Shiba Inu Price is Off 11% at $0.00001118 As Crypto Pulls Back After DOJ Action - Should Buy SHIB on the Dip
Shiba Inu price appears to have taken a breather after a consistent push by bulls for slightly over two weeks. This pressure is not unique to SHIB, as Bitcoin price is down 2.2% in 24 hours to trade at $20,796, while Ethereum price is exchanging hands at $1,527 after sliding 3.3%. The most popular meme coin, DOGE is also in the red and trading at $0.081 after a 5.5% correction in 24 hours.
Investors appear to be holding back the aggressive action witnessed since the New Year, following a major announcement from the United States Justice Department on the international cryptocurrency enforcement action.
In a press conference held on Wednesday afternoon, Deputy Attorney General Lisa Monaco alongside other speakers, including Kenneth Polite Jr. from DOJ’s criminal division, US Attorney Breon Peace of the Eastern District of New York, the Treasury Department Deputy Secretary Wally Adeyemo and Brian Turner, the associate deputy director at the FBI said that they have arrested the founder of Bitzlato Ltd. and charged the firm with money-laundering.
Bitzlato was ordered to shut down operations with immediate effect, with the founder Anatoly Legkodymov extradited to the US. The move was to ensure that all ties Legkodymov had with Russia are severed.
Deputy Attorney General Lisa Monaco reckoned the move comes following coordinated enforcement actions between French and US authorities, including the FBI, thus disrupting “a busy corner of this criminal ecosystem.”
Bitzlato has been on the radar of the Treasury's Financial Crimes Enforcement Network (FinCEN), which had labeled the firm as a “primary money-laundering concern,” enough to isolate any business from the global financial system. The Treasury Deputy Secretary Wally Adeyemo
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