Top Crypto News: DOGE Transfer, Bitcoin Bullish Outlook, SEC's New Unit

100 Million DOGE Transferred to Binance

A significant transfer of 100 million Dogecoin (DOGE), worth approximately $25.4 million, was moved to Binance on February 20. This large movement of DOGE has sparked speculation among investors, as such transfers to exchanges often precede sell-offs. DOGE's price has recently struggled, dropping below $0.30 for the first time since November 2024 and slipping an additional 0.8% after the transfer. At the time of writing, DOGE is trading at $0.2595, showing a 1.35% increase over the past 24 hours. Market watchers are left wondering if this transfer signals a potential price drop or is merely an isolated event.

Adam Back Bullish on Bitcoin's Future

Blockstream founder Adam Back has expressed optimism about Bitcoin's (BTC) price trajectory, citing strong demand for Bitcoin ETFs and reduced selling pressure. Back highlighted that once BTC is sold, it cannot be resold, which could create sustained buy pressure. He also noted that long-term and institutional investors are accumulating BTC, further reducing its supply and driving upward price pressure. Additionally, growing institutional adoption is expected to be a key catalyst for Bitcoin's growth. Back believes these factors could significantly boost Bitcoin's value in the near future.

SEC Launches New Anti-Crypto-Fraud Unit

The Securities and Exchange Commission (SEC) has announced the creation of the Cyber and Emerging Technologies Unit (CETU), replacing the former Crypto Assets and Cyber Unit. This new unit will focus on combating cyber-related misconduct, including fraud fueled by AI, social media scams, and hacking. It will also monitor takeovers of retail brokerage accounts, crypto scams, and ensure compliance with cybersecurity regulations. The CETU is composed of about 30 legal and fraud specialists from various SEC offices, with Laura D'Allaird, a seasoned SEC veteran, leading the unit. This move underscores the SEC's commitment to protecting retail investors from emerging threats in the tech and crypto spaces.