What happens if Biden vetoes Senate bid to cancel SEC’s crypto rule?
US Senate’s vote to revoke SEC’s crypto rule now hinges on Biden’s veto, with potential major implications for the crypto sector.
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Down From the Peaks: Bitcoin Holds Strong, Closer to ATH Than Crypto Rivals
Despite bitcoin holding steady above the $66,000 mark on Friday, the leading cryptocurrency is still down 9% from its all-time high (ATH). In comparison, most other cryptocurrencies are much further from their ATHs, with many alternative crypto assets still having a significant journey ahead to reach their former peaks. Bitcoin: 9% Below ATH as Altcoins […]
Pink Drainer shuts down after dealing over $85 million in damage
Pink Drainer, a notorious crypto wallet-draining service, announces its closure after pilfering over $85 million from more than 21,000 victims in the past year.
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Bitcoin Technical Analysis: BTC Bulls Eye $68K After Surpassing Key $66K Resistance
As of May 17, 2024, bitcoin’s price stands at $66,303 with a market capitalization of $1.30 trillion and a 24-hour trading volume of $28.43 billion. Technical indicators from multiple time frames suggest a potential continuation of the bullish trend, albeit amidst notable market volatility. The convergence of moving averages and oscillators signals a strong upward […]‘It’s Over for Memecoins’: Trader Who Nailed 2022 Crypto Bottom Turns Bearish on dogwifhat and Pepe – Here’s Why
A trader known for making accurate crypto calls is suddenly turning bearish on memecoins. Pseudonymous analyst DonAlt tells his 550,400 followers on the social media platform X that memecoin projects could suddenly collapse. “I’m personally convinced it’s over for memes, rest of the market might get out of this ok but I’m expecting memes to […]
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The Hashgraph Association Partners With Qatar Financial Centre to Launch Digital Assets Venture Studio
The Hashgraph Association, a Swiss non-profit organization, has partnered with the Qatar Financial Centre (QFC) to launch a $50 million digital assets venture studio. The venture studio aims to support companies in developing regulatory-compliant decentralized finance (defi) solutions. Supporting Web3 Startups With Bankable Defi Solutions The Hashgraph Association, a non-profit organization based in Switzerland, has […]
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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Base to Launch Online Hackathon With 200 ETH in Prizes, Sponsored by Stripe, Shopify, and More
Base, the Ethereum Layer 2 solution incubated by Coinbase, has announced the Onchain Summer Buildathon. The event, which runs from May 31st to June 30th, invites builders worldwide to showcase their skills in various onchain use cases, including payments, commerce, gaming, and social. The Buildathon offers 200 ETH in total prizes across eight sponsored tracks, […]Decreasing Bitcoin Supply on Exchanges Indicating Possible Bullish Shift
Bitcoin’s supply on exchanges has significantly decreased, reaching new lows amid a bullish market trend, which analysts interpret as a shift towards long-term holding rather than short-term trading. A report by Bybit claimed that the diminishing supply could deplete within the next nine months, driven by factors such as the recent Bitcoin halving event and […]Tim Draper Champions Blockchain Startups: Announces Major Partnership With Stellar
Renowned venture capitalist Tim Draper announced a significant collaboration between Draper University and Stellar. The partnership aims to accelerate and fund up to 80 startups over the next two years, with these startups set to build on the Stellar blockchain platform. The initiative includes the Stellar Astro Hacker House and the Stellar Embark Accelerator, programs […]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.
What Is Restaking?
The concept of restaking introduces a groundbreaking way for people to utilize their staked cryptocurrency across various protocols simultaneously. This not only boosts reward potential but also significantly enhances the security and scalability of blockchain networks, benefiting the entire crypto ecosystem. Introduction to restaking A common occurrence In the rapidly evolving world of blockchain technology […]$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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Block Subsidiary, TBD, Partners With Chipper Cash for Quicker, More Affordable Remittances
TBD, a subsidiary of Block, owned by Jack Dorsey, has formed a partnership with Chipper Cash, an Africa-focused fintech company. This partnership aims to expedite consumer remittances and make them more affordable. According to a statement, Chipper Cash plans to use the decentralized exchange protocol of TBD. This will enable trusted transactions that comply with […]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.