#WhaleAlert $BTC
The cryptocurrency market is witnessing a day full of major developments, with unprecedented legal actions in the U.S., new institutional investments, and forecasts for record highs for the world's second-largest digital currency.
The U.S. Department of Justice announced a legal action to seize more than 127,000 Bitcoin, valued at approximately $14.4 billion, in one of the largest fraud cases in the history of the digital sector.
The case targets Cambodian businessman Chen Chi, founder of the Prince Holding Group, who is accused of leading an investment fraud network known as "pig butchering." The department confirmed that the seized Bitcoin is "currently in the possession of the U.S. government," noting that the operation may represent the largest addition to the U.S. national cryptocurrency reserve since its establishment by a decision from President Donald Trump last March.
At the same time, Coinbase Ventures, the investment arm of the U.S. Coinbase platform, announced a new investment in the Indian platform CoinDCX, based on a valuation of $2.45 billion, in a move that confirms Coinbase's efforts to expand its presence in the markets of India and the Middle East.
According to the company, CoinDCX serves over 20 million users in India and the UAE, with annual revenues of $141 million and an annual trading volume of $165 billion.
