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🚨Breaking: India Slaps Binance With $86M Tax Bill

India has issued an $86 million tax bill to Binance, accusing the exchange of failing to register under the Indian GST framework.

The Indian government has issued a substantial tax bill to Binance, the world’s largest crypto exchange. The Ahmedabad unit of the Directorate General of GST Intelligence (DGGI) has sent a show cause notice to Binance, demanding $86,033,159 in Goods and Services Tax (GST).

📈Bitcoin ETF Outflows In Check As US Futures Stage Strong Recovery

Bitcoin ETF outflows dropped on Monday amid the institutional buying despite heavy bloodbath. BTC price surges to $56,000 again in recovery.

Despite the crypto market seeing one of the biggest single-day crashes after the FTX collapse, the Bitcoin ETF outflows dropped on Monday signaling a positive development. On Monday, the net outflows from BTC ETFs were $168 million, dropping from $237 million last Friday. This clearly shows growing institutional confidence in BTC with the asset class recovering y over 10% from the Monday lows.

Bitcoin ETF: Europe’s Capula Management Discloses $500 Mln Holding🔥

The 4th largest asset manager in Europe Capula Management has disclosed it holds almost $500 million exposure to Bitcoin ETF products

The cryptocurrency industry keeps seeing more institutional organizations dive into the sector through spot Bitcoin ETF products. The introduction of spot Bitcoin and Ethereum ETFs in the United States now serves as a vehicle for these institutional investors to obtain a slice of the digital asset ecosystem. Global investment asset manager Capula Management recently revealed that its financial portfolio now contains crypto.

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📊Crypto Prices Today August 6: BTC Regains $55K, ETH, SOL, & XRP Pump📈

The crypto prices today have shown signs of a recovery after the recent black Monday witnessed across the broader markets. Bitcoin’s (BTC) price gained to reach the $55K mark today, whereas leading altcoins Ethereum (ETH), Solana (SOL), and XRP pumped in tandem with the broader trend.

Notably, the global crypto market cap surged 3.97% to $1.97 trillion today. Further, the total crypto market volume over the past day saw a remarkable 73.92% increase to $212.48 billion.

⚠️ Crypto Crash: Liquidations Cross $1 Billion As Japan’s Nikkei Drops 13%

With Japan's Nikkei tanking by more than 13% today, the entire crypto market cap is down by 15%. BTC price dropped all the way to $50,000.

There’s too much blood on Satoshi Street currently with the broader crypto market crashing by 18.1% with more than $400 billion eroded from the crypto market in the last few hours. The crypto sell-off has intensified in the Asian trading hours as Japan’s Nikkei crashed another 13% in the early trading hours on Monday, August 5. The recent crash of Nikkei has extended the index loss to more than 20% from the July top.

📊Crypto Market Recovering From Steep Correction, Here’s Why👀❓

The crypto market is staging a strong recovery amid Japan's Nikkei 12% rebound in a day cooling fears of a US recession. BTC and ETH lead the market-wide rebound..

After a massive stock market and crypto market selloff on Monday, August 5, the broader crypto market has recovered to a good extent with the Bitcoin price recovering 10% from its Monday bottom and surging past $55,400 as of press time. The altcoins have staged an even stronger recovery with more than 5-10% gains.

After crashing more than 13% yesterday, Japan’s Nikkei 225 Index has recovered more than 11% in today’s trading session. This was due to a strong recovery in the US futures market after key macroeconomic data, offering hope amid the market gloom.