Today in crypto, the US Federal Reserve announced the end of its 2023 program aimed at supervising banks' crypto activities, pivoting back to its standard supervisory process. The program was initiated to oversee banks' interactions with crypto-entities but will now be integrated into regular oversight as the Fed strengthens its understanding of related risks. In the Czech Republic, police arrested Tomas Jirikovsky, the founder of the darknet marketplace Sheep Marketplace, for allegedly facilitating a $45 million Bitcoin bribery that led to the resignation of a former Justice Minister. Jirikovsky attempted to evade capture during a police raid. In the US, Treasury Secretary Scott Bessent clarified his position on Bitcoin buying for the Strategic Bitcoin Reserve, stating the department is still exploring budget-neutral strategies to acquire Bitcoin, despite earlier comments suggesting the plan was off the table. This market uncertainty saw Bitcoin's price drop but show signs of recovery shortly after, illustrating the volatility in the cryptocurrency market.

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