Do We Even Need Bitcoin ETFs
After five years of drama and dozens of rejections, ETFs (exchange-traded funds) based on Bitcoin’s spot price have finally been approved. A total of 11 ETFs are making their market debut, allowing US investors to gain exposure to Bitcoin (BTC) without directly owning the cryptocurrency itself. While this could see billions of dollars flow into […]
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Mining Rig Producer Canaan’s Q1 Unrealized Gains Narrow Net Loss to $39.4 Million
Binance Aids Taiwan in Busting $6M Crypto Money Laundering Ring
Dolce & Gabbana Sued Over $6,000 NFTs Losing 97% Value
‘Big Short’ Investor Michael Burry Goes Hard on Gold, Invests $10 Million in Q1
$22,000 Disappears From JPMorgan Chase Account After Customer Reports Suspicious Activity – Now Bank Says Reimbursement Is Not Happening: Report
An Ohio family says a single phone call led to thousands of dollars being drained from their JPMorgan Chase bank account – and Chase says they’re on the hook for it. The Kalista family says they recently received a phone call from what was allegedly Chase, notifying them of suspicious activity, News 5 Cleveland reports. […]
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Fantom (FTM) Defies Crypto Market Doldrums and Surges 15% This Week Amid New Chain Upgrade
Ethereum (ETH) rival Fantom (FTM) has outpaced the broader crypto market and surged in price this week amid a new upgrade. FTM is trading around $0.801 at time of writing. The 55th-ranked crypto asset by market cap is up nearly 5.5% in the past 24 hours and more than 15% in the past week. By […]
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Meme coin supercycle or liquidity crisis? Expert discuss RoaringKitty’s return
Keith Gill’s return as RoaringKitty leads to a GameStop stock jump and potential meme coin supercycle, with crypto market liquidity remaining strong.
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Ontario ‘Crypto King’ Faces Major Fraud and Money Laundering Charges
Base records 212% increase in perpetual trading volumes
Base blockchain’s trading volumes soar with JOJO DEX, capturing a significant share and showcasing user engagement in the ecosystem.
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Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds Safe
French Regulator Renews Warning Against Blacklisted Bybit
Detained Crypto Executive Can Face Trial as a Binance Representative, Says Nigerian Court: Report
A Nigerian court is reportedly ruling that a detained Binance executive can face trial as a representative of the crypto exchange platform. According to a new report by Reuters, a Nigerian court ruled that U.S. citizen Tigran Gambaryan – Binance’s chief financial compliance officer – can stand trial on behalf of the world’s largest crypto […]
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Move-based blockchains growth relies on EVM compatibility: Movement Labs co-founder
EVM compatibility is driving the rapid growth of Move-based blockchains like Sui and Aptos, as explained by Movement Labs’ co-founder.
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Alex Labs freezes $3.9M of exploited funds sent to CEXs after hack
The team behind the Bitcoin layer-2 developer has successfully frozen some exploited crypto after the attacker tried to cash out by sending funds to exchanges.
Bitcoin layer-2 developer Alex Labs has successfully frozen more than $3.9 million worth of crypto that was exploited from its BNB Smart Chain bridge, according to the team’s May 16 social media post. According to the post, the attacker sent the funds to several different centralized exchanges (CEXs), which allowed them to be frozen with the cooperation of the exchanges.
The team said it recovered the complete balances for 17 different tokens, including “all aBTC, sUSDT, xBTC, xUSD, ALEX, atALEX, LiSTX, LUNR, SKO, CHAX, $B20, ORDG, ORMM, ORNJ, TRIO, TX20 and STXS.”
$13.7 million worth of Stacks (STX) tokens were also exploited. Of these, the attacker made the mistake of sending “about 3 million” to centralized exchanges. The post links to a spreadsheet showing the STX balances at each exchange the hacker used to transfer funds. It shows that a total of $3.7 million is held at exchanges, whereas $9.6 million are held in wallets under the direct control of the attacker.
Crypto Biz: Galaxy, CoinShares Q1 results, ETFs on the blockchain, and more
This week’s Crypto Biz features Galaxy Digital and CoinShares earning results, Franklin Templeton’s CEO betting on blockchain, Polymarket’s funding raise, and a leadership transition at dYdX.
Spot Bitcoin exchange-traded fund (ETF) managers have released their first financial results since the crypto funds began trading.
Galaxy Digital’s net income rose 40% in the first quarter, with management and performance fees reaching $17.8 million — a 113% increase from the previous quarter.
CoinShares, which recently completed the acquisition of Valkyrie’s spot Bitcoin (BTC) ETF, posted a 216% revenue gain in Q1 to 19.5 million British pounds ($24.5 million).
US Lawmaker Introduces Bill to Dismantle Fed’s Board of Governors and Abolish the Central Bank
Blockchain gaming investments reached nearly $1B in April
The investment figures come alongside a record high 2.9 million daily unique active wallets (dUAW) for the month.
Blockchain gaming saw investments totaling $988 million in the month of April, the highest since January 2021. The number of daily unique active wallets also reached a record-setting 2.9 million for blockchain gaming.
DappRadar, in partnership with the Blockchain Gaming Alliance, released its April blockchain gaming report on 17 May. The banner month for the sector accompanies similar trends in the overall decentralized applications (Dapp) market.
According to the report, the recent boon can be attributed to several factors including renewed consumer interest in digital assets within the context of gaming:
Ethereum price rallies above $3.1K after unexpected regulatory victory
ETH price hit $3,100, backed by a favorable court ruling and increased network activity.
Ether (ETH) price rose by 5.5% on May 17, nearing $3,100 for the first time in 10 days. Analysts attributed this rally to a decrease in demand for fixed-income instruments following stagnant United States retail sales data in April. This data increased the market’s expectation of a potential interest rate cut by the U.S. Federal Reserve to boost the economy.
Expansionary measures by the central bank are typically seen as bullish for risk-on markets, whether due to an increased monetary supply or reduced credit costs for businesses and individuals. Investors sought exposure to scarce assets, including cryptocurrencies, leading to gold reaching $2,410, just 0.8% below its all-time high.
Ether’s surge was also driven by a U.S. Department of Justice indictment unsealed on May 15. The indictment accused two individuals of wire fraud and money laundering by manipulating the Ethereum blockchain. The document stated that “Ethereum is a decentralized blockchain […] without the need for a trusted intermediary” and added, “No central actor runs the Ethereum Network.”
Bank Executive Embezzles $1,528,321, Steals Customers’ Personal Information To Deploy False and Fictitious Loans: DOJ
A former bank executive is facing decades behind bars for abusing her position to embezzle more than a million dollars. The U.S. Attorney’s Office for the Western District of Missouri says Stacia Wilson has pleaded guilty to one count of bank fraud. Wilson, who worked as vice president at St. Clair County State Bank in […]
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Penguiana Reports New Milestones As PENGU Presale Hits Soft Cap, Teases Play-to-Earn Game Trailer Next Month
Bitcoin’s Price Is Likely To Rise Based on the Basic Laws of Supply and Demand, Predicts Crypto Analyst
The “basic laws of supply and demand” are primed to act in Bitcoin’s (BTC) favor, according to a popular crypto analyst. The trader Ali Martinez tells his 62,300 followers on the social media platform X that Bitcoin flooded the market after the top crypto asset hit an all-time high of more than $73,700 in March, […]
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MakerDAO founder introduces new stablecoins: NewStable and PureDAI
MakerDAO founder Rune Christensen unveils NewStable and PureDAI to replace DAI, which has a $5.4 billion market cap.
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‘Change Your Life With Crypto’: With Bitcoin (BTC) on the Rise, Analyst Breaks Down Altcoin Markets
One widely followed crypto analyst believes digital assets are on the precipice of a prosperous new era. Crypto trader Michaël van de Poppe tells his 718,500 followers on the social media platform X that better times are ahead for the markets. “This might be the final easy rally to change your life with crypto. If you have […]
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zkSync gears toward final upgrade, community eyes airdrop by end of June
ZkSync aims to empower users with a governance token airdrop, finalizing its community-led approach after the v24 upgrade in June.
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Bitcoin ETFs show $1.3 billion inflows and bounce back from April’s slump
US Bitcoin ETFs recover from April’s outflows with $1.3 billion in recent inflows, as total management exceeds $12.3 billion.
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More Than 900 Professional Firms Bought Into Spot Bitcoin ETFs in Q1, According to Crypto Intelligence Firm
A senior analyst with crypto intelligence platform K33 Research says investments in spot Bitcoin (BTC) exchange-traded funds (ETFs) are surging. In a post on social media platform X, Vetle Lunde says that the number of professional firms that invested in Bitcoin ETFs in Q1 outpaced the number of firms that invested in gold ETFs in […]
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Chainlink Soars 16%+ in 24 Hours After Completing Fund Tokenization Pilot With Major Securities Settlement Firm
Decentralized oracle network Chainlink (LINK) is skyrocketing after completing a fund tokenization pilot with the Depository Trust and Clearing Corporation (DTCC). According to a new press release, the DTCC has developed a new pilot program, known as Smart NAV, which utilizes both the firm’s digital asset capabilities as well as Chainlink’s data feeding and interoperability […]
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Crypto Mining Surge and Erratic Weather Strain Laos’ Power Grid
Anthony Scaramucci Predicts More Pension Funds Will Invest in Bitcoin, Says ‘We Are Still Early’ in BTC Adoption
SkyBridge Capital founder Anthony Scaramucci is predicting that more pension funds will add Bitcoin (BTC) to their investment portfolios. In a new interview on CNBC Squawk Box, the hedge fund veteran says other pension funds are likely to follow the State of Wisconsin’s decision to invest in Bitcoin to help pay for retirement benefits. New […]
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