NY Court Orders EminiFX Founder to Pay $228M in Restitution
A federal judge in New York has ordered the founder of EminiFX, who was found guilty of operating a Ponzi scam, to reimburse victims more than $228 million.
Coin Bytes
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Fidelity sells 36,250.03 $ETH worth $150.8M
Fidelity made a significant institutional move by selling 36,250.03 Ethereum, worth $150.8 million. With traders keeping a watchful eye out for any possible repercussions, the selling puts more pressure on the $ETH markets.
BlackRock Holds Over $87B in Bitcoin, Owning 3% of Total Supply
More than 3% of all Bitcoin is currently held by investment behemoth BlackRock, which currently has over $87 billion in $BTC. This enormous position indicates rising public trust in Bitcoin and highlights the expanding institutional desire for digital assets. According to analysts, these purchases by established financial giants may have a big impact on price stability, market liquidity, and the further acceptance of cryptocurrencies in international banking.
Trump Jr.-backed Social Media Firm Thumzup Plans Acquiring Dogehash Technologies
Thumzup, a social media platform supported by Trump Jr., is purchasing Dogehash Technologies, a significant $DOGE and $LTC miner, in an all-stock transaction. The strategy? Create a top-tier cryptocurrency mining platform that mostly uses sustainable energy. Later this year, the merged business, which will be known as Dogehash Technologies Holdings, Inc., plans to float on the Nasdaq under the ticker symbol XDOG. But after the news, Thumzup’s stock fell by about 46%, indicating that investors are wary.
Whale Dump Update
Yesterday, A whale sold off 3,075 Ethereum ($13.25M) at ~$4,310 while holding 15,708 Ethereum. Since then, it has sold off another 8,500 Ethereum ($38.15M), totaling 11,575 Ethereum ($51.4M) at ~$4,440. There are still 6,710 $ETH ($27.6M) remaining in the wallet. Address: 0x73781209f3b0f195d0d3fa9d6b95bb61c54c1ca6
Profit-Taking Hits Crypto After Record Highs
Over the past day, there has been a lot of movement in $BTC and $ETH as traders booked profits after recent record highs. Increased leverage and growing macroeconomic factors put further strain on the main tokens, causing market volatility. Short-term trading has increased as investors reevaluate positions and lock in gains, even though the long-term positive attitude is still present. For the next move in Bitcoin, Ethereum, and other significant cryptocurrencies, traders are paying close attention to market indications.
Harvard Economist Kenneth Rogoff Reflects on His Old Bitcoin Call
In 2018, renowned Harvard economist Kenneth Rogoff stated that Bitcoin was more likely to plummet to $100 than ever hit $100,000. Seven years later, Bitcoin has not only surpassed $100,000 but has risen more than 80% to reach all-time highs. “What did I miss?” Rogoff said modestly about X. Though he remains wary, his reflection shows how much the crypto tale has shifted, surprising even the most astute observers.
SEC Chair Paul Atkins Signals Softer Stance on Crypto Tokens
In a significant change to policy, SEC Chair Paul Atkins stated that only a small percentage of crypto should be considered securities. The more stringent stance taken by former Chair Gary Gensler, who maintained that the majority of tokens were subject to securities law, is clearly in contrast to this. In addition to giving projects more clarity and reducing regulatory pressure, the change may also spur innovation and institutional investment in the US cryptocurrency market.
Circle Launches Mainnet Gateway for Instant Cross-Chain $USDC Access
Circle has formally launched its gateway on mainnet, allowing users to move $USDC instantly across multiple blockchains. The launch aims to simplify transactions and improve liquidity. It also operates to make stablecoin usage more seamless for both retail and institutional participants. By enabling fast, cross-chain transfers, Circle strengthens $USDC’s role as a universal digital dollar in the crypto ecosystem, opening doors for broader adoption and more efficient decentralized finance operations.
Tether Names Bo Hines as Strategic Adviser
Former White House crypto policy executive Bo Hines has joined cryptocurrency company Tether as a strategic consultant to assist with the company’s U.S. expansion. Hines will advise on market strategy, interact with industry associations and legislators, and offer views on digital assets in this capacity. The action attempts to improve Tether’s position in the biggest cryptocurrency market globally and successfully handle strategic and regulatory opportunities.