? Results of the week: Durov's detention and a new lawsuit against Binance.

Bitcoin price has exceeded $64,000

The first cryptocurrency started the week at the level of $60,000, but already on Monday, August 19, fell below $58,000. In the following days, digital gold traded in the range of $59,000-61,000.

On the night of Saturday, August 24, quotes of the asset overcame the level of $64,000. The first cryptocurrency approached $65,000, but did not break through the psychological mark.

At the time of writing, bitcoin is trading at $64,200.

*?? *Media: Pavel Durov has been detained in France

According to French media, Telegram founder Pavel Durov has been detained at Paris' Le Bourget airport. He may face numerous charges related to terrorism, drug trafficking, fraud and money laundering, among others.

The billionaire's detention was criticized by Tesla and SpaceX founder Ilon Musk, Ethereum co-founder Vitalik Buterin, journalist Tucker Carlson and others. TON and Telegram Wallet promised to continue working.

*? *A new class action lawsuit has been filed against Binance and Changpeng Zhao

A lawsuit has been filed in federal court in Seattle against Binance and its founder Changpeng Zhao. According to the filing, the three crypto investors failed to recover stolen assets because the exchange failed to prevent money laundering.

The document states that the attackers stole cryptocurrencies from the plaintiffs and subsequently used the platform to withdraw funds. The prosecution claims that Binance knew and to some extent encouraged these actions as its lucrative business model.

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*? *Dynamics of returns on various assets since the beginning of 2023!

The undisputed leader in terms of yield is bitcoin, its growth amounted to an impressive 59.75%.

?The closest competitor in terms of yield is silver, which brought investors +24.8%.

The Nasdaq Technology Index posted a gain of 14.16%, gold gave a return of 12.87%, and the S&P 500 Industrial Average gained 11.57%.

? Bitcoin is significantly outperforming traditional financial assets and commodities in the first months of 2024.

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*? *Bitcoin shortage in the market: ETFs are buying 3 times more BTC than miners are mining,
Financial analyst Tedtalksmacro noted increased investor interest in spot BTC-ETFs in the US.

? The last week saw inflows close to $1 billion, the best since March. Funds purchased 21,700 BTC during the month (worth $1.5 billion), which is 3 times the amount of new BTC mined by miners.
The volume of BTC available for purchase on major exchanges is also the lowest since 2017 at 1,918,417 BTC according to CryptoQuant.
? According to analysts, it is becoming increasingly difficult to maintain a bearish sentiment towards bitcoin given these dynamics.

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