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Ethereum corrects 4% on Friday amidst a market-wide sell-off in crypto. Derivatives data shows traders are seeking downside protection, with the shift to a bearish sentiment towards Ether. As institutional investors pull capital from Bitcoin ETFs, it ushers in selling pressure across BTC and altcoins. Ethereum ($ETH ) derivatives traders expect a decline in Ether price in the coming weeks. Ether is trading above $2,200 on Friday as Bitcoin gains ground after a flash crash under the $80,000 level. Bitcoin is back above $83,500 leading a market-wide recovery. The open interest in Ethereum is recovering slowly after the market-wide de-leveraging this week. Ethereum price declines, derivatives traders bearish Ethereum is trading at $2,214, correcting 4% on the day. The largest altcoin is highly correlated to Bitcoin, therefore the BTC flash crash under $80,000 and the subsequent recovery influenced the Ethereum price trend. While Ether struggles to gain ground among traders, derivatives data from Coinglass shows bearish bets. The long/short ratio, a metric that compares the number of long positions against short ones, reads 0.9562. A value less than one indicates a higher expectation of a price decline, as it signals a larger count of short positions in Ether. Nick Forster, Founder of Derive.xyz, evaluated the derivatives data in the Ethereum market and observed that the 7-day at-the-money (ATM) implied volatility (IV) has fallen from a high of 84% from earlier in the week to the current level of 65%. A decline in 7-day ATM IV is a sign of temporary volatility stabilization or a lower expectation of price swings in Ether.

Olumide Osunkoya has been sentenced to four years in prison for illegally operating cryptocurrency automated teller machines in the United Kingdom. The 46-year-old faced charges related to running crypto ATMs through his company, GidiPlus, with machines installed at multiple locations across the UK. According to authorities, Osunkoya set up a £2.5 million ($3.2 million) crypto ATM business despite being denied registration by the Financial Conduct Authority. The FCA filed charges against him in early September 2024, and he pleaded guilty to six counts on September 30, 2024. On Feb. 28, the court convicted him of unregistered crypto activity, forgery, possession and use of false identity documents, and criminal property possession. Court documents revealed that Osunkoya operated his unregistered crypto business between December 2021 and March 2022. The FCA noted that he made significant profits, charging markup fees between 30% and 60% on transactions. “Your decision to continue to operate illegally was an act of deliberate and calculated defiance to the regulator,” His Honour Judge Perrins said during sentencing. The judge further noted that Osunkoya went to “great lengths to create a false identity,” making his case more than a mere regulatory breach. “This is the UK’s first criminal sentencing for unregistered crypto activity and sends a clear message: those who flout our rules, seek to evade detection and engage in criminal activity will face serious consequences,” said Therese Chambers, executive director of enforcement at the FCA. Osunkoya’s guilty sentence comes as the FCA looks to intensify its crackdown on illegal crypto related operations and services. The financial markets watchdog mandates all providers seeking to offer digital asset services and products in the country to register. FCA also requires that providers adhere to anti-money laundering guidelines and checks, a fact the agency says the crypto ATM provider failed to comply with. Per the markets regulator, its crackdown on illegal crypto teller machines saw the number of UK crypto ATM locations on CoinATMRadar fall from 80 in 2022 to zero in 2024. Details on the CoinATMRadar website shows there are currently over 37,200 crypto ATMs in 69 countries. Most of these machines are installed in the United States, which has over 29,700 locations.

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These speculations are everywhere related to cryptocurrency in the market and media Most of them are true. Everyone is launching a prepaid crypto card service, allowing users to withdraw funds directly from ATM card in one click and then use them for everyday transactions.  It's a mass demand apart. $BTC king coin in this decade.

On February 25th of 2025, Illinois Senator Dick Durbin joined three Democratic colleagues to introduce the Crypto ATM Fraud Prevention Act in the United States Senate. The proposed legislation seeks simultaneously to improve consumer protection safeguards while setting stronger rules for operators of cryptocurrency automatic teller machines to reduce fraud cases. During his Senate address, Senator Durbin showcased his opposition to cryptocurrency by calling for safety regulations to protect consumers from the unregulated cryptocurrency market . Durbin described the key measures contained in the unpublicized bill when he spoke on the Senate floor. The proposed legislation mandates that crypto ATM operators take proactive measures to prevent fraud. Operators would be required to display clear warnings about potential scams and employ analytics to detect suspicious activities. Some operators have already adopted such practices, setting a precedent for industry-wide standards. This legislation establishes specific protection measures for minority groups who fall into two distinct categories which include elderly citizens and young users of cryptocurrency. During their first two weeks of using the system operators would limit new users to make daily deposits of $2,000 which totals to $10,000 in maximum deposits. The bill requires operators to validate transactions over $500 by making a live telephone call to the customer to stop typical scams that involve attackers keeping a continuous phone connection with their targets. Additionally, the bill stipulates that all customers reporting fraudulent transactions to law enforcement within 30 days are eligible for full refunds. It also requires crypto ATMs to provide paper receipts containing information beneficial to law enforcement investigations. After Durbin and six other Democratic senators wrote their September letter to leading crypto ATM providers regarding their anti-fraud measures this legislative bill was created. The Federal Trade Commission reports that crypto ATMs have witnessed a substantial increase in fraud reports because the United States currently hosts more than 31,000 machines. In 2023 consumers experienced $100 million in crypto ATM fraud losses and during the first half of 2024, they lost another $65 million with each fraud impact totaling $10,000. People aged 60 or above faced three times more chances of becoming victims of scams. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.