Author: Max Bauer
The Twitter account for Giggle Academy, a philanthropic educational project spearheaded by Binance founder Changpeng Zhao (CZ), fell victim to a hacking incident. The compromised account posted messages promoting rewards through a Play-to-Earn (P2E) model, contradicting CZ’s previous explicit statement that the project would not issue its own tokens. CZ confirmed the hack via his personal Twitter account, stating, “Woke up to ‘Giggle Academy X account hacked.’ Working on restoring it. Always use common sense when reading content from anywhere.” Giggle Academy, recently announced by Zhao, aims to provide education for grades one through twelve using innovative techniques, particularly targeting…
Ripple CEO Brad Garlinghouse appeared on Fox Business in an exclusive interview, attributing the recent surge in XRP’s value to the election of Donald Trump. Garlinghouse suggested a connection between the cryptocurrency’s 70% climb since election night and the perceived pro-crypto stance of the incoming administration. Garlinghouse declared Trump a “crypto president,” praising his openness to the industry and contrasting it with the previous “attack” and “war” on crypto under the prior administration. He credited the shift in regulatory expectations for an $800 billion market cap increase, highlighting the strong performance of U.S.-based crypto companies since the election. When questioned…
The Securities and Exchange Commission (SEC) has approved the listing and trading of shares of the 7RCC Spot Bitcoin and Carbon Credit Futures ETF on the NYSE Arca exchange. This decision, announced today, follows a lengthy review process that began with NYSE Arca’s initial filing on March 13, 2024. The SEC’s approval, granted on an accelerated basis, comes after multiple amendments to the initial proposal. NYSE Arca filed Amendment No. 4 on October 24, 2024, which replaced the preceding amended proposals in their entirety. The SEC is soliciting public comment on this final amendment while simultaneously granting its approval. The…
Bitcoin has entered a crucial “anxiety region” as it approaches the $93,500 mark, according to analysts at cryptocurrency research firm Alphractal. The firm’s proprietary “STH & LTH Sentiment Price Bands” indicator, which tracks the combined profitability and loss of short-term holders (STH) and long-term holders (LTH), suggests that Bitcoin’s price is currently testing a historically significant resistance zone. Alphractal explains that previous Bitcoin bull cycles in 2013, 2017, and 2020 witnessed breakouts from this “anxiety band,” leading to substantial price surges. If Bitcoin follows a similar pattern, the firm anticipates a move towards higher price bands. Based on the 2021…
The Dubai Financial Services Authority (DFSA) has officially recognized ZetaChain (ZETA), adding it to its list of approved crypto tokens. This recognition follows previous approvals for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Toncoin (TON), and XRP, signaling a growing acceptance of cryptocurrencies within Dubai’s financial ecosystem. This move is expected to facilitate greater adoption of these digital assets among financial institutions operating within the Dubai International Financial Centre (DIFC). The DFSA announced the recognition in an official notice, stating that ZetaChain (ZETA) has been recognized in accordance with GEN Rule 3A.3.4 of the DFSA Rulebook. The recognition is effective immediately…
Bitcoin’s retail investor activity has reached a 52-month peak, signaling a resurgence of interest in the cryptocurrency market, according to data from CryptoQuant. This renewed enthusiasm is driven by a combination of factors, including surging altcoin markets, increased mainstream attention, and the recent all-time high price achieved by Bitcoin earlier this week. CryptoQuant analyst J.A. Maartunn noted the clear signs of retail traders’ return, citing the surge in Dogecoin, high funding rates, and a spike in Google searches for “Bitcoin.” “It’s impossible to ignore that retail trading is fully back,” Maartunn stated. This observation is supported by CryptoQuant’s 30-day moving…
The U.S. Attorney’s Office for the Southern District of New York (SDNY) plans to reduce its focus on cryptocurrency-related crimes following a string of high-profile convictions, including that of FTX founder Sam Bankman-Fried. This announcement comes just a day after former SEC Chairman Jay Clayton was nominated by Donald Trump to serve as the new U.S. attorney for the district. Scott Hartman, co-chief of the SDNY’s securities and commodities task force, revealed the shift in priorities at a Practising Law Institute conference in New York on Friday. He explained that while the office won’t entirely abandon cryptocurrency cases, the number…
Senator Cynthia Lummis (R-WY), a staunch ally of President-elect Donald Trump, has unveiled a plan to fund the incoming administration’s proposed strategic Bitcoin reserve by selling off a portion of the Federal Reserve’s gold holdings. The proposal aims to acquire 1 million Bitcoin, roughly 5% of the total supply, without increasing the government deficit. Lummis intends to introduce a bill in the new Congress that would authorize the purchase, estimated to cost around $90 billion at current market prices. However, this figure could rise if market anticipation of government buying drives up Bitcoin’s price. “We already have the financial assets…
Bitwise Asset Management announced today that NYSE Arca has filed to list the Bitwise 10 Crypto Index Fund (BITW) as an exchange-traded product (ETP). This marks a significant milestone in Bitwise’s efforts to convert the $1.3 billion publicly traded trust, currently quoted on the OTCQX Best Market, to an ETP structure. “Bitwise believes that ETPs are among the most efficient, convenient, and useful vehicles for providing crypto exposure,” said Hunter Horsley, CEO of Bitwise. “We remain committed to converting BITW to an ETP.” The transition to an ETP structure offers several advantages for shareholders, including improved efficiency, enhanced regulatory protections,…
Former SEC enforcement attorney John Reed Stark, previously a vocal critic of cryptocurrencies, has called for SEC Chair Gary Gensler’s resignation following Donald Trump’s presidential election victory. Stark, known for his hawkish stance on digital assets, now argues that the election results mandate a shift in the SEC’s approach to crypto regulation. In a recent statement, Stark urged the SEC staff to compile a comprehensive list of all ongoing crypto-related investigations, litigation, and rule-making initiatives, so that a new Chair can “swiftly grind them all to a screeching halt.” He asserted that “the people have spoken and their will must…