**German Authorities Seize $38M in Crypto as Market Stocks Surge**
In a dramatic crackdown, German law enforcement seized 34 million euros ($38 million) in cryptocurrency from eXch, a platform allegedly used to launder funds from Bybit’s $1.4 billion hack. The operation underscores global efforts to curb crypto-related crime, with authorities intensifying scrutiny on illicit transactions. This move signals a tightening regulatory landscape, potentially impacting investor confidence in decentralized platforms.
Meanwhile, the crypto market is riding a wave of optimism as Bitcoin surged past $100,000, propelling a rally in crypto stocks. Shares of Coinbase, Strategy (formerly MicroStrategy), and Bitcoin miners like Riot Platforms and Mara Holdings climbed 6-8%, reflecting robust market sentiment. The total crypto market cap now exceeds $3 trillion, with Bitcoin’s dominance fueling gains across the sector.
The juxtaposition of regulatory action and market exuberance highlights the crypto industry’s dual reality: rapid growth alongside increasing oversight. As investors celebrate the rally, the German seizure serves as a reminder of the sector’s vulnerabilities to crime and regulation.
*Sources: Cointelegraph, Bloomberg*
