Bitcoin climbs back above $17,000

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Alex Dovbnya

Bitcoin Price Managed To Recover The $17,000 Level Despite Uncertainty Surrounding Barry Silberts’ Crypto Empire

The price of Bitcoin, the largest cryptocurrency in the world, once again managed to break above the $17,000 benchmark.

At press time, the flagship cryptocurrency is changing hands at $17,204 on the Bitstamp cryptocurrency exchange.

Bitcoin is up more than 4% from its 2023 low of $16,496 recorded on January 1.

The recent price increase comes amid the deepening cryptocurrency crisis which has been exacerbated by the recent controversy surrounding Barry Silberts Digital Currency Group.

The cryptocurrency giant is reportedly being investigated by US authorities. Internal DCG transfers appear to be the focus of the probe which could portend another black swan event for the cryptocurrency market. As of now, authorities have yet to file an indictment against Silberts’ crypto empire.

As reported by U.Today, Silbert recently had a bitter falling out with Gemini co-founder Cameron Winklevoss, with the latter accusing the crypto king of engaging in bad faith tactics regarding the $900 million that Genesis, a subsidiary of DCG, owes Gemini Earn customers.

Silbert played down the accusations, but there’s still a lot of uncertainty surrounding DCG.

As reported by U.Today, DCG recently decided to shut down its wealth management unit.

Meanwhile, billionaire Mark Cuban recently predicted that another cryptocurrency scandal could shock the industry in the near future.

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