U.Today Prepares the Top Three News Stories Over the Past Day

100,000,000 Dogecoin (DOGE) hits world's largest crypto exchange. Adam Back makes bullish case for Bitcoin as BTC price reclaims $97,000. SEC reveals new anti-crypto-fraud unit: Details

Top crypto news: 100,000,000 Dogecoin hits Binance, Adam Back bullish on BTC at $97,000 and SEC unveils anti-crypto-fraud unit

Here's a summary of the top crypto news stories over the past day.

1. 100,000,000 Dogecoin hits world's largest crypto exchange

As reported by Whale Alert, on Feb. 20, a substantial Dogecoin transfer has been spotted, carrying dog-themed meme coins to Binance. The transaction carried 100 million DOGE, valued at approximately $25.4 million. Usually, such large crypto moves to exchanges indicate a potential sell-off, while withdrawals suggest that investors are holding onto their assets. The timing for this transaction is not great; DOGE has been struggling following a recent drop below $0.30 for the first time since November 2024, and it slipped another 0.8% after the transfer. The situation made market watchers wonder whether this move signals an impending price drop for DOGE, or if it is simply an out-of-context transfer. At press time, DOGE is changing hands at $0.2595, up 1.35% over the past 24 hours, per CoinMarketCap.

2. Adam Back makes bullish case for Bitcoin as BTC price reclaims $97,000

In a recent X post, Blockstream founder Adam Back addressed those crypto community members "who aren't bullish enough" on Bitcoin, providing some fundamentals data to back his confidence in Bitcoin's potential for sustained growth. Back pointed out that the demand for Bitcoin ETFs is currently outpacing selling pressure, which, in his opinion, will create buy pressure and have a positive impact on prices. The Blockstream founder emphasized that many market participants are underestimating the bullish implications of this dynamic, as once Bitcoin holders sell their BTC, they cannot resell them. Additionally, Back noted that long-term and institutional investors are accumulating Bitcoin, reducing its available supply and contributing to upward price pressure. Another catalyst for Bitcoin’s price growth is the growing institutional adoption. Back believes that these factors could significantly drive up Bitcoin's value in the near future.

3. SEC reveals new anti-crypto-fraud unit: Details

According to the official press release by the SEC, the agency has created the Cyber and Emerging Technologies Unit (CETU) that will focus on combating cyber-related misconduct and protecting retail investors from bad actors in the tech space. This unit replaces the former Crypto Assets and Cyber Unit and comprises about 30 legal and fraud specialists from various SEC offices. The CETU will address a range of issues, including fraud fueled by AI, social media scams and hacking to obtain sensitive financial information. Additionally, it will scrutinize takeovers of retail brokerage accounts, crypto scams and ensure compliance with cybersecurity regulations among regulated entities. The lead of the new unit is Laura D'Allaird, who has extensive experience within the SEC; previously, she was a co-chief of the now-defunct Crypto Assets and Cyber Unit. She has also served as counsel to Commissioner Jaime Lizárraga and the director of enforcement.