Coinbase’s Appeal Request Coinbase is facing a legal battle with the SEC over whether its staking program constitutes an investment contract. Coinbase believes this is a critical legal question that should be addressed by an appellate court. SEC’s Response The SEC argued that the existing Howey Test is sufficient to determine whether a digital asset…
Bitcoin ETFs on a Roll Bitcoin exchange-traded funds (ETFs) have been on a tear for eight straight days, with over $150 million in net inflows on a single day. This surge shows that investors are flocking to Bitcoin ETFs, making cryptocurrency more accessible and accepted in traditional markets. Ethereum ETFs on the Horizon The excitement…
Whales Go on a Buying Spree Following rumors of an Ethereum ETF approval, Bitcoin’s price briefly touched $70,000. Despite the SEC’s approval, BTC fell back below $70,000. However, recent data suggests a possible recovery. Crypto analyst Ali Martinez reports significant buying activity among “whales” (large investors). These whales have purchased over 20,000 BTC ($1.34 billion)…
A bank employee has been indicted by the U.S. Department of Justice (DOJ) for allegedly stealing over $2.1 million from customers. Unauthorized Transactions and Illicit Accounts Yue Cao, of Winfield, Illinois, is accused of creating a network of unauthorized transactions and illegal accounts to siphon funds from victims. He allegedly targeted elderly customers who had…
Axie Infinity (AXS), a blockchain gaming altcoin, is showing signs of a potential surge, according to crypto trader Ali Martinez. Inverse Head-and-Shoulders Pattern Martinez analyzed AXS’s weekly chart and identified an inverse head-and-shoulders pattern. This pattern suggests that AXS could rise to $13, a 73% increase from its current price of $7.49. A further breakout…
Spot market Bitcoin exchange-traded funds (ETFs) have seen a remarkable nine-day streak of inflows, totaling over $1.75 billion. Daily Inflows Since May 14th, BTC ETFs have consistently received positive inflows, with May 15th and May 21st witnessing the largest gains of $303 million and $305.7 million, respectively. Grayscale Outflows The only exception to this trend…
Binance, the popular crypto exchange, has announced that it will soon support a new DeFi altcoin on its Megadrop token launch platform. What is Megadrop? Launched in April, Megadrop is a platform that gives users early access to assets that are not yet listed on Binance’s exchange. It features airdrops and Web3 quests to engage…
Transfer Details Sam Bankman-Fried, the co-founder of the FTX crypto exchange, has been moved to a temporary detention center in Oklahoma City. This is despite a judge’s request to keep him in New York for his appeal. Reason for Transfer Bankman-Fried is serving a 25-year sentence for orchestrating a fraud at FTX. The Oklahoma facility…
Funding Rate Plunges Dogecoin’s open interest-weighted funding rate has nosedived by 50% in the past 24 hours. This suggests a shift towards bearish sentiment among investors. As the price of Dogecoin climbed, the funding rate rose, indicating bullishness. However, as the price has retreated, the funding rate has plummeted, showing a bearish reversal. Open Interest…
London Mansion Raid Uncovers Massive Bitcoin Stash In 2018, a raid on a London mansion belonging to Jian Wen and Yadi Zhang led to the seizure of 61,000 Bitcoin, currently valued at over £3 billion. This marked one of the largest cryptocurrency hauls by law enforcement worldwide. Wen’s Involvement in Money Laundering Jian Wen, 42,…
