Dogecoin Hits Binance, Adam Back Makes Bullish Case for Bitcoin, SEC Reveals New Anti-Crypto-Fraud Unit

Dogecoin Hits Binance, Adam Back Makes Bullish Case for Bitcoin, SEC Reveals New Anti-Crypto-Fraud Unit

100 Million Dogecoin (DOGE) Transferred to Binance Amid Market Uncertainty

A massive Dogecoin (DOGE) transaction has been detected, with 100 million DOGE—valued at approximately $25.4 million—being transferred to Binance on Feb. 20, according to Whale Alert. Such large transfers to exchanges often indicate a potential sell-off, raising concerns among traders about DOGE’s near-term price movement.

The timing of this transaction is notable, as DOGE recently fell below $0.30 for the first time since November 2024 and dropped another 0.8% after the transfer. Market watchers are debating whether this signals an impending price decline or if it is merely an unrelated transaction. As of the latest data from CoinMarketCap, DOGE is trading at $0.2595, up 1.35% in the past 24 hours.

Adam Back Makes a Bullish Case for Bitcoin as BTC Reclaims $97,000

Blockstream founder Adam Back remains bullish on Bitcoin, highlighting strong fundamental indicators that support continued price growth. In a recent X (Twitter) post, Back argued that many market participants are underestimating Bitcoin's potential, particularly the impact of Bitcoin ETFs, which are seeing demand surpass selling pressure.

Back emphasized that long-term and institutional investors are accumulating Bitcoin, reducing the available supply and increasing buying pressure. He also pointed to growing institutional adoption as another factor that could drive Bitcoin’s value higher in the near future.

At the time of writing, Bitcoin has reclaimed $97,000, with bullish sentiment gaining traction.

SEC Introduces New Anti-Crypto-Fraud Unit

In a significant regulatory move, the SEC has announced the formation of the Cyber and Emerging Technologies Unit (CETU), which will focus on tackling cyber-related fraud and protecting retail investors. This unit replaces the former Crypto Assets and Cyber Unit and consists of 30 legal and fraud specialists from various SEC offices.

The CETU will address key threats such as AI-driven fraud, social media scams, hacking, and retail brokerage account takeovers. The unit will also ensure cybersecurity compliance among regulated entities. Laura D'Allaird, an experienced SEC official who previously co-led the now-defunct Crypto Assets and Cyber Unit, has been appointed as CETU’s head.

With regulatory scrutiny tightening and major market movements unfolding, the crypto industry is entering a critical period that could shape its future trajectory.