Kraken CEO Warns Crypto Held On Exchanges Is At Risk Of Government Seizure – February 18

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $40,291

Bitcoin price is currently re-testing significant support at $40,000, as it continues to slide from recent highs.

Top-20 altcoins have also suffered over the last 24 hours, as Ethereum drops 5%, BNB falls 4% and Terra is the largest mover with an 8% tumble.

Top Stories for February 18, 2022 πŸ”₯

πŸ‘‰ Kraken CEO Warns Crypto Held On Exchanges Is At Risk Of Government Seizure

Kraken exchange CEO Jesse Powell has warned on Twitter that users worried about having their crypto seized by governments should withdraw their funds from centralized exchanges.

Powell wrote the Tweet in response to a comment claiming crypto exchanges will freeze crypto holdings at the request of police – claiming that it was inevitable and that Kraken would have to comply.

He also advised that those concerned users should only trade directly with others, a concept referred to as peer-to-peer (P2P).

πŸ‘‰ Bitcoin Mining Difficulty Hits New All-Time High

Bitcoin mining difficulty has reached fresh all-time highs for the network this week, hitting 27.97 trillion hashes. The new peak represents a significant 45% climb after July’s lows last year, when China cracked down on cryptocurrency mining in the country.

The difficulty level is a good measure of mining competition on the Bitcoin network. The more competition, the higher the difficulty – and the greater the amount of work required by each miner to earn block rewards.

πŸ‘‰ Terra CEO Ordered To Comply With SEC Investigation Into Mirror Protocol

Terraform Labs CEO Do Kwon has been ordered to comply with SEC subpoenas issued in the investigation of Mirror Protocol – a project built on the Terra blockchain.

Mirror protocol allows users to create tokens that track the price of real-world assets such as stocks, including those traded on US exchanges.