White House X Account Posts Unexpected Bitcoin Message

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📈 Preview On Today’s News:

1. - White House X Account Posts Unexpected Bitcoin Message 

2. - Entangle (NGL) Token Hacked, Value Plummets 96% 

3. - Coinbase Criticizes FDIC for Lack of Transparency in Operation Chokepoint 2.0

Keep reading below for more!

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Today’s News:

1)

White House X Account Posts Unexpected Bitcoin Message 

The official White House X account posted a surprising pro-Bitcoin message on Saturday, stating, “America as the world’s Bitcoin superpower” and referencing the Trump administration’s slogan, “America’s golden age has begun.” The post included an image of President Donald Trump signing the Bitcoin Strategic Reserve Executive Order alongside U.S. cryptocurrency and AI chief David Sacks. The post sparked controversy, with economist Peter Schiff criticizing the use of the presidential office for potential market manipulation. While the U.S. government has recently taken significant steps regarding Bitcoin and cryptocurrencies, the price of BTC remains around $86,000.

• The White House’s official X account posted a pro-Bitcoin message featuring an image of Trump signing a Bitcoin-related executive order.

• Economist Peter Schiff criticized the post, questioning its legitimacy and accusing the administration of benefiting speculators.

2)

Entangle (NGL) Token Hacked, Value Plummets 96% 

The Entangle (NGL) token, listed on major exchanges such as Bybit, MEXC, KuCoin, and Gate.io, suffered a devastating hack, causing its value to drop by 96% within seconds. Before the attack, NGL had a total market capitalization of approximately $17 million. In response, the Entangle development team acknowledged the issue on X, stating that they were investigating the situation and had temporarily halted the Entangle bridge to prevent further losses.

• Entangle (NGL) token suffered a 96% price collapse due to a major hack, wiping out nearly all its market value.

• The development team has halted the Entangle bridge and is actively investigating the incident to mitigate further damage.

3)

Coinbase Criticizes FDIC for Lack of Transparency in Operation Chokepoint 2.0

American cryptocurrency exchange Coinbase has accused the Federal Deposit Insurance Corporation (FDIC) of obstructing transparency efforts regarding Operation Chokepoint 2.0, a campaign aimed at cutting crypto firms off from banking services. Coinbase's Chief Legal Officer, Paul Grewal, criticized the FDIC for failing to provide crucial documentation and for allegedly thwarting Freedom of Information Act (FOIA) requests. Despite efforts to obtain records proving the operation’s existence, only minimal, unrelated documents have been disclosed. The White House Crypto Summit also highlighted the Biden administration’s role in regulatory actions against crypto firms, including the reversal of OCC guidelines that had previously allowed banks to provide custody services for crypto companies.

• Coinbase has accused the FDIC of refusing to provide transparency on Operation Chokepoint 2.0, which sought to restrict banking access for crypto firms.

• The White House Crypto Summit addressed the Biden administration's role in regulatory actions, including reversing OCC guidance that had allowed banks to provide crypto custody services.

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