Cryptocurrencies Today: News, Analysis, and Predictions ☀️

PEPE remains bullish despite recent 20% drop, but…

May 19, 2024 | 14:00 pm

PEPE looks bullish on the higher timeframes, but the tables turn when you look at the memecoin from another angle.

US Congress Passes First Standalone Crypto Legislation

May 19, 2024 | 13:38 pm

The U.S. Congress has passed its first standalone crypto legislation, which aims to overturn the controversial U.S. Securities and Exchange Commission (SEC)’s SAB 121 rules regarding crypto assets. However, President Joe Biden has threatened to veto this decision, citing concerns about financial stability and market uncertainty. ‘We Are Just Getting Started’ In a historic move, […]

Shiba Inu Could Hit Insane ‘$0.001 SHIB Price’ and Spark Another Wild Millionaire Boom

May 19, 2024 | 13:23 pm

The idea of SHIB price reaching $0.001 has continued to make rounds, contributing to the ongoing speculation around Shiba Inu.

Mike Novogratz Says Bitcoin Won’t Reach a New All-Time High Till This Happens

May 19, 2024 | 13:10 pm

In a candid interview on Galaxy Digital's podcast, Novogratz sends a cautious yet insightful warning about the Bitcoin price movement.

Ripple CEO Hails XRPL Q1: AMM Launch Marks Key Milestone in XRPL’s Q1 Performance

May 19, 2024 | 13:02 pm

Ripple released its Q1 2024 report this weekend, showing huge growth with a surging trading volume and on-chain transaction activity. The launch of the AMM positions Ripple as a major contender in the DeFi market, joining Uniswap and PancakeSwap Ripple, the American fintech company behind the cryptocurrency Ripple just released the highly anticipated Q1 2024 [...]

Cardano network activity on the rise, but will it be enough for ADA?

May 19, 2024 | 13:00 pm

Activity on the Cardano network experienced a notable increase in recent days.

Bitcoin (BTC) Mirroring Pre-Parabolic Rally That Led to Over 1,200% Gains in 2017, According to Crypto Analyst

May 19, 2024 | 13:00 pm

Bitcoin’s (BTC) current market structure looks similar to 2017, just before its massive 1,200% rally to its previous record high of $20,000, according to widely followed crypto analyst TechDev. The pseudonymous analyst shares with his 450,000 followers on the social media platform X a chart that suggests the current market cycle has been strikingly reminiscent […] The post Bitcoin (BTC) Mirroring Pre-Parabolic Rally That Led to Over 1,200% Gains in 2017, According to Crypto Analyst appeared first on The Daily Hodl.

ChatGPT-4o Makes Crazy Prediction for Solana — Will SOL Live Up to the Hype?

May 19, 2024 | 12:19 pm

Solana (SOL) has been a standout performer in the crypto market, riding a wave of bullish momentum and capturing the attention of investors and traders alike.

Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over 11,000 Miners to Face the Nation’s Energy Crisis

May 19, 2024 | 12:07 pm

The Venezuelan National Power Ministry announced a special operation to disconnect all bitcoin mining farms from the grid. Authorities have seized over 11,000 bitcoin miners as the government seeks to reduce the power usage from high-power customers siphoning energy from the national electric system. Venezuelan Authorities Seize and Disconnect Over 11,000 Bitcoin Miners Amidst Energy […]

Crypto market’s weekly winners and losers – LINK, BONK, WLD, WIF

May 19, 2024 | 12:00 pm

Here is how some of your favorite assets concluded the week.

SRX token Continues Meteoric Rise Fueled by DePin Adoption and Market Recognition

May 19, 2024 | 11:52 am

The StorX Network, represented by its token $SRX, is currently experiencing a significant surge in value, reaching $0.042 per token. This rise, reflecting a 10% increase over the past week and an impressive 158% surge over the last year, is attributed to the growing adoption of its utility-driven DePin projects and increasing market recognition. The […]

Crypto Champions: Rollblock Amongst 3 Tokens Ready to Dominate on the Market’s Next Upswing

May 19, 2024 | 11:48 am

With cryptocurrency experts predicting a bull run this summer, traders are looking for projects that could potentially soar. Shiba Inu, Pepe, and Rollblock are three tokens currently in the spotlight. After a year of ecosystem growth, experts predict that Shiba Inu could see huge gains, while Pepe has historically performed strongly during market rallies. Meanwhile, […]

DOJ Charges Two Chinese Nationals for Allegedly Laundering Proceeds of $73,000,000 ‘Pig Butchering’ Crypto Scam

May 19, 2024 | 11:45 am

The U.S. Department of Justice (DOJ) is charging two Chinese nationals for allegedly running a pig butchering crypto scam and laundering tens of millions of dollars. In a new press release, the DOJ says that Chinese citizens Daren Li and Yicheng Zhang were the masterminds of the pig butchering scam, which involved sending unsolicited messages […] The post DOJ Charges Two Chinese Nationals for Allegedly Laundering Proceeds of $73,000,000 ‘Pig Butchering’ Crypto Scam appeared first on The Daily Hodl.

Crypto Institutions Gobble Up Billions In Bitcoin ETFs, Stockpiling 250,000 BTC – Details

May 19, 2024 | 11:30 am

The tides are turning in the cryptocurrency world, with institutional investors making a big splash in Bitcoin exchange-traded funds (ETFs) while retail investors seem content to bob on the sidelines. A recent report by IntotheBlock paints a picture of a two-tiered market, where hedge funds and even pensions are accumulating Bitcoin through ETFs, but the […]

Venezuela Cracks Down on Crypto Mining Farms Amid Energy Crisis

May 19, 2024 | 11:02 am

The Venezuelan government has stated its intention to detach cryptocurrency mining farms from the power grid in order to control the country’s excessive energy consumption and guarantee a steady supply of electricity to its residents. In an effort to combat corruption, the government recently confiscated 2,000 crypto mining devices, prompting

PEPE: Profit-taking sparks price fall? Investors in profit reach 92%

May 19, 2024 | 11:00 am

Selling pressure on PEPE increased over the last few days, which might have resulted in a price correction.

Crypto price prediction: Floki, BitBot, Arweave

May 19, 2024 | 11:00 am

Cryptocurrency prices did moderately well last week as investors embraced a risk-on sentiment in the financial market. Bitcoin jumped to above $67,000 for the first time in over a month while BitBot continued its token sale, raising millions of dollars. This article focuses on BitBot, Floki, and Arweave. Arweave price forecast Arweave is one of […] The post Crypto price prediction: Floki, BitBot, Arweave appeared first on CoinJournal.

Wells Fargo Accused of ‘Aiding and Abetting’ Alleged $300,000,000 Ponzi Scheme With More Than 1,000 Victims: Report

May 19, 2024 | 10:52 am

A new lawsuit accuses Wells Fargo of monitoring “both sides” of an alleged $300 million Ponzi scheme and doing nothing to stop it. Plaintiffs for the lawsuit accuse the US bank of unjust enrichment, negligence, aiding and abetting fraud and breaching fiduciary duties, reports the Sun Sentinel. In July of 2021, the Florida Office of […] The post Wells Fargo Accused of ‘Aiding and Abetting’ Alleged $300,000,000 Ponzi Scheme With More Than 1,000 Victims: Report appeared first on The Daily Hodl.

Peter Schiff Calls Bitcoin ‘Dead’, Highlights Silver’s Outperformance

May 19, 2024 | 10:46 am

Despite Bitcoin’s recent surge to new all-time highs, renowned financial analyst Peter Schiff has once again shook up the cryptocurrency market by claiming the cryptocurrency is ‘dead’. In his most recent comments, Schiff, who is typically pessimistic about cryptocurrency, focused on the recent performance of bitcoin relative to silver, drawing

Solana Blasts Past Resistance: Buckle Up For $330 Breakout – Analyst

May 19, 2024 | 10:30 am

Solana (SOL) is riding a wave of investor confidence, with its price steadily climbing towards uncharted territory. This bullish trend has analysts scrambling for their charts and telescopes, predicting a potential price explosion that could propel SOL to its all-time high (ATH) and beyond. However, amidst the excitement, some experts urge caution, reminding investors that [...] The post Solana Blasts Past Resistance: Buckle Up For $330 Breakout – Analyst appeared first on Crypto Breaking News.

Ethereum Poised For Major Breakout as Analysts Eye $4,600 Target

May 19, 2024 | 10:22 am

Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, has been on a rollercoaster ride in recent months. After a period of consolidation, analysts are now pointing to a potential breakout that could trigger significant price gains. ETH has been trading within a descending wedge pattern, a technical indicator often seen as a bullish reversal […]

Over $23M in Casascius Bitcoins Redeemed in 2024, Leaving $2.7B Untouched

May 19, 2024 | 10:20 am

As of the latest data, 352.3 BTC valued at $23.5 million linked to Casascius physical bitcoins have been redeemed this year. Despite 155 physical bitcoin peels, an estimated $2.7 billion in value remains unclaimed and associated with these tangible assets. 18,741 of Mike Caldwell’s Casascius Coins Still Remain Unpeeled In the early days, Mike Caldwell […]

Millennium Management Reveals $2 Billion Bitcoin ETF Holdings

May 19, 2024 | 10:17 am

International hedge fund Millennium Management has disclosed nearly $2 billion in spot Bitcoin ETF holdings in Q1/2024, according to its 13F filing with the U.S. Securities and Exchange Commission (SEC). The post Millennium Management Reveals $2 Billion Bitcoin ETF Holdings appeared first on CoinChapter.

Binance Combats Address Poisoning Scams After $68M Loss

May 19, 2024 | 10:08 am

Binance, the world’s largest cryptocurrency exchange, has developed a new algorithm to tackle "address poisoning." So far, the algorithm has detected over 13.4 million spoofed addresses on the BNB Smart Chain and 1.68 million on the rivaling Ethereum blockchain. The post Binance Combats Address Poisoning Scams After $68M Loss appeared first on CoinChapter.

Bitcoin soars as exchange withdrawals dip: Further gains for BTC?

May 19, 2024 | 10:00 am

Despite the considerable increase in price, BTC withdrawals from exchanges remained relatively subdued.

With a $28M Presale BlockDAG Tops 2024’s Crypto Picks Amid BNB Chain Rewards & SHIB Price Predictions

May 19, 2024 | 10:00 am

As the cryptocurrency landscape evolves, investors are keenly watching new developments across various tokens. BNB Chain’s Airdrop Alliance Chapter 2 promises enticing rewards, and Shiba Inu (SHIB) is on the brink of a potential 20% surge if key resistance levels are broken. However, BlockDAG is making the most significant waves

BlockDAG’s Rise to Fame: Why It’s Surpassing Cardano Price Forecast & Cosmos in 2024

May 19, 2024 | 10:00 am

Investors are closely watching key levels and strategic partnerships within the crypto market to pinpoint promising opportunities. Cosmos (ATOM) recently rebounded by over 20% from its $7.26 support, showing resilience and a strong ROI. Cardano is making strides through a partnership between EMURGO and GSR, aiming to boost its ecosystem and potentially reaching $0.60 soon. [...]

The dilemma of global web3 integration: Will the complexity of web3 win over web2?

May 19, 2024 | 10:00 am

The following is a guest post from Bakhrom Saydulloev, Product Lead at Mercuryo. Statistics works in a funny way. When experts feel the need to prove the growing acceptance and awareness of Web3, they over-simplify the concept to say, for instance: “more than 90% of people have heard of crypto, hooray!” And yes, that is, […] The post The dilemma of global web3 integration: Will the complexity of web3 win over web2? appeared first on CryptoSlate.

Bankrupt Genesis Global Receives Court Approval for $3,000,000,000 Payout to Customers

May 19, 2024 | 09:55 am

A US bankruptcy court has just greenlighted the liquidation plan of crypto lender Genesis Global to return about $3 billion to its creditors. In a memorandum decision, Judge Sean Lane says that Genesis’ Chapter 11 liquidation plan is reasonable and has been proposed in good faith. “The Court finds that the Plan should be confirmed […] The post Bankrupt Genesis Global Receives Court Approval for $3,000,000,000 Payout to Customers appeared first on The Daily Hodl.

Venture Capital Firms Put Over $1B in Crypto Sector Second Month in a Row

May 19, 2024 | 09:49 am

Venture capital firms invested more than $1.02 billion in the crypto sector in April, showing strong confidence for the second month in a row. While slightly lower than March’s $1.09 billion, which spanned 186 rounds, April's investments were distributed across 161 rounds. This consistent investment level hasn't been observed since the end of 2022. The post Venture Capital Firms Put Over $1B in Crypto Sector Second Month in a Row appeared first on CoinChapter.

Cryptoquant CEO Predicts Bull Run Midpoint as Bitcoin Recovers

May 19, 2024 | 09:38 am

The price of bitcoin experienced a challenging May, dipping below $60,000 to reach a low of $56,500 per unit on May 1, 2024. Currently valued at $66,900 per unit, bitcoin’s price is showing improvement as June approaches. The founder of the onchain and market data platform Cryptoquant has noted that the bull run is at […]

Remembering A $110M Bitcoin Mistake

May 19, 2024 | 09:13 am

Thirteen years ago, Greg Schoen made a notorious decision. On May 17, 2011, he sold 1,700 BTC for $510 at the rate of $0.30 per BTC. As of May 19, those Bitcoins would be worth over $110 million, assuming a Bitcoin price of around $64,700 per BTC. The post Remembering A $110M Bitcoin Mistake appeared first on CoinChapter.

BlockDAG’s Accelerated Mainnet Launch, SHIB Whale Movement & Toncoin Price Update

May 19, 2024 | 09:12 am

Crypto enthusiasts constantly seek the next big opportunity in today’s rapidly advancing cryptocurrency sphere. Among the notable contenders, BlockDAG emerges as a revolutionary force, not just participating in the market’s evolution but actively shaping its future. With its mainnet launch fast-tracked by four months, BlockDAG’s proactive approach is setting new standards in blockchain technology, making […]

How Bitcoin can help Solana rise to a new ATH

May 19, 2024 | 09:00 am

Solana’s journey to a new ATH might hinge on Bitcoin surpassing the $73,750 mark.

Will Washington Wreck Or Welcome Crypto? Looming Vote Holds Bitcoin’s Fate

May 19, 2024 | 09:00 am

With Bitcoin rocketing in value and Wall Street circling like a hawk, the US crypto industry is holding its breath as a crucial vote approaches in Washington next week. The Financial Innovation and Technology for the 21st Century Act, or Fit21, could reshape the regulatory landscape for digital assets, potentially welcoming the industry into the […]

Reddit Stock Jumps After OpenAI Partnership Announcement

May 19, 2024 | 08:59 am

Reddit's stock RDDT jumped 15.90% in the week ending May 17, with investors picking their bullish cues from its data-sharing agreement with OpenAI, the creator of the artificial intelligence chatbot ChatGPT. The post Reddit Stock Jumps After OpenAI Partnership Announcement appeared first on CoinChapter.

10 US Spot Bitcoin ETFs Absorbed 548,556 BTC Worth $36 Billion in 128 Days

May 19, 2024 | 08:43 am

According to recent data, the ten spot bitcoin exchange-traded funds (ETFs), excluding Grayscale’s Bitcoin Trust (GBTC), acquired 548,556.62 BTC from the market over the last 128 days. This acquisition means the ten newly introduced spot bitcoin ETFs collectively hold 2.78% of the crypto asset’s current circulating supply. Besides Grayscale’s Pre-Existing Fund, Blackrock’s IBIT Leads New […]

Top Crypto News Of The Day: Hong Kong e-CNY, Binance-Taiwan Partnership, and More!

May 19, 2024 | 08:41 am

Here is the top crypto news of the day curated by CoinChapter.com. The post Top Crypto News Of The Day: Hong Kong e-CNY, Binance-Taiwan Partnership, and More! appeared first on CoinChapter.

PawFury(PAW), Shiba Inu (SHIB), Solana (SOL) Top 3 Cryptocurrencies to Invest in 2024

May 19, 2024 | 08:30 am

The post PawFury(PAW), Shiba Inu (SHIB), Solana (SOL) Top 3 Cryptocurrencies to Invest in 2024 appeared first on Coinpedia Fintech News In 2024, thousands of opportunities continue to open up for investors in the cryptocurrency market. By this time, experienced participants are looking for the most profitable tokens that can be invested. Since the giants – Bitcoin and Ethereum – have long since taken a significant percentage of the entire market, in this part, the authors …

Bitcoin climbs above $67K: Will BTC cross $100K this time?

May 19, 2024 | 08:00 am

Historical data suggests that BTC’s price might soon touch $100k, but there are a few concerns.

Bitcoin Boom: Price Explodes Past $67,000 As Investor Confidence Returns

May 19, 2024 | 08:00 am

The cryptocurrency market has been shaken by turbulence over the past year, but Bitcoin is now staging a remarkable comeback, breaking past the $67,000 mark for the first time since late 2023. This unexpected surge has electrified the Bitcoin community, sparking widespread optimism and a sense of renewed hope among investors. Related Reading Confidence In [...] The post Bitcoin Boom: Price Explodes Past $67,000 As Investor Confidence Returns appeared first on Crypto Breaking News.

Exploring Crypto Market Dynamics: Shiba Inu, Ethereum, and Furrever Token

May 19, 2024 | 07:53 am

The post Exploring Crypto Market Dynamics: Shiba Inu, Ethereum, and Furrever Token appeared first on Coinpedia Fintech News During a week marked by shifts in the cryptocurrency realm, Ethereum soared past the $3,000 threshold, signalling robust bullish sentiment. In contrast, Shiba Inu, a prominent meme coin, grapples with recovery amid the recent market volatility. Amid these shifts, Furrever Token, a newcomer, achieves a notable milestone by securing $1.1 million in its presale within …

Vitalik Buterin Outlines Improvements for Ethereum’s Decentralized Future

May 19, 2024 | 07:39 am

Ethereum co-founder Vitalik Buterin has proposed several enhancements aimed at improving the network’s permissionlessness and decentralization. The proposed changes focus on tackling issues such as miner extractable value (MEV), hardware requirements, and staking dynamics. Ethereum Co-Founder Proposes Enhancements to Boost Ethereum’s Decentralization Vitalik Buterin, Ethereum co-founder, recently shared his vision for the future of Ethereum’s […]

Analyst Says Markets ‘100% Underestimating’ Odds of Ethereum ETF Approval, Warns Top for Memecoins in Sight

May 19, 2024 | 07:30 am

A closely followed crypto analyst thinks that market participants are too pessimistic about the odds that regulators will green-light a spot Ethereum (ETH) exchange-traded fund (ETF). Pseudonymous analyst Altcoin Psycho tells his 501,800 followers on the social media platform X that people are not bullish enough on ETH right now. “Markets 100% underestimating odds of […] The post Analyst Says Markets ‘100% Underestimating’ Odds of Ethereum ETF Approval, Warns Top for Memecoins in Sight appeared first on The Daily Hodl.

IBC to Ethereum: Building the interconnected Internet of Blockchains

May 19, 2024 | 07:30 am

Since the advent of Bitcoin in 2009 and the explosion of innovation that followed, the web3 industry has faced many challenges. Beyond dealing with regulators, improving UX, and weeding out bad actors, blockchain engineers continue to tackle two major hurdles: scalability and interoperability. While many Layer 2s are working to scale Layer 1s like Bitcoin […] The post IBC to Ethereum: Building the interconnected Internet of Blockchains appeared first on CryptoSlate.

The End Seems Near On SEC, And XRP Lawsuit; Rebel Satoshi ($RECQ) Presale Goes For The Best Market Gains

May 19, 2024 | 07:23 am

The post The End Seems Near On SEC, And XRP Lawsuit; Rebel Satoshi ($RECQ) Presale Goes For The Best Market Gains appeared first on Coinpedia Fintech News Experts believe the lawsuit between Ripple and the SEC may be drawing to a close. Rebel Satoshi’s $RECQ token becomes the best coin to invest in after a 120% surge. As the legal battle between the SEC and Ripple nears a resolution, the SEC’s final response challenges Ripple’s assertions in the remedies brief. With ongoing …

XRP Sees ‘Death Cross & AI Altcoin Set For Monumental Jump

May 19, 2024 | 07:20 am

The post XRP Sees ‘Death Cross & AI Altcoin Set For Monumental Jump appeared first on Coinpedia Fintech News XRP is not out of the woods yet based on the materialization of a death cross, which is a bearish formation that signals a possible sell-off. Meanwhile, Borroe Finance ($ROE) is eyeing exponential growth as its airdrop gets underway in less than 8 days as the AI altcoin continues to showcase its prowess in the …

dogwifhat [WIF] sees $1M in long liquidations as price tumbles: What now?

May 19, 2024 | 07:00 am

The price of WIF plummeted significantly in the past few days, leading to a surge in long liquidations.

Will Polygon Get Back To $1? Or Are Rollblock and DOGE More Likely To Break The Dollar Mark?

May 19, 2024 | 06:56 am

The post Will Polygon Get Back To $1? Or Are Rollblock and DOGE More Likely To Break The Dollar Mark? appeared first on Coinpedia Fintech News Polygon has been one of the worst-performing cryptocurrencies over the last year. Its value has plummeted by 20%, and Polygon’s (MATIC) trading volume has crashed as investors lose confidence. With a potential bull run incoming, investors are asking if Polygon will recover or if Dogecoin (DOGE) and Rollblock (RBLK) could be stronger investments. At first …

Are XRP And TIA Becoming Worthless? If You’re Looking For A Hot New Investment, Look No Further

May 19, 2024 | 06:53 am

The post Are XRP And TIA Becoming Worthless? If You’re Looking For A Hot New Investment, Look No Further appeared first on Coinpedia Fintech News Are XRP and TIA becoming worthless? Maybe that was a little too harsh. One thing’s for sure, though. Both Ripple and Celestia have lost significant appeal ever since reaching their respective peaks. Absurd XRP price prediction figures aside, Ripple is a far cry from its 2021 all-time highs, while Celestia is no longer the hot …

Solana Eyes a New All-Time High, Ethereum Finally Breaks Over $3000, and Furrever Token Charms the Market with High ROI

May 19, 2024 | 06:49 am

The post Solana Eyes a New All-Time High, Ethereum Finally Breaks Over $3000, and Furrever Token Charms the Market with High ROI appeared first on Coinpedia Fintech News Amidst the dynamic realm of digital currencies, three prominent entities have seized considerable attention. Solana stands at the cusp of attaining a fresh all-time pinnacle, underscoring its potential for sustained ascension. Ethereum’s triumphant breach of the $3000 frontier signifies a momentous juncture for investors, heralding a trajectory towards even loftier accomplishments. Concurrently, Furrever Token captivates …

Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BTC

May 19, 2024 | 06:45 am

Based on the latest data, the well-known Genesis address owned by Satoshi Nakamoto now holds over 100 BTC after someone inadvertently sent 0.10754671 BTC, valued at $7,211, to the wallet. The current value of the wallet, which has never been spent, is estimated at $6.75 million. Another Unintentional Bitcoin Transaction Pushes up the Value of […]

Excitement as Bull Market Nears – Top Coins Under $1 Worth Keeping On Your Radar

May 19, 2024 | 06:41 am

The post Excitement as Bull Market Nears – Top Coins Under $1 Worth Keeping On Your Radar appeared first on Coinpedia Fintech News Cryptocurrency trading has become one of the best ways to achieve financial prosperity. In the crypto market, people have invested a small amount of funds to reap huge profits when the price of tokens skyrockets. As the bull market nears, identifying the top crypto coins that can give these sorts of huge returns is always …

Morgan Stanley Bullish On Bitcoin, Can Kangamoon Achieve Mainstream Status?

May 19, 2024 | 06:30 am

The post Morgan Stanley Bullish On Bitcoin, Can Kangamoon Achieve Mainstream Status? appeared first on Coinpedia Fintech News Although Bitcoin (BTC) has been through a rough patch over the last couple of months, Morgan Stanley remains bullish on the leading crypto. The leading global wealth management firm announced a $270 million investment in Bitcoin ETFs, followed by a BTC price rebound. Meanwhile, KangaMoon (KANG) has been generating excitement for its new Social-Fi protocol. …

POND’s Trendline Battle: Analyst Predicts Potential Surge

May 19, 2024 | 06:30 am

In the fast-moving world of cryptocurrency, POND is in the spotlight as well-known crypto analyst World of Charts provides important information on its future direction. In a recent post on the X platform, the analyst pointed out that POND should clear a very important trendline to keep its upward movement. World of Charts stated that […]

EOS Blockchain Gearing Up for a Strong Return in 2024, Messari Research Reports

May 19, 2024 | 06:28 am

The once magnificent EOS blockchain is plotting a major comeback through a network upgrade in July. The protocol is eyeing a major DeFi overhaul that will connect it with Bitcoin to drive its utility. The EOS blockchain, after years of stagnation, is set for a significant comeback in 2024, according to recent research by Messari. [...]

Update: Kraken says no plans to delist USDT in Europe

May 19, 2024 | 06:01 am

Kraken is exploring all options to continue offering USDT for EU customers. Mark Greenberg, Kraken’s Global Head of Asset Growth and Management, confirmed this via a post on X. Kraken is not looking to end support for Tether (USDT) in the European Union, a company official has confirmed. A Bloomberg report on Friday stated that […] The post Update: Kraken says no plans to delist USDT in Europe appeared first on CoinJournal.

BONK rallies nearly 30%, but why the memecoin can turn bearish soon

May 19, 2024 | 06:00 am

BONK saw a bounce from the mid-range level on the 13th of May to reach the two-month range highs.

Bitcoin Whales Balance Returns To Pre-FTX Collapse Levels – Impact On BTC Price?

May 19, 2024 | 06:00 am

Heading into the year 2024, Bitcoin spot ETFs (exchange-traded funds) and the halving event were arguably the biggest narratives in the crypto space. The Securities and Exchange Commission (SEC) approved the first BTC spot products in the US early on, driving the coin’s price to a new all-time high. The halving event, on the other […]

Despite FTX’s Collapse, FTT’s $535M Market Cap Highlights Crypto Absurdity

May 19, 2024 | 05:50 am

Ten days ago, the FTX estate overseeing the bankrupt company’s proceedings informed customers they would receive more than 100% repayment. Following this announcement, the exchange token FTT from the defunct trading platform rose above $2 per unit. Astonishingly, despite being tied to a failed crypto exchange, this token still holds a market valuation of $535 […]

Tether CEO Hints at Development of Global P2P Financial Markets Terminal

May 19, 2024 | 05:30 am

Tether CEO Paolo Ardoino stated that the stablecoin company might put “significant resources” into developing a global peer-to-peer (P2P) financial markets terminal. Ardoino explained that decentralization in the payments area, where humanity is “getting rid” of the monopolistic intermediaries, could also improve the financial markets data industry. This would also allow exchanges to monetize their […]

PEPE Whale’s $4.54M Binance Deposit Triggers 6% Price Drop: Report

May 19, 2024 | 05:30 am

The famous analytical platform Spot On Chain mentioned that the cryptocurrency market has seen a big move with PEPE tokens. About 13 hours ago, multi signature address 0x1a2 which is a well-known entity in the crypto trading sphere, deposited an enormous sum of money 457.9 billion PEPE tokens are worth $4.54 million, into Binance. This […]

Bitcoin (BTC) and Solana (SOL) Price Predictions, Plus Why Rollblock (RBLK) Might be the Next Big Thing in Crypto

May 19, 2024 | 05:11 am

Bitcoin (BTC) and Solana (SOL) are some of the top crypto coins that saw major price surges in the industry. However, according to some analysts, Rollblock (RBLK) could be set to emerge as the next crypto to explode. Prominent market analysts have pegged this rookie, now in Stage 2 of its presale, as one with […] The post Bitcoin (BTC) and Solana (SOL) Price Predictions, Plus Why Rollblock (RBLK) Might be the Next Big Thing in Crypto appeared first on CoinJournal.

Ethereum’s transaction size falls 54%: Why it’s not bad news for ETH

May 19, 2024 | 05:00 am

If exchange withdrawals grow, amid other things, ETH could see a gradual rise to $3,500.

Yuval Harari Criticizes Bitcoin, Naira Becomes World’s Worst-Performing Currency, and More — Week in Review

May 19, 2024 | 04:50 am

Historian Yuval Noah Harari criticized bitcoin, calling it a “currency of distrust.” The Nigerian naira has become the world’s worst-performing currency after erasing its early April gains due to ongoing foreign exchange shortages. Robert Kiyosaki warned of a potential collapse of the U.S. dollar if the BRICS nations launch a gold-backed cryptocurrency, predicting hyperinflation. Gold […]

Is Retik Finance (RETIK) the Best Cryptocurrency to Buy in 2024? 3 Reasons Why This Analyst Says Yes

May 19, 2024 | 04:48 am

The cryptocurrency market is well known for being extremely volatile, with new competitors constantly trying to attract investors and abrupt changes in value. Retik Finance (RETIK) has become a major participant in this dynamic market, grabbing the attention of investors all over the world. But in 2024, is Retik Finance really the greatest cryptocurrency to [...]

Coinbase Research Says ‘Surprise to the Upside’ Possible for Ethereum ETF Decision – Here’s Why

May 19, 2024 | 04:45 am

Research from Coinbase suggests that decisions on a spot Ethereum (ETH) exchange-traded fund (ETF) could surprise investors. In a new note, Coinbase Institutional says that an ETH ETF is a question of when, not if, and that the U.S. Securities and Exchange Commission (SEC) is likely looking at the decision with the same rationale that […] The post Coinbase Research Says ‘Surprise to the Upside’ Possible for Ethereum ETF Decision – Here’s Why appeared first on The Daily Hodl.

Kraken Denies Plans to Delist Tether Amid Regulatory Uncertainty

May 19, 2024 | 04:19 am

Despite whispers of a potential delisting in the face of Europe’s evolving regulatory landscape, leading crypto exchange Kraken has officially confirmed its continued support for Tether (USDT). This announcement comes at a time when the entire crypto industry grapples with the reliability and regulatory compliance of stablecoins, with Tether being a prime focus. The European […]

Why You Should Forget About DOT, LTC and TRX This Bull Run; Investors Looking For 100x Potential Like Rollblock (RBLK)

May 19, 2024 | 04:01 am

Polkadot, Litecoin, and TRON are all top contenders in the crypto space. However, having faced steep price declines over the last month, Rollblock has become a more appealing alternative. Rollblock recently experienced a 20% price increase after stage one of its presale sold out. Experts predict that its utility token could see returns of 100x [...]

DeFi Giant Retik Finance (RETIK) Expected to Skyrocket 20X Following Exchange Listings on May 21

May 19, 2024 | 04:01 am

New crypto projects have generated as much anticipation and excitement as Retik Finance (RETIK). With its launch scheduled for May 21, and subsequent exchange listings expected on the same day, Retik Finance is poised to make a significant impact on the DeFi landscape. Anticipation is running high, with many analysts

BNB sets the stage to breakout above $580: When will it happen?

May 19, 2024 | 04:00 am

BNB is on the verge of breaking out of a bullish pennant pattern, which might allow the coin to reach an ATH.

XRP Ledger Adoption Soars Despite Drop in New Wallets

May 19, 2024 | 03:00 am

XRP transactions overall climbed by 108% in the first quarter of 2024. The $2 billion penalty that the SEC has suggested for XRP sales is something Ripple objects to. With updates on their ongoing SEC complaint and a summary of noteworthy on-chain activity, Ripple Labs Inc. just published its first quarter ecosystem performance report. According [...]

Genesis Gets Court Approval For $3 Billion Repayment Plan

May 19, 2024 | 03:00 am

Bankrupt crypto lender Genesis Global Capital has secured court approval to commence its $3 billion repayment plan to its creditors. The decision comes with revelations that Genesis’s parent company Digital Currency Group (DCG) will be recovering no value from the bankruptcy payout plan. Related Reading: Genesis Faces $21 Million Penalty As SEC Charges Are Settled= […]

Cardano rebounds to $0.48: Where will ADA head next?

May 19, 2024 | 03:00 am

ADA's triumphant return to $0.48 sparks renewed investor bullish sentiments.

BlockDAG dominates after dashboard update, securing $28 million in presale, while Cardano and Shiba Inu show promise

May 19, 2024 | 02:52 am

As the crypto market shows signs of recovery, Cardano and Shiba Inu are both poised for potential growth, buoyed by positive forecasts and new network enhancements. Amidst these promising developments, BlockDAG has been recognized as one of the most promising investments in the cryptocurrency space. Following its recent CoinMarketCap listing, BlockDAG celebrated with a prominent …

‘XRP $1 Price’ Eruption Looks Nigh As Ripple’s Foray Into Africa Proves Game-Changing

May 19, 2024 | 02:32 am

Ripple's ambitious expansion plans into the African market has significantly boosted the trajectory of its cryptocurrency, XRP.

Polkadot Creator Gavin Wood Says One Blockchain Use Case Crucial for Mass Adoption

May 19, 2024 | 02:15 am

The creator of interoperability blockchain Polkadot (DOT) says that one use case for the blockchains is crucial for their mass adoption. In a new interview on macro guru Raoul Pal’s podcast, Polkadot creator Gavin Wood says that proof of personhood – or a mechanism that digitally verifies a person’s humanity – could be the killer […] The post Polkadot Creator Gavin Wood Says One Blockchain Use Case Crucial for Mass Adoption appeared first on The Daily Hodl.

Top Altcoins Poised For Major Drop Next Week

May 19, 2024 | 02:11 am

The post Top Altcoins Poised For Major Drop Next Week appeared first on Coinpedia Fintech News With the Bitcoin price crossing the $67K mark, the overall market sentiment shows a potential rise coming for the altcoins. However, the weakness in some of the altcoins warns of an extended correction in the coming week. Moreover, as the Bitcoin price might soon face resistance of nearly $70K, these altcoins might face a major …

NEAR vs. RCO Finance (RCOF): Which Platform Offers Better Long-Term Value?

May 19, 2024 | 02:00 am

The blockchain sector and decentralized finance (DeFi) are always changing, with many platforms competing with each other. NEAR and RCO Finance (RCOF) are most likely the main contenders for popularity due to their innovative approaches to blockchain technology and DeFi applications. Let’s examine the core values of NEAR and RCO Finance to get a clearer [...]

Is XRP About to Boom? Experts Say a 3000% Surge is Possible

May 19, 2024 | 02:00 am

Analysts predict XRP might soar to $18 following a 3000% rise. In spite of the volatility lately, XRP has been trending positive for the last week by 2.78%. The continuous Ripple v. SEC legal dispute and the high community expectations are putting a lot of strain on the XRP network. The XRP community is optimistic [...]

Why Polkadot’s [DOT] price bounce will not come anytime soon

May 19, 2024 | 02:00 am

Despite a 6.61% weekly increase, DOT's decreased volume suggests market disinterest.

Trump’s Crypto Embrace: From “Disaster” to “I’m Good With It”

May 19, 2024 | 01:56 am

Former U.S. President Donald Trump has expressed a positive outlook toward cryptocurrencies, marking a potential shift in his stance on digital assets.

Kiarash Hossainpour: How a Young Nerd Became a Crypto Millionaire

May 19, 2024 | 01:49 am

By the time he was eighteen, Kiarash Hossainpour had made millions off of his early Bitcoin investments and coding abilities. Now, using his financial independence to live in luxury, he operates a YouTube channel and concentrates on cryptocurrency investments. Following Kiarash Hossainpour on Instagram will give you a sense of what affluent bachelor life is [...]

Solana Ranked The World’s Fastest Blockchain, Outshining Ethereum, Polygon

May 19, 2024 | 01:44 am

'Ethereum killer' Solana has taken the blockchain ecosystem by storm after becoming the fastest blockchain in the world with record transaction speed.

Reddit Shares Soar on News of OpenAI Data-Sharing Partnership

May 19, 2024 | 01:42 am

Reddit shares investors have been left ablaze after Reddit stocks rose by 11% in after-hours trading following its data-sharing partnership with Open AI Despite the legal hiccup on AI firms, Reddit seems focused on using AI to boost user engagement in the platform Reddit stocks surged following the announcement of the trailblazing data-sharing partnership with [...]

Bitcoin ETFs Gain Mass Popularity: 937 Professional Firms Show Interest in Q1, Fueling Speculation of $100,000 BTC

May 19, 2024 | 01:42 am

Bitcoin ETFs have become more popular than gold ETFs among professional firms. Institutional investors now hold over $11 billion in Bitcoin ETFs, driven by the potential for high returns. Exchange-traded funds (ETFs) backed by Bitcoin have surpassed traditional gold ETFs in popularity among professional firms, marking a dramatic transformation in the investment environment. This trend [...]

Crypto Analyst Envisions Record Bitcoin Gains Before October Amid Global Liquidity Shift

May 19, 2024 | 01:37 am

In addition to predicting the resumption of the long-term bull market before October, Woo also claimed that 2025 would be a record year for Bitcoin.

Meme Coin $SPONGE Seeks Community Input on Staking Rewards Distribution Ahead of Listing

May 19, 2024 | 01:19 am

The crypto gaming space is exciting as $SPONGE, a gaming meme coin that has delivered a staggering 10,000% return to its early backers, reaches out to its community for guidance on distributing staking rewards. Notably, this strategic move comes as $SPONGE prepares for its presale conclusion and eyes potential listings on major exchanges. According to […]

BlockDAG (BDAG) Dominates at Piccadilly Circus, Eclipsing ADA, DOGE

May 19, 2024 | 01:12 am

Establishing a strong lead over other popular cryptocurrencies like Cardano and Dogecoin has been going through market ups and downs. BlockDAG has recently garnered attention in the cryptocurrency community for its impressive achievement of raising over $27.7 million in its presale. The success was further celebrated with an exciting event at London’s Piccadilly Circus, coinciding […]

Cardano clears $0.5 barrier: Will ADA cross the $1 mark in Q2?

May 19, 2024 | 01:00 am

Cardano breaks above a bullish flag pattern, suggesting that ADA might reach $1 in the coming weeks.

Bitcoin Bull Brandt Burns Schiff: ‘Stop Betting On Dead Horses!’

May 19, 2024 | 00:46 am

The world of finance is no stranger to colorful characters, and this week, the gloves came off between two titans with opposing views on Bitcoin: Peter Brandt, a crypto bull, and Peter Schiff, a Bitcoin skeptic. Their battleground? Social media, of course. Related Reading: Phony Philanthropy? Notcoin’s $6.8 Million Gift To Telegram Founder Rings Alarm […]

Why Altcoins Are The Best Investment For Now – Analyst

May 19, 2024 | 00:39 am

Popular crypto analyst Michaël van de Poppe continues to back altcoins to put up a spectacular bullish performance in the coming months. In a new X post on Saturday, the veteran analyst takes a deeper dive explaining the reasons behind his advocacy for altcoins investment ahead of a highly expected crypto bull run. Related Reading [...] The post Why Altcoins Are The Best Investment For Now – Analyst appeared first on Crypto Breaking News.

Popular Bitcoin Bull Holding $63,000,000 worth of BTC Says Solana Alternative Retik Finance (RETIK) Is a Must-Buy in 2024, Set to List on Top Exchanges on May 21

May 19, 2024 | 00:27 am

In cryptocurrency’s dynamic and ever-changing environment, new challengers arise regularly, each seeking a piece of the market pie. Among these rising businesses, Retik Finance (RETIK) has piqued the interest of investors and analysts alike, establishing itself as a strong competitor to established heavyweights such as Solana. This is due to

Zeebu Surpasses US$2Bln in Total Payments Volume

May 19, 2024 | 00:08 am

Zeebu has exceeded US$2 billion in total payment volume, marking a significant milestone in its journey as a leading blockchain-based payments platform. This achievement highlights Zeebu’s impressive growth trajectory and its influence in driving the adoption of decentralized financial solutions across the telecom industry. In just a few months following

Bitcoin Has Completed Profit-Taking Phase Amid Backdrop of Rising Capital Flows to BTC, Says Analyst Willy Woo

May 19, 2024 | 00:04 am

Popular on-chain analyst Willy Woo believes Bitcoin (BTC) is now in a position to kick start a fresh leg up after months of consolidation. Woo tells his 1.1 million followers on the social media platform X that he’s looking at Bitcoin’s spent output profit ratio (SOPR), which tracks whether coins are being sold at a […] The post Bitcoin Has Completed Profit-Taking Phase Amid Backdrop of Rising Capital Flows to BTC, Says Analyst Willy Woo appeared first on The Daily Hodl.

BTC ETFs: Grayscale GBTC inflows near $1B in 1 week, analyst says…

May 19, 2024 | 00:00 am

Are institutional investors boosting Grayscale's Bitcoin ETF while whales lose interest?

Nigeria’s Interpol upskilled to combat digital asset crime

May 19, 2024 | 00:00 am

The African Stablecoin Consortium, which is behind the eNaira alternative cNGN stablecoin, organized the training alongside cybersecurity stakeholders. [...] Read More... The post Nigeria’s Interpol upskilled to combat digital asset crime appeared first on CoinGeek.

BlockDAG’s Piccadilly Circus Showcase Forecasts $10 Value by 2025 Amid Coinbase Legal Issues and TRON’s Expansion

May 18, 2024 | 23:00 pm

As the cryptocurrency world navigates through the complexities of the Coinbase lawsuit and fluctuating market conditions, TRON has maintained a steady growth trajectory. Amidst these market dynamics, BlockDAG has made significant headway, highlighted by its prominent display at Piccadilly Circus and recognition as a top mining platform. With over $27.7

Shiba Inu’s Q2 price prediction: Will SHIB retest $0.000030?

May 18, 2024 | 23:00 pm

The golden cross suggests potential bullish trend for SHIB. But it also depends on the money and exchange flow.

Vodafone and Sony to combat supply chain fraud with blockchain

May 18, 2024 | 22:00 pm

Pairpoint, the brainchild of a partnership between Vodafone and Japanese-based Sumitomo Corporation, has teamed up with Sensos to explore the viability of a blockchain-based smart label feature. [...] Read More... The post Vodafone and Sony to combat supply chain fraud with blockchain appeared first on CoinGeek.

X To Unleash The Dogecoin Flood? Payments Promise Stirs Community

May 18, 2024 | 21:00 pm

The Dogecoin army is barking with excitement after an insider hinted at the long-awaited integration of Dogecoin (DOGE) into X Payments, Elon Musk’s social media platform. However, a closer look reveals a reality check is needed before Doge rockets to the moon. Related Reading: Trump Crypto Boom: Ex-President’s Portfolio Soars 4,000% Amid Re-Election Frenzy Dogecoin […]

Ultrade ($ULTR) – Private Sale

May 18, 2024 | 20:31 pm

Ultrade is unveiling cutting-edge Native Exchanges (NEX) technology, combined with Whitelabel SaaS infrastructure and a sustainably scalable B2B2C business model. Ultrade solves critical challenges faced by crypto traders and numerous tokenized projects across the market. Incubated by Decubate Link Industry Problem: Despite the booming cryptocurrency market, billions of dollars are lost annually by traders and ... Read more

Toshiba utilizes AI to improve operational performance of geothermal power plants

May 18, 2024 | 20:00 pm

Toshiba Clip, the new AI-based monitoring feature will combine IoT elements to deliver the final solution for Trouble-Predictive Diagnosis. [...] Read More... The post Toshiba utilizes AI to improve operational performance of geothermal power plants appeared first on CoinGeek.

Shiba Inu Metrics Turn Bullish: Here’s How Many Wallets Stand Between Current Price And $0.000139

May 18, 2024 | 19:00 pm

Shiba Inu is exhibiting interesting price action as it looks to break above a downward-sloping upper trendline under which it has been trading since the first week of March. Currently, SHIB is up by 10% in the past seven days and is at a decisive junction of a breakout that could lead to a strong […]

$384,000,000 To Be Handed To 191,000 Victims of Banking Giant’s Illegal Practices: Consumer Financial Protection Bureau

May 18, 2024 | 17:04 pm

A US banking regulator says $384 million will soon be handed to victims of an online bank’s illegal practices. The Consumer Financial Protection Bureau says 191,000 people will receive the windfall of cash, which will be given to former customers of Texas-based Think Finance. The agency filed a lawsuit against the lender in 2017, accusing […] The post $384,000,000 To Be Handed To 191,000 Victims of Banking Giant’s Illegal Practices: Consumer Financial Protection Bureau appeared first on The Daily Hodl.

Altcoin Tied to Security-Focused Crypto Wallet Surges by 43% This Week Amid Rollout of New Swaps Feature

May 18, 2024 | 17:00 pm

An altcoin linked to a security-focused crypto wallet is outperforming the broader digital asset market, surging by more than 40% this week. Safe is a smart contract wallet that runs on multiple blockchains. The project introduced native swaps this week. Explains Safe, “Batch auctions consolidate multiple transactions, reducing gas costs and the need for multiple […] The post Altcoin Tied to Security-Focused Crypto Wallet Surges by 43% This Week Amid Rollout of New Swaps Feature appeared first on The Daily Hodl.

Are New Altcoins Listing On Exchanges Like Binance Profitable? This Crypto Researcher Has The Answer

May 18, 2024 | 17:00 pm

A crypto and macro researcher identified as “Flow” on X (formerly Twitter) has provided a detailed review of the profitability of new altcoins listed on Centralized Exchanges (CEX) such as Binance. The researcher disclosed that prominent exchanges like Binance have experienced a significant decline in the value and performance of new tokens listed on their […]

This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here’s Why

May 18, 2024 | 15:00 pm

Crypto expert Michaël van de Poppe recently revealed that he had sold all his Bitcoin and rotated his capital to altcoins. The analyst explained the reason for this move and remarked that he was doing this to acquire more of the flagship crypto later on. Why This Analyst Swapped His Bitcoin For Altcoins In an [...] The post This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here’s Why appeared first on Crypto Breaking News.

Analyst Predicts 3000% Bull Move for Trending Shiba Inu (SHIB) Competitor, Time to Buy?

May 18, 2024 | 13:37 pm

Analysts in the crypto space play a crucial role in deciphering the market’s complexities, providing valuable insights that help investors navigate the volatile landscape. They scrutinize market trends, technical indicators, and fundamental analysis to make informed predictions about cryptocurrencies’ performance. Also, a bull move signifies a substantial and sustained uptrend

Ripple’s Africa Expansion Plans Puts XRP on Path to Coveted $1 Price Target

May 18, 2024 | 13:28 pm

Ripple's recent announcement of its ambitious plans to expand into Africa has boosted XRP's trajectory.

BlackRock’s CIO Sees Optimism in U.S. CPI Data, Warns of Rate Hike

May 18, 2024 | 12:51 pm

The financial markets were elated by the announcement of the U.S. Consumer Price Index (CPI) statistics this week. It seemed like inflationary pressures could be receding. The report prompted a strong reaction from BlackRock’s Chief Investment Officer (CIO) of Global Fixed Income and Head of Global Asset Allocation, Rick Rieder.

Ethereum ETFs About to Be Approved? — Here are the Candidates Waiting for Confirmation

May 18, 2024 | 12:49 pm

All eyes are on the United States Securities and Exchange Commission (SEC) for the approval of the Ethereum exchange-traded funds (ETFs).

Vitalik Buterin Praises Ethereum Ecosystem’s Commitment to Free Expression

May 18, 2024 | 12:13 pm

Vitalik Buterin, a pioneer in the cryptocurrency sector, praised one of Ethereum’s strengths on Saturday in a X post. The co-founder of Ethereum values the fact that free expression is not stifled inside the Ethereum ecosystem. Moreover, according to Buterin, Ethereum does not censor its users or the general public

Floki Inu Frenzy: Memecoin Eyes New Highs As Open Interest Soars

May 18, 2024 | 12:00 pm

Floki Inu (FLOKI), the Shiba Inu-inspired memecoin, has rocketed into the spotlight with a surge in trading activity and a nearly 20% price increase in the past week. However, experts caution that this “pup-ularity” might be short-lived, fueled more by hype than by strong foundations. Related Reading Open Interest Takes Off: Newcomers Flock To FLOKI [...] The post Floki Inu Frenzy: Memecoin Eyes New Highs As Open Interest Soars appeared first on Crypto Breaking News.

Crypto Takes Center Stage in U.S. Elections: Insights from Industry Experts

May 18, 2024 | 11:50 am

Crypto groups mount pressure on US presidential candidates in a level that has never been witnessed before. Former president Donald Trump gives a thumb up for crypto as he softens his stance to win the support of enthusiasts. Crypto takes center stage in the US election as various presidential candidates declare their position in a [...]

BRICS Gold-Backed Crypto Threatens U.S. Dollar: Is Bitcoin the Safe Haven?

May 18, 2024 | 11:38 am

The US Dollar dominance is under threat as the BRICS discuss the creation of an independent payment system and de-dollarization. According to the Rich Dad Poor Dad author, Robert Kiyosaki, it is safer to buy Bitcoin, gold or silver to escape from the potential hyperinflation that could arise from the de-dollarization. BRICS’ long-term decision to [...]

Solana (SOL) Price Soars: Analyst Anticipates ATH Breakout, Sets Target at $328.6

May 18, 2024 | 11:30 am

Solana (SOL) continues to showcase a trend in which investors pay higher prices over time, thus suggesting the usual sustenance of an upward trajectory in the medium-to-long term. Therefore, it is only marking the follow-through of this positive development within the currency and an increasing interest from investors to engage with it. More importantly, that […]

Ripple (XRP) and BNB (BNB) Battle Key Resistance Levels, On Chain Data Suggests KANG is the Next To Pump

May 18, 2024 | 11:00 am

As the crypto market anticipates the bull run, Ripple (XRP) and BNB (BNB) are facing a battle to stay afloat of the bear pressure. These top crypto coins have to contend with crucial resistance levels that may determine their next trajectories. Meanwhile, the available on-chain data has given a hint that KangaMoon may be the [...]

Institutions Pour Billions Into Bitcoin ETFs: 250K BTC Accumulated As Retail Interest Wanes

May 18, 2024 | 10:30 am

The cryptocurrency world has experienced a major change as institutional investors finally arrived, according to a recent report from IntotheBlock. The listing of Bitcoin ETFs on the New York Stock Exchange was an important event that signals the entrance of major financial players into the crypto sector. Since the start of Bitcoin ETFs, there has […]

NEAR and Polkadot Bullish in Q2, BlockDAG’s Dashboard Upgrade Impresses Analysts with Transparency

May 18, 2024 | 10:28 am

Near Protocol and Polkadot have shown impressive metrics and promising trends amid significant growth in the cryptocurrency world. Near Protocol saw a substantial rise in its market cap and transaction activity, while Polkadot experienced a notable price ascent and trading stability. However, BlockDAG Network stands out with its upgraded dashboard, which enhances user experience and [...]

Cardano Whales Return To The Table, Increase Massive Holdings By 10%

May 18, 2024 | 10:00 am

Cardano (ADA) whales are back in the picture, with recent data suggesting their confidence in the crypto token may have been revived. If so, this will be massive for ADA, which could experience significant price surges soon enough based on this development. Related Reading Cardano Whales Add To Their Holdings The market intelligence platform IntoTheBlock [...] The post Cardano Whales Return To The Table, Increase Massive Holdings By 10% appeared first on Crypto Breaking News.

Using Power Laws to predict when the Bitcoin price will hit $1 million

May 18, 2024 | 10:00 am

The following is a guest post by Rajagopal Menon, the Vice President of WazirX. Come the bull market, cometh the models to predict the price of Bitcoin. In the last bull market in 2021, the Stock-to-Flow (S2F) model was the flavour of the season. This model, created by Plan B, assessed asset scarcity by comparing […] The post Using Power Laws to predict when the Bitcoin price will hit $1 million appeared first on CryptoSlate.

Dogwifhat and Popcat sell-off as whale dumps tokens

May 18, 2024 | 09:39 am

Dogwifhat (WIF) price was down 11% on the day as top meme coins struggled. The Popcat (POPCAT) token also traded lower, falling by 20% in 24 hours. A whale has dumped both WIF and POPCAT tokens at a loss. Dogwifhat ($WIF) and Popcat (POPCAT) are down double-digits in the past 24 hours as the overall […] The post Dogwifhat and Popcat sell-off as whale dumps tokens appeared first on CoinJournal.

Fantom Unveils Sonic Network: A Bold Step Towards Blockchain 2.0

May 18, 2024 | 08:55 am

The prominent cryptocurrency journalist Colin Wu has just uncovered a very important news about the Fantom Foundation. In his Wu Blockchain X post, Wu exposed that the Fantom Foundation has revealed the launch details of its new innovative Layer 1 (L1) blockchain, Sonic Network. Sonic Network is a big step in the blockchain world, which […]

Ethereum Faces 17% DEX Volume Shift to Layer-2 Amid Potential Spot ETF Approval

May 18, 2024 | 08:30 am

Ethereum, the second-largest cryptocurrency by market capitalization, has seen a mix of opportunities and challenges as it navigates through 2024. The potential approval of spot Ethereum (ETH) ETFs in the United States represents a significant opportunity, while the rise of competing layer-1 (L1) blockchains and the effects of layer-2 (L2) scaling solutions present notable challenges, […]

Ripple’s XRP Surges 10% Amid Africa Expansion Plans

May 18, 2024 | 08:14 am

NAIROBI (Coinchapter.com) – Ripple’s XRP surged as news broke about the company’s plans to expand in Africa. On May 17, XRP’s price climbed above $0.52, marking a 10% increase from May 13’s low. This growth underscores investor optimism. Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, announced plans to deepen Ripple’s presence […] The post Ripple’s XRP Surges 10% Amid Africa Expansion Plans appeared first on CoinChapter.

AGIX Sustains Momentum Above 100-Day Moving Average – Rally Imminent?

May 18, 2024 | 08:00 am

AGIX is one of the leading AI tokens in the crypto space with a total supply of 2 billion, and a total trading volume of over $105 million, which is over 11% down in the last 24 hours. For over two days, the price of AGIX has been holding strong above the 100-day Simple Moving [...] The post AGIX Sustains Momentum Above 100-Day Moving Average – Rally Imminent? appeared first on Crypto Breaking News.

AGIX Sustains Momentum Above 100-Day Moving Average – Rally Imminent?

May 18, 2024 | 08:00 am

AGIX is one of the leading AI tokens in the crypto space with a total supply of 2 billion, and a total trading volume of over $105 million, which is over 11% down in the last 24 hours. For over two days, the price of AGIX has been holding strong above the 100-day Simple Moving [...] The post AGIX Sustains Momentum Above 100-Day Moving Average – Rally Imminent? appeared first on Crypto Breaking News.

Ethereum Price Analysis: Analysts Set Sights on $4,050 Amid Bullish Momentum

May 18, 2024 | 07:30 am

Ethereum (ETH) is experiencing a remarkable rise in value, breaking through resistance levels and setting the stage for a potential rapid increase. This shift in momentum marks a significant change from its earlier bearish trend as Ethereum transitions into a bullish phase. This positive development has not gone unnoticed, drawing substantial attention from analysts and investors who […]

Why Did Bitcoin Just Jump 10%? Blockchain Firm Weighs In

May 18, 2024 | 06:00 am

The cryptocurrency market has been on a hot streak in the past few days, with several large-cap assets posting significant gains in the past week. Most notably, the Bitcoin price bounced back from around $61,000 to above $67,000 for the first time in nearly a month. As expected, this latest price movement has sparked a lot of speculation and discussion around the premier cryptocurrency. Popular blockchain analytics firm CryptoQuant has shared on-chain insights into the recent Bitcoin price rally and its future trajectory. How Did Bitcoin Price Reach $67,000? In a recent report, CryptoQuant revealed the catalyst and on-chain manifestations behind BTC’s latest rally to above $67,000. According to the analytics firm, the price of Bitcoin rode to its new highs on the back of the news of lower-than-expected inflation in the United States. Related Reading: Is Dogecoin About to Take Off? Indicators Suggest Upward Momentum Ahead The inflation data released on Wednesday, May 15 showed that the Consumer Price Index (CPI) rose by 0.3% in April – lower than the expected 0.4%. This revelation suggested that inflation might be on a downward slope in the US, making risky assets like Bitcoin more attractive. In its report, CryptoQuant revealed that there has been a decreased selling pressure in the BTC market, as short-term holders are selling at low or negative profits. Meanwhile, Bitcoin balances at over-the-counter (OTC) desks have steadied, implying that fewer coins are entering the open market. What’s more, the analytics platform highlighted a particular on-chain signal that might have predicted the recent Bitcoin price rally. According to CryptoQuant, BTC miners have been extremely underpaid over the past few weeks, which often correlates with price bottoms. The Catalysts For Sustained BTC Rally? CryptoQuant, in its report, identified potential catalysts for a continued rally for the Bitcoin price. According to the on-chain data company, demand from permanent holders and largest investors is on the rise but it needs to climb rapidly to push the price of BTC even higher. Related Reading: Solana Takes The Crown: CoinGecko Ranks It The Best, Leaving Ethereum Behind In Key Metric Furthermore, the latest data shows that Bitcoin ETF (exchange-traded funds) purchases have dwindled to nearly zero daily, while stablecoin liquidity growth is also on a decline. CryptoQuant noted that these two metrics need a jolt, which might be critical for a sustained Bitcoin rally. As of this writing, the Bitcoin price continues to hover around $67,000, reflecting a 2.5% increase in the past 24 hours. According to CoinGecko data, the premier cryptocurrency is up by a significant 10% in the past week. Featured image from iStock, chart from TradingView

This Shiba Inu (SHIB) Rival Might Be the Next Meme Coin to Explode – Here’s Why

May 18, 2024 | 06:00 am

Meme coin investors are always on the lookout for those low-cap gems that can potentially explode in price. Coins like Shiba Inu (SHIB), dogwifhat (WIF), and Pepe Coin (PEPE) have already achieved massive market capitalizations, making it challenging to replicate the astronomical gains witnessed in their early stages. However, one of those low-cap meme coins [...]

Tether Adds Fresh $1 Billion USDT To Supply – Bitcoin To Rally Again?

May 18, 2024 | 06:00 am

According to data from CoinMarketCap, Bitcoin rose by 2.9% on Friday to trade above $67,000 for the first time since April 24. This positive price performance by the maiden cryptocurrency has been attributed to the low inflation levels reported in the latest Consumer Price Index (CPI) data. However, Bitcoin is an asset subject to the [...] The post Tether Adds Fresh $1 Billion USDT To Supply – Bitcoin To Rally Again? appeared first on Crypto Breaking News.

Tether Adds Fresh $1 Billion USDT To Supply – Bitcoin To Rally Again?

May 18, 2024 | 06:00 am

According to data from CoinMarketCap, Bitcoin rose by 2.9% on Friday to trade above $67,000 for the first time since April 24. This positive price performance by the maiden cryptocurrency has been attributed to the low inflation levels reported in the latest Consumer Price Index (CPI) data. However, Bitcoin is an asset subject to the [...] The post Tether Adds Fresh $1 Billion USDT To Supply – Bitcoin To Rally Again? appeared first on Crypto Breaking News.

Tether Adds Fresh $1 Billion USDT To Supply – Bitcoin To Rally Again?

May 18, 2024 | 06:00 am

According to data from CoinMarketCap, Bitcoin rose by 2.9% on Friday to trade above $67,000 for the first time since April 24. This positive price performance by the maiden cryptocurrency has been attributed to the low inflation levels reported in the latest Consumer Price Index (CPI) data. However, Bitcoin is an asset subject to the [...] The post Tether Adds Fresh $1 Billion USDT To Supply – Bitcoin To Rally Again? appeared first on Crypto Breaking News.

Tether Adds Fresh $1 Billion USDT To Supply – Bitcoin To Rally Again?

May 18, 2024 | 06:00 am

According to data from CoinMarketCap, Bitcoin rose by 2.9% on Friday to trade above $67,000 for the first time since April 24. This positive price performance by the maiden cryptocurrency has been attributed to the low inflation levels reported in the latest Consumer Price Index (CPI) data. However, Bitcoin is an asset subject to the [...] The post Tether Adds Fresh $1 Billion USDT To Supply – Bitcoin To Rally Again? appeared first on Crypto Breaking News.

Why Did Bitcoin Just Jump 10%? Blockchain Firm Weighs In

May 18, 2024 | 06:00 am

The cryptocurrency market has been on a hot streak in the past few days, with several large-cap assets posting significant gains in the past week. Most notably, the Bitcoin price bounced back from around $61,000 to above $67,000 for the first time in nearly a month. As expected, this latest price movement has sparked a [...] The post Why Did Bitcoin Just Jump 10%? Blockchain Firm Weighs In appeared first on Crypto Breaking News.

Solana (SOL) Bulls Eye New All-Time High: Potential Surge Beyond $260 in Sight?

May 18, 2024 | 05:48 am

Solana’s price has surged to $159.2, driven by increased institutional interest and on-chain activity. Memecoins on Solana have seen a 6.4% increase, contributing to the asset’s bullish momentum. Solana (SOL) has become a focal point for institutional investors, demonstrating significant gains over the past 48 hours. It is worth noting that Solana has experienced a [...]

Analyzing the US Government’s Bitcoin holdings: What you need to know

May 18, 2024 | 04:42 am

The following is a guest post from Vincent Maliepaard, Marketing Director at IntoTheBlock. According to the latest data from IntoTheBlock, the U.S. government holds over 1% of the Bitcoin supply, valued at an impressive $13.16 billion. These holdings have tripled since 2021, demonstrating a consistent increase over the years. Why the US government holds Bitcoin […] The post Analyzing the US Government’s Bitcoin holdings: What you need to know appeared first on CryptoSlate.

ADA Price Outlook: Cardano Gains Momentum, Eyes Crucial $1 Resistance

May 18, 2024 | 04:25 am

Despite recent challenges, Cardano’s upward trajectory remains strong with increased trading volumes and significant accumulation between $0.48 and $0.50. ADA is poised to overcome resistance at $0.50 making it the new support zone and continuing its rally further to $0.60. Cardano (ADA) has defied expectations by emerging as the top-performing asset among cryptocurrencies in the [...]

ADA Price Surge Could Push Ratio Of Holders In Loss Below 55%

May 18, 2024 | 04:00 am

Cardano (ADA), the proof-of-stake blockchain network known for its smart contracts, has defied recent predictions of a fall from the top 10 cryptocurrency rankings by market cap. In a surprising move, ADA has instead become the top performer among major coins, experiencing a 7% surge in the last 24 hours. This price action has ignited [...] The post ADA Price Surge Could Push Ratio Of Holders In Loss Below 55% appeared first on Crypto Breaking News.

Can Ripple vs SEC Settlement Push XRP Beyond $1? Price Forecast Explained

May 18, 2024 | 03:10 am

In the ongoing legal battle, Ripple aims to protect sensitive operational details and customer privacy, awaiting a decision from the Judge. Additionally, XRP’s price action reflects a pattern of bullish and bearish fractals, with support at $0.48 and resistance at $0.56. Amid the Bitcoin price resurgence, Ripple’s native cryptocurrency XRP has given a strong bounceback [...]

Alex Labs Freezes $3.9M in Exploited Funds

May 18, 2024 | 03:01 am

NAIROBI (CoinChapter.com) — Bitcoin layer-2 developer Alex Labs has successfully frozen over $3.9 million of exploited funds. The attacker sent these funds to various centralized exchanges (CEXs), as detailed in a May 16 post by the team. Details of the Exploit On May 16, Alex Labs reported an exploit of their BNB Smart Chain bridge. The […] The post Alex Labs Freezes $3.9M in Exploited Funds appeared first on CoinChapter.

Stuart Alderoty Praises Senate’s Move Against SEC Crypto Rule

May 18, 2024 | 03:00 am

Stuart Alderoty of Ripple backs the Senate’s rejection of the SEC’s divisive cryptocurrency regulatory proposal. The bipartisan action shows the increasing popularity of reasonable cryptocurrency innovation and regulation. Chief Legal Officer (CLO) Stuart Alderoty of Ripple has become a strong advocate after the US Senate decisively rejected the controversial cryptocurrency regulatory plan of the Securities [...]

Crypto Expert Willy Woo Predicts Bitcoin Has Room To Run – Here Are The Drivers

May 18, 2024 | 01:57 am

Crypto expert Willy Woo has predicted that Bitcoin will still make significant moves to the upside. He made this claim based on an indicator that suggests crypto investors are still willing to buy the flagship crypto at higher prices. Related Reading Bitcoin Still Has “A Lot Of Room To Run” Woo mentioned in an X [...] The post Crypto Expert Willy Woo Predicts Bitcoin Has Room To Run – Here Are The Drivers appeared first on Crypto Breaking News.

ValueZone’s CEO Pledges to Lead in Cutting-Edge Quantitative Trading for Enhanced Passive Income

May 18, 2024 | 01:00 am

At a recent financial technology conference, the CEO of ValueZone, Adam Carl Waldman, committed to positioning ValueZone as a frontrunner in cutting-edge quantitative trading platforms, designed specifically to boost passive income for its users. This strategic pivot aims to harness sophisticated quantitative algorithms to maximize returns and minimize risks, marking a significant step in the evolution […] The post ValueZone’s CEO Pledges to Lead in Cutting-Edge Quantitative Trading for Enhanced Passive Income appeared first on CoinChapter.

StakingFarm Enables Wealth Building Through Crypto Staking for Passive Income

May 18, 2024 | 01:00 am

StakingFarm, a pioneering force in the cryptocurrency staking sector, proudly announces its role in facilitating substantial wealth generation for its users through its robust crypto-staking platform. By capitalizing on the burgeoning field of cryptocurrency, StakingFarm provides a secure and efficient means for individuals to earn passive income and thereby increase their financial well-being. “Staking has proven to […] The post StakingFarm Enables Wealth Building Through Crypto Staking for Passive Income appeared first on CoinChapter.

Wales launches UK’s first national metaverse to encourage tourism

May 18, 2024 | 00:00 am

Metaverse users will get to experience some of the best attractions Wales has to offer, with the government hoping that this will attract more tourists. [...] Read More... The post Wales launches UK’s first national metaverse to encourage tourism appeared first on CoinGeek.

Google’s new AI policy in search triggers concerns about low web traffic

May 17, 2024 | 22:00 pm

According to Google's disclosure, users will be presented with AI-generated summaries, with regular website links coming in second place. [...] Read More... The post Google’s new AI policy in search triggers concerns about low web traffic appeared first on CoinGeek.

PwC China, Xalts to promote tokenization, programmable assets in finance

May 17, 2024 | 20:00 pm

Banking on Xalts' expertise in designing programmable assets, PwC China strikes a partnership with the firm to create a solution that would connect off-chain systems with blockchain-based solutions. [...] Read More... The post PwC China, Xalts to promote tokenization, programmable assets in finance appeared first on CoinGeek.

Optimism Network Activity Metrics Approach Record Levels, Propelling OP 9% Higher

May 17, 2024 | 19:00 pm

Layer 2 (L2) scaling solution Optimism reported a series of strong network metrics in the first quarter (Q1) 2024, with its native OP token surging 9% on the back of this bullish momentum. Optimism Sees Higher Activity And Rising Transaction Fees According to a recent Messari report, Optimism’s circulating market cap increased 11% quarter-over-quarter (QoQ) [...] The post Optimism Network Activity Metrics Approach Record Levels, Propelling OP 9% Higher appeared first on Crypto Breaking News.

Optimism Network Activity Metrics Approach Record Levels, Propelling OP 9% Higher

May 17, 2024 | 19:00 pm

Layer 2 (L2) scaling solution Optimism reported a series of strong network metrics in the first quarter (Q1) 2024, with its native OP token surging 9% on the back of this bullish momentum. Optimism Sees Higher Activity And Rising Transaction Fees According to a recent Messari report, Optimism’s circulating market cap increased 11% quarter-over-quarter (QoQ) [...] The post Optimism Network Activity Metrics Approach Record Levels, Propelling OP 9% Higher appeared first on Crypto Breaking News.

Crypto Post-Mortem: Here’s How Pump.Fun Was Exploited For $2 Million

May 17, 2024 | 18:00 pm

Solana-based platform Pump.fun suffered an exploit that left the crypto community with many questions. The attack stole millions of dollars in users’ funds, but the reasons behind it and the exact amount of the loot were unclear. Amid the uncertainty, some claimed that a crypto Robinhood had emerged. Related Reading $80 Million Taken In Crypto [...] The post Crypto Post-Mortem: Here’s How Pump.Fun Was Exploited For $2 Million appeared first on Crypto Breaking News.

Coinbase expects 30% to 40% chance of spot ETH ETF approval by month-end

May 17, 2024 | 17:48 pm

Crypto exchange Coinbase believes the odds of the SEC approving spot Ethereum ETFs by the end of the month stand between 30% to 40%. In a May 15 report, Coinbase Institutional Research Analyst David Han asserted that the main factor that led the SEC to approve spot Bitcoin ETFs — the correlation between CME futures […] The post Coinbase expects 30% to 40% chance of spot ETH ETF approval by month-end appeared first on CryptoSlate.

Kraken considers delisting USDT in Europe due to MiCA rules

May 17, 2024 | 16:15 pm

Kraken could drop EU support for Tether’s USDT stablecoin, Bloomberg reported on May 17. Kraken Global Head of Regulatory Strategy Marcus Hughes said the company is planning for circumstances in which it is “not tenable to list specific tokens such as USDT.” The EU’s regulatory landscape is set to change when the EU’s Markets in […] The post Kraken considers delisting USDT in Europe due to MiCA rules appeared first on CryptoSlate.

THOTIANA Launches Memecoin Presale with BONUS Airdrop Opportunity on Solana Network

May 17, 2024 | 16:00 pm

THOTIANA, the newest meme coin on the Solana network, has announced the launch of its presale. With a vision of transforming everyday struggles into crypto riches, THOTIANA offers investors a unique opportunity. The first 250 investors will receive a bonus airdrop at the time of launch. Each $SOL invested equals 15,000 $THOT. The Opening of […] The post THOTIANA Launches Memecoin Presale with BONUS Airdrop Opportunity on Solana Network appeared first on CoinChapter.

Scaramucci says institutional adoption of Bitcoin set to accelerate

May 17, 2024 | 14:59 pm

SkyBridge Capital founder Anthony Scaramucci believes institutional adoption of Bitcoin has begun in full force and will accelerate rapidly in the coming quarters. Scaramucci made the statement during an interview on CNBC, where he highlighted the growing acceptance of Bitcoin among major financial institutions and pension funds. Scaramucci pointed to Wisconsin’s recent announcement of its […] The post Scaramucci says institutional adoption of Bitcoin set to accelerate appeared first on CryptoSlate.

Kraken Considers Delisting Tether Ahead of EU’s MiCA Regulations

May 17, 2024 | 14:49 pm

TL;DR Kraken’s Deliberation: Kraken is considering the delisting of Tether (USDT) in the EU due to the upcoming MiCA regulations, which impose strict rules on stablecoins, potentially reducing market diversity. MiCA’s Impact: The MiCA framework aims to regulate stablecoin providers with stringent governance and reserve management, limiting large stablecoin transactions to 200 million euros per day, affecting liquidity and flexibility. Regulatory ... Read more

Tether holds more US Treasuries than Germany, ranks 19th globally

May 17, 2024 | 14:14 pm

Quick Take Tether reported a massive $4.52 billion profit in the first quarter of the year. Notably, the stablecoin issuer’s consolidated financial figures revealed that as of March 31, it held a staggering $91 billion in direct and indirect US treasury bill holdings. Meanwhile, the company also holds a substantial $5.4 billion in Bitcoin. Based […] The post Tether holds more US Treasuries than Germany, ranks 19th globally appeared first on CryptoSlate.

Warren expresses support for SEC’s controversial SAB 121 bulletin

May 17, 2024 | 13:54 pm

Senator Elizabeth Warren described support for the SEC’s Staff Accounting Bulletin (SAB) 121 during a senate hearing on May 16. Warren asserted that the bulletin, which applies to companies that deal with crypto, is designed to provide accounting guidance. She said that SAB 121 “simply clarifies” how companies should account for risks related to crypto […] The post Warren expresses support for SEC’s controversial SAB 121 bulletin appeared first on CryptoSlate.

PEPE Trader Makes $21 Million and Diversifies Into O2T

May 17, 2024 | 13:34 pm

A savvy crypto trader turned $21 million in profits from the meme coin Pepecoin (PEPE). PEPE skyrocketed 39% between Monday and Wednesday, hitting a new all-time high of $0.0000115. The rally was fueled by the return of Keith Gill, aka “Roaring Kitty” from the GameStop saga, reigniting interest in “meme assets.” Though PEPE pulled back […] The post PEPE Trader Makes $21 Million and Diversifies Into O2T appeared first on CoinChapter.

Notcoin donates $7 million in tokens to Telegram and its founder Pavel Durov

May 17, 2024 | 13:08 pm

Notcoin, a play-to-earn game, has donated over 1 billion NOT tokens, worth approximately $7 million, to Telegram and its founder, Pavel Durov. In a May 17 social media post, the Telegram-based project shared a screenshot showing its donation and a message expressing its gratitude to the messaging application and its founder. “Thanks for everything you […] The post Notcoin donates $7 million in tokens to Telegram and its founder Pavel Durov appeared first on CryptoSlate.

Cardano Whales Accumulate ADA as Network Upgrade Nears

May 17, 2024 | 13:01 pm

Cardano (ADA) whales have begun accumulating ADA as the coin sees trading volume from its whale wallets. Many of these large holders remain underwater on their investments. Concurrently, the project is gearing up for a crucial network upgrade – Ouroboros Genesis – aimed at bolstering its resilience and scalability. The cryptocurrency market has witnessed turbulent […] The post Cardano Whales Accumulate ADA as Network Upgrade Nears appeared first on CoinChapter.

Tether Mints Another $1B USDT: A Potential Catalyst for Bitcoin’s Rally

May 17, 2024 | 12:59 pm

TL;DR New Minting: Tether has minted an additional 1 billion USDT on the Tron Network, historically correlating with positive Bitcoin price movements. Market Impact: The minting could potentially drive Bitcoin’s price up, as Tether’s market cap exceeds $110 billion and it holds a significant amount of Bitcoin. Institutional Influence: Despite recent outflows, institutional investments in spot Bitcoin ... Read more

Why Gamety is a Hidden Gem

May 17, 2024 | 12:00 pm

Why Gamety is a Hidden Gem ● Gamety’s P2E model introduces a deflationary reward system inspired by Bitcoin, ensuring a capped token supply. ● Rewards are dynamically adjusted based on factors like active players, token price, and reward pool size, fostering a self-sustaining ecosystem. ● With accolades like the Web3 Game of the Year award, […] The post Why Gamety is a Hidden Gem appeared first on CoinChapter.

Aleph Zero Launches Alephoria: Exciting Airdrops, Tournaments, and Rewards Await Users

May 17, 2024 | 11:58 am

Zug, Switzerland, May 17th, 2024, Chainwire Alephoria invites web3 users to the Aleph Zero ecosystem with an interactive initiative of campaigns as projects launch Aleph Zero–the privacy-oriented layer 1 blockchain–is gearing up for a surge of new users with its Alephoria campaign. Newcomers can look forward to airdrops and other promotional activities as they join […] The post Aleph Zero Launches Alephoria: Exciting Airdrops, Tournaments, and Rewards Await Users appeared first on CoinJournal.

Kraken considers ending USDT support in the EU

May 17, 2024 | 11:49 am

Kraken is reportedly considering pulling support for the stablecoin USDT in Europe. The exchange’s plans come amid the push for compliance ahead of EU’s crypto regulations MiCA. Crypto exchange OKX ended its USDT trading support in the EU in March. Kraken is considering a move that would see the crypto exchange end its support for […] The post Kraken considers ending USDT support in the EU appeared first on CoinJournal.

Aleph Zero Launches Alephoria: Exciting Airdrops, Tournaments, and Rewards Await Users

May 17, 2024 | 11:44 am

Zug, Switzerland, May 17th, 2024, Chainwire Alephoria invites web3 users to the Aleph Zero ecosystem with an interactive initiative of campaigns as projects launch Aleph Zero–the privacy-oriented layer 1 blockchain–is gearing up for a surge of new users with its Alephoria campaign. Newcomers can look forward to airdrops and other promotional activities as they join […] The post Aleph Zero Launches Alephoria: Exciting Airdrops, Tournaments, and Rewards Await Users appeared first on CoinChapter.

BONE skyrockets post successful ShibaSwap Shibarium integration

May 17, 2024 | 11:00 am

Following the successful implementation of ShibaSwap to Shibarium, the project’s layer-2 scalability solution, the value of Bone ShibaSwap (BONE), the governance token of Shiba Inu’s decentralized crypto exchange platform and the official gas token of Shibarium saw a double-digit spike. The decentralized cryptocurrency trading tool ShibaSwap has finally returned to Shibarium, according to a statement …

US arrests two Chinese nationals in $73 million crypto scam

May 17, 2024 | 10:42 am

US authorities arrested Daren Li and Yicheng Zhang in connection with a $73 million money laundering scheme. The defendants laundered the money via US and international bank accounts. Proceeds of the investment scam were converted to the USDT stablecoin. The US Department of Justice has charged two Chinese nationals alleged to have played a prominent […] The post US arrests two Chinese nationals in $73 million crypto scam appeared first on CoinJournal.

MakerDAO unveils PureDai: A decentralized stablecoin with no dollar peg

May 17, 2024 | 10:40 am

MakerDAO, the decentralized autonomous organization that created the Dai stablecoin, has revealed intentions to launch a new stablecoin called PureDai. This step is intended to provide a fully decentralized alternative to Dai, which now depends on a combination of centralized and decentralized alternative collateral. It is expected that this will take place within the next …

Bitcoin poised for institutional boom: Scaramucci predicts rise

May 17, 2024 | 10:20 am

Anthony Scaramucci, the co-founder of Skybridge Capital, remains optimistic about Bitcoin. He thinks it is still on its way to becoming widely adopted. He specifically mentions the increasing focus of institutional investors as a critical factor for that possibility. In a recent interview with CNBC, Scaramucci highlighted that the regulatory obstacles previously disqualifying large-scale investors …

TikTok’s new update to automatically label AI-generated content

May 17, 2024 | 10:00 am

The automatic labeling feature will be available for images and video content, and TikTok plans to roll out the feature for audio-only media in the coming weeks. [...] Read More... The post TikTok’s new update to automatically label AI-generated content appeared first on CoinGeek.

Anichess partners with Team Secret to revolutionize chess in esports

May 17, 2024 | 10:00 am

Anichess, a subordinate of Animoca Brands and a specific game (related to Chess) which is developed due to cooperation between Chess.com and Magnus Carlsen, who is renowned for being a 5-time world chess champion, has just announced its partnership with Team Secret, a prominent and burgeoning international esports brand. The objective of this partnership is …

Solayer, a restaking protocol based in Solana, raises $20 million

May 17, 2024 | 09:40 am

A Solana-centric staking protocol known as Solayer amassed $20 million in a mere forty-five minutes while it was still in the process of being introduced. It occurred during the Genesis Epoch 0 phase. This involved limited time, a limited cap, and the assemblage of a fair amount of important investors in the Solana ecosystem. A …

Breaking News: AthenaDexFi Launches Exciting Pre-Sale for ATH Token, Unveiling Lucrative Investment Opportunities with Airdrop Bonus

May 17, 2024 | 09:35 am

In an ever-evolving investment landscape, AthenaDexFi emerges as a beacon of innovation, offering investors a diverse array of investment avenues tailored for success. Today, AthenaDexFi proudly announces the launch of its highly anticipated pre-sale for ATH Token, promising investors unparalleled profitability and peace of mind, along with an exclusive airdrop bonus. AthenaDexFi, a trailblazer in […] The post Breaking News: AthenaDexFi Launches Exciting Pre-Sale for ATH Token, Unveiling Lucrative Investment Opportunities with Airdrop Bonus appeared first on CoinChapter.

As OpenAI and Google both reveal major AI updates, Choise.ai launches AI-powered L2 blockchain for enterprises

May 17, 2024 | 09:25 am

OpenAI revealed a major update to its large language model this week with the launch of ChatGPT-4o Google confirmed the launch of Gemini for Workspace, integrating its AI model into Google’s enterprise suite Choise.ai launched an AI-powered layer 2 blockchain for enterprises AI announcements have come thick and fast this week, with Google and OpenAI […] The post As OpenAI and Google both reveal major AI updates, Choise.ai launches AI-powered L2 blockchain for enterprises appeared first on CoinJournal.

Synthetix stablecoin, sUSD, becoming more scalable and decentralized

May 17, 2024 | 09:20 am

sUSD, Synthetix’s stablecoin, is undergoing a critical phase in preparation for the V3 release, which will result in enhanced decentralization and upgradability. The previous V2x mechanism encouraged participation by minting the SNX token. It differs from the present version in that it brings in and disburses actual yield, has a buyback and burn system, and …

Velar and Bitlayer Launch First Perp DEX on Bitcoin Layer-2: Velar Artha

May 17, 2024 | 09:03 am

TL;DR Velar and Bitlayer launch the first perpetual Bitcoin DEX on the layer 2 of the network, driving decentralized financial solutions based on BTC. The DEX will allow leveraged trading of assets, including BTC, without risks associated with centralized custody, expanding investment opportunities. Bitlayer brings advanced infrastructure on Bitcoin’s layer 2, ensuring secure execution of ... Read more

BOX-GameFi Innovation in Entertainment: Integration of Blockchain Technology and Monopoly

May 17, 2024 | 09:00 am

In the rapidly evolving digital gaming and fintech landscape, BOX-GameFi leads a gaming revolution by combining blockchain technology with the classic game of Monopoly, creating a new gaming platform. This platform not only transforms players’ experience with traditional tabletop games but also connects the virtual economy with the real world, opening up new possibilities for […] The post BOX-GameFi Innovation in Entertainment: Integration of Blockchain Technology and Monopoly appeared first on CoinChapter.

DTCC, Chainlink pilot accelerates fund tokenization with major banks on board; LINK soars 7%

May 17, 2024 | 08:50 am

The Depository Trust and Clearing Corporation (DTCC), recognized as the world’s largest securities settlement system, has successfully completed a pilot project in collaboration with the blockchain oracle Chainlink and multiple major U.S. financial institutions. The term “Smart NAV” given to this pilot project intended to establish an agreed process of getting and circulating funds’ net …

Notcoin (NOT) Plunges 55% as Airdrop Farmers Sell After Launch

May 17, 2024 | 08:45 am

Notcoin (NOT) has plunged 55% post-launch as airdrop farmers sell off their holdings. The token, launched on May 16, 2024, is a part of The Open Network (TON) ecosystem and aims to onboard users into Web3 through a gaming application on Telegram. Despite its initial hype, NOT’s price has seen a significant decline, reflecting broader […] The post Notcoin (NOT) Plunges 55% as Airdrop Farmers Sell After Launch appeared first on CoinChapter.

New altcoin makes waves amid bullish Notcoin (NOT) price prediction

May 17, 2024 | 08:39 am

Notcoin’s turbulent launch saw a 53% plunge post-airdrop but bullish predictions signal recovery. AlgoTech, a decentralized trading platform, promises innovation amid ongoing presale success. AlgoTech’s ALGT token is priced at 0.08 tether in current stage. Despite a significant post-launch plunge, analysts believe Notcoin (NOT) has growth potential. Alongside this, the ongoing AlgoTech presale has garnered […] The post New altcoin makes waves amid bullish Notcoin (NOT) price prediction appeared first on CoinJournal.

Solana NFT first-time wallets rose 30%, boosting market optimism

May 17, 2024 | 08:30 am

The previous week, wallets using Solana non-fungible tokens saw a price surge. This increase in activity is a tangible reflection of the huge popularity and growing participation in the Solana NFT system. Solana is one of the top-notch non-fungible token platforms, followed by Bitcoin and Ethereum. The Solana nonfungible token has eventually become a stupendous …

ONDO Signals Possible 120% Rally By June

May 17, 2024 | 08:23 am

Ondo Finance’s native token, ONDO, has recently broken out of a descending triangle pattern, signaling a potential bullish rally of up to 120% by June. This projection aligns with Captain Faibik’s prediction of a 2x rally in the coming days. The breakout, confirmed on the daily timeframe, suggests growing interest and confidence in the project’s […] The post ONDO Signals Possible 120% Rally By June appeared first on CoinChapter.

Bitcoin: analysts predict short-term jump before a downturn

May 17, 2024 | 08:20 am

As per the consensus among analysts, the forecast for Bitcoin indicates that it will undergo a transient upswing prior to a downturn. According to Ali, a prominent cryptocurrency analyst, caution should be exercised when selling Bitcoin. He further emphasizes this by using his TD sequential indicator, which highlights the temporary nature of Bitcoin’s upswing and …

Nigeria demanded $150M bribe from Binance: report

May 17, 2024 | 08:00 am

The New York Times reported on the alleged bribe, with Binance CEO Richard Teng finally breaking his silence last week and accusing Nigeria of double standards and deception. [...] Read More... The post Nigeria demanded $150M bribe from Binance: report appeared first on CoinGeek.

Dexfly Collaborates with Top Global Banks to Launch Digital Asset Custody Services

May 17, 2024 | 08:00 am

Dexfly Exchange announced today its strategic collaboration with several top global banks to launch advanced digital asset custody services. This service utilizes bank-grade security measures to ensure the safety and reliability of user assets. This initiative not only attracts a significant number of institutional investors but also provides enhanced asset security for individual users. Bank-Grade […] The post Dexfly Collaborates with Top Global Banks to Launch Digital Asset Custody Services appeared first on CoinChapter.

Solana-based platform Pump.fun loses $2M in flash loan exploit

May 17, 2024 | 08:00 am

Pump.fun, a Solana platform, has suffered a loss of $2 million. The perpetrator used flash loans to acquire SOL, followed by Pump.fun meme coins. The breach of the bonding curve was a resultant factor. Pump.fun stated that it has strengthened its contracts to stop the hackers from taking more money and that all wallets linked …

Ethereum price corrects technically after the rise

May 17, 2024 | 07:25 am

Ethereum is currently testing its $2,925 support, and it anticipates a massive price hike in the coming days. After the bears defended $3,040, ETH entered a downside correction stage. According to recent market reports, the Ethereum price trades below $2,960, as does the 100-hourly Simple Moving Average. The recent market trend is linked to a …

Nigerian Court Clears Binance Executive for Trial in Tax Evasion Case

May 17, 2024 | 07:11 am

A Nigerian court's ruling today (Friday) has paved the way for Binance executive Tigran Gambaryan to stand trial on behalf of the cryptocurrency exchange in an ongoing tax evasion case. Alongside Gambaryan, a US citizen and Head of Financial Crimes Compliance, British-Kenyan national Nadeem Anjarwalla, a Regional Manager for Africa, also faces four counts of tax evasion.In addition to the tax evasion charges, they have been accused of laundering over $35 million and engaging in specialized financial activities without a license. Despite the charges, all parties involved have maintained their innocence regarding the money laundering accusations.Concerns over Detentions During Crypto TalksFollowing Friday's court hearing, both Binance's lawyer and Gambaryan's lawyer declined to offer comments. Gambaryan remains in custody, while Anjarwalla reportedly fled the country in March. Efforts are underway by Nigerian authorities, in collaboration with Interpol, to locate and apprehend Anjarwalla.The CEO of Binance has criticized Nigeria, alleging that the country's actions set a dangerous precedent. The executives were initially invited to Nigeria in February for discussions with authorities but were subsequently detained as part of a broader crackdown on cryptocurrency.Nigeria Links Currency Woes to Crypto PlatformsAlthough Binance itself has not been charged in the tax evasion case, Nigeria's Federal Inland Revenue Service has indicated that Gambaryan could face charges on the exchange's behalf. Gambaryan's lawyer has argued that he had no formal role within Binance and no explicit instructions to represent the company in legal matters.Judge Emeka Nwite's ruling on Friday determined that Gambaryan should be served with the charges against Binance due to his position as the chief financial compliance officer and his appointment to represent the company during meetings in Nigeria.Gambaryan is scheduled to appear in court on Wednesday to enter a plea on behalf of Binance. However, his bail application related to the money laundering case was denied.Nigeria has attributed its currency challenges partly to Binance, alleging that cryptocurrency platforms contributed to trading the Nigerian naira amidst ongoing dollar shortages in the country. This article was written by Tareq Sikder at www.financemagnates.com.

NEAR Chain Signatures restructure creation of multichain Web3 app

May 17, 2024 | 06:50 am

NEAR Chain Signatures has restructured the process of creating multichain Web3 applications for various use cases, such as DAOs, NFT minting, and airdrops. It adds robust smart contract functions to non-smart contract chains such as BTC and XRP, benefiting users and builders. Prior to this, the entire process came with its own set of bottlenecks, …

Shiba Inu News Today: Top Crypto Trader Predicts 50% Uplift Amidst Meme Coin Rise, Here’s Why O2T Has Broken Into This Market

May 17, 2024 | 06:44 am

The resurgence of Shiba Inu (SHIB) with a predicted 50% uplift highlights the ongoing appeal of meme coins in the cryptocurrency market. However, the entry of Option2Trade (O2T) into this space showcases the evolving nature of investor preferences, with a growing appetite for innovative and potentially more stable investment opportunities. As both Shiba Inu (SHIB) […] The post Shiba Inu News Today: Top Crypto Trader Predicts 50% Uplift Amidst Meme Coin Rise, Here’s Why O2T Has Broken Into This Market appeared first on CoinChapter.

Galaxis Introduces AI-Powered Suite to Revolutionize Community Creation for Creators

May 17, 2024 | 06:30 am

Galaxis, a leading platform for creators in the Web3 space, notable for its partnerships with high-profile figures such as Mike Tyson, Steve Aoki, and the NBA, has announced the upcoming launch of its new AI-powered Community Creator suite, designed to streamline and enhance the community creation process on their Membership Card platform. This initiative is […] The post Galaxis Introduces AI-Powered Suite to Revolutionize Community Creation for Creators appeared first on CoinChapter.

Fantom’s Sonic Upgrade Fuels Impressive TVL Surge: FTM Ready to Soar?

May 17, 2024 | 06:27 am

TL;DR Fantom’s Sonic upgrade drives a notable increase in the performance of the FTM token, reflecting the success of the platform’s strategic initiatives. FTM rose by 10.20% over the last seven days, reaching $0.8082, an appreciation of 20 cents compared to the previous week. The protocol’s TVL has experienced an 83% growth, from $111 million ... Read more

XRP on the verge: Price hints at breakout, key levels to watch

May 17, 2024 | 06:20 am

In the latest news, the cryptocurrency market saw the value of XRP decline following a period of constant growth. The $0.520 resistance is observed, which is the same as the fluctuations in Bitcoin and Ethereum. In the meantime, the continuous sale of XRP pushed it below its support level of $0.5180. However, the current pullback …

US Senate AI Working Group releases roadmap for AI legislation, funding and research

May 17, 2024 | 06:00 am

The roadmap included recommendations on regulatory actions and a call for Congress to approve $32 billion in funding for AI research to keep the U.S. ahead of China and other countries. [...] Read More... The post US Senate AI Working Group releases roadmap for AI legislation, funding and research appeared first on CoinGeek.

New Study Reveals What is the Fastest Blockchain in the World. Find out here!

May 17, 2024 | 05:58 am

TL;DR Solana’s Speed: Solana boasts an astonishing average of 1,504 transactions per second (TPS), making it 46 times faster than Ethereum and over five times faster than Polygon, the leading Ethereum scaling solution. Non-EVM vs. EVM Blockchains: Non-EVM blockchains, like Solana, typically outperform EVM-compatible ones. On average, non-EVM blockchains are 3.9 times quicker. Sui, another non-EVM blockchain, achieved the second-highest ... Read more

Binance and Taiwan Collaborate to Resolve $6.2 Million Crypto Fraud

May 17, 2024 | 05:49 am

The Financial Crimes Compliance department of Binance has partnered with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office to address a money laundering case involving 200 million New Taiwan dollars ($6.2 million) in digital asset fraud.Gathering Evidence in Crypto Fraud CaseAn official statement revealed that the operation targeted criminals who laundered illegal proceeds through cryptocurrency transactions. The perpetrators used fake remittance documents, counterfeit identification, and manipulated communication records to avoid detection by law enforcement.With Binance's assistance, Lo Wei-yuan, a prosecutor in the Taipei District Prosecutors Office, was able to gather evidence against nine individuals charged with money laundering, fraud, and organized crime.In 2023, Binance applied to be registered under Taiwan’s Financial Supervisory Commission (FSC) and Money Laundering Control Act. The exchange has been acknowledged by local regulatory bodies for its cooperation in investigations into digital asset fraud.Just in:🚨 #Binance teams up with Taiwan’s Ministry of Justice and Taipei Prosecutors to solve a $6M #crypto money laundering case. Their Financial Crimes Compliance team’s expertise was key in catching the culprits. #CryptoNews #Blockchain pic.twitter.com/54reTah09I— Crypto Fusion (@cryptofusionorg) May 17, 2024Earlier, Binance collaborated with Thai law enforcement to combat cryptocurrency scams, including a major "pig butchering" scam in Thailand, as Finance Magnates reported. Their joint efforts with US Homeland Security Investigation and the Cyber Crime Investigation Bureau led to the arrest of five key criminals and the seizure of THB 10 billion ($277 million) in assets, such as luxury cars and properties.Taiwan Prepares for Crypto RegulationsTaiwanese regulators are preparing to introduce cryptocurrency regulations by the end of 2024. FSC Chairman Huang Tianzhu has expressed concerns about the use of cryptocurrencies for illegal activities and plans to enhance oversight of crypto exchanges and impose penalties.Taiwan’s Ministry of Justice has suggested amendments to current AML laws, potentially imposing jail terms of up to two years and fines of up to $1.5 million for noncompliant firms. These amendments aim to strengthen measures against fraud and enhance money laundering prevention for crypto service providers. This article was written by Tareq Sikder at www.financemagnates.com.

AMF warns: Bybit operates without approval in France

May 17, 2024 | 05:45 am

Bybit, a prominent cryptocurrency exchange, has recently faced regulatory scrutiny in France. Despite the cryptocurrency exchange, it has been in the market for five years. The exchange is estimated to have a user base of 20 million around the world. The fact that the exchange is not authorized to operate in France has kept it …

Chainlink Completes Fund Tokenization Pilot with Major Banks, LINK Skyrockets 18%!

May 17, 2024 | 05:44 am

TL;DR DTCC, Chainlink, and several financial institutions successfully complete a pilot to tokenize funds. Key financial players like JPMorgan, Templeton, and BNY Mellon participated alongside Chainlink. The pilot demonstrates the possibility of embedding fundamental data in multiple on-chain use cases, increasing operational efficiency. The Depository Trust and Clearing Corporation (DTCC), in collaboration with Chainlink and ... Read more

XRP Lawyer Deaton hits back at SEC and Warren over crypto regulation

May 17, 2024 | 05:15 am

John Deaton, a well-known lawyer who has spoken publicly in favor of XRP, recently published a devastating review of both the Securities and Exchange Commission (SEC) and Senator Elizabeth Warren. He opines that the above entities are more concerned about their political agendas than those of the investors. He dryly points to SEC Chairman Gary …

Is Donald Trump’s Memecoin MAGA The Riskiest Yet Most Profitable Crypto Bet in 2024?

May 17, 2024 | 05:11 am

The presidential election in November 2024 is shaping up to be a critical event not only for American politics but also for the cryptocurrency market. Initially, Donald Trump was a vocal critic of cryptocurrencies. He described Bitcoin as a "scam" and expressed skepticism about its value and utility. However, his view has changed significantly over the years. The post Is Donald Trump’s Memecoin MAGA The Riskiest Yet Most Profitable Crypto Bet in 2024? appeared first on CoinChapter.

Market Alert: Massive Bitcoin and Ethereum Options Expire Today

May 17, 2024 | 05:05 am

TL;DR Massive Expiry: A substantial number of Bitcoin and Ethereum options, valued at $2.1 billion, are set to expire today, potentially impacting market dynamics. Market Sentiment: Bitcoin options show a preference for calls with a Put Call Ratio of 0.63 and a Maxpain point at $63,000, while Ethereum’s bullish sentiment is even stronger with a Put Call Ratio of 0.28 and a Maxpain ... Read more

Crypto ETF race intensifies with US and Hong Kong spot crypto ETFs

May 17, 2024 | 04:50 am

Other countries and global markets will soon join the digital asset race, including Australia. Recently, the American Securities and Exchange Commission approved spot Bitcoin ETFs. Hong Kong also took a similar initiative, approving spot Ether Exchange Traded Funds. The US performed better than Hong Kong in terms of trading volume, and there are no signs …

Solana’s First Restaking Protocol, Solayer, is an Absolute Success: $20M in 45 Minutes

May 17, 2024 | 04:40 am

TL;DR Solayer reached a deposit limit of $20 million in 45 minutes during its initial launch, reflecting strong investor support. The protocol allows for restaking SOL and other liquid staking products, with assets locked until “epoch 3” to ensure a solid foundation. They aim to raise $8 million to develop their shared security infrastructure and ... Read more

SEC says crypto exchanges are delisting Naira from P2P platforms

May 17, 2024 | 04:25 am

The Securities and Exchange Commission (SEC) recently announced that cryptocurrency exchanges have begun delisting the Naira for peer-to-peer (P2P) trading platforms. The SEC and the Office of the National Security Advisor (ONSA) issued an order the week prior mandating that digital currency companies deregister Naira from their platforms in order to prevent the currency from …

Bitcoin ETFs Hit $5.65 Billion in Volume, Signaling Market Revival

May 17, 2024 | 04:13 am

TL;DR Surging Volumes: Bitcoin ETFs have seen a remarkable $5.65 billion in daily volume, indicating a revival in market activity and investor confidence as Bitcoin’s price nears $67,000. Institutional Interest: There’s a notable trend of consecutive net inflows into US spot Bitcoin ETFs, with BlackRock’s IBIT leading the pack. Over 937 professional firms have invested in these ETFs, showcasing the growing ... Read more

Tether still can’t dodge crime links while rival Circle builds US support

May 17, 2024 | 04:00 am

The Public Security Bureau in Chengdu, China, recently announced the disruption of a “huge underground bank” that used Tether’s USDT token as “a medium to provide illegal services to customers.” [...] Read More... The post Tether still can’t dodge crime links while rival Circle builds US support appeared first on CoinGeek.

Ouroboros Genesis: Unveiling the latest design innovations

May 17, 2024 | 03:45 am

The appearance of Ouroboros Genesis marks a significant step forward in the process of creating Cardano’s core consensus protocol, Ouroboros. This update is designed to safeguard users who have recently joined the network or returned to the network. The Cardano blockchain runs on the Ouroboros protocol, which has undergone several revisions since its inception. Ouroboros …

Aussie Frontman of BitConnect Pleads Guilty

May 16, 2024 | 22:58 pm

BitConnect’s national promoter in Australia, John Bigatton, pled guilty to his role in promoting the scam after three and a half years of his indictment. He promoted the fraudulent cryptocurrency scheme on social media, hosted seminars across the country, and had face-to-face meetings with victims, persuading them to invest in the scheme.Bigatton pled guilty to a criminal charge of offering unlicensed financial services before the Sydney District Court on 16 May and will receive his sentence on 5 July. He is facing a monetary penalty as well as jail time of up to two years.A $2.4 Billion Crypto ScamBitConnect was one of the largest cryptocurrency scams, duping investors of about US$2.4 billion globally. The scheme lured victims with absurdly high fixed interest rates.As the Australian Securities and Investment Commission (ASIC) detailed, the fraudulent scheme even offered a lending platform which was promoted as an investment opportunity. Investors needed to acquire the platform’s native BitConnect coin to participate in the investment scheme. Investors could invest or loan these tokens for promised fixed returns.However, the platform did not allow the investors to withdraw any of their loan amounts until the expiry of the lending period.BitConnect promoted its scheme heavily in 2016 and 2017 globally. The scheme incentivised invites and referrals to grow its network of investors or, rather, victims. The crypto scheme suddenly evaporated in 2018, with the disappearance of its websites and social media handles, leading to investigations by agencies in several countries.Promoting BitConnect in AustraliaBigatton, the Australian promoter of the scheme, promoted BitConnect locally in the country. According to ASIC, he promoted the scheme, its lending platform, and tokens. He conducted four seminars across the country and promoted the scheme with two social media posts.Although it is unclear if Bigatton was aware of the scheme's fraudulent nature, ASIC indicted him for offering financial services products without holding a licence. ASIC's first action against the Aussie BitConnect promoter was to ban him from providing financial services for seven years. He was later arrested for his role in promoting the scheme.“A related charge of operating an unregistered managed investment scheme was withdrawn following Mr Bigatton pleading guilty to the charge for which he is to be sentenced,” the regulator noted.Meanwhile, the US securities market regulator indicted BitConnect’s founder, Satish Kumbhani, and its top US promoter, Glenn Arcaro, and subsequently obtained a judgment for recovery and civil penalties. The US agencies also settled with other BitConnect promoters.Last year, a San Diego federal district court ordered the distribution of over $17 million in restitution among 800 victims of BitConnect across over 40 countries. This article was written by Arnab Shome at www.financemagnates.com.

Internet Computer (ICP) Reveals Updated Roadmap Focused on Decentralized AI and Privacy

May 16, 2024 | 11:02 am

TL;DR The DFINITY Foundation presents a detailed work plan for Internet Computer (ICP), a rapidly growing blockchain backed by significant investors. The new plan focuses on nine key areas, such as decentralized artificial intelligence, on-chain privacy, and interoperability with other blockchains like Ethereum and Bitcoin. ICP’s development is expected to address the challenges of on-chain ... Read more

HashKey Capital Secures Dual Licenses for Retail Crypto Services in Hong Kong

May 16, 2024 | 02:50 am

The virtual asset management provider HashKey Capital Limited has secured both Type 4 and upgraded Type 9 licenses from the Securities and Futures Commission (SFC), becoming the first licensed corporation to offer a complete suite of securities and virtual asset management and advisory services to retail investors in Hong Kong.Representatives of the company told Finance Magnates that this move aims to position HashKey Capital as one of the leading cryptocurrency firms operating in the region.HashKey Capital Secures Dual Licenses in Hong KongThe Type 4 license, obtained under license number BOP237, authorizes HashKey Capital to provide securities and virtual asset advisory services, subject to conditions such as due diligence and investor knowledge assessments.https://t.co/ervI3yxvKy— HashKey Capital (@HashKey_Capital) May 13, 2024This milestone follows the firm's successful Type 9 license upgrade earlier this year, which allowed it to manage virtual asset investment products for retail investors.“We are now the only entity with double licensure in Hong Kong,” Jupiter Zheng, the Research Director at HashKey Capital, explained to Finance Magnates. “This means we can offer a full suite of products and services for retail and institutional investors.”As he emphasized, the company offers several different products, which can be brought together thanks to the dual license. Among them are in-house fund offerings, investment product advisory, research reporting, and investor education in digital assets.“For TradFi investors, these licenses increase confidence in our ability to bring compliant investment services to the public,” added Vivien Wong, the Partner Liquid Fund at HashKey Capital.A month ago, the Asian firm also introduced the HashKey Global exchange after obtaining a license in Bermuda to offer regulated digital asset trading services.Suitability TestTo access HashKey Capital's virtual asset advisory services, all clients must pass a suitability test, which helps the firm understand investors' financial status, geopolitical status, investment perspective, and risk tolerance“All clients, whether they are retail or institutional investors, must pass a suitability test, before HashKey Capital can perform its virtual assets advisory services to them,” Wong, added. “The suitability test will help HashKey Capital to understand the financial status and can determine which kind of advice to be delivered to them.”As she emphasized, additional tests will be conducted regularly, and KYC procedures will be carried out for their investors.The latest moves follow the introduction of the Bosera HashKey Bitcoin and Ether spot ETFs, managed by Bosera Asset Management (International) Co., Limited, with HashKey Capital Limited serving as the sub-investment manager. Since its inception, HashKey Capital has managed over $1 billion in client assets and has made more than 500 investments in infrastructure, tools, and applications This article was written by Damian Chmiel at www.financemagnates.com.

CME Plans to Launch Spot Bitcoin Trading amid Futures Dominance: Report

May 16, 2024 | 01:13 am

Chicago Mercantile Exchange (CME), known for operating one of the largest US-based futures exchanges, is planning to offer spot Bitcoin trading to its clients, according to a report by the Financial Times.CME Expansion in Crypto MarketsAlthough not officially confirmed or commented on by the exchange, the plans to offer Bitcoin trading came when demand for the cryptocurrency among Wall Street money managers was surging. If launched, it would not be CME’s first foray into cryptocurrencies. The Chicago-based exchange is already operating a cryptocurrency futures exchange, which offers standard and micro futures contracts of Bitcoin and Ether. CME even ranks at the top of Bitcoin futures exchanges in terms of open interest, surpassing Binance, which otherwise dominates the spot market.Although the report outlines that CME’s plan to launch Bitcoin trading is not yet finalised, it would allow investors to place so-called basis trades more easily, a common strategy among professional Bitcoin traders. Basis trades involve borrowing money to sell futures and simultaneously purchasing the underlying asset, opening the opportunity to profit from the small price gap between the two.Mainstream Players in CryptoGiants like Deutsche Börse also entered the cryptocurrency market this year. CME’s rival, CBOE Global Markets, is already offering crypto spot trading, which it will soon discontinue due to the country's lack of regulations.Indeed, while Europe is gearing up for crypto regulations with the incoming Markets in Crypto-Assets Regulation (MiCA), the US is lagging behind. While US regulators unanimously agreed to consider Bitcoin a commodity, the status of other crypto assets remains unclear. Recently, the company behind the popular wallet platform MetaMask sued the Securities and Exchange Commission (SEC) to prevent it from labelling Ethereum as a security. Meanwhile, Coinbase is already fighting a legal battle against the SEC over the clarification of crypto rules in the country.Despite the murky regulations, the SEC approved Bitcoin exchange-traded funds last January, ending years of anticipation. These instruments have opened the opportunity to easily invest in Bitcoin for retail and institutional investors alike. Meanwhile, Vanguard, which has maintained an anti-crypto stance, recently named Salim Ramji, the previous executive at BlackRock who oversaw the launch of Bitcoin ETF, as the incoming Chief Executive. This article was written by Arnab Shome at www.financemagnates.com.

AMF Warns French Investors about Bybit Crypto Exchange

May 16, 2024 | 01:13 am

The cryptocurrency exchange Bybit has experienced significant growth over the past year and, after five years of operation, has surpassed 20 million users. However, its expansion is not as dynamic in some regions due to local regulatory challenges.One such example is France, where the local financial commission, AMF, blacklisted Bybit two years ago. Now, the national regulator issued a new warning to retail investors about the exchange, reminding of its lack of authorization in this part of Europe. The exchange itself also commented on the matter, reminding that it "proactively exited the French market in October 2023."AMF Reminds: Bybit is Blacklisted in FranceUnder French law, digital asset service providers (DASPs) must register with the AMF before offering services connected to digital assets, including operating a crypto trading platform. This mandatory registration helps “maintain public order though prevention of money laundering and terrorist financing, to verify the good repute and competence of its directors, or even to impose specific measures to protect retail investors,” the AMF stated.Bybit, however, has not registered as a DASP and is therefore operating “illegally” in France. The AMF emphasizes that unregistered platforms providing these services violate French law.Representatives of Bybit, on the other hand, stated that they "had been working very closely with the AMF and were in the process of seeking a license." Wanting to ensure full compliance with local regulations, the company decided to exit the local market in 2023.The AMF issued a similar warning against another well-performing cryptocurrency exchange, Bitget, over a month ago. The warning closely resembles the one concerning Bybit.AMF Considers Legal Action, Urges Investor CautionIn addition, the AMF “reserves the right to take legal action to block the platform's website” in France. The regulator is urging French retail investors who have invested through Bybit to take necessary measures to avoid losing access to their assets. “All investors must make arrangements for the eventuality that the platform suddenly ceases to provide services to the public residing in France.”The AMF reminds investors to consult its whitelist of registered DASPs on its website before investing in cryptocurrencies or related assets.Two months ago, Bybit also came under scrutiny from another regulator, Hong Kong's Securities and Futures Commission (SFC). The SFC warned investors about Bybit and several of its offerings, highlighting the cryptocurrency exchange's lack of licensing and cautioning about the risks of engaging with the firm. The regulator flagged 11 of Bybit's products as suspicious investments, raising concerns about potential risks to investors.Second Biggest in Crypto Spot VolumesHowever, the exchange appears to be performing well in other regions and continues to introduce new features. In May, Bybit announced the launch of Bybit P2P Shield, a program designed to enhance user security and trust in its peer-to-peer (P2P) trading platform. Additionally, Bybit has introduced a new feature to improve the user experience for crypto purchases. By integrating Google Pay, Bybit is offering a streamlined approach to acquiring digital assets, signaling a shift in the landscape of cryptocurrency transactions.It is also worth noting that, according to the Finance Magnates Intelligence benchmark, Bybit ranked second among the largest cryptocurrency platforms in terms of spot trading volumes in April. Bybit's volume in April 2024 reached $138 billion, a sixfold increase compared to the same month the previous year. This article was written by Damian Chmiel at www.financemagnates.com.

BVNK Embeds PayPal USD Stablecoin Expanding Payment Options

May 16, 2024 | 01:00 am

BVNK, a payments infrastructure provider, has declared the integration of PayPal USD (PYUSD), a stablecoin, into its platform. The issuance of PYUSD is solely handled by Paxos Trust Company, under the regulatory oversight of the New York Department of Financial Services (NYDFS).Enhancing Payment Options This integration allows businesses to access PYUSD, a stablecoin pegged to the US dollar, through BVNK's payments platform. Alongside PYUSD, users can also engage with 14 other popular digital currencies, leading stablecoins, and 25 fiat currencies. As an approved participant in the PYUSD ecosystem, BVNK possesses the capability to both create and remove PYUSD tokens for its clientele.BVNK Co-Founder and VP of Commercial Strategy Chris Harmse, said: “We’re building modern payments infrastructure to enable more businesses to operate across banks and blockchains and maximise financial flexibility.” “Stablecoins make up almost 90% of the payments we process, and they’re very important to our customers as a way to settle global payments efficiently. We’re thrilled to introduce PYUSD to our platform. As a stablecoin that connects into PayPal’s extensive payments network, it’s a valuable payment option for many businesses.”PYUSD Conversions to Major Fiat CurrenciesThrough this integration, BVNK customers gain access to various functionalities, including creating PYUSD wallets, settling payments to suppliers, contractors, and employees worldwide, and accepting consumer payments in PYUSD. Additionally, users can convert PYUSD into fiat currencies such as EUR and GBP through BVNK's API, hosted payments page, or merchant portal. It's worth noting that while PYUSD operates within regulatory frameworks overseen by NYDFS, it is not currently regulated in the UK.Nick Robnett, Head of Asset Growth at Paxos said: “PYUSD is bringing greater trust to digital assets. We're seeing growth every day as it’s rolled out across the PayPal ecosystem – and we’re delighted to team up with BVNK to give more businesses access to PYUSD, and more options for how they move their money globally.” This article was written by Tareq Sikder at www.financemagnates.com.

Canadian “Crypto King” Arrested and Charged for $30 Million Fraud

May 15, 2024 | 22:31 pm

The authorities in Canada have arrested Aiden Pleterski, who called himself the “Crypto King,” and charged him with fraud and money laundering. He allegedly swindled investors out of CAD 40 million (about USD 30 million) with his crypto and foreign exchange Ponzi investment scheme.The Fall of “Crypto King”The announcement yesterday (Wednesday) by the Ontario Securities Commission (OSC) detailed that, along with the 25-year-old Pleterski, the authorities also charged his associate, 27-year-old Colin Murphy, with fraud. The arrest and the charges came after a 16-month-long joint investigation by the OSC and the Durham Regional Police Service (DRPS). Dubbed Project Swan, the investigation started amid the bankruptcy case tied to the investment scheme that gathered media attention.“The DRPS and the OSC urge investors to always check the registration of any person or business trying to sell them an investment or provide investment advice,” the announcement stated.Meanwhile, Pleterski has received bail against a CAD 100,000 bond signed by his parents. However, he needed to surrender his passport and must refrain from posting about financial matters on social media. He was further ordered not to trade cryptocurrencies.A Luxurious Life with Investors’ MoneyPleterski started to operate the investment scheme under his company, AP Private Equity Limited, and received about CAD 40 million (about USD 30 million) from approximately 160 investors between 2021 and 2022. He promised to invest the proceeds on behalf of the investors in crypto and forex markets.According to the trustee overseeing the bankruptcy case, Pleterski invested only 2 percent of the proceeds he collected from the investors and misappropriated the rest, spending at least CAD 16 million on luxury cars, international travel, and even renting a lakefront mansion.View this post on InstagramA post shared by aiden pleterski (@aiden.ptrs)He was also a small-time live streamer and showcased his luxurious lifestyle on social media. During the bankruptcy process, the administrators seized two McLarens, two BMWs, and one Lamborghini.Interestingly, Pleterski was also kidnapped by five victims of his alleged Ponzi scheme in December 2022 and then beaten and tortured during his three-day-long captivity. Following his release, he posted a 12-minute-long apology video on social media for his investors, which his lawyer later said was coerced. The Canadian authorities already arrested four of the alleged perpetrators involved in Pleterski’s kidnapping and charged them. This article was written by Arnab Shome at www.financemagnates.com.

Binance Introduces Spot Copy Trading to Enhance Offerings

May 15, 2024 | 10:04 am

Binance has introduced spot copy trading to enable traders to replicate expert trading strategies. The new feature allows users to automatically replicate the trades of lead traders. Unlike futures trading, which involves leverage and heightened risk, spot trading offers a more straightforward approach, Binance said in a statement today (Wednesday).Up to 10 Lead TradersThis development followed the launch of Binance’s futures copy trading last year. To use the latest feature, users must select a lead trader and allocate investment funds. The offering enables users to diversify their portfolios and track performance with the ability to simultaneously copy up to 10 lead traders.On the other hand, lead traders can monetize their expertise by earning a share of profits from their copy traders and a commission on trading fees. The new feature displays information about the performance of lead traders and their strategies. According to Binance, spot copy trading promotes trust and confidence while offering learning opportunities for users.You asked and we listened.Introducing Spot Copy Trading on #Binance!Replicate strategies of #Binance top traders in a few clicks.Get started 👉 https://t.co/kY1KnOjw0T pic.twitter.com/QsVtPewuXj— Binance (@binance) May 15, 2024Last year, Binance rolled out copy trading for its futures products in selected markets. This feature enables users to emulate the trading portfolios and strategies of experienced traders, fostering greater engagement and interaction within the trading community while offering opportunities for lead traders.Binance's futures copy trading allows users to customize their trading experience according to their preferences and risk tolerance. The platform offers two distinct modes: "fixed amount" and "fixed ratio." The former allows copy traders to specify a predetermined amount for copying trades, while the latter enables them to follow lead traders' strategies based on their account balance.Binance Expands Copy Trading ProgramLead traders participating in Binance's copy trading program could benefit from various incentives. They can earn a 10 percent profit share and receive a trading commission rebate from copy traders who replicate their trades. Moreover, lead traders have the opportunity to share their trading strategies and techniques on Binance Feed, further enhancing community engagement and knowledge dissemination.Meanwhile, The US Department of Justice (DOJ) recently selected Forensic Risk Alliance to oversee Binance's compliance with money-laundering regulations and trade sanctions. This decision is part of a plea deal between the DOJ and Binance concerning allegations of violating financial regulations. It followed legal challenges facing Binance, including a $4.3 billion settlement with the DOJ and a lawsuit filed by the Securities and Exchange Commission alleging securities law violations. This article was written by Jared Kirui at www.financemagnates.com.

Stablecoin Issuer Circle to Shift Legal Base from Ireland to US: Report

May 15, 2024 | 05:49 am

Stablecoin issuer Circle plans to move its legal base from Ireland to the US, according to recent court filings, Bloomberg reported. This action is significant for the company behind the second-largest stablecoin, USDC, ahead of its anticipated initial public offering. The decision to shift its legal base has significant implications for Circle, particularly in terms of taxes. While Ireland has been attractive to multinational corporations due to its relatively low corporate taxes, recent reforms imposing a minimum 15% tax on the profits of larger multinationals have eroded some of that advantage. Business Dynamics By moving to the US, Circle may face heavier tax obligations, signaling a strategic decision amidst evolving global tax regulations. Circle is behind USDC, a stablecoin with a market capitalization of more than $30 billion. Despite facing challenges in the past, including banking issues with Silicon Valley Bank, USDC has experienced a recovery amid positive sentiment in the crypto market. Circle's latest decision is closely monitored by traditional finance players and the crypto community. The company is backed by Wall Street giants, including Goldman Sachs Group Inc., BlackRock, and Fidelity Management and Research, as well as major crypto exchanges like Coinbase.Last year, Bloomberg reported that Circle was contemplating going public despite a previous failed attempt to list via a reverse merger. The Boston-based company is reportedly preparing for a second attempt at an initial public offering this year.In Talks with Advisers While Circle has not officially confirmed these talks, sources familiar with the matter suggest that the company is engaged in discussions with advisers to prepare for the potential IPO. However, uncertainty looms over whether Circle will ultimately proceed with the public listing, highlighting the cautious approach in the volatile cryptocurrency market.Established in 2013, Circle has emerged as a key player in the cryptocurrency ecosystem, particularly with its USDC stablecoin. Previously, Circle attempted to go public in partnership with Concord Acquisition Corp. in a transaction valuing the stablecoin issuer at $9 billion. Despite its ambitions, Circle faced challenges after the collapse of its banking partner, Silicon Valley Bank. This event threatened to de-peg USDC but was mitigated by a US government bailout package. This article was written by Jared Kirui at www.financemagnates.com.

Interactive Brokers Brings Crypto Trading to UK Customers

May 15, 2024 | 04:03 am

Interactive Brokers (Nasdaq: IBKR) has expanded its offerings on its platform in the United Kingdom by launching cryptocurrency trading. Investors, both individuals and institutional, onboarded under the brokerage's UK entity can now trade four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.Expansion of Crypto TradingAnnounced today (Wednesday), the US-headquartered broker has introduced crypto services in partnership with Paxos, similar to its services in its home country. Although offered in partnership with a third-party crypto exchange, Interactive Brokers highlighted that its users can trade cryptocurrencies along with instruments of other asset classes from the same brokerage account.“Introducing cryptocurrency trading gives UK clients enhanced flexibility to invest across markets and asset classes while also adding exposure to digital assets,” said Gerald Perez, CEO of Interactive Brokers' UK entity.Interactive Brokers is not the only broker to expanse its crypto services. Recently Robinhood also launched staking services under its crypto platfrom for its customers in Europe.Low FeesFor the cryptocurrency trades, Interactive Brokers promises a commission between 0.12 percent and 0.18 percent of the trade value, with a minimum of $1.75 per order. It also clarified that there will not be added spreads, custody fees, or markups.It further highlighted that cryptocurrencies are denominated in USD on its platforms. However, it will allow its UK clients to convert GBP to USD with tight spreads of up to 1/10 of a pip.Interactive Brokers is a popular brokerage brand with a global presence. The platform first offered cryptocurrency trading in September 2021, a service it launched with its Paxos partnership. Last year, it teamed up with Zero Hash, a crypto infrastructure platform, to offer crypto trading and custody services. The Hong Kong-registered entity of Interactive Brokers also obtained a local licence in the autonomous region to offer retail crypto trading.Apart from its offerings with third-party crypto partners, the broker is allowing its customers to take exposure to Bitcoin, investing in the Bitcoin exchange-traded funds (ETFs) approved by the US Securities and Exchange Commission.Meanwhile, total revenue at Interactive Brokers was up 42 percent to $4.3 billion in 2023, which compares very favourably with the 5 percent rise recorded by IG in its last fiscal year, Saxo’s 11 percent, and Fidelity’s 12 percent increase. This article was written by Arnab Shome at www.financemagnates.com.

Robinhood Bets Big on Crypto in Europe: Launches Staking

May 15, 2024 | 01:29 am

Although Robinhood may face enforcement actions in the United States for its cryptocurrency offerings, it is expanding its services in Europe further. Today (Wednesday), the brokerage has announced its first crypto staking services for Solana holders, which will be available only to its customers in Europe.Robinhood's First Crypto Staking ServiceApart from staking, the American-headquartered brokerage firm is also launching its crypto investment app in three local languages in three European countries: Italy, Poland, and Lithuania. The move is very strategic, as these are the three top countries in the continent with Robinhood Crypto app downloads.The brokerage's European crypto offerings were enhanced only six months after its launch on the continent. The platform is onboarding European Union users under its Lithuania-licensed entity.“Since launching at the end of last year, our customers in Europe have told us loud and clear that they want an app that provides local language support and products that help them earn additional passive income,” said Johann Kerbrat, VP and GM of Robinhood Crypto.The platform also revealed that Bitcoin (BTC), Dogecoin (DOGE), Solana (SOL), and Ethereum (ETH) are the favourites of its European users as they brought in the highest trading volume in the continent since launch.Furthermore, Robinhood Crypto revealed that it is the first crypto trading platform for a third of its users in Europe.Crypto Pays OffRobinhood entered Europe last December with its crypto trading services, but it has been offering the same in the United States for years. However, on its home turf, the company has always been very cautious with its crypto-based offerings: the number of crypto listings is limited and it is not offering staking services.Despite these cautious moves, crypto transactions remained a massive revenue booster for the brokerage. As Finance Magnates reported, the cryptocurrency revenue of the platform in the first three months of 2024 jumped by 232 percent to reach $126 million. The revenue was driven by the notional crypto trading volume in the quarter, which reached $36 billion, 224 percent higher.However, earlier this month, Robinhood’s cryptocurrency trading arm received a Wells Notice from the Securities and Exchange Commission. In a subsequent public statement, Robinhood highlighted that it expects future regulatory actions to “involve a civil injunctive action, public administrative proceeding, and/or a cease-and-desist proceeding,” along with civil money penalties and limitations on activities. This article was written by Arnab Shome at www.financemagnates.com.

Tornado Cash Developer Fails to Mix Himself Out of 64-Month Prison Sentence

May 14, 2024 | 23:05 pm

The Oost-Brabant district court in the Netherlands has sentenced Alexey Pertsev, co-developer of the popular cryptocurrency mixing tool Tornado Cash, to 64 months in prison for his role in creating and maintaining the platform. The court alleges that Tornado Cash enables "criminal activity and terrorism" by concealing the origin, destination and ownership of the crypto transactions.Tornado Cash Developer Sentenced to 5 Years and 4 Months Behind BarsPertsev, along with two other individuals, developed Tornado Cash to offer privacy solutions for the crypto community. However, the court's investigation revealed that the tool allegedly facilitated the laundering of approximately $1.2 billion to $2.2 billion in Ethereum (ETH), derived from various thefts and hacks.Despite Pertsev's assertion that Tornado Cash was not designed to facilitate criminal activities, the court determined that the tool was actively used for money laundering. The court highlighted that Pertsev and his co-founders were accountable for the operation of Tornado Cash and its "lack of measures to prevent abuse," stating they developed it with full knowledge of its potential for illicit use.Tornado Cash dev ruled liable for all illicit use, despite no ability to prevent it ‼️We'll break down both the ruling itself and the craziness of the precedent set here by the case against Alex Pertsev, a developer and co-founder of the @TornadoCash project 🧵 pic.twitter.com/wRycZZGiBk— Freedom.Tech (@freedomtech) May 14, 2024A crypto mixer, also known as a cryptocurrency tumbler, is a service that mixes various transactions to obscure the origins and destinations of crypto assets. This process enhances privacy and anonymity for users by breaking the link between the sender and receiver of a transaction. The court pointed out that approximately $450 million in cryptocurrency, stolen by the North Korean hacking group Lazarus in the "Axie Infinity hack," was funneled through Tornado Cash and laundered, underscoring the tool's "significant value to the criminal underworld."In addition to the prison sentence, the court decided not to return Pertsev's seized Porsche and roughly €1.9 million in cryptocurrency. The first issues for Tornado Cash began in 2022 when the platform was blacklisted in the United States.Here's the list of Tornado Cash resources that were banned- Tornado Cash @GitHub organization- personal @GitHub accounts of TC contributors- all $USDC on Tornado Cash contracts @circlepay - @infura_io RPC- @AlchemyPlatform RPC- https://t.co/SHvgEjTOMV domain @eth_limo— 🌪️ Tornado.cash 🌪️ (@TornadoCash) August 9, 2022Separate Case in the USRoman Storm, another co-founder of Tornado Cash, was arrested in the United States last year, while the third co-founder, Roman Semenov, remains a fugitive and faces money laundering charges.Finance Magnates reported in August 2023 that Storm had been charged in the US with assisting criminals, including hackers linked to the North Korea-associated Lazarus Group, in laundering over $1 billion in illicit funds. The Federal Bureau of Investigation (FBI) arrested Storm in Washington.The US Department of Justice charged Semenov with conspiracy to commit money laundering, sanctions violations, and operating an unlicensed money-transmitting business. According to the agency, the executives received complaints and calls from victims of cybercrimes. Still, they deliberately avoided implementing controls to prevent criminals from using the platform to launder illicitly obtained cryptocurrencies.Separately, the Treasury’s Office of Foreign Assets Control (OFAC) issued a sanctions designation against Semenov, following a similar sanction placed on Tornado Cash last year. This article was written by Damian Chmiel at www.financemagnates.com.

UK Firm Offered “100 Certy” Crypto Investment Advice; Gets Wind-up Order

May 14, 2024 | 22:42 pm

A court in the United Kingdom has ordered the winding up of Amey Finance Academy, which offered cryptocurrency investment advice, after many of its customers lost their money. The company even had ties with a $1.7 billion crypto Ponzi scheme and told one of its customers that its advice was “100 certy” and “trust me bro.”A Shutdown Order by the CourtThe UK's Insolvency Service, which was investigating Amey Financial, obtained the shutdown order from the High Court in London. The Financial Conduct Authority (FCA) also stepped in to highlight that the company was “providing financial services or products” without its authorisation.According to the Insolvency Service, Amey was established in December 2018 by its 42-year-old sole director and shareholder, Desmond Amey, who described himself as a “wealth creation expert.”However, many consumers of the investment advisory company complained that they lost money in investment opportunities. One customer who lost all the invested money was assured by the company that the investment would not drop below 90 percent.“Desmond Amey used Amey Finance Academy to recklessly persuade individuals to invest in cryptocurrency schemes and mislead them about the risks of doing so,” said Mark George, Chief Investigator at the Insolvency Service.“His claims to offer a financial education and concierge service will be of no comfort to customers who lost their money in investments he actively encouraged.”Controversial TiesApart from the skewed investment advice, Amey Financial also promoted the schemes of HyperFund, which raised more than $1.7 billion from investors globally but turned out to be a Ponzi scheme. The authorities in the UK and New Zealand warned against HyperFund, and the United States Securities and Exchange Commission also charged the founder of HyperFund with fraud.The Insolvency Service further revealed that the owner of Amey Finance provided contradictory information about his company’s relationship with HyperFund and said that he used the business bank account of his company to help people buy cryptocurrencies via a separate company, Bleuguava. However, he failed to provide any up-to-date accounting records and thus, the authority could not establish the true relationship between the companies: Amey Finance and HyperFund or Bleuguava.“The failure to deliver adequate accounting records and a general lack of transparency shown has prevented the Insolvency Service from establishing the true extent of the company’s activities, its assets and liabilities, or the use of £5 million which passed through the company’s bank account between October 2019 and March 2022,” George added. This article was written by Arnab Shome at www.financemagnates.com.

Paxos Appoints Former CFTC Chairman J. Christopher Giancarlo to Board

May 14, 2024 | 06:14 am

Paxos, a regulated blockchain and tokenization infrastructure platform, announced today the appointment of J. Christopher Giancarlo, former Chairman of the US Commodity Futures Trading Commission (CFTC), to its board of directors.Paxos Scores Regulatory Heavyweight from CFTCGiancarlo, a respected figure in the financial services industry and a passionate advocate for blockchain technology, brings decades of expertise to Paxos as the company continues to innovate in the digital asset space. During his tenure at the CFTC from 2014 to 2019, Giancarlo oversaw the introduction of the first Bitcoin futures products and applied a "Do No Harm" regulatory approach to blockchain technology."Chris brings unparalleled expertise and understanding of complex market dynamics to Paxos," said Charles Cascarilla, CEO and Co-Founder of Paxos. "His insights will support us as we expand our position as a leader in regulated digital asset market structure and stablecoin innovation."Paxos, a registered trust company, issues regulated digital assets such as PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG). The company aims to leverage blockchain technology to create a more inclusive and accessible financial system"Paxos has established itself as the leader in bridging traditional and digital asset markets by introducing regulated solutions that are safe for institutions and consumers," said Giancarlo. "I'm honored to join Paxos's board and be a part of innovation in the financial sector."From Government to CryptoChris Giancarlo is no stranger to cryptocurrencies. With over 50,000 followers on Twitter, he is nicknamed "CryptoDad" and frequently shares his insights on digital assets and blockchain technology.“The free world & free people must work together to ensure that #digitalcurrency networks reflect virtues of #financialfreedom & #economicliberty.” My op-ed this morning in Banking, Risk & Regulation @FT @mrjohncrowley Go to this link: https://t.co/YsMSoMVhHp— Chris Giancarlo (@giancarloMKTS) May 13, 2024He is one of the latest government or agency representatives to join a crypto firm. Earlier this year, former UK Finance Minister George Osborne made a similar move by joining Coinbase's advisory council amid its global expansion.Peter Marton, formerly the Deputy Superintendent of Virtual Currency at the New York Department of Financial Services, has taken on the role of Director of Digital Identity at Fireblocks.Brian Brookes, who was the Senior Deputy Comptroller at the Comptroller of the Currency within the US Treasury Department, has joined the Board of Directors at Hashdex. His role involves advising on global regulation to attract institutional investors and strategically working with public policymakers.Additionally, Circle, the issuer of USDC, appointed Heath Tarbert as their Chief Legal Officer and Head of Corporate Affairs earlier this year. Tarbert, who previously served as Chairman and Chief Executive of the CFTC, was the Chief Legal Officer at Citadel Securities before joining Circle. This article was written by Damian Chmiel at www.financemagnates.com.

Crypto Exchange Spot Volumes Plunge 60% Post BTC Halving

May 14, 2024 | 04:48 am

After a record-breaking March driven by equally impressive Bitcoin (BTC) performance, spot volumes on the top 10 cryptocurrency exchanges dropped by more than 60% in April. According to a benchmark by Finance Magnates Intelligence, their trading volume fell from $2.1 trillion in March to just under $1.3 trillion in April.Cryptocurrency Exchange Volumes Plummet Post-Bitcoin HalvingIn March, volumes on the largest cryptocurrency platforms reached their highest levels in nearly four years, increasing by an average of 120%. This surge coincided with a new all-time high (ATH) for Bitcoin, recorded on March 14, when the price tested nearly $74,000, sparking significant investor activity. In April, anticipation centered on Bitcoin's halving, which reduced the reward for mining new BTC blocks, historically leading to strong price increases. However, post-halving, the price has dropped, losing over 16% from its ATH. Consequently, volumes on major exchanges also declined, with monthly drops averaging 64%. KuCoin saw the most significant decline, with a 150% decrease to $30 billion, and Upbit experienced a 135% drop to $94 billion.“This decline followed unexpected macroeconomic data, an escalation in the geopolitical crisis in the Middle East, and negative net flows from U.S. spot Bitcoin ETFs, leading to major crypto assets retracing the gains they made in March,” commented CCData in its newest crypto exchange volumes report.Binance remains the market leader, accounting for 54% of total trading volume with $699 billion in April 2024. ByBit secured the second spot with 11%, followed by OKX with 9%. This reshuffling saw Upbit fall from second to fifth place, ByBit rise to second, and OKX take third.“The spot trading volume on Binance fell, recording the first decline in spot volumes,” on the exchange since September 2023,” CCData added.Annual Spot Volumes Still RisingComparing April 2024 to April 2023, the results are not as bleak. Average year-over-year (YoY) volumes grew by 155%, demonstrating a robust growth trend compared to the previous year.ByBit led the charge with a 610% increase, rising from just under $20 billion to $138 billion over the year. Huobi saw nearly a fourfold increase in spot volumes from $15 billion, and OKX's volumes doubled.“Bitcoin failed to build on the momentum of the week prior, with the price not able to make a ‘higher-high’ above the $66,800 level,” commented Simpon Peters, Market Analyst at eToro. “Instead we’ve seen a retreat back towards the $60,000 mark, which has been tested on numerous occasions since March.” This article was written by Damian Chmiel at www.financemagnates.com.

Coinbase Comes Back Online after 3 Hours of Outage; Users Face Withdrawal Issues

May 14, 2024 | 03:07 am

The services of cryptocurrency exchange Coinbase have been restored after a “system-wide outage” of over three hours. The exchange confirmed that its functionalities are “now fully recovered.”Coinbase is now fully recovered. We appreciate your patience and apologize for the inconvenience. https://t.co/AAzEMPaJGL— Coinbase Support (@CoinbaseSupport) May 14, 2024Withdrawal Issues PersistHowever, many Coinbase users on social media are complaining of difficulties in fund withdrawals and transfers. Some even pointed out that crypto transfers and cash withdrawals remain offline.We are sorry for the inconvenience, rocket. Our team is actively working towards a resolution. While we can't provide a specific timeline for the fix, we suggest that you keep checking your account for updates. 1/2^KZ https://t.co/lVqd7e12Qg— Coinbase Support (@CoinbaseSupport) May 14, 2024Although Coinbase did not specifically address the issues with the fund transfers and withdrawals, it labelled the ongoing situation as “degraded transactions” on its status page.A 3 Hour Long OutageAs Finance Magnates reported earlier, the cryptocurrency exchange services were affected at 21:19 hours Pacific Daylight Time (PDT) on 13 May, with a complete outage. The latest update on the recovery of services came at 00:27 hours PDT on 14 May, making it an outage of more than three hours.However, the exchange is yet to reveal the reason behind the abrupt “system-wide outage” that impacted its users on web and mobile devices. The crypto self-custody wallet service of the exchange was also affected.“Coinbase is now fully recovered,” the service status page of the crypto exchange noted, labelling the outage as “resolved,” adding that “we appreciate your patience and apologise for the inconvenience.”System-wide outages are rare but occur often. One of the reasons behind such outages is an overload on the servers of the crypto exchanges during an extremely volatile market. Coinbase itself suffered multiple outages in the past; some occurred during bull runs, while one resulted following its Super Bowl advertisement.However, the latest outage did not occur due to volatility or a marketing campaign.According to the updates provided by the exchange, the issue was identified at 23:40 hours PDT when it was “seeing some services recover.” However, it pointed out that “customers may still be encountering connectivity problems.” This article was written by Arnab Shome at www.financemagnates.com.

Cross-Border Banking: Wirex Teams Up with OpenPayd for Virtual IBAN

May 14, 2024 | 01:22 am

To enhance financial services for customers across the UK and European Economic Area (EEA), OpenPayd, an embedded finance and Banking-as-a-Service (BaaS) platform, has announced a strategic partnership with Wirex, a Web3 money app. This collaboration aims to fortify easy, fast, and secure payment solutions.Forging Alliance for Virtual IBAN PaymentsUnder the newly forged partnership, OpenPayd will facilitate the issuance of named virtual IBANs to Wirex customers in over 30 countries spanning the UK and EEA regions. These virtual IBANs will grant customers access to the Faster Payments network in the UK and enable Single Euro Payments Area (SEPA) Instant transactions for Euro-denominated deposits and withdrawals.The integration of OpenPayd's services into Wirex's infrastructure will be seamless, leveraging OpenPayd's single, developer-friendly API. Wirex customers will be allocated unique, named IBANs, empowering them to effortlessly transfer EUR and GBP funds between their Wirex and traditional bank accounts. Transactions conducted via OpenPayd's SEPA Instant and Faster Payments networks will occur in real-time, ensuring round-the-clock availability and significantly enhancing the overall customer experience.“At Wirex, we strive to bridge the gap between the traditional and digital economies, so it's vital that our customers can easily make and receive payments via SEPA Instant and Faster Payments. OpenPayd’s tech stack is not only state of the art and easy to integrate, it’s also proven at scale - processing millions of transactions monthly,” said Pavel Matveev, CEO and Co-Founder of Wirex. Wirex chooses OpenPayd to launch embedded accounts across UK and EEA https://t.co/BzaRFZqEuJ— Stock Market News (@Stock_Market_Pr) May 14, 2024Enhanced Payment OptionsBy leveraging OpenPayd's expertise in embedded finance and BaaS solutions, Wirex aims to further streamline its payment ecosystem and reinforce its position as a frontrunner in the Web3 financial landscape.The introduction of virtual IBANs represents a pivotal advancement in Wirex's quest to provide its customers with versatile, user-centric payment options. With the support of OpenPayd's robust infrastructure and extensive network reach, Wirex users can expect enhanced accessibility, efficiency, and security in their financial transactions across borders and currencies.“High-growth digital assets businesses need reliable, scalable banking and payments partners to deliver a seamless user experience without incurring delays or prohibitive fees,” said Iana Dimitrova, CEO of OpenPayd. “Wirex is a trusted, established and growing player in the digital assets market. Our reliable platform, with 99.99% uptime, will support Wirex in its mission to make cryptocurrency more secure, accessible and available to everyone.” This article was written by Tareq Sikder at www.financemagnates.com.

Breaking: Coinbase Suffers “System-Wide Outage”

May 13, 2024 | 22:55 pm

Coinbase, the largest cryptocurrency exchange in the US, is “experiencing a system-wide outage” that has directly impacted its services. Both desktop and mobile platforms of the crypto exchange are not working.Coinbase Is DownThe reason behind the outage remains unclear as the exchange ensured that it is “investigating this issue.” According to the status page of Coinbase, the outage started at 21:19 Pacific Daylight Time (PDT) on 13 May. In the latest update at 23:09 PDT, the exchange noted that "we are continuing to investigate this issue."Addressing its users, the exchange further noted: “Your funds are safe.”Coinbase is experiencing a system wide outage. We are investigating this issue and working on a solution. Please see https://t.co/a3pl4WiDhZ for updates. Your funds are safe.— Coinbase Support (@CoinbaseSupport) May 14, 2024A Platform-Wide OutageAn attempt to visit the Coinbase website shows the message “503 service temporarily unavailable.” According to Mozilla, the server throws a 503 error when it is not ready to handle requests due to overload or maintenance.Interestingly, the mobile app of the crypto exchange is showing that “planned maintenance [is] in progress,” which is wrong.Ahhhh, the app is saying this is "planned maintenance." pic.twitter.com/U6bd0NtH2c— Metaman (@FacebookZucks) May 14, 2024The outage even affected the self-custody platform of the exchange, Coinbase Wallet, which is showing the message “something went wrong” and suggesting some unnecessary instructions like forcefully quitting the app and making sure it's updated.The system-wide outage came when the dollar value of Bitcoin was hovering around $62,000. According to Coinmarketcap, Coinbase handled about $2.4 billion in cryptocurrency trading volume in the last 24 hours, which will definitely take a hit with the ongoing outage.Coinbase base is one of the reputed cryptocurrency exchanges and is also publicly listed in the United States. The exchange is benefiting extensively from the ongoing bull run in crypto and has generated $1.2 billion in net income on revenue of $1.6 billion in the first quarter of 2024.The recent outage is not the first for Coinbase. On Feb 28, 2024, Coinbase and several other crypto exchanges suffered a temporary outage triggered by the surge in trading activities. However, system-wide outages are still rare as such incidents diminish user trust in a platform, especially those offering trading services. This article was written by Arnab Shome at www.financemagnates.com.

Crypto Prime Broker Illegally Operated in the US: Settles for $1.8 Million

May 13, 2024 | 22:42 pm

In its latest action against non-compliance in the crypto industry, the Commodity Futures Trading Commission (CFTC) has settled with FalconX, a crypto prime brokerage firm that failed to register as a futures commission merchant (FCM), for $1.8 million. The platform further received a cease-and-desist order from offering services to US residents.CFTC Busts FalconXAnnounced yesterday (Monday), FalconX is being operated by a Seychelles-registered firm, Falcon Labs. The regulator also highlighted that actions against the entity were the first against an unregistered FCM that "inappropriately facilitated access to digital asset exchanges.”Out of the total settlement amount, $1.18 million will be recovered as disgorgement, which the platform collected as fees, while it must pay the remaining $589,504 as a civil penalty.From around October 2021 until at least the end of March 2023, FalconX functioned as an intermediary and facilitated crypto trading with direct access to multiple exchanges. The customers on the platform, including US institutional customers, first created a main account in their own name and then associated sub-accounts on crypto exchanges.According to the CFTC, neither the crypto exchanges required customer-identifying information for the sub-account holders, nor did FalconX provide it.“The CFTC’s enforcement program has made clear it will not tolerate digital asset exchanges that fail to register with the CFTC or comply with the agency’s rules that maintain integrity in the derivatives markets,” Ian McGinley, the Director of Enforcement at CFTC, said, adding that the agency is now “taking the fight one step further by, for the first time, charging an intermediary that inappropriately facilitated access to those exchanges.”Cooperation Pays OffThe regulator further pointed out that FalconX cooperated in the investigation, resulting in a reduced monetary penalty. Similar results of cooperation with the authorities were seen in the sentencing of Binance’s Changpeng Zhao, who cooperated in the investigation and received only four months in prison.“Today’s action highlights that the CFTC will not hesitate to charge any entities—exchanges or intermediaries—who are providing customers access to digital asset products and services that require registration but have failed to appropriately register,” McGinley added. This article was written by Arnab Shome at www.financemagnates.com.

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The April Next Bitcoin Halving 2024: What’s Different and What to Expect for the Crypto Market

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