First Mover Americas: Bitcoin Falls Back to Below $25K

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Bitcoin has retreated to below $25,000 after reaching a nine- month high on Tuesday at about $26,500. The rise for the world’s largest cryptocurrency by market value came minutes after the U.S. Consumer Price Index was released. The index showed that the rate of inflation is slowing down. Meanwhile, altcoins continue to rally, with stacks (STX) taking the lead. It is up 36% over the past 24 hours. The IMX token for Immutable X, a layer 2 scaling tool for non-fungible tokens on the Ethereum blockchain, surged 30%.

Binance.US' deal to buy the assets of bankrupt crypto lender Voyager Digital for $1 billion should be put on hold while key legal objections are ironed out, the U.S. government said in a filing on Tuesday. The move follows an appeal by the U.S. Trustee, a branch of the Department of Justice responsible for bankruptcy cases, which is concerned that the deal would effectively absolve Voyager and its staff from breaches of tax or securities law.

Anchorage Digital is laying off roughly 20% of its staff, or 75 people, because of the slide in the prices of digital assets, according to a report from Bloomberg. The institutional crypto platform and parent company of Anchorage Digital Bank, the first federally chartered crypto bank in the U.S., told Bloomberg that regulatory uncertainty in the U.S. played a role in its decision to cut staff.