Market News

Bitcoin and Crypto Insights: Coinbase and Irdeto Combat Illicit Activities

Irdeto, a sister company of Multichoice, has partnered with Coinbase to enhance efforts against the misuse of cryptocurrency in illicit activities.

This collaboration aims to address the alarming rise of cryptocurrency usage in cybercrime, which has climbed from 13% in 2022 to 19% in 2024.

By sharing intelligence and detailed reports, Irdeto and Coinbase are working to disrupt payment channels utilized by criminals.

Additionally, this initiative aids law enforcement agencies in tracking down offenders and recovering stolen crypto assets.

In the realm of market predictions, crypto analyst Altcoin Sherpa recently hinted at a potential drop in Bitcoin's price to around $50,000, although he later claimed this was a joke.

The recent downturn in Bitcoin's price can be linked to external factors, including rising geopolitical tensions involving the US and China.

While many analysts are cautious, there are predictions suggesting that Bitcoin might bounce back around the $104,000 mark.

Moreover, the Crypto Fear and Greed Index has also shifted from 'extreme greed' to 'neutral', reflecting a broader market sentiment change.

With Bitcoin trading at around $104,500, this volatility signals both opportunities for traders and the underlying fragility of market confidence.

As the crypto landscape evolves, stakeholders remain vigilant in balancing innovation with the imperative to combat illicit activities effectively.