Crypto News
Federal Reserve Keeps Interest Rates Steady at 5.25%–5.50%
The Federal Reserve has decided to keep its key interest rate unchanged once again. The much awaited data now reveals that the FED is taking a cautious approach to monetary policy despite recent signs of cooling inflation. Key points: The Federal Reserve kept its key interest rate steady. The central bank revised its rate cut......
US Inflation Drops to 3.3%, Crypto Market Turns Bullish
The US economy has slightly recovered from the consistent grip of inflation in May. According to the latest report from the Labor Department, the CPI inflation rate has dropped to 3.3%. Key points: CPI showed no monthly increase in May, defying economists' expectations of a 0.1% rise. The annual CPI inflation rate stood at 3.3%,......
ZKsync to Airdrop 3.675 Billion ZK Tokens
Matter Labs, the firm behind the Ethereum layer-2 network ZKsync Era, has announced the distribution details for its ZK token airdrop. In a blog post released on Tuesday, the company revealed that 17.5% of the total 21 billion ZK token supply will be airdropped to users. Key points: 17.5% of the total ZK token supply......
Crypto Funds See $2B Inflows; Bitcoin Remains Primary Focus
Crypto investment products enjoyed a total of $2 billion in inflows in the last week, according to a recent report by CoinShares. This latest inflow indicates the fifth consecutive week of positive sentiment. The continuous inflow also brings the total inflows over this period to $4.3 billion. The spike in inflow has also led to......
New York Attorney General Sues Promoters Over $1B Crypto Pyramid Schemes
New York Attorney General Letitia James has filed a lawsuit against two companies and their promoters. The lawsuit was filed for allegedly orchestrating crypto pyramid schemes that defrauded investors, primarily of Haitian descent, of more than $1 billion. The complaint names defendants Cynthia Petion, her husband Eddy Petion, and others as the perpetrators of the......
Kraken Considers Pre-IPO Funding Round Amid Crypto Market Rally
Crypto exchange Kraken is reportedly considering raising a final funding round ahead of a potential initial public offering (IPO). According to Bloomberg, the exchange has received inquiries from potential investors during the current crypto market rally. This has reportedly prompted discussions of a pre-IPO round. Key points: Kraken is exploring the possibility of raising more......
European Central Bank Cuts Key Interest Rates by 0.25%
The European Central Bank (ECB) has announced a decision to lower its three key interest rates by 25 basis points. This marks the first rate cut since 2019. The decision comes after nine months of holding rates steady and is based on an updated assessment of the inflation outlook and the strength of monetary policy......
Robinhood to Acquire Bitstamp in $200 Million Deal
Robinhood has announced its agreement to acquire Bitstamp in a $200 million all-cash deal. The acquisition of the U.K.-based cryptocurrency exchange is expected to close in the first half of 2025. The move marks another major step in Robinhood's efforts to expand its crypto presence globally. https://twitter.com/MilkRoadDaily/status/1798672842453897406 Key points: Robinhood will acquire Bitstamp for $200......
CoinGecko Reveals Data Breach Details That Sent Over 23,000 Phishing Emails
The crypto industry is facing a potential security breach involving a prominent email newsletter vendor. The warnings were put out by Tether CEO Paolo Ardoino and CoinGecko co-founder Bobby Ong via their recent tweets. The breach is believed to be a supply chain attack targeting the crypto industry. In addition, the duo has raised concerns......
BNB Soars to New All-Time High Despite Binance’s Struggle In Nigeria
BNB, the native token of Binance, has reached a new all-time high. The coin has surged by 11.8% in the past 24 hours. The fourth-largest cryptocurrency by market cap climbed to a record-breaking price of $708. The recent pump has pushed the price above its previous all-time high of around $690, set in May 2021.......
Thailand Approves First Spot Bitcoin ETF, Joining Global Trend
Thailand has approved the country's first spot Bitcoin exchange-traded fund (ETF). The Thai Securities and Exchange Commission (SEC) has given the green light to asset manager One Asset Management (ONEAM) to introduce the ONE Bitcoin ETF Fund. The ETF is set to be distributed between May 31 and June 6. Key points: The ONE Bitcoin......
Judge Orders SEC to Pay $1.8 Million in Legal Fees, Dismisses Case Against Debt Box
U.S. District Court Judge Robert Shelby has ordered the Securities and Exchange Commission (SEC) to pay approximately $1.8 million in legal fees incurred by Debt Box. The judge's ruling comes as he dismissed the SEC's case against Debt Box without prejudice. Key points: Judge Shelby ordered the SEC to cover the attorney fees and relevant......
Semler Scientific Adopts Bitcoin as Primary Reserve, Buys $40M in BTC
Semler Scientific, a leading provider of technology products and services to healthcare providers, has made a major announcement regarding its financial strategy. The company's board of directors has declared Bitcoin as its principal treasury reserve asset. The firm has signaled a strong belief in the cryptocurrency's potential as a reliable store of value. Key points:......
Mt. Gox Transfers 140,000 BTC, Triggering Bitcoin Price Drop
Wallets linked to the now-collapsed Bitcoin exchange Mt. Gox have transferred over 140,000 BTC. The coins, valued at approximately $9 billion, were moved to an unknown address. The transactions initially raised concerns and also triggered a Bitcoin price drop. Key points: Mt. Gox wallets transferred over 140,000 BTC to an unknown address in multiple transactions.......
Ethereum Foundation to Accelerate Formal Policy Addressing Potential Conflicts of Interest
The non-profit Ethereum Foundation is stepping up its efforts to create a formal policy that addresses potential conflicts of interest. This move comes in response to recent disclosures by two of its researchers, who revealed receiving "significant" EigenLayer token incentives. Key points: Ethereum Foundation Executive Director Aya Miyaguchi acknowledges the importance of the organization's credible......
Kabosu, the Iconic Shiba Inu Behind Dogecoin, Passes Away at 18
The cryptocurrency community is mourning the loss of Kabosu, the Shiba Inu, whose iconic meme became the face of Dogecoin (DOGE). Kabosu also inspired a generation of dog-themed meme coins. According to a blog post by Kabosu's owner, the cherished dog passed away peacefully on the morning of May 24, at an estimated age of......
Congress Urges SEC for Consistent Review of Bitcoin and Ethereum ETF Applications
In a letter addressed to SEC Chairman Gary Gensler, members of the United States Congress have called for a consistent and equitable approach when reviewing upcoming applications for digital asset-backed Exchange Traded Products (ETPs). The lawmakers specifically emphasized that the Commission should apply the same principles set forth in the approval of spot Bitcoin ETFs......
SEC Chair Gary Gensler Warns Crypto Bill Poses Risks to Investors and Capital Markets
SEC Chair Gary Gensler has expressed grave concerns about the potential impact of the Financial Innovation and Technology for the 21st Century Act (FIT21) on investors and the agency's regulatory authority. Gensler argued in a statement on Wednesday that the proposed legislation would put investors and capital markets at immeasurable risk by creating new regulatory......
WisdomTree Receives Approval for Bitcoin And Ethereum ETPs, Set to List on London Stock Exchange
WisdomTree, a global asset manager, has secured approval from the Financial Conduct Authority (FCA), which will enable the listing of its WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW) exchange-traded products (ETPs) on the London Stock Exchange (LSE). This development positions WisdomTree among the first issuers to have their crypto ETP prospectus approved by......
Coinbase, Meta, and Ripple Unite to Fight Pig Butchering Scams
Coinbase, Match Group (the parent company of Tinder and Hinge), Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organization have joined hands to establish a new coalition called Tech Against Scams. The coalition aims to tackle the growing number of online frauds and financial scams that target consumers across various industries. Key points: Tech Against......
