Bitcoin (BTC) continues to stay within range, now currently priced at around 10,300. Price action has been fairly tight today, with a high of 10,385 and a low of 10,200, with no retests of support at 9,800 nor resistance at 10,500 as of the moment. Next potential support range is at 8,800 - 8,500, while next potential resistance levels are at around 11,000 - 11,400. Retests of key levels could come early next week if the weekend can bring in some much needed volume.
Global market cap is at $334B, while BTC's market cap is at $191B.
The United States Internal Revenue Services (IRS) is offering a bounty of up to $625,000 to anyone who can crack privacy coins like Monero (XMR) and trace transactions on Bitcoin's (BTC) Lightning Network. According to the official proposal, submissions in the form of working prototypes will be accepted until September 16. Applicants who are accepted will receive an initial payment of $500,000. The initial grant will enable applicants to further develop their prototype over the next eight months. After this, the IRS will give the last payment of $125,000 once the pilot test is completed and approved.
This initiative of the IRS seeks to help Criminal Investigation (CI) special agents to trace transactions - wallet identification, transaction dates and times, and transaction amounts. The IRS is also looking to use these tools to predict future transactions of flagged addresses.
The decentralized finance (DeFi) space has been hit with another exit scam, as liquidity mining pool project Yfdexf.Finance has "exited the market after defrauding investors of $20 million in total funds locked in its protocol," media outlet ZyCrypto wrote on Sept. 10. The project shilled its vaporeware on Twitter and on messaging apps like Discord over the previous two days, but all traces of the scam appear to have been deleted.
On Sept. 11, the US Treasury added several individuals and cryptocurrency addresses to its Specially Designated Nationals List. Among the individuals blacklisted was Artem Mikhaylovich Lifshits who is a Russian national and is accused of interfering in the US elections. Personal information of Lifshits was disclosed including cryptocurrency addresses he allegedly controls. However, one of the ETH addresses listed '0xa7e5d5a720f06526557c513402f2e6b5fa20b00' is non-existent. According to a Cointelegraph report, a mixup in the chain of command and the Treasury could be the possible cause and the address meant to be blacklisted was '0xA7e5d5A720f06526557c513402f2e6B5fA20b008'.
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