Solana Meme Coin SEAL Hits $2.5M in Presale Ahead of Exchange Listings
Meme coins are thriving on Solana – with the up-and-coming Sealana (SEAL) token being one of the most talked-about new projects. This seal-themed crypto has already secured over $2.5 million in funding ahead of its highly-anticipated exchange debut in the coming weeks. Sealana’s Presale Passes $2.5M Mark as Retail Traders Buy In Few meme projects […]Coinbase Seeks Immediate Appellate Review in SEC Lawsuit, Citing Recent Legislation
As Coinbase seeks an interlocutory appeal in its legal dispute with the U.S. Securities and Exchange Commission (SEC), recent legislative developments have highlighted a growing discord between U.S. Congress and the SEC over digital asset regulation. This past week, legislators passed comprehensive digital asset legislation aimed at curbing the SEC’s expansive jurisdiction claims. As Coinbase […]Spot Ethereum ETF Approval Could Send ETH to a New Record High, Says Bitwise CIO Matt Hougan
The chief investment officer of crypto fund manager Bitwise is predicting new all-time highs for Ethereum (ETH) if spot ETH exchange-traded funds (ETFs) are ultimately approved. Earlier this week, the U.S. Securities and Exchange Commission (SEC) approved a rule change that sets the stage for the potential green lighting of spot market Ethereum ETFs. In […]
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Join Bitcoin BuildCon Online Conference: Don’t Miss Out on Shaping the Future of Bitcoin
PRESS RELEASE. Date: 27th May 2024 Time: 17:00 UTC Location: Online Bitcoin BuildCon’s main objective is to help builders onboard in the current landscape of BTC development, providing them with insights from key players in the industry. How to get into the new wave of Bitcoin projects, where to deploy, and how to get funded […]Okx Ceases Crypto Trading Services in Hong Kong — Users Advised to Withdraw Assets
Cryptocurrency exchange Okx has decided to withdraw its virtual asset service provider (VASP) license application in Hong Kong. As a result, Okx will stop offering centralized virtual asset trading services to Hong Kong residents by May 31, 2024. The exchange stressed that customer funds remain secure, and withdrawal services will continue unaffected. Okx’s web3 (self-hosted […]Ethereum Dominates NFT Sales Despite Overall Market Drop
Over the past week, non-fungible token (NFT) sales declined by 8.99%, amounting to approximately $137 million. Ethereum topped the charts with $43 million in sales, marking a 20.26% increase from the previous week. NFT Market Shrinks by 8.99%, Ethereum and Bitcoin Lead in Sales NFT sales experienced a decline this week, falling by 8.99% compared […]Bitcoin Is Currently out of the ‘Danger Zone,’ According to Crypto Analyst – But There’s a Catch
A closely followed crypto analyst says that Bitcoin (BTC) is no longer in the “danger zone,” when there is a likelihood of a dip below its range low. Pseudonymous trader Rekt Capital tells his 472,200 followers on the social media platform X that while the “danger zone” has passed, Bitcoin could still dip about 13% […]
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UK Sentences Woman to Prison for Laundering Bitcoin After Police Seize 61K BTC
A woman has been sentenced to nearly seven years in prison for laundering bitcoin tied to a £5 billion fraud in China. Authorities seized over 61,000 bitcoin during their investigation, now worth over $4 billion. The woman denied all charges, claiming she was manipulated by a “mastermind.” 61K Bitcoin Seizure Leads to Jail Sentence A […]Crypto Advocacy Group ‘Stand With Crypto’ Expands to the UK
Stand with Crypto, a global crypto advocacy organization, is expanding its initiative to the United Kingdom. Originating in the U.S., where it has garnered over 700,000 sign-ups and gained momentum with the passing of FIT21 in the House of Representatives, the movement is now mobilizing UK crypto advocates. With over 6 million crypto holders, the […]This Ethereum Rival Could Skyrocket by Nearly 2x Over the Short to Medium-Term, Says Coin Bureau’s Guy Turner
The host of the Coin Bureau YouTube channel, Guy Turner, is expressing bullish sentiment on one Ethereum (ETH) competitor. Turner tells the 2.47 million subscribers of the Coin Bureau channel that the layer-1 blockchain Fantom (FTM) possesses more upside potential based on technical analysis. “The weekly chart appears to be painting a wonky head and […]
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Don’t jump to conclusions about ETH ‘pullbacks’ — Traders
Bitcoin’s price dropped 15% after spot Bitcoin ETFs started trading, but traders aren’t so sure that Ether’s price will react the same way.
Traders are skeptical about assuming that the price of Ether (ETH) will decline after the launch of spot Ether exchange-traded funds (ETFs), similar to what happened with Bitcoin (BTC), after spot Bitcoin ETFs started trading.
“I think there is less likelihood of a selloff here after the ETH ETF compared to the BTC ETF,” crypto trader Matthew Hyland explained in a May 24 post on X.
Hyland pointed out that, unlike Ether, Bitcoin had not experienced a price decline in the period leading up to the approval of spot Bitcoin ETFs on Jan. 10.
US ETH ETF approval pressures Korean regulators
Unlike their U.S. counterparts, Korea’s FSC and FSS have been cautious about allowing crypto trading on traditional securities markets.
Korean regulators are under mounting pressure to approve cryptocurrency exchange-traded funds (ETFs) following the recent approval of spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC).
According to local media, the SEC’s decision regarding Ethereum is expected to exert pressure on Seoul’s financial regulators to reconsider their stance on digital assets.
The SEC greenlighted the creation of ETFs for Ethereum, the world’s second-largest cryptocurrency, on May 24, 2024, following its earlier approval of Bitcoin ETFs in January 2024.
Crydit Unveils Revolutionary Unlimited Crypto Card Redefining Crypto Payments
PRESS RELEASE. [May 25, 2024] – Crydit, with the vision of “Pay Everything,” announces the official launch of the first Unlimited Crypto Card in the industry. Crydit is poised to revolutionize the crypto payment industry, providing users of cryptocurrencies with a free, secure, and convenient payment experience. Key Features of the Crydit Unlimited Crypto Card […]
Study: 60% of US Crypto Investors Don’t Understand Blockchain
‘I Feel Super Confident About That’: Jack Mallers Says Bitcoin To Explode by up to 1,357% – Here’s the Timeline
The CEO of Bitcoin (BTC) wallet and payments application Strike, Jack Mallers, is predicting that the flagship crypto asset could hit a seven-figure price. Mallers says in a new interview with Anthony Pompliano that Bitcoin could soar between 260% and 1,357% in the coming months. “I think we’re still so early in the Bitcoin story. […]
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Decoding FDV: The Importance of Fully Diluted Valuation in Crypto Investments
In a market where substantial portions of tokens are often locked up, understanding Fully Diluted Valuation (FDV) has become essential for investors looking to better evaluate the current value of cryptocurrency projects, as well as better predict the long-term value and risks associated with them. Introduction to FDV Fully Diluted Valuation (FDV) is an important […]Ethereum lacks a ‘simple one-liner’ elevator pitch for boomers — Analysts
While Bitcoin is often marketed as “digital gold,” Ethereum hasn’t quite found its simple elevator pitch yet, according to crypto analysts.
Ethereum (ETH) is lacking an “easy-to-understand” sound bite that will attract the baby boomer generation towards spot Ether exchange-traded funds (ETF), according to analysts.
“Ethereum still has no elevator pitch, despite years of attempts,” Glassnode lead analyst James Check aka “CheckMatey” wrote in a May 24 post on X, following the United States Securities and Exchange Commission’s (SEC) approval of eight spot Ether ETFs on May 23.
“Does a simple one-liner like that exist for Ether? If so, what is it?” added Bloomberg ETF analyst Eric Balchunas, while suggesting that a potential obstacle for the success of spot Ether ETFs will lie in how it resonates with those investors in the 60-80 year old age range.
What Is the Howey Test? Understanding Its Role in Crypto Regulation
This year, with the U.S. Securities and Exchange Commission (SEC) increasing enforcement on businesses accused of offering unregistered crypto securities to American investors, regulators, attorneys, and judges have been utilizing the Howey Test to ascertain whether specific crypto assets constitute an “investment contract” and thereby fall under U.S. securities laws. Below is an in-depth exploration […]Nvidia faces ‘near zero chance’ of beating Bitcoin this decade again — Crypto execs
Technology company Nvidia outperformed Bitcoin over the past decade, but cryptocurrency executives see slim chances of a repeat.
Technology company Nvidia’s (NVDA) outperformance of Bitcoin (BTC) over the past ten years should not be used as an indicator for the next decade, as it is unlikely to happen again, according to crypto executives.
“Near zero chance of Nvidia outperforming Bitcoin over the next 10 years,” argued Swan Bitcoin CEO Cory Klippsten in a May 24 X post.
“I’d pick Bitcoin over Nvidia for the next ten years, personally,” investment strategist Lyn Alden stated, after pointing out on X that NVDA “is one of the few assets that has outperformed Bitcoin over a 10-year time period.”
P2P Bitcoin Exchange Hodl Hodl Suspends Lending Services for US and UN Embargoed Countries’ Residents
Hodl Hodl, a non-custodial Bitcoin exchange, has announced changes to its “Terms of Service” agreement affecting the availability of its lending services. The platform is now excluding residents of the U.S. as well as U.N. embargoed countries from its lending platform, citing “regulatory uncertainty” as the reason behind these changes. Hodl Hodl to Exclude US […]BitGo’s $100M suit against Galaxy can proceed — Delaware Supreme Court
After being dismissed by the Delaware Court of Chancery in 2023, the state’s supreme court ruled the definition of the merger agreement between BitGo and Galaxy was “ambiguous.”
Delaware’s Supreme Court has reversed a ruling from a lower court that dismissed a $100 million lawsuit brought by BitGo against Galaxy Digital following a failed acquisition.
In a May 22 filing, the Supreme Court of the State of Delaware said language in the BitGo-Galaxy Digital $1.2 billion merger agreement — which the latter terminated in August 2022 — was “ambiguous.” The state supreme court concluded that it would reverse the Delaware Chancery Court’s decision “for the consideration of such extrinsic evidence as may be appropriate to resolve this ambiguity.”
The successful appeal, first submitted on Feb. 7, would seemingly allow BitGo another bite at the apple to file suit against Galaxy Digital. In an August 2022 lawsuit, the firm alleged Galaxy committed an “intentional breach” of the acquisition agreement. Galaxy claimed at the time that it was within its rights to drop the deal after BitGo failed to deliver audited financial statements from 2021.
Chainlink price hits 6-week high, is $20 LINK the next stop?
LINK’s double-digit rally is backed by increasing network activity and a bullish technical setup.
Chainlink (LINK) price gained 7% on May 24, despite a downturn in the wider cryptocurrency market.
Currently priced at $17.04, LINK has seen an impressive 30% increase so far in May, prompting investors to wonder whether the drivers for a rally above $20 still exist.
Let’s look at the factors that could possibly drive LINK price higher.
Bank Employee Steals $2,100,000 From Customers, Spawns Web of Unauthorized Transactions and Illicit Accounts: DOJ Indictment
The U.S. Department of Justice (DOJ) is accusing a bank employee of creating a web of unauthorized transactions and illegal accounts, stealing more than $2.1 million from customers. In a 17-count indictment, the DOJ says it’s charging Yue Cao of Winfield, Illinois, with alleged bank fraud, aggravated identity theft and engaging in monetary transactions in […]
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Blockchain Gaming Altcoin Axie Infinity Flashing Signs of Potential 194% Surge, Says Crypto Trader – Here’s Why
The blockchain gaming altcoin Axie Infinity (AXS) is flashing signs that it could be ready to take off on a massive surge upwards, according to a popular crypto trader. The analyst Ali Martinez tells his 62,600 followers on the social media platform X that it looks like AXS is forming an inverse head-and-shoulders pattern on […]
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Veteran Trader Peter Brandt Warns of ‘Biggest Disasters yet to Come in Crypto’
Veteran trader Peter Brandt has issued a stark warning about the future of crypto staking, calling it “the biggest disasters yet to come in crypto.” He predicts significant disasters, bankruptcies, and personal financial losses within the sector. His warning followed the approval of spot ethereum exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission […]How to train an AI bot to day-trade crypto
Learn the essential steps to create and train your own AI bot for day trading cryptocurrencies and potentially automate your trading decisions.
Crypto trading algorithms and bots are common tools in cryptocurrency trading. The emergence of generative artificial intelligence (AI) has added new capabilities to these tools, creating AI crypto trading bots and spurring further interest in their use.
For investors who take advantage of these tools to augment their day-trading strategies, effective AI bot training is critical to their success.
AI crypto trading bots, algorithmic trading tools, or automated trading bots are software programs or platforms that use AI, machine learning or algorithms to monitor crypto markets and automatically execute crypto trades. Trading bots automate trading tasks such as choosing, buying or selling a cryptocurrency based on certain parameters and a trader’s chosen strategy.
Crypto Biz: Kraken denies USDT delisting, crypto custody on the rise, and more
This week’s Crypto Biz explores Kraken’s stablecoin plans in Europe, the departure of Grayscale’s CEO, Prometheum’s Ether custody service that treats ETH as a security, and more.
Custody of digital assets has become an increasingly popular business, particularly since the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States.
The latest companies seeking to safeguard assets for institutional investors include Taurus and Fireblocks. While Taurus announced opening an office in Canada in response to a demand for custody and tokenization, Fireblocks is awaiting regulatory approval for a limited-purpose trust company regulated by the New York Department of Financial Services.
Ripple foresees the institutional crypto custody market could reach nearly $10 trillion by 2030.
Solana eyes 2025 for Firedancer rollout as DePIN activity surges
With DePIN activity surging, Solana targets Firedancer upgrade to enhance network performance and accommodate growth.
Solana plans to release a full version of the Firedancer upgrade in 2025, with “pared-down versions” rolling out before then, according to Solana Foundation’s DePIN lead, Kuleen Nimkar.
The upgrade aims to increase Solana’s overall reliability and scalability as network activity from decentralized infrastructure protocols continues to grow. “We’re seeing a ton of up-and-coming deep-end projects that are doing everything,” Kuleen said of DePIN activity at DEFICON on May 23.
DePIN, or decentralized physical infrastructure networks, refers to the use of blockchain to manage and operate physical infrastructure systems.
Ethereum Foundation to have conflict of interest policy after EigenLayer crossovers
Executive director Aya Miyaguchi said the foundation’s neutrality can’t depend on culture and individual judgment after researchers take multimillion-dollar roles at EigenLayer.
The Ethereum Foundation will institute a policy on conflicts of interest, executive director Aya Miyaguchi said on May 24. The announcement came in response to controversy in the crypto community over connections between the foundation and EigenLayer developers.
Two Ethereum researchers joined the ranks of paid advisers at the EigenFoundation in the week preceding Miyaguchi’s announcement. Justin Drake announced his appointment at EigenFoundation on May 19 in a lengthy X post. He said he would receive incentives from EigenFoundation worth “millions of dollars” but would reinject the money in the Ethereum ecosystem. Dankrad Feist made a similar long announcement the following day. Feist acknowledged receiving “a significant amount of tokens,” adding:
Both researchers said they were taking the posts personally and not as representatives of the Ethereum Foundation. Drake promised “to continue to lean critical of EigenLayer,” and Feist said he would “take contrarian views.” Reaction to the researchers’ moves was mixed. ZkSecurity co-founder David Wong tweeted on X about Drake:
Ethereum Foundation to implement conflict of interest policy amid EigenLayer controversy
The Ethereum Foundation is set to implement a formal conflict of interest policy following community backlash over researchers’ ties to EigenLayer, highlighting the need for transparency and accountability in the Ethereum ecosystem.
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