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Cryptocurrency traders who thrive on market volatility have been on a wild roller coaster ride over the past week. More risk-averse investors might be feeling squeamish, but its all a part of the volatile market thats at least ending well for the bulls so far.

Bitcoin, the leading cryptocurrency soared past the $24,000 mark after falling below $20,000 recently. Bitcoin and the rest of the cryptocurrency markets have been following traditional assets for most of the year (and last year) while inflation fears and rising interest rates have once again been a prime factors in moving all markets.

More recently, the collapse of SVB Financial Group has been dumping a large bucket of volatility on the financial markets, which is spilling over into the crypto markets. The fallout from the SVB debacle also caused shares of regional banks to slide, including the San Francisco-based First Republic, which saw a 60% fall in its share price on Monday, March 13.

That affected other bank stocks, causing multiple halts in the trading of shares, according to a Reuters report. These latest developments follow crypto lender Silvergate Capital announcing that it would wind down operations, while Signature, another crypto-friendly bank, was seized by banking regulators.

Because of the threat of a potential banking crisis,U.S. President Joe Biden addressed the situation and vowed to do what was necessary to prevent a crisis from occurring. This, in effect, injected much-needed euphoria into investors, which spilled over into the cryptocurrency markets.

The aforementioned Reuters report noted that national regulators implemented emergency measures, while First Republic secured additional financing, thanks to help from JPMorgan and the U.S. Federal Reserve. The latest slide in bank stocks follows the aggressive monetary policy tightening of the Fed as it looks to get inflation under control.

In essence, rising rates can affect the bottom line of regional banks, especially if a number of their products rely on loans, which consumers are not demanding if rates are just too high. According to Art Hogan, chief market strategist at B. Riley Wealth, the market is finding out in real time what the risk of rising interest rates at such a fast pace can do to the balance sheets of some of the regional banks.

Given the Fed announcement over the weekend of a backstop for banks and specifically Silicon Valley Bank, markets have turned euphoric knowing that depositors money is safe and a major potential bank run has been averted, said Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno, in a CNBC report.

For more news, information, and analysis, visit theCrypto Channel.

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Cryptocurrency Market Went on a Wild Ride This Week - ETF Trends

Illustration: Shoshana Gordon/Axios

Crypto staking is a way of maintaining consensus over bookkeeping systems with thousands of simultaneously updated copies that is, a blockchain.

Why it matters: A massive amount of value is tied up in staking. On Ethereum alone, 17.6 million ethers (about $30 billion in value, or 14% of ether's total market cap) is staked on the network, guaranteeing its transactions are provably fair.

Big picture: Stakers are like the bookkeepers on the blockchains.

Zoom in: With billions of dollars in value at stake, such bookkeepers might be tempted to cheat and put funds in their own pockets or those of their friends.

In short, Ethereum has $30 billion in crypto ensuring that everyone plays fair.

The upshot: These bookkeepers are willing to take this risk because they get paid to do so. They get fresh new emissions of cryptocurrency for every block they take responsibility for validating.

Between the lines: It actually isn't just that they play fair. It's also that they do the job well. A staker can lose some stake if it goes offline or screws up (though it won't be as bad as if they steal).

The intrigue: A person or company doesn't have to do the validation in order to participate though. It's also possible to delegate.

Another really big network is Coinbase, which enables its users to stake their assets seamlessly in the app. So far, $1.8 billion in ether has been staked on the largest U.S. exchange.

Be smart: Both Lido and Coinbase tokenize people's stakes. That means they get a sort of cryptocurrency coupon for their deposits, one that tracks their staking earnings and that can be traded on chain, without unstaking.

What we're watching: Ethereum's staking program has been unique. What has gone into Ethereum as a stake has not come out again, by design. But when the Ethereum protocol undergoes its next big upgrade this month, stakers can start withdrawing ether.

Go deeper:

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The promise and perils of staking cryptocurrency - Axios

FAIRVIEW HEIGHTS, Ill. The U.S. Attorneys Office in the Southern District of Illinois announced Thursday the seizure of cryptocurrency valued at approximately $24,000 from an account believed to be involved in a fraud scheme against an OFallon resident.

Many of us are still learning the facts about buying and trading cryptocurrency, and as in many cases, scammers are targeting the vulnerable, said U.S. Attorney Rachelle Aud Crowe. I appreciate the collaboration between the OFallon Police Department and the U.S. Secret Service for their efforts to recover the victims funds.

The U.S. Secret Service is dedicated to safeguarding the integrity of U.S. financial systems and preventing the public from losing their hard-earned money to these types of scams, said Stephen S. Webster, Resident Agent in Charge of the U.S. Secret Service Springfield Office. Unfortunately, new technology has made it easier for individuals abroad to take advantage of innocent victims throughout the United States. The U.S. Secret Service worked quickly with our partners at the U.S. Attorneys Office in the Southern District of Illinois and OFallon Police Department to seize this cryptocurrency and prevent it from lining the pockets of criminals overseas.

The U.S. District Court issued a default judgment on Feb. 15 on a civil forfeiture complaint. The civil forfeiture complaint, which was filed on Sept. 21, 2022, sought the seizure of 14.77997889 Ethereum (ETH) Cryptocurrency from a Binance Account holder based in Nigeria.

According to an exhibit filed in support of the governments civil forfeiture complaint, a woman contacted the OFallon Police Department in June 2022 to report she was a victim of fraud in a suspected cryptocurrency scam worth more than $32,000.

In May 2022, the victim began communicating with a Twitter account unbeknownst to her at the time was impersonating a cryptocurrency influencer. The fraudster instructed her to deposit $32,662 worth of Bitcoin into a 3Twarriorstrading.com account. By the time the victim realized the website was a scam, she could not retrieve the cryptocurrency.

The value of the forfeited property will be returned to the victim through a process known as remission. The victim lost about $32,000, but the investigation could only trace and forfeit property worth approximately $24,000.

No criminal charges have been filed related to the civil forfeiture.

The OFallon Police Department and the U.S. Secret Service contributed to the investigation. Assistant U.S. Attorney Adam E. Hanna is prosecuting the case.

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U.S. Attorney Office Seizes $24000 in Suspected Cryptocurrency ... - Department of Justice

What happened

Cryptocurrencies were a stinker of an asset class on Wednesday, but you wouldn't know that from the performance of one of their top exchange operators. Coinbase (COIN 5.13%) saw its share price rise by almost 3% on the day following an analyst's price-target bump; this performance trounced that of the S&P 500 index, which wilted at a 0.7% pace.

Well before market open that day, Atlantic Equities' Simon Clinch made the move. He now pegs Coinbase's fair value at $63 per share, far higher than his previous $46 estimation. He's not ready to change his recommendation, however, which is a bit of a shame for investors as he continues to rate the stock a neutral.

Clinch's latest research note on Coinbase wasn't immediately available. However, it comes just after a very bullish Tuesday for cryptocurrencies in general and related assets specifically. That day Bitcoin, inarguably the bellwether coin of its realm, notched a nearly one-year price high -- $26,500 per coin, to be exact.

That had a knock-on effect with said assets, and as a leading crypto exchange operator, Coinbase certainly qualifies.

Yet cryptocurrencies and, by extension, Coinbase, might be in for some rocky times ahead.

Inflation is still a drag on both the U.S. and the global economy. While investors are hoping for a break or a comedown in the Federal Reserve's recent series of interest rate rises, this is by no means assured. High rates tend to dampen enthusiasm for investments considered to be more speulative, and as a group, cryptos and crypto-adjacent securities are usually lumped into this category.

Eric Volkman has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin and Coinbase Global. The Motley Fool has a disclosure policy.

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Why Coinbase Stock Was a Cryptocurrency Winner on Wednesday - The Motley Fool

Cryptocurrency mixers are definitely advantageous in providing an extra layer of security to crypto assets. However, theres a good reason why they are also frowned upon by a lot of people, especially by the authorities and government regulators.

Cryptocurrency has gained significant popularity over the years as an alternative means of payment and investment. However, as cryptocurrency transactions are not tied to any specific individual or entity, there is a potential risk of privacy infringement. This is where cryptocurrency mixers come in.

A cryptocurrency mixer, also known as tumbler, is a platform that allows users to mix or combine their cryptocurrencies with others to enhance their privacy and anonymity. Essentially, a mixer scrambles the transaction history of a particular cryptocurrency and replaces it with a new one. This makes it difficult to trace the original transaction back to the sender, thus providing a layer of privacy and anonymity.

The mechanics of a cryptocurrency mixer involve users sending their cryptocurrency to the mixers platform. The mixer then blends the cryptocurrency with other users currencies and sends it back to their respective wallets. As a result, the transaction history of the original currency is scrambled and becomes untraceable.

Cryptocurrency mixers can be centralized or decentralized. Centralized mixers are operated by a third-party company while decentralized mixers rely on peer-to-peer networks.

One of the main advantages of cryptocurrency mixers is enhanced privacy and anonymity. Users can transact without worrying about their personal information being exposed to the public.

This is particularly useful for people who want to keep their financial transactions private, such as high-profile individuals or businesses. Cryptocurrency mixers also provide a means for people living in countries with strict financial regulations to transact anonymously.

However, cryptocurrency mixers also have their downsides. One of the main concerns is that they can be used for illegal activities such as money laundering, drug trafficking, and terrorism financing.

The anonymity provided by cryptocurrency mixers makes it difficult for law enforcement agencies to trace the origins of illegal activities. In fact, some countries have banned the use of cryptocurrency mixers entirely to prevent criminal activities.

Another downside of these platforms is that they can be expensive. Cryptocurrency mixers charge a fee for their services, which can range from a fraction of a percent to as high as 10% of the total transaction amount. This can make it costly for people who want to mix large amounts of cryptocurrency.

Furthermore, since these mostly operate on the darknet, users risk entrusting their funds to shady individuals operating the platform.

Cryptocurrency mixers are a useful tool for enhancing privacy and anonymity in cryptocurrency transactions. However, they also have numerous downsides, particularly in their potential use for illegal activities. This is the key reason why regulators frown upon them.

It is essential to weigh the pros and cons before using cryptocurrency mixers and to ensure that they comply with local regulations. Additionally, it is important to note that while cryptocurrency mixers can provide privacy, they do pose cybersecurity issues and your funds may be mixed in with others sourced from illicit activities.

Its best to avoid these altogether as the blockchain alone already comes with tons of security features to protect your crypto assets.

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Essential Stuff You Need To Know About Cryptocurrency Mixers - Blockzeit