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SharpLink Gaming’s Ethereum treasury is set to surpass the $2 billion mark once the company completes its next purchase worth around $200 million. The company announced that it has already entered into a sales agreement worth up to this amount. SharpLink Ethereum Treasury To Top $2 Billion In a press release, the company stated that it
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Authorities in Hong Kong have arrested 12 individuals tied to a cross-border criminal syndicate. The group allegedly laundered over $15 million through cryptocurrencies and hundreds of fraudulent bank accounts.
The Hong Kong Police Force (HKPF) announced that the suspects—nine men and three women aged between 20 and 40—were apprehended during coordinated raids across various districts.
According to a South China Morning Post report, the syndicate allegedly funneled over HK$118 million ($15 million). The funds moved through more than 550 fraudulent bank accounts and virtual asset platforms.
Investigators revealed that the suspects obtained or rented personal details and bank accounts from locals and mainland residents to facilitate their scheme.
During the raids, police confiscated over HK$1.05 million ($134,000) in cash, 560 ATM cards, multiple mobile phones, and numerous financial documents.
Police say the group targeted individuals from mainland China. They helped these individuals open shell accounts in both conventional and digital banks in Hong Kong.
“The syndicate had established an operational base in a flat in Mong Kok since mid-2024. Mainland recruits were housed in this location and awaited instructions to process illicit funds as they flowed into the shell accounts,” Chief Inspector Lo Yuen-shan said.
Once the funds entered these accounts, they were moved through virtual asset exchanges to conceal their origins. The suspects have been formally charged with conspiracy to commit money laundering.
This crackdown adds to a growing list of enforcement actions aimed at curbing crypto-related crimes in the region.
In October 2024, the Hong Kong police reportedly dismantled a similar cross-border operation. The syndicate had defrauded victims of over HK$360 million ($46 million) through romance and pig butchering scams.
That group had recruited university graduates with tech backgrounds and collaborated with foreign cybercriminals to build fake investment platforms.
The authorities stated these efforts support the city’s ambition to become a global hub for virtual assets and protect its residents.
In a recent meeting with Qatari officials, Hong Kong lawmaker Johnny Ng emphasized the city’s potential to lead in Web3 and crypto innovation.
Ng highlighted Hong Kong’s “one country, two systems” model, its legal infrastructure, and international talent pool as key advantages. He said these are crucial for driving global expansion and supporting enterprise growth.
“I believe that Hong Kong’s ‘one country, two systems,’ combined with its professional services, international talent, and robust legal framework, will undoubtedly accelerate its role in connecting globally, while also assisting mainland and local enterprises in rapidly expanding overseas,” He said.
The post Hong Kong Police Busts a Major $15 Million Crypto Laundering Plot appeared first on BeInCrypto.
Crypto prices are surging today, March 6, 2025, with Bitcoin (BTC) hitting a three-day high of $92,000. Ethereum price has also gained by 4.6% to around $2,300. All the top-ten cryptos by market cap have also registered strong gains, with Dogecoin (DOGE) leading the pack with a staggering 10% rise.
Despite these market-wide gains, volatility risks remain. Mt. Gox has moved $1 billion in BTC, triggering concerns of a looming selloff. Retail traders also appear to be leaving the market amid declining volumes on PumpFun and a drastic drop in the meme coin market cap.
Defunct cryptocurrency exchange Mt.Gox has moved 12,000 BTC valued at approximately $1.09 billion. According to Arkham, these coins were moved to a new wallet address, sparking speculation of upcoming creditor repayments.
The Mt.Gox Bitcoin repayments could increase volatility in the crypto market. The creditors that have waited for more than a decade may opt to sell once they receive BTC. This large sell-off could trigger a short-term drop in crypto prices. Moreover, if these coins end up in the market at a time when the demand is low, it could impact Bitcoin’s rally towards $100,000.
Transaction volumes on the Solana meme coin launchpad PumpFun have declined by 94% as most crypto prices tumbled. These volumes are now at their lowest level in nearly a year, suggesting that interest in meme coins is dropping.
PumpFun volumes peaked in January after the release of Solana meme coins like TRUMP and MELANIA. However, interest has gradually faded as these meme coins lost nearly all of their gains barely one month after launching.
These declining volumes have sparked a bearish Solana price prediction after it dropped by 27% in one month. At press time, SOL trades at $149 after a 4.7% drop in 24 hours.
The total meme coin market capitalization has dropped by $59 billion from its 2025 peak of $116 billion amid falling crypto prices. At press time, the total meme coin market cap stood at $57 billion after falling by more than 50% year-to-date.
This decline shows traders have become hesitant to buy meme coins. However, the declining interest is prevalent in newer meme coins, as the hype fades, interest has returned to older meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
At press time, Dogecoin price had posted a notable 10% gain to trade at $0.21, while Shiba Inu price had surged by 5%.
Crypto prices show signs of heightened volatility. The $1 billion BTC transfer by Mt.Gox could stir panic selling and cause Bitcoin to fall below the $90,00 psychological level again. Given that altcoins have been tracking Bitcoin price, signs of weakness could also plunge altcoin prices.
Meme coins are no longer draining liquidity from the broader market. Reduced interest in new meme coins has led to PumpFun transaction volumes falling by 94%. Older meme coins like Dogecoin and Shiba Inu have also seen renewed interest, which may bode well for price.
The post Crypto Prices Today: Mt. Gox Moves $1B BTC, PumpFun Drops 84%, Meme Coins Lose $59B, What’s Next? appeared first on CoinGape.
MicroStrategy is lacing up for a potential Bitcoin purchase after Michael Saylor flashed the tell-tale buy signal. The incoming purchase will be the company’s first in Q2 after pausing Bitcoin purchases at the start of April in an eyebrow-raising move.
MicroStrategy CEO Michael Saylor has dropped clues that the software company will continue its Bitcoin accumulation spree. In an X post, Saylor shared MicroStrategy’s portfolio tracker revealing the company’s Bitcoin holdings and valuations.
Michael Saylor’s previous posts sharing Microstrategy’s portfolio tracker over the weekend have resulted in purchases at the start of the week. Investors are lapping up Saylor’s portfolio tracker post and the accompanying caption as cues for a BTC purchase on Monday.
“No tariffs on Orange Dots,” said Saylor, taking a jibe at brewing tariff wars between the US and China.
MicroStrategy had previously halted its Bitcoin purchase spree at the start of April leading to a slump in MSTR price. At the time, there was significant chatter that MicroStrategy may be forced to offload its Bitcoin holdings to cover obligations following a dip in prices.
Per the portfolio tracker, MicroStrategy holds 528,185 BTC on its balance sheet valued at $44.7 billion. Michael Saylor hinting at a potential Bitcoin purchase follows a small dip in prices with BTC holding the $83K mark.
Saylor’s hint at buying Bitcoin has triggered a small bump in prices as the top cryptocurrency surpassed $83K. However, an actual purchase will trigger a significant price action for BTC in line with previous accumulations.
MicroStrategy’s last Bitcoin purchase of 22,048 BTC jolted the markets in line with investors’ expectations. However, there are fears that macroeconomic events like the US-China tariff war may affect a potential BTC rally following MicroStrategy’s incoming purchase.
Bitcoin price has rebounded after a previous bloodbath, sparking fresh optimism in the markets. Crypto Joao Wedson predicts that Bitcoin is not out of the woods yet and a grim drop to $65K is still a possibility for the top cryptocurrency.
“We’re not ruling out the possibility of the price dipping below $65K, as several metrics point to that region as strong support – such as the True Market Mean Price and Alpha Price, both sitting exactly around $64,700,” said Wedson.
Crypto analyst Doctor Profit warns that a BTC price drop to these levels may force MicroStrategy to sell MSTR to avoid liquidation.
The post Michael Saylor Hints At Another MicroStrategy Bitcoin Purchase, BTC Price To Rally? appeared first on CoinGape.