News

BTC falls below $60K as Mt Gox starts creditor repayments

The Bitcoin price fell more than 4% on July 3 to go below the critical $60,000 level for the first time since late May. Analysis shows a jump in historical Bitcoin trading, most likely due to the Mt Gox trustee beginning reimbursements to creditors after 10 years.

Yagyesh Jaiswal

Bitcoin price declined over 4% on July 3 to dip under the key $60,000 level for the first time since late May. Analysis shows a surge in old Bitcoin moving likely related to the Mt Gox trustee beginning repayments to creditors after 10 years of waiting. This article analyzes the factors that contributed to Bitcoin falling under $60K and whether the start of Mt Gox repayments was a primary catalyst.

Sydney Sweeney's X Account Hacked to Promote Fake Memecoin

Recently actress Sydney Sweeney had her Twitter account compromised by scammers promoting a meme cryptocurrency.

Yagyesh Jaiswal

The trend of celebrity crypto scams persists as scammers exploit individuals' social media platforms for pump-and-dump schemes. It's crucial to stay vigilant and informed to combat these practices.

Minting Activity of USDT Drops on TRON and Ethereum

New analysis shows that USDT minting on the Ethereum and Tron chains dropped seriously in the first half of this year, falling from $7 billion to just $1 billion.

Yagyesh Jaiswal

Due to the drop in the demand and trading activity, the minting of USDT on the 2 largest smart contract platforms has reduced significantly in the first half of the year. Bitcoin and altcoin prices may continue to face downward pressure except there is a recovery.

Keith "Roaring Kitty" Gill Sued Over Gamestop Posts

Keith Gill, also recognized as Roaring Kitty on platforms, is currently confronted with a class action lawsuit accusing him of securities fraud linked to his trading actions involving GameStop this year. Yet according to an analyst, the lawsuit might not have grounds for success, in a court setting.

Yagyesh Jaiswal

Keith Gill is accused of misleading investors through cryptic social media posts about his GME positions. A former federal prosecutor believes the securities fraud complaint will struggle to prove its claims and may be intended more for publicity than legal merit.

US Judge Dismisses Some SEC Charges Against Binance

A federal judge dismissed some charges but allowed most of the SEC's lawsuit against Binance and founder CZ to move forward, leaving questions about Binance's operations in the US.

Yagyesh Jaiswal

While this ruling provides some clarity, Binance's ability to operate in the US market remains ambiguous as the core allegations in the SEC's lawsuit were allowed to proceed.

Coinbase Takes SEC & FDIC to Court and Demands Transparency

Crypto exchange Coinbase has launched lawsuits against the SEC and FDIC to compel disclosure of information around their regulatory actions impacting the digital asset industry.

Yagyesh Jaiswal

By filing lawsuits under the Freedom of Information Act, Coinbase aims to establish transparency, consistency, and fairness in the regulatory practices of federal agencies overseeing the rapidly growing crypto sector.

Coinbase Declines ASI Token Merger

Coinbase has announced that it will not facilitate the migration of Ocean Protocol (OCEAN) and Fetch.ai (FET) tokens related to the upcoming Artificial Superintelligence Alliance (ASI) merger.

Yagyesh Jaiswal

While other major exchanges express support, Coinbase cites self-custody options for users but will continue trading the individual tokens until further notice.

Ripple CEO Warns SEC Actions May Impact Biden's Election Chances

Ripple CEO Brad Garlinghouse criticizes SEC Chair Gary Gensler’s approach to cryptocurrency, suggesting it could harm President Biden's chances in the upcoming election.

Yagyesh Jaiswal

Brad Garlinghouse, CEO of Ripple, claims that SEC Chair Gary Gensler’s regulatory approach could negatively impact President Biden’s re-election prospects in November.

FTX Wins Court Approval for Liquidation Plan Voting

FTX has received court approval to start voting on its liquidation plan, despite some creditors' objections due to rising cryptocurrency values since the company's collapse.

Yagyesh Jaiswal

FTX gets court permission to vote on its liquidation plan, paying claims in cash based on crypto prices at the company's fall. Some creditors argue for higher payouts due to increased crypto values.

Wikileaks Founder Julian Assange Finally Free

WikiLeaks founder Julian Assange has been released from Belmarsh prison in London after striking a plea deal with US authorities that will see him serve no additional jail time.

Yagyesh Jaiswal

After over a decade of legal battles and imprisonment, WikiLeaks founder Julian Assange has been freed and allowed to return to his home country of Australia after pleading guilty to one count of computer misuse in a US court.

BTC Holds Above $61K After Recent Dips, Sheds $1.3B from ETF

Explore Bitcoin's price movements, diving briefly below $60K before steadying at $61K, and discusses outflows of $1.3 billion from Bitcoin ETFs amid the overall crypto market slump.

Yagyesh Jaiswal

While Bitcoin saw selling pressure in recent weeks bringing its price down briefly below $60K, it rebounded and has since held above $61K. At the same time, Bitcoin ETFs experienced significant outflows totaling $1.3 billion as the crypto market overall experienced a downturn.

Crypto Market Corrections and Bitcoin ETP Outflows Surge

Bitcoin and other cryptocurrencies face significant outflows, with trading volumes hitting new lows as investors eye altcoins like Solana for potential gains.

Yagyesh Jaiswal

Over $630 million was withdrawn from Bitcoin investment products last week, amidst the lowest trading volumes for crypto ETPs this year, signaling a major market correction.

Cathie Wood Endorses Trump for Economic Leadership

Cathie Wood of Ark Invest announces her support for Donald Trump in the upcoming elections, citing his economic policies as pivotal for the U.S. economy. Discover her reasons and the broader crypto industry's stance.

Yagyesh Jaiswal

Cathie Wood, CEO of Ark Invest, declared her support for Donald Trump in the upcoming U.S. presidential election, emphasizing his economic policies as crucial for the country's prosperity.

Mt. Gox to Begin Repayments in July 2024 after 10 Years

Defunct cryptocurrency exchange Mt. Gox has announced that it will begin distributing over $9 billion in Bitcoin and Bitcoin cash to creditors in July 2024, after years of delays in the rehabilitation process.

Yagyesh Jaiswal

The long and troubled rehabilitation process of Mt. Gox appears set to finally begin the process of returning funds to creditors starting in July, with distributions of over $9 billion in Bitcoin and Bitcoin cash expected though the process remains complex.

Rapper 50 Cent Loses X Account to Hackers Causing Huge Scam

On June 21st 2022, 50 Cent's Twitter account was hacked and used to promote a meme coin scam that generated huge profits for the hacker within 30 minutes.

Yagyesh Jaiswal

The crypto scam orchestrated by hacking 50 Cent's account highlights the ongoing issue of account takeovers on social media platforms and proves why caution is needed when investing based on celebrity endorsements alone.

U.S. Lawmakers Push for the Release of Detained Binance Exec

Two US lawmakers recently visited detained Binance executive Tigran Gambaryan in a Nigerian prison and called for his release due to health concerns. However, Nigeria denies claims of mistreatment.

Yagyesh Jaiswal

The case of Binance executive Tigran Gambaryan's ongoing detainment in Nigeria continues to unfold, with US lawmakers advocating for his release while Nigeria maintains its stance.

Bitcoin Plummets to Below $68K, Influenced by Market Pressures

Bitcoin falls to its lowest price since mid-May, experiencing significant selling pressures from various sources, including governmental moves and ETF outflows.

Yagyesh Jaiswal

Bitcoin's value dropped below $64,000 due to intense market sell-offs, influenced by significant Bitcoin transfers to exchanges by the German government, among other pressures.

Binance Faces Regulatory Challenges Across the Globe

Binance, the largest crypto exchange, encounters regulatory setbacks, facing fines and suspensions in India, Canada, and the US.

Yagyesh Jaiswal

Binance confronts escalating regulatory issues with fines and operational suspensions in India, Canada, and the US, affecting its global operations.

Argentina's President Milei Backs Bitcoin for Economy

Argentine President Javier Milei advocates for Bitcoin in his latest currency reform plan, aiming to stabilize the national economy amid ongoing financial crises.

Yagyesh Jaiswal

Argentine President Javier Milei supports incorporating Bitcoin into the country's economic framework as part of a broader currency reform initiative.

SEC Closes Securities Investigation on Ethereum

The SEC has closed its years-long investigation into whether Ethereum's initial coin offering constituted the sale of unregistered securities, concluding their probe and giving the crypto industry much-needed clarity.

Yagyesh Jaiswal

By ending its inquiry without bringing charges, the SEC settlement provides official confirmation that ETH is not deemed a security, aligning with the CFTC's stance and removing a major roadblock to innovation and growth in the blockchain sector.

$150,000 Bounty Offered for Alleged Creator of DJT Token

A fund managed by Arkham has put up a $150,000 bounty for information that leads to the identification of the person behind the creation of the contentious Donald J. Trump (DJT) cryptocurrency token. Read on for full details.

Yagyesh Jaiswal

Explore Arkham Crypto Fund's $150,000 bounty seeking the identity of the mysterious DJT token creator, analyzing both sides of the controversial cryptocurrency project and ongoing debate surrounding it. Ultimately, more questions remain than answers at this point.

U.S. Bitcoin Miners Hit $22.8B Cap with AI Expansion

U.S.-listed Bitcoin mining companies have achieved a record market capitalization of $22.8 billion, propelled by network hashrate growth and diversification into AI ventures.

Yagyesh Jaiswal

U.S. Bitcoin miners have seen their market cap hit $22.8 billion, driven by increased network hashrate share and moves into AI data center projects.

MEV Sandwich Bot Rakes in $30M on SOL in 2 Months

A stealthy MEV bot called "arsc" exploited arbitrage opportunities on the Solana blockchain, earning approximately $30 million from June through August 2022.

Yagyesh Jaiswal

Through clever use of transaction ordering algorithms and decentralized finance activities, the anonymous operator behind the "arsc" bot accumulated significant profits from MEV attacks with relatively little attention or intervention on the Solana network.

zKsync Defends Airdrop Eligibility as Binance Joins

zKsync explained its Sybil detection measures for its upcoming ZK token airdrop as Binance announced its own distribution to expand eligibility.

Yagyesh Jaiswal

Both zKsync and Binance aimed to get ZK tokens into as many hands as possible while balancing Sybil prevention, with zKsync focusing on organic users and Binance expanding to those not in the official airdrop.

Ripple Leverages Terraform Case to Slash SEC Fine

Ripple invokes a recent SEC case involving Terraform Labs to argue for more equitable penalties in its ongoing lawsuit with the regulator.

Yagyesh Jaiswal

By drawing parallels to Terraform's $4.47 billion settlement, Ripple aims to lower the SEC's disproportionately high $2 billion penalty demands and establish a fair civil fine between $10-20 million.