A renowned crypto analyst has raised concerns about Solana (SOL), predicting a potential collapse. Distribution Phase According to the analyst, known as Credible, Solana is currently in a “distribution phase.” This means that large investors are gradually selling their holdings without causing a market crash. Potential Rally and Downtrend Credible believes that SOL may experience…
Price Target Macro strategist Henrik Zeberg predicts Bitcoin (BTC) could skyrocket over 64% to $110,000-$115,000 by the third quarter of this year. “We’re hours or days away from a big move starting again,” Zeberg said. “I think we’re going to see a very big move coming into mid-June.” Economic Outlook Zeberg also forecasts a US…
Conspiracy Charges Ryan Salame, a former high-ranking official at Alameda Research and co-CEO of FTX, has been sentenced to 90 months in prison. He pleaded guilty to conspiracy to defraud the Federal Election Commission and operate an unlicensed money-transmitting business. Illegal Political Contributions Salame conspired with Sam Bankman-Fried and Nishad Singh to make campaign contributions…
How Stablecoins Are Changing Trade Finance Russian commodity firms are using cryptocurrency, especially Tether (USDT), to bypass sanctions that have disrupted traditional banking channels. This allows them to make “fast and seamless” international transactions with Chinese companies. The Appeal of Stablecoins Stablecoins like USDT are popular because they offer: Quick and cheap transactions (5-15 seconds,…
Major Upgrade for Terra Blockchain Terra Classic developer group Genuine Labs has proposed a major upgrade for the Terra blockchain. This upgrade, if approved, could have a positive impact on the Terra ecosystem, including the price of Terra Classic (LUNC). What’s Included in the Upgrade The upgrade includes: Implementing the latest version of the Cosmos…
AI-Generated Concept Turbo (TURBO), a memecoin created using OpenAI’s ChatGPT, has exploded onto the crypto scene, reaching a market cap of $607 million. Digital artist Rhett Mankind used ChatGPT to generate the concept, tokenomics, and even the smart contract for Turbo. Community-Driven Success Mankind emphasized the community’s role in Turbo’s success, stating that his goal…
Crypto analyst Jason Pizzino has identified four altcoins showing signs of strength: Solana (SOL), Pepe (PEPE), Pendle (PENDLE), and Render (RNDR). Solana (SOL) Pizzino notes that Solana’s performance against the US dollar remains strong, holding above the 50% retracement level of $154. Pendle (PENDLE) PENDLE is seen as a potential strong performer in the next…
A US regulator has announced a $1.5 million settlement with a bank accused of deceiving and overcharging hundreds of veterans. Deceptive Practices The Federal Deposit Insurance Corporation (FDIC) claims that Bank of England in Arkansas misled veterans by: Falsely promising they could skip loan payments when refinancing VA mortgages Misrepresenting the bank’s relationship with the…
The Uniswap Foundation, which oversees the popular cryptocurrency exchange Uniswap, has released its financial summary for the first quarter of 2024. Financial Snapshot As of March 31, 2024, the foundation had: $41.41 million in cash and stablecoins 0.73 million UNI tokens The funds are allocated as follows: $25.77 million for grants and incentives $2.94 million…
US authorities have arrested the alleged mastermind behind a major dark web marketplace that facilitated the anonymous sale of illegal drugs. Arrest Details Rui-siang Lin, 23, from Taiwan, was arrested at John F. Kennedy Airport on May 18th. He is accused of owning and operating Incognito Market under the alias “Pharoah” or “Faro.” Incognito Market’s…
