Bitcoin Nears $64K as Australia Takes Legal Action Against Telegram Over Terror Content

Bitcoin dipped slightly by 0.4% overnight, hovering just below the $64,000 mark after a week filled with volatility. The Federal Reserve held interest rates steady on Wednesday, yet hints from SEC Chair Paul Atkins about possible hikes created ripples across both crypto and stock markets.

Despite the jitters, Bitcoin ETFs saw solid inflows, with $233 million added yesterday. BlackRock's IBIT fund alone accounted for over $180 million of this surge. These strong inflows contrast with the broader market mood, as the total crypto market cap inched up by 0.5% to $2.29 trillion. Trading volumes dipped slightly, reaching $59.1 billion from a prior $63.4 billion.

Australia Challenges Telegram Over Online Safety Violations

On a legal front, Australia's online safety regulator has taken action against Telegram. The messaging app stands accused of violating the nation's Online Safety Act by failing to remove flagged terrorist content. This lawsuit comes amid global scrutiny following Russia's sanctions against Telegram's founder Pavel Durov.

The civil case filed in Federal Court claims that Telegram ignored reports and left extremist content accessible for up to three weeks. Over the past year, the eSafety Commissioner’s investigation found that Telegram did not do enough to suspend or block repeat offenders spreading such content. If found guilty, Telegram could face fines totaling AUD 54.6 million, roughly $35.8 million.

Binance.US Eyes Derivatives and Prediction Markets

Meanwhile, Binance.US is plotting expansion into derivatives and prediction markets, signaling growing interest in diversified crypto trading products among U.S.-based users. This move aligns with broader trends as investors seek new avenues beyond spot trading.

The crypto Fear & Greed Index remains stuck at 25, signaling that traders remain cautious and the market hasn’t fully shaken off bearish sentiment. This persistent pessimism contrasts with the ongoing influx into Bitcoin ETFs.

This content is for informational purposes and does not constitute financial advice.