Connect with us

Crypto

Why is the crypto market down today? Explained

Published

on

Why is the crypto market down today? Explained

May 30, 2025 06:47 PM IST

The Chinese government has not only banned trading or mining of cryptocurrencies, but even individual ownership of digital assets like Bitcoin.

The cryptocurrency market on Friday experienced a significant decline, with a 61 billion dollar dip in total market capitalisation, partially due to new restrictions imposed by China on private cryptocurrency holdings.

Cryptocurrency markets experienced a sharp decline on May 30(REUTERS)

China has imposed a fresh ban on cryptocurrency holdings according to a report by Binance. The Chinese government has not only banned trading or mining of cryptocurrencies, but even individual ownership of digital assets like Bitcoin.

Advertisement

Although the current situation is challenging, analysts expect that downward pressure will ease soon, says InvestX, a cryptocurrency and finance related website. 

Also Read: Crypto investor tortures Italian man for Bitcoin password in $30,000-a-month NYC apartment

The move by China has led to a general decrease in investor optimism and has caused panic selling that caused a drop in the markets. China has had a hardline approach to cryptocurrency in order to promote the use of the state-backed digital yuan.

With the ban on private crypto holdings, Beijing is tightening its grip on financial flows, potentially accelerating the adoption of its central bank digital currency (CBDC). 

Also Read: Who is John Woeltz? $100M crypto king kidnaps, tortures Italian man for Bitcoin password in NYC before dramatic escape

Advertisement

Meanwhile, the Trump administration’s decision to favour tax cuts and lower tariffs have the potential to kick off another speculative frenzy in markets, reported Reuters, citing Bank of America.

This US economic strategy could incentivize traders to ditch bonds and start buying back into artificial intelligence and crypto trades, which would risk inflating a market “bubble.”

US vice president JD Vance has advocated for the use of Bitcoin and other cryptocurrencies in order to build on its strategic advantages against China.

During a Bitcoin Conference in Las Vegas, Vance applauded President Donald Trump’s executive order in March that created a strategic bitcoin reserve with tokens already owned by the government.

Advertisement

Stay updated with US News covering politics, crime, weather, local events, and sports highlights. Get the latest on Donald Trump and American politics.
Stay updated with US News covering politics, crime, weather, local events, and sports highlights. Get the latest on Donald Trump and American politics.

Advertisement

Crypto

Certik Unveils ‘Anti-Virus for AI Agents’ as Skill Marketplaces Face Hidden Threats

Published

on

Certik Unveils ‘Anti-Virus for AI Agents’ as Skill Marketplaces Face Hidden Threats

Key Takeaways

The Security Challenge

Blockchain and AI security firm Certik, on May 27, unveiled a new security platform designed to evaluate risks in third-party artificial intelligence (AI) skills. Dubbed the “anti-virus for AI agents,” the release comes amid growing industry concern over the security of AI skill marketplaces.

Security researchers have warned that many of these skills are unvetted, can execute system-level actions and may contain hidden malicious behavior, creating a new software supply chain risk for the AI era. Security audits across the sector have identified risks ranging from credential harvesting and data exfiltration to fund-transfer manipulation and prompt-based override attacks.

Despite these concerns, AI skill marketplaces have expanded rapidly as agent ecosystems mature. However, unlike traditional app stores, most skills are sourced from public repositories with little or no review. Analysts say this creates opportunities for attackers to embed harmful instructions, trigger unauthorized data access or manipulate autonomous execution flows.

In a recent blog post, Certik said its skill scanner platform is designed specifically to evaluate risks that emerge during execution, including scenarios involving financial transactions or fund calls. The scanner produces a numerical score from 0 to 100, along with “pass,” “warn” or “fail” verdicts and categorized findings. According to the company, the system achieves up to 90.5% precision in identifying security risks.

“As AI agents become more deeply integrated into financial systems, enterprise workflows and everyday digital interactions, the security model around third-party skills becomes critically important,” said Ronghui Gu, Certik’s CEO and co-founder. “CertiK Skill Scanner was built to establish a standardized trust layer before execution, helping users and platforms identify hidden risks before sensitive data, assets or systems are exposed.”

Certik said AI skill marketplaces can integrate the scanner directly into publishing pipelines, automatically reviewing skills before they go live and displaying security verdicts to users. Enterprises can deploy the tool as part of internal compliance and risk-management workflows, while independent developers can use it to self-audit skills before publishing.

Advertisement

The company said future updates will allow everyday users to scan skills themselves before installation. The scanner has already been deployed in select Web3 AI agent infrastructure environments. Certik is also expanding integrations with additional platforms, including Finchip.ai.

“Trust is the prerequisite for any skill economy to function at scale,” said Gary Yang, incubation investor at Finchip.ai. “CertiK’s work on skill security verification is exactly what this ecosystem needs. It’s what makes Finchip’s mission of programmable skill ownership and distribution worth building.”

The launch follows Certik’s expansion into AI-focused security infrastructure. Earlier this year, the company introduced its AI Auditor initiative to address risks tied to autonomous systems and AI-driven execution environments.

“AI applications are moving toward increasingly autonomous execution, which creates a new category of security and trust challenges,” Gu said. “We believe security infrastructure for the AI era must function proactively, not reactively.”

Advertisement
Continue Reading

Crypto

FBI Seizes Over $8 Billion In Cryptocurrency As Part Of The Largest Forfeiture In US Government History

Published

on

FBI Seizes Over  Billion In Cryptocurrency As Part Of The Largest Forfeiture In US Government History
iStockphoto composite

The FBI seized over $8 billion in cryptocurrency, freed nearly 2,000 trafficked workers, and arrested nearly 300 people in a recent international operation.

As part of the operation, authorities shut down several “scam compounds” and crime organizations, including groups known as the Prince Group in Cambodia, Operation Sand Dollar in Dubai, and the Democratic Karen Benevolent Army in Myanmar.

“Scam compounds are modern-day criminal enterprises built to steal from Americans, launder money, and exploit trafficked workers,” FBI director Kash Patel wrote on X announcing the results of the operation.

Fox News reports that the U.S. The Democratic Karen Benevolent Army, an armed militia named after a region in Myanmar that is allegedly connected to the Chinese mob, faces sanctions imposed by the U.S. Treasury. The government has classified it as a transnational criminal organization.

Images from an operation in Thailand reveal that the FBI confiscated office supplies and thousands of smartphones.

Advertisement
seized-devices-from-an-FBI-anti-scam-operation-in-Thailand
FBI

The FBI in Dubai will extradite six of the 275 individuals they and local police detained there to the United States to face federal charges, according to the FBI. The authorities raided nine “scam compounds” in Dubai, each allegedly generating $6 million in fraud proceeds annually.

Cryptocurrency scams in the US reached a record high in 2025

In April, an FBI report revealed that cryptocurrency scams in the U.S. reached a record high in 2025, with reported losses of almost $11.4 billion. According to the FBI, cyber-enabled crimes defrauded Americans of almost $21 billion in 2025, with the costliest complaints involving cryptocurrency and artificial intelligence (AI).

“The FBI’s 2025 Internet Crime Complaint Report highlights the ever-evolving tactics of internet scammers,” the FBI’s Baltimore office wrote on X. “From fake social media profiles to voice cloning and AI-generated content, cyber criminals are evolving.”

The Internet Crime Complaint Center (IC3) received over one million complaints in 2025, up from 859,532 in 2024. The most common complaints were about investment schemes, extortion, and phishing/spoofing.

Advertisement
Continue Reading

Crypto

US-Iran Escalation Pushes Bitcoin to $72,622 as $870M Long Bets Collapse

Published

on

US-Iran Escalation Pushes Bitcoin to ,622 as 0M Long Bets Collapse

Key Takeaways

Geopolitical Escalation Triggers Crypto Sell-off

Bitcoin plunged below $73,000 early Thursday following reports of fresh U.S. military strikes inside Iran. Market data shows bitcoin tumbled to a multi-week low of $72,622—its lowest level since April 13—before staging a modest recovery back to $73,000. This downturn continues a weekly bearish trend, contrasting sharply with broader global markets that had previously rallied on optimism for a permanent peace agreement between the U.S. and Iran.

The sharp decline pushed bitcoin’s daily losses to 3.6%, dragging its market capitalization down to $1.46 trillion and pulling the aggregate crypto market cap below the $2.6 trillion threshold. Since May 25, when bitcoin last attempted to test the $78,000 resistance level, the asset has shed over 6% of its value. Despite kicking off May on an upward trajectory, this latest price action positions the cryptocurrency to close the month in the red.

Retaliatory Strikes Threaten Peace Talks

According to reports, the latest U.S. military strikes targeted a strategic site in the Iranian port city of Bandar Abbas. In retaliation, Iran’s Islamic Revolutionary Guard Corps (IRGC) reportedly launched strikes against a U.S. military base in Kuwait, where local authorities confirmed that air defense systems engaged incoming missiles and drones.

This escalation comes just days after the U.S. military struck Iranian naval vessels and an alleged missile launch site in Bandar Abbas, citing self-defense. Iranian forces responded at the time by downing U.S. drones. Notably, these hostilities unfolded while U.S. and Iranian negotiators were actively convening in Qatar to finalize a peace agreement. While the Trump administration initially downplayed the earlier friction to keep diplomatic channels open, this latest exchange will likely torpedo the talks and embolden hardliners on both sides who oppose a negotiated settlement.

Meanwhile, the decline in bitcoin and the broader cryptocurrency market resulted in the liquidation of more than $930 million in leveraged positions. Coinglass data showed that liquidations on bitcoin alone topped $366 million, with wiped-out long bets accounting for $348 million of that total. Overall, the market saw $870 million in long positions wiped out over 24 hours.

Advertisement

Bitcoin Slips to $74,530 as Long Traders Face $106M Wipeout

Bitcoin trended downward on Wednesday, dropping beneath the $75,000 threshold to trade at $74,570 at the time of writing. This…

Bitcoin Slips to $74,530 as Long Traders Face $106M Wipeout
Bitcoin.com News

Bitcoin Slips to $74,530 as Long Traders Face $106M Wipeout

Bitcoin trended downward on Wednesday, dropping beneath the $75,000 threshold to trade at $74,570 at the time of writing. This…

Bitcoin Slips to $74,530 as Long Traders Face $106M Wipeout
Bitcoin.com News

Bitcoin Slips to $74,530 as Long Traders Face $106M Wipeout

Bitcoin trended downward on Wednesday, dropping beneath the $75,000 threshold to trade at $74,570 at the time of writing. This…

Continue Reading
Advertisement

Trending