Fraudulent Duo Targets Elderly Victim South Korean police have arrested two individuals accused of defrauding an elderly man of $4.1 million in a crypto-based scam. The suspects, a young duo in their 20s and 30s, promised the victim massive returns on his investment. Promises of 70% Return One of the suspects claimed, “If you invest…
Whale Activity Crypto whales are accumulating a rapidly growing crypto project called Ondo Finance (ONDO). Lookonchain, a crypto tracking service, has observed significant withdrawals of ONDO from major exchanges. One whale withdrew 6.53 million ONDO (over $6 million) from Bybit in the past month. Another whale withdrew 1.98 million ONDO (nearly $1.83 million) from Gate.io…
A well-known crypto analyst predicts that Bitcoin (BTC) could skyrocket to over $160,000 in this bull market. Logarithmic Growth Channel Analysis Dave the Wave, a popular analyst, uses logarithmic growth channels (LGC) to forecast market trends. He believes that Bitcoin is following a similar pattern to 2020, when it broke out of a channel and…
Bitcoin Balance on Coinbase Drops Glassnode data shows that the amount of Bitcoin held on Coinbase has dropped to a nine-year low of 344,856. This suggests that investors are holding their Bitcoin for the long term, reducing the pressure on its price. Centralized Exchange Outflows Data from Santiment indicates a drop in Bitcoin held on…
Investors Push for Higher Valuation FTX customers holding “Sam Coins” (Serum, MAPS, and OXY) are demanding millions from the bankrupt crypto firm. They argue that the tokens are worth far more than the “nearly worthless” valuation proposed by FTX’s experts. FTX’s Arguments FTX claims that the tokens have little value due to: Sam Bankman-Fried’s involvement…
Targeted Entities The US Treasury Department has designated 13 companies and 2 individuals for allegedly helping Russia evade sanctions through crypto services. These entities include: Companies operating in Russia’s financial and technology sectors Individuals developing and offering crypto services that enable sanctioned Russian entities to avoid sanctions Impact of Sanctions The sanctions prohibit any transactions…
SEC’s Silence Raises Concerns Bloomberg’s ETF expert, Eric Balchunas, predicts a mere 25% chance of a spot Ethereum exchange-traded fund (ETF) being approved by the SEC. He believes the SEC’s lack of engagement suggests a deliberate non-approval stance. Grayscale’s Optimistic Perspective Grayscale’s Chief Legal Officer, Craig Salm, offers a different view. He points out that…
The US Securities and Exchange Commission (SEC) is facing a lawsuit that challenges its lack of clear regulations for the crypto industry, particularly regarding crypto airdrops. Lawsuit Targets SEC’s Treatment of BEBA Token The DeFi Education Fund (DEF) and Beba Collection, a Texas-based apparel company, filed the lawsuit. They argue that the SEC’s aggressive enforcement…
Raoul Pal, CEO of Real Vision, believes that the “macro summer” is upon us, which will drive up the prices of Bitcoin (BTC) and altcoins. What is Macro Summer? According to Pal, macro summer refers to an increase in the ISM manufacturing index, an indicator of US economic activity. This increase is driven by liquidity,…
Arthur Hayes, co-founder of BitMEX, predicts a surge in demand for Ethereum (ETH) if the U.S. Securities and Exchange Commission (SEC) approves spot ETH exchange-traded funds (ETFs). ETF Hype Fueling ETH Demand Hayes believes the massive success of Bitcoin ETFs will pave the way for similar products for Ethereum and other crypto assets. He highlights…
