Crypto News
Sam Bankman-Fried Continues Legal Fight, Hires Ex-Trump Lawyer
Despite his conviction for fraud last December, Sam Bankman-Fried continues to wage legal battles on multiple fronts to save himself from life imprisonment. The 31-year-old former FTX CEO has hired ex-Trump lawyer Marc Mukasey ahead of a crucial sentencing memo, according to The New York Times. The memo will argue that he deserves minimal jail......
MicroStrategy Price Target Set at $990 on Bitcoin Growth Forecast
Investment banking firm Benchmark initiated coverage of business intelligence firm MicroStrategy on Tuesday, publishing a 'buy' rating and a 2025 share price target of $990. The bold MicroStrategy forecast centers on an assumed future appreciation of the company's sizable Bitcoin holdings. The analysts expect the BTC stash to swell on factors like SEC spot ETF......
Republicans Renew Push to Block Central Bank Digital Currency (CBDC)
Republican lawmakers have put forward fresh legislation aimed at preventing the Federal Reserve from developing a central bank digital currency (CBDC) over privacy concerns. On Monday, Senator Ted Cruz (R-TX) filed the "CBDC Anti-Surveillance State Act" along with four other GOP senators. The bill seeks to clarify that the Fed lacks authority to create a......
Do Kwon Extradition Delayed, Likely to Miss SEC Fraud Trial Start
Terra founder Do Kwon will likely miss at least the beginning of a U.S. civil fraud trial slated to kick off on March 25th, according to his attorney. The delay stems from ongoing extradition proceedings in Montenegro, according to Reuters. Kwon faces charges from both the Securities and Exchange Commission (SEC) as well as criminal......
Ethereum Outpaces Bitcoin in 2024 With 33% Gain: Report
Ethereum (ETH) has rallied 33% year-to-date, handily outpacing Bitcoin's gain. Beyond speculative demand for a spot ETF, other catalysts appear to be driving the outperformance. In their latest research note, analysts at Bernstein cite Ethereum's deflationary tokenomics as a key driver of ETH's robust appreciation this year. Additionally, swelling amounts of ETH deposits into staking......
Crypto Funds Witness $598,000,000 Inflows; Bitcoin Dominates
Crypto investment products saw inflows totaling $598 million last week. This marks the fourth straight week of positive flows, according to the latest report from CoinShares. So far, year-to-date, crypto fund inflows have exceeded $5.7 billion, representing 55% of the record 2021 intake. Earlier this week, assets under management hit $68.3 billion, the highest level......
MicroStrategy Buys 3,000 Bitcoin (BTC) For $155 Million
Business intelligence firm MicroStrategy has purchased an additional 3,000 Bitcoin for approximately $155 million, company former CEO Michael Saylor announced Monday. The purchase was made at an average price of $51,813 per Bitcoin. Additionally, this latest acquisition brings MicroStrategy's total Bitcoin holdings to 193,000 BTC, purchased for $5.978 billion at an average price of $31,464.74......
$56.5M Withdrawn From BitForex Crypto Exchange; Users Blocked
Cryptocurrency exchange BitForex suffered an abrupt service outage this week following the withdrawal of approximately $56.5 million worth of crypto assets from company wallets. The platform has provided no explanation, while users across social media report account lockouts. BitForex hot wallets saw a $57 million exit on Feb. 23, per the investigator. The company is......
MicroStrategy’s Official X Hacked: Over $440,000 In Crypto Stolen
The official X account of software intelligence company MicroStrategy fell victim to an apparent hack on Monday morning. Attackers accessed the profile to share phishing links that security experts estimate drained over $440,000 in cryptocurrency from deceived users. Fake X posts promoted a giveaway of a non-existent 'MSTR token'. Included website for users to connect......
Worldcoin Skyrockets 300%: What’s Behind WLD Surge?
Worldcoin (WLD) has surged over 300% in the past month, reaching an all-time high valuation above $1.1 billion at press time. The speculative frenzy follows the launch of OpenAI avatar generator Sora amidst hype around CEO Sam Altman's expanding AI empire. WLD token has surged 40% daily to a new record price of $8.6. Traders......
Nigeria Blocks Access To 3 Major Crypto Exchanges
Nigeria has ordered internet service providers to restrict access to top crypto exchanges, including Binance, Coinbase, and Kraken, according to the FT. The move represents a stark shift amidst the country's expanding embrace of digital asset adoption and proposed market regulation. The telecoms regulator reportedly demanded website blocks this week. Crypto exchanges help establish unofficial......
U.S. Ethereum ETF Could Raise Concentration Risks: Report
The entry of Ethereum exchange-traded funds (ETFs) in America could overly concentrate validation power, warns S&P Global Ratings. In a recent report, analysts cautioned that massive asset managers selecting centralized staking services may undermine Ethereum's core decentralization outlook. S&P expects SEC approval of spot Ethereum ETFs as soon as May. Notes funds are less likely......
Terra’s Do Kwon Will Be Extradited to the U.S.
A court in Montenegro has approved the extradition of embattled cryptocurrency entrepreneur Do Kwon to the United States rather than his native South Korea. According to a recent report by local news outlet Pobjeda, American prosecutors have charged Kwon with financial crimes related to the collapse of his Terra ecosystem. The Podgorica High Court favored......
Michael Saylor Says ‘Bitcoin Is The Exit Strategy’
MicroStrategy founder Michael Saylor declared that he intends to just "keep buying the top forever" when it comes to Bitcoin in an interview Tuesday with Bloomberg TV. The enterprise software firm's outspoken leader argued that BTC itself represents the ultimate portfolio escape hatch. Saylor said he'll never stop buying BTC. Believes capital can keep flowing......
Ethereum Dormant Whale Awakens After 8.6 Years Post $3,000 ETH Surge
The price of Ethereum (ETH) crossed the key $3,000 threshold on Tuesday for the first time since April 2022. ETH now sits up over almost 12% across the past week and 26% in the last fourteen days. Ethereum rose 1.3% over the past 24 hours to over $3K, up 71% year-to-year. Outpaced Bitcoin's daily gain......
Crypto Funds Witness $2,450,000,000 Inflows; U.S Leads Charge
Crypto investment products experienced a record $2.45 billion of inflows last week. This has pushed year-to-date inflows above $5.2 billion, according to the latest industry report by CoinShares. The notable inflow came almost exclusively from U.S. investors piling into spot crypto ETFs amid swelling enthusiasm. The United States delivered 99% of total weekly inflows at......
Revolut Building Dedicated Crypto Exchange for Advanced Traders
Digital banking app Revolut is developing a standalone crypto exchange targeting sophisticated traders, according to an email seen by CoinDesk. The new exchange platform will provide advanced analytics, reduced trading fees, and custom order capabilities beyond Revolut's existing crypto services. Exchange touts 0-0.9% fees, limit order trading in customer invite Follows Revolut suspension of UK......
Jupiter Blocks XRP ETP Amid Regulatory Confusion: FT
Jupiter Asset Management's compliance division recently blocked one of its funds from retaining exposure to an XRP exchange-traded product (ETP). The compliance team highlighted inconsistent EU regulation, according to a report by FT. The incident demonstrates how divergent national rules create confusion for managers exploring crypto participation. Jupiter was blocked from holding XRP ETP in......
U.S. Authorities Can Control Tether (USDT): JPMorgan
Financial services giant JPMorgan released a report asserting that U.S. authorities retain power to indirectly influence major stablecoin Tether despite its overseas base. The bank's analysts argue Tether remains vulnerable given its heavy reliance on the American market. Treasury sanctions forced Tether on the wallet blacklist. Stablecoin transparency is still lacking, per JPMorgan. Tether's dominance......
Lazarus Group Shifts Crypto Money Laundering Technique: Report
Blockchain analytics firm Chainalysis published its annual crypto crime report this week. Chainalysis highlights shifting crypto money laundering techniques amongst cybercriminals. While overall funds moving from illicit wallets dropped, Chainalysis warns top hackers are spreading activity across more service accounts and utilizing advanced on-chain maneuvers. Cybercriminals diversify deposit addresses to avoid scrutiny. Lazarus Group adopts......
