Binance partners with Taiwan authorities in $6.2M money laundering crackdown
Binance and Taiwan’s authorities dismantle a $6.2m laundering operation, highlighting the power of global law enforcement collaboration.
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Crypto Trader Says Bitcoin Is out of the Post-Halving ‘Danger Zone’ – Here’s His Outlook
A cryptocurrency analyst and trader believes Bitcoin (BTC) is no longer at risk of a further market correction. The analyst pseudonymously known as Rekt Capital tells his 76,900 YouTube subscribers that based on historic precedence Bitcoin has left the phase, or “danger zone,” when there is a likelihood of a dip below its range low […]
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Solana leads as the fastest among large-scale blockchains — CoinGecko
Solana, the fastest blockchain, processed 91M transactions in a day, 46 times faster than Ethereum and 5 times faster than Polygon.
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‘Rocket Fuel for Bitcoin’: Analyst Jamie Coutts Says This Catalyst Could Propel BTC to $150,000 This Cycle
Real Vision analyst Jamie Coutts is saying that the performance of the US dollar against other major currencies will impact the price of Bitcoin (BTC). Coutts tells his 16,300 followers on the social media platform X that the US Dollar Index (DXY), a measure of the US dollar’s value compared to a basket of six […]
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DOJ’s Unlawful Interpretation Threatens Bitcoin and Crypto Innovation, Lawmakers Warn
Two U.S. senators have criticized the Department of Justice (DOJ)’s new interpretation of “money transmission,” which extends requirements to non-custodial software, citing concerns over its impact on crypto networks and financial innovation. “I’m concerned the DOJ’s interpretation would treat software developers as criminals for merely writing and publishing code used by others,” one of the […]Bitcoin analysis mostly ‘noise,’ a $70K breakout is what matters
Another Bitcoin break above $70,000 will be a significant signal for traders, but according to Mati Greenspan, analysis is “pretty futile” until it happens.
Bitcoin price watchers are scrutinizing charts top to bottom, but one analyst says there’s little point until the cryptocurrency gets closer to its all-time high again.
“It’s the breakouts that are exciting, so until we have a breakout, analyzing the charts will be pretty futile,” Quantum Economics founder Mati Greenspan explained to Cointelegraph.
He claimed there is “a lot of noise” from crypto traders and analysts giving market commentary at the moment.
Reddit shares jump after-hours on OpenAI data-sharing deal
Reddit said the deal allows OpenAI’s tools to “better understand and showcase Reddit content” with the AI firm back new features on the social platform.
Reddit stock rose 11% in after-hours trading after the social media firm struck a data-sharing deal with OpenAI, the creator of the artificial intelligence (AI) chatbot ChatGPT.
Reddit said on May 16 that it will provide OpenAI with access to its data application programming interface (API), which will provide real-time content from posts made on the platform. Reddit said this would “bring Reddit content to ChatGPT and new products.”
In exchange, OpenAI will give Reddit users and moderators a suite of new AI-powered features aimed at strengthening user engagement.
$25M Sophisticated Ethereum Blockchain Exploit Leads to Arrests in US
The U.S. Department of Justice (DOJ) has indicted two brothers for wire fraud and money laundering. They allegedly exploited the Ethereum blockchain to steal $25 million in cryptocurrency within 12 seconds. Using sophisticated techniques, they manipulated transactions and concealed their identities. If convicted, each faces up to 20 years in prison for each count. DOJ […]The Pulse of the Market – How Fear and Greed Shape Cryptocurrency Trading
In the high-stakes world of cryptocurrency, market sentiment often swings wildly, driven by speculation and the whims of influential voices. Unlike traditional financial markets, crypto values can skyrocket or plummet based on the collective mood of traders, making it essential to stay attuned to these emotional undercurrents. Consider the sway of figures like Elon Musk […]
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Altcoins a ‘relatively huge’ risk as days of big returns are gone, say analysts
Altcoins have “tactical opportunities” but not the massive gains seen in previous cycles, says 10xResearch head of research Markus Thielen.
The high-risk, high-reward theory of altcoins might be tilting toward the former as big gains are now less likely due to weak narratives driving the crypto market, say crypto analysts.
“While tactical opportunities exist, the era of 100x returns may well be behind us,” 10xResearch head of research Markus Thielen told Cointelegraph.
He cautioned that despite the market anticipating an altcoin bull market this year, “retail participation remains subdued, and few new projects have emerged that captivate non-crypto-native traders.”
Bybit’s Notcoin listing debacle, China firm’s profits up 1100% after crypto buy: Asia Express
Bybit to compensate users after Notcoin listing debacle, China gaming firm’s profits up 1100% after $200M crypto buy, and more: Asia Express.
Our weekly roundup of news from East Asia curates the industrys most important developments.
Cryptocurrency exchange Bybit hasbeenembroiledin controversyover the initial listing of Notcoin (NOT), a play-to-earn game and token integrated as a Telegram Mini App and built on The Open Network.
Essentially, not all users received their airdrop before the market opened, leaving them at a disadvantage to those who had. The trading price was subsequently much lower than some other exchanges.
‘Crypto King’ Aiden Pleterski faces fraud, money laundering charges
Pleterski and an associate were arrested months after multiple investor complaints and months of police investigation.
Canadian police are charging self-declared “crypto king” and social media personality Aiden Pleterski with one count of fraud over $5,000 Canadian dollars ($3,666) and money laundering after a lengthy investigation. His associate Colin Murphy was also charged with fraud, police and the Ontario Securities Commission (OSC) have announced.
Pleterski was arrested on May 14 and freed on the same day on C$100,000 bail provided by his parents. Colin Murphy faces the charge against him for soliciting investments and falsely claiming to receive “large weekly profits through savvy investments.” Murphy was released on a promise to appear in court.
Related: Canadian police warn crypto investors on growing home robbery trend
Andrew Tate Plans to Invest Big in Bitcoin, Leaving Fiat Completely
Andrew Tate, a British-American social media personality and former professional kickboxer, has announced a plan to invest significantly in bitcoin, expressing frustration with banks and their scams. “I’m about to leave fiat completely,” he stressed. “I’m done with the banks. I’m done with their money. Done with the scams.” Andrew Tate Plans to Shift ‘100M’ […]Solana Meme Coin Marketplace Pump.fun Suffers $80 Million Exploit
Pump.fun, a Solana-based marketplace and deployment tool for meme coins, has acknowledged suffering an exploit dealing with the bonding curve contracts in its platform. While the protocol is still investigating the matter, it reported that “the TVL in the protocol right now is safe,” as it has upgraded the contracts to deal with the attack […]Legendary Investor Tim Draper Leads Bitcoin Lending Protocol Zest’s $3.5 Million Seed Round
Draper Associates, the VC firm led by the legendary investor Tim Draper, has led the $3.5 million seed round of Zest Protocol, a Stacks-based Bitcoin lending market. The round, which also had the participation of Binance Labs, Flow Traders, Trust Machines, and others, seeks to allow bitcoin holders to put their capital to use using […]DTCC, Chainlink complete fund data tokenization pilot with U.S. banks
The pilot program tested a method of bringing traditional finance fund data onto blockchains with big banks JPMorgan and BNY Mellon also involved.
The world’s largest settlement system, the Depository Trust and Clearing Corporation (DTCC), and blockchain oracle Chainlink have wrapped up a pilot program with several major banking firms in the United States aimed at increasing traditional finance fund tokenization.
The Smart NAV Pilot program was conducted to standardize a method of providing net asset value (NAV) data of funds across blockchains, using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), according to a May 16 DTCC report.
“The pilot found that by delivering structured data on-chain and creating standard roles and processes, foundational data could be embedded into a multitude of on-chain use cases, such as tokenized funds and ‘bulk consumer’ smart contracts, which are contracts that hold data for multiple funds,” it wrote.
$9,100 Drained From US Veteran’s Bank Account – Bank Rejects Responsibility, Demands Victim Pay $2,800 Negative Balance: Report
A customer at a US bank says $9,100 was mysteriously drained from his account even after he notified the lender about suspicious activity. Military veteran Roberto Rangel says USAA then refused to reimburse his account – and demanded he pay a negative balance of $2,800 that was triggered by the theft, reports the Fox-affiliated news […]
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Juno Addresses Banking Service Disruption — ‘This Is Outside Our Control’
Juno Finance acknowledges the disruption in banking services and is collaborating with its brokerage and banking service providers, Synapse and Evolve Bank & Trust, to restore full service as soon as possible. Juno is a financial platform that integrates checking and savings accounts with cryptocurrency trading. “Currently, Evolve Bank & Trust has frozen all card […]Memecoin launcher pump.fun claims ex-employee behind $1.9M exploit
Pump.fun said its smart contracts are safe and impacted users will receive “100% of the liquidity” that it previously had within the next 24 hours.
Solana memecoin creation tool pump.fun has claimed a former employee exploited the firm for nearly $2 million through a “bonding curve” attack.
The ex-employee used their “privileged position” to access a “withdraw authority” and compromise the protocol’s internal systems, pump.fun alleged in a May 16 X post.
About $1.9 million was stolen from the total $45 million held in pump.fun’s bonding curve contracts.
Foundation for Next Altcoin Hype Cycle Now Setting Up, Says Crypto Trader – Here’s His Timeline
A closely followed crypto analyst says that altcoins are setting the stage for a massive breakout by July. Pseudonymous analyst Rekt Capital tells his 467,200 followers on the social media platform X that an alt “hype cycle” is likely coming in the second quarter of the year as the market consolidates. “Still time left before […]
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Gone in 12 Seconds: Two MIT-Educated Brothers Arrested for Alleged Lightning-Fast $25,000,000 Crypto Exploit
Two US brothers who attended the Massachusetts Institute of Technology (MIT) have been arrested for allegedly partaking in a high-speed multimillion-dollar crypto heist. According to a new press release by the U.S. Department of Justice (DOJ), the brothers – Anton Peraire-Bueno, 24, of Boston, and James Pepaire-Bueno, 28, of New York – have been attained […]
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Bitcoin moves toward range highs but derivatives traders watch from the sidelines
Bitcoin price showed strength near its medium-term range high but multiple factors are preventing derivatives traders from opening new positions.
Bitcoin (BTC) gained 8.4% between May 15 and May 16, peaking at $66,750, which was the highest level in three weeks. Even though Bitcoin stabilized near $65,000, this price change marks a turnaround after BTC retested the $57,000 support on May 1. However, these gains were not enough to instill bullishness according to Bitcoin derivatives metrics.
Part of Bitcoin investors’ disappointment can be attributed to the strong performance of traditional assets. The S&P 500 index soared to an all-time high on May 16, with a total gain of 6% over 15 days. Meanwhile, gold gained 4% in the same period and is currently trading at $2,375, less than 1% away from its highest closing price ever.
Bitcoin needs to rally another 12% to reclaim its highest closing price of $73,084. This feat seems unlikely given that the primary driver of price, namely spot Bitcoin exchange-traded funds (ETFs) inflows, has faded. These ETFs captured $12.1 billion in investments since their launch in January but have stagnated for the past two months.
VC Roundup: Web3 infrastructure, ‘tokenization of everything’ drawing investors
Funding for crypto startups rose to over $1 billion in April, with investors focusing on tokenization, Web3 infrastructure, and institutional demand amid the bull market.
Venture funding for crypto startups peaked at $1 billion in April, marking the second consecutive month above that pivotal mark this year with 161 investment rounds, indicating investors’ renewed interest amid the bull market.
Key trends catching venture firms’ attention include decentralized infrastructure, solutions for institutional adoption, and the ‘tokenization of everything,’ aa told by Xiao Xiao, partner at HashKey Capital. In written comments to Cointelegraph, Xiao discussed HashKey’s investment priorities at the moment:
Another area of attention for HashKey is the convergence of artificial intelligence and blockchain technology. “Enhanced data analytics powered by AI are offering deeper market insights, superior fraud detection, and optimized trading strategies, leading to greater operational efficiency and security,” said Xiao.
Big miners pose a growing existential threat to Bitcoin
As of May, AntPool and Foundry USA controlled more than 50% of Bitcoin’s hash rate. That could become a problem for Bitcoin users in the near future.
Bitcoin (BTC) mining is now in the hands of the few. Well-known mining pools have seized overwhelming power, which poses an existential threat to the world’s first digital asset. It’s the logical outcome of a design flaw by Satoshi Nakamoto.
Unfortunately, Bitcoin mining has always tended towards centralization. Bitcoin miners could once mine blocks with CPUs on personal computers due to fewer miners and therefore a lower overall hash rate. That evolved into GPUs around 2010 and into application-specific integrated circuit (ASIC) miners in 2012. ASICs ultimately gave rise to massive mining companies that filled warehouses with hundreds or thousands of rigs.
Miners who control a greater percentage of Bitcoin’s network hash rate are more likely to mine blocks and collect the Bitcoin block reward — the financial incentive for verifying and adding transactions to the Bitcoin blockchain. That’s why small-scale miners often join a mining pool along with others running their own ASICs. These miners earn in proportion to the amount of computing power they contribute to a mining pool’s network.
Bitwise CIO says BTC ETFs are huge success and 13F filings make him ‘incredibly bullish’
Bitwise CIO Matt Hougan says this week’s 13F filings prove that the spot Bitcoin ETFs were a “huge success.”
This week’s 13F filing revealed who is buying the spot Bitcoin ETFs and what their position size is, and while Bitwise Chief Investment Office Matt Hougan celebrated the success of the ETFs, he says there is a significant point that the media might miss that makes him even more bullish on the BTC ETFs.
Hougan said that 563 professional investment firms have reported owning a combined $3.5 billion worth of Bitcoin ETFs. Hougan anticipates that these numbers could eventually surpass 700 firms with total assets under management nearing $5 billion.
Hougan’s guess was spot on, with the latest data from K33 Research revealing that more than 900 firms disclosed their spot Bitcoin ETF holdings.
US Senate Votes to Overturn SEC’s Controversial Crypto Rules — Biden’s Veto Threat Looms
The U.S. Senate has voted to overturn the Securities and Exchange Commission (SEC)’s controversial SAB 121, which imposes regulatory burdens on digital asset custodians. The resolution also passed in the House and now faces a veto threat from President Joe Biden. Last week, the White House issued a statement: “If the President were presented with […]Global Liquidity Cycle Set To Push Crypto Into Next Massive Bull Market, According to Macro Guru Raoul Pal
Former Goldman Sachs executive Raoul Pal thinks the global liquidity cycle will drive crypto prices higher. In a new YouTube video, Pal tells his 703,000 subscribers that there are currently macroeconomic sources of liquidity “everywhere,” including upcoming monetary policy choices from the U.S. Federal Reserve. The Real Vision chief executive also notes that global liquidity […]
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Crypto Analyst Looks Ahead for Bitcoin After BTC Breaks Downtrend
One widely followed crypto analyst says Bitcoin’s latest rally is turning an old BTC resistance into new support. Pseudonymous crypto trader Rekt Capital tells his 468,200 followers on the social media platform X that BTC’s 2% leap in the last 24 hours could be the end of a downtrend. “BTC is breaking its Daily Downtrend” According to the analyst, the […]
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French regulator warns investors Bybit provided services ‘illegally’
The Autorité des Marchés Financiers reported Bybit has been blacklisted since May 2022 “for non-compliance with current French regulations.”
The Autorité des Marchés Financiers (AMF), the securities regulator in France, has reiterated a warning to crypto investors that Bybit is blacklisted in the country.
In a May 16 notice, the AMF reminded the French public that Bybit was an unregistered crypto platform operating illegally in the country, offering digital asset services on behalf of third parties. The regulator warned it had the authority to block Bybit’s website “providing its services illegally in France.”
“Unregistered platforms providing these services in France are illegal under French law,” said the AMF. “BYBIT is not registered as a [digital asset service provider].”
Bitcoin ETFs attract 937 professional firms in Q1: K33 Research
937 firms have invested in US Bitcoin ETFs, marking a shift in professional asset allocation towards digital assets.
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