Flows into the U.S. spot Bitcoin exchange-traded fund (ETF) market have reversed following a period of outflows and minimal inflows. According to the Bitfinex Alpha report, the new trend of heavy net inflows into spot Bitcoin ETFs signals renewed interest in the products and investors’ belief in the digital asset’s potential. Bitcoin ETF Flows Reverse...Read More
“It’s happening,” exclaimed Bloomberg ETF analyst James Seyffart on May 22 who added that at least five of the potential ETH ETF issuers have submitted their amended 19b-4s to the Securities and Exchange Commission a few hours ago. Fidelity, VanEck, Invesco Galaxy, Ark 21Shares, and Franklin all submitted amendments via the Chicago Board Options Exchange...Read More
On Monday, New York Attorney General Letitia James announced that her office has secured a $2 billion settlement with the bankrupt cryptocurrency firm Genesis Global. This agreement comes in response to allegations that Genesis defrauded investors, including tens of thousands of New Yorkers. $2 Billion Settlement In a post on social media platform X, AG...Read More
Alex Thorn, the Head of Research at Galaxy Research, speculated that the SEC could differentiate between Ethereum (ETH) and staked Ether, possibly classifying the latter as a security. He noted that this distinction could provide a regulatory loophole for approving spot Ethereum ETFs. Spot Ethereum ETF Approval Loophole In a May 21 post on X,...Read More
Bitwise executives have secret information about massive financial players who are investing in BTC – but they won’t specify which ones. During an interview published on Tuesday, Bitwise CEO Hunter Horsley discussed how institutional and regulatory acceptance of Bitcoin as an investable asset is evolving faster behind the scenes than most realize. The Secret Bitcoin...Read More
The weakening Japanese yen could potentially lead to actions that drive up the price of bitcoin and other cryptocurrencies, according to former BitMEX CEO Arthur Hayes. His central argument revolves around the fact the Japanese yen has been rapidly weakening against the US dollar due to the large interest rate differential between the two currencies....Read More
The popular gold bug continues with his barrage against bitcoin, but his latest warning came amid times of price resurgence as the cryptocurrency skyrocketed above $70,000. Schiff actually thinks that a lot of bad news will hit BTC if the US Securities and Exchange Commission indeed greenlights spot Ethereum ETFs. Schiff Goes After Bitcoin Again...Read More
Ethereum’s (ETH) dramatic rally to the $3,700 price zone has put a substantial portion of the cryptocurrency’s holders in profit, boosting their investment returns significantly. According to a tweet by IntoTheBlock, 90% of market participants holding ETH are currently in profit, while the remaining 10% are at the money. No ETH holder is at a...Read More
Web3 gaming project Gala Game was exploited by an unknown attacker, who was described as a compromised or rogue admin address, minted 5 Billion GALA, worth more than $200 million. The security incident has since been contained while the affected wallet has been frozen. The team also said that the exploit was an isolated incident...Read More
Polimec, a decentralized and community-driven funding protocol designed to transform how Web3 projects raise capital and issue tokens, has officially launched on Polkadot. Polimec offers a transparent, regulatory-compliant environment that connects investors and startups on a global scale. Community-Driven Web3 Fundraising According to a statement shared with CryptoPotato, Polimec represents a significant advancement in Web3...Read More
ETH prices topped $3,700 in an intraday high in early trading in Asia on Tuesday, May 21. It is the highest the asset has been since early April when it spiked to similar levels before dumping below $3,000 a week later. The massive 20% move has been triggered by renewed hopes that the US Securities...Read More
Digital asset investment products surged for the second consecutive week, reaching a total of $932 million. Despite an increase in inflows, the trading volume for the week was only $10.5 billion, significantly lower than the $40 billion recorded in March. Notably, the influx of funds was largely prompted by the unexpected CPI report released on...Read More
U.S. Bankruptcy Judge Sean Lane approved Genesis Global’s Chapter 11 liquidation plan on Friday, enabling the bankrupt cryptocurrency lender to return approximately $3 billion in cash and crypto to its creditors. This ruling means that its parent company, Digital Currency Group (DCG), will not recover anything from the bankruptcy proceedings. DCG Left with No Recovery...Read More
As the reaccumulation phase of this cycle stretches on, Litecoin whales have tapped into the spree, refusing to be left out. Data from crypto market intelligence platform IntoTheBlock revealed that LTC’s largest investors accumulated more than 2.75 million litecoins in the past 30 days, indicating significant activity. LItecoin Whales Accumulate 2.7M LTC The tweet by...Read More
Ether (ETH) surged 10% on Monday in the span of a few minutes following credible rumors that the asset could receive its own spot ETF in the United States within days. ETH traded for $3150 on Monday at 17:44 UTC, before surging to $3450 within 25 minutes. This followed a tweet from Bloomberg ETF analyst...Read More
A UK judge has officially ruled that Craig Wright is guilty of forgery “on a grand scale” following the computer scientist’s decisive court loss in March. In a written judgment published on Monday, High Court Justice James Mellor said Wright lied “extensively and repeatedly” in court to support his “biggest lie” – his claim to...Read More
American broadcaster and Bitcoin proponent Max Keiser believes the stablecoin issuer Tether and El Salvador, as well as the declining United States dollar (USD), will push BTC’s price to $220,000 in no distant time. In a Saturday tweet, Keiser said the USD is doomed because inflation will “sky harder,” while this happens, BTC will be...Read More
Michael Sonnhenshein – CEO of the world’s largest Bitcoin ETF, Grayscale – has stepped down from his position, according to a company press release on Monday. The report said that Sonnhenshein will be replaced by Peter Mintzberg, who currently serves as the global head of strategy of Goldman Sachs’ Wealth Management Division. Mintzberg will assume...Read More
The weekly recovery of over 7% has pushed bitcoin’s price briefly above $67,500 – a level not seen in almost a month. The world’s leading crypto asset is currently eying to establish a new peak. With the latest upward price action, BTC has found new support. If flipped, however, this level could also prove to...Read More
Bitcoin (BTC) network activity has significantly declined in the creation of new addresses, hitting its lowest point since July 2018. Despite this, though, BTC is trading around $67,000 after gaining over 7% in the past week. Bitcoin Network Activity Declines Data from the market intelligence platform IntoTheBlock reveals a 7-day average of only 276,000 new...Read More
The final deadline for the first spot Ethereum ETF is Wednesday, May 23. This is when the SEC will approve or deny VanEck’s application. The Ark 21Shares spot ETH ETF application deadline is on the following day, Thursday, May 24, but what happens Wednesday will set the tone for the rest of the issuers. Other...Read More
The highlights of the economic week ahead are the Federal Reserve meeting minutes and a big earnings report from semiconductor giant Nvidia. There are also reports on global manufacturing and services indexes and consumer inflation expectations which could influence markets a little. Economic Calendar May 20-24 Last week saw the U.S. Dow Jones Industrial Average...Read More
A confidential United Nations report obtained by Reuters reveals that North Korea’s notorious cybercriminal group known as the Lazarus Group transferred millions of stash of stolen cryptocurrency back to the Asian country last year. In March 2023, these North Korean hackers illicitly took $147.5 million worth of cryptocurrency from HTX, a crypto exchange owned by...Read More
Ontario’s self-styled ‘Crypto King,’ Aiden Pleterski, was arrested and accused of fraud and money laundering related to an alleged Ponzi scheme following one of the most extensive fraud investigations the region has witnessed. The 25-year-old, along with his associate, 27-year-old Colin Murphy, allegedly stole approximately $30 million from unsuspecting victims. Crypto King’s Arrest The charges...Read More
Two siblings who attended the Massachusetts Institute of Technology (MIT) are now facing allegations of exploiting a vulnerability in the Ethereum blockchain. The duo reportedly swindled $25 million within 12 seconds, which the prosecutors labeled as a first-of-its-kind caper. If convicted, both of them could potentially serve sentences exceeding 20 years in prison. Anton Peraire-Bueno,...Read More
The price of bitcoin (BTC) has surged past the $60,000 level to the $67,000 zone due to news of a lower-than-expected inflation rate in the United States. According to the latest CryptoQuant weekly report, bitcoin’s latest rally has also been sustained by a recent decline in selling pressure. However, demand for the cryptocurrency has yet...Read More
Bitcoin keeps touching new levels of adoption in the real world, with traditional finance (TradFi) firms embracing the digital asset at a remarkable pace. The significant investment in spot Bitcoin exchange-traded funds (ETFs) signifies growing institutional interest in crypto assets. Last quarter, a staggering number of U.S. banks, investment managers, hedge funds, and professional firms...Read More
By examining the processing speed of the largest blockchain networks in terms of total value locked on DeFiLlama, CoinGecko outlined the fastest based on the actual and realized transactions-per-speed (TPS) metric. The report concluded that Solana leads the way, followed by Sui and the Binance Smart Chain. Interestingly, Ethereum and Bitcoin are not even in...Read More
Spot Bitcoin ETFs have become a key part of the entire cryptocurrency ecosystem in just four months after they went live on US financial markets. However, Bloomberg’s ETF specialist – Eric Balchunas – explained that people should not get too carried away when they see notable changes in the short-term flows. May Covers April Losses...Read More
Hong Kong police have taken into custody three employees of a currency exchange shop who are suspected of engaging in fraudulent activities. This followed an incident where a customer at the shop reportedly encountered stacks of “hell money” before executing a cryptocurrency transfer worth approximately HK$1 million. Hong Kong Authorities Arrest 3 for Crypto Fraud...Read More
