation move. In the coming times, the reason and scope of the investigation will be revealed, which will shape the future of Jump Crypto.
What is the Bitcoin Price?
Amidst all this, eyes were on the Bitcoin price. The Bitcoin price, which has been falling for days, seems to have slowed down a bit today. As of the time of writing, BTC has only dropped 0.14% in the last 24 hours and is trading at $64,700, below the $65,000 level.
During this period, BTC’s market volume also experienced a slight decline. After the decline, the volume fell to $1.277 trillion, still below the critical $1.3 trillion level. Additionally, the 24-hour trading volume also dropped to $23.3 billion, which means a 15.82% decrease.
