Full Reimbursement for Customers FTX, the bankrupt crypto exchange, has announced a plan to repay 98% of its customers at least 118% of their claims in cash. This includes selling assets and properties worth $14.5 billion to $16.3 billion. Repayment Strategy Non-governmental creditors will receive full payment based on the value of their claims. Governmental…
Network Surge Ethereum’s network is seeing a surge in activity, with over 200,000 new addresses created on May 4th. This is the highest single-day growth in almost two years. The surge suggests growing interest in Ethereum, driven by DeFi and NFTs. Price Dip: Opportunity or Risk? Despite the network growth, Ethereum’s price has dipped to…
A crypto analyst believes that Solana (SOL) has seen its last major dip for the current market cycle. Solana’s Bullish Momentum Analyst Inmortal predicts that SOL bulls have successfully defended support at $120. He suggests that the altcoin is poised to rally to a new 2024 high of $320. Memecoins to Join the Rally Inmortal…
Ethereum co-founder Joseph Lubin has raised concerns about the U.S. Securities and Exchange Commission’s (SEC) stance on cryptocurrencies, particularly Ethereum (ETH). SEC’s Potential Classification of ETH as a Security Lubin believes that if the SEC declares ETH a security, it could have a devastating impact on the crypto industry in the United States. American citizens…
Ethena Labs has announced that USDe, its Ethereum-based stablecoin, will be integrated into Bybit, the third largest crypto exchange by trading volume. New Integrations USDe will be used on Bybit as: Collateral for perpetual futures Spot trading pair for Bitcoin (BTC) and Ethereum (ETH) Part of Bybit’s Earn program Ethena’s Vision Ethena Labs describes USDe…
Mike McGlone, a Bloomberg expert, has doubts about Bitcoin hitting $150,000 anytime soon. Here’s why: Macroeconomic Trends and Bitcoin’s Performance McGlone compared Bitcoin to the S&P 500 stock index and found that Bitcoin’s performance has been weaker in 2024 than in 2021. He also noted that Bitcoin’s performance has been similar to gold, which is…
Collaboration for Open-Source Innovation Spectral Labs has joined Hugging Face’s Expert Support Program (ESP) to collaborate with deep learning experts and drive advancements in open-source AI for the on-chain economy. Hugging Face’s Role Hugging Face provides expert guidance to Spectral in developing new use cases, optimizing datasets, and devising training strategies. Their support has significantly…
Bitcoin has been stuck in a rut lately, despite recently crossing $60,000. Here’s why: Spot Bitcoin ETFs Lose Steam When Spot Bitcoin ETFs launched, they attracted billions in investment, which helped Bitcoin surge to an all-time high. However, demand for these funds has since dwindled, dampening Bitcoin’s momentum. Analyst Predictions Analysts like Andrey Stoychev believe…
Local Bottom Reached? Crypto analyst MilkyBull believes Bitcoin’s local bottom has been reached. He points to the fact that the next major resistance level is at $64,557. Before hitting its all-time high of $73,000, BTC will likely clear $67,000 and consolidate. Historical Patterns MilkyBull also notes that Bitcoin’s price action in 2017 suggests a similar…
Funds on the Move Six months after the Poloniex crypto exchange hack, the stolen funds are starting to move. One of the hacker’s accounts transferred $3.5 million to a crypto mixer called Tornado Cash. Hacker Launders Funds The hacker sent 100 ETH ($308,000) to Tornado Cash from one account and later sent 1,100 ETH ($3.5…
