Former FTX co-CEO Ryan Salame was sentenced yesterday to 90 months in prison, according to Damian Lewis, the United States Attorney for the Southern District of New York. Salame previously pled guilty to conspiring to make illegal political contributions and defraud the Federal Election Commission and to conspiracy to run an unlicensed money-transmitting business before...Read More
Nearly a year after launching on Ethereum, PayPal’s stablecoin PYUSD is being introduced on the Solana blockchain. This move will enable users to choose between multiple blockchain networks, providing greater flexibility and control over their transactions and holdings. PayPal Brings PYUSD to Solana According to the official announcement, PayPal highlighted Solana’s ability to handle a...Read More
Real-world asset (RWA) tokenization protocol, Blocksquare announced that it has tokenized $100 million worth of real estate properties on its platform. According to a press release sent to CryptoPotato, the tokenization of $100 million in real estate assets coincides with the launch of Blocksquare’s decentralized finance launchpad, Oceanpoint v0.5, geared towards empowering real estate tokenization...Read More
On May 28th, BlackRock finally surpassed Grayscale to become the largest spot Bitcoin ETF with 288,671 BTC in its holdings. It took BlackRock’s IBIT just 96 trading days to close the substantial gap with Grayscale’s GBTC. IBIT has now reached an impressive asset under management (AUM) of nearly $19.79 billion. Meanwhile, GBTC saw its AUM...Read More
For the third consecutive week, digital asset investment products attracted impressive inflows, as this time, they totaled $1.05 billion. The latest figures contributed to a record-breaking year-to-date cumulative flow of $14.9 billion. According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, the recent surge in prices has driven total digital asset...Read More
Crypto whales and sharks have been known to sway the market in one direction, triggering losses or gains by simply moving their assets. Watching the activities of these market stakeholders can help traders prepare for the next potential move in the price of an asset. Analysts at crypto data platform Santiment have revealed the accumulation...Read More
In a shift within the cryptocurrency exchange landscape, HTX has surpassed Coinbase in spot trading volumes for the first time. This milestone was announced by Justin Sun, the founder of the TRON blockchain and a global advisor for HTX, via a post on the social media platform X on May 27. Sun Declares it’s ‘Just...Read More
Bitcoin development company MicroStrategy has found another copycat willing to mimic its investment strategy of going all-in on BTC. Semler Scientific (SMLR), a little-known medical company trading on the NASDAQ, announced on Tuesday that it had adopted Bitcoin as its “primary treasury reserve asset” that will henceforth be bought using the company’s excess cash. Semler...Read More
Last week was memorable for the crypto community. Over four months after it approved similar products for Bitcoin, the United States Securities and Exchange Commission (SEC) gave a green signal to the first wave of spot Ethereum exchange-traded funds (ETFs). According to the latest Bitfinex Alpha report, the crypto market’s reaction to the event was...Read More
Ethereum has been hovering near the $4,000 mark, driven by a major turnaround in the US Securities and Exchange Commission’s (SEC) decision to approve spot ETH ETFs. This development has fueled trader optimism about the leading altcoin’s price trajectory. However, increased inflows of ETH into cryptocurrency exchanges could spell trouble. ETH Inflows Signal Selling Trend...Read More
Bitcoin and Ethereum have managed to pull crowds with stunning rallies this year. With the approval of their respective spot ETFs, the world’s largest cryptocurrencies are expected to attract billions. As such, popular analyst Lark Davis has made bold predictions for the top assets. Bold Predictions For Bitcoin and Ethereum In a recent tweet, Davis...Read More
Robert Kiyosaki, author of “Rich Dad Poor Dad,” has debunked the commonly held belief that bonds are generally safe investments. In a recent tweet, Kiyosaki labeled the notion that “bonds are safe” as the “biggest lie” propagated by financial planners to “gullible” investors. He even went on to warn that even highly rated AAA bonds...Read More
Bitcoin briefly surpassed the psychological barrier of $70,000 before sustaining a correction and falling close to $68,000. While a breakout does not appear to transpire in the near term, the data suggest that the bull market is still not over. In fact, bitcoin is potentially primed for more gains, according to the latest analysis by...Read More
As of May 24, all Bitcoin exchange-traded funds (ETFs) collectively hold 1,002,343 BTC, with a significant portion allocated to U.S. products among the 32 available ETFs. MicroStrategy’s executive chairman, Michael Saylor, emphasized this notable achievement in a recent post, noting that these 32 spot Bitcoin ETFs together now possess an amount equivalent to the holdings...Read More
Grayscale’s upcoming spot Ether exchange-traded fund (ETF) could potentially see an average outflow of $110 million per day if it follows the trend set by the company’s Bitcoin Trust in its first month, according to a report by Kaiko. This projection follows the approval of spot Ether ETFs by the U.S. Securities and Exchange Commission...Read More
On May 28, on-chain analysts observed that Mt. Gox distributions appeared to be underway. Around 42,900 BTC worth around $2.9 billion was being moved at the time though there could be as much as $6 billion worth. Analyst James Check said that the Mt. Gox event is going to be “a fantastic case study for...Read More
Friend.tech co-founder, pseudonymously known as Racer, has hinted at leaving Base, an Ethereum Layer-2 network launched by Coinbase in 2023 that supports the platform. Following the news, Friend.tech’s token fell sharply and is now trading at $1.02, with a 31.4% drop over the past day. Racer Hints at Departure From Base Racer posted on X...Read More
The value of the Normie (NORMIE) token sunk by 99% within three hours after it was victim to a smart contract exploit, which temporarily dropped its market cap from $42 million to $200,000. Following the exploit, the developers of the Base meme coin are in discussions with the individual responsible for the incident to reclaim...Read More
Over a year since the Dencun upgrade went live on Ethereum, attention has shifted to Pectra, which is scheduled for release by early 2025. After evaluating various timeline options, Ethereum developers said they have decided against rushing a release before Devcon in November 2024. Instead, they’re choosing a more careful approach to incorporate additional user...Read More
Argentinian authorities are looking to work with officials in the Bitcoin-friendly El Salvador to enhance their adoption of the leading digital asset. According to an official report from the Argentinian National Securities Commission (CNV), the agency’s president and vice president, Roberto Silva and Patricia Boedo, held a meeting with Juan Reyes, the president of El...Read More
Donald Trump’s new weapon against Biden’s administration is cryptocurrency. The former US president has made a striking reversal in his stance on the industry, a topic now emerging as a significant issue in the upcoming presidential election. Trump Rejects CBDC Addressing a crowd at the Libertarian National Convention in Washington, D.C. over the weekend, Trump...Read More
Caitlyn Jenner, an American media personality and a former Olympic gold medal winner, has a new meme coin she’s promoting via her X account. Dubbed $JENNER, the token was launched on the Solana-based decentralized exchange (DEX), Pump.fun. Despite the suspicion from several crypto community members on X, the meme coin has soaked up a market...Read More
Crypto markets have remained relatively inactive over the weekend, maintaining gains made last week in the wake of spot Ethereum exchange-traded fund approvals in the United States. This week will see the release of more economic data such as consumer confidence and gross domestic product indicators. Economic Calendar May 27-31 Monday is Memorial Day in...Read More
Toncoin (TON), the native token of The Open Network blockchain, has emerged as one of the most popular Layer 1 cryptocurrencies. Since the beginning of 2024, its price has outperformed Bitcoin by a staggering 118%, as per the latest analysis by CryptoQuant. The on-chain analytic company has now stated that while US traders appear to...Read More
The controversial Worldcoin project has faced yet another setback. Hong Kong’s privacy regulator, the Office of the Privacy Commissioner for Personal Data (PCPD), ordered the Worldcoin Foundation to halt all its operations in the region, citing that its practices violate local privacy regulations. The PCPD released a statement this week revealing that Worldcoin had collected...Read More
Prominent US-based cryptocurrency exchange Coinbase announced the launch of a new initiative called ‘Tech Against Scams’ along with industry leaders Meta, Ripple, Gemini, Kraken, Match Group, and GASO. This coalition aims to tackle online fraud and financial schemes while simultaneously protecting and educating users, highlighting that scams are a tech-wide issue, not restricted to social...Read More
Over the week, ether (ETH) received a large share of crypto investors’ attention as anticipation intensified about approvals for its spot exchange-traded funds (ETFs). While the crypto asset rallied significantly as the market waited for the U.S. Securities and Exchange Commission’s (SEC) decision on the ETFs, CryptoQuant analysts identified on-chain dynamics that could trigger major...Read More
Fourteen years ago, 10,000 bitcoins (BTC) could get you only two pizza boxes; however, the story is entirely different today. In commemoration of the Bitcoin Pizza Day celebrated on May 22, cryptocurrency exchange Kraken shared a video outlining what 10,000 BTC would get you today, ranging from hundreds of private flights on a spaceship to...Read More
There has been a growing concern regarding the increased traction of tokens with high valuations but low initial circulating supply, which has sparked discussions about the sustainability of upside potential for traders following the token generation event (TGE). Binance Research’s latest findings have confirmed this trend, depicting an increasing number of tokens being launched with...Read More
A Taiwanese national has been charged with running Incognito Market, a darknet drug bazaar, and arrested after authorities tracked the platform’s transactions. The platform has transacted more than $100 million in crypto through selling illegal narcotics such as fentanyl. Incognito Market Founder Arrested and Charged On May 18, U.S. authorities arrested Rui-Siang Lin, 23, operating...Read More
